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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Connect  >  Hong Kong Exchanges and Clearing Limited    388   HK0388045442

HONG KONG EXCHANGES AND CLEARING LIMITED

(388)
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End-of-day quote. End-of-day quote Hong Kong Stock Connect - 02/24
260.8 HKD   -2.54%
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02/21HONG KONG EXCHANGES AND CLEARING LIMITED : annual earnings release
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Hong Kong Exchanges and Clearing : LME warehouse rents rises to slow in 2017-2018

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12/30/2016 | 06:28am EST
File photo of men walking past the London Metal Exchange (LME) in London

LONDON (Reuters) - Warehouse firms in the London Metal Exchange's network of more than 600 warehouses in 37 locations have announced significantly lower rent rises for the year starting in April, the exchange said in a release on Friday.

The LME said this year it would freeze the maximum rate for five years to curb surging costs, the final reform in a three-year series of changes at the 139-year-old exchange, which have also included tough rules to slash delivery backlogs.

The average increase for 2017-2018 will be 3 percent for rent and 2 percent of free-on-truck charges (FOT), compared with increases of 7 percent and 9 percent respectively set for this year, the exchange said.

Owners of LME-approved warehouses include Henry Bath, partly owned by trading house Mercuria and partly by Chinese logistics company CMSTD, Metro International Trade Services, which was bought by investment firm Reuben Brothers in 2014, and Steinweg Group.

The overhaul of the LME's warehousing system started more than five years ago, due to a controversy surrounding queues to get metal released from storage, which in some cases resulted in months of waiting times.

The LME, owned by Hong Kong Exchanges and Clearing Ltd., had previously said that once the freeze ended, rates would rise annually based on the consumer price index in each country.

(Reporting by Clara Denina; editing by Susan Thomas)

Stocks mentioned in the article
ChangeLast1st jan.
HONG KONG EXCHANGES AND CLEARING LIMITED -2.54% 260.8 End-of-day quote.-1.58%
METRO INC. -0.62% 54.63 Delayed Quote.3.58%
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Financials (HKD)
Sales 2019 16 290 M
EBIT 2019 11 256 M
Net income 2019 9 451 M
Finance 2019 121 B
Yield 2019 2,58%
P/E ratio 2019 34,6x
P/E ratio 2020 30,2x
EV / Sales2019 12,8x
EV / Sales2020 9,33x
Capitalization 329 B
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Technical analysis trends HONG KONG EXCHANGES AND CL
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 280,05  HKD
Last Close Price 261,80  HKD
Spread / Highest target 24,5%
Spread / Average Target 6,97%
Spread / Lowest Target -16,0%
EPS Revisions
Managers
NameTitle
Xiaojia Li CEO & Executive Director
Romnesh Lamba Co-President
Chi Kin Tai Co-President & Chief Operating Officer
May Lung Cha Non-Executive Chairman
Vanessa Lau Group Chief Financial Officer
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