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International stock news

Rss Today on Proactive AU

2015-01-28

ASX has modest gain, but which companies jumped 10% or more?

 
Energy stocks have pulled the ASX200 up to a modest 0.1% gain to 5,552.8 points as oil prices climbed.While the market struggled, these companies managed gains of 10% of more.
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Rss Today on Proactive UK

2015-01-28

Broker spotlight - InterContinental Hotels, BG Group, Flybe, Genel Energy and BP

 
Deutsche Bank analysts have checked in to InterContinental Hotels (LON:IHG) but decided to downgrade its rating on the shares to 'hold' from 'buy'. In the last five years the group has outperformed against peers but that gig is now coming to an end, reckons analyst Richard Carter. Around 70% of its earnings before interest, tax and amortisation (EBITA) comes from exposure in the US and the stock is now trading at a premium to European peers and most US groups. "In the short-to-medium term, with the US hotel cycle peak looming ever closer, we see little that can drive the rating meaningfully further," said Carter. The target price is tweaked upward to 2,770p from 2,365p previously as the broker changed its weighted average cost of capital metrics. The same broker - Deutsche - has also previewed the Q4 statements about to come forth from the big cap oilers and is far from excited. BG Group (LON:BG.) has its target price downgraded to 1,050p from 1,175p but is still rated 'buy' and is a top pick, while BP (LON:BP.) has its target cut to 470p from 480p previously. Shell (LON: RSDB) is rated 'hold'. Analyst Lucas Herrmann notes that with crude US$30 below the fourth quarter average, the results themselves will be seen as really just a look at the past, while more significant will be what the firms say on outlook, including intentions on spend, dividend commitment, and balance sheet strength. Herrmann says against the background of rapidly deteriorating profit and cash flow estimates and with the oil price yet to establish a clear floor, he has little conviction for the sector. "Our preference remains for those names which offer solid income or growth and in which we expect management to act aggressively to reposition for the more challenging macro." Budget carrier Flybe (LON: FLYB) comes under the radar of Cantor this morning, and it has halved its price target on the stock to 80p from 160p. The rating is a repeated 'hold'. Earlier in the week, a Q3  trading update sent shares tumbling as the firm warned on annual numbers. The airline said it would be "around break-even" for the year to March 31. Robin Byde, at Cantor, said the firm was making progress on its turnaround but current trading is tough and changes are taking time. "Despite the fall in the shares, we need to see more evidence of progress to be convinced of the investment merits of this regional carrier model," he said. Irish broker Westhouse said it still expected an oil price recovery (although not a neat 'v' shape, but reckons investors need to have a long-term investment horizon and cherry-pick those stocks best protected over the next year or so either via hedging or have a robust balance sheet and/or have transformational catalysts expected in 2015.  The broker prefers in alphabetical order Circle Oil (LON:COP, Buy), Faroe Petroleum (LON:FPN, Buy), Genel Energy (LON:GENL - Buy), Ithaca Energy (LON: IAE Buy), Lekoil (LON: LEK, Buy), Sirius Petroleum ( Buy) and Tullow Oil (LON; TWL, Buy).  
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Rss Today on Proactive US

2015-01-28

Wall Street tumbles after weak durable goods, company forecasts

 
U.S. stocks plummeted on Tuesday, with the Dow settling down more than 290 points, after durable goods data and earnings disappointed.
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