In today’s briefing:
- Lucror Analytics – Morning Views Asia
- West China Cement – Deterioration in Earnings and Leverage Continues
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: China Water Affairs, Xiaomi Corp, Nickel Industries
- In the US, Atlanta Fed President Raphael Bostic said he anticipates only one interest rate cut this year, as he now thinks “we’re going to see inflation be very bumpy and not move dramatically and in a clear way to the 2% target”.
- Mr Bostic currently projects that inflation will return to the central bank’s 2% target at some point in early 2027, in line with the Fed’s projections published last week.
West China Cement – Deterioration in Earnings and Leverage Continues
- West China Cement’s (WCC) FY 2024 results remained weak, albeit slightly improved from H1.
- Sales volumes and ASP in Mainland China continued to decline, amid poor demand from the real estate and infrastructure sectors.
- Meanwhile, performance in Africa was mixed, as rising sales volumes were offset by softer ASP.
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