Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

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Equity Bottom-Up

British American Tobacco / Equity Bottom-Up

Despite recent whispers of an impasse in negotiations (revolving around the valuation of Reynolds’ next generation product portfolio), in a joint statement this morning Reynolds American and British American Tobacco confirmed that they had agreed the terms of a merger in which the UK-based company will acquire the remaining 57.8% of RAI it did not already own for some USD49.4bn. Reynolds shareholders will retain almost a fifth of the new entity, the world’s largest public tobacco company (by valuation, if not by volume). This deal heralds the final act in industry consolidation in combustible cigarettes, creates the first truly global next generation product operation and brings to a definitive close the US market’s litigation-induced isolation from the global landscape.

Despite recent whispers of an impasse in negotiations (revolving around the valuation of Reynolds’ next generation product portfolio), in a joint statement this morning Reynolds American and British American Tobacco confirmed that they had agreed the terms of a merger in which the UK-based company will acquire the remaining 57.8% of RAI it did not already own for some USD49.4bn. Reynolds shareholders will retain almost a fifth of the new entity, the world’s largest public tobacco company (by valuation, if not by volume). This deal heralds the final act in industry consolidation in combustible cigarettes, creates the first truly global next generation product operation and brings to a definitive close the US market’s litigation-induced isolation from the global landscape.

Consequence of BAT's Full Acquisition of Reynolds Can Scarcely Be Overstated

Asymmetric Payoffs, Thracian Capital Management

Asymmetric Payoffs

Thracian Capital Management

Marks &amp; Spencer is a major UK retailer of clothing and premium food. The stock is technically oversold and trading at low valuations, historically and in absolute terms.Recommendation date: 15-Jul-2016Recommended size: 2% of AUM

Marks &amp; Spencer is a major UK retailer of clothing and premium food. The stock is technically oversold and trading at low valuations, historically and in absolute terms.Recommendation date: 15-Jul-2016Recommended size: 2% of AUM 

Long MKS LN (Marks & Spencer Group) Stock at GBp325.30

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

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Thematic (Sector/Industry)

Last week the immediate shock from the Brexit eased considerably. It has become clear that all the Brexit vote really did was guarantee a prolonged period of uncertainty. It has also become clear that it will take months to gauge the impact that this prolonged period of uncertainty will have on both the Eurozone and global economy.

Last week the immediate shock from the Brexit eased considerably. It has become clear that all the Brexit vote really did was guarantee a prolonged period of uncertainty. It has also become clear that it will take months to gauge the impact that this prolonged period of uncertainty will have on both the Eurozone and global economy.

What Investors Should Be Asking About A Brexit

Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund <a href="https://www.smartkarma.com/entities/22754" target="_blank" data-smartkarma-citation="entities:22754">Vietnam Enterprise Investments Limited</a>, which currently trades on the Irish Stock Exchange, may trade on the main market of the London Stock Exchange next month.  The company plans to hold an Extraordinary General Meeting on June the 21st to vote on the approval of this transfer, which is expected to potentially take place next month.  The fund currently manages over $850 million, and is most notable for…

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund Vietnam Enterprise Investments Limited, which currently trades on the Irish Stock Exchange, may trade on the main market of the London Stock Exchange next month.  The company plans to hold an Extraordinary General Meeting on June the 21st to vote on the approval of this transfer, which is expected to potentially take place next month.  The fund currently manages over $850 million, and is most notable for…

Dragon Capital's VEIL Fund: A 3rd London Listing for Vietnam May Emerge Next Month

Information Technology Consultant

Ishita Jain

Mark Twain once said 'Too much of anything is bad, but too much of good whisky is barely enough'. The 'water of life', as it's colloquially called, is enjoyed the world over in equal measure. Whether you like it smoky, smooth or peaty, whisky has always made good company. And now, over the last few years it's caught the imagination of the general public not only on the taste buds but also in portfolios. New and innovative ways to invest have cropped up in what used to be a drink reserved for the rich and the elite. The article gives an overview of the whisky market and some ways to invest in it. For those unaware of the difference between whisky and whiskey, you can read more <a href="http://www.whiskyforeveryone.com/whisky_basics/whisky_or_whiskey.html" target="_blank">here</a>.

Mark Twain once said 'Too much of anything is bad, but too much of good whisky is barely enough'. The 'water of life', as it's colloquially called, is enjoyed the world over in equal measure. Whether you like it smoky, smooth or peaty, whisky has always made good company. And now, over the last few years it's caught the imagination of the general public not only on the taste buds but also in portfolios. New and innovative ways to invest have cropped up in what used to be a drink reserved for the rich and the elite. The article gives an overview of the whisky market and some ways to invest in it. For those unaware of the difference between whisky and whiskey, you can read more here.

United Kingdom

Marks & Spencer Group PLC is a holding company. The Company, through its subsidiaries, provides retail of clothing, food and home products.

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Marks & Spencer (MKS LN)

Consequence of BAT's Full Acquisition of Reynolds Can Scarcely Be Overstated

Despite recent whispers of an impasse in negotiations (revolving around the valuation of Reynolds’ next generation product portfolio), in a joint...

Euromonitor International Ltd.

Long MKS LN (Marks & Spencer Group) Stock at GBp325.30

Marks & Spencer is a major UK retailer of clothing and premium food. The stock is technically oversold and trading at low valuations,...

Asymmetric Payoffs

What Investors Should Be Asking About A Brexit

Last week the immediate shock from the Brexit eased considerably. It has become clear that all the Brexit vote really did was guarantee a prolonged...

David Riedel

Dragon Capital's VEIL Fund: A 3rd London Listing for Vietnam May Emerge Next Month

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund Vietnam Enterprise Investments Limited, which currently...

Nomadic Equity

Whisky - Rarer the Richer

Mark Twain once said 'Too much of anything is bad, but too much of good whisky is barely enough'. The 'water of life', as it's colloquially called,...

Ishita Jain

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