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Share Name Share Symbol Market Type Share ISIN Share Description
Blackrock Com LSE:BRCI London Ordinary Share GB00B0N8MF98 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 70.60 69.80 71.40 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 6.4 5.7 4.4 16.2 82

BlackRock Energy and Resources Income Trust Plc Portfolio Update

22/07/2021 4:15pm

UK Regulatory (RNS & others)


 
TIDMBERI 
 
BLACKROCK ENERGY AND RESOURCES INCOME TRUST plc (LEI:54930040ALEAVPMMDC31) 
 
All information is at 30 June 2021 and unaudited. 
 
Performance at month end with net income reinvested 
 
                                       One      Three           Six       One         Three        Five 
 
                                     Month     Months        Months      Year         Years       Years 
 
Net asset value                       1.7%       9.4%         20.9%     54.5%         35.3%       84.4% 
 
Share price                          -9.4%       1.9%         19.7%     73.1%         29.9%       86.2% 
 
Sources: Datastream, BlackRock 
 
At month end 
 
Net asset value - capital only:                                                               100.99p 
 
Net asset value cum income1:                                                                  101.45p 
 
Share price:                                                                                   91.90p 
 
Discount to NAV (cum income):                                                                    9.4% 
 
Net yield:                                                                                       4.4% 
 
Gearing - cum income:                                                                            6.2% 
 
Total assets:                                                                                 £118.0m 
 
Ordinary shares in issue2:                                                                116,270,349 
 
Gearing range (as a % of net assets):                                                           0-20% 
 
Ongoing charges3:                                                                               1.25% 
 
1 Includes net revenue of 0.46p. 
2 Excluding 2,695,651 ordinary shares held in treasury. 
3 Calculated as a percentage of average net assets and using expenses, 
excluding any interest costs and excluding taxation for the year ended 30 
November 2020. The Company's Ongoing Charges for each financial year to 30 
November are capped at 1.25% of average daily net asset value for that 
period. 
 
Sector Overview 
 
Mining                                       46.2% 
 
Traditional Energy                           32.0% 
 
Energy Transition                            23.5% 
 
Net Current Liabilities                      -1.7% 
 
                                             ----- 
 
                                            100.0% 
 
                                             ===== 
 
Sector Analysis                     % Total Assets     Country Analysis                       % Total 
                                                 ^                                            Assets^ 
 
Mining: 
 
Diversified                                   26.2     Global                                    54.9 
 
Copper                                         4.7     USA                                       16.3 
 
Industrial Minerals                            4.5     Canada                                    12.0 
 
Gold                                           3.8     Latin America                             10.8 
 
Steel                                          2.6     Australia                                  2.2 
 
Diamonds                                       1.3     Germany                                    1.9 
 
Iron                                           1.3     South Africa                               1.9 
 
Platinum                                       1.2     France                                     0.8 
 
Nickel                                         0.6     Ireland                                    0.7 
 
Subtotal Mining:                              46.2     Africa                                     0.2 
 
                                                       Net Current Liabilities^                  -1.7 
 
Traditional Energy: 
 
E&P                                           14.4                                              ----- 
 
Integrated                                    12.2                                             100.00 
 
Refining & Marketing                           3.8                                              ===== 
 
Distribution                                   1.2 
 
Oil Services                                   0.4 
 
Subtotal Traditional Energy:                  32.0 
 
Energy Transition: 
 
Electrification                                8.3 
 
Energy Efficiency                              7.1 
 
Renewables                                     6.4 
 
Transport                                      0.9 
 
Storage                                        0.8 
 
Subtotal Energy Transition:                   23.5 
 
Net Current Liabilities^                      -1.7 
 
                                              ---- 
 
                                             100.0 
 
                                             ===== 
 
^ Total Assets for the purposes of these calculations exclude bank overdrafts, 
and the net current liabilities figure shown in the tables above therefore 
exclude bank overdrafts equivalent to 4.4% of the Company's net asset value. 
 
Ten Largest Investments 
 
Company                                            Region of Risk                      % Total Assets 
 
Vale                                                Latin America 
 
    Equity                                                                                        7.8 
 
    Bond                                                                                          3.0 
 
Rio Tinto                                                  Global                                 4.2 
 
BHP                                                        Global                                 4.0 
 
Chevron                                                    Global                                 3.9 
 
Glencore                                                   Global 
 
Equity                                                                                            3.9 
 
Option                                                                                           -0.1 
 
Anglo American                                             Global                                 3.5 
 
ConocoPhillips                                             Global                                 3.1 
 
Vestas Wind                                                Global                                 3.0 
 
Enel                                                       Global                                 3.0 
 
Canadian Natural Resources                               Canadian                                 2.5 
 
Commenting on the markets, Tom Holl and Mark Hume, representing the Investment 
Manager noted: 
 
The Company's Net Asset Value (NAV) per share increased by 1.7% during the 
month of June (in Sterling terms with dividends reinvested). 
 
The mining sector saw a pullback in June, underperforming broader equity 
markets, with the MSCI ACWI TR Index returning a modest +1.2%. Mined commodity 
performance was varied, with copper falling 8.8% and iron ore (62% fe) rising 
7.5% and reaching an all-time high during the month.  However, economic data 
from China remained resilient, with its manufacturing Purchase Manager Index 
(PMI) at 51.3, and robust demand in the US and Europe helped support prices. 
The period also saw a sell-off across precious metals, with gold falling 7.4%. 
Turning to the companies, following its share buyback program Brazilian miner 
Vale announced a special dividend in June, based on expected profits for the 
current year. 
 
Traditional energy stocks continued to rise modestly over the month, whilst oil 
prices increased as economic data continued to suggest global economic recovery 
and stronger activity levels. Despite concerns over the spread of the delta 
variant of COVID-19, vaccinations continued and allowed movement restrictions 
to be eased. Within the energy sector, underlying oil demand appeared robust 
with a further drawdown in barrels held in storage. Negotiations for an Iranian 
nuclear deal continued without breakthrough, whilst market expectations are for 
an agreed additional production increase from OPEC given the continuing 
strength in oil demand. Against this backdrop, Brent and WTI (West Texas 
Intermediate) increased by 10.9% and 11.1%, ending the month at $77/bbl and $75 
/bbl respectively, whilst natural gas prices increased 25%. 
 
Within the energy transition sector, the G7 countries committed to support 
development and deployment of renewable energy and to promote sustainable 
mobility and reduce greenhouse gas emissions from the transport sector. At a 
national level, the German government proposed an increase in renewables 
targets. Spain proposed a windfall tax on profits linked to higher carbon 
prices impacting nuclear and hydroelectric plants, whilst France increased 
taxation on solar power. 
 
22 July 2021 
 
ENDS 
 
Latest information is available by typing www.blackrock.com/uk/beri on the 
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV 
terminal).  Neither the contents of the Manager's website nor the contents of 
any website accessible from hyperlinks on the Manager's website (or any other 
website) is incorporated into, or forms part of, this announcement. 
 
 
 
 
END 
 
 

(END) Dow Jones Newswires

July 22, 2021 11:15 ET (15:15 GMT)

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