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Research Tree provides access to ongoing research coverage, media content and regulatory news on XTRACT RESOURCES PLC. We currently have 25 research reports from 2 professional analysts.

Open
0.02
Volume
673.6m
Range
0.02/0.02
Market Cap
6m
52 Week
0.01/0.21
Date Source Announcement
28Mar17 15:19 RNS Auroch Loan Note Conversion
14Mar17 11:02 RNS Holding(s) in Company
14Mar17 09:35 RNS Total Voting Rights
13Mar17 13:29 RNS Result of Meeting
10Mar17 12:36 RNS Auroch loan note conversion, TVR
07Mar17 17:56 RNS Holding(s) in Company
06Mar17 17:52 RNS Holding(s) in Company
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Breakfast Today

  • 01 Mar 17

Short on the detail. In fact, it was mostly a rendition of the what we have all heard before. President Trump’s inaugural address to the joint-session of Congress left many more questions than answers. While reasonably expansive regarding replacement of Obamacare, his unifying statements again broadly covered a ‘renewal of the American spirit’, economic nationalism, jump-starting momentum and that America had at last started to ‘drain the swamp’; a repeat of his ambitions to reduce high US corporation taxes in order to allow businesses to ‘compete anywhere’, while offering ‘massive’ relief for the middle classes, however, sounded something like a broken record. Having already heard White House officials suggest the President will call for the biggest increase in military spending since the height of the Iraq and Afghanistan wars, adding US$54bn to the Pentagon’s budget, a further ‘throw away’ ambition of invest US$1tr into his country’s tired infrastructure came across as just another unfunded promise. Equity markets appeared to anticipate just such an outcome before their close, with all three principal US indices falling modestly into the red as the Dow Jones snapped its 12-day streak of record closings, with retailers leading the decline following disappointing results and outlook statement from Target. Although trader’s patience now appears to be wearing rather thin, the initial impact on asset prices was limited during the Asian session as they instead hiked bets on a March interest-rate rise following hawkish speeches which put such a move ‘on the table’ coming from the Fed’s Bullard and FOMC’s Williams yesterday. This was enough to spike the US$:Yen, which was immediately reflected in a rising Nikkei that also celebrated news that Business Spending rose more than expected in Q4’2016. Other Asian markets followed this lead, with the Shanghai Composite confident having seen February Official Manufacturing PMI rise, while the commodity-heavy ASX also reversed earlier losses as the US$ spiked. Feeling in a rather anti-climactic mood, today’s macro releases are not expected to provide any great shakes, with the UK due to provide Nationwide House Prices, January Consumer Credit and February Markit Manufacturing PMI, with the US is scheduled this afternoon to detail January Personal Consumption Expenditures index data followed by Markit and ISM manufacturing PMI for February, the Beige Book and vehicle sales. Two further FOMC Member speeches due late in the US session, this time from Kaplan and Brainard, may add further to the markets increased conviction that a hike next month is on the cards. UK corporates due to detail earnings or trading updates include BBA Aviation (BBA.L), CRH (CRH.L), Carillion (CLLN.L), Costain Group (COST.L), James Fisher & Sons (FSJ.L), ITV (ITV.L) and Man Group (EMG.L). London equities will likely focus on the raised expectation of a Fed hike rather than last night’s disappointing lack of details, with the FTSE-100 seen rising between 10 and 15 points in early trade. Investors will also be seeking more detail from BP this morning after news of it setting a new break-even target for the Group at US$35 for a barrel of oil.

Breakfast Today

  • 21 Jul 16

Despite overnight markets rising again, Europe is more likely to see Brexit-related issues dominate early trading. The FTSE-100 is seen down around 20 points at the opening and ahead of the European Central Bank policy meeting that is due to take place later today. Still awaiting firm evidence of the impact of the UK's vote to leave the EU, the ECB is expected to keep its current €1.8tr stimulus measure unchanged despite President, Mario Draghi, having already suggested it has presented key risk that could knock as much as 0.5% off Eurozone economic growth over the next three years. Some economists, however, consider that any such a decision would be more a reflection of his lacking new options or ideas, rather than confidence that momentum is finally improving. A new caution that suggests clouds are gathering over the UK, comes from the Royal Institute of Chartered Surveyors who released a survey this morning indicating commercial property brokers are now bracing for a downturn in real estate values and rents. The US markets meanwhile continued their long positive run, basking in dollar strength the Dow Jones achieving yet another record close, with all other principal indices also rising as technology stocks reversed Tuesday's sell off to see the NASDAQ put in the strongest individual performance. Asia was also up across the Board, with the Nikkei claiming back twice Wednesday's losses as the Yen hit a six-week low against the US$, dragging Chinese and Australian stocks behind it. Other than the ECB rate decision, the UK is expected to release retail sales and public sector finances data, while Theresa May continues her European tour visiting the French President, Francois Hollande. The corporate calendar is also quite busy, anticipating results or trading statements fromBabcock, Britvic, Daily Mail and General Trust, easyJet, Howden, Premier Foods,SABMiller, SSE, Tate & Lyle and Unilever.