Newsquawk Daily European Equity Opening News - 30th August 2022

30th August 2022

The Daily European Equity Opening News is uploaded at 0700BST/0300EDT recapping all of the overnight equity news.

From 0700BST/0300EDT all equity news will be covered in real-time over the audio and headline feed and the full audio rundown will be at 0715BST/0315EDT.

There will be an additional audio rundown at 0750BST/0350EDT recapping any company news which has hit the wires since 0715BST/0215EDT ahead of the European equity open

European equity coverage will only cover companies in the STOXX 600 or companies of systemic importance to particular sectors.

ASIA

Asia-Pac stocks were somewhat mixed as most of the regional bourses recouped some of the prior day’s losses but with gains capped amid a slew of earnings releases and as participants look towards month-end, as well as the upcoming risk events, while sentiment in China was mired by COVID restrictions. ASX 200 (+0.8%) was led higher by the energy sector after recent gains in oil prices which printed a fresh monthly high and with strong earnings from Woodside Energy. Nikkei 225 (+1.2%) was the outperformer and reclaimed the psychologically key 28k level. Conversely, Hang Seng (-1.0%) and Shanghai Comp. (-0.6%) were negative with participants digesting plenty of earnings releases and amid further COVID-related disruptions as China's Dalian region limited movements for five days and Shenzhen ordered to close the Huaqiangbei subdistrict which is a global electronics sourcing centre.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.92% at 3,570; DAX -0.61% at 12,892; CAC 40 -0.83% at 6,222; IBEX 35 -0.92% at 7,989; FTSE MIB -0.24% at 21,841; SMI -0.36% at 10,902.

SECTORS: Energy 0.02%, Telecoms -0.12%, Materials -0.35%, Financials -0.48%, Consumer Disc -0.57%, Consumer Stpl -0.70%, Industrials -1.06%, Utilities -1.41%, Healthcare -1.47%, IT -2.37%

FTSE 100*

*Includes stories from Monday on account of the Bank Holiday.

AstraZeneca (AZN LN) - New data show Farxiga significantly lowers the risk of cardiovascular death in patients with heart failure. (AstraZeneca)

BAE Systems (BA/ LN) - Co. is said to be in the final phase of talk with the UK government over a multi-billion pound deal, according to The Telegraph. A contract is expected to be completed within the next few years. (Telegraph) Separately, United Steelworkers (USW) has given strike notice over unfair labor practises at a facility in Pennsylvania. (Newswires)

BHP (BHP LN) - Co. received resolutions for consideration at the 2022 AGM in which shareholders requested Co. advocate for Australian policy settings consistent with the Paris Agreement's objective of limiting global warming to 1.5 degrees Celsius. (Newswires)

BP (BP/ LN) - Co. said it is making significant progress and is working toward a phased restart of its Whiting refinery (435k BPD). It was later reported that the BP Whiting, Indiana refinery may begin restarting this week, according to Reuters sources.

BT (BT/A LN) - Co's EE has launched a GBP 24.6mln claim against Virgin Mobile after accusing it of a breach of contract. (Telegraph)

Energy Names - Almost half of UK Conservative party voters support the nationalisation of the UK energy industry, according to a YouGov poll conducted for The Times. (Times)

Flight Names – CAA data, analysed by PA Media, determined that Wizz Air (WIZZ AIR) was the worst performer for UK flight delays among peers in 2021, easyJet (EZJ LN) and Ryanair (RYA ID) were the most punctual. (Newswires)

FTSE 100 Reshuffle - Abrdn (ABDN LN) and Avast (AVST LN) are poised to be replaced by Fraser Group (FRAS LN) and Homeserve (HSV LN) in the FTSE 100. The reshuffle will be based on Tuesday's closing prices and will take effect mid-September. (CityAM)

HSBC (HSBA LN) - A report believed to have been commissioned by shareholder Ping An Insurance (8% stake) has increased pressure calling for a break-up, and suggested a “radical rethink of structure” is needed to improve performance. (Telegraph)

Next (NXT LN) - Co. has not received enough financial information to make a formal proposal for Joules (JOUL LN), and the two firms are not close to agreeing on a deal, according to sources cited by Sky News. (Sky News)

Oil Names - UK PM front-runner Truss will reportedly approve several North Sea oil and gas drilling licenses as part of energy security plans. (Times)

Rio Tinto (RIO LN) - A committee has warned that a major tailings dam at Co's former Panguna mine is at risk of failure. (The Australian)

Rolls-Royce (RR/ LN) - Co. is reportedly planning a charm offensive in Japan after the country last week pledged to build new nuclear plants in response to rising energy. Co. is said to have held tentative talks with Japanese officials according to sources. (Telegraph)

UK Homebuilders - Experts have warned that a "clogged up" planning system will lead to a slump in homebuilding. "The industry is braced of a 5% drop in housebuilding volumes in 2023." (Telegraph)

OTHER UK COMPANIES

BROKER MOVES

DAX

OTHER GERMAN COMPANIES

Adler (ADJ GY) - H2 2022 (EUR): FFO 0.42 (prev. 0.58 Y/Y). Rental Revenue EUR 130.8mln (prev. 174mln). Co. raises its FY22 FFO guidance to EUR 84-88mln (prev. 73-76mln), and raises Rental Income guidance to 233-242mln (prev. 203-212mln). Co. has named Thomas Echelmeyer as permanent CFO effective September 1st. Co. proposes no dividend. (Newswires)

BROKER MOVES

CAC

Engie (ENGI FP) - Executive says France has enough gas for an average winter. Engie in talks with Algeria's Sonatrach over long-term gas contracts, according to Bloomberg. (Newswires)

OTHER FRENCH COMPANIES

BROKER MOVES

PAN EUROPE

European Airline names - Airlines are reportedly braced for a grim winter as a slowdown threatens a recovery and has prompted warnings of a decline in passenger numbers, according to FT. (FT)

BROKER MOVES

SMI

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

BROKER MOVES

US

CLOSES: SPX -0.67% at 4,030, NDX -0.96% at 12,484, DJIA -0.57% at 32,099, RUT -0.89% at 1,883.

SECTORS: Technology -1.28%, Real Estate -0.87%, Communication Svs. -0.78%, Financials -0.76%, Health Care -0.70%, Materials -0.69%, Consumer Discretionary -0.54%, Industrials -0.44%, Consumer Staples -0.14%, Utilities +0.25%, Energy +1.54%.

30 Aug 2022 - 06:47- Research Sheet- Source: Newsquawk