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LAFDI market report - Friday 17th April

The LAFDI enjoyed a strong week in both absolute and relative terms.  The vast majority of index constituents showed a positive return.  In fact 22 of the 30 index constituents were up on the week with all of the top 10 delivering a return of at least +3%.  

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Weekly return



MSCI World


Top 5 performing Stocks in last week


MNY AU Equity



XOOM US Equity



QIWI US Equity



NEWS US Equity



ONDK US Equity


Worst 5 performing Stocks in last week


MONI LN Equity



TBDY SS Equity



EPO LN Equity



NSM US Equity



TUNG LN Equity


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

The shares of Australian payday lender, Money3, had a good week, up almost 10% and putting a halt to a 2 month down trend after positive coverage in The Australian. Xoom Corp enjoyed a strong week, perhaps supported by positive broker recommendations.  Analysts at both Macquarie and Stifel Nicolaus rated the stock as a buy, albeit the shares had started motoring on Tuesday ahead of those calls on Thursday and Wednesday respectively. After the last set of quarterly figures on the 11th of February there shares have become something of a consensus buy recommendation on the street with just one firm taking a negative stance. 

Qiwi plc continues its recent recovery – perhaps as Russian concerns continue to abate. 

On the downside, Monitise shares remain volatile, having the dubious pleasure of being the worst performing stock this week, having been the second best performer last week. Recent management changes appear to be causing increased uncertainty with investors reevaluating their holdings. 

TrustBuddy shares continued their bad run, down almost 8% on the week. Newsflow is light, however, the company had its AGM last week which could have prompted investors to take a fresh look at their holdings in this unloved stock. With taking the shares down 60% since the beginning of the year and the market cap of this company now standing at just under US$25m (see below for more on this), for one of the biggest P2P lenders in Europe outside of the UK (check out our volume index), this feels like an exceptionally low valuation.

The LAFDI index committee met last week.  At the quarterly re-balance, which will occur at the close of trading today, one stock will be removed and one added.   TrustBuddy will be removed after failing both the minimum requirement on both daily liquidity and minimum market cap. The newly IPO’d Victory Park Speciality Lending (Ticker VSL LN) will join the index. Analysis of its daily trading volumes since IPO suggest that it will comfortable surpass the 3month average volume hurdle.  

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

LAFDITR Index <GO> for the Total Return Index

LAFDIPR Index <GO> for the Price Return Index

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