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Major stock market indexes in Germany and the United Kingdom fell on Tuesday as investors awaited data on UK inflation, gross domestic product and industrial production as well as European Union industrial production figures and the German consumer price index. French markets are closed for Bastille Day.

The DAX dropped 1.80% at 7:09 am CET and the FTSE 100 declined 1.24% at 7:10 am CET.

Both the euro and the pound were flat against the dollar, changing hands for 1.13441 and 1.25525, respectively, at 7:11 am CET.

Breaking the News / VP

Major stock market indexes in Germany and the United Kingdom fell on Tuesday as investors awaited data on UK inflation, gross domestic product and industrial production as well as European Union industrial production figures and the German consumer price index. French markets are closed for Bastille Day.

The DAX dropped 1.80% at 7:09 am CET and the FTSE 100 declined 1.24% at 7:10 am CET.

Both the euro and the pound were flat against the dollar, changing hands for 1.13441 and 1.25525, respectively, at 7:11 am CET.

Breaking the News / VP

Major stock market indexes in Germany and the United Kingdom fell on Tuesday as investors awaited data on UK inflation, gross domestic product and industrial production as well as European Union industrial production figures and the German consumer price index. French markets are closed for Bastille Day.

The DAX dropped 1.80% at 7:09 am CET and the FTSE 100 declined 1.24% at 7:10 am CET.

Both the euro and the pound were flat against the dollar, changing hands for 1.13441 and 1.25525, respectively, at 7:11 am CET.

Breaking the News / VP

Analysts at RBC Capital Markets upgraded gold miner Centamin to 'outperform' from 'sector perform' on Thursday, stating that a shift in management would likely lower the risk of a move into new projects in West Africa.
RBC thinks that with focus on getting the group's Sukari project back on track, there was now less near-term risk of Centamin looking to build something from its West African exploration portfolio.
"We continue to believe the options there may struggle to stack-up vs. Sukari. Similarly, we expect M&A (acquisitions) to be on the back burner for now, no bad thing given again we see few assets that fit with Sukari," said RBC.
"Whilst we don't expect Endeavour Mining to come back with another offer for CEY near term we do think ongoing consolidation in the global gold space (such as AlacerSSR) indicates a bidder for CEY may materialise in time. Sukari is now one of the few large gold assets outside the majors."
The analysts added that both Martin Horgan's appointment as chief executive and recent board additions were positive for Centamin and stated that, after "two years of operational disappointments", the team's renewed focus will primarily be on delivering on operational targets.
Whilst the Canadian bank, which also raised its target price on the group's shares from 180.0p to 210.0p, understood that the recent departure of a second chief operating officer could be read as "concerning", it actually said a streamlining of management structure could be "a positive".

https://www.sharecast.com/news/broker-recommendations/rbc-raises-centamin-to-outperform-lowers-hochschild-to-sector-perform--7552364.html

The Times

The gold-rush in the shares of Centamin has continued after the Egyptian goldminer, which is a constituent of the FTSE 250, said that production in the second quarter of the month had come in higher than expected.

Helped by the flight of money during the pandemic crisis into gold — the traditional safe haven for investors in times of trouble — Centamin shares have bucked the Covid-19 trend.

Trading at 152p before the stock market crashed during March, Centamin stock briefly dipped below £1. However, with Centamin saying its operations are little affected and the price of gold going from below $1,500 an ounce to more than $1,800 an ounce, shares in the goldminer have taken off.

https://www.thetimes.co.uk/edition/business/goldminer-given-lift-by-rush-for-safety-during-pandemic-zkmzkwrzc

Centamin capitalises on gold price rally

Second quarter trading which beat expectations across the board shows Centamin (CEY) has been able to capitalise on the higher gold price, according to Peel Hunt.

Analyst Tim Huff placed a ‘buy’ recommendation on the gold miner, setting a target price of 185p. The shares rose 2.5% to 192.6p yesterday.

Free cash flow for the second quarter of $56m trounced the broker’s own $19m estimate, driven by production which beat forecasts by 14%, while costs were also 10% lower than expected. That saw the $2.2bn company, whose principal asset is the Sukari mine in Egypt, end the quarter with $367m on its balance sheet.

2020 production guidance was narrowed to the lower half of the previously guided range, but was still in line with market consensus, Huff pointed out.

Monkeys the link to the article as requested, if the link doesn’t work google the article headline
Bol.

Boohoo hits Merian funds as scandal wipes £2bn off value
By Daniel Grote

https://citywire.co.uk/funds-insider/news/boohoo-hits-merian-funds-as-scandal-wipes-2bn-off-value/a1377954?section=funds-insider&_ga=2.256891979.1750578723.1594545791-1929639302.1594545791

Hello Professor Great post, mentioning the dividend reminded me of a post I did a couple of weeks ago covering the possible payment and qualifying dates so if you don’t mind I’ll take the opportunity to repost in case anyone’s interested.
Bol ty again for your contribution’s
Onward and upward!
—————
Interim dividend timetable
This was the interim dividend qualifying and payment dates for 2019, I imagine the 2020 dates will be similar.
EX-DIV DATE: 29 August 2019
RECORD DATE: 30 August 2019
LAST DAY FOR CURRENCY ELECTIONS: 6 September 2019

FX RATE DATE: 9 September 2019
PAYMENT DATE: 27 September 2019

“ Analysts at Jefferies, Numis and Peel Hunt have retained their ‘buy’ ratings on the shares, on price targets of 500p, 515p and 475p respectively. Peel Hunt analyst John Stevenson said the fall in the shares presented a ‘clear buying opportunity’. “

Even though the share price could rise continuously in the coming week today’s response was mute to say the least.
Oh well at least it didn’t fall.

I agree with everything you say. The high street is chaos, I follow Superdry on Instagram and they are pushing woman's clothing but I’m a not so young male so I don’t know how well the clothing push is being received.
It all points to what the male analyst said; clarity.
If Superdry make a press release tomorrow that the market likes. The shares might jump 20% but will still be cheap.
I wouldn’t be afraid to buy just because they’d already moved I’d still take the leap so I can see where the analyst was coming from by saying wait.
If you follow Jade HollandCooper on Instagram you get an idea of where JD is.
Hard work but one rns and it’s game on, or off, what ever the case may be.
As for small market cap it’s like having a fast car and a regular one, both will get you there but one a bit quicker (that’s all)

There’s a report written by a female analyst in February, she more or less endorses what Julian Dunkerton said around the same time, that the turnaround would take two years but added the path would be bumpy.
I personally believe the market doesn’t like the 5—8 weeks delay for the year end results slipped in at the last market update in May. Superdry said the companies auditors needed more time. To me all the auditors up and down the country were working from home and well able to cope with any workload. I think they are using the 5—8 weeks in the hope that the Covid19 situation would have been in the wake and with by then having the retail units all open that they could have talked about recent reassuring sales. It doesn’t bear to think of what the reality could be. I believe that Spain, Italy and France are starved of tourists and so the shops those tourists normally visit will be doing less business than normal.
Another analyst covering Superdry said that he agreed in Julian Dunkerton’s turnaround plan but that he wouldn’t buy into the stock until there was further clarity on the current position. I think the market wants clarity too.

Tiger sir, you could write the CEO’s comments.

“... Remember, this is a debt-free cash-rich unhedged gold miner operating a world class asset with a long life of mine and huge exploration upside whose operations have been unaffected by Covid-19, and which pays a really good dividend.”

At least we have a submission deadline date of September 15th so any publicising of new agreements will come thereafter.

StockMarketWire.com - Mining company Centamin said it was on track to meet annual output guidance after revenue was lifted by increased sales and production in the second quarter of the year.

Revenue rose 54% to US$227m in the quarter on-year as production grew 11% to 130,994 ounces.

The uptick in production was driven by an increase in mill feed head grade and the deferral of planned maintenance programmes from the second quarter to the second half of the year, resulting in more tonnes processed and greater production volumes, the company said.

The company sold 130,745 ounces of gold, a 16% improvement on-year, in line with higher production. Stronger gold price resulted in a 32% increase on-year in the average realised price of gold to US$1,731 per ounce.

The full year production range was narrowed to between 510,000-to-525,000 ounces of gold, while cost guidance was unchanged with cash costs forecasted between US$630-to-680 per ounce produced and all in sustaining cost (AISC) forecasted between US$870-to-920 per ounce sold.

https://www.stockmarketwire.com/article/6999685/Centamin-on-track-to-meet-guidance-revenue-up-54pct-on-higher-gold-output-prices.html

EMRA launched an exploration bid round process at the end of Q1 this year for a series of blocks covering the Eastern Desert in Egypt. This process was initially scheduled to close in mid-July but due to circumstances around COVID-19, EMRA extended the first round submission deadline to 15 September 2020. This is the first bid round under the proposed new tax, rent, royalty framework that will be applied to new applications in the country. It is important to note that the terms of the Concession Agreement on our 160km2 Sukari tenement remains unchanged.

Centamin, with the only commercial gold mine in Egypt, believes there is significant untapped gold resources within the Arabian Nubian Shield, and is currently evaluating the opportunities presented by the current bid round. We look forward to updating our stakeholders in due course.

https://otp.tools.investis.com/clients/uk/centamin_plc/rns/regulatory-story.aspx?cid=1756&newsid=1401845

Major indexes on the European markets traded in the green amid the optimistic news regarding COVID-19 treatment and vaccine. After Gilead Sciences revealed that its drug, remdesivir, curbs the mortality rate among coronavirus patients, the Sechenov First Moscow State Medical University ran a trial of a vaccine made by the Russian Gamalei Institute of Epidemiology and Microbiology and reportedly found the vaccine safe and effective.

The DAX jumped 1.47% at 7:31 am CET, as the FTSE 100 followed suit and gained 1.10% at the same time. The CAC 40 rose 1.28% at 7:30 am CET.

Breaking the News / BU

Major indexes on the European markets traded in the green amid the optimistic news regarding COVID-19 treatment and vaccine. After Gilead Sciences revealed that its drug, remdesivir, curbs the mortality rate among coronavirus patients, the Sechenov First Moscow State Medical University ran a trial of a vaccine made by the Russian Gamalei Institute of Epidemiology and Microbiology and reportedly found the vaccine safe and effective.

The DAX jumped 1.47% at 7:31 am CET, as the FTSE 100 followed suit and gained 1.10% at the same time. The CAC 40 rose 1.28% at 7:30 am CET.

Breaking the News / BU

Major indexes on the European markets traded in the green amid the optimistic news regarding COVID-19 treatment and vaccine. After Gilead Sciences revealed that its drug, remdesivir, curbs the mortality rate among coronavirus patients, the Sechenov First Moscow State Medical University ran a trial of a vaccine made by the Russian Gamalei Institute of Epidemiology and Microbiology and reportedly found the vaccine safe and effective.

The DAX jumped 1.47% at 7:31 am CET, as the FTSE 100 followed suit and gained 1.10% at the same time. The CAC 40 rose 1.28% at 7:30 am CET.

Breaking the News / BU

With the FTSE up over 1% in premarket the stage for a great day couldn’t be set any better, hopefully the results don’t disappoint.
Good luck y’al
Drumroll....