In today’s briefing:
- Newcrest-Newmont Merger: Fancy Index Shenanigans
- StubWorld: PTT Public Is Trading Cheap
- Quiddity Leaderboard ASX Dec 23: 5 ASX 200 Changes and Other Large Potential Flow Events (NCM, AKE)
- ECVT: Story After Maintenance
- What’s Trending: Oil & Gas Stocks in Focus
Newcrest-Newmont Merger: Fancy Index Shenanigans
- Back in February, Newmont Proposes Taking Newcrest Back Into The Fold. Newmont bumped, there was due dili, then Newcrest Backs Newmont’s US$19bn Offer in May.
- More recently, we have Newcrest: Shareholder Vote On 13th Oct, with a prescribed schedule. That makes things fun.
- There will be considerable movement of shares, and that will mean opportunity. Both up and down. I see US$3bn to buy, then A$1.5bn or more to sell a bit later.
StubWorld: PTT Public Is Trading Cheap
- The recent share price pullback sees PTT PCL (PTT TB) trading below its long-term averages, and with respect to peers.
- Preceding my comments on PTT are the current setup/unwind tables for Asia-Pacific Holdcos.
- These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation >20%.
Quiddity Leaderboard ASX Dec 23: 5 ASX 200 Changes and Other Large Potential Flow Events (NCM, AKE)
- In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run up to the December 2023 Rebalance.
- There could be up to five ASX 200 changes including the intra-review changes that could potentially be triggered by M&A events.
- There are also couple of possibly large reverse funding flow scenarios involving Newcrest Mining (NCM AU) and Allkem Ltd (AKE AU).
ECVT: Story After Maintenance
- ECVT has faced two maintenance challenges this year that should be out of the way by the time the Company reports third quarter results.
- Third quarter sales could remain subdued from the maintenance downtime but should rebound in the fourth quarter with demand for ecoservices remaining elevated
- ECVT’s stock has suffered from a series of block sales and the business undergoing two unplanned maintenance downtimes this year
What’s Trending: Oil & Gas Stocks in Focus
- Please note that this Market Update is only available in Chinese. 本地投资者也可以关注新加坡市场上的油气投资标的，近期它们的表现相当不俗，比如https://investors.sgx.com/securities/stocks?security=T13、https://investors.sgx.com/securities/stocks?security=5WH以及https://investors.sgx.com/securities/adrs?security=TPED等。 同时，在新加坡上市的https://investors.sgx.com/securities/adrs?security=TPED 的趋势和动能也在图表上表现出相当的强劲。.
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