Newsquawk Daily European Equity Opening News - 2nd November 2023

2nd November 2023

ASIA

Asia-Pac indices mostly followed suit to the gains on Wall St where stocks were lifted by soft data releases and after Fed Chair Powell’s post-FOMC press conference spurred a dovish reaction as he poured cold water over the September dot plots which had pointed to one more hike by year-end. ASX 200 (+0.9%) was higher with gains led by notable outperformance in tech and real estate amid a drop in yields. Nikkei 225 (+1.2%) briefly climbed above the 32,000 level with the biggest movers driven by earnings releases and automaker updates. Hang Seng (+1.0%) and Shanghai Comp. (-0.1%) were mixed with the Hong Kong benchmark boosted by a surge in tech and strength in property, while the mainland lagged after another substantial PBoC liquidity drain.

Mitsubishi Corp (8058 JT) - H1 (JPY) net fell 35.3% Y/Y to 466.1bln, Co. is to conduct a 3-for-1 share split as of December 31st. (Newswires)

EUROPEAN CLOSES

CLOSES: DAX +0.76% at 14,923.27, FTSE 100 +0.28% at 7,342.43, CAC 40 +0.65% at 6,930.43, Euro Stoxx 50 +0.73% at 4,090.85, IBEX 35 +0.64% at 9,075.00, FTSE MIB +0.88% at 27,985.44.

SECTORS: Healthcare 1.13%, Consumer Stpl 0.95%, Financials 0.86%, IT 0.85%, Consumer Disc 0.78%, Telecoms 0.56%, Utilities 0.53%, Industrials 0.26%, Materials 0.18%, Energy 0.13%

FTSE 100

Ex-Dividend - Whitbread (WTB LN) will trade without entitlement to its latest dividend payout. (Newswires)

Lloyds (LLOY LN) - Rejects latest GBP 1bln attempt by Barclay family to regain The Telegraph, according to FT. (FT)

OTHER UK COMPANIES

BROKER MOVES

DAX

Fresenius SE (FRE GY) - Q3 (EUR): adj. EBIT 519mln (prev. 480mln YY), Revenue 5.52bln (5.39bln YY). Raises FY23 EBIT guidance to "flat" (prev. guidance "flat to mid-single-digit decline"). (Newswires)

OTHER GERMAN COMPANIES

Deutsche Lufthansa (LHA GY) - Q3 (EUR): EBIT 1.47bln (exp. 1.47bln), Revenue 10.3bln (exp. 10.6bln). Notes very good summer demand has extended into October and demand for the Christmas period is strong. (Newswires)

Hugo Boss (BOSS GY) - Q3 (EUR): EBIT 103mln (prev. 92mln YY), Revenue 1.03bln (prev. 933mln YY). (Newswires)

Scout24 (G24 GY) - Q3 (EUR): EBITDA 78.1mln (exp. 72.5mln), Revenue 133mln (exp. 130mln). Raises FY23 EBITDA 19-21% (prev. guidance 18-19%), Trims Revenue +14% (prev. guidance 15%). (Newswires)

Zalando (ZAL GY) - Q3 (EUR): Revenue 2.3bln, -3.2% YY, Gross Merchandise Volume 3.2bln, -2.4%. Narrows FY23 Revenue 10-10.3bln. Shares -3.3% in pre-market trade (Newswires)

BROKER MOVES

CAC

OTHER FRENCH COMPANIES

Technip Energies (TE FP) – Q2 (EUR): adj. Revenue 1.57bln (exp. 1.55bln), adj. Recurring EBIT 110mln (exp. 106mln), adj. Order Intake 548mln (exp. 908mln). FY guidance confirmed. (Newswires)

BROKER MOVES

PAN EUROPE

Andritz (ANDR AV) - Q3 (EUR): Net 5mln (prev. -2.2mln YY), EBITA 176mln (prev. 153mln YY), Revenue 2.10bln (prev. 1.89bln YY). (Newswires)

AT&S (ATS AV) – Q2 (EUR): Revenue 452mln (exp. 447mln), adj. EBITDA 157mln (exp. 120mln). FY23/24 and FY26/27 guidance confirmed. (Newswires) +3.0% in pre-market trade

ING (ING NA) - Q3 (EUR): Net 1.98bln (exp. 1.87bln), adj. Pretax 2.87bln (exp. 2.63bln), Revenue 5.84bln (exp. 5.69bln). Net fee 909mln (exp. 897mln), CET1 Capital Ratio 15.2% (exp. 15%). Announces 2.5bln share buyback. Says announcement of share buyback as we continue to align our capital to our target level. Operating expenses remain under control and risk costs are low, reflecting strong asset quality. (Newswires)

BROKER MOVES

SMI

Geberit (GEBN SW) – Q3 (CHF): Sales 727mln (exp. 725mln), EPS 4.42 (exp. 4.14), EBITDA 222mln (exp. 217mln), Net Income 147mln (exp. 150mln). 9-month: Sales 2.39bln, -12.3%; Net Debt increased by 281mln. (Newswires)

Swisscom (SCMW SW) – 9-month (CHF): Sales 8.2bln (exp. 8.177bln), EBITDA 3.48bln (exp. 3.47bln), EBIT 1.7bln (exp. 1.68bln). (Newswires)

Zurich Insurance (ZURN SW) – Agreed to purchase a majority stake in Kotak Mahindra General Insurance for USD 487mln, to acquire a 51% stake. (Newswires)

OTHER SWISS COMPANIES

Adecco (ADEN SW) - Q3 (EUR): EPS 0.85 (exp. 0.75), adj. EBITA 235mln (prev. 215mln YY), Revenue 5.96bn (prev. 6.04bln YY). Notes volumes were resilient. (Newswires)

Dufry (DUFN SW) - Q3 (CHF): Revenue 3.67bln (prev. 2.12bln YY). Says Q4 started equally strong thanks to resilient demand for Travel, Retail, Food and beverage and strong execution. (Newswires)

Sandoz (SDZ SW) - Receives US FDA ANDA tentative agreement for Apalutamide. (Newswires)

BROKER MOVES

SCANDINAVIA

DKSH (DKSH SS) – Acquires Bio-Strategy, strengthening business in the Antipodeans. (Newswires)

Kojamo (KOJAMO FH) - Q3 (EUR): FFO 48.5mln (prev. 48.6mln YY), Adj. EBITDA 73.8mln (prev. 69.3mln YY), Revenue 112mln (prev. 105mln YY). Trims FY23 Total Revenue +7-8% (prev. guidance +7-9%). Raises FFO 162-168mln (prev. guidance 158-167mln). (Newswires)

Novo Nordisk (NOVOB DC) - Q3 (DKK): Net Sales 58.7bln (exp. 57.2bln), EBIT 26.9bln (exp. 25.2bln), Wegovy sales 9.6bln (prev. 1.15bln). Sees continued periodic supply constraints and related drug shortage notifications across a number of products and geographies, Wegovy supply of the lower dose strength in the US will remain restricted to safeguard continuity of care. Elsewhere, has hired Fujifilm Diosynth Biotechnologies to fill Wegovy injection pens, according to a Reuters source. (Newswires/Reuters)

BROKER MOVES

Boliden (BOL SS) downgraded to Sell from Hold at Berenberg

Orsted (ORSTED DC) upgraded to Buy from Hold at DNB Markets

US

CLOSES: SPX +1.05% at 4,237, NDX +1.77% at 14,664, DJIA +0.67% at 33,274, RUT +0.45% at 1,669.

SECTORS: Technology +2.08%, Communication Services +1.84%, Consumer Discretionary +1.44%, Utilities +1.11%, Financials +0.63%, Real Estate +0.51%, Industrials +0.33%, Health +0.19%, Materials +0.1%, Consumer Staples -0.06%, Energy -0.33%.

Airbnb Inc (ABNB) - Q3 2023 (USD): EPS 6.63 (exp. 2.10), Revenue 3.40bln (exp. 3.37bln). (Newswires)

Delta (DAL) - Lays off some corporate workers to reduce costs, according to CNBC. (CNBC)

Disney (DIS) - To purchase the remaining stake in Hulu from Comcast, DIS expects to pay NBCU approximately USD 8.61bln. (Newswires)

Qualcomm Inc (QCOM) - Q4 2023 (USD): Adj. EPS 2.02 (exp. 1.91), Revenue 8.67bln (exp. 8.51bln). Q1 Adj. EPS view 2.25-2.45 (exp. 2.23), Q1 Revenue view 9.1-9.9bln (exp. 9.2bln). Announces Apple (AAPL) chip supply agreement. (Newswires) Shares +3.8% in after-hours.

02 Nov 2023 - 06:48- Research Sheet- Source: Newsquawk