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ubs downgrades lundin mining stock amid economic uncertainty and strategic shifts

UBS has downgraded Lundin Mining from Buy to Neutral, lowering the price target to Cdn$13.00 due to strategic shifts and economic uncertainties affecting the mining sector. While the sale of European assets is seen positively, concerns over trade wars and high capital expenditures persist. Conversely, Goldman Sachs initiated coverage with a Buy rating and a price target of C$16.60, highlighting the potential of the Vicuña project in Argentina, which could yield significant copper production by the mid-2030s.

ubs downgrades lundin mining amid economic uncertainty and strategic shifts

UBS has downgraded Lundin Mining from Buy to Neutral, lowering the price target from 13.50 to 13.00 CAD, citing concerns over trade wars and market uncertainty despite the company's strategic asset sales and strong financial position. Goldman Sachs, however, initiated coverage with a Buy recommendation and a price target of 16.60 CAD, highlighting the potential of the Vicuña project in Argentina, which could yield significant copper production by the mid-2030s.

analysts adjust ratings and price targets for london listed shares

Analysts have made several adjustments to London-listed shares, with RBC downgrading Ashtead Group to 'sector perform' and Goldman Sachs lowering its price target. UBS also cut ratings for United Utilities and National Grid to 'neutral', while Bank of America raised targets for St James’s Place and Phoenix Group. Other notable changes include Barclays downgrading Hammerson to 'underweight' and Citigroup adjusting targets for various companies, including Flutter Entertainment and Standard Chartered.

China imposes tariffs on US imports triggering sell-off in European markets

European markets experienced a significant sell-off on April 4, 2025, following China's announcement of 34% retaliatory tariffs on US imports, raising fears of a global trade war. Major UK banks and global mining companies saw sharp declines, with Barclays, NatWest, and Lloyds down over 7%. The oil price also plummeted to its lowest since August 2021, prompting Goldman Sachs to lower its forecasts for crude prices amid escalating tariff tensions. Defensive stocks like SSE and British American Tobacco managed to rise amidst the turmoil.
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