Thrace Group - Edison Group

Overview
Price performance
Financials
Research
Thematics

Latest Insights

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Industrials |
Update

21.06.23

Thrace Group — Resilient business model in a challenging market

Outlook

13.04.23

Thrace Group — Demonstrable core growth as COVID-19 subsides

Industrials |
Update

06.12.21

Thrace Plastics — Maintaining a steady course

Industrials |
Update

18.10.21

Thrace Plastics — Investing for the future

Balance Sheet

Forecast net debt (€m)

17.3

Forecast gearing ratio (%)

6

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	0.0	28.3	38.1
Relative	(2.9)	9.2	(15.6)
52 week high/low	€5.6/€3.6

Financials

Edison Investment Research is terminating coverage on Thrace Group (PLAT). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant. Previously published reports can still be accessed via our website.

Y/E Dec	Revenue (€m)	EBITDA (€m)	PBT (€m)	EPS (fd) (c)	P/E (x)	P/CF (x)
2021A	428.4	103.8	85.9	154.58	3.5	2.2
2022A	394.4	48.3	27.5	49.66	10.9	4.8
2023E	389.3	46.2	22.1	38.00	14.2	5.1
2024E	415.3	49.4	25.4	43.95	12.3	4.8

Research

thematic

Financials

20.09.24

Banco Angolano de Investimentos (BAI) – Money-centre bank with lending optionality

thematic

Industrials

28.08.24

The art of measurement – Challenges in metrology

thematic

Investment Companies

12.08.24

Vietnam Holding – Vietnam in the global digital race

thematic

Investment Companies

31.07.24

US small-cap equities – Time to shine?

thematic

TMT

29.07.24

MediaWatch – Encouragements and frustrations

thematic

Consumer

22.07.24

ConsumerWatch – The times they are a-changin’

thematic

Investment Companies

10.06.24

Emerging markets – Worthy of consideration

thematic

Investment Companies

06.06.24

Dynam Capital at the 2024 Vietnam ESG Conference

thematic

TMT

06.06.24

MediaWatch – Glimpses of positivity

thematic

Consumer

30.05.24

ConsumerWatch – Give me a reason to love you

thematic

Investment Companies

16.05.24

UK stock market – Scope for further upside in UK large-cap stocks

thematic

Investment Companies

06.03.24

Listed private equity – Performing a balancing act

thematic

Consumer

23.02.24

ConsumerWatch – At least someone loves me

thematic

TMT

02.02.24

MediaWatch – Rinse and repeat

thematic

Healthcare

04.01.24

Outlook for 2024: Life sciences – where has the conviction gone?

thematic

Financials

08.12.23

South African life assurers: Where is the growth?

thematic

Consumer

21.11.23

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media

thematic

TMT

21.11.23

Deutsches Eigenkapitalforum (EKF) 2023 technology

thematic

Financials

20.11.23

Deutsches Eigenkapitalforum (EKF) 2023 financials and investment companies

thematic

Industrials

20.11.23

Deutsches Eigenkapitalforum (EKF) 2023 industrials

thematic

Healthcare

20.11.23

Deutsches Eigenkapitalforum (EKF) 2023 healthcare

volition01

thematic

Healthcare

13.11.23

VolitionRx – Decoding the DNA of cancer

thematic

TMT

07.11.23

MediaWatch – Still waiting…

thematic

Consumer

30.10.23

ConsumerWatch – Falling into the fall

thematic

Metals & Mining

27.09.23

Shades of the 1970s

thematic

Industrials

04.09.23

The long and winding road

thematic

TMT

28.07.23

MediaWatch – Targeting the opportunities

thematic

Consumer

26.07.23

ConsumerWatch – Making the most of the summer

thematic

Healthcare

13.06.23

ASCO 2023 key takeaways

thematic

Financials

09.05.23

IFRS 17: Impact on life assurance companies

thematic

TMT

25.04.23

MediaWatch – Vision On

thematic

Consumer

21.04.23

ConsumerWatch – A Spring in the step

thematic

Industrials

13.04.23

Quantum computing: A booming industry

thematic

Metals & Mining

28.03.23

Critical minerals: The investment vacuum

thematic

Financials

17.03.23

Crypto, are you dead yet?

thematic

Industrials

27.02.23

UK housebuilders

thematic

Investment Companies

13.02.23

European equities

thematic

Investment Companies

08.02.23

Listed Private Equity

samuel-scrimshaw-kp_87tExCwI-unsplash

thematic

Metals & Mining

01.02.23

Lithium’s adolescence

Concept of energy storage unit consisting of multiple conected containers with batteries. 3d rednering.

thematic

Industrials

01.02.23

Battery energy storage

Digital Marketing and Internet Media Technology Platform

thematic

TMT

31.01.23

MediaWatch – Screening well

thematic

Investment Companies

27.01.23

Vietnamese equities: Due a comeback?

thematic

Healthcare

26.01.23

Machine learning in drug development

thematic

Consumer

23.01.23

ConsumerWatch – January sales

thematic

Healthcare

06.01.23

Outlook for 2023: Biotechs remain central to novel drug development

Cancer cells

thematic

Healthcare

04.01.23

Oncology ABCs (part four): Blood cancers (AML) – notable innovations

cell DNA double helix

thematic

Healthcare

20.12.22

Cell and gene therapies

thematic

Investment Companies

30.11.22

Investment companies: Latin America is worthy of consideration

thematic

Healthcare

28.11.22

Drug delivery platforms

thematic

Real Estate

11.11.22

South African industrial property fundamentals are strong

thematic

Metals & Mining

08.11.22

Lepidico: Offer closes, oversubscribed

thematic

Healthcare

07.11.22

Oncology ABCs (part three) – thinking outside the box in women’s cancer

thematic

Financials

03.11.22

UK motor P&C insurers series

thematic

Healthcare

01.11.22

Neuroscience comeback

thematic

Real Estate

24.10.22

South African retail property funds remain resilient

thematic

Consumer

13.10.22

ConsumerWatch – Bargains galore

thematic

Consumer

05.10.22

IPO apocalypse

thematic

Healthcare

03.10.22

Oncology ABCs (part two) – vaccines: niche no longer

thematic

Consumer

03.10.22

Food tech – At the forefront of food innovation

thematic

TMT

10.08.22

ESG, moving beyond the box tick

thematic

Consumer

18.07.22

ConsumerWatch – Value emerging

thematic

Healthcare

01.07.22

Oncology ABCs (part one) – a small-cap biopharma prospectus series

thematic

Industrials

22.06.22

A new paradigm for space

thematic

Industrials

30.05.22

Geopolitical conflict to drive renewables surge

thematic

Industrials

25.05.22

The emergence of mega-constellations

thematic

Industrials

23.05.22

Internet in the sky

thematic

12.05.22

Global markets: Valuation ‘normalisation’ continues

thematic

Financials

11.05.22

Revisiting IPOs in London

thematic

TMT

11.05.22

Direct tech investors

thematic

Investment Companies

10.05.22

The case for US capital markets

thematic

Industrials

10.05.22

Truth creates light

thematic

Industrials

09.05.22

All-seeing eye in the sky

thematic

Metals & Mining

27.04.22

Five (more) things every investor should know about lithium and Lepidico

thematic

Healthcare

26.04.22

Cannabinoid manufacturing – Innovative approaches to the production of cannabinoids

thematic

TMT

21.04.22

Seven things every investor needs to know about SenSen

thematic

20.04.22

The industrialisation of space

thematic

Industrials

01.04.22

Five things every investor should know about everyday decarbonisation and Itaconix

thematic

Industrials

01.04.22

Feeding the world

thematic

28.03.22

Global strategic insight: Still neutral on global equities, with caveats

thematic

Consumer

24.03.22

Circular economy business models

thematic

Metals & Mining

21.03.22

Decarbonisation – A potential opportunity for aluminium producers

thematic

Consumer

11.03.22

Seven things every investor should know about Unbound Group

thematic

Financials

11.03.22

Five things you need to know about AQRU and crypto 2.0

thematic

07.03.22

Global strategic insight: Putin’s invasion – turning back now

thematic

28.02.22

Global perspectives: Investment implications of Putin’s invasion

thematic

Consumer

04.02.22

Moving from a vegan January to a sustainable one

thematic

Industrials

02.02.22

BayWa – Focus on sustainability

thematic

19.01.22

Global perspectives: Earnings momentum still positive

thematic

Consumer

10.01.22

Cultivated meat – Engineering the growth of alternative meats

thematic

Metals & Mining

13.12.21

The PGM markets – Outlook and price forecasts

thematic

Industrials

13.12.21

Have yourself a sustainable little Christmas

thematic

01.12.21

Global perspectives – Omicron: A 2-week waiting game

thematic

Industrials

25.11.21

COP26: What does it mean for business?

thematic

25.11.21

Equity strategy and market outlook – November 2021

thematic

Healthcare

10.11.21

Artificial intelligence in drug discovery

thematic

Industrials

01.11.21

Investment themes: IPO boom in London

thematic

Energy & Resources

29.10.21

Demand for Teslas points to lithium deficit

thematic

Industrials

29.10.21

COP26: No matter the outcome, the private sector is the engine of change

thematic

28.10.21

Equity strategy and market outlook – October 2021

thematic

Industrials

28.10.21

COP26: Time to realign your supply chain with net-zero goals?

thematic

14.10.21

Global Perspectives: Remaining cautious as risks surface

thematic

30.09.21

Equity strategy and market outlook – September 2021

thematic

TMT

29.09.21

Quantum dots – all the colours of the rainbow

thematic

21.09.21

Global perspectives: Moving to a cautious outlook

thematic

13.09.21

Laser diodes – may the force be with you

thematic

TMT

09.09.21

Micro-LEDs – small is beautiful

thematic

07.09.21

Caution – slowdown ahead

thematic

06.09.21

The five key ESG themes investors are asking about now

thematic

Consumer

06.09.21

The future of fish – The investment case for sustainable fishing

thematic

26.08.21

Equity strategy and market outlook – August 2021

thematic

Consumer

25.08.21

The growth of UK food ordering and delivery platform

thematic

Financials

23.08.21

Bitcoin’s investment thesis – How ‘dirty’ is the Bitcoin network’s carbon footprint?

thematic

10.08.21

Global perspectives: Valuations in the ointment

thematic

29.07.21

Equity strategy and market outlook – July 2021

thematic

Energy & Resources

28.07.21

Finding the sea of green – The opportunity and options for shipping green H2

thematic

Healthcare

27.07.21

Biosynthesis – Taking the cannabinoid market to new heights

thematic

20.07.21

Global equities: Volatility rises at the upper reaches of valuation

thematic

TMT

14.07.21

Five things every investor needs to know about Mynaric

thematic

08.07.21

Global perspectives: Growth wobble unnerves markets – can UK keep delta in check?

thematic

24.06.21

Equity strategy and market outlook – June 2021

thematic

17.06.21

Five key takeaways from the Edison Open House Future of Transportation 2021

thematic

16.06.21

Global perspectives: Sitting still can be hard to do

thematic

27.05.21

Equity strategy and market outlook – May 2021

thematic

Industrials

18.05.21

The circular economy

thematic

29.04.21

Equity strategy and market outlook – April 2021

thematic

Energy & Resources

28.04.21

Decarbonisation

thematic

Industrials

20.04.21

EV outlook #1 – Growth, policy and net zero

thematic

07.04.21

Reasons to be cheerful – UK leisure ready and waiting

thematic

25.03.21

Equity strategy and market outlook – March 2021

thematic

Healthcare

22.03.21

Seven things every investor should know about SIGA technologies & biological weapons

thematic

18.03.21

Global perspectives: Rising US bond yields? Value investors have little to fear

thematic

Real Estate

17.03.21

South African listed property sector

thematic

11.03.21

South African life assurance – Potential capital release boost

thematic

02.03.21

Global perspectives UK: The value of vaccination

thematic

25.02.21

Equity strategy and market outlook – February 2021

thematic

Healthcare

01.02.21

Confidence renewed as new COVID-19 vaccines demonstrate protection against emergent strains and efficacy with a single-dose regimen

thematic

28.01.21

Equity strategy and market outlook – January 2021

thematic

12.01.21

Equity valuations matter when framed in the right context

thematic

04.01.21

Global perspectives: Profits forecasts robust as COVID-19 rages

thematic

16.12.20

ESG investing

thematic

Investment Companies

07.12.20

Value Investing: Living with the reality, waiting for the inevitable

thematic

26.11.20

Equity strategy and market outlook – November 2020

thematic

19.11.20

Virtual conferences are amazing. But can we get back together soon?

thematic

12.11.20

An even more momentous trend – Brilliance overcomes darkness

thematic

29.10.20

Equity strategy and market outlook – October 2020

thematic

Consumer

29.10.20

Meating Demand – The lean, green money-making machine

thematic

23.10.20

Global Perspectives: US election – Trump OK, Biden OK but neither not OK.

thematic

08.10.20

Global perspectives – Cyclicals recovery building a head of steam

thematic

24.09.20

Equity strategy and market outlook – September 2020

thematic

15.09.20

After the storm: Earnings estimates stabilise

thematic

27.08.20

Equity strategy and market outlook – August 2020

thematic

24.08.20

Illuminator – August Update

thematic

TMT

16.08.20

Semiconductor winners – European companies with strong positions

thematic

30.07.20

Equity strategy and market outlook – July 2020

thematic

28.07.20

Global perspectives – Global growth stocks over-hyped in 2020?

thematic

20.07.20

Short Monitor – Hammerson most shorted UK stock

thematic

17.07.20

Illuminator – July Update

thematic

15.07.20

Global perspectives: Still neutral on equities, but uncertainty reigns

thematic

03.07.20

Global perspectives: Markets cut to the chase – should you?

thematic

25.06.20

Equity strategy and market outlook – June 2020

thematic

TMT

24.06.20

The small satellite market – Small is beautiful

thematic

11.06.20

Global perspectives: Inject a note of caution into asset allocations

thematic

28.05.20

Equity strategy and market outlook – May 2020

thematic

22.05.20

Global perspectives: The biggest recession since the Great Depression

thematic

15.05.20

Global perspectives: Between a lockdown and a hard place

thematic

30.04.20

Equity strategy and market outlook – April 2020

thematic

17.04.20

Global perspectives: Past the first inflection point in consensus earnings estimates

thematic

TMT

08.04.20

European video games: A safe haven in troubled times

thematic

06.04.20

Global perspectives: Difficult headlines, discounted markets

thematic

18.03.20

Illuminator – March Update

thematic

18.03.20

Global perspectives: The time to panic has passed

thematic

04.03.20

Edison Exhibits- A bull market for precious metals

thematic

27.02.20

Equity strategy and market outlook – February 2020

thematic

TMT

27.02.20

Blockchain adoption: Implications for the financial services sector

thematic

19.02.20

decline on coronavirus impact

thematic

19.02.20

Lighthouse – An ESG Centred Week

thematic

17.02.20

Illuminator – February Update

thematic

30.01.20

Equity strategy and market outlook – January 2020

thematic

27.01.20

Coronavirus: Markets wake-up to the risks

thematic

27.01.20

Edison Exhibits – 2020: Fearful of missing out?

thematic

17.01.20

Illuminator – January Update

thematic

Industrials

12.12.19

Battery charge: The rise of lithium-ion – options and implications

thematic

11.12.19

UK election – If the polls are right, UK risk premium set to fall

thematic

28.11.19

Equity strategy and market outlook – November 2019

thematic

20.11.19

Mega-cap equities still priced to outperform bonds

thematic

19.11.19

Illuminator – November Update

thematic

06.11.19

Earnings forecasts: 2019

thematic

04.11.19

Short monitor- Fluttering uncertainty and trade unions

thematic

31.10.19

Equity strategy and market outlook – October 2019

thematic

Healthcare

30.10.19

Edison Exhibits- antibiotic development

thematic

24.10.19

Past the peak of political risk?

thematic

Industrials

17.10.19

Water – The real liquidity crisis

thematic

17.10.19

Illuminator – October Update

thematic

Industrials

16.10.19

Greece – Changing the narrative

thematic

07.10.19

Brexit – Through the fog of war on public opinion

thematic

19.09.19

Moving to a neutral position on global equities

thematic

17.09.19

Illuminator: September Update

thematic

30.08.19

Equity strategy and market outlook – August 2019

thematic

Consumer

14.08.19

Illuminator: August Update

thematic

14.08.19

Staying focused on the facts – the risks remain in place

thematic

Investment Companies

07.08.19

Post Woodford- A spotlight on smaller company liquidity

thematic

TMT

05.08.19

European video games

thematic

25.07.19

Equity strategy and market outlook – July 2019

thematic

Healthcare

17.07.19

The next wave in AMD

thematic

17.07.19

2019 earnings forecasts back on a declining trend

thematic

16.07.19

Illuminator: July Update

thematic

TMT

10.07.19

Diversification and scale for online success

thematic

Financials

03.07.19

IFRS 16

thematic

27.06.19

Equity strategy and market outlook – June 2019

thematic

26.06.19

Liquidity

thematic

Financials

26.06.19

DACH Industrial & Logistic Property

thematic

24.06.19

2019 earnings forecasts losing momentum

thematic

20.06.19

Minimal capitulation from the FOMC

thematic

18.06.19

Whatever it takes… all over again!

thematic

Healthcare

18.06.19

The A-B-T of biosimilars- Explaining contemporary life science issues

thematic

Healthcare

10.06.19

Cannabinoid Therapies- The coming retail wave

thematic

06.06.19

Could the US Fed be enabling a continuation of the trade war?

thematic

Investment Companies

05.06.19

How to buy and sell investment trusts

thematic

30.05.19

Equity strategy and market outlook – May 2019

thematic

29.05.19

The value of a shareholder register

thematic

Healthcare

22.05.19

Cannabinoid Therapies- Therapeutics turning a corner

thematic

20.05.19

Shifting trade politics should not be ignored

thematic

Metals & Mining

16.05.19

Alliance Mineral Assets secures strategic investment from Galaxy and Jiangxi

thematic

Financials

14.05.19

Time value of money

thematic

TMT

08.05.19

5G – Strategic importance, but lacking a near-term commercial driver

thematic

07.05.19

A risk-on environment is a good time to take risk off

thematic

29.04.19

ECB: Next ECB President must keep up the pace of change

thematic

Metals & Mining

24.04.19

Piedmont Lithium increases its mineral resource estimate by 21%

thematic

18.04.19

Equity strategy and market outlook – April 2019

thematic

Financials

15.04.19

Cash flow

thematic

09.04.19

Stronger survey data quashes recession fears for now

thematic

Healthcare

08.04.19

Trial outcomes and value – Explaining contemporary clinical trial issues

thematic

08.04.19

Industrial Automation

thematic

Energy & Resources

03.04.19

Verbier appraisal points to lower than expected resources

thematic

28.03.19

Equity strategy and market outlook – March 2019

thematic

26.03.19

Yield curve a US recession signal? Maybe not this time

thematic

Investment Companies

26.03.19

Types of investment trusts

thematic

21.03.19

Brexit: EU can do it if you really want…

thematic

Energy & Resources

20.03.19

Orinduik resource upgrade for Eco Atlantic offshore Guyana

thematic

14.03.19

Brexit: PM May’s deal may finally be in sight

thematic

Energy & Resources

13.03.19

No moveable hydrocarbons in Alaskan Winx-1 well

thematic

Energy & Resources

12.03.19

Hydrocarbon discovery for Murphy at Cholula-1 offshore Mexico

thematic

12.03.19

Brexit: The big guns go silent

thematic

08.03.19

ECB: Buy the rumour, sell the news

thematic

Healthcare

04.03.19

Drug pricing – Market access and reimbursement

thematic

28.02.19

Equity strategy and market outlook – February 2019

thematic

26.02.19

UK video games – Heterogeneous not homogeneous

thematic

TMT

26.02.19

UK video games – Heterogeneous not homogeneous

thematic

14.02.19

Market outlook: balanced but still biased to upside

thematic

Financials

08.02.19

Enterprise versus equity valuation

thematic

Healthcare

29.01.19

The diagnostics sector

thematic

28.01.19

ECB fiddles as eurozone turns

thematic

Metals & Mining

22.01.19

Gold stars and black holes

thematic

Financials

15.01.19

Deutsche Börse’s Scale

thematic

Financials

08.01.19

Price to earnings ratio

thematic

20.12.18

FOMC: US Fed merely matches expectations

thematic

19.12.18

Brexit: Prepare for a confrontation

thematic

12.12.18

Brexit on pause as UK PM challenged

thematic

23.11.18

Economic survey data on a weakening trend outside US

thematic

Energy & Resources

20.11.18

Sound Energy well result highlights reservoir variability in Morocco

thematic

16.11.18

Brexit: A decisive step into the fog

thematic

09.11.18

2019 Earnings forecasts softening

thematic

16.10.18

Market valuations improving in UK and Europe

thematic

11.10.18

Rising US bond yields spark volatility breakout

thematic

Energy & Resources

25.09.18

Tullow’s Namibian well disappoints

thematic

21.09.18

Brexit: UK Risk premium likely to remain in place

thematic

17.09.18

2018 Earnings forecasts stable over the summer

thematic

12.09.18

Choose your narrative with care for 2019

thematic

Energy & Resources

04.09.18

Tullow spuds Cormorant well offshore Namibia

thematic

Energy & Resources

20.08.18

Southern gas corridor to the EU nears agreement

thematic

13.08.18

Turkey:When risks collide

thematic

Energy & Resources

01.08.18

Mexico: reassurance or uncertainty?

thematic

23.07.18

Earnings estimates: Marginal declines could point to trouble ahead

thematic

27.06.18

The post-ASCO IO pecking order

thematic

27.06.18

The post-ASCO IO pecking order

thematic

27.06.18

The post-ASCO IO pecking order

thematic

20.06.18

Earnings revisions: No sign of a trade war (yet)

thematic

12.06.18

Guaranteed security? Investment implications of US foreign policy

thematic

07.06.18

Global implications of rising US yields

thematic

29.05.18

Long hot Italian summer

thematic

25.05.18

Energy drives estimates higher – but oil now under pressure

thematic

25.05.18

The Global Credit Market

thematic

25.05.18

Italy: Political risk strikes (again) in eurozone

thematic

09.05.18

2018 Earnings forecasts: Another Trump bump for energy

thematic

20.04.18

High equity valuations face macro headwinds

thematic

16.04.18

2018 Earnings forecasts: Still robust, for now

thematic

Energy & Resources

28.03.18

UK independents pick up blocks in Mexico’s Round 3.1

thematic

23.03.18

Market declines: US LIBOR or US trade war?

thematic

20.03.18

Social Media’s Dieselgate?

thematic

15.03.18

2018 Earnings forecasts: US stable, modest declines in Europe

thematic

Energy & Resources

07.02.18

Lower break even for Johan Sverdrup

thematic

01.02.18

Rising bond yields: Mini-drama perhaps, but not a crisis

thematic

18.01.18

Earnings: The real Trump bump

thematic

20.12.17

Canaries in the monetary coal mine?

thematic

14.12.17

Market volatility unsustainably low as bonds and equities diverge

thematic

Energy & Resources

13.12.17

Kosmos exploration hiccups

thematic

Energy & Resources

06.12.17

Positive news from Genel’s Taq Taq

thematic

24.11.17

Economic surprise accelerating

thematic

Energy & Resources

20.11.17

Ludicrous growth of the EV

thematic

Energy & Resources

07.11.17

Tullow’s Araku result completes our 2017 wells to watch list

thematic

Energy & Resources

16.10.17

Fancy a Ferrari or an EV?

thematic

Energy & Resources

10.10.17

Verbier delivers after sidetrack

thematic

09.10.17

Economic data surprising to the upside in Q3

thematic

Energy & Resources

03.10.17

Revealing Big Oil hurdle rates

thematic

28.09.17

Earnings momentum – 2017 forecasts drifting slowly lower

thematic

Energy & Resources

26.09.17

Fatala well latest disappointment offshore West Africa

thematic

Energy & Resources

18.09.17

Partridge and Verbier fail to find oil

thematic

12.09.17

Interesting times for central bankers

thematic

Energy & Resources

17.08.17

Made a discovery? What are the odds of another?

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16.08.17

Earnings momentum remains stable for now

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11.08.17

North Korea: A problem not of Trump’s making

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Energy & Resources

08.08.17

Kosmos searching for more investors

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Energy & Resources

26.07.17

Killing the goose that laid the golden eggs

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17.07.17

Fed policy: Don’t forget your flip-flops

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29.06.17

A tipping point as monetary policy shifts

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Healthcare

21.06.17

ASCO 2017

thematic

21.06.17

Equity risks are rising: economic surprises turning lower

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Energy & Resources

20.06.17

South east basin most popular in latest Mexico round

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12.06.17

Fed rate decision: One and done – or not done?

thematic

09.06.17

UK election: Another step-up in political risk

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Energy & Resources

07.06.17

Porcupine Basin attracts Total

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Energy & Resources

26.05.17

Tory manifesto – what does it mean for oil and gas?

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14.05.17

Earnings forecasts: a short-term support for markets

thematic

05.05.17

Not really an economic surprise…

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03.05.17

Sector view: Boring old insurance

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Energy & Resources

02.05.17

Cairn/FAR return to deepwater FAN in Senegal

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24.04.17

French Election: Is populism already passé?

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Energy & Resources

12.04.17

E&P industry funding cost still high

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23.03.17

Market wobble? Still time to re-position portfolios

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16.03.17

Just what the Fed wanted

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13.03.17

Ready for the rollover?

thematic

03.03.17

Earnings trends: Gap risk endures in US

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Energy & Resources

01.03.17

What a difference a year makes

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TMT

24.02.17

Mobile ecosystems

thematic

23.02.17

FOMC minutes: Fairly soon = March or June?

thematic

17.02.17

Earnings estimates stuck in low gear

thematic

16.02.17

C’est l’économie… French and German bond yields diverge

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15.02.17

Yellen’s hawkish testimony: Rate increases ahead

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Energy & Resources

15.02.17

Filicudi discovery – positive start to 2017 Barents exploration

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Energy & Resources

10.02.17

Tullow dipping a toe back into exploration

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TMT

08.02.17

Mobile ecosystems

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Energy & Resources

06.02.17

Diversified Gas and Oil – quick thoughts

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03.02.17

Implicit forward guidance on asset prices?

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Energy & Resources

27.01.17

EnQuest acquisition: Ability to extract net economics (NAV) will be demonstrated over time

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17.01.17

Earnings Revisions: Waiting for upgrades?

thematic

09.01.17

Valuations trump noisy narratives: increased caution on global equities

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05.12.16

You can’t be given a bloody nose twice

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Energy & Resources

24.11.16

Fortuna LNG deal underlines the structurally higher costs of capital seen by E&Ps

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Energy & Resources

24.11.16

Majors – failure to make sufficient returns will raise costs of capital across the E&Ps

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22.11.16

Earnings revisions: Gap widens between U.S. equities and earnings forecasts

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14.11.16

Forward guidance – Trump style

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10.11.16

Trump’s double surprise

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04.11.16

BOE: Bank on track

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24.10.16

US and European earnings trends: Better to travel than to arrive

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17.10.16

Sterling: Lower for longer as the EU strikes back

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Energy & Resources

12.10.16

Development lead times

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Energy & Resources

27.09.16

Barents Sea – frontier drilling in 2017

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21.09.16

Just don’t mention the yen

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01.09.16

UK economy and corporate profits: Refusing to follow forecasts

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28.08.16

Equity valuations – party like it’s 1999… and 2007?

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Energy & Resources

17.08.16

Understanding of connectivity in Senegal key to tapping upside for Cairn

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16.08.16

Earnings forecasts: Reassuringly stable?

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10.08.16

Gilt shortage: It takes two to tango

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03.08.16

BOE: All priced in and nowhere to go?

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Energy & Resources

27.07.16

SDX initiation

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22.07.16

UK earnings trends – stable and few surprises

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Energy & Resources

19.07.16

Porcupine Basin Phase 2

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Energy & Resources

18.07.16

Conoco sells Senegalese discovery blocks – fair price?

thematic

21.06.16

Brexit, Fed: a short squeeze

thematic

13.06.16

Fed boxed in by yield curve

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Energy & Resources

09.06.16

Oil and Gas Macro Outlook – Tightening market buffered by abundant inventories

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31.05.16

Beware of buy and hold

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04.05.16

Earnings forecasts: absence of a negative is not a positive

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Energy & Resources

27.04.16

Exploration Watch – Porcupine Basin

thematic

25.04.16

Brexit: Ultimately unlikely

thematic

11.04.16

M&A in the UK – is Brexit opening a (relative) value opportunity?

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Energy & Resources

18.03.16

Bonds vs Equity vs Oil

thematic

17.03.16

Was there a “plaza” accord after all?

thematic

15.03.16

Corporate profits – Too early to call an upturn

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Energy & Resources

02.03.16

Genel’s Taq Taq highlights complexity of fractured reservoirs

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Energy & Resources

23.02.16

Oil & Gas UK 2016 Activity Survey: Impressive improvements no match for oil price headwinds

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10.02.16

Yellen’s testimony – No change to the Fed’s view

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08.02.16

Rising credit stress in the banking sector add to investor concerns

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Energy & Resources

02.02.16

Oil Macro outlook 2016 – oversupply in the short term

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Energy & Resources

27.01.16

Oil & gas macro outlook – Oversupply short term, lower break-even long term

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19.01.16

Global market sell-off-are we nearly there yet

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Energy & Resources

12.01.16

Governments need to adapt to the oil price too

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Energy & Resources

11.01.16

Exploration Watch – West of Shetland

thematic

06.01.16

Profits expectations declining as fast as 2008

thematic

21.12.15

Why the Spanish election is being largely ignored by investors

thematic

14.12.15

FED flips, flops, flips?

thematic

04.12.15

ECB: Sins of omission

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26.11.15

The grow slow years

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Energy & Resources

17.11.15

100% success rate continues offshore Mauritania/Senegal

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16.11.15

Paris terror unlikely to be a market event

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13.11.15

Fed Governors’ speeches – bias to tighten in Dec

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10.11.15

Fed flip, market flops?

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Energy & Resources

29.10.15

Falklands exploration: Humpback results finally in

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Energy & Resources

28.10.15

Is the Serica deal a sign of improved North Sea co-operation?

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Energy & Resources

20.10.15

Genel trading statement

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Energy & Resources

16.10.15

Is there a link between the oil prices and deals?

thematic

Energy & Resources

15.10.15

Kurdistan payments ~ two payments in two months

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TMT

13.10.15

Mobile ecosystems

thematic

Energy & Resources

15.09.15

Plexus Holdings taps subsea market

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Energy & Resources

27.08.15

Gulf of Mexico – stepping up to the challenges

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Energy & Resources

03.08.15

Kurdistan ~ payments coming

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Energy & Resources

27.07.15

Petroceltic ~ Creating value in Algeria through execution

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Energy & Resources

27.07.15

Cairn ~ Exposure to Senegal exploration, at lower risk

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Energy & Resources

27.07.15

Rockhopper ~ Building a full cycle, exploration-led E&P

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Energy & Resources

14.07.15

Wentworth Resources ~ company snapshot

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Energy & Resources

13.07.15

Genel operations update ~ still waiting for export payments

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Energy & Resources

25.06.15

Company Snapshot ~ Sterling Energy

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Energy & Resources

15.06.15

Company Snapshot ~ Solo Oil

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Energy & Resources

22.05.15

What’s the marginal cost of oil supply – $60/bbl or $80/bbl?

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Energy & Resources

07.05.15

Saudi-led market share war with US producers continues

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Energy & Resources

01.05.15

Oil & gas macro outlook – The market is returning to equilibrium

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Energy & Resources

07.04.15

First Falklands well in two years looks positive

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Energy & Resources

26.03.15

Nigerian elections 28th March

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TMT

23.03.15

NZ – Edison talks tech

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TMT

23.03.15

AUS – Edison talks tech

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Energy & Resources

19.03.15

Ophir results – Acting counter-cyclically… or not?

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TMT

18.03.15

Mobile ecosystems

thematic

Energy & Resources

13.03.15

Reserves – better not blink or they could be gone

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Energy & Resources

13.03.15

Omne trium perfectum

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Energy & Resources

10.03.15

Thoughts post Cairn FY14 results & India tax update

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Energy & Resources

05.03.15

Finite storage capacity could call time on the financial demand currently supporting oil prices

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Energy & Resources

03.03.15

Exploration Watch – Falklands

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Energy & Resources

25.02.15

Catalytic converter – Five themes from oil majors’ 2015 updates

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Energy & Resources

25.02.15

Exploration watch – Drilling returns to the Falklands

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Metals & Mining

06.02.15

Mining sector report: Gold: The value of gold and other metals

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Energy & Resources

14.01.15

Oil & Gas – Macro Outlook: Current prices are not sustainable

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Energy & Resources

03.12.14

Catalytic converter – Crude oil prices: A range-bound future

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Industrials

24.11.14

Renewables rising – Sector primer

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Consumer

11.11.14

Deutsche Börse Eigenkapitalforum 2014 Research Guide

thematic

TMT

15.10.14

Mobile ecosystems

thematic

Energy & Resources

03.10.14

Oil & Gas – Macro Outlook: Swimming in oil

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Energy & Resources

02.05.14

Oil & gas macro outlook: Ukraine supports prices for now

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Healthcare

05.03.14

Edison healthcare quarterly: A boost for allergy immunotherapy

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Energy & Resources

04.03.14

ASX Spotlight Conference – London, 6 March 2014

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Metals & Mining

26.02.14

Making a case for uranium: Life after Fukushima

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Metals & Mining

28.01.14

Indaba special, 2014

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Energy & Resources

28.01.14

Oil & gas macro outlook: North America is shifting the supply needle

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Energy & Resources

10.10.13

Fallen angels, rising stars: Old LatAm basins creating fresh opportunities

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Energy & Resources

04.10.13

Oil & gas macro outlook: The market remains well supplied

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Industrials

27.09.13

German Mittelstand Conference

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Energy & Resources

14.08.13

Oil & Gas – Oil & gas research principles

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Industrials

11.06.13

German industrials spotlight: Sand in the gears

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Industrials

15.05.13

German industrials spotlight: Industrial machinery

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Energy & Resources

08.05.13

Oil & Gas – Falklands oils: Time to pause and draw breath

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Industrials

10.04.13

German industrials: Global ambitions

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Energy & Resources

01.03.13

ASX Small to Mid Caps Conference – London, 7 March 2013

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Energy & Resources

28.02.13

Asia-Pacific resources quarterly: February 2013 edition

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26.02.13

Macro Outlook: Prices look vulnerable

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Energy & Resources

08.02.13

Seismic reflections: Seismic Elections

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Metals & Mining

01.02.13

Indaba special, 2013

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Healthcare

07.12.12

Edison healthcare quarterly: Boom times for US biotech

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Energy & Resources

16.11.12

Seismic reflections: Oil market dynamics turn bearish

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06.11.12

Macro Outlook: North American supply gathers pace

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Energy & Resources

05.10.12

Seismic reflections: Sentiment vs reality

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Metals & Mining

02.10.12

Edison mining quarterly: October 2012

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Metals & Mining

14.09.12

Mining catalyst: China’s new stimulus

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Energy & Resources

07.09.12

Seismic reflections: Take me out

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Healthcare

30.08.12

Edison healthcare quarterly: Crisis? What crisis?

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Energy & Resources

24.08.12

Seismic reflections: Unstoppable force?

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Energy & Resources

20.08.12

Asia-Pacific resources quarterly: August edition

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Energy & Resources

10.08.12

Seismic reflections: Stick or twist – looks like twist

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Energy & Resources

13.07.12

Seismic reflections: What’s next for UK North Sea?

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Energy & Resources

15.06.12

Seismic reflections: The next major US resource play

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Healthcare

28.05.12

Edison healthcare quarterly: How to please some of the people some of the time

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Investment Companies

24.05.12

Investment Trusts Quarterly: Biotechnology & healthcare trusts

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Energy & Resources

10.05.12

Asia-Pacific resources quarterly

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Energy & Resources

04.05.12

Seismic reflections: Closing bell for the 27th UK licensing round

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Metals & Mining

25.04.12

Edison mining quarterly: April 2012

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24.04.12

Macro Outlook: Supply concerns wane

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Energy & Resources

20.04.12

Seismic reflections: YPF nationalisation

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Energy & Resources

05.04.12

Seismic reflections: Heavy cash

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Energy & Resources

09.03.12

Seismic reflections: Budgeting for a North Sea revitalisation

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13.02.12

Macro Outlook – Diverging Brent and WTI price trends

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Energy & Resources

10.02.12

Seismic reflections: Italian drilling ban about turn?

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Energy & Resources

27.01.12

Seismic reflections: Gas to liquids could gain traction

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Investment Companies

13.01.12

Investment Trusts Quarterly: Growth and income

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Energy & Resources

13.01.12

Seismic reflections: Funding troubles, M&A bubbles

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Metals & Mining

16.12.11

Macro Outlook – Price weakness on the cards

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Energy & Resources

28.10.11

Seismic reflections: Singing those 100% equity blues

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26.10.11

Macro Outlook: Market backdrop still bearish

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Metals & Mining

07.10.11

Indium and gallium overview

thematic

Energy & Resources

30.09.11

Seismic reflections: Enormous North American potential

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Industrials

20.09.11

DSEi: Feedback and thoughts

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Energy & Resources

16.09.11

Seismic reflections : Tullow’s breakthrough discovery

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11.08.11

Macro Outlook – Rapidly weakening market backdrop

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Energy & Resources

05.08.11

Seismic reflections: Confidence in Kurdistan grows

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Energy & Resources

24.06.11

Seismic reflections: An exciting investment story

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Energy & Resources

22.06.11

Still bearish

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Metals & Mining

13.06.11

Switzerland: Global Resources Investing Conference

thematic

Energy & Resources

23.05.11

Seismic reflections : Commodity prices only a side issue

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Energy & Resources

18.04.11

Crude market potentially vulnerable

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Energy & Resources

01.04.11

Seismic reflections : Taxing matters

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Energy & Resources

11.03.11

Seismic reflections – Introducing the oil screen

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Energy & Resources

25.02.11

Supply fears exaggerated

thematic

TMT

24.09.10

The third pillar

thematic

TMT

10.09.10

The real disruptor

thematic

TMT

27.08.10

Merger mania is back

thematic

Energy & Resources

16.08.10

The spectre of weakening prices