Consider Sticking with Yield until Offshore Drilling Rebounds (Barron’s)
As North America continues to redefine the oil and natural gas landscape, another sector is getting swamped in its wake: offshore energy exploration. A significant reduction in available contracts has many of the biggest names in shipping putting the brakes on capital spending. Until such time that the shipping market bounces back, industry experts such as Morgan Stanley’s Ole Slorer and Jacob Ng recommend playing shipping companies with a robust yields. “Our favorite yield plays include Seadrill, Seadrill Partners and North Atlantic Drilling,” they said. Today, Seadrill (SDRL) offers an 11.2 percent yield, as well as a safe port until the shipping storm blows over.
Despite Friday's sharp sell-off, both the Dow Jones and the S&P 500 ended the week in the plus column, up 0.55% and 0.40%, respectively. The sell-off in tech continued as the NASDAQ fell 0.67%. The MCSI Emerging Markets Index continued its rebound and was up 1.37%
You had several big gainers in your Bull Market Alert portfolio, including Gazprom (OGZPY), which added 5.71%; GasLog Ltd. (GLOG), which jumped 5.56%; Bank of Ireland (IRE)
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