Newsquawk Daily European Equity Opening News - 20th November 2023

20th November 2023

ASIA

Asia-Pac stocks were mostly positive albeit with gains capped amid the lack of fresh catalysts from over the weekend and as participants await this week’s key risk events including the FOMC minutes which will be released on Tuesday due to the holiday-shortened trading week stateside for Thanksgiving Day. ASX 200 (+0.1%) finished marginally higher as strength in energy and financials was partly offset by losses in utilities and miners, while a quiet data calendar further added to the non-committal mood. Nikkei 225 (-0.4%) swung between gains and losses in which an early rally saw the index climb above 33,850 and print its highest level since 1990, before wiping out all its gains and more. Hang Seng (+1.9%) and Shanghai Comp. (+0.5%) outperformed amid resilience in tech and with the property sector underpinned by support pledges, while China’s latest benchmark 1-year and 5-year Loan Prime Rates were unsurprisingly maintained at 3.45% and 4.20%, respectively.

EUROPEAN CLOSES

CLOSES: DAX +0.84% at 15,919.16, FTSE 100 +1.26% at 7,504.25, CAC 40 +0.91% at 7,233.91, Euro Stoxx 50 +0.85% at 4,339.15, AEX +0.62% at 758.59, IBEX 35 +0.97% at 9,761.40, FTSE MIB +0.82% at 29,498.43, SMI +0.89% at 10,737.37, PSI +0.53% at 6,280.56.

SECTORS: Energy 1.62%, Financials 1.39%, Healthcare 1.16%, Consumer Disc 1.04%, Materials 0.96%, Industrials 0.88%, Utilities 0.84%, Telecoms 0.59%, IT 0.49%, Consumer Stpl 0.15%

FTSE 100

Barclays (BARC LN) - Senior ministers flag concerns over foreign interest in The Telegraph, according to people familiar with the matter, via Bloomberg. This comes after news that Barclays are to repay its debt, GBP 1.1bln, to Lloyds (LLOY LN) and reclaim control over the newspaper. (Bloomberg)

OTHER UK COMPANIES

BROKER MOVES

Glencore (GLEN LN) downgraded to Equal Weight from Overweight at Morgan Stanley

Standard Chartered (STAN LN) upgraded to Buy from Neutral at Goldman Sachs

DAX

Bayer (BAYN GY) - Bayer Issues Voluntary Recall Nationwide of VITRAKVI® (larotrectinib) Oral Solution 20 mg/mL Due to Presence of Microbial Contamination. In other news, OCEANIC-AF study stopped early due to lack of efficacy. According to Reuters, a Missouri jury ordered Bayer to pay USD 1.56bln to four plaintiffs who claimed in its Roundup case. (Bayer/Reuters)

OTHER GERMAN COMPANIES

BROKER MOVES

CAC

OTHER FRENCH COMPANIES

BROKER MOVES

Worldline (WLN FP) downgraded to Neutral from Buy at Goldman Sachs

PAN EUROPE

Ferrovial (FER SM) - London Heathrow Airport experienced flight delays on Sunday 19th November, due to staff shortages and bad weather. (Newswires)

Travel Names / Eurostar - Dutch start-up Heuro is in talks to raise EUR 1bln in hopes to introduce its rail service within the next five years, to rival the Eurostar service, via The Telegraph. (The Telegraph)

BROKER MOVES

SMI

Julius Baer (BAER SW) - 10M Trading Update (CHF): AUM 435bln, +3% Y/Y. Group does not expect the FY23 net profit level to reach the one achieved in 2022. AUM increase was driven mainly by continued net new money inflows and a net positive global equity market performance. (Newswires)

Novartis (NOVN SW) - Showcases significant data updates from Kisqali, iptacopan and Scemmblix at SABCS and ASH. (Newswires)

Roche (ROG SW) - Roche launches next-generation qPCR system to advance clinical needs in molecular diagnostics and address public health challenges. (Roche)

OTHER SWISS COMPANIES

ams Osram (AMS SW) - Announced the terms of its fully underwritten Rights Issue, corresponds to expected gross proceeds of CHF 775mln. (Newswires)

BROKER MOVES

SCANDINAVIA

Yara (YAR NO) - Invests in CCS in Sluiskil and sings binding CO2 transport and storage agreement with Northern Lights. (Newswires)

BROKER MOVES

Wartsila (WRT1V FH) upgraded to Buy from Hold at Kepler Cheuvreux

US

CLOSES: SPX +0.13% at 4,513, NDX +0.03% at 15,838, DJI +0.01% at 34,947, RUT +1.35% at 1,798.

SECTORS: Energy +2.12%, Consumer Discretionary +0.73%, Industrials +0.59%, Financials +0.55%, Utilities +0.19%, Materials +0.17%, Consumer Staples -0.17%, Real Estate -0.19%, Health -0.19%, Technology -0.28%, Communication Services -0.47%.

OpenAI (MSFT) - Sees Sam Altman depart as CEO and leave the Board of Directors with search process underway to identify permanent successor. Sam Altman will not return as OpenAI CEO and Emmet Shear is the new interim CEO, according to The Information. (Newswires/The Information)

20 Nov 2023 - 06:48- EquitiesResearch Sheet- Source: Newsquawk