Tag Archives: stocks

MARKETS: Stocks fall on coronavirus impact

MARCH 26 (The Bulletin) — Stock markets turned fully bullish over the past week or so as investors took fright over the potential long-lasting impacts of the coronavirus on societies and economies. Even gold producers which had survived the initial onslaught, saw their share prices turn red.

Centerra Gold, which mines the giant Kumtor mine in Kyrgyzstan, saw its share price drop by 16% to C$7.42 and Anglo Asian Mining, which mines gold in Azerbaijan, saw its share price drop by 30.6% to 85p.

The region’s two listed banking stocks, TBC Bank and Bank of Georgia, were the worst hit.

The outlook for investors is grim too. With no sign of the coronavirus slowing down, and the epicentre of the disease now rooted in Europe, analysts are predicting more restrictions on life and more drags on economies and markets.

ENDS

— This story was first published in issue 440 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

MARKETS: Coronavirus rips into stocks

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MARCH 2 2020 (The Bulletin) — Fears over the spread of the coronavirus ripped into global markets over the past week, and listed companies that are closely linked to the Central Asia and South Caucasus region were no exception.

Azerbaijan’s gold producer, Anglo Asian Mining, was the biggest faller, dropping nearly 20%. But this was by no means exceptional. KAZ Minerals, the Kazakhstan-focused copper producer, and its rival, Central Asian Metals, dropped 15% and nearly 14%.

Only three companies avoided double-digit drops, TBC Bank, Bank of Georgia and Kazatomprom. Of these three, the two Georgian banks performed the best, limiting their falls. They were supported by more strong financial data that showed strong growth in the Georgian economy and also by the strengthening of the Georgian lari.

— ENDS

— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Markets: Regional shares rise

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DEC. 27 2019 (The Bulletin) — With the exception of Georgia Healthcare Group, the region’s main listed shares all rose over the past couple of weeks. Most of the rises were in line with a general equity rise across the globe.

The biggest riser was KAZ Minerals, the Kazakhstan-focused copper producer. It has also been the beneficiary of a rise in copper prices. Other big risers included Anglo Asian Mining, the Azerbaijan-focused gold producer, and Bank of Georgia.

Georgia Capital saw its stock rise by nearly 10% too. This may be linked to the drop in value of Georgia Healthcare shares, down more than 13%.

After a share swap, Georgia Capital increased its stake in Georgia Healthcare to 71% from 57%. This is slightly lower than the top end of its estimates, set at 75%.
ENDS

— This story was first published in issue 432 of the weekly Bulletin on Dec. 27 2019

Markets: KAZ Minerals’ share price rises on copper

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NOV. 27 2019 (The Bulletin) –With little corporate news and only minor economic data, stock prices across the region were steady.

KAZ Minerals, the Kazakhstan-focused copper producer, was the biggest riser, up 4.15% to more than 500p, its highest price since the start of the month. These gains were driven by a rise in the price of copper which jumped 2% over the week.

Central Asia Metals also produces copper from slag heaps in Kazakhstan but its share price stayed broadly even.

The other stock that rose significantly over the week was TBC Bank which was up by 3.3% at 1,244p. It has had a tumultuous year with its share price taking a battering when money laundering charges were made against its founder, Mamuka Khazaradze. He denies the charges. TBC Bank’s share price at the start of the year was 1,522p.

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— This story was first published in issue 430 of the weekly Bulletin on Nov. 27 2019

STOCKS: Bank of Georgia shares soar

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Shares in Bank of Georgia surged 11% after it reported “outstanding” Q3 results. They are now trading at around the price they were being sold for a the end of August but still significantly below the heights reached in mid-May.

Banking stock in Georgia is sensitive to the country’s economy performance and, although the Georgian economy has grown markedly this year, analysts are concerned that inflation is catching up and will undermine it.

In its Q3 report, Bank of Georgia said, importantly, that it had reduced its exposure to high risk loans and that it was now better positioned to deal with vagaries thrown up by the Georgian economy.

TBC Bank, Bank of Georgia’s local rival, also saw its stock rise by 3.6%.

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— This story was first published in issue 428 of the weekly Bulletin

Markets – Caspian Sunrise shares rise 48%

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SEPT. 24 (The Bulletin) — Central Asia Metal’s $402.5m purchase of a zinc mine in Macedonia dominated the company news file this week. That said we are still waiting for its impact on Central Asia Metal’s shares. Trading was suspended before the announcement and is not due to restart on London’s AIM until Monday.

In other news, oil producer Caspian Sunrise saw its share price jump by 48% after it said that revenues for the first six months of the year had tripled to around $2.8m.

In Georgia, TBC Bank finished up slightly at 1,639p, off an earlier 6-week high in the week of 1,680p. Georgia Healthcare was also up by 3.2% at 320p but this is still bumping around last week’s 2017 low of 310p.

Bank of Georgia ended the week at 3,303p – its lowest level since April.

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— This story was first published in issue 344 of The Conway Bulletin, now called the Central Asia & South Caucasus Bulletin, on Sept. 24 2017.