Newsquawk Daily European Equity Opening News

6th August 2024

ASIA

APAC stocks were mostly positive as the region rebounded from the recent market turmoil - Nikkei futures saw an upside circuit breaker triggered, while the Korea Exchange activated sidecars for the Kospi and Kosdaq after early surges. ASX 200 traded higher albeit within a confined range as participants awaited the latest RBA policy announcement, while the central bank provided no major surprises as it kept rates unchanged and maintained its hawkish tone. Nikkei 225 bounced back aggressively following its largest-ever daily point drop and reclaimed the 34,000 status. Hang Seng and Shanghai Comp. were somewhat lacklustre with the Hong Kong benchmark gave up initial gains, while the mainland lagged after a substantial daily net liquidity drain.

EUROPEAN CLOSES

CLOSES: DAX: -1.95% at 17,318, FTSE 100: -2.04% at 8,008, CAC 40: -1.42% at 7,149, Euro Stoxx 50: -1.49% at 4,570, AEX: -2.10% at 860, IBEX 35: -2.34% at 10,423, FTSE MIB: -2.27% at 31,294, SMI: -2.63% at 11,563, PSI: -1.87% at 6,468.

SECTORS: IT -0.74%, Consumer Disc -1.73%, Consumer Stpl -1.83%, Industrials -1.93%, Materials -2.06%, Telecoms -2.09%, Financials -2.32%, Healthcare -2.39%, Energy -3.24%, Utilities -3.55%

FTSE 100

GSK (GSK LN) - Jury in Joiner case within a Illinois court finds the Co. is not liable for plaintiff's colorectal cancer. (Newswires)

OTHER UK COMPANIES

BROKER MOVES

Haleon (HLN LN) downgraded to Neutral from Buy at Goldman Sachs

Rio Tinto (RIO LN) downgraded to Sell from Hold at Panmure Liberum

DAX

Allianz (ALV GY) - Co. has come to a deal with the English RFU for the naming rights to Twickenham Stadium, value of the deal is undisclosed. (Sky News)

Bayer (BAYN GY) - Q2 (EUR): Sales 11.1bln (exp. 10.9bln), adj. EBITDA 2.11bln (exp. 2.07bln), EBIT 525mln (exp. 1.6bln); crop science saw a slight revenue increase and a sharp fall in earnings. FY outlook confirmed. (Newswires)

OTHER GERMAN COMPANIES

Carl Zeiss (AFX GY) - 9-month (EUR): Consolidated Revenue 1.48bln (prev. 1.5bln), EBIT 162mln (prev. 244mln), EBIT Margin 10.9% (prev. 16.2%)

Deutsche Wohnen (DWNI GY) - H1 (EUR): adj. EBITDA Rental 314mln (prev. 325mln), adj. EBIT 71mln (prev. 70mln). (Newswires)

Fraport (FRA GY) - Frankfurt airport experienced a power outage late on Monday, flights unaffected. H1 (EUR): Revenue 2.03bln, Net 160mln, +89%. FY Guidance: EBITDA 1.26-1.36bln (exp. 1.32bln), Net 435-530mln (exp. 440mln). (Newswires)

Zalando (ZAL GY) - Q2 (EUR): Revenue 2.6bln (exp. 2.6bln), adj. EBIT 171mln (exp. 151mln), GMV 3.8bln. FY Guidance: adj. EBIT 380-450mln (exp. 334mln). (Newswires) +4.8% in pre-market trade

BROKER MOVES

CAC

Airbus (AIR FP) - July Aircraft Update: Deliveries 77 (June 67), Gross Orders 59 (June 73). January-July: 386 gross aircraft orders, 367 net orders, delivered 300 craft. (Newswires)

OTHER FRENCH COMPANIES

BROKER MOVES

PAN EUROPE

ArcelorMittal (MT NA) - Completes the acquisition of a strategic stake in Vallourec (VK FP). Does not intend to launch a tender offer for remaining shares in the next six-months. (Newswires)

Galp (GALP PL) - To distribute an interim dividend of EUR 0.28/shr. (Newswires)

BROKER MOVES

SMI

Adecco (ADEN SW) - Q2 (EUR): Revenue 5.84bln (exp. 6.1bln), Net 58mln (exp. 129mln). Revenue development in Q3 expected to be similar Q/Q. (Newswires)

OTHER SWISS COMPANIES

Galencia (GALE SW) - H1 (CHF): Revenue 1.9bln (exp. 1.94bln), adj. EBIT 99mln (prev. 90mln), Net 79mln (prev. 75mln). FY24 guidance confirmed. (Newswires)

Sonova (SOON SW) - Announces two new hearing aid platforms, incl. the first aid with real-time AI. CEO says they feel confident about FY guidance. (Newswires)

BROKER MOVES

SCANDINAVIA

DNO (DNO NO) - Q2 gross operating production in Kurdistan at 79.7k BOEPD (prev. 65k Y/Y). (Newswires)

BROKER MOVES

US

CLOSES: SPX -3% at 5,186, NDX -3% at 17,895, DJIA -2.6% at 38,703, RUT -3.3% at 2,039

SECTORS: Technology -3.78%, Communication Services -3.35%, Consumer Discretionary -3.07%, Real Estate -2.95%, Financials -2.9%, Health -2.69%, Utilities -2.69%, Materials -2.28%, Energy -2.01%, Consumer Staples -1.94%, Industrials -1.72%.

06 Aug 2024 - 06:50- EquitiesResearch Sheet- Source: Newsquawk