Newsquawk Daily European Equity Opening News

18th December 2023

ASIA

APAC stocks traded mostly negatively following a weekend heavy with geopolitical headlines and as markets look to wind down for the Christmas break. ASX 200 saw losses in the Gold and Energy sectors somewhat cushioned by modest gains in Tech. Nikkei 225 fell at the open with the deepest losses seen in Real Estate and Financial stocks, although the index trimmed losses after finding support near 32,500, whilst traders also look ahead to the BoJ announcement on Tuesday. Hang Seng and Shanghai Comp were lower with the former seeing losses in Financials and Property stocks, whilst the latter was initially cushioned with PBoC resuming cash injections via 14-day reverse repos to meet year-end liquidity demands.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 4549, +0.2%; DAX 166751, U/C; CAC 40 7596, +0.3%; AEX 793, +0.4%; IBEX 35 10095, -0.8%; FTSE MIB 30373. 0.1%; FTSE 100 7576, -1.0%.

SECTORS: IT 1.07%, Materials 0.70%, Industrials 0.52%, Consumer Stpl 0.03%, Consumer Disc 0.00%, Financials -0.10%, Utilities -0.52%, Energy -0.53%, Healthcare -0.67%, Telecoms -0.74%.

FTSE 100

Anglo American (AAL LN) - The Times carries a piece titled 'Mined diamonds are no longer a girl’s best friend', and notes that the emergence of synthetic lab-grown gems has dented the traditional mining powerhouses such as De Beers owner Anglo American. (Times)

Entain (ENT LN) - Reportedly in talks to give a board seat to Eminence Capital's Ricky Sandler, according to sources; expected to be announced by end-2023. (Sunday Times)

Frasers (FRAS LN) - Reportedly in talks to acquire Marchesfashion for GBP 100mln. (Sky News)

Hikma Pharma. (HIK LN) - Receives US FDA ANDA supplemental approve 16, 17 for Oxymorphone Hydrochloride. (Newswires)

National Grid (NG/ LN) - Co. has, following government advice, abandoned a supply contract with NR Electric and is believed to be removed parts supplied by them. NR Electric is owned by Nari Technology, which is under the control of China's state operator. (Telegraph)

Rolls-Royce (RR/ LN) - In discussions with Ukraine's DTEK to construct small modular nuclear reactors within the nation at sites which currently have coal power stations, via The Telegraph. (Telegraph)

OTHER UK COMPANIES

Metro Bank (MTRO LN) - Board has decided to retain its residential mortgage portfolio; had been considering a sales of up to GBP 3bln, but decided it is in shareholder interest to retain the portfolio. (Newswires)

THG (THG LN) - Sir Tom Hunter has described the Co. as world class and added to his holdings in the firm when the share price went below GBP 0.50/shr in 2022. (Times)

BROKER MOVES

Mondi (MNDI LN) downgraded to Neutral from Buy at UBS

DAX

OTHER GERMAN COMPANIES

Ceconomy (CEC GY) - FY (EUR): Revenue 22.2bln (exp. 22.1bln), adj. EBIT 243mln (exp.174mln). Customer club members at 39mln. FY24 guidance: slight increase in total sales and a significant improvement in adj. EBIT. (Newswires)

BROKER MOVES

Deutsche Boerse (DB1 GY) upgraded to Buy from Neutral at UBS

CAC

OTHER FRENCH COMPANIES

Casino (CO FP) - Carrefour (CA FP) has reportedly offered to acquire the network of around 7k small local stores from Casino for circa. EUR 500-600mln. (Les Echos)

Eurazeo (EO FP) - Co. has entered into exclusive discussions with Carl Zeiss (AFX GY) to sell the stake in D.O.R.C; for circa. EUR 1bln. On the transaction closing, EUR 385mln would be returned to Eurazeo's balance sheet. (Newswires)

BROKER MOVES

PAN EUROPE

AB InBev (ABI BB) - Teamsters has voted to authorise 5k member nationwide strike at 12 US breweries in the scenario that they fail to come to an agreement. (Newswires)

DiaSorin (DIA IM) - Guides initial FY24 Revenue 5-7%, adj. EBITDA margin 32-33%. (Newswires)

KBC Groep (KBC BB) - Frederik Vandepitte as new CEO from February 2024. (Newswires)

Luxury Names - Cautious mention for luxury names in Bloomberg; says luxury stocks like LVMH anticipate a reversal in 2024 after China's 2023 consumer splurge weakened, but analysts see a slow start to 2024, though do expect a stronger second half, hinging on revived Chinese demand critical for luxury market recovery. (Newswires)

UCB (UCB BB) - Receives US FDA NDA supplemental 13 approval for Fintepla. (Newswires)

BROKER MOVES

SMI

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

BROKER MOVES

18 Dec 2023 - 06:50- EquitiesExclusive- Source: Newsquawk