The recently announced merger between Canada’s Teck Resources Ltd (USA) (TSX:TCK) and London-listed Anglo American PLC (LSE:AAL) has sharpened investor interest in South America’s copper sector, amid heightened expectations for long-term supply growth and cost competitiveness.
The all-share merger, described as a union of equals, will create a combined group with a market capitalisation of $50bn, under the proposed name Anglo Teck.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) and Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF) led the charge in London after bullion prices rebounded, with the shares up 5% and 2% respectively.
Larger rivals joined the advance, Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) climbing 4% and Fresnillo PLC (LSE:FRES)adding 3% as silver rose 32 cents to $42.12. Gold itself rallied $10 to $3,654.69 an ounce, reversing Thursday’s decline.
Deutsche Bank expects the Federal Reserve to continue easing through the remainder of the year, projecting two more quarter-point cuts at the October and December meetings.
“We maintain our baseline expectation that the Fed will cut rates by 25bps at each of its next two meetings,” the bank’s US economics team wrote, which would leave the fed funds rate in a 3.5% to 3.75% range by year-end.
Micron Technology Inc (NASDAQ:MU) saw its price target raised by Wedbush analysts to $200 from $165, who see recent developments in the memory market representing a major inflection point, calling it “the week that changed the memory world.”
Wedbush noted that demand trends across key memory and storage products have shifted significantly over the past several weeks.
Nvidia Corp (NASDAQ:NVDA, ETR:NVD)'s newly announced $5 billion investment in Intel Corp (NASDAQ:INTC, ETR:INL), alongside a partnership to co-develop custom data center and PC products, is being described by analysts as a transformative moment for Intel and a pivotal step in the global AI race.
Wedush sees the deal as “a game-changer deal for Intel as it now brings them front and center into the AI game,” while Baird noted the collaboration “validates x86 processors as beneficiaries of GPU-generated AI tokens.”
The Federal Reserve’s rate cut this week comes during atypical economic conditions, UBS strategists pointed out, and so investors may not have a playbook for how to react.
In short, history suggests it should be good for gold, tech, some banking stocks, bad for the dollar, which is good for emerging markets.
Supermarket Income REIT PLC (LSE:SUPR, OTC:SUPIF) looks to have hit a turning point.
Stifel in a note, says the business has “pivoted to accommodate its increased scale”, with management brought in-house, a fresh joint venture set up with Blue Owl and a new bond issue that locks in long-term funding.
Manchester United Plc (NYSE:MANU) shares slumped overnight after telling investors that revenue for the 2026 financial year will be below previous expectations.
The Manchester football club last night reported on the New York Stock Exchange, a record revenue tally of £666.5 million for the year ended 30 June, which was only 0.7% higher than last year, as fourth quarter revenue came in at £164.1 million.
Gold’s climb has already taken it to Deutsche Bank’s old 2026 target of $3,700 an ounce, but the bank thinks the run has further to go.
Its new call is for an average of $4,000 next year, with silver tipped to reach $45 from a previous $40.
Nintendo (OTC:NTDOY, TYO:7974) was downgraded by Wedbush to ‘Neutral’ from ‘Outperform,’ with analysts stating this reflects expectations that Nintendo’s recent gains are already priced in the best-case scenario for Switch 2 hardware and software sales in the coming quarters.
The analysts maintained their price target of ¥14,000, slightly above Nintendo’s current share price of ¥13,535.
JD Sports Fashion PLC (LSE:JD., OTC:JDSPY) will report interim results next Wednesday, 24 September, with analysts expecting the sports and leisure retailer to confirm a fall in profits and to try and keep guidance realistic.
First-half adjusted profit before tax should come in at about £350 million, a decline of around 13% year on year, reckons Shore Capital.
Silver has joined gold in breaking new ground.
Prices have pushed above $42 an ounce, the highest in 14 years, fuelled by record gold levels and heavy investor inflows.
After a bruising year, Novo Nordisk (NYSE:NVO) is back in favour.
Berenberg has upgraded the Danish drugmaker to 'buy', setting a target price of DKK425 against a current DKK359. That offers about 20% upside and, more importantly, signals that Novo is “no longer the elephant in the room” in the obesity debate.
Gold’s climb has already taken it to Deutsche Bank’s old 2026 target of $3,700 an ounce, but the bank thinks the run has further to go. Its new call is for an average of $4,000 next year, with silver tipped to reach $45 from a previous $40.
The bullish case rests on several planks.
Haleon PLC (LSE:HLN, NYSE:HLN) topped the FTSE 100 losers' list after Barclays downgraded the consumer health group from “overweight” to “equal weight” and lowered its price target from 430p to 380p.
The broker said the problem lies in Haleon’s biggest market. The US makes up around a third of group sales but has been hit by slower category growth and retailers running down stock.
Analysts at Wedbush remain bullish on MongoDB Inc (NASDAQ:MDB), raising their price target to $400 from $300 and adding the document database company to its Best Ideas List.
Wedbush reiterated its ‘Outperform’ rating on the company, citing accelerating momentum in enterprise adoption and expanding use cases tied to artificial intelligence.
Wedbush Securities has added Palo Alto Networks Inc (NYSE:PANW, ETR:5AP) to its Best Ideas List, pointing to growing confidence in the cybersecurity company’s platformization strategy and its potential to benefit from increased enterprise adoption of artificial intelligence.
Wedbush reiterated its ‘Outperform rating on the stock and set a 12-month price target of $225, compared with Palo Alto Networks’ closing price of about $196 on Friday.
Tesla Inc (NASDAQ:TSLA) investors should be "relieved" that the company wants to pay CEO Elon Musk ... [dramatic pause to make a Dr Evil Face] ... one trillion dollars.
This is the view of Daniel Ives, analyst at West Coast stockbroker Wedbush, which today repeated an 'Outperform' rating for the electric vehicle pioneer's shares, with a 12-month price target of $500 that suggests some 25% upside to the current market price.
Analysts at City broker Peel Hunt have repeated a 'buy' rating for AFC Energy PLC (AIM:AFC, OTC:AFGYF) as the London-listed hydrogen energy pioneer this morning announced it had bolstered its management team, adding Nick Walker as its new Chief Strategy Officer.
The new exec' brings decades of experience in cleantech and hydrogen technology, garnered from roles across investment research, banking and consulting.