Register Log-in Investor Type

News

QuotedData’s morning briefing 11 May 2022

JPMorgan Russian Securities JRS - Expert access to attractively valued market

In QuotedData’s morning briefing 11 May 2022:

  • BlackRock Greater Europe (BRGE) has posted its interim results for the six months to 28 February 2022. During this time, the trust’s NAV was down 20% while its share price was down 21.8%. This compares with a 7.8% fall from its benchmark. Exposure to Russian holdings at 28 February 2022 was 5.7% as at 31 January 2022, and these were written down to zero after 28 February 2022 when the secondary listings of the ADRs/GDRs of Russian holdings were suspended. The company will not make any further purchases in Russian stocks for the foreseeable future. The chair said: ‘Market volatility will likely remain elevated. In light of Russia’s continuing war against Ukraine, a package of economic and individual sanctions have been imposed against Russia. A significant escalation of these sanctions has increased the cost to Russia and the rest of the world, and this could prevail for some time. The emergence of the new COVID-19 variant at the end of last year has also led to a stop-start recovery and affected global supply chains. Additionally, there is little doubt that we have now entered a more inflationary period and the impacts of the conflict are likely to increase fears of recession.’
  • Civitas Social Housing (CSH) reported its NAV had nudged up 1.4% to 110.3p per share over the quarter to 31 March 2021. The group acquired 47 properties in the quarter for £8.1m to deliver asylum accommodation. It declared a dividend for the quarter of 1.3875p, in line with its full year target of 5.55p. It has announced a new dividend target for the year ending March 2023 of 5.7p (a 2.7% increase).

We also have news of a merger between LXI REIT and Secure Income REIT, an acquisition and proposed issued from Bluefield Solar Income, and a quarterly NAV update from NextEnergy Solar.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.

You live in…

You are a…