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The IPOX® Week, December 02, 2019

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  • Most IPOX Indexes extend YTD gains towards month-end, outperform Markets anew; IPOX China
  • Focus on the IPOX Europe (ETF: FPXE): Europe-domiciled specialty exposure surges, gains diversified across sectors.
  • IPO Deal-flow Review & Outlook: Alibaba rises in Hong Kong debut. Saudi Aramco to price IPO this week, set to take over the IPO crown from Alibaba as world’s biggest deal.

Most IPOX Indexes extend YTD gain towards month-end, outperform Markets anew; IPOX China lags. Focus on the IPOX Europe (ETF: FPXE): Europe-domiciled specialty exposure surges, gains diversified across sectors.  Amid stable U.S. rates and risk (VIX: +2.27%), most IPOX Indexes finished the last week of the November solidly higher and typically well ahead of the Markets. In the U.S., e.g., the IPOX 100 U.S. (ETF: FPX) rose +1.42% to +28.24% YTD, recording +42 bps. outperformance vs. the S&P 500 (SPX), benchmark for U.S. stocks. Most upside focus, however, was once again on the surging IPOX Europe 100 (ETF: FPXE) which added +1.74% to +25.49% YTD, extending its YTD lead vs. the European Market to a massive +861 bps. Big gains in a diversified group of specialty exposure mostly untracked in the major benchmarks continued to drive the good showing in the IPOX Europe 100 (ETF: FPXE), including German (iPhone) battery maker Varta AG (VAR1 GY: +15.37%), Swiss-domiciled, U.S-traded biotech CRISPR Therapeutics (CRSP US: +15.23%), London-traded payment solutions provider Finablr (FIN LN: +13.75%), Norway-based electricity distributor Fjordkraft (FKFRAFT NO: +7.37%), Italian payment processor 04/19 IPO Nexi (NEXI IM: +7.08%), Milan-traded fitness equipment maker Technogym (TGYM IM: +7.09%) and  Munich-based internet  services  provider

Big Beat: IPOX 100 Europe (ETF: FPXE) Investing Year/Year

M&A play Scout24 (G24 GR: +6.48%). In the IPOX 100 U.S. (ETF: FPX), big declines in computer hardware makers after good earnings but lackluster sales forecasts including HP Enterprises (HPE US: -7.48%) and Dell Technologies (DELL US: -9.50%) were more than offset by another set of strong results by perceived corporate action play specialty apparel store operator Burlington Stores (BURL US: +9.27%) and a good week in select payment/credit processors PayPal (PYPL US: +6.11%) and Transunion (TRU US: +3.25%). We also note more gains in AZ-based car vending machine operator 04/2017 IPO Carvana (CVNA US: +6.15%) which closed out the shortened U.S. trading week at the highest level on record.

Select IPOX® Indexes Price Returns (%) Last Week 2018 2019 YTD
IPOX® Indexes: Global/International
IPOX® Global (IPGL50) (USD) 0.89 -11.37 24.67
IPOX® International (IPXI)* (USD) 0.38 -13.41 25.19
IPOX® Indexes: United States
IPOX® 100 U.S. (IPXO)* (USD) 1.42 -8.80 28.24
IPOX® Indexes: Europe/Nordic
IPOX® 30 Europe (IXTE) (EUR) 1.78 -13.46 28.98
IPOX® Nordic (IPND) 2.29 -15.45 31.56
IPOX® 100 Europe (IPOE)* (USD) 1.74 -16.60 25.49
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) -1.30 -3.21 3.65
IPOX® China (CNI) (USD) -0.58 -22.83 20.26
IPOX® Japan (IPJP)** (JPY) 1.43 -13.70 9.19

* Basis for ETFs: FPX US, FPX LN, FPXE US, FPXU FP, FPXI US, TCIP110 IT and CME-traded e-mini IPOX® 100 U.S. Futures (IPOZ9). ** Live since 07/18.

Select IPOX-linked ETF Performance Updates:  ETFs linked to the following IPOX Indexes closed the week, respectively: IPOX 100 U.S. (ETF: FPX): +29.13% YTD, IPOX International (ETF: FPXI): +28.75% YTD, IPOX 100 Europe (ETF: FPXE): +28.25% YTD.

IPO Deal-flow Review & Outlook: Alibaba rises in Hong Kong debut. Saudi Aramco to price IPO this week, set to take over the IPO crown from Alibaba as world’s biggest deal. At least 6 firms debuted last week**, with the average (median) equally-weighted firm adding +20.15% (+19.84%) based on the difference between the final offering price and Friday’s close. With no U.S. IPOs on the calendar, last week’s focus was on the successful debut of Chinese e-commerce giant Alibaba (9988 HK: +12.73%) in Hong Kong. In Europe, we note the big gains in Swedish real estate property firm Stockholm-traded K-Fast (KFASTB SS: +55.24%). The IPO market is set to remain calm for the week, with only two deals lined up, including Chinese property developer JY Grandmark (2231 HK) and Australian payment company Tyro (TYR AU). Other IPO news last week included: a) Saudi Aramco to price this week, b) African consumer lending company Bayport mulls London listing, c) ThaiBev considers beer unit IPO in Singapore, d) first esport IPO, Denmark’s Astralis, set to list in December, and e) B2B contact database unicorn ZoomInfo filed a confidential IPO.
**term applies

Track Priced & Upcoming IPOs on https://ipox.com/ipox-deals/


The post The IPOX® Week, December 02, 2019 appeared first on Low Cost Stock & Options Trading | Advanced Online Stock Trading | Lightspeed |.



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Share Market

The IPOX® Week, June 1, 2020

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  • Everything IPOX records big returns during May as investors flock to the New Generation of stocks.
  • FANG-free, broad-based IPOX 100 U.S. (ETF: FPX) jumps +11.26%. Diversified IPOX International (ETF: FPXI) rises to +14.33% YTD, closes week at fresh all-time high.
  • JDE Peet’s strong Amsterdam debut, ZoomInfo lined up.

Everything IPOX records big returns during May as investors flock to the New Generation of stocks. Amid stable U.S. yields, lower equity risk (VIX: -2.31%), geo-political jitters, declining global anxiety over Covid-19 and the S&P 500 (SPX) zooming through big technical resistance, IPOX finished May with another strong showing, with multiple Indexes closing out the month at or near all-time highs. In the U.S., e.g., the FANG-free, broad-based IPOX 100 U.S. (ETF: FPX) jumped +3.28% last week to gain +11.26% during May, a massive +673 bps. ahead of the S&P 500 (SPX), benchmark for U.S. stocks. The IPOX 100 U.S. (ETF: FPX) also finished out the month by recording its first positive YTD close since Feb. 26, 2020, as late-day positioning amid previously delayed index rebalancing’s propelled IPOX holdings which are typically underrepresented in the benchmarks. 88% of portfolio constituents rose during May, with the equally-weighted average (median) stock adding a massive +13.96% (+11.52%), ahead of the applied market-cap weighted IPOX 100 U.S. (ETF: FPX) and underlying the big strength in small- and mid-cap specialty exposure in light of a good month for the Russell 2000 (RTY), which gained +6.36% to -16.45% YTD.

Diversified IPOX International (ETF: FPXI) rises to +14.33% YTD, closes week at fresh all-time high. Strong IPOX momentum continued to extend to firms domiciled outside the U.S. with the diversified IPOX International (ETF: FPXI) adding +3.35% to +14.33% YTD, its 8th consecutive weekly gain, and up +10.69% for May. All global regions represented in the portfolio drove returns, including China (CNI), Developed Asia-Pacific (IPTA), Europe (IXTE, IPND) and Japan (IPJP). Gains were broad-based across market-cap spectrum and industries, led by Asia-Pacific key tech plays Sea (SE US: +43.58%), Meituan Dianping (3690 HK: +41.33%), Pinduoduo (PDD US: +40.96%), Freee KK (4478 JP: +39.29%) and Mercari (4385 JP: +18.32%), followed by specialty exposure linked to diverse other industries including Danish drug maker Genmab (GMAB US: +25.24%), Brazil Financial XP (XP US: +20.67%) and leading global energy plays Orsted (ORSTED DC: +14.29%) and Saudi Arabian Oil (ARAMCO AB: +4.27%).

IPOX International ETF (FPXI)-Investing since 11/2015

Long-only IPOX® Indexes Price Returns (%) Last Week 2019 2020 YTD
IPOX® Indexes: Global/International
IPOX® Global (IPGL50) (USD) 12.23 27.93 12.79
IPOX® International (IPXI)* (USD) (ETF: FPXI) 10.69 31.37 14.33
IPOX® Indexes: United States
IPOX® 100 U.S. (IPXO)* (USD) (ETF: FPX) 11.26 29.60 0.38
IPOX® ESG (IPXT) (USD) 7.13
IPOX® Indexes: Europe/Nordic
IPOX® 30 Europe (IXTE) (EUR) 11.99 34.55 15.03
IPOX® Nordic (IPND) 15.29 38.52 14.71
IPOX® 100 Europe (IPOE)* (USD) 9.52 30.97 3.02
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) 10.67 4.41 9.23
IPOX® China (CNI) (USD) 7.79 26.31 14.52
IPOX® Japan (IPJP)** (JPY) 13.00 37.91 -3.10

* Basis for ETFs: FPX US, FPX LN, FPXE US, FPXU FP, FPXI US, TCIP110 IT and CME-traded e-mini IPOX® 100 U.S. Futures (IPOM0). Source: Bloomberg L.P. & Refinitiv/Thomson Reuters. For IPOX Alternative Strategies Returns, please contact info@ipox.com

NOW TRADING: 0.25 tick IPOX 100 U.S. Index Futures (Front month: IPOM0). Whether you are a risk manager or speculator, CME Group – the world’s largest exchange operator – now offers efficient and cost-effective access to the IPOX 100 U.S. Index (ETF: FPX) via emini IPOX 100 U.S. Index Futures (Front month: IPOM0). Contact info@ipox.com for further info and Free Data & Resources.

IPOX-linked ETFs (FPX, FPXI, FPXE) Movers (May 2020 in %):
MYOKARDIA (FPX) 62.83 ARVINAS (FPX) -36.63
LIVONGO HEALTH (FPX) 49.79 HAPAG-LLOYD (FPXE) -34.07
ARGENX (FPXE) 49.70 COUNTRYSIDE (FPXE) -28.23
APPFOLIO (FPX) 44.28 GSX TECHEDU (FPXI) -20.73
SEA (FPXI) 43.58 AIB GROUP (FPXE) -20.08
REDFIN (FPX) 41.93 KOOLEARN TECH. (FPXI) -16.84
MEITUAN DIANPING (FPXI) 41.33 CHINA FEIHE (FPXI) -13.37
PINDUODUO (FPXI) 40.96 COOR SERVICE (FPXE) -10.08
FREEE KK (FPXI) 39.29 ROKU (FPX) -9.67
KINSALE CAPITAL (FPX) 37.47 GILEAD SCIENCES (FPX) -7.35

IPO Deal-flow Review and Outlook: JDE Peet’s surges in Amsterdam $2.4 billion debut. ZoomInfo lined up. With no U.S. IPOs taking place during the shortened U.S. trading week, focus was on deals in Europe with JAB’s coffee empire JDE Peet’s (JDEP NA: +13.78%) and German analytic database management firm Exasol (EXL GR: +35.58%) debuting strongly. With the global IPO window now open, the world’s third-largest record label Warner Music Group (WMG US), business-intelligence platform ZoomInfo Technologies (ZI US), fibrosis biopharma Pliant Therapeutics (PLRX US) and J&J-backed GenScript cell therapy unit spin-off Legend Biotech (LEGN US) are scheduled to list in the U.S. this week, while Tencent-backed payment platform Yeahka (9923 HK) is set to launch with over 600x oversubscription in Hong Kong. Other IPO news include: 1) Brookfield-backed WeWork rival Industrious poised for IPO; 2) Germany OTC drug maker PharmaSGP plans Frankfurt listing; 3) U.S.-listed NetEase and JD.com to list in Hong Kong in upcoming weeks; 4) multiple biotechs added to the U.S. pipeline including Avidity Biosciences Generation Bio, Progenity and Vaxcyte.

The post The IPOX® Week, June 1, 2020 appeared first on Low Cost Stock & Options Trading | Advanced Online Stock Trading | Lightspeed |.



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Retail Resilience is More than Immediate Recovery—It’s Planning Ahead

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One of the many things the current situation has taught businesses worldwide is that in addition to consumer dependency, the supply chain is incredibly fragile. And, a global pandemic that interrupts the proper flow of products today will create a different challenge down the road; one that completely devastates the market. In the immediate post-pandemic landscape, a plan to offload excess inventory that accumulated due to store closures is necessary. But what about the rest of the year?

The ‘What If’ of the Supply Chain

Now more than ever, it’s imperative to have a backup plan for excess stock. This will guarantee that retailers and brands have an inventory management system in play, should usual sales channels be affected. There’s a fine line to walk between meeting consumer demand and accounting for extra—and when something out of the norm affects all the stops involved, an alternative is not only nice to have; it can make the difference between company survival or demise. 

The Clearing of the Warehouse

Trends come and go, as does inventory. How do you make room for new arrivals every season? By clearing out your warehouse—and sustainably, at that. In recent months, partnerships have formed between brands all over the globe that cater to taking care of the planet. There’s a whole market ready to be tapped into—one that supports and contributes to the circular economy that extends the lifecycle of millions of products. We call it the secondary market.

The Model that Supports it All

If the last few years showed an upward trend toward earth-friendly initiatives and the growth of the secondary market, the current landscape has likely shown its necessity. With the world watching and options dwindling, now is the best time to enter this exploding market and take advantage of what it has to offer in terms of recovery, velocity, and sustainability. B-Stock works this way. We help retailers and brands offload their excess inventory via a B2B online auction platform on which thousands of vetted business buyers from all over the world purchase goods. We create these auction marketplaces scaled to each company’s needs, allowing them to set the pace at which they sell, and who they sell to—protecting their brand name. It’s why nine out of the top 10 U.S. retailers are currently using our online auction B2B marketplaces to sell their excess and returned goods.

Learn more about how we’re helping the earth, one item at a time, by checking out our recent Earth Day article. And if you’re ready to take advantage of the secondary market for your overstock, request a demo. 

Request Demo

The post Retail Resilience is More than Immediate Recovery—It’s Planning Ahead appeared first on B-Stock Solutions.



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Economic Package Part 2: Quick Takeaways

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Hon. Finance Minister announced a series of liquidity measures under Part 2 of Economic Package on 13th May 2020.

The key highlights of Part 2 package are in bold, followed by our opinion:

Upto Rs. 3 Lakh Crore for MSME with Credit Guarantee from Government.

The current outstanding amount of MSME loans is around Rs. 18 Lakh Crore. Other loans against assets excluded. Additional line of Rs. 3 Lakh Crore’s unsecured loans can help the companies restart their business. 45 lakh MSME eligible for this loan facility. These firms employ close to 12 Crore people.

Additional Rs. 20,000 Cr for stressed MSME

Around 2 Lakh MSME are under stress meaning they are either overleveraged or they have delayed interest payments/NPA. This provides relief to banks and NBFC that may have high NPA due to SME.

Liquidity for NBFC

Special liquidity of Rs. 30,000 Cr to NBFC/HFC to all investment-grade paper with a government guarantee. Additionally, another Rs. 45,000 Cr to all NBFC with a partial guarantee by the government up to 20%. Many banking experts believe this could be inadequate.

Many NBFCs lend to last-mile borrowers either in non-traditional segments or remote areas or low rated borrowers. NBFC didn’t have funds to lend, which led to a collapse in demand for end borrowers. Banks were reluctant to lend because of risks in NBFC. Since the government is now offering liquidity and partial guarantee, funds will flow to reasonably good NBFC and hence the end borrower.

Liquidity for Discom with state’s guarantee to borrower

Discoms have Rs. 90,000 Cr in dues towards generation and transmission companies. Relief for generation companies to carry on their business. Many industry experts believe there needs to be reform in the power sector instead of the current stopgap arrangement.

25% cut in TDS, TCS

TDS and TCS cut of 25% on payments for contracts, professional fees, interest, rent, dividend, commission, and brokerage. This provides liquidity to businesses, individuals, and investors. The total expected liquidity in hand will be approx. Rs. 50,000 Cr.

Current measures are mostly liquidity measures and may have temporary relief to restart a business. However, more reforms/stimulus is needed to fix the demand side of the economy which got affected due to i) job losses/salary cuts ii) reluctance to purchases from poor sentiment.

Many of these measures may not have desired implications unless we start seeing economic activity reinstated. Our interpretation of potential benefits is based on the fact that the economy will be reopened in a reasonable time.

We will be hearing series announcements in the coming days. We will be sharing quick takeaways with our interpretation.

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The post Economic Package Part 2: Quick Takeaways appeared first on Investment Shastra.



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