International stock news

Rss Today on Proactive AU

2015-03-02

ASX hits seven-year high while this gold explorer jumped 33.3%

 
The ASX200 has risen 0.5% to a seven-year high of 5,958.9 points with the Reserve Bank of Australia making a decision on rates tomorrow.Find out which gold explorer excited investors after reporting further high grade gold from trenching and sampling.
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Rss Today on Proactive UK

2015-03-02

Broker spotlight - Daily Mail and General Trust, ITV, HSBC, Rightmove, Gemfields, KrisEnergy

 
Peel Hunt analysts tuned into the UK media sector this morning and sent out a 50-page note on their favourite publishers and broadcasters.   Overall, they selected six core stocks for the year and the reasons for each pick were quite different  Daily Mail and General Trust (LON:DMGT) was the best read. “The firm has made most sure-footed progress in replacing print adverts with digital revenue,” said analyst Malcolm Morgan. “Mail Online, for example, is now annualising at £80mlm revenue.  Admittedly, the growth path here is increasingly international, rather than just in the UK.” Local newspaper specialist Trinity Mirror (Buy, TP 275p) is Peel Hunt’s top small cap news stock. “TNI has everything you should hate in a media company: no top-line growth; too much print; a big pension fund deficit,” said Morgan. “On the positive side, it is now net cash, with £150mln freehold assets, and a strong track record of cost control.  “Turnaround is not priced in. It is also back on the dividend list, although this should not preclude a buyback in our view.” In the broadcasting space, it rates ITV (Buy) the top play and upgrades its target price on the channel to 300p. “This might look fruity, but we point out that ITV is net cash, so the PE is ungeared and it is a strategic asset.” It also rates 4imprint (LON:FOUR) and Johnston Press (LON:JPR) as Buys. Switching off from the media space, there was another downgrade for troubled lender HSBC (LON:HSBA). This time Nomura sent out a bearish view on the bank, which unveiled a 17% fall in full-year profits last week. “We believe HSBC is at the start of another process of going back to the drawing board to think about what the shape of the business should look like for the next 3-5 years,” said Nomura. “Running into such a restructuring, there is material uncertainty on the future earnings power of the group, which means management needs to explain their intentions, possibly through an investor day in the summer.  “We have limited confidence in our estimates beyond 2015.” Elsewhere, the broker reckons online property portal Rightmove (LON:RMV) is streets ahead of its rivals. Nomura upped its target price on the firm this morning to 3300p.  Jefferies analysts were also busy at the start of the week. The broker send out Buy ratings on Capital Group (LON:CPI), Rentokil Initial (LON:RTO) and Synthomer (LON:SYNT). On the flip side it turned bearish on Spectris (LON:SXS) and Royal Bank of Scotland (LON:RBS). The broker reaction to the recent results from KrisEnergy (SGX:SK3) provided a ringing endorsement of the strategy of Singapore listed oil and gas firm. Credit Suisse, which expects the stock to outperform, reckons there is more to the company than meets the eye, while Macqurie Research (also on outperform) said ‘value unlocking is underway’. Gemfields (LON:GEM) has unveiled another record-beating auction result - this time from sales of lower quality rough emerald and beryl from the Kagem mine in Zambia. Investec said the auction was 'encouraging' from a US dollar per carat perspective. "The real value generation at Kagem comes from the high quality stone auctions that typically account for around 70% of the value of the product from the mine, and for which we have continued to see strong price appreciation." Northland Capital Partners upgraded Hummingbird Resources (LON:HUM) after the firm said it had number of opportunities to improve the economics and life-of-mine of its Yanfolila gold project in Mali as it unveiled the results of its optimisation study.  The end result was an increase in Northland’sprice target to 93.4p per share from 88.7p
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Rss Today on Proactive US

2015-02-28

Wall Street drops, all three major averages post significant February gains

 
U.S. stocks finished moderately lower on Friday after a series of economic reports, including a second reading on fourth quarter GDP showed a 2.2% annual growth rate, lower than the previous 2.6% estimate. But the Dow rose 5.6% for the month, the Nasdaq jumped 7.1%, while the S&P 500 gained 5.5% in February, the best monthly percentage gains since 2011.
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