|Bid||51.12 x 24600|
|Ask||44.97 x 50900|
|Day's range||47.30 - 48.18|
|52-week range||40.93 - 55.18|
|Beta (5Y monthly)||1.06|
|PE ratio (TTM)||8.05|
|Earnings date||06 Feb 2020|
|Forward dividend & yield||1.75 (3.66%)|
|Ex-dividend date||21 May 2019|
|1y target est||N/A|
(Bloomberg Opinion) -- The long-threatened U.S. sanctions against Nord Stream 2, Russia’s $10.5 billion natural gas pipeline to Germany, will finally take effect next week, but their timing and design can only slow down the project’s now-certain completion. Even so, Ukraine, the primary injured party from the new pipeline, is grateful for small favors from Washington.The sanctions — crafted by Senators Ted Cruz, Republican of Texas, and Jeanne Shaheen, a New Hampshire Democrat — have been attached to the 2020 National Defense Appropriations Act, which already has been approved by Congress; President Donald Trump has promised to sign it. The State and Treasury Departments will have 60 days to present to Congress a list of vessels involved in the construction of Nord Stream 2 and another Russian pipeline, TurkStream, and of people and firms that provided these ships. Those people and entities will have 30 days to wind down their business or they will be barred from entry to the U.S. and could have their assets frozen.The sanctions come too late to hurt TurkStream, which runs under the Black Sea to the western area of Turkey. The underwater part of the pipeline is complete and even filled with Russian natural gas. Turkish President Recep Tayyip Erdogan has said the pipeline would be operational in early January.Nord Stream 2, a twin pipeline running under the Baltic Sea that allows Russia to avoid shipping gas overland through Ukraine, is another matter. Gazprom, the monopoly exporter of Russian pipeline gas, originally intended to complete it by the end of the year, and still had a chance to do in late October, when the Danish government gave permission to lay pipe in its waters. But inclement weather has played havoc with the construction, and earlier this week, the project’s operating company promised completion “in the coming months.” In late November, Dmitri Kozak, Russia’s deputy prime minister in charge of energy, said Nord Stream 2 would begin operation “in mid-2020.”Even with the effective 90-day grace period allowed by the U.S. sanctions, the last 168 kilometers of each of the two strings of pipe may not be laid by the time the punitive measures kick in. It’s unlikely that Allseas, the Swiss-based contractor now working on Nord Stream 2, will defy the U.S. restrictions if it’s not done in time. Then, Gazprom will need to use the only pipe-laying vessel it owns, the Academician Chersky, to finish the job — a slow and iffy scenario, even if Russian Foreign Minister Sergey Lavrov says Nord Stream 2 won’t be halted. Congress could have been much harsher with its sanctions, though. It could have hit Nord Stream 2’s financial investors, all major European energy companies: Engie SA, Uniper SE, OMV AG, Wintershall Dea GmbH and Royal Dutch Shell Plc. It could have sanctioned Russian debt. It could have made it impossible to import equipment for the construction of Russian pipelines and do repairs and maintenance on them. All of these measures have been considered at various times, but struck down in order to avoid a major confrontation with the European Union and an upheaval in financial markets.As things stand, the punitive measures have the appearance of a vindictive gesture, a nuisance move that won’t change what comes next. Russian President Vladimir Putin’s grand plan of supplying gas both to Europe bypassing Ukraine and to China through the just-opened Power of Siberia pipeline can no longer be scuppered. The likely Nord Stream 2 delay may even be beneficial for Russia, in a way. Competition from Middle Eastern and U.S. liquefied natural gas and warm weather have driven down the price of Russian pipeline gas in Europe. In the three months through September, the average gas price, $169.8 per 1,000 cubic meters, was 18% lower than in the preceding three months and 32% lower than a year before. The last time Gazprom faced such prices was in 2004. Increasing supplies in such a market situation would send prices tumbling even further.No matter how carefully the U.S. sanctions are crafted to spare European allies, Germany is still irritated. On Thursday, German Foreign Minister Heiko Maas tweeted in response to the U.S. measures that “the European energy policy will be decided in Europe, not in the U.S. We fully reject external interference and extraterritorial sanctions.” Theoretically, the European Union could even retaliate by raising duties on American LNG.But the U.S. sanctions, belated, weak and irritating to the German government as they are, still aren’t completely pointless. Ukrainian President Volodymyr Zelenskiy’s office thanked U.S. Congress for them on Thursday, and while Ukraine routinely thanks Western governments for sanctioning Russia, this time there’s a specific reason for the gratitude. Ukraine and Russia are locked in a dispute over the future of Russian gas supplies through Ukraine’s pipeline system. The current contract runs out at the end of the year, and Ukraine wants a long-term agreement to replace it while Russia doesn’t want to commit itself. The possibility of a protracted delay to Nord Stream 2 strengthens the Ukrainian position because it makes Russia nervous, and time is running out for the EU-brokered negotiations if supplies of Russian gas to Europe are to continue without interruption. To contact the author of this story: Leonid Bershidsky at email@example.comTo contact the editor responsible for this story: Tobin Harshaw at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Leonid Bershidsky is Bloomberg Opinion's Europe columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
WASHINGTON/VIENNA, Dec 12 (Reuters) - Underscoring U.S. lawmakers' continuing unhappiness with Russia, a Senate committee on Wednesday advanced legislation seeking to hamper Russian energy pipelines and boosting NATO but delayed voting on a measure nicknamed the "sanctions bill from hell" that would punish Moscow for meddling in the 2016 U.S. election. The Senate Foreign Relations Committee approved four energy bills, including the "Energy Security Cooperation with Allied Partners in Europe Act of 2019," which opposes Russia's Nord Stream 2 pipeline, encourages NATO countries not to buy Russian gas and expedites U.S. natural gas exports.
Poland's anti-monopoly body UOKiK said on Friday it had fined France's Engie Energy, one of five European firms responsible for financing gas pipeline Nord Stream 2, 40 million euros ($44 million) as part of proceedings against Gazprom. UOKiK said Engie had refused to provide it with documents and information about the agreements it signed with Russian gas supplier Gazprom.
Poland's anti-monopoly authority said it will impose a significant fine on Friday as part of proceedings against Russia's Gazprom and five European firms responsible for financing the planned Nord Stream 2 natural gas pipeline. Poland sees Nord Stream 2, which would double Russia's gas export capacity via the Baltic Sea, as a threat to Europe's energy security and argues it will strengthen Gazprom's already dominant position on the market. In 2016, Poland's anti-monopoly office (UOKiK) said the Nord Stream 2 project would undermine competition and it rejected a joint venture between Gazprom and its European partners, which include Uniper, Wintershall, Shell, OMV and Engie.
Austrian oil and gas group OMV aims to reduce its own carbon emissions by trapping CO2 underground and could offer the same storage solution to clients, its chief executive said. Projects in the United States and Norway have shown that capturing and underground storage of waste carbon dioxide produced by burning fossil fuels or chemicals, is a safe way to help fight global warming, CEO Rainer Seele told journalists on Thursday. Fossil fuel companies are seen as a major cause of global warming as they produce huge amounts of carbon dioxide from burning oil and have come under increasing pressure from investors to reduce their CO2 emissions.
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is...
COPENHAGEN/BUDAPEST, Oct 30 (Reuters) - Denmark on Wednesday gave the go-ahead to the Nord Stream 2 gas pipeline, removing the last major hurdle to completion of the Russian-led project that has divided opinion in the European Union. The Danish permit was the last needed for the 1,230-km-long (765-mile) pipeline from Russia to Germany. The United States and several eastern European, Nordic and Baltic countries have expressed concern that the project, led by state-owned Gazprom , will increase Europe's reliance on Russian gas.
Today we are going to look at OMV Aktiengesellschaft (VIE:OMV) to see whether it might be an attractive investment...
* Rally on report China open to partial US trade deal * STOXX 600 up 0.4%, DAX up 1% after hitting one-week high * Fed's Powell says open to more rate cuts, eyes on FOMC minutes * Solid update lifts food deliverer Takeaway.com, GVC gains * Wall Street gains on hopes of trade deal Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: email@example.com CORPORATE BONDS ARE THE CRACK IN THE ECONOMY "Where can we observe the first crack?" asks Sonja Laud, chief investment officer at Legal & General Investment Management (LGIM), asking a question that's often posed as investors wonder where the biggest vulnerability is in the market as the economic cycle nears an end, or rather as investors perceive the end of a decade-long cycle.
* Rally on report China open to partial US trade deal * STOXX 600 up 0.5%, DAX up 1% after hitting one-week high * Fed's Powell says open to more rate cuts, eyes on FOMC minutes * Solid update lifts food deliverer Takeaway.com, GVC gains * US futures point to positive Wall Street start Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. BEING RIGHT AND still GETTING IT ALL WRONG (1212 GMT) Amid speculation on what impact the rise of Democratic hopeful Elizabeth Warren in the 2020 presidential race could have on U.S. stocks, here's a interesting anecdote from Lee Spelman, head of U.S. equities at JP Morgan Asset Management. Reminiscing on how she had not seen the victory of Donald Trump coming in 2016, she told the audience of the asset manager's International Media Summit in London this morning about a meeting she had with portfolio managers a week before the election.
* European shares rally on report China open to partial US trade deal * STOXX 600 up 0.5%, DAX up 1% after hitting one-week high * Fed's Powell says open to more rate cuts, eyes on FOMC minutes * Solid update lifts food deliverer Takeaway.com, GVC gains * US futures point to positive Wall Street start Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: firstname.lastname@example.org TRADE HOPES ADD FUEL TO EUROPEAN GAINS (1047 GMT) Stocks in Europe, and trade-sensitive Germany in particular, got quite a jolt earlier after a report that Beijing was ready for a partial truce with Washington kindled hopes that the next round of official talks between China and the United States kicking off tomorrow will result in a deal of some sort.
* European shares rally on report China open to partial US trade deal * STOXX 600 up 0.5%, DAX up 1% after hitting one-week high * Fed's Powell says open to more rate cuts, eyes on FOMC minutes * Solid update lifts food deliverer Takeaway.com, GVC gains * US futures point to positive Wall Street start Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: email@example.com CHINA: LOOKING BEYOND THE TRADE WAR (0959 GMT) Well it actually looks very, very good if you ignore the current tug of war between the world's two biggest economies, at least that's according to Richard Titherington, chief investment officer for JP Morgan AM's EM equities.
* European shares recover after sell-off on trade angst * STOXX 600 up 0.3%, DAX up 0.5% after Fed's Powell says open to more rate cuts * Asian shares ease as U.S.-China standoff spreads * Solid update lifts food deliverer Takeaway.com, GVC gains Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: firstname.lastname@example.org EUROPE'S CASH PILE WHETS ASSET MANAGERS' APPETITE (0843 GMT) While European stocks markets may have been underperforming their U.S. peers for some years now, the cash piles laying unused across the continent, particularly in Germany, are whetting the appetite of big asset managers such as JP Morgan AM. Despite negative interest rates and local banks starting to charge clients for holding too much cash, the typical European saver has a strong bias in favour of cash in comparison to the U.S., notes Patrick Thomson, chief executive officer for EMEA.
* European shares stabilise after sell-off on trade angst * STOXX 600 up 0.3%, DAX up 0.5% * Asian shares ease as U.S.-China standoff spreads * Solid update lifts food deliverer Takeaway.com, GVC gains Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: email@example.com OPENING SNAPSHOT: SEARCHING FOR DIRECTION (0731 GMT) Selling pressure has indeed stabilised but Europe was lacking a bit of direction at the open with the STOXX 600 trading just around parity in early deals and sectoral indexes showing muted moves. The major indices are now gaining some momentum, with Germany's DAX up 0.5% and the STOXX 600 up 0.3%, but investors are staying on the sidelines ahead of the start of another round of high level trade talks between the U.S. and China tomorrow and there is little hope of any breakthrough.
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. European shares are expected to stabilise this morning, although worries over mounting tensions between Washington and Beijing ahead of high level talks persist, likely limiting any gains, as the outlook for earnings growth deteriorates further.
Russia's Nord Stream 2 and TurkStream natural gas pipeline projects threaten to increase Moscow's political influence in Europe and leave it vulnerable to supply disruptions, U.S. Energy Secretary Rick Perry said on Monday. "Nord Stream 2 is designed to drive the single source gas artery deep into Europe, and a stake through the heart of European stability and security," Perry said.
An alternative route bypassing Danish waters for the construction of the undersea Nord Stream 2 gas pipeline would cost "hundreds of millions of dollars", the chairman of Russian gas company Gazprom told Reuters. The comments by Viktor Zubkov mark the first time Gazprom has conceded that the project would run up significant costs by making a detour around Denmark. In a letter obtained by Reuters in August, the pipeline operator said the project could be delayed by up to eight months and incur further costs of 560 million euros ($615 million) due to hurdles in securing permits from Denmark.
There is no need to discuss alternative routes for Gazprom's Nord Stream 2 gas pipeline project, which is still awaiting approval for its Danish leg, the chief executive of Austria's OMV said on Thursday. The pipeline is already under construction and has almost reached the Danish border, but Denmark has yet to give its go-ahead for the scheme. "I am very much convinced that we do not need to discuss any alternative routes in Nord Stream 2 company, because I am convinced... that we have a good chance to get the permit in Denmark," Rainer Seele told reporters.
Royal Dutch Shell is asking the U.S. Congress not to enact sanctions against the Russia-led Nord Stream 2 undersea gas pipeline to Germany, said Cederic Cremers, head of Shell's business in Russia. A U.S. Senate committee passed a bill in July to place sanctions on companies and individuals involved in building the Nord Stream-2 gas pipeline from Russia to Germany.
Attractive stocks have exceptional fundamentals. In the case of OMV Aktiengesellschaft (VIE:OMV), there's is a...
JPMorgan has upgraded its outlook for Europe's top oil and gas companies, forecasting sharp growth in shareholder returns while striking a downbeat note on the pace of a transition to low-carbon energy. JPMorgan's bullish tone comes amid calls from some investors and activists for reduced investment in oil and gas companies due to a gradual shift towards cleaner, renewable energy. The brokerage Redburn downgraded the sector earlier this month, citing increased risks from a global transition to renewables.