Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

Industrial Production (IPI) in the Eurozone revived in April 2016 after having recorded negligible growth in March 2016. On a seasonally and working day adjusted (swda) basis, production grew by 2% y-o-y in April 2016 compared to a rise of 0.1% y-o-y in March 2016. It grew 1.1% y-o-y on a 3-month moving average (3mma) basis in April 2016 compared to 1.6% y-o-y in March 2016.In terms of industry segments, electricity &amp; utilities increased 1.8% y-o-y in April 2016 after having recorded negative…

Industrial Production (IPI) in the Eurozone revived in April 2016 after having recorded negligible growth in March 2016. On a seasonally and working day adjusted (swda) basis, production grew by 2% y-o-y in April 2016 compared to a rise of 0.1% y-o-y in March 2016. It grew 1.1% y-o-y on a 3-month moving average (3mma) basis in April 2016 compared to 1.6% y-o-y in March 2016.In terms of industry segments, electricity &amp; utilities increased 1.8% y-o-y in April 2016 after having recorded negative…

Eurozone: Industrial Production Revives Across Most Sectors and Countries in April

Industrial Production growth in the Eurozone came in lower than expected in March 2016. On a  seasonally and working day adjusted basis, production slowed to 0.2% y-o-y in March 2016 compared to a 1.1% y-o-y increase in February 2016. It grew 1.6% y-o-y on a 3-month moving average basis in March compared to 1.7% y-o-y in February.In terms of industry segments, chemicals &amp; basic pharmaceutical production saw a decline of around 5.5% y-o-y in March compared to an increase of 0.4% y-o-y in…

Industrial Production growth in the Eurozone came in lower than expected in March 2016. On a  seasonally and working day adjusted basis, production slowed to 0.2% y-o-y in March 2016 compared to a 1.1% y-o-y increase in February 2016. It grew 1.6% y-o-y on a 3-month moving average basis in March compared to 1.7% y-o-y in February.In terms of industry segments, chemicals &amp; basic pharmaceutical production saw a decline of around 5.5% y-o-y in March compared to an increase of 0.4% y-o-y in…

Eurozone: March Industrial Production Lower than Expected

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Event-Driven

Broadspectrum directors now unanimously recommend that shareholders accept Ferrovial's revised AUD 1.50 per share cash takeover offer.Our "accept the offer" recommendation stands.The board's change of heart reflects added uncertainty around the Manus Province operations. The Supreme Court of PNG has ruled the regional processing centre for asylum seekers is unconstitutional and will be closed.Directors believe the certainty of AUD 1.50 per share cash in hand is now superior to the uncertainty the company otherwise faces.Analysts: Mark Taylor &amp; Mathew Hodge

Broadspectrum directors now unanimously recommend that shareholders accept Ferrovial's revised AUD 1.50 per share cash takeover offer.Our "accept the offer" recommendation stands.The board's change of heart reflects added uncertainty around the Manus Province operations. The Supreme Court of PNG has ruled the regional processing centre for asylum seekers is unconstitutional and will be closed.Directors believe the certainty of AUD 1.50 per share cash in hand is now superior to the uncertainty the company otherwise faces.Analysts: Mark Taylor &amp; Mathew Hodge

Broadspectrum Board Has Change of Heart; A$1.50 Takeover Now Unanimously Recommended

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

With apologies to American essayist and all-around quotable guy Charles Dudley Warner (and perhaps also William Shakespeare)....<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/007/667/original/Politics%20Makes%20for%20Strange%20Mattressfellows.png?1461854097" class="editor-image img-responsive" data-smartkarma-image-id="7667"></figure><div class="content-remarks">
*Charles Dudley Warner's quote was "Politics Makes for Strange Bedfellows". 
It is possible that William Shakespeare's character jester Trinculo's original quote may be even more apt: "Misery acquaints a man with strange bedfellows. I will here shroud till the dregs of the storm be past." [Tempest Act II, Scene II]
</div> <h2>Short &amp; Sweet?</h2>After acknowledging the PNG Supreme…

With apologies to American essayist and all-around quotable guy Charles Dudley Warner (and perhaps also William Shakespeare)....
*Charles Dudley Warner's quote was "Politics Makes for Strange Bedfellows". 
It is possible that William Shakespeare's character jester Trinculo's original quote may be even more apt: "Misery acquaints a man with strange bedfellows. I will here shroud till the dregs of the storm be past." [Tempest Act II, Scene II]
 Short &amp; Sweet?After acknowledging the PNG Supreme…

Broadspectrum & Ferrovial:  Politics Makes for Strange Mattressfellows*

When <a href="https://www.smartkarma.com/entities/21031" target="_blank" data-smartkarma-citation="entities:21031">Ferrovial SA</a> came out last week and announced the status of pre-conditions on its Offer for <a href="https://www.smartkarma.com/entities/5" target="_blank" data-smartkarma-citation="entities:5">Broadspectrum</a>, and the fact they would stick to the 50.01% Acceptance Condition and an Offer Close of May 2, I thought the Offer was highly likely to lapse/fail as The largest shareholder Allan Gray and others had said they would stick with management's rejection on the grounds of undervaluation. Ferrovial's Final Offer of A$1.50/share was just short of the A$1.60-1.85 "Supplementary IE Report" in…

When Ferrovial SA came out last week and announced the status of pre-conditions on its Offer for Broadspectrum, and the fact they would stick to the 50.01% Acceptance Condition and an Offer Close of May 2, I thought the Offer was highly likely to lapse/fail as The largest shareholder Allan Gray and others had said they would stick with management's rejection on the grounds of undervaluation. Ferrovial's Final Offer of A$1.50/share was just short of the A$1.60-1.85 "Supplementary IE Report" in…

Spain

Ferrovial SA is an infrastructure operator and industrial company. The Company operates in multiple countries in a range of sectors including construction, airport, toll road, and municipal services.  Ferrovial SA also has a services division in which they provide facility management, infrastructure maintenance and upkeep, and energy and waste management services.

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Ferrovial Sa (FER SM)

Eurozone: Industrial Production Revives Across Most Sectors and Countries in April

Industrial Production (IPI) in the Eurozone revived in April 2016 after having recorded negligible growth in March 2016. On a seasonally and...

Rajan Govil

Eurozone: March Industrial Production Lower than Expected

Industrial Production growth in the Eurozone came in lower than expected in March 2016. On a seasonally and working day adjusted basis, production...

Rajan Govil

Broadspectrum Board Has Change of Heart; A$1.50 Takeover Now Unanimously Recommended

Broadspectrum directors now unanimously recommend that shareholders accept Ferrovial's revised AUD 1.50 per share cash takeover offer.Our "accept...

Morningstar, Inc.

Broadspectrum & Ferrovial: Politics Makes for Strange Mattressfellows*

With apologies to American essayist and all-around quotable guy Charles Dudley Warner (and perhaps also William Shakespeare).... *Charles Dudley...

Travis Lundy

Broadspectrum: Mattresses Up In The Air

When Ferrovial SA came out last week and announced the status of pre-conditions on its Offer for Broadspectrum, and the fact they would stick to...

Travis Lundy

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