Newsquawk Daily European Equity Opening News - 17th May 2022

17th 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 were positive but with gains capped after the uninspiring lead from Wall St and growth concerns. ASX 200 was kept afloat by strength in the commodity-related sectors after recent gains in underlying prices. Nikkei 225 traded marginally higher with Japan seeking to pass an extra budget by month-end and will begin permitting entry to a small number of tourists. Hang Seng and Shanghai Comp were both firmer with tech spearheading the outperformance in Hong Kong amid hopes of an easing of the crackdown on the sector, while the mainland lagged amid economic concerns and despite Shanghai reporting no cases outside of quarantine for a 3rd consecutive day.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.49% at 3,685; FTSE 100 +0.65% at 7,466; DAX -0.45% at 13,964; CAC 40 -0.23% at 6,347; IBEX 35 +0.19% at 8,353; FTSE MIB -0.06% at 24,033; SMI +0.33% at 11,688.

SECTORS: Basic Materials 1.58%, Utilities 1.43%, Energy 1.09%, Consumer Services 0.78%, Healthcare 0.70%, Telecoms -0.03%, Financial Services -0.24%, Consumer Goods -0.43%, Industrials -0.81%, Technology -1.35%

FTSE 100

Reckitt Benckiser (RKT LN) - President of the nutrition unit said they have not raised baby formula prices since the recall. (Newswires)

OTHER UK COMPANIES

BROKER MOVES

Unilever (ULVR LN) downgraded to Sell from Buy at SocGen

DAX

OTHER GERMAN COMPANIES

Daimler Trucks (DTG GY) - Q1 2022 (EUR): Revenue 10.551bln (prev. 9.023bln). Adj. EBIT 651mln (prev. 588mln). Co. raises its FY revenue forecast to EUR 48-50bln (prev. 45.5-47.5bln). Unit sales 109,286 (prev. 101,364). (Daimler Trucks)

BROKER MOVES

CAC

Vinci (DG FP) - April autoroute traffic +55.7% Y/Y (-2.8% vs 2019). (Newswires)

OTHER FRENCH COMPANIES

BROKER MOVES

PAN EUROPE

Caixabank (CBK SM) - Co. announced its 2022-24 strategy: targets profitability of over 12% by 2024. Board has approved a buyback of EUR 1.8bln. (Newswires)

EU Internal Combustion Engine Ban – Multiple companies including Unilever (ULVR LN), Sanofi (SAN FP) and Zurich (ZURN SW) have written to MEPs and Ministers, calling for the EU to ban the sale of such vehicles from 2035. (FT)

BROKER MOVES

SMI

Logitech (LOGN SW) - Co. proposes to raise its dividend by 10%. (Newswires)

OTHER SWISS COMPANIES

Sonova (SOON SW) - FY21 (CHF): Revenue 3.36bln (prev. 2.60bln Y/Y). Co. raises annual dividend by 37.5%. EPS 10.76 (prev. 7.71). Adj. EBITDA 844.4mln (prev. 603mln). (Newswires)

BROKER MOVES

SCANDINAVIA

Securitas (SECUB SS) - Q1 2022 (SEK): Revenue 28.6bln (prev. 25.8bln Y/Y). EBITDA 1.45bln (prev. 1.26bln). Adj. EPS 2.30 (prev. 2.11). (Newswires)

BROKER MOVES

US

CLOSES: SPX -0.34% at 4,010, NDX -1.16% at 12,243, DJIA +0.08% at 32,223, RUT -0.31% at 1,784.

SECTORS: Consumer Discretionary -2.12%, Technology -0.91%, Real Estate -0.8%, Financials -0.78%, Communication Services -0.59%, Materials -0.19%, Industrials -0.17%, Utilities +0.33%, Consumer Staples +0.45%, Health +0.69%, Energy +2.62%.

Elon Musk said a viable Twitter (TWTR) deal is "not out of question" at a lower price. (Newswires) Shares closed lower by 8.2%

17 May 2022 - 06:47- EquitiesResearch Sheet- Source: Newsquawk