International stock news

Rss Today on Proactive AU

2014-07-31

ASX200 has very big July, up 4.4%

 
Bank stocks have pulled the ASX200 up 0.2% to 5,632.9 points. The Shanghai Stock Exchange Composite Index rose 0.93% while in pre-open markets the Dow Mini lost 28 points to 16,793.
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Rss Today on Proactive UK

2014-07-31

Broker spotlight - Barclays, Diageo, Royal Dutch Shell, Afren, Herencia Resources ...

 
A flood of company announcements left most brokers frantically updating forecasts and views. Barclays (LON:BARC)  remains a buy for UBS after yesterday’s update. The broker reckons it was a solid performance with the bad debt and core business improvement the highlights. “Our PT of 305p is at the low point of a potential valuation range of 305p – 360p,” it added. Deutsche Bank adds that Barclays core bank profit was 27% ahead of forecasts, driven primarily by revenue strength. 'Buy' with a price target of 285p, a 10p rise after the figures. Spirits giant Diageo (LON:DGE) underwhelmed again today according to RBC Capital.  “With organic revenue growth for the year in line with consensus expectations at 0.4% and both EBIT and EPS 1–2% light, this was not a vintage set of results from Diageo, but in the context of recent hiccups it counts as satisfactory.” Smirnoff's performance in the US is stabilising, which has eased concerns over deeper problems with some of Diageo’s brands, but there are no forecast changes and the shares are fully valued it added. ‘Underperform’ is the recommendation and £16 RBC's price target. Royal Dutch Shell's (LON:RDSB)  net income of US$6.1bn compared to Canaccord’s forecast of US$5.8bn and consensus of US$5.46bn.  Shell has promised RDS has promised enhanced financial performance said the broker and these results give an early stage indication of the group’s potential when all aspects of the operations are performing. If sustained this could mean up to US$30bn in buy-backs over 2014-15. Buy with a target price of 2,800p says Canaccord. With all fo the big cap rsults it was, in theory, a good day to bury the bad news but if that was Afren’s (LON:AFR) intention it didn’t work.  Shares plummeted after both the CEO and COO were temporarily suspended pending investigation of unauthorised payments. Investec cut its rating to 'hold' from 'buy', adding that it has placed its target price under review pending further disclosure by the company. Afren said that the related payments were not made by the company. It has postponed its first half results. Canaccord added; “The news raises plenty of questions which are unlikely to be answered in the near  term. Afren's corporate governance reputation has not been amongst the best in the sector and investor scepticism in some quarters would appear to have been vindicated by today's news. Its rating and target price is also under review. Among the small cap miners, Sanlam says DiamondCorp (LON:DCP) is approaching underground production much more quickly thanks to its recent UK4 discovery.  “Earlier cashflows from UK4 will ensure debt and interest payments are comfortably covered and improve the value of the overall project.  “Although a bulk sample has not yet been taken UK4’s grade could be as high as 60 cpht which would add 0.9m carats to the early years of the mine plan. “We maintain our ‘buy’ recommendation and due to the changing mine plan, note that the risks to our forecasts are on the upside.” RFC Ambrian meanwhile, likes Herencia Resources’  (LON:HER) plan to fasttrack its Picachos project in Chile into production adding it knows of few projects with similar attributes that investors can get exposure to, particularly at such a low entry price. 
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Rss Today on Proactive US

2014-07-31

Wall Street in the dumps ahead of monthly jobs report

 
U.S. stock futures pointed sharply lower in early trading Thursday, as investors were wary ahead of tomorrow's jobs report after the Fed's mixed messages yesterday, and as jobless claims rose last week from a 14-year low. 
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