Komatsu Shares Rise After Nikko Citi Lifts Rating (Update1)

Komatsu Shares Rise After Nikko Citi Lifts Rating (Update1)

By Masumi Suga

Aug. 18 (Bloomberg) -- Komatsu Ltd., the world's second- largest maker of earthmovers, rose the most in a month in Tokyo trading after Nikko Citigroup Ltd. raised its rating, saying the current price is ``a good investment opportunity.''

The shares rose 3.8 percent to close at 2,445 yen on the Tokyo Stock Exchange, the biggest gain since July 22. Komatsu is down 20 percent this year, compared with a 14 percent decline in the Nikkei 225 Stock Average.

Nikko Citigroup analyst Yoshinao Ibara upgraded his rating to ``buy'' from ``hold,'' saying the company is countering risks of a slowdown in developed countries by tapping demand from ``resource-rich countries'' including Australia and in Central and South America, Asia, and the Middle East.

``Komatsu has established a business platform in a wide spectrum of emerging economies,'' Ibara said in a report dated Aug. 15. ``Business expansion in resource-rich countries in particular will continue to drive earnings.''

To contact the reporter on this story: Masumi Suga in Tokyo at msuga@bloomberg.net.

Last Updated: August 18, 2008 02:35 EDT

Athens Stock Exchange opening: Rise

Athens Stock Exchange opening: Rise

Πηγή: ΑΠΕ 18/08/08-11:02

Equity prices were rising at the opening of trade on Monday on the Athens Stock Exchange (ASE), with the basic share price index up 0.65 percent, standing at 3,319.59 points at 10:45 a.m., and turnover at 15.9 million euros. Individual sector indices were moving mostly upward, with the biggest gains in Food & Beverage, up 3.34 percent; Public Utilities, up 1.20 percent; and Travel & Recreation, up 1.02 percent. The biggest losses were in Insurance, down 1.13 percent; Chemicals, down 0.20 percent; and Industrial Products, down 0.05 percent. The FTSE/ASE 20 index for blue chip and heavily traded stocks was up 0.89 percent, the FTSE/ASE MID 40 index was up 0.33 percent, and the FTSE/ASE-80 small cap index was up 0.12 percent. Of the stocks moved, 58 were up, 23 were down, and 37 were unchanged. (Source: ANA-MPA)