If you thought our angle on this company was interesting, you may want to check out our idea room, The Value Lab . We focus on long-only value ideas of interest to us, where we try to find international mispriced equities and target a portfolio yield of about 4% . We've done really well for ourselves over the last 5 years, but it took getting our hands dirty in international markets. If you are a value-investor, serious about protecting your wealth, our gang could help broaden your horizons and give some in ...

If you thought our angle on this company was interesting, you may want to check out our idea room, The Value Lab . We focus on long-only value ideas of interest to us, where we try to find international mispriced equities and target a portfolio yield of about 4% . We've done really well for ourselves over the last 5 years, but it took getting our hands dirty in international markets. If you are a value-investor, serious about protecting your wealth, our gang could help broaden your horizons and give some in ...

BHP Ltd (ASX:BHP), one of the ASX’s ‘Mag2’ (alongside Commonwealth) and the world’s biggest miner (depending on how you measure it), has dipped -2.3% in early Wednesday trades on news China has expanded an effective boycott on BHP iron ore products over what is believed to be a contract pricing dispute.Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.As I covered in last week’s HotCopper Wire podcast epis ...

Mineral Resources Ltd (Resmed CDI (MIN share price in focusThe ASX:MIN ) share price has risen 17.9% since the start of 2025. Meanwhile, the ASX:RMD ) share price is 8.8% away from its 52-week high. This article explains why it could be worth popping MIN and RMD shares on your watchlist.Mineral Resources Limited (MIN) is a diversified Australian mining company primarily focused on the extraction of lithium and iron ore in Western Australia.In addition to its mining operations, MIN offers mining and engineer ...

BHP Group Ltd (QBE Insurance Group Ltd (BHP share price in focusThe ASX:BHP ) share price has jumped 1.0% since the start of 2025. The ASX:QBE ) share price is tracking 28.6% off its 52-week lows.BHP Group (formerly known as BHP Billiton) is a diversified natural resources company founded in 1885 that produces commodities for energy use and manufacturing.BHP’s core business lines are mineral exploration and production. BHP’s assets, operations and interests are separated into three focus areas: copper and r ...

投资评级与核心观点 - 报告对股票持等权重评级 对核心固定收益资产持超配评级 对其他固定收益资产持低配评级[4] - 核心观点认为宏观与市场表现脱节 风险资产受益于"不那么糟糕"的消息 国债因预期美联储降息而上涨 但估值过于乐观[3] - 建议在增长和关税风险中聚焦优质资产 偏好优质周期股和投资级信用债而非高收益债[4] 全球主要股市展望 - 美股偏好优质股、周期股和运营效率高的股票 标普500指数目标6500点 2025年EPS增长7%至259 2026年增长9%至283[6][7] - 欧股超配防御、银行、软件、电信和多元化金融板块 MSCI欧洲指数目标2250点 2025年EPS下降1%至138 2026年增长2.2%至141[6][7] - 日股偏好国内再通胀和公司改革受益股 及国防和经济安全相关支出企业 Topix指数目标2900点 2025年EPS增长1%至185 2026年增长8%至200[6][7] - 新兴市场超配金融和盈利能力领先企业 偏好国内业务而非出口和半导体硬件 MSCI EM指数目标1200点 2025年EPS增长6%至84 2026年增长10%至92[6][7] 宏观经济预测 - 全球GDP增长2025年2.6% 2026年3.1% 通胀2025年1.9% 2026年2.0%[10] - 美国GDP增长2025年1.1% 2026年1.3% 通胀2025年2.9% 2026年2.6%[10] - 欧元区GDP增长2025年1.0% 2026年1.1% 通胀2025年1.9% 2026年1.8%[10] - 日本GDP增长2025年0.4% 2026年0.7% 通胀2025年2.1% 2026年1.7%[10] - 新兴市场GDP增长2025年3.9% 2026年4.4% 通胀2025年1.5% 2026年1.9%[10] 央行政策预期 - 预计美联储本周降息25个基点 随后在1月前连续四次25基点降息 目标区间至3.375% 2026年4月和7月进一步降息至终端利率2.875%[2][20] - 预计欧洲央行12月和3月会议各降息25基点 终端利率1.5%[2][20] - 预计英国央行本周按兵不动 11月可能降息[20] - 预计日本央行不急于下次加息 维持政策不变[20] 固定收益与外汇展望 - 预计10年期美债收益率2025年底达4.00% 德债收益率至2.40% 英债收益率至4.35%[14][15] - 美元指数承压 预计跌至91 因美国利率和增长与 peers 趋同及风险溢价上升[14] - 欧元兑美元目标1.20 美元兑日元目标140 英镑兑美元目标1.40[15] 大宗商品展望 - 原油市场预计将出现大幅过剩 布伦特油价可能下跌但不低于60美元/桶[16] - 欧洲天然气价格近期区间波动 TTF短期预测35欧元/MWh[17] - 美元走弱对大宗商品有利 黄金有10%上行空间 铁 ore 上行空间有限[18] 信用市场展望 - 投资级信用债预计强劲总回报 杠杆融资投资者建议BB和CCC级债券的 barbell 策略[23] - 美国投资级信用债利差基案例90基点 高收益债335基点 杠杆贷款425基点[24]

POLAND - 2024/12/08: In this photo illustration, the Vale company logo is seen displayed on a smartphone screen. (Photo Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesVale (NYSE:VALE), the Brazilian mining powerhouse and one of the largest iron ore producers globally, has faced challenges in gaining traction in 2025, even with favorable long-term commodity fundamentals. Shares have remained relatively stable, affected by investor hesitance regardi ...

股东大会结果 - 2025年年度股东大会于9月18日在香港举行 股东投票率达到86.014% [2] - 董事会人数确认为9名 支持率为99.963% [3] - 所有董事候选人以超过99.73%的得票率连任 其中Dwight Ball和Gloria Wong获得最高支持率99.963% [4] - 审计机构Mao & Ying LLP以99.957%的支持率获得续聘 [5] 公司业务结构 - 主要从事资源勘探开发 在加拿大拥有数十亿吨级铁矿项目组合 [7] - 同时运营食品分销业务Century Food 主营香港和澳门市场的高品质食品 [7][9] - 食品业务创建于2015年超级周期底部 作为逆周期业务补充金属业务 [9] 核心项目进展 - Joyce Lake直运铁矿项目位于纽芬兰与拉布拉多省 已完成2022年更新可行性研究 [8] - 项目正进行环境评估 通过铁路连接Sept-Îles港口 [8] - 项目由特殊目的公司Joyce Direct Iron Inc持有 公司持股比例为89.8% [8]

This picture taken on September 3, 2025, shows the logo of Rio Tinto, a global mining and metals company, at the headquarters in Perth, Western Australia. (Photo by Antony DICKSON / AFP) (Photo by ANTONY DICKSON/AFP via Getty Images)AFP via Getty ImagesRio Tinto (NYSE: RIO), one of the largest diversified mining companies in the world, has been fluctuating within a range despite solid commodity fundamentals. The stock has yielded modest increases in 2025, trailing behind broader equity indices, as investors ...

Key TakeawaysThe Dollar Index is holding steady at 97.50, with traders anticipating potential downside pressures amid growing expectations for a Federal Reserve interest rate cut.China's economic activity experienced a greater-than-expected slowdown in August, impacting commodity markets and causing iron ore prices to pare earlier losses before stabilizing.Investors are increasingly favoring blue-chip corporate bonds from European giants like L'Oréal (LRLCY), Airbus (EADSY), and AXA (AXAHY) over French gove ...