China United Network drives rally in telcos after robust H1

CIG ShangHai Co

16/08/2018 03:53

** Shares in China United Network Communications Ltd
 600050.SS  jump as much as 9.94 pct on Thursday, fuelling a
rally in telecommunication firms encouraged by its supercharged
first half earnings
    ** Stock pares gains to 5.71 yuan, up 7.1 pct, by 0226 GMT,
and is set for its best day since April 23
    ** The China-based telecoms operator posts a 231.8 percent
jump in H1 net profit to 2.6 billion yuan ($376.04 million)
 urn:newsml:reuters.com:*:nH9N1UZ04N
    ** Among the 15 analysts that cover China United Network
Communications Ltd, the current average rating on the shares is
"hold"; the breakdown of recommendations is 8 "strong buy" or
"buy", two "hold" and five "sell" or "strong sell". The analyst
mean price target is 6.35 yuan
    ** ZhongTongGuoMai Communication Co Ltd  603559.SS ,
Hangzhou Freely Communication Co Ltd  603602.SS , Shenyu
Communication Technology Inc  300563.SZ  and CIG Shanghai Co Ltd
 603083.SS  all spike by their daily 10 pct limit, with ZTE Corp
 000063.SZ  also up more than 4 pct
    ** China's blue chip CSI300 index  .CSI300  is up 0.45 pct
   ($1 = 6.9142 Chinese yuan)

 ((Reuters Messaging: Cheng.Li.thomsonreuters.com@reuters.net))