Share Name Share Symbol Market Type Share ISIN Share Description
JP Morgan Russian Securities LSE:JRS London Ordinary Share GB0032164732 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00p -0.21% 476.00p 472.00p 480.00p 480.00p 472.00p 472.00p 23,966 16:35:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 14.4 24.0 19.9 246.55

JP Morgan Russian Securities Share Discussion Threads

Showing 2251 to 2267 of 2275 messages
Chat Pages: 91  90  89  88  87  86  85  84  83  82  81  80  Older
DateSubjectAuthorDiscuss
19/4/2018
11:18
The cheapest bet on rising oil prices by John Stepek: Who’ll be a winner if oil prices remain high? So let’s assume that oil continues its winning streak. What might that mean? Higher oil prices are increasingly priced into most of the relevant markets, I feel – energy stocks aren’t expensive by any means, but they aren’t as cheap as they were. But if you are interested in investing in Russia, then it’s probably the cheapest oil-dependent play around right now (indeed, unless you can find a small-cap firm that has fallen on hard times and is just around the corner from a massive oil strike, Russia is almost certainly the cheapest play on oil right now). I’m still not keen to invest there, but you could argue that I’m going against my own logic of investing when markets are cheap (and you would almost certainly be right). So if you’re looking for a cheap play on oil (even at prices that are lower than today’s), then Russia’s probably the best bet.
loganair
17/4/2018
11:26
Baring Emerging Europe manager Matthias Siller is standing by his 64% allocation to Russian equities, following a challenging week for the country’s stock market. Siller believes the investment rationale for holding Russian companies remains intact - even if the country’s economic recovery is likely to be subdued by tough sanctions were introduced by the US this month. When you throw in rising tensions between Russia and the UK following the poisoning of a former Russian spy and his daughter in Salisbury, as well as Russia and the US locking horns over Syria, it’s easy to see why investors such as our columnist Ian Cowie have been spooked. ‘From our perspective, we distinguish between political implications and the economic situation on the ground in Russia. If you look at the political implications, of course we hope this does not become a “hot war” in Syria, but we do believe it is prudent to apply an elevated risk premium to Russia,’ Siller explained. While the sanctions and growing geopolitical tensions represent bad news, Siller says the prospects for Russia should not be written off altogether. This is because a number of positive dynamics are at work in the Russian market and Siller (pictured) believes these have been under-appreciated by investors. Firstly, he points to improving corporate governance standards across both private and state-owned enterprises. This is demonstrated by the growing dividend payout ratio in Russia. While Russian businesses had previously lagged other emerging markets in terms of distributing income to shareholders, Siller says this has changed over the past four to five years. On average Russian companies distribute more than a third of their net income as dividends. Looking ahead, he expects higher earnings growth will translate into dividend growth. ‘Russia is setting standards for emerging market companies rather than lagging them. So far, this has not been fully appreciated by the market and continues to surprise investors positively,’ the fund manager said. Two sides to the story: Although the Russian market sold off sharply after the sanctions were announced, Siller described it as an ‘orderly retreat’. ‘In other words it was not a widespread panic. The market has distinguished correctly between exporters and domestically-oriented companies,’ Siller added. This has led to a bifurcation in the market. On the one hand, companies that are sensitive to the domestic economy have seen their share prices come under pressure as a result of a weaker rouble. However, it has been a different story for exporters, which stand to benefit from currency weakness. Siller says oil exporters, in particular, can benefit from two factors: a weakening currency which ultimately lowers their costs, and a higher oil price which boosts their margins. On the positive side, Siller notes that higher market volatility – which he expects will continue – is going to present stockpickers with investment opportunities over time. Sberbank represents the trust’s largest position, followed by energy company Lukoil and gas producer Novatek.
loganair
17/4/2018
11:20
Despite the turmoil of the past week, Chetan Sehgal manager of Templeton Emerging Markets investment trust, remains positive on Russia whose resources-dominated economy has been boosted by the recovery in the oil price. In contrast to the country’s politics, Russian corporate governance had also improved, he said, with more companies increasing dividend payouts to investors. Sehgal was confident that while a short-term increase in volatility would affect the Russian market the long-term fundamentals remained intact.
loganair
15/4/2018
15:34
The discount to NAV has narrowed considerably. I will wait for it to widen before buying more.
andyj
14/4/2018
09:20
The latest round of US penalties targeting Russian businesses paradoxically helps the country's budget instead of harming it, said the deputy chairman of the Central Bank of Russia (CBR). He pointed to the rebounding Russian currency which weakened initially after the announcement of penalties. “This trend for strengthening will continue, mainly because Russia currently has a balance of payments surplus,” Korischenko said, explaining that “this is largely due to rising oil prices.” He expressed confidence that the sanctions, along with the growing oil price and the rebounding ruble, would strengthen the Russian budget. “We haven’t seen such a price for oil even before the crisis of 2014… Speaking ironically, the Americans only help the Russian budget with their sanctions.” According to the official, speculation about possible sanctions against Russian sovereign debt has calmed down after US Treasury Secretary Steven Mnuchin voiced his opposition. Mnuchin said it could have a destabilizing effect on global markets. “All this means that the increased profitability, which has now been formed by the Russian sovereign debt, will attract the most aggressive investors. And this will also entail the inflow of capital and the strengthening of the ruble.” The possibility of the Russian Central Bank’s interventions is very low as the regulator adheres to its position of floating exchange rates, Korischenko said. “So far there is no reason to believe that it will renounce it.” Korischenko also stressed the importance for all the Russian companies to revise their business models as any of them could one day be in the same perilous position as RUSAL. The Russian aluminum giant bore the biggest brunt of the latest US penalties. RUSAL's stock dropped 50 percent after trading of the company's shares was suspended on major international exchanges in line with Washington's sanctions. “Therefore, generally speaking, the Russian state and economy should gradually rebuild their model, diversifying towards other partners who are not inclined to such harsh actions,” he said.
loganair
13/4/2018
17:36
Russia rout by Daniel Grote: Investment trusts with exposure to Russia dominate the list of fallers this week, after the US slapped sanctions on seven oligarchs and the companies they run. The Russian stock market is down 13.1% in pound terms this week, and shares in the only Russian equities-focused investment trusts, JPMorgan Russian (JRS), haven’t fared much better, falling nearly 10%. Only one of its 33 holdings is directly affected by the sanctions, the trust said in a statement this morning. Rusal, controlled by Oleg Deripaska, the billionaire aluminium magnate among the seven targeted by the sanctions, made up approximately 1% of the portfolio at the end of February. Its shares have lost more than half their value over the last week. But the impact of the US move was felt much more widely across all Russian assets. Shares in state-owned bank Sberbank, the trust’s largest holding, are down 18% over the last week. The whole situation has left Russia looking very cheap on a global basis. It is also fair to say that markets only ever get this cheap when the risks involved are high, so if you have an appetite for this sort of thing, now may be your chance.
loganair
13/4/2018
12:18
Very interesting post loganair. I agree it’s ridiculous. Every project takes years longer than in other Countries and often because it is always met with objections. Those so convinced that the U.K. is superior to other Countries should experience their often brilliant public services and transport systems, lack of litter etc etc. Bought a few JRS on the dip. Main holdings down a bit today. In the past buying after drops caused by political events has worked once it all fades from the headlines. Decent JRS dividend too.
kenmitch
13/4/2018
10:42
When the motorway was being built between Moscow and St Petersburg the direct line route took it straight through a National Park. There was such a Ho Ha! from the locals that it was built around the Park thereby adding several Km's to the motorways length. For the locals in -20C it is better for them to have trams or Underground Metro rather then having to walk. Overall City and State projects tend to be very good, like in many places it is the Private projects that have very little care when it comes to the local population. QP - It is ridiculous, it's been 40 years and the British are still talking about airports and runways around London. HS2 over 20 years. All this means is that the cost to build has gone up and up. HS2 was initially going to cost around £15bln, now they say £50bln. Russia's proposed high speed train from Moscow to Kazan which is double the length of HS2 is expected to cost around $12bln (£9bln) and that is including all the rolling stock being built by the Germans in Germany.
loganair
13/4/2018
09:23
Another difference between St Petersburg and cities in the UK, from nothing 200yds of tram tracks, poles etc put in, in just 48 hours, and a tram was running along it. In the past 10 years all 3 Moscow airports have been completely modernized and a 4th airport built whereas after 40 years London still can not agree where to build another runway let alone a new airport.
loganair
13/4/2018
09:03
I have only visited St Petersburg twice but I agree that it is one of the best cities in the World.
kenny
13/4/2018
08:48
QP - Agreed, why the Russian market is trading on a ridiculously cheap p/e of just 6. It seems to me JRS dropping to 450p is a bargain. Russia are one of the few countries that are running a balanced budget or at the current oil price a budget surplus and luckily for them have the best central banker in the OECD countries. Living in St Petersburg I have seen how Russia's second city is unrecognizable to what was like in the 1980's when buildings were still showing bullet holes from WW2. Even as late as 2008 tap water would run a rusty earthy brown, where as even today London water is disgusting to drink straight from the tap, and now St Petersburg is a vibrant modern city.
loganair
12/4/2018
11:07
At least not holding Rusal bonds, panic there.
montyhedge
12/4/2018
11:04
I've read the FT article on Russia and Sberbank and to me is didn't read that negatively.
loganair
12/4/2018
10:04
Toys - Profit just about paid for the interests on its debt. Stores no longer exciting for children to visit. When my son was younger he much preferred his local Early Learning Centre than our toys R Us. Brazil - Also a slump in commodity prices. Labour/Communist leader wasting the countries money on the poor who voted for him, instead of investing in the future and on infrastructure. Massively corrupt, same reason why Nigeria with so much potential hasn't got any where. China now has more high speed rail than the rest of the world put together. Investing in the Silk road and Maritime road. Russia - Has the best and most independent Central Bank Governor who I would like to see as the next President of Russia. Also it is the only country in the world that has all 10 of the strategic metals. If the US doesn't want what Russia produces they just sell to China. China, Russia and Iran with on the periphery Syria, Turkey and Vietnam make a very powerful up and coming trading block.
loganair
12/4/2018
09:42
QP - Brazil's slump was completely different to what happened at Toys R Us and Carillion.
loganair
12/4/2018
09:35
QP - Agreed.
loganair
12/4/2018
09:29
Often when the sentiment is at its lowest is the time to buy. When there is blood in the streets and others are panicking, it is time to keep your head and buy cheap assets that these other people are giving away to you.
loganair
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