Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on SUNRISE RESOURCES PLC. We currently have 39 research reports from 4 professional analysts.
|23Mar17 12:09||RNS||Holding(s) in Company|
|21Mar17 13:40||RNS||Holding(s) in Company|
|13Mar17 10:00||RNS||CS Project - Update|
|07Mar17 07:00||RNS||Placing and Total Voting Rights|
|02Mar17 07:00||RNS||CS Project - Update|
|14Feb17 08:24||RNS||County Line Diatomite Project|
|08Feb17 11:12||RNS||Holding(s) in Company|
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SUNRISE RESOURCES PLC
SUNRISE RESOURCES PLC
14 Mar 17
Markets remain tense in anticipation of a series of key announcements this week. The big one is the FOMC meeting, which starts today and concludes tomorrow with its interest rate decision at 18:00hrs. With Fed futures suggest a 95% chance of a 25bp hike most think it is already in the bag, suggesting there would be something of a shock reaction if Janet Yellen fails to deliver. More realistically perhaps, the Fed Chair could send a shiver down the markets spine by signalling either the need for more aggressive policy or the possible need for more than the 3 moves she has already guided for 2017. The yield on the benchmark 10-year U.S. Treasury note edged higher last night to 2.591%, according to Tradeweb, from 2.582% Friday. Beyond this, the flood of news continues with The Bank of Japan, Bank of England and the Swiss National Bank are all set to hold meetings this week, while Dutch voters head to the polls tomorrow, with the outcome expected to be declared early Thursday. This, of course, is the first of a series of key votes in the Eurozone this year and investors will be watching to see how well Geert Wilders' anti-establishment, Party for Freedom, performs to determine the Dutch political landscape and reassess populist and anti-euro candidate Marine Le Pen's chances of winning the French presidency in the first round on 23rd April. While En Marche's Emmanuel Macron is seen accompanying the National Front's leader to the second round on 7th May, opinion polls consistently give him a 20%+ lead in such a run-off, an outcome that would likely significantly narrow the currently wide 10-year OAT-Bund spread. just as Parliament clears the way for Brexit, Scotland's chief minister Nicola Stugeon has called for another Referendum on leaving the U.K. due, apparently, to concerns about leaving the EU single market; traders suggest, however, her move had been widely anticipated and, given the event is still seen some 18 months away, so far has failed to hurt Sterling. More immediately, however, a dovish tone from the Bank of England on Thursday, would likely set it sliding downward. With all eyes on the Fed, US equities drifted featureless in a tight range, ending mixed with just fractional mixed moves amongst the principal indices. Asian equities ended similarly, although most closed marginally in the red, with Japan's Toshiba the principal feature with its shares tumbling upon announcing a further delay in releasing its earnings report; the Shanghai Composite trod water despite Chinese value-added industrial output, a proxy for economic growth, expanding to 6.3% in the first two months of 2017, exceeding expectations. No significant UK macro data is due today, although the EU provides Industrial Production data and its ZEW Survey, while the US is scheduled to release Producer Prices and its Redbook. UK corporates due to release earnings or trading updates include Prudential (PRU.L), Antofagasta (ANTO.L), TP ICAP (TCAP.L), French Connection (FCCN.L), SIG (SHI.L) and Ocado (OCDO.L). Equities in London are expected to trade lightly at the opening, with the FTSE-100 seen rising 5 to 10 points in early business.
Strong trading leads to upgrades
22 Mar 17
On the back of today’s positive trading update and slightly upgraded profit forecasts for FY2017, FY2018 and FY2019 we have reviewed our DCF analysis. This has led to an increased DCF valuation per share of 1500p (from 1200p) which we have made our new target price (from 1200p). Both TFP and JC Paper have contributed to the upgrades shown in the table below as have favourable currency movements. With the potential for further upgrades due to capitalising 3DP costs to come we maintain our Add recommendation.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
Bang to rights
21 Mar 17
Tullow unexpectedly announced a US$750m rights issue on Friday at a 45.2% discount to the previous close. While this step confirms our investment thesis, the scale of the discount and the timing look like a slap in the face for investors and/or indicative of a weaker financial position than we are modelling. We publish revised estimates to reflect the impact of the issue and cut our Target Price to 215p per share (from 245p). We maintain our Hold recommendation.
Panmure Morning Note 22-03-2017
22 Mar 17
Acacia Mining and Endeavour Mining confirmed merger talks have now ended with Endeavour claiming an inability to “create adequate value for Endeavour shareholders”, most likely, we believe, given the disappointing ruling from the Tanzanian government on copper-gold concentrate sales. We were positive on the merger and believed a credible London listed Pan-African producer capable of challenging Randgold, would have been established. We make no change to our Hold recommendation today, and expect the shares to be marked lower in early trade.