E Global M&A Deals For Yurts, Mines, Warehouses, Lubrifiant, Pharma, And E-Commerce Sites

Sometimes globalization is the answer. Despite some foot-in-mouth history, Larry Summers, ex-President of Harvard and former US Treasury Secretary, writing in the Financial Times, rightly argues that better foreign policy by Congress can help save Ukraine. He points out how a bipartisan response to the occupation of Crimea can be aided if Republicans Congress want to do something besides attacking alleged Obama weakness.

Prof Summers backs measures like restoring funding for the International Monetary Fund now bottled up in committee. He also suggests allowing exports of US surplus natural gas to lower Western European (and Ukrainian) dependence on Russian Gazprom gas exports. He also backs a modest and results-driven funding program for Kiev based on cleaning up Ukraine's oligarchy-linked political system and providing a safety net for the poor.

Summers is famously linked to hands-off support for market solutions. This was his line when he was a top level advisor under the Clinton Administration. But he seems to have changed his tune to a more interventionist direction while also remaining a stalwart supporter of the existing global financial system.

Foxtons, a UK real estate sale and letting brokerage (and financier) is listing on the ADR market. It is also challenging the New York realtors' commission schedule by offering cut-rate services here. The stock has recently been downrated in its home market.

Usually Monday news is dominated by changes in how our stocks are rated. But not today. Today's news is dominated by mergers and acquisitions. There will be further technical upgrades to our website overnight Monday. Visit www.global-investing.com often but early.

More follows from Italy, Singapore, Britain, Hong Kong, Brazil, Australia, Suriname, Guyana, Canada, Israel, India, and among the yurts of Inner and Outer Mongolia and the Crimean Tartars along with troubles in China affecting distant lands.

*News that China's Feb. exports fell 18% from Feb. 2013 hit Vale (half sold) hard. The Brazilian miner exports its iron ore to China, and Goldman Sachs now predicts that the stuff will command less than $100 per metric tonne in Q2 this year. Today ore pellets were priced at $104.75 over 8% below Friday's close and down 22% YTD.

*Our Guangshen Railway, GSH, which runs along the export-oriented Pearl River basin (to what used to be called Canton, now Guangshou) is down 3.28% so far today, a victim of the numbers.

*Also hurt by the China worry was the Australian $, which we play through Aberdeen Asia Pacific Income Fund, FAX. The Aussie fell to 90.17 US$. Now I don't want to be a Pollyanna, but the China sell-off over exports lagging has been overdone. In fact shifting the economy to meeting domestic demand and cleaning up China's unbreatheable air also require steel inputs, preferably using higher grade ore and metallurgical coal than the polluting stuff locals mine. Steel-making ingredients are going to come back into vogue and their prices will rise.

FAX reports earnings today along with Aberdeen Global Income Fund, FCO, after the market closes according to Closed-End Fund Advisors of Richmond VA, www.CEFAdvisors.com 1-800-356-3508. It is moving into a gap in close-end fund reporting now that Tom Herzfeld has pulled out of this business.

*I also got in barely ahead of the mob with a buy of Raven Rus (RUS:GM) at 78 UK pence put in for the London opening after I wrote this up as a best buy for Russia in a write-up yesterday.

I argued that it was easier to nab this London Alternative Investment Market stock than competing with Bank of NY-Merrill and UBS in trying to buy Yandex on the cheap, as I suggested last week. (Barrons' Shuli Ren wrote in today's issue, which I get on Sat., that both were recommending YNDX.)

This morning RUS, a Guernsey company investing in Russian commercial logistics was tipped by the Investor's Chronicle's stock guru Simon Thompson it today's IC blog because it sold part of its portfolio and will distribute some of that cash to its shareholders. The cash it holds means it is trading at a 50% discount to its book value, which he calls "anomalous."

1 2 3 4
View single page >> |


How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.