Finimize - 🛢 Aramco’s getting cozy with China

Dwindling IPOs, oily maneuvers, and thrift-store troubles

Hi Reader, here's what you need to know for March 28th in 3:10 minutes.

🔔 The second quarter of 2023 is just around the corner, so it’s high time you set yourself up for success. Listen in to the Finimize Podcast, and find out where experts like Kathy Jones, Jeremy Schwartz, and Hugh Gimber think the economy could be heading in the coming months.

Today's big stories

  1. Saudi Aramco has made big waves in China’s oil sector
  2. Here are the five savvy “sell” rules the pros swear by – Read Now
  3. Shaky markets have given firms cold feet about going public

Aramco Adds Oil

Aramco Adds Oil

What’s Going On Here?

Saudi Aramco, the oil behemoth, is carving more inroads into the world's second-biggest economy.

What Does This Mean?

Aramco has a $161 billion profit from last year burning a hole in its pocket, and it looks like the firm has got its heart set on a Chinese spending spree. The oil titan inked a deal over the weekend that’ll see it co-invest in a new $12 billion refining and petrochemical plant in Liaoning province. And the very next day, Aramco upped its multi-billion dollar investment in the country – coughing up $3.6 billion for a 10% stake in one of China's biggest oil-refining firms. That kind of spending might look overeager, but these are pretty savvy moves: they let Aramco wade further into China's refining sector while bolstering its crude oil sales to the country. As a matter of fact, these two recent deals will see the firm shipping nearly 700,000 barrels of oil each day to some of the very refineries it’s investing in.

Why Should I Care?

Zooming in: Fuel to the fire.
Aramco's ambitions are a clear sign that the firm’s got faith in China’s energy demand growing over the coming years. But the oil titan’s moves are a kind of counter-attack too. See, Western sanctions have pushed Russia to offer its slippery elixir elsewhere at discount prices – and just last month Russia nabbed first place as China's top supplier. That’s put Saudi Arabia – normally China’s go-to oil producer – on red alert, suggesting that this rivalry might be about to start heating up.

The bigger picture: Get the smelling salts.
China’s bounceback has been somewhat muted so far, with data showing that industrial groups’ profits slumped by 23% in the first two months of the year. The world’s second-biggest shipping group, Maersk, reckons that weakness is down to the fact consumers are still “stunned” by pandemic disruptions. When they recover, then the economy should come back roaring too.

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Analyst Take

How To Know When It’s Time To Sell Your Stocks

How To Know When It’s Time To Sell Your Stocks

By Theodora Lee Joseph, Analyst

Identifying and investing in good companies isn’t simple, but it’s a lot easier than knowing when to sell them.

Having a clear sell strategy, even before you buy, can benefit you in the long run by ensuring that your emotions don’t get in the way of your investment objectives.

Add a handful tried-and-tested “sell” signals to the mix too, and you could be onto a winner.

So that’s today’s Insight: five savvy “sell” rules that professional investors use.

Read or listen to the Insight here

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Public Embarrassment

Public Embarrassment

What’s Going On Here?

Data out over the weekend showed that companies are hesitant about going public right now, with stock market conditions seriously touch-and-go.

What Does This Mean?

It's no secret that companies prefer a stable, robust stock market when they’re floating their shares for the first time. After all, higher investor confidence typically leads to higher valuations, and it also makes it easier to sell shares at a premium. But lately stability has been in pretty short supply, what with the widespread recession fears and ongoing turmoil in the banking sector – and one tell-tale volatility measure has been riding high for much of March. No wonder, then, that businesses are holding off on going public: according to data from Bloomberg, firms have raised a mere $19.7 billion from initial public offerings (IPOs) so far this year – a four-year low-water mark and a 70% dropoff from the same time last year.

Why Should I Care?

For markets: Second to none.
Despite the gloomy IPO landscape, secondary offerings – the sale of shares by companies that are already listed – appear to be a bright spot, raking in 48% more than the same time last year. That could be down to companies capitalizing on the early-year rally – plus, investors are more likely to place a bet on familiar, established firms anyway. But markets as a whole still have a long way to go, and some analysts think they’ll only regain their luster once folks have an idea where interest rates are headed.

Zooming out: Call to ARMs.
SoftBank will be watching markets very closely indeed and hoping for a turnaround. The tech investor’s planning to list chip-designing firm ARM on the stock market later this year, and it’s already making some canny preparations: last week the company announced that it’s upping the price of its chip designs, used in over 95% of smartphones – which should boost profit and tempt some hard-nosed investors when it does pull the trigger.

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💬 Quote of the day

“I love criticism just so long as it’s unqualified praise.”

– Noel Coward (an English playwright, actor, and composer)
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🎯 On Our Radar

  1. The stuff of nightmares. Australian scientists have discovered a new species of giant spider.
  2. Not quite a bargain. Musk admitted that Twitter’s currently worth half what he paid for it.
  3. Fashionable, not frugal. Folks are complaining that Gen Z shoppers have driven up thrift store prices.
  4. Picture perfect. Here’s how you capture happiness in an image.
  5. Tourist trap. So-called “travel aesthetics” are making vacations a serious pain.
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