MWG: Stellar January 2017 results; intends to raise capital and issue bonus shares. MWG released impressive January 2017 results with revenue +94% and NPAT +75% vs January 2016, which solidifies our optimistic view on the stock. These results were mainly driven by the aggressive roll-out of the mini-DienmayXANH format, solid SSSG and contributions from stores opened in 2016.
After extending an 8% rally so far this year to a nine-year high on Tuesday, the VN-Index has traded sideways for the last two days, closing down today less than a tenth of a percent. Two stocks in our coverage universe, CII (+6.1%) and GTN (+6.8%), jumped today amid a lack of fundamental news. CII hit a fresh record high and has soared 24% over the last two weeks while GTN reached a six-month high after surging 18% so far this week.
The VN-Index closed up a tenth of a percent on Wednesday as the market paused after hitting a nine-year high yesterday. Energy names GAS (+3.9%) and PVD (+1.3%) jumped as a rally in Brent crude oil prices extended for a fourth day in Asian trading today. CII (+6.9%) soared to a fresh record high and is up 28% year to date after announcing its third and final cash dividend payment with an ex-rights date on March 1. The company also said last week that it plans an attractive dividend
The VN-Index jumped on Tuesday to its highest level since February 2008 as real estate names extended a week-long winning streak amid strong combined trading value in HCMC and Hanoi of just below USD200 million. The real estate sector followed yesterday's 2.9% surge with a 2.2% gain today. The two largest listed developers by market capitalization, VIC (+2.5%) and NVL (+4.6%), both reached record highs and have soared 9.2% and 11.4%, respectively, over the last week.
GAS: agrees to gas field stake for first time. Last Friday, GAS and PetroVietnam Exploration and Production Corporation (PVEP) signed a principle agreement for cooperation in developing White lion – phase 2 gas field project, Block 15-1, Cuu Long basin. The current shareholders of White Lion include: PetroVietnam and PVEP - 50% stake, ConocoPhillips - 23.25%, KNOC - 14.25%, SK Corporation - 9% and Geopetrol Vietnam - 3.5%.
HPG: Management targets conservative FY17 profit guidance, FY16 50% stock dividends and 20% rights issuance to be approved at AGM. HPG announced a BOD resolution with the main points as follows: 1) FY17 guidance: Targeted revenue is VND38 trillion (USD1.7 billion, +14% vs FY16 actual) and NPAT of VND5 trillion (USD223.2 million, -24% vs FY16 actual). We note that HPG has a track record of setting very conservative profit targets.
The VN-Index dropped for the first time this week after a sharp sell-off in the last 90 minutes of trading left the market down a third of a percent at the close. The index was up 0.8% after reaching a fresh nine-year high at 717 before investors began taking profits, especially in financials. CII (+4.8%) jumped to a 10-year high after management yesterday announced it expects 2017 consolidated NPAT-MI to surge 67% vs 2016, 35% more than the previous 2017 target announced in October 2016.
Gains in local stocks continued their torrid pace so far this year on Wednesday as the VN-Index participated in the global equity rally. Shares added three fourths of a percent in above average trading volume to the index's highest closing level since February 2008. The financial sector (+1.6%) led the way higher after hawkish comments by US Fed Chair Janet Yellen bolstered expectations of a rising global interest rate environment. CTG (+3.5%) jumped to an 15-month high and has surged 27% yea
The VN-Index closed flat on Tuesday, advancing less than a tenth of a percent. Combined trading value in HCMC and Hanoi continued its recent strong showing, rising to USD166 million, 31% above the average for the last year. FPT (+3.6%) jumped to a four-month high amid heavy trading volume after the company said yesterday it expects 13% PBT growth in FY17.
The VN-Index traded in positive territory almost the entire session on Monday, closing up about a third of a percent to a fresh nine-year high. The index has advanced 6.2% so far this year. Oil service providers PVD (+6.6%) and PVS (+5.4%) surged on market speculation that the USD10 billion Block B project will be restarted soon.