Waiting For The Friday Unemployment
It’s hard for me to focus on the markets, as action and especially news flow seem pretty boring to me. The same stories (forecast) all over and over again…
Well, it all comes to unemployment figures on Friday, maybe we will have some sense on the future direction of the markets.
Lot of hype on Rusal Hong Kong IPO today. As I wrote earlier (Respect To The Hong Kong Stock Exchange) I do not think highly off the company. Beside massive overcapacity in aluminum the problems for me are poor corporate governance and dependence on political sponsorship from Russian prime minister czar. Apparently the IPO will be carried out, but only professional investors could participate and the issue will be traded in large lots limiting access for the retail investors. If the Rusal shares aren’t suitable for retail investors, why did the Hong Kong Exchange list Rusal shares at all?
Many time these sort of garbage IPO’s were preludes to the market crashes. I wonder is it the same this time?