Jpmorgan Russian Securit... Share Discussion Threads

[markus1970] 11/3/2022 10:56

What happens when the buying stops? How low will City of London go to get rid of JRS (if they intend to get rid of their total holding). They have just under 8m shares left as of the last RNS. WHat chance of shifting that lot, and to whom?

[loganair] 11/3/2022 10:28

As an Investment Trust on the whole JRS in not a heavily traded stock and it seems to me what is also putting JRS share price under pressure is City of London Investment reducing from 25.92% to 23.85% then to 21.26%, selling a total of 2.1mln shares and for ESG reasons will most probably be reducing further over the next couple of weeks.

City of London have reduced further to 19.76%, meaning they have now sold 6.16% or 2.8mln shares in JRS.

It is looking like every day City of London are selling circa 400k shares in JRS, which means circa 90% of all daily sells in JRS are City of London.

[soleman1] 11/3/2022 09:43

I agree, it looks like they are offloading and with Putin even more stubborn than I believed possible it seems likely this will trade sub 100p again. Nice opportunity though if it happens.

[markus1970] 11/3/2022 09:36

Loganair re post 1070 I think you should stop getting bogged down in the little details like Russia and China getting together to make an unstoppable alliance, and concentrate on the more important things like the upcoming elections in the USA and other countries. Okay there may be countries forcing large companies and institutions to sell Russian assets at rock bottom prices and thus incur huge losses, but that is a small price to pay if it increases the chances of those countries governments being re-elected.

Forcing pension funds to sell Russian stocks at a fraction of their buying price is a small price to pay to teach those rascally Russians a firm lesson. While the average man in the street may not understand how selling Russian based company shares at a fraction of their worth is not a severe detriment to Russian oligarchs who will buy them up cheap, our elected government is obviously working on a more elevated intellectual plane.

Note: there is no prize for spotting sarcasm in this post.

It looks like City of London may be accelerating their sales of JRS shares so maybe worth holding off on any purchases in the near term?

[loganair] 11/3/2022 09:33

Templeton are currently valuing their Russian stocks as having no value - "In accordance with established Fair Value policies and procedures each of these securities is currently valued at zero for the purposes of calculating the Company's Net Asset Value."

[quepassa] 11/3/2022 09:21

It is interesting to read the RNS issued by Templeton Emerging Markets Investment Trust dated 9th. March at 15.01hrs.



ALL IMO. DYOR.
QP

[loganair] 11/3/2022 08:34

Hearing last night reports that New York may delist some Chinese companies.

What I see happening is all Chinese and Russian companies delisting themselves from both New York and London then all the Russian companies relisting in Hong Kong.

For the past 15 years London and New York and other Western exchanges have been slogging it out to get these Russian and Chinese companies to list on their respective exchanges now they can't wait to get rid of them.

It seems to me it will be a great loss for London to lose such huge companies as Gazprom, Lukoil, Sberbank etc and Hong Kong's gain.

[soleman1] 11/3/2022 07:49

Read the article before making statements

[topazfrenzy] 10/3/2022 23:03

Mattjos, spot on

they want the south and control over the Black Sea and they won't leave that area once in

[topazfrenzy] 10/3/2022 22:59

40p if you're lucky

[mattjos] 10/3/2022 22:13

Surely Kiev is a ruse at this time? It can garner the headlines and will maybe take much longer to conquer but, it's the Black Sea coastline that is strategically far more important as it is, effectively, the commodity Gateway in/out of Ukraine.
That arc from Kharkiv all the way around to Odessa is the more strategically important part + South of Dnipro to ensure the fresh water supply to Crimea.

Keep the process ongoing around Kiev and that's where the media will inevitably focus but, it's my belief that the south is the real prize

[soleman1] 10/3/2022 22:05

Saying and doing are two different things, JP have been criticised recently for recommending Russian corporate debt to customers. I despise this war and tbh the pictures are heartbreaking but I don't personally see buying cheap Russian assets as funding the war, I see it as taking a piece of wealth away from Putin and giving it to the ritceous, me!

[loganair] 10/3/2022 21:59

D21 - Russia can fly their planes to the Middle East and many countries in Asia and Turkey from where many can catch an onward flight into Europe.

It is looking more and more that on the Northern Kiev front the Russian army is completely bogged down and easily being held by the Ukrainians.

And during the cold war the West was saying that if the Russian go over the top at best the West would be able to hold them for 72 hours before the Russians reach the northern French ports...

[loganair] 10/3/2022 21:12

Lisbon announced on Thursday that London’s sanctions on Roman Abramovich, who has Portuguese citizenship, do not apply in Europe, since the UK has left the European Union.

The Russian-born businessman was granted Portuguese citizenship in April 2021 based on a law offering naturalization to descendants of Sephardic Jews who were expelled from the Iberian Peninsula during the medieval Inquisition.

[topvest] 10/3/2022 21:11

Thanks QuePassa - interesting.

Well I guess this trusts days are numbered anyway and will likely go into run-off as and when (or if) liquidity returns. I am surprised the trust ddn't get negative publicity around the continuation vote that was passed. However, they can't liquidate now without just handing all their stakes over for virtually nothing and that doesn't harm the enemy! So, my reading is that the future will be reviewed again at some point soon depending on events.

[quepassa] 10/3/2022 20:54

Just breaking.

JP Morgan to follow Goldman in pulling back from Russia .


hXXps://www.fnlondon.com/articles/jpmorgan-follows-goldman-sachs-by-winding-down-russian-business-20220310


ALL IMO. DYOR.
QP

[topvest] 10/3/2022 20:01

It looks like City of London are selling though.

[smithie6] 10/3/2022 19:51

Btw
Sizeable share buy at over the mkt price at the close of play today.
A good sign imo.

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If the west wants to try to show that it has better values than exist in Russia then surely it needs to be careful to allow rich Russians to move from Russia to London if they prefer to live & enjoy western values.
Was/is Ab. part of Putin's dictatorship or perhaps part of the London setup if he had chosen to move to London.

The yanks put Jap ancestry citizens in camps during WW2, even though many/most/all were loyal to the USA cause.
Abramovich, is he a fervant supporter of Putin or is he now a westerner & supports western values (been in London for is it 2 decades?) ? I don't know. I've seen him in the media over so many years I thought/assumed he was a UK/London supporter.

[topvest] 10/3/2022 19:10

Interesting debate. Looking at the Chelsea accounts at Companies House and their topco, Fordstam Limited, Abramovitch had lent the club £1,129m at 30 June 2021. Chelsea has clocked up £882m of losses by 2021!

Thinking through the ramifications of all of this. It is not going to be long before the Chinese and other big investors bale out of the UK property market. London is heading back to the 1980s. You never know, UK domiciled people may be able to afford property in London again sometime soon. Anyway, London property crash coming in my view if safe heaven status is reversed!

[essentialinvestor] 10/3/2022 18:56

Speaking of getting poorer logan - MCLS, dear oh dear, you don't half know how
to pick them. As for your posting here, I would not grace it with a comment.
Keep it classy.

[smithie6] 10/3/2022 18:15

"I feel uncomfortable about the way we are treating Ambramovic, who has owned Chelsea for 20 years, ploughed huge amounts of money into the team, has created many jobs and behaved like a model owner in most ways"

I think I agree with that.

He has I think lent £1000-2000 million to Chelsea. Which has paid for expensive players & managers & hence produced the trophies for Chelsea.

From the little I know Ab. has given to Chelsea, not been taking out.

But, yes, it is a complicated subject.

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Prohibiting Chelsea from new sales of entrance tickets, that is nuts imo.

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Putin has a big yacht somewhere.
That should be seized.