Market Brief

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Author

邱俊瑜先生 (Porter Yau)
助理經理

主要按基本因素選股,但有時也會參考圖表、技術分析。除股票外,亦經常研究期權 。歡迎來電賜教或交流心得。
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俄鋁 (00486.HK)

Wednesday, January 02, 2019 Views1955

12月26日,據媒體報導,美國財政部宣布計劃撤銷OlegDeripaska所擁有的俄鋁(00486.hk)公司的制裁,它也是英國Aughinish氧化鋁廠的母公司。

 

愛爾蘭外交部表示,經過30天的國會審議之後Aughinish氧化鋁廠將解除制裁威脅。該工廠產量佔歐洲氧化鋁總產量的三分之一。

 

對於投資俄鋁,無容置疑是美國對俄鋁的政策風險。今年年頭宣布制裁俄鋁,倫敦金屬交易所(LME)暫停俄鋁產品的交易,香港所有銀行要求客戶不可買入,只能沽出;更有銀行要求客戶轉走俄鋁的股票!基金亦不容許持有該股,導致單日大跌50%,全年低位更見$1.31。

 

現時美國的政策難以預測,但俄鋁已十分配合美國,轉換董事長,更改公司架構;美國對其的制裁亦一延再延,現在一直延續到了2019年1月21日。政策上,感覺對於俄鋁制裁是轉向樂觀的。

 

 

上圖紅色代表香港俄鋁(00486.hk)的股價表現,淺藍色是俄羅斯俄鋁(RUAL.ME)的股價表現。同一間公司,可見走勢一致,2017年香港的俄鋁股價更長期高於俄羅斯(RUAL.ME)。但現價(00486.hk)卻有33%的折讓!

 

現時香港的俄鋁PE只有4倍,一旦美國對其取消制裁,相信資源和鋁材基金將有可能重新買入此股,折讓將會收窄。

 

建議:小注買入

買入價:$2.5

目標價:$3.2 或 美國宣布撤銷其制裁

止損價:$2.24

 

 

 

研究報告由輝立証券集團旗下於香港證監會持牌的輝立証券(香港)有限公司及/ 或輝立商品有限公司(“輝立”)所發報。本文所包含的資料均為輝立從相信為準確的來源搜集。輝立對有關報告所引致之任何損失或虧損概不負責。本報告所載的資料只供参考用途,並沒有法律約束力,亦不構成投資建議、邀約、購入、出售任何產品。

 

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輝立(或其僱員) 可能持有本文所述有關的投資產品。此外,輝立(或任何附屬公司)隨時可能替向報告內容所述及的公司提供服務、招攬或業務往來。


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