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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Anglo American plc    AAL   GB00B1XZS820


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European shares power ahead as first quarter earnings season gathers pace, HSBC jumps

05/04/2017 | 05:27am EST
Traders work in front of the German share price index, DAX board, at the stock exchange in Frankfurt

LONDON (Reuters) - A flurry of well-received earnings updates boosted European shares on Thursday, with positive numbers from HSBC supporting financials while oil stocks also rose.

The pan-European STOXX 600 index was up 0.3 percent, holding near 20-month highs, while Germany's benchmark DAX index rose 0.7 percent to hit a fresh all-time high.

European banks were top gainers, rising 1.3 percent after lender HSBC jumped more than 3 percent. HSBC posted a better-than-expected first-quarter profit and capital position.

"Overall we view this as a positive set of results ... with potential to place upward on our own and consensus forecasts," Gary Greenwood, analyst at Shore Capital Markets, said in a note.

Likewise a decision by the U.S. Federal Reserve to keep interest rates on hold also helped the sector, as banks benefit from a higher interest rate environment.

Oil & gas stocks were also firmer, up 0.9 percent following robust updates from both Statoil and Royal Dutch Shell, which both rose 2.4 percent.

"We have seen a sharp recovery in profits and strong cash flow from Royal Dutch Shell this quarter," said Simon Gergel, UK equities CIO at Allianz Global Investors.

"The company has generated sufficient cash to cover capital expenditure and the full cost of dividends ... This provides further reassurance about the benefits of the BG deal to the group’s cash flow and the sustainability of the company’s dividends.”

Results also boosted shares in brewer AB InBev and Austrian engineer Andritz, which were among top STOXX 600 gainers.

European autos was another bright spot, with the sector gaining 0.9 percent, led by a 2.2 jump in Rheinmetall after the German defence and automotive group reported a 61 percent rise in first quarter earnings.

Swedish biometric firm Fingerprint Cards was the biggest STOXX faller, however, sinking more than 12 percent after an underwhelming first quarter report.

Fingerprint's operating profit slumped 88 percent, coming in well below expectations, weighed down by excess inventories.

British retailer Next was also under pressure, dropping almost 6 percent after cutting the top end of its full-year profit guidance.

On a sectoral level, European mining firms saw some weakness as copper, aluminium and gold prices sagged, weighing on shares of aluminium producer Norsk Hydro, Centamin and Anglo American.

Overall, the macro picture is looking brighter for Europe - a survey showed that euro zone businesses began the second quarter by turning out their best performance in six years.

Likewise the first quarter earnings season has been strong for European firms so far, 43 percent of which have reported figures. Of those firms, around 74 percent have beaten earnings expectations, while 82 percent have beaten on revenue according to Thomson Reuters data.

(Reporting by Kit Rees, Editing by Helen Reid and Jon Boyle)

By Kit Rees

© Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
ANDRITZ AG -0.30% 33.54 End-of-day quote.-12.66%
ANGLO AMERICAN PLC 5.60% 2311.5 Delayed Quote.0.74%
BEST INC. 12.08% 2.97 Delayed Quote.-52.34%
CENTAMIN PLC -1.66% 106.55 Delayed Quote.-14.69%
DAX 1.26% 13292.44 Delayed Quote.-0.92%
EQUINOR ASA 5.24% 148.65 Delayed Quote.-19.52%
GOLD -1.61% 1805.79 Delayed Quote.23.38%
HSBC HOLDINGS PLC 4.08% 399.65 Delayed Quote.-35.12%
LETS HOLDINGS GROUP CO., LTD. 4.28% 9.26 End-of-day quote.53.31%
LOOK HOLDINGS INCORPORATED 0.49% 1027 End-of-day quote.-17.97%
NEXT PLC 1.98% 6808 Delayed Quote.-4.87%
NORSK HYDRO ASA 4.50% 37.63 Delayed Quote.10.32%
RISE, INC. 0.00% 24 End-of-day quote.-20.00%
STOXX EUROPE 600 0.91% 392.39 Delayed Quote.-6.49%
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Financials (USD)
Sales 2020 27 250 M - -
Net income 2020 2 412 M - -
Net Debt 2020 6 387 M - -
P/E ratio 2020 11,7x
Yield 2020 3,71%
Capitalization 28 526 M 38 091 M -
EV / Sales 2020 1,28x
EV / Sales 2021 1,11x
Nbr of Employees 60 000
Free-Float 89,4%
Duration : Period :
Anglo American plc Technical Analysis Chart | AAL | GB00B1XZS820 | MarketScreener
Technical analysis trends ANGLO AMERICAN PLC
Short TermMid-TermLong Term
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Mean consensus OUTPERFORM
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Average target price 31,10 $
Last Close Price 23,12 $
Spread / Highest target 61,0%
Spread / Average Target 34,5%
Spread / Lowest Target 1,46%
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Mark Cutifani Chief Executive Officer & Executive Director
Stuart John Chambers Chairman
Stephen Thomas Pearce Finance Director & Executive Director
Anthony Martin O'Neill Executive Director & Group Technical Director
Anne L. Stevens Independent Non-Executive Director
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