Newsquawk Daily European Equity Opening News - 10th February 2022

The Daily European Equity Opening News is uploaded at 0700GMT/0200EST recapping all of the overnight equity news.

From 0700GMT/0200EST all equity news will be covered in real-time over the audio and headline feed and the full audio rundown will be at 0715GMT/0215EST.

There will be an additional audio rundown at 0750GMT/0250EST recapping any company news which has hit the wires since 0715GMT/0215EST ahead of the European equity open

European equity coverage will only cover companies in the STOXX 600 or companies of systemic importance to particular sectors.

ASIA

Asia-Pac equity markets traded mixed after failing to sustain the early momentum from the firm handover from Wall St where the Nasdaq led the advances amid a tech/growth bias, with participants digesting another deluge of earnings updates and continued US-China frictions. ASX 200 (+0.3%) was just about kept afloat as financials provided support after both AMP and NAB reported higher H1 profits, while industrials were at the other end of the spectrum with heavy losses in CIMIC shares following weaker FY results. Nikkei 255 (+0.4%) also closed off its best levels of the day with the index swayed by a choppy currency and numerous earnings releases, with Honda one of the outperformers due to a 31% jump in its 9-month net. Hang Seng (-0.2%) and Shanghai Comp. (-0.2%) were subdued after Hong Kong reported its first COVID-related death in 5 months and as headlines continue to highlight US-China frictions with the Biden administration said to be mulling trade actions on China, while US Commerce Secretary Raimondo said they will not let China off the hook regarding the Phase One trade deal. Furthermore, SGH Macro recently noted that it understands Beijing will not ask Washington to reopen trade talks until the Biden administration decides to lift “punitive tariffs” on Chinese goods and that China will also refuse to talk with the US on a supplementary agreement to the Phase I trade deal or engage in Phase II negotiations with US.

TSMC (2330 TT) - January sales TWD 172.2bln vs. prev. TWD 126.8bln Y/Y. (Newswires)

EUROPEAN CLOSES

CLOSES: EURO STOXX 50 +1.8% at 4,204, FTSE 100 +1.0% at 7,643, DAX 40 +1.6% at 15,482, CAC 40 +1.5% at 7,130, FTSE MIB +2.7% at 27,128, IBEX 35 +2.0% at 8,846, SMI +1.9% at 12,388.

SECTORS: Consumer Disc 2.51%, Industrials 2.24%, Energy 1.84%, Healthcare 1.58%, Utilities 1.21%, Materials 1.10%, Consumer Stpl 0.30%, Financials 0.00%, IT 0.00%, Telecoms 0.00%

FTSE 100

Vodafone (VOD LN) - Iliad is said to have upped its bid to over EUR 11bln for Vodafone's Italian unit, according to reports. (Newswires)

OTHER UK COMPANIES

BROKER MOVES

DAX

Siemens (SIE GY) - Q1 2022 (EUR): Revenue 16.50bln (exp. 15.92bln), Basic EPS 2.05 (exp. 1.57). Co. sees 2022 trading in-line with guidance. Orders 24.2bln (prev. 15.9bln Y/Y). Co. has entered an agreement to exit the Valeo-Siemens automotive JV as Valeo (FR FP) acquired the Siemens stake for EUR 227mln. (Newswires)

OTHER GERMAN COMPANIES

Thyssenkrupp (TKA GY) - Q1 2022 (EUR): Revenue 9.02bln (exp. 8.77bln). Adj. EBIT 378mln (exp. 289mln). Net +203mln (prev. -93mln Y/Y) Co. reaffirms FY forecast. (Newswires)

BROKER MOVES

CAC

Credit Agricole (ACA FP) - Q4 2021 (EUR): Revenue 5.82bln (exp. 5.54bln). Net Income 1.43bln (exp. 1.23bln). FY Dividend 1.05/shr (exp. 1.00/shr). Operating expenses +4.4% Y/Y. CET1 ratio 11.6% (prev. 12.4% Q/Q). (Newswires)

SocGen (GLE FP) – Q4 2021 (EUR): Revenue 6.62bln (prev. 5.84bln Y/Y). Operating profit 1.97bln (prev. 798mln Y/Y). Adj. Net EUR 1.23bln (prev. 631mln Y/Y). In Q4 21, underlying gross operating income of EUR 1.9bln, +24.1% vs. Q4 20 Underlying Group net income of EUR 1.2bln, +94.4% vs. Q4 20. Underlying profitability (ROTE) of 9.2% (16.6% on a reported basis). Co. announced a dividend in cash, proposed to the General Meeting, of EUR 1.6/ shr and a share buyback programme, for around EUR 915mln. (SocGen IR)

L'Oreal (OR FP) - FY21 (EUR): Revenue 32.29bln, +16.1% LFL, +15.3% reported. Operating Profit 6.16bln (exp. 6.14bln), Operating Margin 19.1%) FY Net Profit after non-controlling interests +29% Y/Y to EUR 4.60bln. (Newswires)

Renault (RNO FP) - Co. backs a moratorium on deep-sea mining for battery metals. (Newswires)

OTHER FRENCH COMPANIES

BROKER MOVES

PAN EUROPE

ArcelorMittal (MT NA) - Q4 2021 (USD): Q4 EBITDA 5.05bln (exp. 5.2bln). Revenue 20.8bln (exp. 19.8bln). Net 4.05bln (prev. 1.21bln Y/Y). Co. expects strong FCF and EBITDA this year. Steel shipments 15.8Mt (prev. 17.3Mt Y/Y). Total group iron ore production 13.4Mt (prev. 15.3Mt). Co. is less upbeat on FY global steel consumption expectations. (Newswires/ArcelorMittal IR)

Unibail-Rodamco-Westfield (URW NA) - FY21 (EUR): Net Rental Income 1.724bln (prev. 1.790bln Y/Y). Recurring Net Result 1.005bln (prev. 1.057bln Y/Y). Co. says ongoing recovery in H2 with tenant sales approaching pre-COVID levels. Co. has agreed to the sale of a 45% stake in Westfield Carré Sénart for around EUR 1bln. Co. announced a joint venture with Societe Generale Assurances (GLE FP) and BNP Paribas Cardif (BNP FP). (GlobeNewswire/Yahoo Finance)

UniCredit (UCG IM) - Co. is set to sell around EUR 2bln in unlikely to pay loans to Prelios, according to Reuters. (Newswires)

BROKER MOVES

SMI

Credit Suisse (CSGN SW) - Q4 2021 (CHF): Revenue 4.58bln (prev. 5.2bln Y/Y). Pretax -522mln (prev. -88mln Y/Y). Net -2.01bln (prev. -353mln). Co. was impacted by the Archegos matter, goodwill impairment and litigation provisions. 2021 was a very challenging year for Credit Suisse, "2022 is going to be a transition year". Q4 litigation provision CHF 436mln, 2021 litigation provisions CHF 1.143bln (prev. 988mln Y/Y). Co. has no intentions of publishing the Greensill report. (Newswires)

Zurich Insurance (ZURN SW) - FY21 (USD): Net 5.2bln (prev. 3.83bln Y/Y). Business operating profit 5.74bln (prev. 4.24bln). ROE 16.4% (prev. 13.0% Y/Y). P&C Combined ratio 94.3% (prev. 98.4% Y/Y). Gross Written Premium 40.1bln (prev. 35.5bln). (Newswires)

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

GN Store Nord (GN DC) - FY21 (DKK): Revenue 15.8bln (prev. 13.5bln). EBITDA 643mln (prev. 41mln). EBITDA margin 12.1% (prev. 0.9% Y/Y). Organic growth +16% (prev. -24% Y/Y). (Newswires)

BROKER MOVES

US

CLOSES: S&P 500 +1.43% at 4,586, Nasdaq 100 +2.10% at 15,057, Dow Jones +0.86% at 35,768, Russell 2000 +1.57% at 2,080.

SECTORS: COMMUNICATION SVS +2.45%, REAL ESTATE +2.38%, TECHNOLOGY +2.31%, MATERIALS +2.13%, INDUSTRIALS +1.37%, CONS DISC +1.11%, HEALTH +0.82%, FINANCIALS +0.59%, ENERGY +0.51%, UTILITIES +0.44%, CONS STPL +0.02%.

Uber Technologies Inc (UBER) - Q4 2021 (USD): EPS 0.44 (exp. -0.35), Revenue 5.80bln (exp. 5.34bln). Monthly Active Users (MAU): 118mln (exp. 116.70mln). Gross bookings USD 25.87bln (exp. 25.67bln). Delivery bookings USD 13.44bln (exp. 13.62bln). Mobility bookings USD 11.34bln (exp. 11.25bln). Freight bookings USD 1.08bln (exp. 685.6mln)Trips 1.77bln (exp. 1.87bln). Sees Q1 adjusted EBITDA USD 100mln-130mln (exp. 150.2mln). Sees gross bookings USD 25bln-26bln (exp. 27.25bln). (Business Wire) Shares rose 5.8% after market

Walt Disney Co (DIS) - Q1 2022 (USD) Adj. EPS 1.06 (exp. 0.63), Revenue 21.8bln (exp. 20.91bln). Disney+ Paid Subscribers rose 11.8mln to 129.8mln (exp. 125.1mln). Media and Entertainment Distribution 14.59bln (exp. 14.59bln), Parks, Experiences and Products 7.23bln (exp. 6.13bln). (Business Wire) Shares rose 6.6% after market

10 Feb 2022 - 06:55- Energy- Source: Newsquawk