Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

Macroeconomics

<ul><li>During the period under consideration, i.e. August 28th, 2024 to September 27th, 2024, the EUR/JPY exchange rate fluctuated between 155.97 and 162.63.</li><li>The MA-10 line was moving above the MA-20 line for the first week, and then it crossed below the MA-20, maintaining a steady downward movement until it crossed over it again on September 26th MA-20 line retained an immovable declining trend throughout the entire period.</li><li>Based on Graph 2, the CCI (red line) was moving in a descending trend at the beginning of the period under consideration but after September 6th the movement changed to the opposite direction, reaching the price of 100 and ending up slightly above the 50 level.</li></ul>

During the period under consideration, i.e. August 28th, 2024 to September 27th, 2024, the EUR/JPY exchange rate fluctuated between 155.97 and 162.63.The MA-10 line was moving above the MA-20 line for the first week, and then it crossed below the MA-20, maintaining a steady downward movement until it crossed over it again on September 26th MA-20 line retained an immovable declining trend throughout the entire period.Based on Graph 2, the CCI (red line) was moving in a descending trend at the beginning of the period under consideration but after September 6th the movement changed to the opposite direction, reaching the price of 100 and ending up slightly above the 50 level.

Comment on Exchange Rate EUR/JPY - September 27, 2024

External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Thematic (Sector/Industry)

<ul><li>Cabinet formation: coalition completed. The names of Minister and Vice Minister announced in President Prabowo’s cabinet comprise representation of political parties (ex-PDIP) and existing ministers under Pres. Jokowi, including MoF Mrs. Sri Mulyani.</li><li>In our view, the latter should cement a positive outlook for Indonesia’s stability while the overall cabinet posture shall ensure the delivery of programs continuity.</li><li>ACES (Buy, TP Rp1,100): strong SSSG continues at 8.8% in Sep24. ACES is our analyst’s top pick in the retail sector. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Cabinet formation: coalition completed. The names of Minister and Vice Minister announced in President Prabowo’s cabinet comprise representation of political parties (ex-PDIP) and existing ministers under Pres. Jokowi, including MoF Mrs. Sri Mulyani.In our view, the latter should cement a positive outlook for Indonesia’s stability while the overall cabinet posture shall ensure the delivery of programs continuity.ACES (Buy, TP Rp1,100): strong SSSG continues at 8.8% in Sep24. ACES is our analyst’s top pick in the retail sector. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BRIDS Market Pulse : Chart of the week – Foreign Equity Flow Returned to JCI

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

<ul>
<li>Happy Monday from Copenhagen.</li>
<li>Our nowcasts of the US economy have proven useful in predicting the direction of incoming macro releases over the past couple of months, accurately capturing both the downtrend in July and the subsequent strength observed throughout September and October relative to expectations.</li>
<li>The US economy is performing much better than feared at the moment, resulting in stronger equities, higher rates, and a stronger USD.</li>
</ul>


Happy Monday from Copenhagen.
Our nowcasts of the US economy have proven useful in predicting the direction of incoming macro releases over the past couple of months, accurately capturing both the downtrend in July and the subsequent strength observed throughout September and October relative to expectations.
The US economy is performing much better than feared at the moment, resulting in stronger equities, higher rates, and a stronger USD.


The week at a Glance –   The cleanest shirt in the dirty laundry

<ul><li>Morning from Copenhagen, I spent my Sunday evening in the company of Interpol (the band, not the police, doh!), allowing myself a day off for once after the big announcements we made last week.</li><li>As a result, Steno Signals was released this Monday morning instead.</li><li>The recent repricing of EUR rates versus peers is extremely interesting, as the ECB is suddenly considered the only G3 central bank with a feasible path to 50bp cuts.</li></ul>

Morning from Copenhagen, I spent my Sunday evening in the company of Interpol (the band, not the police, doh!), allowing myself a day off for once after the big announcements we made last week.As a result, Steno Signals was released this Monday morning instead.The recent repricing of EUR rates versus peers is extremely interesting, as the ECB is suddenly considered the only G3 central bank with a feasible path to 50bp cuts.

Steno Signals #122 – Markets have abandoned the cutting narrative (outside of EZ)

<ul><li>Hello everyone, and welcome back to our positioning update.</li><li>The big theme in markets currently is how markets are responding, positioning-wise, to the dwindling momentum in Chinese equities, and which geographies that money is being moved to now that the China story is slowly but surely fading.</li><li>Today’s briefing on the outlook for the property market was, once again, a disappointment, and it seems like China is boosting supply to solve a demand problem, likely because they are focusing more on their annual 5% GDP growth target than on solving the structural issues at hand.</li></ul>

Hello everyone, and welcome back to our positioning update.The big theme in markets currently is how markets are responding, positioning-wise, to the dwindling momentum in Chinese equities, and which geographies that money is being moved to now that the China story is slowly but surely fading.Today’s briefing on the outlook for the property market was, once again, a disappointment, and it seems like China is boosting supply to solve a demand problem, likely because they are focusing more on their annual 5% GDP growth target than on solving the structural issues at hand.

Positioning Watch – Markets Still Favoring West Over East

United States

The euro is the official currency of the European Economic & Monetary Union.  The US dollar is the official currency of the United States of America.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

EURO/US DOLLAR (EURUSD CURNCY)

Comment on Exchange Rate EUR/JPY - September 27, 2024

During the period under consideration, i.e. August 28th, 2024 to September 27th, 2024, the EUR/JPY exchange rate fluctuated between 155.97 and 162.63.

VRS (Valuation & Research Specialists)

BRIDS Market Pulse : Chart of the week – Foreign Equity Flow Returned to JCI

The names of Minister and Vice Minister announced in President Prabowo’s cabinet comprise representation of political parties (ex-PDIP) and...

BRI Danareksa Research

The week at a Glance – The cleanest shirt in the dirty laundry

Happy Monday from Copenhagen. Our nowcasts of the US economy have proven useful in predicting the direction of incoming macro releases over the...

Steno Research

Steno Signals #122 – Markets have abandoned the cutting narrative (outside of EZ)

Morning from Copenhagen,I spent my Sunday evening in the company of Interpol (the band, not the police, doh!), allowing myself a day off for once...

Steno Research

Positioning Watch – Markets Still Favoring West Over East

Hello everyone, and welcome back to our positioning update. The big theme in markets currently is how markets are responding, positioning-wise, to...

Steno Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)