International stock news

Rss Today on Proactive AU

2015-01-29

Carbon Energy secures $1.2M loan facility from Macquarie Bank

 
The $1.2 million loan facility from Macquarie Bank will be repaid from the expected research and development tax rebate for FY2015. Carbon Energy's Blue Gum Gas Project has Queensland's fifth largest Proved and Probable Reserve of 1,128 petajoules.
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Rss Today on Proactive UK

2015-01-29

Broker spotlight, including Antofagasta, Experian, Mtchells & Butlers and Unilever

 
Analysts have got the red pen out for copper giant Antofagasta (LON:ANTO) on Thursday, with US broker Citi slashing the target price to 660p from 705p amid depressed prices for the metal. In a production update on Wednesday, the company said copper, gold and moly production and cash costs all beat guidance for 2014. But  Citi says in the absence of any bottom up excitement short term and the continuing "difficult" macro environment surrounding copper, it was repeating the 'sell' stance and cutting the target. Copper has recently reached five and a half year lows after falling around 20% since October as Chinese growth slows and amid concern at Fed's timeline for interest rates rises.  Meanwhile, Japanese broker Nomura has cut its rating on the miner's shares to 'reduce' from 'neutral' and says catalysts have diminished following the uninspiring 2015 cost guidance update. 2015 guidance showed flat gross cash costs y-o-y, noted analyst Patrick Jones, who added the broker believed this left ANTO with "insufficient catalysts to drive any further upside potential or distract from what is now a relatively more expensive valuation". Nomura cut the price target to 600p from 700p. Deutsche is upbeat on credit assessment experts Experian (LON:EXPN) US$600mln share buyback programme to take place over the next 14 months. The broker has lifted its full year 2016 and 2017 EPS forecasts by 1.5% and  2.4% respectively on the back of the news and given a punchy price target upgrade to 1300p from 1150p previously. "We expect group organic revenue growth to pick up in Q4 (in-line with management’s expectation) and we forecast 1.3% organic growth in Q4 after 3 quarters of no growth," said Deutsche analyst Andy Chu. "Therefore we think that we are at the low point of organic growth and we expect more a balance between acquisitions and cash returns going forward." German bank Berenberg takes the microscope to  the food manufacturing and household sector, and lifts the price target on Unilever (LON:ULVR) to 3,000p from 2,850p and rates the stock a 'hold'. The group last week issued full year 2014 results. "Despite another soft organic sales growth year anticipated in 2015 (3%), the relentless focus oncost efficiencies and mix bodes well for margins.." said the broker. It forecasts 11% EPS growth for 2015, despite the group being very exposed to "macro conditions~" due to its geographical exposure. Elsewhere, in brokerland, Peel Hunt reckons restaurant and pub group Mitchells & Butlers (LON:MAB) delivered  a solid IMS today but it needed a "bit more". It downgraded the shares to 'hold' from 'buy' targeting 440p. ".... after a strong run the shares are within touching distance of our fair value and we see no need to raise this at the current time," said Nick Batram.
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Rss Today on Proactive US

2015-01-29

Dow closes down 195 pts after Fed statement, oil plunge

 
U.S. stocks ended sharply lower Wednesday after the Fed signaled it remains on track to hike interest rates sometime in the middle of this year.
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