Newsquawk Daily European Equity Opening News - 11th 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 stocks declined following the headwinds from US including 40-yr high inflation and hawkish comments from Fed's Bullard who favours 100bps of increases by July 1st with a 50bps lift off next month and suggested the Fed should consider inter-meeting rate increases. This saw the 10yr yield climb to above 2.0% and resulted in markets pricing in a greater chance of a more aggressive lift off in March with the CME FedWatch Tool currently showing a 98.6% probability for a 50bps point hike at next month’s meeting, while Goldman Sachs now sees 7 rate hikes by the Fed this year. ASX 200 (-0.7%) was pressured with tech leading the declines as the sector suffered the brunt of the higher yield environment. Nikkei 225 was closed for holiday and the KOSPI (-0.9%) was subdued after another day of record COVID-19 cases and following a couple of chaebol earnings releases from LG Corp and Lotte Corp. Hang Seng (-0.7%) and Shanghai Comp. (-0.2%) were also pressured but with losses in the mainland stemmed after the recent stronger than expected Aggregate Financing data from China and with press reports speculating that the PBoC could ease again next week.

EUROPEAN CLOSES

CLOSES: EURO STOXX 50 -0.2% at 4,197, FTSE 100 +0.4% at 7,672, DAX 40 +0.1% at 15,490, CAC 40 -0.4% at 7,101, FTSE MIB +0.2% at 27,190, IBEX 35 +0.5% at 8,886, SMI -0.5% at 12,300.

SECTORS: Basic Materials 0.94%, Consumer Services 0.34%, Healthcare 0.04%, Industrials 0.01%, Utilities -0.03%, Energy -0.21%, Financial Services -0.33%, Telecoms -0.42%, Technology -1.05%, Consumer Goods -1.13%

FTSE 100

AstraZeneca (AZN LN) - AstraZeneca ADRs will replace Xilinx (XLNX) in the Nasdaq 100 Index and Nasdaq 100 Equal Weighted Index. (Newswires)

Deliveroo (ROO LN) - Co. will trial a rapid delivery "Hop" service with Waitrose with a London delivery-only store to open this month. (Newswires)

OTHER UK COMPANIES

Carnival (CCL) - Co. announced Princess Cruises will do its first-ever summer season sailing to Mexico, Hawaii and the California coast roundtrip from LA. (PR Newswire)

BROKER MOVES

Smiths (SMIN LN) upgraded to Buy from Hold at Jefferies

Weir (WEIR LN) upgraded to Buy from Hold at Jefferies

DAX

OTHER GERMAN COMPANIES

Carl Zeiss (AFX GY) - Q1 2022 (EUR): EUR 410mln (prev. 368.9mln Y/Y). EBIT Margin +18% (prev. 19.9% Y/Y). (Newswires)

Knorr-Bremse (KBX GY) - Reinhard Ploss has been named as chairman. (Newswires)

Fraport (FRA GY) - Frankfurt passengers +150% Y/Y in Jan. (Newswires)

BROKER MOVES

Brenntag (BNR GY) initiated with Buy at SocGen

CAC

AXA (CS FP) - Co. has completed the sale of its Singapore unit for EUR 463mln. (Newswires)

OTHER FRENCH COMPANIES

Atos (ATO FP) - Atos simplified its governance to accelerate a return to growth. (GlobeNewswire)

Groupe SEB (SK FP) - Following the proposal from the Chairman of the Board of Directors, the Board decided to separate the Chairman and Chief Executive Officer positions. (Businesswire)

Euronext (ENX FP) - Q4 2021 (EUR): Revenue 370.1mln (exp. 363mln), EBITDA 208.2mln (exp. 207mln). Co. achieved over 40% growth in revenue and EBITDA in 2021, according to its CEO. (Newswires)

Ipsen (IPN FP) - FY21 (EUR): Revenue 2.87bln (prev. 2.59bln). Core net 758.1mln (prev. 610.5mln Y/Y). Operating profit 1.01bln (prev. 829.3mln). Core operating margin 35.2% (prev. 32.0% Y/Y). (Newswires)

Rexel (RXL FP) - FY21 (EUR): Revenue 14.7bln (prev. 12.6bln Y/Y). Adj. EBITDA 906mln (prev. 526.4mln Y/Y). Net 597.6mln (prev. -261.3mln Y/Y). Q4 revenue 4.08bln (exp. 3.95bln). (Newswires)

BROKER MOVES

PAN EUROPE

Unipol Gruppo Finanziario (UNI IM) - FY21 (EUR): Adj. Net 796mln (exp. 685mln). Revenue 15.1bln (prev. 14.3bln Y/Y). (Newswires)

BROKER MOVES

ABN AMRO (ABN NA) downgraded to Underweight from Neutral at JPMorgan Chase

SMI

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Maersk Drilling (DRLCO DC) - FY21 (USD): Revenue 1.27bln (exp. 1.18bln). EBITDA 346mln (exp. 315mln). Revenue backlog 1.9bln (prev. 1.5bln Q/Q). (Newswires)

Schibsted (SCH NO) - Q4 2021 (NOK): Revenue 3.94bln (prev. 3.62bln Y/Y). EBITDA 634mln (prev. 665mln Y/Y). (Newswires)

Sweco (SWECA SS) - Q4 2021 (SEK): EBITDA 585mln (exp. 573mln). (Newswires)

Volvo (VOLVB SS) - Q4 2021 (SEK): Revenue 80.1bln (exp. 76.17bln). Operating Income 3.70bln (exp. 4.57bln). Retail Sales -20% Y/Y. Electrified range accounted for 34% of sales. (Newswires)

BROKER MOVES

GN Store Nord (GN DC) upgraded to Overweight from Neutral at JPMorgan Chase

US

CLOSES: SPX -1.81% at 4504, NDX -2.33% at 14705, DJIA -1.47% at 35241, RUT -1.55% at 2051

SECTORS: Real Estate -2.86%, Technology -2.75%, Utilities -2.61%, Consumer Discretionary -1.78%, Industrials -1.65%, Health Care -1.57%, Communication Svs -1.41%, Consumer Staples -1.03%, Financials -0.85%, Energy -0.68%, Materials -0.57%.

11 Feb 2022 - 06:47- Data- Source: Newsquawk