International stock news

Rss Today on Proactive AU

2014-07-22

Australia’s All Ords gains with miners leading

 
Miners have pulled the All Ords up 0.1% to 5,534 points. The Shanghai Stock Exchange Composite Index is up 0.95% to 2,074.01 points while in pre-open markets the Dow-mini is up 27 points to 17,051.73 points.
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Rss Today on Proactive UK

2014-07-22

Broker spotlight - Tesco, Sainsbury, Weir Group and Royal Mail

 
Japanese broker Nomura today upgrades is price targets on UK supermarket giants Sainsbury (LON:SBRY) and Tesco (LON:TSCO). The latter is lifted 5p to 270p and comes after an eventful day yesterday, which saw the announcement of the departure of CEO Clarke and another profit warning from the ubiquitous store. Sainsbury, meanwhile, moves to 305p from 285p and the rating is an unchanged 'neutral' - the same rating for Tesco. Nomura , in a note about the sector, highlights its opposition to the view that the growth of discounters like Lidl as a kind of revolution in "demand". "Instead, we generally argue that they are simply getting back up to a ‘normal’ level of penetration for their format, which was previously underrepresented in the UK.."it said. City firm Investec has reduced its target price on delivery firm Royal Mail (LON:RMG) by 70p 490p and rates the stock a 'hold'. The broker aptly describes today's first quarter interim management statement (IMS) as a 'mixed' bag - with letters ahead, parcels behind, costs better than expected and still on track to meet full year expectations." "A lot of moving parts, but the stock is likely to weaken further in the near-term," says analyst John Lawson. US broker Jefferies reckons the UK industrials first half results season will be mixed and, for investors, careful stock picking has never been so important. The macro economic picture shows a mixture of growth and softening but it expects a modest improvement in Europe and the USA in the second half. Among notable decisions, it downgrades Rotork and Morgan Advanced Materials to 'hold' from 'buy' but upgrades the price target substantially on Weir (LON:WEIR)  to 2,680p from 2,335p previously. The rating is kept at 'hold'. More follows....
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Rss Today on Proactive US

2014-07-22

Wall Street settles in the red on global conflicts, Herbalife sinks

 
U.S. stocks fell modestly today amid heightened global tensions, as investors digested news of more deaths from the Israeli-Palestine conflict and as Europe threatened more sanctions against Russia after the downing of the Malaysia Airlines jet last week. 
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