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Sector movers: Miners boosted by positive broker views

Wed, 21st Sep 2016 14:50

(ShareCast News) - Shares in miners provided the biggest lift for the market, as at least two more top brokers weighed in with positive views on the space.Barclays upgraded its view on Anglo American and Kaz Minerals, to 'equalweight' from 'underweight' in both cases.On Anglo American, the broker's analysts said: "Had it not been for our cautious outlook on the diamond and platinum group metals markets, and continued labour/political uncertainty in South Africa, we would have been more positive on the investment case."Macquarie was the other broker with an improved view of the mining space on Wednesday, lifting its recommendations on BHP Billiton and South 32 to 'outperform', mainly on the back of upwards revisions to its price forecasts for coal and manganese.Its upgrade on South 32 was in fact a double-notch one, from 'underperform'.On the back of its "276-day" supply reform initiative, China's domestic production of coking and thermal coal had dropped by between 10% to 20% year-on-year since late March, the Australian broker explained in a research note sent to clients.That led the broker's analysts to hike their price forecasts for thermal and coking coal in 2017 by between 24% to 35%.The recommendation on Anglo American on the other hand was revised up to 'outperform'.Evraz's shares extended their mercurial rebound despite further falls in the most heavily-traded rebar future on the Shanghai Futures Exchange.UK life insurers were also on the up, benefiting from Credit Suisse's decision to reiterate its 'overweight' stance on the group.Going the other way, stock in BAE Systems came under pressure as analysts at Barclays reaffirmed their underweight on the aerospace and defence engineering group, referencing a recent downgrade from Standard&Poor's, the deteriorating UK pension environment and the growing political sensitivity regarding defence exports to Saudi Arabia. Top performing sectors so far todayIndustrial Metals & Mining 1,520.64 +4.18%Technology Hardware & Equipment 2,172.41 +2.35%Oil Equipment, Services & Distribution 15,161.87 +2.02%Life Insurance 7,117.71 +1.94%Mining 11,872.01 +1.77%Bottom performing sectors so far todayAerospace and Defence 4,516.33 -1.39%Gas, Water & Multiutilities 6,509.54 -1.27%Health Care Equipment & Services 7,618.94 -1.02%Travel & Leisure 8,549.21 -1.00%Personal Goods 30,785.06 -0.95%
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4 May 2021 15:37

IN BRIEF: Takeover vehicle of Kaz Minerals chair to buy rest of shares

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29 Apr 2021 11:03

Kaz Minerals on track for annual guidance amid metals production drop

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26 Apr 2021 07:38

Bidco Nova Resources moves to take Kaz Minerals private

April 26 (Reuters) - The consortium bidding to take KAZ Minerals private said on Monday its bid for the copper miner had been declared unconditional after winning more than 90% of support.Nova Resources, led by KAZ Minerals Chairman Oleg Novachuk ...

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9 Apr 2021 17:44

IN BRIEF: Kaz Minerals takeover by Nova becomes unconditional

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7 Apr 2021 09:42

BROKER RATINGS: Barclays cuts Kaz to equal weight from overweight

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7 Apr 2021 08:07

LONDON BRIEFING: Downbeat Ryanair says financial 2022 to be breakeven

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6 Apr 2021 08:41

Kaz Minerals confirms special tax status for Russian copper project

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26 Mar 2021 09:43

BROKER RATINGS: Jefferies upgrades Imperial Brands and downgrades BAT

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26 Mar 2021 09:34

Kaz Minerals chair raises takeover offer to more than GBP4 billion

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26 Mar 2021 09:31

UPDATE 2-European stocks close to all-time highs as miners, tech shine

* Miners, tech boost STOXX 600* Benchmark index 7 points short of record highs* Maersk rebounds after sharp losses on Suez Canal blockage* ABB gains on $4.3 bln share buyback plan (Updates to close, adds fresh comments)By Sruthi ShankarMarch 26 (Reu...

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26 Mar 2021 09:28

UPDATE 2-FTSE 100 logs strongest day in over two weeks on commodity-linked boost

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Miners biggest gainers on FTSE 100* UK retail sales rise 2.1% in February* Smiths Group tops index on upbeat forecast* Both FTSE 100 and FT...

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26 Mar 2021 08:38

UPDATE 1-Buyout group makes $5.5 bln final bid for KAZ Minerals

(Adds details, share price)March 26 (Reuters) - A consortium aiming to take copper miner KAZ Minerals private has increased its bid by 9% to 4.02 billion pounds ($5.5 billion) after minority shareholders indicated they would reject earlier proposa...

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26 Mar 2021 08:38

UPDATE 2-Buyout group makes $5.5 bln final bid for KAZ Minerals

(Adds minority shareholder's view)March 26 (Reuters) - A consortium aiming to take copper miner KAZ Minerals private has increased its bid by 9% to 4.02 billion pounds ($5.5 billion) after minority shareholders indicated they would reject earlier ...

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26 Mar 2021 08:22

LONDON BRIEFING: Aviva completes streamlining push with sale in Poland

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