Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. China Evergrande Group
  6. News
  7. Summary
    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

(3333)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

China Evergrande : Copper jumps 4% as markets cheer Evergrande deal

09/22/2021 | 06:18am EDT

LONDON, Sept 22 (Reuters) - Copper prices shot up by nearly 4% on Wednesday on relief that China's debt-burdened Evergrande would pay interest on a domestic bond, easing fears the property giant's troubles might hit the global economy.

Three-month copper on the London Metal Exchange had climbed 3.9% to $9,322 a tonne by 1600 GMT, reversing losses from the previous session when the contract went as low as $8,810 a tonne, its weakest since Aug. 19.

Evergrande agreed to settle interest payments on a domestic bond on Wednesday, while the Chinese central bank injected cash into the banking system.

"That heartened markets for the time being and we're running into some dip buying. Consumers are probably running short of inventory, so these prices may prompt restocking," said independent consultant Robin Bhar.

"I think the consensus is that this is not China's Lehman moment. When it comes to China, everyone owns part of the problem and at the end of the day, it's all part of China PLC. They're not going to let it disrupt the economy."

* Lead was the only LME metal in negative territory, down 0.5% to $2,124 a tonne after touching $2,108.50, the weakest since April. Inventories in Shanghai <PB-STX-SGH> have more than tripled over the past six months to 205,898 tonnes.

The speculative net long position on the LME has slid to 2% of open interest from 12.6% on Sept. 10, broker Marex said in a note.

* LME aluminium climbed 3.1% to $2,935 a tonne, nickel rose 2% to $19,205, zinc advanced 2.1% to $3,041 and tin jumped 4.2% to $35,270.

* A Chilean court handed a reprieve to BHP's Cerro Colorado copper mine, agreeing to suspend a ban on it pumping water from an aquifer for 90 days.

* Peru wants to revise the framework for the country's mining industry, redrafting the umbrella law that regulates the sector, as well as the legislation that sets royalty payments.

* For the top stories in metals and other news, click or ($1 = 6.4666 yuan) (Reporting by Eric Onstad in London and Mai Nguyen in Hanoi; Editing by Mark Potter and Chris Reese)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP -2.16% 37.65 End-of-day quote.-11.27%
CHINA EVERGRANDE GROUP 4.26% 2.69 End-of-day quote.-81.95%
All news about CHINA EVERGRANDE GROUP
10/22Dow posts record closing high, stocks gain for 3rd week; dollar dips
RE
10/22S.Africa's rand set for weekly loss but stocks buck trend
RE
10/22China's troubled property behemoth averts default, signals business shift
RE
10/22FANTASIA : Analysis-Investors denied their Ever-grande finale...for now
RE
10/22WALL STREET STOCK EXCHANGE : Nasdaq takes a hit from Intel and Snap
10/22CHINA EVERGRANDE NEW ENERGY VEHICLE : plans to shift main business to new energy vehicles ..
RE
10/22Powell Imposes Personal-Investing Restrictions on Fed Officials; Turkey's Central Bank ..
DJ
10/22FANTASIA : Evergrande averting default to do little to revive China property bond sales
RE
10/22CHINA EVERGRANDE : Factbox-China's indebted property market and the Evergrande crisis
RE
10/22STOXX EUROPE 600 : European Bourses Higher Midday on China Property Outlook; Tech Sector G..
MT
More news
Analyst Recommendations on CHINA EVERGRANDE GROUP
More recommendations
Financials
Sales 2021 547 B 70 415 M 70 415 M
Net income 2021 2 419 M 311 M 311 M
Net Debt 2021 354 B 45 488 M 45 488 M
P/E ratio 2021 14,7x
Yield 2021 1,41%
Capitalization 35 511 M 4 568 M 4 569 M
EV / Sales 2021 0,71x
EV / Sales 2022 0,47x
Nbr of Employees 163 119
Free-Float 18,6%
Chart CHINA EVERGRANDE GROUP
Duration : Period :
China Evergrande Group Technical Analysis Chart | 3333 | KYG2119W1069 | MarketScreener
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Last Close Price 2,69 HKD
Average target price 11,13 HKD
Spread / Average Target 314%
EPS Revisions
Managers and Directors
Hai Jun Xia Vice Chairman & Chief Executive Officer
Shou Ming Shi President
Da Rong Pan Chief Financial Officer & Executive Director
Ka Yan Hui Chairman
Dong Feng Chen Head-Information
Sector and Competitors
1st jan.Capi. (M$)
CHINA EVERGRANDE GROUP-81.95%4 568
CHINA VANKE CO., LTD.-25.68%36 752
VONOVIA SE-9.54%35 984
DEUTSCHE WOHNEN SE20.26%21 195
VINHOMES JOINT STOCK COMPANY13.30%14 892
VINGROUP JOINT STOCK COMPANY-4.55%14 788