![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Merrill L.N.EN. | LSE:MNE | London | Ordinary Share | GB0009737932 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 71.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:3051U Merrill Lynch New Energy Tech. PLC 15 January 2004 MERRILL LYNCH NEW ENERGY TECHNOLOGY plc All information is at 31 December 2003 and unaudited Performance at month end with net income reinvested One Three Six One Since Month Months Months Year Launch* Net asset value 2.7% 2.9% 27.5% 28.6% -73.7% Share price 0.0% 1.2% 35.9% 38.1% -78.3% *23 October 2000 Source: Merrill Lynch Investment Managers At month end Net asset value: 25.15p Share price: 21.75p Discount to NAV: 13.5% Net yield: N/A Total assets: #51.0m Gearing: 1.7% Ordinary shares in issue: 198,950,000 Sector % Total Country % Total Analysis Assets Analysis Assets Auto & On-Site Generation 39.6 USA 49.4 Renewable Energy 25.1 Canada 27.8 Enabling Energy Technology 24.9 Denmark 6.4 Energy Storage 10.8 Spain 6.0 Current liabilities (0.4) Germany 4.7 United Kingdom 3.3 Australia 2.8 Current liabilities (0.4) ----- ----- 100.0 100.0 ===== ===== Ten Largest Equity Investments Company % of Investments Country of Risk American Superconductor 8.2 USA Gamesa 6.0 Spain Hydrogenics 5.9 Canada Active Power 5.4 USA Fuelcell Energy 5.1 USA Intermagnetics 5.0 USA Ballard Power 5.0 Canada Xantrex Technologies 4.8 Canada Vestas Wind 4.6 Denmark Plug Power 4.3 USA ---- Total 54.3 ==== Robin Batchelor and Poppy Buxton, representing the Investment Manager, noted: Performance Review During the month under review, the Trust continued to benefit from positive momentum in the sector. The NAV increased by 2.7% to 25.15p, while the share price remained flat at 21.75p. On the corporate newsfront, Vestas Wind Systems, the world's biggest windmill maker, agreed to buy NEG Micon for $405m in an all share deal that would create the biggest company in the industry, with over 30% global market share. The news is a positive for both companies, who have had to trim sales forecasts recently given delays in orders or cuts in government subsidies. This should help the new entity to cut costs and report better margins going forward. Furthermore, it will allow the group to deliver on economies of scale and protect its market share in the face of increased competition from new entrants like General Electric. On the day of the announcement, Vestas's shares gained strongly on the news but retreated later to close up 3%. NEG Micon's shares climbed as much as 37% to finish the day at 92.5 kroner. Both companies are core holdings of the Trust and have contributed positively towards December's performance. In the automotive and on-site generation sector, Westport Innovations and Cummins announced the extension of their 50:50 joint venture agreement, known as CWI, to develop markets for alternative fuel engines. The news will allow CWI to capitalise on the rapidly growing markets for natural gas engines in China and India. Westport shares rose 12% on the day of the announcement. In other news, following the successful rollout of Ballard's fuel cell powered buses in Reykjavik, the company delivered three models to the public transport authorities in London. The first of these three buses began public service in London's West-End on 14 January. In addition, Ballard secured another contract for the delivery of three fuel cell buses to Perth, Australia. Finally, Fuelcell Energy reported 4th quarter results in line with consensus estimates. Whilst revenues and backlog were slightly below expectation, a reduction in production and R&D costs versus Q4 2002 contributed to lower losses. Cash burn remained in line with budget, leaving sufficient to fund operations over the next few years. Portfolio Activity During the month of December, there was no significant portfolio activity. Outlook We continue to see evidence that the "catch-up" infrastructure investment required following the recent electricity blackouts has begun, to the benefit of our superconducting and stationary fuel cell holdings. Meanwhile, government policy continues to be incrementally positive (e.g. in the UK) although the timing and scope is very difficult to predict (as we have seen in the US). Nevertheless, government regulation should continue to be a positive driver of share price valuations going forward and may well accelerate the progression of the industry. Latest information is available by typing www.mlim.co.uk/its on the internet, "MNE.L" on Reuters, "MNE LN" on Bloomberg or "8800" on Topic 3 (ICV terminal). 15 January 2004 This information is provided by RNS The company news service from the London Stock Exchange END MSCILFLTLRIELIS
1 Year Merrill Lynch New Energy Tech Chart |
1 Month Merrill Lynch New Energy Tech Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions