Newsquawk Daily European Equity Opening News - 3rd November 2023
3rd November 2023
ASIA
Asia-Pac stocks traded higher as the regional bourses tracked the advances in global peers after the BoE kept rates unchanged and a surprise decline in US Labour Costs added to the dovish impulse, while the holiday closure in Japan and disappointing Caixin Services PMI did little to derail the momentum. ASX 200 (+1.1%) was led higher again by tech and real estate as yields continued to ease, with sentiment also helped by the surprise expansion in quarterly retail trade. KOSPI (+1.0%) was underpinned as participants digested earnings releases including blockbuster results from SK Innovation. Hang Seng (+2.1%) and Shanghai Comp. (+0.7%) conformed to the broad upbeat mood and largely shrugged off weaker Chinese Caixin PMI data and another substantial liquidity drain by the PBoC.
EUROPEAN CLOSES
CLOSES: DAX +1.48% at 15,143.60, FTSE 100 +1.42% at 7,446.53, CAC 40 +1.85% at 7,060.56, Euro Stoxx 50 +1.92% at 4,170.35, IBEX 35 +2.04% at 9,260.40, FTSE MIB +1.77% at 28,479.39, SMI +0.86% at 10,594.40.
SECTORS: IT 2.88%, Consumer Disc 2.37%, Energy 2.14%, Industrials 2.06%, Materials 1.78%, Telecoms 1.44%, Utilities 0.98%, Financials 0.93%, Healthcare 0.90%, Consumer Stpl 0.84%
FTSE 100
OTHER UK COMPANIES
BROKER MOVES
DAX
BMW (BMW GY) - Q3 (EUR): PBT 4.063bln (prev. 4.10bln YY ), Revenue 38.458bln (prev. 37.176bln Y/Y), EBIT Margin 9.8% (prev. 8.9% Y/Y), Deliveries 621,699, +5.8% YY). Guides FY23 EBT "decrease significantly", Adj. EBT "higher YY" (Newswires)
Siemens Healthineers (SHL GY) - Considering options for its in-vitro diagnostics unit, which could be valued at up to USD 8bln, via Bloomberg. (Bloomberg)
Vonovia (VNA GY) - 9-month (EUR): adj. EBITDA 2.01bln, -4.7%; Net -3.8bln (prev. 2.2bln), Segment Revenue 4.23bln, -8.1%. Confirms FY guidance. Planning to increase investment volume in 2024, in particular energy upgrades. (Newswires)
OTHER GERMAN COMPANIES
BROKER MOVES
CAC
Axa (CS FP) - 9M (EUR): Revenue 78.8bln (exp. 79.0bln); Solvency 2 Ratio was 230% (exp. 231%). On track to achieve earnings target of above EUR 7.5bln for the year; strategic plan to be communicated on March 11, 2024. Total debt at year-end is expected to remain stable vs last year. (Newswires)
SocGen (GLE FP) - Q3 (EUR): Adj. Net 295mln (exp. 332mln), Op 1.51bln (prev. 2.06bln YY), Revenue 6.19bln (exp. 6.47bln). Lowers FY23 cost of risk < 20bps (prev. guidance 30-35bps). (Newswires)
OTHER FRENCH COMPANIES
Spie (SPIE FP) - 9M (EUR): EBITA 371.8mln (prev. 323.2mln Y/Y), Revenue 6.26bln (prev. 5.77bln YY). Raises FY23 Organic Revenue "above +7%" (prev. guidance "at least +6%". (Newswires)
BROKER MOVES
Kering (KER FP) upgraded to Buy from Hold at Deutsche Bank
PAN EUROPE
Dino Polska (DNP PW) - Q3 (PLN): Net 424mln (exp. 420mln). (Newswires)
Energias de Portugal (EDP PL) - 9M (EUR): Net 9464mln (prev. 519mln Y/Y), EBITDA 3.82bln (prev. 3.05bln Y/Y). (Newswires)
Solvay (SOLB BB) - Q3 (EUR): Underlying Net 340mln (prev. 509mln Y/Y), Adj. EBITDA 702mln (prev. 917mln Y/Y), Revenue 2.75bln (prev. 3.16bln Y/Y); Appoints Philipe Kehren as CEO and Alexandre Blum as CFO, effective upon planned business separation in December 2023; separating into two businesses which will be Solvay and Syensqo. (Newswires)
BROKER MOVES
SMI
Swiss Re (SREN SW) - 9-month (USD): Net Income 2.5bln, Premiums/Fee Income 33.7bln. (Newswires)
Swiss Banks – Swiss Regulators and Banking names have reportedly discussed new measures to prevent bank runs, via Reuters citing sources. This could include staggering withdrawals and imposing exit fees. Discussions in their early stages, SNB and the government involved. Measures would target the likes of UBS (UBSG SW) and wealthy clients. (Reuters)
OTHER SWISS COMPANIES
BROKER MOVES
SCANDINAVIA
Aker ASA (AKER NO) - Q3 (NOK): PBT 179mln (prev. -1.08bln), Dividend 30/shr. Approved an additional cash dividend of 15/shr for Q4. (Newswires)
BROKER MOVES
Fortum (FORTUM FH) upgraded to Buy from Hold at SEB
Fortum (FORTUM FH) downgraded to Sell from Hold at Danske Bank
Hexagon (HEXAB SS) upgraded to Buy from Hold at Nordea
Novozymes (NZYMB DC) upgraded to Overweight from Equal Weight at Barclays
US
CLOSES: SPX +1.89% at 4,318, NDX +1.74% at 14,920, DJI +1.7% at 33,839, RUT +2.67% at 1,714.
SECTORS: Energy +3.11%, Real Estate +3.09%, Financials +2.4%, Consumer Discretionary +2.4%, Industrials +2.05%, Materials +1.93%, Utilities +1.89%, Technology +1.71%, Health +1.57%, Consumer Staples +1.26%, Communication Services +0.91%.
Apple Inc (AAPL) - Q4 2023 (USD): EPS 1.46 (exp. 1.39), Revenue 89.5bln (exp. 89.28bln). Revenue Breakdown (USD): Products revenue 67.18bln, -5.3% Y/Y (exp. 67.82bln)iPhone revenue 43.81bln, +2.8% Y/Y (exp. 43.73bln). Mac revenue 7.61bln, -34% Y/Y (exp. 8.76bln). iPad revenue 6.44bln, -10% Y/Y (exp. 6.12bln). Wearables, home and accessories 9.32bln, -3.4% Y/Y (exp. 9.41bln). Service revenue USD 22.31bln, +16% Y/Y (exp. 21.37bln). Geographical Breakdown (USD). Greater China rev. 15.08bln, -2.5% Y/Y (exp. 17.01bln).CEO Cook Commentary. iPhone 15 Pro and 15 Pro MAX models are supply-constrained but do expect to reach a supply-demand balance during the current quarter. Expects Mac sales to improve in the current quarter. "Today Apple is pleased to report a September quarter revenue record for iPhone and an all-time revenue record in Services". CEO Cook says achieved an all-time revenue record in India, while CFO says services it fresh all-time record with growth accelerating Q/Q but noted they have very tough compare on Mac and iPad this quarter(Newswires)
Booking Holdings Inc (BKNG) - Q3 2023 (USD): Adj. EPS 72.32 (exp. 67.61), Revenue 7.30bln (exp. 7.26bln). (Newswires)
03 Nov 2023 - 06:50- EquitiesData- Source: Newswires
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