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Miners and tech lead gains

Wed, 15th Jun 2016 18:54

(ShareCast News) - A lull in US dollar strength gave industrial metals' prices a boost, in turn sending shares of miners higher.Adding to the positive sentiment, data published overnight in China revealed stable lending dynamics across the country in May, although the figures also pointed towards a peaking credit cycle, according to economists.Given recent improved data and officials in Beijing's renewed focus on structural reforms means further monetary policy easing is "off the table for now", according to Julian Evans-Pritchard at Capital Economics.Chinese banks extended a net 986bn yuan in new loans in May (consensus: 750bn yuan)."This means that the acceleration in credit growth is likely to start to reverse before long, probably as soon as Q3, which could prove to be a major headwind to growth next year."Three-month copper futures on the LME finished 2.5% higher at $4,630 per metric tonne, alongside similar-sized gains in aluminium, nickel and zinc futures.To take note of as well, Bloomberg cited "two persons with knowledge of the matter" according to whom China is planning to increase its stockpiles of base metals via both state and commercial reserves, although no precise timeline was forthcoming.Gains in ARM Holdings and Laird accounted for the rise in the technology space, as some analysts waxed optimistic over the prospects for Apple's iPhone 8 which might include radical new features and would likely overshadow the launch of the iPhone7.A positive note from analysts at Barclays boosted Tesco's share price."Tesco's share price has fallen by over 25% from its peak in late March (vs -2% for FTSE 100). Some of the weakness is understandable considering, for example, the limited earnings visibility provided by the company at April's FY results."However, some of the other causes of weakness strike us as exaggerated, such as the threats from ASDA and Amazon Fresh, both of which were highly anticipated and neither of which is necessarily imminent or direct," analysts James Anstead, Nicholas Champ and Julie Zhuang said in a research note sent to clients.They reiterated their 'overweight' recommendation and 215p target price.Top performing sectors so far todayIndustrial Metals & Mining 1,232.07 +6.02%Mining 9,095.38 +4.26%Automobiles & Parts 6,343.17 +1.76%Technology Hardware & Equipment 1,192.31 +1.58%Food & Drug Retailers 2,451.52 +1.57%Bottom performing sectors so far todaySoftware & Computer Services 1,639.48 -1.26%Oil & Gas Producers 6,244.13 -0.29%Real Estate Investment & Services 2,568.58 -0.17%Forestry & Paper 13,798.11 -0.08%Alternative Energy 0.00 0.00%

More News

10 May 2018 11:48

Laird Disposes Of Korean Prototyping Business To Hankook Tire

LONDON (Alliance News) - Electronics firm Laird PLC on Thursday said it has sold its 51% holding in its South Korean prototyping business to Hankook Tire Co Ltd for USD43.6 million.The sold

27 Apr 2018 08:16

Laird First Quarter Revenue Grows As Takeover By Advent Progresses

LONDON (Alliance News) - Laird PLC said Friday that first quarter revenue grew 8% on an organic basis with growth across all divisions, as its GBP1.00 billion takeover by Advent International Corp

20 Apr 2018 15:00

UK Shareholder Meetings Calendar - Next 7 Days

Monday 23 AprilForeign & Colonial Investment Trust BioquellMicrogenHgCapital

23 Mar 2018 10:23

Engineer Babcock Appoints Two New Non-Executive Directors

LONDON (Alliance News) - Engineering company Babcock International Group PLC said Friday that it has appointed Kjersti Wiklund and Lucy Dimes as independent non-executive am a

7 Mar 2018 14:02

Advent to seek buyer for conveyor belt firm Ammeraal Beltech -sources

By Dasha Afanasieva and Clara Denina LONDON, March 7 (Reuters) - Private equity firm Advent has hired Goldman Sachs and Rothschild to sell Dutch conveyor belt company a

1 Mar 2018 08:16

UPDATE 1-Advent Intl to buy UK tech firm Laird in $1.65 bln deal

LONDON, March 1 (Reuters) - Private equity firm Advent International has agreed to buy British electronics and technology business Laird, the firms said on Thursday, valuing a

1 Mar 2018 07:23

Advent International agrees $1.4 bln takeover of Laird

LONDON, March 1 (Reuters) - Private equity firm Advent International has agreed to buy British electronics and technology business Laird, the firms said on Thursday, valuing 1

13 Feb 2017 07:59

Laird said to consider sale of precision metals division

(ShareCast News) - Laird is said to be considering the sale of one of its major divisions as it struggles to turn its business around. According to The Telegraph, the FTSE 250 electronics component maker, whose shares have fallen sharply since its profit warning in October and rights issue in Decemb

24 Jan 2017 10:32

Laird reiterates full-year expectations, on track for rights issue

(ShareCast News) - Laird, whose shares tumbled back in October after a profit warning, reiterated its full-year expectations on Tuesday as it said it was on track to announce a proposed rights issue to raise up to £185m to shore up its balance sheet. The technology company said trading for the ye

11 Jan 2017 13:58

UPDATE 3-British aerospace company Cobham misses profit target, scraps dividend

* Early readout puts trading profit at 245 mln stg * Group's already lowered target range was 255-275 mln stg * Scraps dividend after poor result on profit and debt * Shares fall as much as 21 pct (Adds CEO, CFO comments from analyst call) By Paul Sandle LONDON, Ja

2 Dec 2016 08:39

LONDON MARKET OPEN: Laird And Oil Producers Down; Housebuilders Up

2 Dec 2016 08:03

Laird to raise £185m through a rights issue, scraps final dividend

(ShareCast News) - Electronics company Laird is to raise £185m through a rights issue and scrap its final dividend in a bid to strengthen its financial position. Through the rights issue, the company will offer shares to existing shareholders in proportion to their existing holdings in the first qua

25 Oct 2016 16:23

Anglo American leads Britain's FTSE higher, Whitbread slides

* FTSE 100 index up 0.5 pct at close * Anglo American leads market higher * Whitbread falls after update * Broker downgrades weigh on midcaps (Adds detail and quote, updates prices at close) By Kit Rees and Atul Prakash LONDON, Oct 25 (Reuters) - Britain's top shar

25 Oct 2016 15:12

GRAPHIC-Downgrades, profit warnings ring Brexit alarms for UK mid-caps

* FTSE 250 vs FTSE 100: http://reut.rs/2eCvwk9 * Profit warnings spark broker downgrades * Earnings disappointments lead to outsized moves * Senior, Cobham, Laird among midcaps warning on profits By Kit Rees LONDON, Oct 25 (Reuters) - A spate of profit warnings among

25 Oct 2016 10:10

Tuesday broker round-up

(ShareCast News) - Segro: Barclays keeps at overweight with a target price of 520p. Howden Joinery: Berenberg downgrades to hold, 450p target. Standard Chartered: Deutsche Bank reiterates sell with a 574p target. Cobham: UBS reiterates neutral with a 160p target. Cobham: Barclays reiterates equal

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