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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Treasury Wine Estates Limited    TWE   AU000000TWE9

TREASURY WINE ESTATES LIMITED

(TWE)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 01/25
9.31 AUD   -0.11%
2020TREASURY WINE ESTATES : Appendix 3Y - Change of Director's Interest Notice
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2020TREASURY WINE ESTATES : TWE 2020 Fact Book
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2020TREASURY WINE ESTATES : ASX Appendix 3G
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Stocks reach records; dollar settles lower

11/27/2020 | 08:38am EST

* Highly anticipated vaccine facing more scrutiny

* Equity markets ready for record highs

* U.S. markets on shortened hours after Thanksgiving holiday

* Graphic: 2020 asset performance http://tmsnrt.rs/2yaDPgn

* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh

LONDON, Nov 27 (Reuters) - World stocks remained on course for their best month ever on Friday as recent vaccine progress, Joe Biden's U.S. presidential election win, hopes for further stimulus, a commodity surge and descending dollar all lifted the spirits.

European markets felt a touch of caution as questions emerged over trial data on AstraZeneca's COVID-19 vaccine and Poland threatened to veto the new EU budget , but that wasn't enough to derail November's gains .

German, French, Italian and Spanish stocks all gained and government bond yields stayed low after the European Central Bank reinforced expectations of further stimulus next month and Sweden's Riksbank made a surprise increase to its quantitative-easing programme.

London's FTSE was lower all morning amid some last-minute Brexit nerves, but with Wall Street pointing to a post-Thanksgiving rise, MSCI's main world index was readying for another record high.

"Risk sentiment is in reasonable nick because we've got vaccines and easy money," said Societe Generale strategist Kit Juckes. "That is the underpinning of optimism."

It wasn't all good news. Australian shares ended down 0.5% -- Treasury Wine Estates was whacked 11.25% as China imposed new tariffs on Australian wine, the latest move in the countries' long-running trade row.

Chinese shares still rose 0.1% after data there showed industrial profits surged at the fastest pace since early 2017. South Korean stocks and Japan's Nikkei both rose 0.3%.

British drugmaker AstraZeneca's coronavirus drug was touted as a "vaccine for the world" due to its low cost, but the efficacy of the vaccine is now facing more scrutiny, which experts say could delay its approval.

Several scientists have raised doubts about the robustness of results showing the shot was 90% effective in a sub-group of trial participants who, by error initially, received a half dose followed by a full dose.

"With global (coronavirus) case numbers having now topped 60 million ... there is certainly some rough terrain ahead for the global recovery, and that can create economic scarring," analysts at ANZ Bank wrote in a memo.

On Brexit, the European Union and Britain said substantial differences remained over a Brexit trade deal, as the EU chief negotiator prepared to travel to London in a last-ditch attempt to avoid a tumultuous finale to the five-year crisis.

Sterling, which has climbed 4% against the dollar this month and the same against the euro since September, trimmed 0.3% against both to sit at $1.3329 and 89.50 pence pre euro.

"Clearly, there are substantial and important differences still to be bridged, but we're getting on with it," British Prime Minister Boris Johnson told reporters. EU chief negotiator Michel Barnier tweeted "Same significant divergences persist".

VIRUS VS VACCINE

U.S. stock index futures edged higher as optimism around an economic rebound next year outweighed concern over an expected surge in coronavirus infections during the Thanksgiving holiday.

U.S. hospitalizations for COVID-19 are at a record and experts warn that gatherings could lead to further infections and deaths.

More than 20 million people across England will be forced to live under the toughest restrictions even after a national lockdown ends on Dec. 2. Partial lockdowns in some European countries have also raised concern about economic growth.

The European Central Bank's chief economist highlighted these concerns, saying there were "some worrying signals" in financing conditions in Europe for small and medium-sized enterprises, which pushed European bond yields lower.

German 10-year Bund yields traded near two-week lows on Friday, while Portugal's 10-year government bond yields touched zero for the first time.

The euro, which last bought $1.1924, showed little reaction because currency traders have largely priced in expectations for additional ECB easing next month.

The dollar, which has fallen more than 2.2% so far this month as global sentiment has surged, lessening demand for the safe-haven currency, was near its lowest in nearly three months.

"Surely euro-dollar can't break through $1.20 without good news on the (Brexit) trade deal," Societe Generale's Juckes said.

The yield on benchmark 10-year Treasury notes fell to 0.8586% as some investors sought the safety of holding government debt.

In commodity markets, copper, a gauge of global economic sentiment because of its use in infrastructure, hit a near seven-and-a-month high. Oil, though up nearly 30% this month, dipped overnight on oversupply concerns, but Brent recovered in London to rise to $48 per barrel.

Bitcoin, the world's biggest cryptocurrency, steadied at $17,060 after tumbling 8.4% in the previous session, having failed to take out its record high of $19,666.

The cryptocurrency showed little reaction to a report in the Financial Times that Facebook will introduce its own Libra digital currency in limited format next year.

Bitcoin has rallied around 140% this year, fuelled by demand for riskier assets.

(Additional reporting by Stanley White in Tokyo; editing by Jan Harvey, Larry KingS)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC 0.70% 7952 Delayed Quote.7.82%
BITCOIN - EURO -0.67% 26480.61 Real-time Quote.12.92%
BITCOIN - UNITED STATES DOLLAR -0.55% 32181.77 Real-time Quote.12.01%
EURO / BRITISH POUND (EUR/GBP) -0.34% 0.88517 Delayed Quote.-0.49%
EURO / US DOLLAR (EUR/USD) 0.09% 1.21529 Delayed Quote.-0.59%
FACEBOOK INC 1.61% 282.29 Delayed Quote.1.78%
LONDON BRENT OIL -0.07% 55.88 Delayed Quote.7.08%
NIKKEI 225 -0.96% 28546.18 Real-time Quote.5.02%
TREASURY WINE ESTATES LIMITED -0.11% 9.31 End-of-day quote.-0.96%
WTI -0.50% 52.55 Delayed Quote.8.49%
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Financials
Sales 2021 2 511 M 1 944 M 1 944 M
Net income 2021 249 M 193 M 193 M
Net Debt 2021 1 532 M 1 186 M 1 186 M
P/E ratio 2021 26,7x
Yield 2021 2,55%
Capitalization 6 716 M 5 200 M 5 198 M
EV / Sales 2021 3,28x
EV / Sales 2022 3,33x
Nbr of Employees 3 000
Free-Float 99,5%
Chart TREASURY WINE ESTATES LIMITED
Duration : Period :
Treasury Wine Estates Limited Technical Analysis Chart | TWE | AU000000TWE9 | MarketScreener
Technical analysis trends TREASURY WINE ESTATES LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 10,33 AUD
Last Close Price 9,31 AUD
Spread / Highest target 58,1%
Spread / Average Target 11,0%
Spread / Lowest Target -14,1%
EPS Revisions
Managers and Directors
NameTitle
Tim Ford Chief Executive Officer, Director & MD
Paul Ashley Rayner Chairman
Matthew Young Chief Financial Officer
Warwick Lynton Every-Burns Independent Non-Executive Director
Garry Arthur Hounsell Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
TREASURY WINE ESTATES LIMITED-0.96%5 169
VIÑA CONCHA Y TORO S.A.-1.60%1 238
DELEGAT GROUP LIMITED-2.96%1 072
C&C GROUP PLC1.76%978
LAURENT-PERRIER1.33%546
ITALIAN WINE BRANDS S.P.A.12.98%210