stock exchange
Like other stock markets around the world, Japanese markets remain volatile. Moreover, the slow U.S. economy continues to hurt Japan’s major export industries. However, we think that Japan’s interest-rate cuts and its recently enacted $143.7-billion U.S. stimulus package will keep stock prices rising. JAPAN EQUITY FUND $4.79 (New York symbol JEQ; CWA Rating: Aggressive) mostly invests in large-capitalization stocks on the Tokyo Stock Exchange. The fund’s top holdings include: Toyota Motor, Mitsubishi UFJ Financial Group, Honda Motor, Sony Corp., Sumitomo Corp. and Panasonic Corp. Japan Equity Fund sells for 15% less than the value of its assets. It’s a buy....
Generally speaking, Canadians can’t buy units of mutual funds registered in the U.S., because they aren’t registered with provincial securities commissions for sale in Canada. For that matter, some Canadian funds are not available in all provinces. Canadians can’t buy Vanguard index mutual funds. They can, however, buy Vanguard ETFs listed on stock exchanges. Vanguard Dividend Appreciation ETF, $39.29, symbol VIG on New York, tracks an index of about 200 stocks screened for a history of rising dividends. The top holdings are currently Wal-Mart Stores, International Business Machines, The Coca-Cola Co., PepsiCo, Chevron Corp., Johnson & Johnson, McDonald’s Corp., Abbott Laboratories, ExxonMobil and Procter & Gamble. Vanguard Dividend Appreciation ETF’s MER is 0.28%, and it has a dividend yield of 2.8%. Vanguard Dividend Appreciation ETF is okay to hold....
Equinox Minerals, $1.88, symbol EQN on Toronto (Shares outstanding 685.8 million; Market cap: $1.3 billion), is focused on mining and exploration in Zambia. Equinox first sold shares to the public at $0.71 each, and began trading on Toronto in June 2004. The Perth, Australia-based company is also listed on the Australian Stock Exchange. Equinox operates its 100%-owned Lumwana copper mine in Zambia, West Africa. Lumwana began production last December after a fire delayed its start-up for four and a half months....
HudBay Minerals Inc., $8.20, symbol HBM on Toronto (Shares outstanding: 153.1 million; Market cap: $1.3 billion), produces base metals. HudBay first sold shares to the public at $2.25 each, and began trading on Toronto in December 2004. HudBay produces most of its zinc and copper in northern Manitoba, where it owns the 777 mine and the Trout Lake mine. The company also runs a concentrator, a copper smelter and a zinc plant at Flin Flon. Aside from its operating mines, HudBay holds 1.4 million hectares of exploration properties in Manitoba and Saskatchewan, and land in Guatemala, New York State, the Yukon, Ontario and Chile. As well, last August HudBay completed a resource study that outlined an 18- to 20-million-tonne zinc deposit at its Lalor Lake project near Flin Flon. HudBay plans to undertake further exploration to outline a mineable deposit....
BOMBARDIER INC., Toronto symbols BBD.A, $3.39, and BBD.B, $3.32, has received a firm order for 20 of its new CSeries regional jets from Lease Corporation International Aviation (New Buildings) Limited. Lease Corporation is an Irish company that leases aircraft to Singapore Airlines, British Airways and other major airlines. The deal is worth $1.4 billion, and Bombardier will probably begin delivering the planes in 2014. (All amounts except share price in U.S. dollars) Moreover, Lease Corporation has an option to buy 20 more jets, though it will probably wait until it has received most of the initial order before it exercises the option. To put this contract in perspective, Bombardier earned $1 billion, or $0.56 a share, in the fiscal year ended January 31, 2009. That’s more than twice the $479 million, or $0.26 a share, it earned the previous year. The year-earlier figures exclude the writedown of an investment....
IDEARC INC. $0.07 (Symbol IAR) now trades on the Pink Sheets over-the-counter market under the symbol IDAR. The New York Stock Exchange delisted Idearc in November 2008 after the stock price fell below the minimum required for continued listing. Sell. NVIDIA CORP. $8.79 (Nasdaq symbol NVDA) expects that its revenue in its fourth fiscal quarter, ending January 31, 2009, will fall by 40% to 50% compared to the third quarter. The drop is mainly due to falling computer sales and strong price competition among chipmakers. However, Nvidia still has a high share of the video-chip market. Its new video-chips for cellphones also improve its prospects. Buy. TENNANT CO. $15 (New York symbol TNC) has dropped from $40.48 in September 2008 on fears that plant closures will hurt sales of its industrial floor-cleaning equipment. The company now plans to cut 8% of its workforce, which should help it stay profitable during the current downturn. As well, Tennant should benefit from falling prices for raw materials such as steel. Buy.
Japanese stock markets remain volatile, along with global markets. As well, a slowing U.S. economy continues to hurt Japan’s major export industries. However, we think that Japan’s interest rate cuts and $51 billion stimulus package will help stock prices rebound. JAPAN EQUITY FUND $4.51 (New York symbol JEQ; CWA Rating: Aggressive) invests mostly in large capitalization stocks on the Tokyo Stock Exchange. The fund’s top holdings include: Toyota Motor, Mitsubishi UFJ Financial Group, East Japan Railway Co., Shin-Etsu Chemical Co. and Takeda Pharmaceutical Co. Japan Equity Fund is available for 15% less than the current value of its assets. It’s a buy....
JAPAN EQUITY FUND $4.51 (New York symbol JEQ; CWA Rating: Aggressive) invests mostly in large capitalization stocks on the Tokyo Stock Exchange. The fund’s top holdings include: Toyota Motor, Mitsubishi UFJ Financial Group, East Japan Railway Co., Shin-Etsu Chemical Co....
SWISS HELVETIA FUND $16.02 (New York symbol SWZ; CWA Rating: Conservative) invests mainly in large-capitalization Swiss stocks. The manager of the fund is Hottinger Group, which, as Banque Hottinger, dates back to 1786. The $621.9 million fund’s top holdings are Nestle SA (food & beverages), 13.4%; Roche Holdings (pharmaceuticals) at 9.7%; Syngenta AG (agribusiness), 8.4%; Novartis AG (health care and pharmaceuticals), 6.4%; UBS AG (banking), 3.3%; BKW FMB Energie AG (Swiss power), 3.2%; ABB Ltd. (Swiss engineering), 3.2%; Actelion NV (Swiss biopharma), 5.4%; Atel Holding AG (Swiss energy), 2.8%; and Temenos Group AG (Swiss banking software), 2.7%. The main industry exposure of the stocks in the fund is as follows: Pharmaceuticals, 17.0%; Food & beverages, 14.3%; Biotechnology, 13.4%; Banks, 11.8%; Technology, 7.7%; Utility suppliers, 7.5% Chemicals, 6.8%; and Retailers, 5.6%;...
JAPAN EQUITY FUND $7.39 (New York symbol JEQ; CWA Rating: Aggressive) invests mostly in large capitalization stocks on the Tokyo Stock Exchange. Lately, the fund has added to its holdings of firms selling to emerging markets, to offset exposure to the slowing U.S. economy. It has also upped its holdings of Japanese financial stocks. These have limited exposure to subprime-related securities. The Japan Equity Fund’s top holdings include: Toyota Motor, Mitsubishi UFJ Financial Group, Mizuho Financial, Sony Corp., Denso Corporation, Mitsubishi Corp., Canon, East Japan Railway, Komatsu Ltd. and Takeda Pharmaceutical Co. Japan Equity Fund is available for 9% less than the current value of its assets. Our long-standing advice is that you only buy closed-end funds trading at close to or below net asset value. It’s a buy.