Newsquawk Daily European Equity Opening News - 1st December 2023
1st December 2023
ASIA
Asia-Pac stocks began the new month subdued with price action rangebound as markets paused following the November rally amid another busy day of economic releases, while the conflict in Gaza also resumed. ASX 200 (-0.2%) was dragged lower by underperformance in tech and consumer-related sectors amid the upside in yields. Nikkei 225 (-0.2%) traded indecisively as encouraging data releases, including a lower unemployment rate, offset the headwinds from early currency strength. Hang Seng (-0.8%) and Shanghai Comp. (-0.5%) were gradually pressured following the PBoC’s substantial net liquidity drain and failed to benefit from the surprise return to expansion territory of Chinese Caixin Manufacturing PMI.
EUROPEAN CLOSES
CLOSES: DAX +0.30% at 16,215.43, FTSE 100 +0.41% at 7,453.75, CAC 40 +0.59% at 7,310.77, Euro Stoxx 50 +0.24% at 4,381.15, IBEX 35 -0.04% at 10,058.20, FTSE MIB +0.16% at 29,737.38.
SECTORS: Energy 0.87%, Healthcare 0.83%, Financials 0.69%, Consumer Stpl 0.65%, Industrials 0.58%, Materials 0.45%, Telecoms 0.38%, Consumer Disc 0.33%, Utilities 0.29%, IT -0.21%
FTSE 100
OTHER UK COMPANIES
BROKER MOVES
Anglo American (AAL LN) upgraded to Buy from Neutral at UBS
Antofagasta (ANTO LN) downgraded to Hold from Buy at Jefferies
Legal & General (LGEN LN) downgraded to Underperform from Market Perform at Keefe Bruyette
Pearson (PSON LN) downgraded to Hold from Buy at Deutsche Bank
Tesco (TSCO LN) downgraded to Underweight from Neutral at JP Morgan
DAX
OTHER GERMAN COMPANIES
Bechtle (BC8 GY) – Launces an offering of up to EUR 300mln of convertible bonds. Intends to use proceeds to fund further growth incl. via acquisitions, alongside general corporate purposes. (Newswires) -5% in pre-market trade
BROKER MOVES
Metro (B4B GY) downgraded to Underweight from Neutral at JP Morgan Shares seen -2.6% in pre-market trade
CAC
Capgemini (CAP FP) - Names Nive Bhagat as CEO, effective Jan 1st. (Newswires)
Carrefour (CA FP) - Co. and Nexity reached a key milestone in their partnership; to which Carrefour is contributing an initial portfolio of 69 sites. (Newswires)
OTHER FRENCH COMPANIES
Air France (AF FP) – Co. and Apollo announce the upsizing and conclusion of quasi-equity financing, totalling EUR 1.5bln. (Newswires)
Casino (CO FP) - Received preliminary indicative offers from several purchases for different hypermarket and supermarket perimeters. (Newswires)
JC Decaux (DEC FP) - Majority-owned subsidiary JCDecaux top media and Grupo Publigrafik's outdoor advertising branch in Central America have merged. (Newswires)
BROKER MOVES
AXA (CS FP) upgraded to Outperform from Market Perform at Keefe Bruyette
LVMH (MC FP) downgraded to Equalweight from Overweight at Morgan Stanley
SocGen (GLE FP) downgraded to Sell from Neutral at Goldman Sachs
PAN EUROPE
Ferrovial (FER SM) - Co. to carry out a share buy-back programme of EUR 500mln. (Newswires)
Telecom Italia (TIT IM) – KKR is reportedly working to present a new offer for the Sparkle cable unit, via Reuters citing sources. (Newswires)
UCB (UCB BB) - Presents new data advancing patient-focused scientific leadership at the American Epilepsy Society Annual meeting. (Newswires)
BROKER MOVES
Aegon (AGN NA) upgraded to Market Perform from Underperform at Keefe Bruyette
KPN (KPN NA) downgraded to Equal Weight from Overweight at Morgan Stanley
SMI
Swiss Re (RUKN SW) - Targets FY24 Net > USD 3.6bln (prev. guidance USD 3bln) and multi-year ROE of >14%. (Newswires)
OTHER SWISS COMPANIES
Sandoz (SDZ SW) - Receives US FDA ANDA supplement 2 approval for Levetiracetam. (Newswires)
BROKER MOVES
SCANDINAVIA
Skanksa (SKAB SS) - Signs additional contract in USA for USD 106mln. (Newswires)
BROKER MOVES
Richemont (CFR SW) upgraded to Outperform from Market Perform at Bernstein
Storebrand (STB NO) upgraded to Market Perform from Underperform at Keefe Bruyette
US
CLOSES: SPX +0.38% at 4,567, NDX -0.25% at 15,947, DJIA +1.47% at 35,950, RUT +0.29% at 1,809.
SECTORS: Health +1.24%, Industrials +1.07%, Financials +1.01%, Materials +0.97%, Consumer Staples +0.84%, Real Estate +0.83%, Energy +0.63%, Utilities +0.4%, Technology -0.08%, Consumer Discretionary -0.17%, Communication Services -1.01%.
Disney (DIS) - Reinstates quarterly dividend of USD 0.30/shr. (Newswires)
Dell Technologies Inc (DELL) - Q3 2023 (USD): Adj. EPS 1.88 (exp. 1.47), Revenue 22.25bln (exp. 23. bln); revenue miss due to a slower-than-expected recovery in the hardware and software market. (Newswires)
01 Dec 2023 - 06:51- Research Sheet- Source: Newswires
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts