LAFDI market report - Friday 13th February

By Rupert Taylor on Friday 13 February 2015

Features

The LAFDI delivered another week of out-performance adding to its recent recovery after a poor start to the year.      Weekly return

LAFDI

2.26%

MSCI World

0.87%

Top 5 performing Stocks in last week

1

QIWI US Equity

11.58%

2

SGM US Equity

10.30%

3

ONDK US Equity

10.18%

4

WEX US Equity

6.12%

5

LC US Equity

5.87%

Worst 5 performing Stocks in last week

1

XOOM LN Equity

-4.48%

2

RM US Equity

-4.11%

3

NNI US Equity

-3.03%

4

EPO LN Equity

-2.51%

5

CFN LN Equity

-1.40%

  * Returns are calculated for the week to local market close on Thursday

QIWI Plc began what could be a spectacular rebound as micro and macro combined to drive the stock up 11.6%.  The stock has suffered of late due to its geographic exposure to Russia and other states from the former USSR.  However concerns have begun to lift with signs of diplomatic progress in Ukraine.  On top of this the company announced an agreement with MegaFon, a leading Russian telecommunications operator, to start a strategic partnership aimed at the development of high-tech solutions in electronic payments. In the immediate term the partnership will launch a co-branded product based on Visa QIWI Wallet technology.
Stonegate Mortgage Corporation had a strong week bucking the down-trend of the past year.  There was a raft of broker activity the balance of which was positive including an upgrade to BUY from Compass Point and a reiteration of a positive stance from Keefe Bruyette & Woods.  Equally the recent stabilization in bond yields, after the recent step higher, will have helped. 

Interestingly both of the newly floated US alternative lenders also make the top 5 risers this week.  OnDeck Capital and Lending Club Corporation both had a strong week with the latter in particular helping the LAFDI given its significant weighting. 

WEX Inc continued its recent run adding a further 6.1% over the week. 

Shares of Xoom Corp were 4.5% lower over the week following a raft of generally negative broker commentary which included both rating and target price downgrades.  The shares remain rooted close to historic lows. 

Please note –           The LAFDI is now available on Bloomberg.  Tickers:

LAFDITR  GO for the Total Return Index

LAFDIPR  GO for the Price Return Index

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