|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||32.91 - 33.94|
|52-week range||25.11 - 49.89|
|Beta (3Y monthly)||1.20|
|PE ratio (TTM)||27.02|
|Earnings date||31 Jul 2019|
|Forward dividend & yield||0.78 (2.33%)|
|1y target est||46.18|
German specialty chemicals maker Wacker Chemie on Thursday said it had bought a quarter in British battery materials maker Nexeon Ltd. No financial details were disclosed. Nexeon makes silicon-based anode materials that improve the performance of lithium-ion batteries, Wacker Chemie said, adding the investment would intensify "its research activities on silicon-based materials for high-performance batteries".
Cobalt prices have started to firm after Glencore announced plans to freeze output at the world's largest mine of the battery material, but traders say an overhang of stock held by the commodity trader and miner will inevitably cap gains. Glencore said its Mutanda mine in the Democratic Republic of Congo will be put on "care and maintenance" from the end of this year for an expected two years as the economic rationale for keeping it going had deteriorated. Cobalt prices on the London Metal Exchange are near their lowest since October 2016, having crashed to $27,800 a tonne or $12.60 a lb from levels near $100,000 a tonne or $45 a lb in May last year.
"Our operating performance and strong balance sheet enable us to forcefully pursue growth investments and R&D programs and to confirm our dividend policy," Chief Executive Marc Grynberg, said. Umicore, supported by the ramp-up of capacity in Poland and China, expects to outperform the underlying market. The company's performance in the first six months was boosted by market share gains in light duty gasoline applications, the growing penetration of gasoline particulate filters and growth in precious metals chemistry, it said in a statement.
Johnson Matthey on Wednesday lowered the profit outlook for its largest unit that makes pollution filters for cars and trucks and announced the departure of the unit's head, sending its shares down more than 3%. Shares of the FTSE 100 company was the biggest loser on London's blue-chip index. The moves follow scrutiny of Johnson Matthey's catalytic filters for trucks, which have been linked to emission issues at truckmakers Volvo and Cummins.
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A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** Following Umicore's profit warning, 5-star analyst Berenberg cuts to "hold" saying "the bad news ...
France and Germany have asked the European Commission to approve state subsidies for a cross-border battery cell consortium including carmaker PSA with its German subsidiary Opel and French battery maker Saft, a German official said on Monday. The two countries have earmarked 1.7 billion euros (£1.4 billion) to support company alliances to help reduce European carmakers' dependence on Asian suppliers and protect jobs at risk from the shift away from combustion engines. The economy ministries of both countries sent a letter of intent to the European Union's executive body asking it to give a provisional go-ahead, a German economy ministry spokeswoman said, without giving a sum for the planned state funding.
The pan-European STOXX 600 index closed up 0.23 percent, touching August highs and extending gains to an eighth straight session - its longest winning streak since October 2017. Wall Street's rise on upbeat earnings bolstered sentiment, helping them retrace losses. The oil and gas sector hit a six-month high, up 2 percent, with Royal Dutch Shell, British Petroleum and Total, up between 1.8 percent and 2.6 percent.
Energy stocks boosted by a steady surge in oil prices, and a higher open on Wall Street helped European shares erase session losses and close higher on Tuesday, but a sell-off in banks and auto stocks kept gains in check. The pan-European STOXX 600 index closed up 0.23 percent, touching August highs and extending gains to an eighth straight session - its longest winning streak since October 2017. Energy-heavy London's FTSE 100 led gains in the region, up 0.9 percent at a more than six-month high, while Germany's DAX and France's CAC40 rebounded to close higher.
* European shares ends at August highs * Wall Street opens higher as tech shares gain * Oil & gas stocks climb after crude rally * Fear of easing China stimulus holds market back * Umicore plunges on 2020 ...
* European shares turn positive, back to August highs * Wall Street opens higher as tech shares gain * Oil & gas stocks climb after crude rally * Fear of easing China stimulus holds market back * Umicore ...
* European shares turn positive * Wall Street opens higher as tech shares gain * Oil & gas stocks climb after crude rally * Fear of easing China stimulus holds market back * Umicore plunges on 2020 earnings ...
* Oil & gas stocks climb after crude rally * Fear of easing China stimulus holds market back * Umicore down 15 pct on 2020 earnings warning * Wirecard falls after regulator lifts short sale ban * Thomas ...