Newsquawk Daily European Equity Opening News

19th December 2023

ASIA

APAC stocks eventually traded mixed after a subdued start to the session with news flow light and the BoJ failing to induce any macro price action. ASX 200 was supported from the start by its Gold and Energy sectors, whilst no major move was seen on the release of the RBA minutes. Nikkei 225 was subdued at the start of the session but later shot higher on its return from lunch break after the BoJ opted to keep all settings unchanged unanimously in what was a straightforward meeting to round off the year. Hang Seng and Shanghai Comp were softer throughout the session with the former dragged lower once again by its property sector, whilst the latter saw its losses cushioned by another sizeable liquidity injection via 7-day and 14-day reverse repos.

EUROPEAN CLOSES

CLOSES: DAX -0.60% at 16,650.55, FTSE 100 +0.50% at 7,614.48, CAC 40 -0.37% at 7,568.86, Euro Stoxx 50 -0.65% at 4,519.85, IBEX 35 -0.40% at 10,054.90, FTSE MIB -0.44% at 30,241.02, SMI -0.32% at 11,155.80.

SECTORS: Energy 1.02%, Healthcare 0.67%, Telecoms -0.10%, Consumer Stpl -0.14%, Materials -0.18%, Financials -0.24%, Industrials -0.71%, Consumer Disc -1.14%, Utilities -1.32%, IT -1.78%.

FTSE 100

OTHER UK COMPANIES

BROKER MOVES

DAX

Bayer (BAYN GY) - Monsanto has lost a USD 850mln decision in Washington. (Newswires)

Covestro (1COV GY) - ADNOC is reportedly considering increasing its formal bid for the Co. to EUR 60/shr (prev. 57/shr), via Bloomberg citing sources. (Newswires)

SAP (SAP GY) - Will exclude gains/losses from equity investments from non-IFRS results in 2024, change will not impact FY23 or Q4 earnings. (Newswires)

OTHER GERMAN COMPANIES

Lufthansa (LHA GY) - CEO says they are reducing its growth planning for the year ahead amid delivery difficulties/engine problems. (Suddeutsche Zeitung)

BROKER MOVES

Lanxess (LXS GY) downgraded to Reduce from Buy at Baader Helvea

Wacher Chemie (WCH GY) downgraded to Reduce from Buy at Baader Helvea

CAC

OTHER FRENCH COMPANIES

ADP (ADP FP) - November Paris: airport traffic 7.3mln, +4.5% Y/Y; at 92.5% of 2019 levels. (Newswires)

Casino (CO FP) - Shares will recommence at the cash open: On Monday, announced exclusive talks with Auchan Retail and Groupement Les Mousquetaires for the sale of their hypermarkets/supermarkets. Followed: Carrefour (CA FP) has reportedly offered to acquire the network of around 7k small local stores from Casino for circa. EUR 500-600mln. (Les Echos).

Exclusive Networks (EXN FP) - Acquires Consigas, terms not disclosed. (Newswires)

BROKER MOVES

PAN EUROPE

Auto Names - Tesla (TSLA) is reportedly planning a 10% or higher hourly pay rate increase for some workers at its Nevada battery factory in January, according to CNBC. (CNBC)

Metals Names/US Importers - The EU is to suspend duties imposed on US imports in retaliation to US tariffs on EU steel and aluminium, EU measures will be suspended for another 15 months. (Newswires)

TomTom (TOM2 NA) - Co. and Microsoft (MSFT) are bringing the benefits of Generative AI to the auto industry. (Newswires)

UniCredit (UCG IM) - CEO says they are considering acquisitions in the coming years, though the approach will be very disciplined. (Newswires)

BROKER MOVES

SMI

UBS (UBSG SW) - Activist investor Cevian Capital has reportedly taken a EUR 1.2bln stake in UBS, betting that it can double its valuation over the next 3-5 years, according to the FT. (FT) Subsequently confirmed.

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Attendo (ATT SS) - Confirms recent media speculation around a possible acquisition of certain businesses in Team Olivia. (Newswires)

Elekta (EKTAB SS) - Co. and Bristol Myers (BMY) are partnering on digital solutions for patients with melanoma. (Newswires)

BROKER MOVES

US

CLOSES: SPX +0.45% at 4,740, NDX +0.64% at 16,729, DJIA +0.00% at 37,306, RUT -0.14% at 1,982.

SECTORS: Communication Services +1.89%, Consumer Staples +1.08%, Consumer Discretionary +0.79%, Energy +0.76%, Technology +0.27%, Health +0.19%, Financials +0.14%, Industrials +0.07%, Materials +0.06%, Utilities -0.3%, Real Estate -0.35%.

19 Dec 2023 - 06:50- EnergyExclusive- Source: Newsquawk