Newsquawk Daily European Equity Opening News - 28th August 2023

28th August 2023

ASIA

Asia-Pac stocks kicked off the week in the green, following a similar lead from Wall Street, which itself saw a choppy session but ultimately saw a positive close after Fed Chair Powell’s Jackson Hole comments. ASX 200 is supported by the energy and gold sectors whilst the broader mining sector is subdued by Fortescue Metals Group, which missed on net expectations and reported an impairment charge. Nikkei 225 was also supported by its Energy Sector, with the index just under the 32,000 mark throughout most of the session. Hang Seng and Shanghai Comp were boosted at the open with the Mainland posting gains north of 3% as markets reacted to Friday’s measures to boost investor confidence. In Hong Kong, China Evergrande slumped 80% after resuming trade following a year-and-a-half hiatus. US equity futures resumed electronic trade with modest gains across the board, which were later trimmed with the contracts ultimately trading flat.

EUROPEAN CLOSES

CLOSES: DAX +0.07% at 15,632, FTSE 100 +0.07% at 7,339, CAC 40 +0.21% at 7,230, Euro Stoxx 50 +0.07% at 4,235, IBEX 35 +0.15% at 9,339, FTSE MIB +0.49% at 28,208, SMI -0.18% at 10,957.

SECTORS: Utilities 0.70%, Energy 0.36%, Consumer Stpl 0.35%, Industrials 0.07%, Materials 0.02%, Consumer Disc 0.02%, Telecoms 0.00%, Financials -0.28%, Healthcare -0.43%, IT -0.72%

FTSE 100 - Closed for Bank Holiday

BP (BP/ LN) - Co. needs rapid and "just" energy transition, to invest up to 50% of its capital in energy transition by end of the decade, according to Reuters. (Reuters)

OTHER UK COMPANIES

BROKER MOVES

DAX

Bayer (BAYN GY) - Investor Artisan Partners is pushing for the Co. to de-merge its OCT and pharmaceuticals unit, also calls for eliminating its dividend, according to Reuters. (Reuters)

German Housing Names - Germany’s ruling Social Democratic Party will vote on a proposal to lower limits on rent increases in a bid to tackle inflation. The proposal calls for a three-year residential rent cap of 6%, according to Bild citing a draft resolution. (Bild) Of note for Deutsche Wohnen (DWNI GY)

OTHER GERMAN COMPANIES

ThyssenKrupp (TKA GY) - CEO of the Co's naval vessel maker Marine Systems has nudged Germany's government to take a stake in the Co., adding that the government could do this by awarding contracts and creating framework conditions, according to Bloomberg. (Bloomberg)

ThyssenKrupp Nucera (NCH2 GY) - Q3 (EUR): EBIT 7mln (prev. 4.4mln YY), Revenue 187.5mln (prev. 99mln YY). Expects continued strong sales growth in current fiscal year, expenses necessary organisational measures to weigh on EBIT margin. (Newswires)

BROKER MOVES

CAC

TotalEnergies (TTE FP) - Announced new measures to help French motorists; sets price ceiling of EUR 1.99/litre on diesel and petrol at French service stations. In other news, South Africa's Transnet sues the Co. and Sasol for ZAR 1.3bln. (Newswires/Business Live)

OTHER FRENCH COMPANIES

Casino (CO FP) - Update on grace periods relating to the notes issued by the Co. (Newswires)

Valneva (VLA FP) - Reports positive initial Phase 3 safety data in adolescents for its single-shot chikungunya vaccine candidate. (Newswires)

BROKER MOVES

PAN EUROPE

BROKER MOVES

SMI

UBS (UBSG SW) - Reportedly considers its first AT1 bond sale since the Credit Suisse deal, according to Bloomberg. (Bloomberg)

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

BROKER MOVES

US

CLOSES: SPX +0.67% at 4,405, NDX +0.85% at 14,941, DJIA +0.73% at 34,346, RUT +0.40% at 1,853.

SECTORS: Consumer Discretionary +1.1%, Energy +1.07%, Industrials +0.86%, Technology +0.82%, Utilities +0.78%, Health +0.6%, Consumer Staples +0.56%, Financials +0.34%, Real Estate +0.27%, Materials +0.27%, Communication Services +0.17%.

American Airlines (AAL) - Expect to welcome nearly 3.5mln customers across 32k flights in the labour day weekend. (Newswires)

28 Aug 2023 - 06:46- Research Sheet- Source: Newsquawk