Ive been away for a week in the bunker during what can imo only be described as a mystery rally,,,no matter how much dyre economic, financial or company news comes out the market continually pops,,,europe is broke, pmis are falling , warning from BHP, emergency credit lines, emergency intervention by central banks, the list goes on and still the xjo goes nuts that Franko Germano are going to fix the problem totally by thursday and yet again now its march.. huge suckers rally about to unwind imo....
Anyhoo NCM,,Newswire for your information
DJ MARKET TALK: Newcrest Cut To Hold From Buy - Deutsche Bank
0022 GMT [Dow Jones] STOCK CALL: Deutsche Bank cuts Newcrest (NCM.AU) to Hold from Buy, slashes price target 16% to A$37.70 after lowering its fiscal 2012 production forecast 7.5% to 2.5 million ounces of gold and consequently cutting its fiscal 2012 and 2013 EPS forecasts by about 20%. "Newcrest has vested about 175,000 ounces per annum into Evolution (EVN.AU), experienced a pit wall failure at Cadia Valley and suffered lower production at Lihir due to rain," the broker says. "We also believe there has been a change of management strategy, with Newcrest now setting more realistic expectations for all but Cadia and Lihir." NCM is down 2.4% at A$34.55. ([email protected])
