Newsquawk Daily European Equity Opening News - 15th November 2024

ASIA

APAC stocks traded with a predominantly positive bias albeit with gains capped following the uninspiring handover from Wall Street and as participants digested recent earnings releases and mixed Chinese activity data. ASX 200 was led by outperformance in Utilities and with gains in nearly all sectors aside from Healthcare amid headwinds for the latter following pressure in the industry stateside after US President-elect Trump picked vaccine sceptic RFK Jr as HHS Secretary. Nikkei 225 rallied on the back of recent currency weakness and with outperformance seen in some financial names after Japanese megabanks' earnings results, while GDP data was mostly either inline or better than expected. Hang Seng and Shanghai Comp saw mixed price action throughout the day after various data releases in which Industrial Production disappointed but Retail Sales topped forecasts, while Chinese Home Prices showed a steeper Y/Y drop although the M/M decline moderated. Participants also digested tech earnings and the PBoC's largest daily liquidity injection via reverse repos in over four years which is meant to counteract factors including maturing MLF loans and tax payments.

BHP (BHP AT) - Brazilian court cleared BHP, Vale and their Samarco JV in the criminal case related to the deadly dam collapse. (The Australian)

Lenovo (992 HK) - Q2 (USD) net 359mln (exp. 343mln), rev. 17.85bln (exp. 16.00bln). (Newswires)

EUROPEAN CLOSES

CLOSES: DAX: +1.37% at 19,264, FTSE 100: +0.51% at 8,071, CAC 40: +1.32% at 7,312, Euro Stoxx 50: +1.98% at 4,834, AEX: +1.33% at 874, IBEX 35: +1.29% at 11,524, FTSE MIB: +1.93% at 34,358, SMI: +0.73% at 11,789, PSI: +1.27% at 6,375.

SECTORS: IT 3.43%, Telecoms 1.97%, Energy 1.60%, Utilities 1.57%, Consumer Disc 1.37%, Financials 1.09%, Industrials 0.86%, Consumer Stpl 0.74%, Materials 0.32%, Healthcare 0.03%

FTSE 100

OTHER UK COMPANIES

ConvaTec (CTEC LN) - Expects temporary exclusions from Medicare LCDs. FY24 and FY25 guidance unchanged. (Newswires)

BROKER MOVES

DAX

Bayer (BAYN GY) - Shareholders called for the CEO to take more decisive action amid the recent stock rout. (Newswires)

OTHER GERMAN COMPANIES

Evotec (EVT GY) - Received a non-binding takeover offer from Halozyme (HALO) at EUR 11/shr. (Newswires) Shares +19.9% in pre-market trade

BROKER MOVES

CAC

Sanofi (SAN FP) - Sarclisa recommended for EU approval by the CHMP to treat transplant-ineligible newly diagnosed multiple myeloma. Dupixent sBLA accepted for FDA review for the treatment of chronic spontaneous urticaria. (Sanofi)

OTHER FRENCH COMPANIES

Neoen (NEOEN FP) - Won 164 MWP of solar projects in France. (Newswires)

BROKER MOVES

PAN EUROPE

Aegon (AGN NA) - FY guidance raised to around EUR 1.2bln. Expects new buyback program of EUR 150mln to begin in Jan 2025 and completed in H1'25. (Newswires)

Acciona (ACA SM) - Energy total production at 19,757 GWH. Maintains expectations of around EUR 2bln in EBITDA. (Newswires)

Colonial (COL SM) - 9m (EUR): EBITDA 240.7mln. Expect to exceed the upper range of its EPS guidance for 2024. (Newswires)

China-exposed stocks - Retail Sales YY (Oct) 4.8% vs. Exp. 3.8% (Prev. 3.2%); Industrial Output YY (Oct) 5.3% vs. Exp. 5.6% (Prev. 5.4%); Unemp Rate Urban Area (Oct) 5.0% (Prev. 5.1%). (Newswires)

DSM-Firmenich (DSFIR NA) - To sell part of its stake in Robertet. (Newswires)

Energy names - BP (BP/ LN), Shell (SHEL LN) and TotalEnergies (TTE FP) join forces to help increase access to energy; cos come together to with USD 500mln joint investment commitment. (Newswires)

Healthcare names - US President-elect Trump confirms he picks RFK Jr to be Health and Human Services Secretary. (Newswires)

Generali (G IM) - 9m (EUR): Net Profit 2.96bln (Co. consensus 2.8bln), Adj. Net Profit 2.88bln (Co. consensus 2.75bln). Impact from natural catastrophes at EUR 930mln. (Newswires)

Tech names - Samsung Electronics (005930 KS) closed +7.2% in overnight trade; news overnight included: Co. reached prelim. wage deal with its labour union. (Newswires)

BROKER MOVES

SMI

OTHER SWISS COMPANIES

Sandoz (SDZ SW) - Received European Commission approval for Afqlir (aflibercept), further strengthening leading biosimilar portfolio. (Sandoz)

BROKER MOVES

SCANDINAVIA

Novo Nordisk (NOVOB DC) - Soros Fund Management dissolves its stake in the Co. (Newswires)

BROKER MOVES

US

CLOSES: SPX -0.60% at 5,949, NDX -0.66% at 20,897, DJIA -0.47% at 43,751, RUT -1.37% at 2,337

SECTORS: Industrials -1.69%, Consumer Discretionary -1.54%, Health -1.54%, Real Estate -0.93%, Materials -0.7%, Communication Services -0.66%, Utilities -0.38%, Financials -0.26%, Consumer Staples -0.22%, Technology +0.05%, Energy +0.14%.

Applied Materials Inc (AMAT) - Q4 2024 (USD): EPS 2.32 (exp. 2.19), Revenue 7.05bln (exp. 6.95bln). Forecasts Q1 net sales about USD 6.75bln-7.55bln (exp. 7.25bln). (Newswires)

EV Names - Trump transition plans to kill USD 7.5k consumer tax credit for EVs, according to Reuters sources; Tesla (TSLA) representatives support ending EV subsidy. (Newswires) EV names sliding after the report, RIVN, TSLA, GM, F all seeing downside.

Nike (NKE) - Raises quarterly dividend by to USD 0.40/shr from USD 0.37/shr. (Newswires)

15 Nov 2024 - 06:52- Fixed IncomeData- Source: Newsquawk