Newsquawk Daily European Equity Opening News - 6th June 2024

6th June 2024

ASIA

APAC stocks traded mostly firmer as the region largely took its cue from the positive lead on Wall Street, while South Korean markets were closed due to the Memorial Day holiday. ASX 200 saw its upside spearheaded by gold and IT with all sectors in the green but Consumer Staples and Telecoms with the shallowest gains. Nikkei 225 surged at the open and briefly rose above USD 39,000 as industrials and Tech led the gains whilst autos saw another dire session amid the ongoing safety scandal. The index waned off best levels heading into the Tokyo lunch break. Hang Seng and Shanghai Comp varied for most of the session with the former conforming to the positive mood across the region whilst the latter saw subdued and contained trade within a tight range, with news flow on the quieter side ahead of the upcoming risk events.

EUROPEAN CLOSES

CLOSES: DAX: +0.89% at 18,570.27, FTSE 100: +0.18% at 8,246.95, CAC 40: + 0.87 at 8,006.57, Euro Stoxx 50: +1.65% at 5,035.05, IBEX 35: +0.59% at 11,353.10, FTSE MIB: +0.68% at 34,507.84, AEX: +1.88% at 918.67, SMI: +1.16% at 12,148.71

SECTORS: IT 4.65%, Consumer Disc 1.14%, Industrials 1.11%, Healthcare 0.80%, Telecoms 0.32%, Financials 0.28%, Consumer Stpl 0.26%, Materials 0.06%, Utilities 0.02%, Energy -0.04%

FTSE 100

Antofagasta (ANTO LN) - Transfer of Centinela Water Supply Infrastructure; Centinela set to receive cash proceeds of USD 600mln. (Newswires)

Ex-Dividends - WPP (WPP LN), Informa (INF LN), Sainsbury (SBRY LN), Vodafone (VOD LN), National Grid (NG/ LN) will trade without entitlement to their latest dividend payout. (Newswires)

FTSE Reshuffle - Darktrace (DARK LN, LondonMetric Property (LMP LN) and Vistry Group (VTY LN) are set to replace Ocado (OCDO LN), RS Group (RS1 LN) and St James's Place (STJ LN). (Newswires)

Rolls Royce (RR/ LN) - Rolls Royce Deutschland and ITP Aero join forces for a world-class wingman engine. (Newswires)

OTHER UK COMPANIES

IDS (IDS LN) – Sessa Capital, a New York hedge fund, has increased its short position in IDS to 0.83%, via The Times. (The Times)

Wood Group (WG/ LN) - Co. has decided to engage with Sidara to determine if a firm offer can be made on the same financial terms as the final proposal. The board will grant Sidara access to due diligence materials. The takeover panel extends the deadline for Sidara to make an offer or walk away to July 3. (Newswires)

BROKER MOVES

DAX

OTHER GERMAN COMPANIES

Nemetschek (NEM GY) - Co. to acquire Gocanvas exp. to close in Summer 2024; more details re. the deal will be announced closer to finalisation. (Newswires)

Rational AG (RAA GY) - Co. is back in the MDAX. (Newswires)

BROKER MOVES

CAC

Euronext (ENX FP) - Announced share repurchase programme where it will repurchase 100k of its own shares. (Newswires)

Technip Energies (TE FP) - Co. and Turner Industries were awarded a contract by Exxonmobil (XOM) for the Louisiana Carbon Capture and Seqesterion project. (Newswires)

Vinci (DG FP) - Co. steps up its road operations in NA; has acquired two roadworks and materials production companies, which generate FY revenue of over EUR 150mln. (Newswires)

OTHER FRENCH COMPANIES

Atos (ATO FP) - Extends the deadline for selection of a preferred financial restructuring proposal to the beginning of the week of June 10. Is in discussions with relevant parties re. improving certain terms of their submitted revised proposals. Aim of reaching the final financial restructuring agreement by July 2024 is unchanged. (Newswires)

Alstom (ALO FP) - To supply twelve additional trams to Zurich, total rises to 122 vehicles. (Newswires)

Remy Cointreau (RCO FP) - FY (EUR): Net Income 194.8mln (exp. 186.7mln), Revenue 1.19bln (exp. 1.19bln), EPS 3.64, -37.1% Y/Y. Will propose an ordinary dividend of EUR 2/shr. In 2024/24 expect a negative FX impact on sales between 5-10mln; favourable impact on current op. profit of between +3 to +7mln. 2025/26 outlook: Gradual recovery in sales in the course of the year. Return to a high single digit average. annual sales growth. (Newswires)

BROKER MOVES

Getlink (GET FP) upgraded to Overweight from Equal Weight at Barclays

PAN EUROPE

Colonial (COL SM) - Proposed to increase share capital subscription rights, with a charge to cash and non-cash contributions for a nominal amount of EUR 219mln. (Newswires)

Stellantis (STLAM IM/STLAP FP) - Co. is to widen large-scale recall over airbags issue, according to Reuters citing Le Parisien. No additional recall action is planned at the moment beyond what was announced; notes they cannot rule out further precautionary recalls in the future. (Newswires)

BROKER MOVES

SMI

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

BROKER MOVES

US

CLOSES: SPX +1.18% at 5,354, NDX +2.04% at 19,035, DJI +0.25% AT 38,807, RUT +1.47% at 2,064.

SECTORS: Energy flat, Utilities -0.58, Industrials +1.0%, Materials +0.72%, Financials +0.22%, Real Estate -0.14%, Consumer Staples -0.22%, Consumer Discretionary +0.67%, Communication Services +1.51%, Health +0.43%, Technology +2.68%

Microsoft (MSFT) - US FTC has reportedly opened a probe into Microsoft's AI deal with Inflection AI, according to WSJ; the probe looks into whether MSFT structured the deal to avoid a government antitrust review of the transaction. (WSJ)

06 Jun 2024 - 06:54- Research Sheet- Source: Newsquawk