International stock news

Rss Today on Proactive AU

2014-12-19

ASX200 on a roll, but which oil play rocketed 100%?

 
Resources stocks and banks are leading the way today with the ASX200 rising 2.5% to 5,338.6 points.Despite the slump in oil prices, shares in this Texas-focused oil and gas company doubled today.Find out which company!
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Rss Today on Proactive UK

2014-12-19

Broker spotlight, including IAG, Sainsbury, Next, Inmarsat and Wood Group

 
The broker Liberum this morning made a compelling argument in favour of British Airways owner IAG’s takeover of Aer Lingus (LON:AERL). Yesterday IAG (LON:IAG), which also owns Spanish carrier Iberia, said its bid approach had been rebuffed by the Irish. Liberum reckons a tie-up makes sense as it would strengthen the enlarged group’s position in the North Atlantic market, while allowing it to transfer some its traffic to Dublin. Crucially, it would also give IAG vital and very valuable take-off and landing slots at a congested Heathrow. Repeating its ‘buy’ 600p price target, Liberum told investors: “IAG was designed from the outset to be a scaleable consolidation vehicle. Group operating airlines co-operate and co-ordinate, with only some functions merged where it makes sense, such as in cargo.  “This means there is clear scope to plug in additional airlines as they are acquired.” Elsewhere in brokerland, retailers were in the headlines. Barclays kicked things off with a downgrade to Sainsbury (LON:SBRY), dropping the shares in the grocer to ‘equal weight’ from ‘overweight’. In a note to clients, it said: “Sainsbury's sales and profits have proved more resilient than those of its UK listed peers in recent years.  “We think this relative resilience may be sustainable given its differentiated offering, its consistent execution and the format and geographical advantages of its store network.  “However, we are also very much alive to investor skepticism - some of which is understandable - especially with Tesco set to clarify its own plans in January. “Sainsbury can only overcome these doubts by consistent delivery over a number of quarters.  “We also expect the degree of Sainsbury's outperformance may appear to shrink in the quarters ahead - if only because peers face easier comps.  We therefore struggle to see how Sainsbury can be materially re-rated in the near term.” Ahead of what is likely to be a manic weekend for our High Street stalwarts, the broker Jefferies has taken a forensic look at the prospects of our leading retailers. In doing so it has downgraded Next (LON:NXT) ‘hold’, while promoting Debenhams (LON:DEB), once the sector basket case, to its ‘buy’ list. Marks & Spencer (LON:MKS), meanwhile, remains a ‘buy’, although the price target has been tickled a little higher to 550p a share. “M&S fared poorly in our July survey despite a net 29% of consumers saying they liked the new website,” Jefferies said.  “Some execution issues are likely to persist (such as delivery delays following Black Friday) but we see grounds for optimism now that the tablet mobile website has been re-launched and M&S has significantly improved its delivery offer.” Shares in the satellite communications group Inmarsat (LON:ISAT) were lower in this morning after Goldman Sachs took out the red pen. Moving directly to ‘sell’ from ‘buy’, the American investment bank expressed worries over the level of US government spending, and the take-up of a new product aimed at the maritime market. “On our base-case forecasts, the longer-term outlook is attractive, but we expect these risks to drive near-term relative underperformance,” it said in a note to clients.  Goldman’s valuation of Inmarsat was also pegged back – to 690p from 870p previously. Rounding up the major moves of the morning, there were upgrades for WPP (LON:WPP) and Aviva (LON:AV.) Citi moved to ‘buy’ from ‘neutral’ on the market giant, while Bernstein went to ‘outperform’ from ‘neutral’ on the insurer. Finally, in a note on the services sector, Goldman dropped Wood Group (LON:WG.) to ‘neutral’ from ‘buy’.
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Rss Today on Proactive US

2014-12-20

Wall Street up premarket after Dow's biggest 2-day advance since 2011

 
U.S. stock futures were sharply higher in early trading Friday as markets looked poised to post three positive sessions in a row, after the Dow surged 421 points yesterday, pushing the average's two-day rally to 4.2% --- the biggest in over three years.
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