Newsquawk Daily European Equity Opening News - 24th December 2024

CHRISTMAS HOURS

Cash Index:

• 
  FTSE 100 – Markets closing process commences from 1230GMT/0730EST


• 
  Euronext Cash – Half day trading except from Milan and Olso which are closed


• 
  DAX – Closed


• 
  IBEX 35 - Trading will halt at 1300GMT/0800EST


• 
  FTSE MIB – Closed


• 
  SMI – Closed

ASIA

APAC stocks traded mostly firmer in choppy trade following a similar session on Wall Street, where stocks experienced volatility with low volumes amid the Christmas period. ASX 200 swung between modest gains and losses with earlier downside led by gold miners. The ASX showed little reaction to RBA minutes, which offered no significant new information. Nikkei 225 was initially supported by recent JPY weakening, but gains were shortlived as USD/JPY slipped back to session lows and eventually under 157.00. Hang Seng and Shanghai Comp were firmer and outperformed regionally despite a lack of significant macro newsflow, although China convened a national fiscal work conference in Beijing, according to the Ministry of Finance, and said they will step up fiscal spending and accelerate spending speed in 2025.

Nippon Steel (5401 JT) - High-level government review board has told White House it is unable to reach consensus on national security risks involved in Nippon Steel’s acquisition of US Steel (X), according to WaPo. White House spokesperson says they received the CFIUS evaluation and the President will review it. (Newswires)

EUROPEAN CLOSES

CLOSES: DAX -0.23% at 19,838, FTSE 100 +0.22% at 8,103, CAC 40 -0.03% at 7,272, Euro Stoxx 50 -0.22% at 4,852, AEX -0.37% at 872, IBEX 35 -0.28% at 11,436, FTSE MIB -0.08% at 33,740, SMI +0.88% at 11,492.

SECTORS: Healthcare 1.48%, Utilities 0.29%, Energy 0.18%, Financials 0.10%, Materials 0.07%, IT -0.11%, Telecoms -0.19%, Industrials -0.25%, Consumer Stpl -0.25%, Consumer Disc -0.58%

FTSE 100

Anglo American (AAL LN) - Chile's environmental regulator has filed four charges against Los Bronces copper mine, controlled by Anglo, for non-compliance with environmental permits. (Newswires)

Healthcare - US FDA revoked emergency use authorization for Eli Lilly's (LLY) bebtelovimab, AstraZeneca's (AZN LN) evusheld, Regeneron's (REGN) regen-cov, and GSK's (GSK LN) and Vir Biotechnology's (VIR) sotrovimab as of December 13th. (Newswires)

Hikma (HIK LN) - US FDA approves Hikma's generic version of Novo Nordisk's (NOVOB DC) diabetes drug Victoza. (Newswires)

OTHER UK COMPANIES

BROKER MOVES

DAX

HelloFresh (HFG GY) - Announces further up to EUR 75mln share buyback to run from Jan 2, 2025 to Dec 31 2025. (Newswires)

OTHER GERMAN COMPANIES

BROKER MOVES

CAC

OTHER FRENCH COMPANIES

Alstom (ALO FP) - Alstom signs two new services contacts in Europe for around EUR 760mln. (Newswires)

BROKER MOVES

PAN EUROPE

ASML (ASML NA) - ASML has sold Lego replicas of its advanced TWINSCAN EXE:5000 chip machines to employees, celebrating the company's 40th anniversary. The miniature models are not available to the public, despite social media calls for wider distribution, as they are intended as a fun employee-exclusive item. (BBG)

Enel (ENEL IM) - Finalises July 2024 partnership agreement with Masdar for a 2 GW operational photovoltaic portfolio in Spain. Transaction led to a reduction of group's net debt of around EUR 850mln, no impact on group economic results. (Newswires)

Leonardo (LDO IM) - Italy places order for up to 24 Typhoon Eurofighter jets. (Newswires)

Stellantis (STLAM IM/STLAP FP) - Co. to pay USD 4.2mln to resolve California emissions probe. (Newswires)

BROKER MOVES

SMI

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

BROKER MOVES

US

CLOSES: SPX +0.73% at 5,974, NDX +1.01% at 21,503, DJI +0.16% at 42,907, RUT -0.22% at 2,237.

SECTORS: Communication Services +1.35%, Technology +1.26%, Health +1.04%, Energy +0.61%, Real Estate +0.49%, Consumer Discretionary +0.42%, Utilities +0.39%, Financials +0.29%, Industrials -0.04%, Materials -0.12%, Consumer Staples -0.57%

Banks - The Fed announced that it plans significant changes to bank stress tests following recent legal rulings, including allowing lender input on models and scenarios. The adjustments aim to improve transparency without altering capital requirements. It follows increased industry pressure and legal challenges questioning federal regulatory authority. (Newswires)

Steel - Mexico imposed a 36.23% tariff on Vietnamese steel wire used for welding, citing harmful effects on local producers, Bloomberg reports. The tariff, effective for five years, follows allegations of "dumping" by Vietnam, and is part of Mexico’s broader effort to protect local industries. (Bloomberg)

Tesla (TSLA) - Cuts price of Model Y in China by CNY 10k. (Newswires)

24 Dec 2024 - 06:29- MetalsResearch Sheet- Source: Newsquawk