Barclays bullish on Pakistan, suggests buying on dips

News Image

MG News | February 20, 2024 at 03:41 PM GMT+05:00

0:00

February 20, 2024 (MLN): Barclays has retained its overweight rating on Pakistan, and suggests buying on weakness as the new government is unlikely to opt to default on its Eurobonds, as Bloomberg reported.

"Political noise will likely linger even after national assembly convenes, but repayment risks are unlikely to rise given improved foreign reserves," Avanti Save, a credit strategist in Singapore, wrote in a note.

For a Sharif-led government, we would expect the initial 12 months after elections to be less disruptive.

On the other hand, a PTI-backed government would likely prioritize its political agenda over economic issues, in our view.

“This could delay or slow IMF talks. That said, we do not expect the government to halt payments on its eurobonds", he added.

The bonds will also react negatively if election results are dismissed, but stabilize if a caretaker government is installed.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,250.00 119,740.00
118,145.00
955.00
0.81%
BRENT CRUDE 72.93 73.17
71.75
0.42
0.58%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.68 69.86
68.45
0.47
0.68%
SUGAR #11 WORLD 16.57 16.58
16.37
-0.02
-0.12%

Chart of the Day


Latest News
July 30, 2025 at 05:54 PM GMT+05:00

Pakistan BCI decreased by 1.2 points in July


July 30, 2025 at 05:17 PM GMT+05:00

Pakistan consumer confidence falls to 40.1 points in July


July 30, 2025 at 05:03 PM GMT+05:00

PKR rises by 10 paisa against USD


July 30, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: You Can’t Always Get What You Want



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg