Newsquawk Daily European Equity Opening News - 9th February 2022

The Daily European Equity Opening News is uploaded at 0700GMT/0200EST recapping all of the overnight equity news.

From 0700GMT/0200EST all equity news will be covered in real-time over the audio and headline feed and the full audio rundown will be at 0715GMT/0215EST.

There will be an additional audio rundown at 0750GMT/0250EST recapping any company news which has hit the wires since 0715GMT/0215EST 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 traded higher with earnings releases in focus and following the positive handover from Wall St where the major indices finished near the best levels of the day despite participants remaining in limbo ahead of the approaching US inflation data. ASX 200 (+1.1%) was lifted by notable outperformance in the tech and financials sectors with the latter boosted by firm gains in Australia’s largest lender CBA which reported a 22% jump in H1 cash profit and announced a AUD 2bln share buyback. Nikkei 225 (+1.1%) climbed back above the 27,500 level as its biggest gaining stocks were all driven by earnings releases including IHI, AGC and Nissan, while Toyota also reported record 9-month profit an SoftBank was boosted after it began to pitch its ARM IPO which CEO Son claimed would be the biggest IPO in the history of the semiconductor industry. Hang Seng (+2.0%) and Shanghai Comp. (+0.7%) conformed to the constructive mood after reports yesterday that Chinese state funds stepped in and purchased stocks to slow the market decline and with Hong Kong firmly boosted by a rebound in tech. Conversely, gains in the mainland were somewhat moderated amid lingering frictions with the US as the White House Press Secretary noted that China has not met trade commitments of 2020 and 2021, while the US and other nations also expressed deep concern at Hong Kong and mainland Chinese authorities' attacks on freedom of press and suppression of independent local media in Hong Kong.

Toyota (7203 JT) 9-month net JPY 2.32tln vs prev. JPY 1.47tln Y/Y, rev. JPY 23.3tln vs prev. JPY 19.5tln Y/Y, raises FY net guidance to JPY 2.50tln from JPY 2.49tln, cuts rev. guidance and affirms group global retail sales at 10.29mln units. (Newswires)

EUROPEAN CLOSES

CLOSES: EURO STOXX 50 +0.2% at 4,129, FTSE 100 -0.1% at 7,567, DAX 40 +0.2% at 15,242, CAC 40 +0.3% at 7,028, FTSE MIB +0.3% at 26,411, IBEX 35 +1.4% at 8,674, SMI -0.3% at 12,155.

SECTORS: Basic Materials 2.23%, Financial Services 1.17%, Telecoms 0.70%, Consumer Services 0.44%, Industrials 0.07%, Consumer Goods -0.10%, Utilities -0.23%, Healthcare -0.61%, Technology -0.86%, Energy -1.82%

FTSE 100

Reckitt Benckiser (RKT LN) - CEO notes of a very good year for the US infant formula business. (Newswires)

OTHER UK COMPANIES

BROKER MOVES

Admiral (ADM LN) upgraded to Buy from Hold at HSBC

Boohoo (BOO LN) downgraded to Underweight from Equal Weight at Barclays

Just Eat Takeaway (JET LN) reiterated with Overweight at JPMorgan Chase

Rightmove (RMV LN) downgraded to Underweight from Neutral at JPMorgan Chase

Weir Group (WEIR LN) upgraded to Buy from Neutral at Goldman Sachs

DAX

Deutsche Bank (DBK GY) - Cerberus Capital is to sell roughly 15mln shares of Deutsche Bank, according to reports via Bloomberg. (Newswires)

Siemens Energy (ENR GY) - Q1 2022 (EUR): Revenue 6.0bln (prev. 6.50bln). Adj. EBITDA -57mln (prev. +243mln). Net -240mln (prev. +99mln). Siemens Energy notes that the latest profit warning from Siemens Gamesa (SGRE SM) is a setback. Siemens Energy still expects a sharp improvement in net profit this year, with FCF seen in the mid-triple-digit region. (Newswires)

OTHER GERMAN COMPANIES

BROKER MOVES

Delivery Hero (DHER GY) reiterated with Overweight at JPMorgan Chase

HelloFresh (HFG GY) reiterated with Neutral at JPMorgan Chase

Scout24 (G24 GY) reiterated with Overweight at JPMorgan Chase

CAC

Airbus (AIR FP) - Co. revoked orders for two A350-1000 jets from Qatar Airways in a deepening of the USD 600mln row. Separately, Co. reported January deliveries of 30 jets with net orders -16. (Newswires)

EDF (EDF FP) - Co. said French Nuclear output -5.3% Y/Y to 35.2TWh in January due to reactor outages. (Newswires)

OTHER FRENCH COMPANIES

Amundi (AMUN FP) - Q4 (EUR): Revenue 794mln (exp. 776mln), adj. Net Income 328mln (exp. 308mln); proposes a FY dividend of 4.10/shr (exp. 3.88/shr). (Amundi)

Orpea (ORP FP) - Q4 2022 (EUR): Revenue 1.11bln (prev. 1.02bln Y/Y). Co. said it is showing solid momentum. Activity is in line with expectations. In 2021, revenue benefited from the gradual recovery in occupancy rates, driven primarily by the Covid-19 vaccination campaign. (Newswires/Orpea)

BROKER MOVES

JC Decaux (DEC FP) downgraded to Neutral from Overweight at JPMorgan Chase

PAN EUROPE

ABN AMRO (ABN NA) - Q4 2021 (EUR): Operating income 2.28bln (Co. exp. 2.13bln). Profit 552mln (Co. exp. 451mln). Co. proposes a final dividend of EUR 0.61/shr and a EUR 500mln share buyback programme. NII 1.339bln (prev. 1.353mln Y/Y). FY costs remain in-line with the EUR 5.3bln guidance excluding AML settlement. (Newswires/ABN AMRO IR)

Akzo Nobel (AKZA NA) - Q4 2021 (EUR): Revenue 2.43bln (prev. 2.21bln Y/Y). Net Income 187mln (prev. 167mln Y/Y). Adj. EPS 1.04 (prev. 0.87 Y/Y). Co. announced a EUR 500mln share buyback programme. (Newswires)

Eni (ENI IM) - Unconfirmed reports suggest Eni could target clean energy deals via SPACs. (Newswires)

Leonardo (LDO IM) - Co. is said to have halted the process of selecting a partner for its automation business, according to reports. (Newswires)

BROKER MOVES

SMI

OTHER SWISS COMPANIES

DKSH (DKSH SW) - FY21 (CHF): Revenue 11.1bln (exp. 11.08bln), EBIT 284mln (exp. 284mln). (Newswires)

BROKER MOVES

SCANDINAVIA

DSV (DSV DC) - Q4 (DKK): Revenue 61bln (exp. 54bln), adj. EBIT 5.1bln (exp. 5.1bln); propose a dividend of 5.50/shr (prev. 4.00/shr) for FY21. (Newswires)

Equinor (EQNR NO) - Q4 2021 (USD): Revenue 32.6bln (prev. 11.7bln Y/Y). Adj. operating profit 13.6bln (vs prev. -989mln Y/Y). Adj. Net 3.37bln (prev. -2.42bln Y/Y). Co. proposes an increase in Q4 cash dividend and an increase to its share-buyback programme of up to USD 5bln. Co. is to also announce an extraordinary cash dividend of USD 0.20/shr. (Newswires/Equinor IR)

Evolution Gaming (EVO SS) - Q4 (EUR): Revenue 300mln (exp. 305mln), net income 171mln (exp. 183mln), EBITDA 206mln (exp. 214mln), EPS 0.80 (exp. 0.825); propose a dividend of 1.42/shr (exp. 1.40/shr). (Evolution Gaming)

Handelsbanken (SHBA SS) - Q4 2021 (SEK) Operating profit 6.37bln (exp. 6.40bln). Net 5.24bln (exp. 4.94bln). CET1 ratio 19.4% (exp. 19.3%). (Newswires)

BROKER MOVES

Outokumpu (OUT1V FH) reiterated with Overweight at JPMorgan Chase

US

CLOSES: S&P 500 +0.8% at 4,520, Nasdaq 100 +1.2% at 14,747, Dow Jones +1.1% at 35,463, Russell 2000 +1.4% at 2,040.

SECTORS: Materials +1.6%, Consumer Discretionary +1.5%, Financials +1.4%, Technology +1.3%, Industrials +1%, Health +0.8%, Consumer Staples +0.3%, Utilities +0.1%, Communication Services -0.1%, Real Estate -0.8%, Energy -2.1%.

09 Feb 2022 - 06:51- Energy- Source: Newsquawk