Articles List

Articles List

Gas Supply To Remain Stable

Despite Noble's decision to downgrade its targets for Israeli gas sales due to the ongoing conflict in Gaza, we do not anticipate a prolonged threat to gas supplies.

'Second-Tier' EMs Primed For Gas Power Growth

Ongoing consolidation in the power turbine manufacturing industry will leave the companies that emerge better placed to capitalise on growth in gas-fired capacity in middle- to low-income power markets.

ZANU-PF Succession Battle Entering Volatile Waters

There continues to be little clarity on who will succeed President Robert Mugabe as leader of the Zimbabwe's ruling ZANU-PF party. Party elections in December 2014, where several senior positions will be up for grabs, will shed only limited light on the succession question as party hierarchy will be only one of many variables that will determine who takes the helm. The recent entry of Mugabe's wife into frontline politics introduces a new dimension to the battle.

Independents Crucial For Gas Growth

Production boosts from smaller independents in Ukraine will help the country mitigate the lack of supply coming from Russia over the second half 2014.

Shale Round Boosts Prospects For Exploration

The country's first shale licensing round raises prospects for increased unconventional exploration in the UK, the speed of which has been sluggish to date. We maintain however that regulatory and social hurdles could hamstring the process, despite the new round.

Currency Woes To Limit Scope For Further Rate Cuts

An economy yet to hit its straps and contained inflationary pressures will see monetary policy remain broadly accommodative over the coming quarters. That said, we believe that risks posed by a depreciating currency will preclude an aggressive course of monetary loosening.

More Dairy Consolidation To Come In Africa

Dairy companies will continue to pursue acquisitions in Africa, where we see strong dairy consumption growth potential, mainly because of base effects. On the back of this, Danone has ramped up investment on the continent, with the acquisition of 40% of Kenyan dairy company Brookside and of a 49% stake in Ghanaian Fan Milk International. This will also help Danone diversify from its largest markets, France and Russia, where the consumer environment has deteriorated recently.

Asia Sector Strategy: Opportunities In Mining, Infrastructure, Telco & Shale Gas

This week in our Asia Sector Strategy, we have revisited our views on the likelihood of Australian iron ore majors outperforming the Bloomberg iron ore mining index, as well as our view on global uranium miners. However, we are also focusing on new ideas, including Indonesian telecoms and infrastructure, as well as opportunities in Chinese shale gas

Islamic Banking: New Markets To Emerge

Islamic Finance is set for continued growth as several countries vie to become global centres, although expansion rates have peaked. At present, we expect Malaysia to remain the global leader in Islamic banking, although there will be concerted competition from Dubai. In addition, there is huge growth potential in India, Nigeria and Thailand.

Prescription Drug Expenditure Declines

Despite calls made by companies for the implementation of a system that adequately rewards innovation and supports investment in future medicines, we believe that Mariano Rajoy's centre-right administration is likely to remain committed to fiscal consolidation and will continue to target the healthcare sector and prescription drug expenditure in particular - a large recipient of government funds.