Company
LON:ANTO
Antofagasta is a Chilean-based copper mining group with interests in transport and water distribution. It is listed on the London Stock Exchange and has been a constituent of the FTSE-100 index since 2004.The Group creates value for its shareholders through the discovery, development and operation of copper mining operations. It is committed to sustainable development, embedding safety and sustainability throughout its operations. In the conduct of its activities, it places great importance on health and safety, management of human resources, community relations and environmental matters.
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AEX Gold Inc (LON:AEXG) – Gold mineralised structure extends to depth at Nalunaq in Greenland Alba Mineral Resources (LON:ALBA) – Progress at Clogau not affected by Covid-19 Anglo Asian Mining* (LON:AAZ) - BUY –Earnings update Antofagasta (
Major maintenance work led to a 4.6% quarter-on-quarter reduction in copper production in the third quarter
Copper is considered to be a bellwether for the global economy
“The stock offers little apart from 'clean' copper price exposure making it vulnerable when the copper price consolidates”
The German bank has a "constructive" outlook on copper and highlighted that the copper miner's shares have been incredibly strong, but said its premium price is unjustified
The FTSE 100 miner had made a U-turn back in May and cut its dividend after an increase in the number of coronavirus infections in Chile
A third of the copper miner’s workers were either quarantining or working at home during most of the period
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Other firms scheduled for midweek updates include Melrose, Britvic, PayPoint and Eve Sleep
Antofagasta is the London market's go-to copper company
Stress in financial markets is increasingly likely to spark a significant collapse in Asian financial markets and falling Western demand for Chinese and other Asian goods will add further to Asian company woes.
The FTSE 100-listed miner expects production for the whole of 2020 to be at the lower end of its original 725,000-755,000 tonnes guidance
The near-term copper outlook remains uncertain, but longer-term it's a different story
Antofagasta is one of the world's leading copper producers
Antofagasta is the biggest copper producer listed in London
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Britain's blue chip index closed up over 143 points, or 2.8%, at 5,294, just before the UK Prime Minister’s daily briefing
“Key will be outlook, which we expect to be highly uncertain due to Covid-1,” analysts said, a comment that stands for almost all companies reporting
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The globalised nature of the spread and the response to the coronavirus could have a serious impact on trade and political systems
“Mining equities and commodities could remain under pressure in the near term as the market digests the impact of the coronavirus outbreak”
Analysts at the German bank raised Antofagasta to ‘hold’ from ‘sell’ with an increased target price of 850p from 840p
Full-year production is expected to be between 750,000 and 790,000 tonnes of copper as per guidance
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FTSE 100 closed in the red on Wednesday as miners weighed after a sell-off in iron ore in China
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The Conservative Party leadership contest was decided by a relatively convincing margin of 92,153 votes to 46,656, while Love Island commands consolidated viewing figures of more than 5mln
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The week ahead includes updates from ITV, Unilever, Rightmove, Diageo, Marston's, IG Group, National Express, GSK and AstraZeneca
The pair's 50:50 joint venture Tethyan Copper had filed an arbitration claim in 2011 after it was denied a mining lease for one of the largest undeveloped copper and gold deposits in the world
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The UK's premier share index closed down around 51 points at 7,552 on the day, but over the week as a whole the index added around 1.7%.
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Britain's blue-chip benchmark closed up nearly 86 points at 7,443, while the FTSE 250 added over 154 points at 19,311
“Copper prices have been weighed down by negative global growth sentiment, driven by the continuing trade war between the US and China and the weakness in global manufacturing purchasing managers indices"
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The UK's index of leading shares finished the first day of the trading week around 46 points higher at 7,378
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The Dow Jones suffered a 300 point fall in the first half hour of trading
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The UK blue-chip index ended 7.78 points lower at 7,265.98, just off the day's worst level of 7,263.80 after a topsy-turvey session which saw it hit a session high of 7,314.85 early on
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The FTSE 100 index closed 37.62 points, or 0.5% lower at 7,434.13, albeit above the session low of 7,405.99 as US stocks continued to post big falls on Thursday
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Aside from Barclays numbers, the Day Ahead will also bring updates from the likes of Taylor Wimpey and RELX, plus the final CMA decision on the planned Sainsbury's/Asda merger
"We are on-track for another record-setting year with full year production expected to increase by up to 9% to 750-790,000 tonnes,” said chief executive Ivan Arriagada.
The copper price has tracked sideways over the past year, but there are grounds for believing an uptick is in the way
UBS's analysts said they believe KAZ offers an attractive mix of leverage to copper price upside and clear stock-specific catalysts over the next 12-18 month
Antofagasta has opted to build a second concentrator at Centinela rather than expand the existing one, which, in Peel Hunt’s opinion, “favours earnings and dividend growth over returns on capital”
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Footsie closed at 7,279, up nearly 45 points on the day
The global bank’s analysts said: “Strong outperformance (+15% vs. pure-play peers in past year) has left Antofagasta as one of the most expensive base metal pure plays we cover globally”
HSBC's analysts concluded that although Antofagasta’s operational outlook is encouraging, they believe most of the upside is already priced into the stock
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The UK blue-chip index finished down nearly 33 points lower at 7,291
Overall, the FTSE 100-listed firm produced 725,300 tonnes of copper last year, however, realised copper prices were on average 6% lower than they were in 2017 and that fed through into lower revenue
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The Footsie added 0.34% to close at 7,324, while US shares are also higher at the time of writing
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Aside from the Brexit shenanigans, the Day Ahead will also bring the release of the latest UK jobs data, plus trading updates from online retailers Ocado PLC and ASOS PLC
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DIY stores owner Kingfisher, clothing retailer Next, plus troubled fashion firm Ted Baker will report full-year results, with trading updates due from internet grocer Ocado and online fashion group ASOS
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The footsie closed up nearly 43 points at 7,228, while FTSE 250 gained almost 208 points at 19,491
RBC cut its recommendation to ‘sector perform’ from ‘outperform’ and lowered its target price to 850p from 890p
The influential City broker cut its stance on blue-chip players Anglo American PLC and BHP PLC both to ‘sell’ from ‘neutral' with 23% and 18% downsides to raised valuations
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The UK's premier share index added nearly 14 points to close at 7,034
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The UK's premier share index finished almost ten points down. It was also lower on the week as a whole
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The Day Ahead also includes updates from blue-chip wealth manager St James's Place and new Wagamama owner The Restaurant Group, plus the latest European Central Bank policy meeting
The Chile-based group said its fourth-quarter copper production rose 16.8% to a record 220,000 tonnes as a result of higher production at all operations, particularly at Centinela
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Britain's blue-chip index closed over 58 points lower at 6,642, while the FTSE 250 was also down
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Updates will be coming thick and fast from both the FTSE 100 and FTSE 250 on Wednesday
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The UK's blue-chip index finished down nearly seven points at 6,96, while FTSE 250 was also lower
Investments and investor services
The Week Ahead will also bring trading updates from the likes of Vodafone, Anglo American, William Hill, Dixons Carphone, and WH Smith, plus the latest UK jobs and wages data
Copper could be the world's most useful metal, but it's still suffering from the global economic uncertainty
"Investors aren’t willing to forgive Fed Chair Jeremy Powell yet; a soft open on Wall Street threatens to drag the FTSE lower into the close," said Fiona Cincotta at City Index
The Footsie looked destined to finish well off the top but still sporting a handsome gain following a weekend of deals at the G20 and Opec meetings
The premier index of UK shares finished down nearly 59 points at 6,980. Mid-cap cousin FTSE 250 shed over 128 points at 18,480.
On Wall Street, the Dow Jones Industrial Average is down over 423 points at 25,565, while the S&P 500 is off around 37
The FTSE 250 fared much better though, adding almost 154 points on the day to close at 19,325
UBS raised its rating on Antofagasta to ‘neutral’ from ‘sell’ and maintained a target price of 800p, saying it believes the risk vs reward has improved
At the close, the UK blue chip index was 41.12 points higher at 7,004.10, the session peak, and well above the early low of 6,995.99
The mining group said it had narrowed its copper production guidance for the full year to 705-725,000 tonnes
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Footsie finished Wednesday nearly eight points higher at 6,962.
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The third quarter banking results season is upon us and Barclays is set to open the batting, more in the style of Keaton Jennings than Alastair Cook, according to many pundits
The UK's premier index of leading shares closed down seven points, or 0.10% at 7,042
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Aside from the banking trio, updates are also due in the week ahead from the likes of WPP, Whitbread, International Airlines Group, Ryanair, Glencore and Antofagasta
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In the currency markets, sterling is around flat against the Euro and down 0.43% against the US dollar.
The UK blue - chip index finished down 99.8 points at 7,318, while FTSE 250 was also lower
The UK blue-chip index closed down around 14 points at 7,495 as the stronger pound weighed
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The UK blue-chip index closed nearly four points higher at 7,511
The UK blue-chip index lost almost 32 points at 7,458
The UK's premier index closed up around 36 points at 7,367.
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The FTSE 100 closed nearly 31 points higher at 7,331, while FTSE 250 added over 42 at 20,500
A look at some of the biggest risers and fallers in the London market on Tuesday
FTSE 100 closed down nearly two points on the day at 7,302
The UK benchmark index of leading shares finished down nearly 32 points at 7,281
Despite some tariff-related headwinds, copper looks set to be the standout metal in the coming few years
The UK's index of leading shares added 1.6 points, or 0.02% , to finish at 7,279, while sterling was up 0.80% against the US dollar
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The UK blue chip index was about 10 points lower at 7,373, above the session low of 7,357.09 but below the morning peak of 7,397.74
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It promises to be a busy Thursday morning with several closely followed firms reporting, meanwhile, around 9 points will come off the index with blue-chip miners such as BHP Billiton, Antofagasta, and Glencore going ex-dividend.
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Aside from the housebuilders, the week head will also see updates from advertising giant WPP, electricals retailer Dixons Carphone, and transport operator Go-Ahead Group
RBC raised its rating on Antofagasta to ‘outperform’ from ‘sector perform’ but cut its target price to 950p from 980p after poor first-half results
The Footsie closed the day in positive territory, just, but was down on the week as a whole
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The UK blue-chip benchmark closed up over 58 points at 7,556, while its mid-cap cousin FTSE 250 added almost 142 points
The FTSE 100-listed miner saw its underlying earnings (EBITDA) fall by 16.2% to US$904.2mln for the first six months of 2018, down from US$1.079bn a year earlier
The blue-chip index of leading shares closed down almost 31 points at 7,611
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Aside from the UK data, the Day Ahead includes first-half numbers from blue-chip miner Antofagasta and from mid-cap insurer esure - which revealed a surprise bid approach on Monday
The UK benchmark of leading shares closed down over 24 points at 7,642.
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Aside from the DIY retailer's numbers, the Week Ahead diary includes updates from miner Antofagasta, and motor insurers Admiral and esure, plus a raft of key UK data
FTSE 100 closed down 0.46 points, or 0.01% at 7,700 on Monday
Antofagasta left its production guidance for the year unchanged at 705-740,000 tonnes
The UK blue-chip index closed around 50 points lower at 7,658, while FTSE 250 was also down - over 99 points at 20,753
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Among Wednesday's names are ITV, GlaxoSmithKline, Indivior, and Tullow Oil
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Over the five sessions in the Week Ahead, around 20% of the FTSE 100 index will report results or issue a trading update, with about half that number due on Thursday alone
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Footsie closed up around seven points, or 0.10% at 7,683 on Thursday
Footsie added nearly 26 points to stand at 7,626, while FTSE 250 also finished higher - up almost 71 points at 20,871
