International stock news

Rss Today on Proactive AU

2015-05-26

ASX continues rise, but this zinc player climbed 16.2%

 
Major banks and Fortescue Metals Group have led the All Ords up 0.9% to 5,770.4 points. Find out which company is progressing the application process for its zinc and lead project.
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Rss Today on Proactive UK

2015-05-26

Broker spotlight including AstraZeneca, Royal Mail, Burberry, GlaxoSmithKline, Angle ...

 
UBS has cut its earnings projections for pharma giant Astra Zeneca (LON:AZN) after partner Amgen pulled out of their psoriasis treatment brodalumab. The Swiss broker said Amgen’s decision was a surprise and related to events of suicidal ideation.  Bro-mab now reverts back to AstraZeneca, which is reviewing the data and will announce what it intends to do with the drug as soon as possible. UBS said bro-mab was a critical asset and had expected it to contribute significantly to Astra's bottom line from 2017, especially as bro-mab could have been a straightforward profit stream. Earnings for 2017-2020 have been reduced by between 3-9%, while its sum of the parts value drops to £56 per share from £60. Heavyweight JP Morgan Cazenove, meanwhile, repeated an 'underweight' rating on another UK pharma heavyweight GlaxoSmithKline (LON:GSK) and lowered its target to 1,320p from 1,380p previously. With the two key upside options (break-up or M&A) dismissed, the weak outlook warrants a larger discount, the broker said. Energy distributor DCC (LON:DCC) gets an upgrade from analysts at German bank Berenberg today, who lifted the target price on the shares to £5,850 from £4,780. It comes after the group's acquisition of Butagaz, France’s second largest LPG business and DCC’s largest acquisition to date. "We believe the lower oil price is putting increased pressure on oil majors to dispose of downstream assets and view DCC, the market leader in energy distribution in Europe, as a likely beneficiary," said the broker, rating the shares 'buy'. Royal Mail (LON:RMG) was delivered an upgrade from City firm Cantor, which lifted the rating to 'hold' from 'sell'. Shares in the London-listed postal  giant did well in early trades. Cantor also raised its target price to 500p from 440p. Fashion group Burberry (LON:BRBY) gets its target price slashed to 2,319p today from 2,513p by Goldman Sachs. Last week, the group's full year results got a disappointed reaction from investors. Positives on revenues and pre-tax profit  were overshadowed by a 1.1% drop in adjusted profits, with FX costs weighing, and a cautious outlook statement. Medtech firm Angle (LON:AGL) has received patents for Parsotix, its circular cancer cell collection technology, in China and Australia. These territories represent major new potential markets for Parsortix, where there is already a strong and growing interest for liquid biopsies. Buy says Cenkos.  Northland said results from latest drilling at Mariana’s (LON:MARL) Hot Maden prospect  was another positive development at the deposit. A new area of zinc mineralisation was found, while the visible inspection of the fourth hole seems to suggest of the high grade copper gold extension to the south. ‘Speculative buy’ says the broker.
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Rss Today on Proactive US

2015-05-26

TSX steady in thin trading amid public holidays in U.S., Europe

 
Canadian shares were flat as loss among commodity producers overshadowed gains among financial shares in a quiet trade due to public holidays in the U.S. and much of Europe. The benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) was down less than 0.1 percent at 15,190.59 at 3:18 p.m. in Toronto. Half of the ten share groups were in the negative territory.
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