Anglo American PLC (LSE:AAL), one of the world's largest mining companies, is poised to begin a massive restructuring with the divestment of its metallurgical coal (met coal) assets following a rebuffed £39 billion bid approach from rival BHP Ltd.
According to a detailed analysis by Jefferies, this move is stage one in a process that will also see the disposal of Anglo American Platinum (Amplats) and De Beers.
What was supposed to be a stellar day for GSK PLC (LSE:GSK, NYSE:GSK) at the annual American Society of Clinical Oncology turned into quite the opposite.
News of an adverse ruling in a Delaware court affecting long-running litigation over Zantac, the heartburn tablet linked cancer, overshadowed what was a very bullish read-out from a trial of its Blenrep drug in people suffering multiple myeloma.
Contrary to reports, the UK does have a listed technology sector, says broker Liberum, which has run the rule over the constituents and come up with its best bets.
Liberum said the technology is growing relative to GDP but the listed UK sector lacks scale, accounting for just 1% of the FTSE 350 compared to 30% of the S&P 500 and 10% of the S&P 1000.
Sirius Real Estate Limited (LSE:SRE, JSE:SRE, OTC:SRRLF)’s full-year results have received a warm reception from City analysts.
Following the results, broker Panmure Gordon said it was “positive on future management actions driving upgrades to our medium-term sustainable earnings forecast” of €120 million.
Mike Ashley’s Frasers Group PLC (LSE:FRAS) is on the cusp of agreeing to a strategic partnership with XXL ASA, the Norwegian sporting goods retailer, to help boost its position in the Nordic region.
Frasers, which owns more than 30% of XXL’s class A shares, said it is aiming to use its brand elevation strategy to help the Oslo-listed company strengthen its Nordic market leadership.
DS Smith PLC (LSE:SMDS) is set to release its full-year earnings on 20 June, with analysts at Jefferies forecasting an EBITA of £696 million, largely in line with the consensus estimate of £699 million.
Jefferies noted that DS Smith is currently trading at a 19% discount to the implied 455p-per-share value based on a potential combination with International Paper (IP).
National Grid PLC (LSE:NG.) has been upgraded by brokers as they continue to see positive upsides from the upcoming election, the improved balance sheet and an “attractive valuation”.
Analysts at Citi upgraded its rating of National Grid to ‘buy’ and lifted the utility firm’s price target from 920p to 985p – representing more than a 9% premium to its current market value.
UBS has raised its year-end forecast for one of the most tracked and invested global stock market indexes, implying 6% upside potential from current levels.
The MSCI All Country World index prediction was lifted to 830 from 800 on Tuesday by the equity strategists at the Swiss bank, citing seven key reasons.
Reaction to AstraZeneca PLC (LSE:AZN)'s presentations at the annual American Society of Clinical Oncology conference was broadly positive following of sessions with analysts and clinicians.
Eye-catching was the claim around Tagrisso, which was hailed as "practice changing" when administered to lung cancer with a certain mutation of the disease. Data showed a greater than 80% chance the disease would not progress. AZ also provided updated results for Enhertu, for breast cancer.
Carnival PLC (LSE:CCL) shares rose 4.5% on Tuesday to top the FTSE 350 leaderboard after the shares were upgraded by Peel Hunt.
The broker moved its recommendation to 'buy' from 'add' for the cruise opeator, with a new target price of 1,300p up from 1,100p.