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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  AstraZeneca PLC    AZN   GB0009895292

ASTRAZENECA PLC

(AZN)
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Copper heads towards 7-year high on vaccine hopes

11/25/2020 | 09:57pm EST

Nov 26 (Reuters) - London copper prices climbed towards a seven-year high on Thursday, as positive COVID-19 vaccine developments raised hopes for a recovery in global economy soon.

Three-month copper on the London Metal Exchange advanced 1.2% to $7,384 a tonne by 0236 GMT, having hit $7,388 a tonne earlier in the session, the highest since Jan. 3, 2014.

The most-traded January copper contract on the Shanghai Futures Exchange rose to a 34-month high at 55,220 yuan ($8,408.45) a tonne.

AstraZeneca, Pfizer-BioNTech, and Moderna have all reported positive results in their coronavirus vaccine trials, fuelling hopes for a swift economic recovery.

FUNDAMENTALS

* The speculative net long in LME copper rose to 18% of open interest on Monday, close to this year's high of 18.1% on July 13, and rising from 5.2% at the start of the month, Marex Spectron's analytics data showed.

* LME aluminium rose 0.5% to $1,980 a tonne and nickel advanced 0.5% to $16,145 a tonne. In Shanghai, nickel eased 0.7% to 119,640 yuan a tonne.

* A surge in the use of scrap metal due to strict environmental policies could slash global demand for primary aluminium by almost half and cut demand for primary copper and iron by more than a third by 2040, Wood Mackenzie said.

* The price difference between three-month aluminium contracts on the ShFE and LME hit $136.6 a tonne, the highest level since February 2014.

* For the top stories in metals and other news, click or

MARKETS NEWS

* Asian shares dipped slightly as the hot run up in global markets took a breather, with investors switching their focus from vaccine hopes to disappointing U.S. jobs data and new COVID-19 lockdowns.

DATA/EVENTS AHEAD (GMT)

0700 Germany GfK Consumer Sentiment Dec

0745 France Consumer Confidence Nov

($1 = 6.5672 yuan) (Reporting by Mai Nguyen; Editing by Vinay Dwivedi)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC -0.01% 7609 Delayed Quote.3.66%
BIONTECH SE -4.02% 101.59 Delayed Quote.24.62%
PFIZER INC. -0.14% 36.7 Delayed Quote.-0.30%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.13% 6.48886 Delayed Quote.-0.35%
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Financials (USD)
Sales 2020 26 400 M - -
Net income 2020 2 992 M - -
Net Debt 2020 13 217 M - -
P/E ratio 2020 43,0x
Yield 2020 2,73%
Capitalization 135 B 135 B -
EV / Sales 2020 5,63x
EV / Sales 2021 4,89x
Nbr of Employees 70 600
Free-Float 95,7%
Chart ASTRAZENECA PLC
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AstraZeneca PLC Technical Analysis Chart | AZN | GB0009895292 | MarketScreener
Technical analysis trends ASTRAZENECA PLC
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Average target price 126,21 $
Last Close Price 103,14 $
Spread / Highest target 51,3%
Spread / Average Target 22,4%
Spread / Lowest Target -18,5%
EPS Revisions
Managers and Directors
NameTitle
Pascal Soriot Chief Executive Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Pam P. Cheng Executive VP-Operations & Information Technology
Marc Pierre Jean Dunoyer Chief Financial Officer & Executive Director
Menelas N. Pangalos EVP-Biopharmaceuticals Research & Development
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