Brokers: Vodafone Group plc sees TP nudged higher, Anglo American Plc sees significant target upgrade from JPMorgan
Looking at the morning's broker action we see Vodafone Group plc (LON:VOD) and Anglo American Plc (LON:AAL) drawing much of the attention.
Both FTSE 100 majors have received target share price upgrades from analysts at investment bank JPMorgan Cazenove.
Vodafone Group Plc has been kept at an overweight rating, however JPMorgan Cazenove have told investors that they are lifting their target share price from 220 to 225.
Anglo American Plc has seen a moor significant rating change.
JPMorgan Cazenove say they are raising AAL from Underweight to Neutral while raising the stock's target share price from 1640 to 1930.
Latest news from the markets:
"Disappointing Chinese economic data will set the early trading trend, as growth in China has drifted down to 7.7%. Although this is a level that many global economies would aspire to, it is well below the 8.1% that markets were expecting. This morning’s EU trade balance figures will give us an opportunity to assess how the ongoing weakness in the euro strength is affecting the eurozone nations," says Alastair McCaig at IG in London.
The FTSE 100 is seen 0.8 pct in the red at 6325.
Both FTSE 100 majors have received target share price upgrades from analysts at investment bank JPMorgan Cazenove.
Vodafone Group Plc has been kept at an overweight rating, however JPMorgan Cazenove have told investors that they are lifting their target share price from 220 to 225.
Anglo American Plc has seen a moor significant rating change.
JPMorgan Cazenove say they are raising AAL from Underweight to Neutral while raising the stock's target share price from 1640 to 1930.
Latest news from the markets:
"Disappointing Chinese economic data will set the early trading trend, as growth in China has drifted down to 7.7%. Although this is a level that many global economies would aspire to, it is well below the 8.1% that markets were expecting. This morning’s EU trade balance figures will give us an opportunity to assess how the ongoing weakness in the euro strength is affecting the eurozone nations," says Alastair McCaig at IG in London.
The FTSE 100 is seen 0.8 pct in the red at 6325.
FTSE 100 technicals
Guardian Stockbrokers have the following to say about the technical setup behind the FTSE 100 today:
"The index traded higher during the previous week, reversing its earlier losses. It managed to break through a relatively significant resistance level of 6400, making a high for the week at 6423.60 on Thursday. However, it closed the week below the 6400 level, at 6385.
"On the 4H chart, momentum indicators are heading south reflecting weakness. A breach of the immediate support in the 6370-60 area might signal a possible move towards 6245. On a medium term basis, trading has been trapped inside a range of 6214-6534 since the past few weeks.
"A breakout on either side would give a proper direction to the market. Weekly price movements are non-trending giving a mixed view. On the upside, breach and stability above 6400-11 area would trigger further acceleration to the upside, paving the way for 6530-34 area."
Guardian Stockbrokers have the following to say about the technical setup behind the FTSE 100 today:
"The index traded higher during the previous week, reversing its earlier losses. It managed to break through a relatively significant resistance level of 6400, making a high for the week at 6423.60 on Thursday. However, it closed the week below the 6400 level, at 6385.
"On the 4H chart, momentum indicators are heading south reflecting weakness. A breach of the immediate support in the 6370-60 area might signal a possible move towards 6245. On a medium term basis, trading has been trapped inside a range of 6214-6534 since the past few weeks.
"A breakout on either side would give a proper direction to the market. Weekly price movements are non-trending giving a mixed view. On the upside, breach and stability above 6400-11 area would trigger further acceleration to the upside, paving the way for 6530-34 area."
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