Investing.com – U.K. stocks were higher after the close on Thursday, as gains in the Electronic & Electrical Equipment, Aerospace & Defense and Insurance sectors led shares...
Investing.com – U.K. stocks were higher after the close on Thursday, as gains in the Electronic & Electrical Equipment, Aerospace & Defense and Insurance sectors led shares higher.
At the close in London, the Investing.com United Kingdom 100 rose 0.82%.
The best performers of the session on the Investing.com United Kingdom 100 were Halma PLC (LON:HLMA), which rose 5.72% or 143.00 points to trade at 2,645.00 at the close. Meanwhile, Smurfit WestRock PLC (LON:SWR) added 4.71% or 198.00 points to end at 4,400.00 and Beazley PLC (LON:BEZG) was up 3.61% or 27.00 points to 776.00 in late trade.
The worst performers of the session were JD Sports Fashion PLC (LON:JD), which fell 15.50% or 17.51 points to trade at 95.44 at the close. Vodafone Group PLC (LON:VOD) declined 3.31% or 2.36 points to end at 68.88 and National Grid PLC (LON:NG) was down 1.89% or 18.60 points to 964.00.
Rising stocks outnumbered declining ones on the London Stock Exchange by 921 to 909 and 620 ended unchanged.
Shares in JD Sports Fashion PLC (LON:JD) fell to 52-week lows; losing 15.50% or 17.51 to 95.44. Shares in Smurfit WestRock PLC (LON:SWR) rose to all time highs; rising 4.71% or 198.00 to 4,400.00.
Gold Futures for December delivery was up 0.54% or 14.35 to $2,666.05 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 1.27% or 0.87 to hit $69.62 a barrel, while the January Brent oil contract rose 1.19% or 0.87 to trade at $73.68 a barrel.
GBP/USD was down 0.53% to 1.26, while EUR/GBP unchanged 0.13% to 0.83.
The US Dollar Index Futures was up 0.39% at 107.03.
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European stocks mixed; earnings, regional sentiment data in focus
Investing.com -- European markets traded in a mixed fashion Thursday, as investors digested regional confidence data while geopolitical tensions weighed on overall market sentiment.
At 07:10 ET (12:10 GMT) Germany’s DAX index rose 0.5%, the UK’s FTSE 100 gained 0.4%, while France’s CAC 40 fell 0.1%.
Business confidence rises in Europe
Data released earlier Thursday showed rising confidence in the eurozone's second-largest economy, as France’s business climate index rose to 97 in November, an increase from the revised 93 the previous month, and above the 95 expected.
Additionally, British manufacturers expect their output to grow after a recent slump, the Confederation of British Industry said on Thursday, with is monthly industrial trends survey showing output expectations for the next three months improved to +9 in November from -1 in October, the highest since August.
Nvidia guidance weighs
A disappointing revenue forecast from AI bellwether Nvidia (NASDAQ:NVDA) weighed on European chip shares, with ASML (AS:ASML), Infineon (ETR:IFXGn) and ASM International (AS:ASMI) broadly lower.
Elsewhere, JD Sports Fashion (LON:JD) stock slid 14% after the sportswear retailer warned that its annual profit would come in at the low end of its guided range.
Soitec (EPA:SOIT) (EPA:SOIT) stock climbed 12% after the French semiconductor materials supplier delivered a reassuring set of first-half fiscal 2025 results and reiterated its full-year guidance.
Novartis (SIX:NOVN) stock rose 0.5% after the Swiss drugmaker raised its growth guidance, indicating optimism about its mid-term performance, while Zurich Insurance (SIX:ZURN) rose 2.8% after the company's upbeat three-year targets.
Halma (LON:HLMA) rose 7.5%, as the health and safety device maker reported its half-year results.
Geopolitical and monetary policy risks weigh
Beyond corporate earnings, investor attention will also be drawn to geopolitical developments and central bank policies.
ECB policy maker François Villeroy de Galhau’s remarks on tariff impacts and monetary policy flexibility offer critical insights for assessing inflationary pressures and trade risks in Europe.
Meanwhile, the U.S. manufacturing outlook and potential tariff hikes under the incoming Trump administration remain key considerations for global market sentiment.
Oil gains on escalating Russia-Ukraine tensions
Crude oil prices rose Thursday, driven by escalating geopolitical tensions stemming from the ongoing conflict between Russia and Ukraine.
By 07:10 ET, Brent crude rose by 2% to $74.23 per barrel, while U.S. crude (WTI) was up 2.1% to $70.21 per barrel.
The heightened fears of a potential escalation in hostilities overshadowed the impact of rising U.S. crude inventory levels reported in recent days.
(Navamya Acharya contributed to this article.)
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Asian Equities Traded in the US as American Depositary Receipts Rise in Wednesday Trading
Asian equities traded in the US as American depositary receipts were trending higher Wednesday morning, rising 1% to 1,985.24 on the S&P Asia 50 ADR Index.
From North Asia, the gainers were led by online discount retailer Vipshop (VIPS) and utilities company Korea Electric Power (KEP), which climbed 7.1% and 5.2% respectively. They were followed by education company Four Seasons Education and property technology company Fangdd Network Group , which rose 4.7% and 4.6% respectively.
The decliners from North Asia were led by ecommerce company JD.com and mobile big data platform Aurora Mobile , which dropped 5.8% and 3.6% respectively. They were followed by media company Phoenix New Media and pet-focused platform Boqii , which lost 2.8% and 1.6% respectively.
From South Asia, the gainers were led by tech conglomerate Sea and IT firm Wipro , which increased 1.5% and 0.8% respectively. They were followed by IT company Infosys and pharmaceutical company Dr. Reddy's Laboratories , which were up 0.7% and 0.5% respectively.
The decliners from South Asia were led by IT firm Sify Technologies , which fell 3.9%, followed by telecommunications operators Telekomunikasi Indonesia and PLDT , which were off 0.7% and 0.1% respectively.
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Asian Equities Traded in the US as American Depositary Receipts Fall Sharply in Tuesday Trading
Asian equities traded in the US as American depositary receipts were moving sharply lower Tuesday morning, falling 1.29% to 1,971.48 on the S&P Asia 50 ADR Index.
From North Asia, the gainers were led by automotive ecommerce platform Cango and financial services company Dunxin Financial , which climbed 6.6% and 6.5% respectively. They were followed by solar project developer Emeren Group and media company Phoenix New Media , which increased 5.6% and 4.3% respectively.
The decliners from North Asia were led by online discount retailer Vipshop and video streaming service iQIYI , which fell 14.4% and 5.3% respectively. They were followed by ecommerce company JD.com and diagnostic imaging centers company Concord Medical Services , which were down 4.1% and 3.8% respectively.
From South Asia, the gainers were led by pharmaceutical company Dr. Reddy's Laboratories , which increased 0.5%, followed by IT firm Wipro and telecommunications operator Telekomunikasi Indonesia , which rose 0.2% each respectively.
The decliners from South Asia were led by tech conglomerate Sea and IT firm Sify Technologies , which lost 1.3% and 0.9% respectively. They were followed by financial services company ICICI Bank and telecommunications operator PLDT , which were off 0.5% each respectively.
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H&R Block Posts Upbeat Earnings, Joins Alibaba Group, CI&T And Other Big Stocks Moving Higher On Friday
U.S. stocks were mixed, with the Dow Jones index falling around 0.1% on Friday.
Shares of H&R Block, Inc. rose sharply during Friday's session after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance above estimates.
H&R Block reported quarterly earnings of $1.89 per share which beat the analyst consensus estimate of $1.74. The company reported quarterly sales of $1.063 billion which beat the analyst consensus estimate of $1.028 billion.
Also, the company announced a quarterly dividend increase and $1.5 billion share repurchase authorization.
H&R Block shares jumped 16.4% to $66.73 on Friday.
Here are some other big stocks recording gains in today's session.
Emergent BioSolutions Inc. shares jumped 25% to $10.82. Shares of vaccine and mpox-related stocks traded higher after the WHO declared it a global health emergency.
AST SpaceMobile, Inc. surged 16.4% to $36.52. AST SpaceMobile recently said its first five commercial satellites are on target for orbital launch in the first half of September.
Rocket Lab USA, Inc. gained 16% to $6.76. Today, the company said it has successfully packed and shipped two Mars-bound spacecraft to Cape Canaveral, FL, in readiness for launch.
Planet Labs PBC gained 16% to $2.520 after the company announced that its first hyperspectral satellite, Tanager-1, along with 36 SuperDoves (Flock 4BE), will launch on the Transporter-11 rideshare mission with SpaceX on August 16.
Jumia Technologies AG rose 14.8% to $5.63. Jumia announced completion of at-the-market offering.
Polestar Automotive Holding UK PLC gained 14.6% to $0.8482. Cantor Fitzgerald analyst Andres Sheppard reiterated Polestar Automotive with an Overweight and maintained a $3 price target.
SIGA Technologies, Inc. gained 14.6% to $11.01.
Ambipar Emergency Response climbed 10.5% to $5.99.
Treace Medical Concepts, Inc. rose 9.2% to $6.53.
CI&T Inc. shares gained 7.4% to $7.25 after the company reported better-than-expected second-quarter financial results.
Cellebrite DI Ltd. rose 6.7% to $15.96. Cellebrite, on Thursday, reported better-than-expected second-quarter financial results and raised its FY24 revenue guidance above estimates.
JD.com, Inc. gained 5.5% to $28.51.
Alibaba Group Holding Limited rose 4.9% to $83.44 after multiple analysts raised their price targets on the stock following Thursday’s earnings report.
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3 Mining Stocks Under $10 to Invest in Gold Like a Billionaire
Gold (GCZ24) has long been a go-to investment for those looking to protect their wealth from economic ups and downs. And with prices hovering around $2,470 per ounce, up 14.5% YTD, it's clear why. Analysts think it could even hit $3,000 before too long, and expected rate cuts are likely to add support as the U.S. dollar softens. It's no wonder investors are turning to gold mining stocks to get in on the action.
Billionaire John Paulson, who famously predicted the housing market crash in 2008, is one of them. He's got a stake in three gold mining stocks trading under $10: Equinox Gold Corp , NovaGold Resources Inc. , and Perpetua Resources Corp . Along with the billionaire's seal of approval, these stocks have “buy” ratings from analysts and are trading below their average price targets, making them a tempting opportunity for investors who want to follow in Paulson's footsteps.
So, are these under-$10 gold stocks a good fit for your portfolio? Let's take a closer look to find out.
1. Equinox Gold Corp (EQX)
Equinox Gold Corp is a Canadian gold producer on the rise. It boasts a diverse portfolio of eight operating mines across the Americas. The company's game plan is to acquire, explore, and develop gold properties, aiming to boost production through both organic growth and strategic buys.
Over the past year, EQX has lagged gold's gains, up just 2.7% in the last 52 weeks, and 1.8% YTD.
Barchart
With a market cap of $1.99 billion, EQX's forward P/E ratio of 12.18 hints at potential undervaluation. EQX doesn't pay dividends, focusing instead on growth and reinvestment.
In Q1 2024, Equinox Gold had mixed financial results. They reported $11.4 million in income from mine operations, but faced a net loss of $42.8 million, or $0.13 per share. Adjusted EBITDA was $52.2 million, and cash flow from operations before working capital changes was $47.7 million. Capital expenditures included $44.6 million in sustaining and $69.3 million in non-sustaining investments, highlighting their commitment to growth and improvements.
A big move for Equinox was completing the acquisition of the remaining 40% stake in Greenstone Gold Mine GP Inc. from Orion Mine Finance Management LP. This gives them full ownership of the Greenstone Mine in Ontario, Canada, potentially boosting production. To fund this, they secured a $500 million three-year term loan, showing their knack for accessing growth capital.
Analysts are generally positive on EQX, with a consensus "Moderate Buy" rating. Out of 9 analysts, 4 recommend a “strong buy,” one suggests a “moderate buy,” and four advise a “hold.”
The mean target price of $7.56 suggests a 51.8% upside from the current price, reflecting confidence in Equinox Gold's growth prospects. With plans to nearly double gold production, EQX is a promising under-$10 stock.
2. NovaGold Resources Inc. (NG)
NovaGold Resources Inc. is all about exploring and developing its flagship Donlin Gold project in Alaska, one of the safest places for mining. Partnered equally with Barrick Gold Corporation , NovaGold aims to responsibly and sustainably develop this massive gold deposit, which holds about 39 million ounces of gold.
The stock has been on quite the wild ride over the past year, and is currently up 106.7% over the last 52 weeks, and 48.6% YTD. NG is valued at $1.38 billion by market cap.
Barchart
In Q2 2024, NovaGold reported a net loss of $13.7 million. However, the financials are still strong, with nearly $53 million in cash and $60 million in term deposits. The company plans to spend around $31 million this year, with $14 million earmarked for the Donlin Gold project.
NovaGold is also making strides in community partnerships in the Yukon-Kuskokwim (Y-K) region. They've finalized their 17th Shared Values Statement and held their third Subsistence Community Advisory Committee meeting in Aniak.
They're planning projects to monitor and enhance salmon populations, showing their commitment to environmental stewardship and social responsibility. This dedication to responsible mining could smooth out the permitting process and boost their reputation.
Analysts are optimistic about NovaGold, with 1 recommending a “strong buy” and 2 suggesting “hold.” The consensus is a “moderate buy,” with a mean target price of $6.70, offering a 61% upside from the current price.
John Paulson's firm holds 22 million shares, valued at about $82 million, making him one of the most prominent stakeholders. With such a significant investment from a seasoned billionaire, NovaGold looks like a compelling opportunity for those eyeing North America's gold fields.
3. Perpetua Resources Corp (PPTA)
Perpetua Resources Corp is making waves in the mining industry with its Stibnite Gold Project in Idaho, USA. This project aims to restore an abandoned mine site while producing both gold and critical minerals like antimony, essential for a low-carbon future.
The stock has been quite the performer, delivering a 71.6% gain over the past 52 weeks. In 2024 alone, it's up a whopping 83%. The company has a market cap of $375 million.
Barchart
In Q1 2024, Perpetua reported a loss of 5 cents per share, missing estimates by a cent. They haven't generated revenue yet, as they're still advancing the Stibnite project through permitting.
However, they've made significant strides in securing funding, including conditional approval for $34.6 million in additional funding and potential debt financing of up to $1.8 billion from the Export-Import Bank of the United States. They also secured $8.5 million from Franco-Nevada Idaho Corporation through a new royalty agreement.
Stay tuned for another update on PPTA's financials when the company issues its next quarterly update, expected later this week.
Analysts are optimistic about Perpetua Resources, with all 3 in coverage recommending a “strong buy.”
HC Wainwright & Co. recently raised their price target to $13.25, and Roth MKM to $10. The mean target price for PPTA is now $12.75, suggesting a massive 119.8% upside. John Paulson’s $103 million investment in Perpetua highlights the potential he sees in this dual-focused mining company.
Conclusion
Investing in gold mining stocks like Equinox Gold Corp, NovaGold Resources Inc., and Perpetua Resources Corp offers a unique opportunity to tap into the potential of the gold market while benefiting from the strategic insights of a billionaire investor, like John Paulson. These stocks, all trading under $10, not only provide a chance to invest in a rock-solid asset, but also come with promising growth prospects and solid fundamentals.
On the date of publication, Ebube Jones did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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Novagold Resources Inc. Cut to Sector Perform From Outperform by National Bank
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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