Newsquawk Daily European Equity Opening News - 11th May 2022

The Daily European Equity Opening News is uploaded at 0700GMT/0300EDT recapping all of the overnight equity news.

From 0700GMT/0300EDT all equity news will be covered in real-time over the audio and headline feed and the full audio rundown will be at 0715GMT/0315EDT.

There will be an additional audio rundown at 0750GMT/0350EDT recapping any company news which has hit the wires since 0715GMT/0215EDT 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

APAC stocks traded mixed following the choppy performance on Wall Street. ASX 200 was subdued and briefly fell below the 7,000 level with sentiment dampened by weak Consumer Confidence data. Nikkei 225 swung between gains and losses with the biggest movers driven by recent earnings releases. Hang Seng and Shanghai Comp were both initially lacklustre as property developer Sunac faces its grace period deadline for a dollar bond interest payment and with participants digesting the latest firmer than expected CPI and PPI data from China, although Chinese markets then strengthened amid speculation of policy easing in Q2 and positive signs from the COVID situation in Shanghai.

Toyota (7203 JT) - FY21/22 net JPY 2.85tln (prev. JPY 2.25tln Y/Y), Revenue JPY 31.4tln (prev. JPY 27.2tln Y/Y). Co. announces JPY 200bln share buyback. (Newswires) Shares fell 4.20% in Tokyo.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +0.79% at 3,554; FTSE 100 +0.37% at 7,243; DAX +1.15% at 13,534; CAC 40 +0.51% at 6,116; IBEX 35 0.00% at 8,139; FTSE MIB +1.04% at 23,069; SMI +0.85% at 11,541.

SECTORS: Consumer Goods 1.34%, Financial Services 1.00%, Healthcare 0.99%, Industrials 0.63%, Technology 0.52%, Telecoms 0.51%, Utilities 0.45%, Consumer Services 0.35%, Energy 0.15%, Basic Materials -0.07%

FTSE 100

OTHER UK COMPANIES

BROKER MOVES

DAX

Brenntag (BNR GY) - Q1 2022 (EUR): Revenue 4.53bln (prev. 3.1bln Y/Y). EBITDA 463mln (prev. 300mln). EPS 1.61 (prev. 0.63). (Newswires)

EON (EOAN GY) - Q1 2022 (EUR): Revenue 29.5bln (prev. 18.4bln Y/Y). Adj. EBIT 2.0bln (prev. 1.7bln). Adj. Net 679mln (prev. 800mln). Co. affirms its adj. net and adj. EBIT guidance. (Newswires)

OTHER GERMAN COMPANIES

Evotec (EVT GY) - Q1 2022 (EUR): Revenue 164.7mln (prev. 133.1mln). Adj. EBITDA 18.9mln (prev. 21.1mln). Co. affirms its forecasts. (Newswires)

Thyssenkrupp (TKA GY) - Q2 2022 (EUR): Revenue 10.6bln (exp. 9.44bln). Adj. EBIT 802mln (exp. 576.4mln). Co. raises FY revenue and earnings forecasts. (Newswires)

BROKER MOVES

CAC

OTHER FRENCH COMPANIES

BROKER MOVES

PAN EUROPE

Auto Names - Elon Musk said it is highly unlikely Tesla (TSLA) would buy another carmaker; does not see a great deal of merit in combining Tesla, SpaceX, and other operations under one umbrella. (FT)

Iberdrola (IBE SM) - Co. launches a share buyback programme of maximum 0.233% of share capital for redemption; will reach up to 15mln shares, with maximum pecuniary amount allocated being EUR 195mln, commencing May 11th until June 10th. (Newswires)

Leoni (LEO GY) - Final Q1 2022 (EUR): Revenue 1.26bln (prelim. 1.26bln). EBIT -17mln (prelim. -17mln). (Newswires)

Pirelli (PIRC IM) - Q1 2022 (EUR): Revenue 1.52bln (exp. 1.44bln), Adj. EBIT 228.5mln (exp. 211mln). Cuts FY22 adj. EBIT margin to 15% (prev. 16.0-16.5%). Raises FY22 revenue view to 5.9-6.0bln (prev. 5.6-5.7bln). 2022 macro economic outlook held back by geopolitical tensions, inflation and a fall in demand due to lockdown in China. CEO expects lockdown in China to last until the end of June and cautiously hopes situation will get better in H2. (Newswires)

Salvatore Ferragamo (SFER IM) - Q1 22 (EUR): Revenue 289mln (exp. 273mln). (Newswires)

BROKER MOVES

SMI

Roche (ROG SW) - Study evaluating tiragolumab plus Tecentriq did not meet its co-primary endpoint of progression-free survival. The tiragolumab development programme continues as planned in non-small cell lung cancer and other cancer types. (Roche)

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Swedish Match (SWMA SS) - Philip Morris is to buy Swedish Match for SEK 106/shr in cash. (Newswires) Swedish Match closed at SEK 95 (+24.9%) on Tuesday

BROKER MOVES

US

CLOSES: SPX +0.26% at 4,001, NDX +1.30% at 12,345, DJIA -0.26% at 32,160, R2K +0.26% at 1,761.

SECTORS: Technology +1.58%, Energy +0.93%, Communication Services +0.84%, Health +0.33%, Consumer Discretionary -0.3%, Materials -0.59%, Industrials -0.65%, Consumer Staples -0.76%, Financials -0.8%, Utilities -1.24%, Real Estate -2.29%.

Coinbase Global, Inc. (COIN) Q1 2022 (USD): EPS -1.98 (exp. 0.18), Revenue 1.17bln (exp. 1.48bln); monthly transacting users 9.2mln (exp. 9.5mln). (Newswires) Shares fell 15.7% after-market.

11 May 2022 - 06:46- EquitiesData- Source: Newsquawk