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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE +0.18%, DAX30 +0.04%, CAC40 (0.29%)

Feb 09 ,2024

  • Synopsis

    • European indices are set to open mixed. Yesterday after the close L'Oreal reported FY EPS €12.08 ex-items vs FactSet €12.15.

    • Asian equities mixed Friday. Hang Seng under a bit of pressure amid weakness in property developers. However, index off worst levels. Shares in Australia and Japan trading higher. Mainland China and other markets shut for Lunar New Year.

    • US equities finished higher in Thursday afternoon trading, near best levels though S&P failed (again) to end above 5000. Path of least resistance has been higher for better part of the last few months on combination of Fed pivot and resilient US growth backdrop.

    • Among central banks updates: Friday sees Chancellor Scholz travelling to the USA, meets with President Biden, others. EU's Gentiloni speech at the European Conf 'A Pivotal Year: What's at Stake in 2024 for Europe, America and the World' at Harvard Kennedy School. In central banks, Bundesbank's Nagel speech at 11:30CET at awarded ceremony for Bank of France's Villeroy at German Embassy in Paris whilst ECB's Cipollone gives speech at 15:15CET at 30th Assiom Forex Annual Congress.

    • In Macro: Netherlands Dec Manufacturing Production +6.8% m/m vs consensus +0.5% and prior (0.8%). Other macroeconomic releases due today include Germany Jan final CPI, Italy Dec industrial production, Norway Jan CPI, PPI, Sweden Dec industrial production, Greece Dec industrial production

    • In corporate news: ams-OSRAM (AMS.SW) reports Q4 Adjusted EPS (€0.03) vs FactSet €0.00. CECONOMY (CEC.GR) reports Q1 EPS €0.35 ex-items vs FactSet €0.33. Aperam (APAM.NA) reports Q4 EPS €0.96 vs FactSet (€0.04). Carl Zeiss Meditec (AFX.GR) reports Q1 EPS €0.42 vs FactSet €0.33. Ubisoft Entertainment (UBI.FP) reports Q3 IFRS 15 sales €606.4M vs FactSet €616.0M. In the Nordics, Coloplast (COLO.B.DC) reports Q1 EPS DKK5.45 ex-items vs FactSet DKK5.61 and Skanska (SKA.B.SS) reports Q4 EPS SEK2.48 vs FactSet SEK1.39

  • Politics/Macro/World News

    • China to export deflation to the world as economy stumbles (FT)

    • Putin Takes Hard Line on Ukraine in Tucker Carlson Interview (BBG)

    • Putin tells Tucker Carlson Russia has no interest in attacking Poland or Latvia (Reuters)

  • Top company news

    • Earnings/updates

      • AFX.GR (Carl Zeiss Meditec) -- reports Q1 EPS €0.42 vs FactSet €0.33 [4 est, €0.25-0.45]; confirms FY guidance

      • EMSN.SW (EMS-Chemie Holding) -- reports FY net income CHF461M vs FactSet CHF430.9M [8 est, CHF400.9-454M]

      • OBEL.BB (Orange Belgium) -- reports H2 net income €4.6M vs FactSet €3M [1 est]

      • XFAB.FP (X-FAB Silicon Foundries) -- reports Q4 net income $38.8M vs FactSet $36.8M [3 est, $33.6-38.9M]

      • HTRO.SS (Hexatronic Group) -- reports Q4 EPS SEK0.94 vs year-ago SEK1.06

      • ATORX.SS (Alligator Bioscience) -- reports Q4 EPS (SEK0.11) vs year-ago (SEK0.24)

      • SL.IM (Sanlorenzo) -- reports preliminary FY EBITDA €157.5M vs prior guidance €155-160M, FactSet €158.4M [5 est, €156-161.8M] (6:41ET)

      • ODF.NO (Odfjell) -- reports Q4 EPS $0.66 vs FactSet $0.66 [5 est, $0.62-0.70]

      • GBT.FP (Guerbet) -- reports FY revenue €785.7M vs FactSet €780.8M [4 est, €778-782M]

      • ISB.IR (�?slandsbanki) -- reports Q4 net income ISK6.2B, +3% vs year-ago ISK6.0B

      • THULE.SS (Thule Group) -- reports Q4 EPS SEK0.23 vs FactSet SEK0.12 [7 est, SEK0.02-0.37]

      • COLO.B.DC (Coloplast) -- reports Q1 EPS DKK5.45 ex-items vs FactSet DKK5.61 [11 est, DKK5.10-5.95]

      • KEMIRA.FH (Kemira) -- reports Q4 EPS (€0.20) vs FactSet €0.35 [6 est, (€0.07)-0.56]; guides FY24 Operative EBITDA is expected to be between €480-580M vs FactSet €506.22M

      • DFDS.DC (DFDS) -- reports Q4 net income DKK178M vs FactSet DKK318M [3 est, DKK308-328M]; total dividend and share buyback of DKK 600M

      • SKA.B.SS (Skanska) -- reports Q4 EPS SEK2.48 vs FactSet SEK1.39 [7 est, (SEK0.20)-4.70]

      • SAAB.B.SS (Saab) -- reports Q4 EPS SEK9.08 vs FactSet SEK8.63 [3 est, SEK8.20-9.00], raises dividend +20.8% y/y; raises 2023-27 organic sales growth guidance

    • M&A

      • SHEL.LN (Shell Plc) -- Petrobras completes acquisition of shares in three exploration blocks operated by Shell in São Tomé and Príncipe

      • EURN.BB (Euronav) -- concludes acquisition CMB.TECH

      • CO.FP (Casino Guichard-Perrachon) -- announces that it has reached agreements with Carrefour for the sale of 25 Casino hypermarkets and supermarkets

      • IBAB.BB (Ion Beam Applications) -- to acquire assets of Radcal Corporation, terms undisclosed

      • Flynn Group (private) said to be exploring sale of majority stake -- Reuters

      • Marubeni, Engie may sell their shares in Senoko Energy - Bloomberg (20:12 JT/12:12 CET)

    • Healthcare

      • CLARI.FP (Clariane) -- announces AMF waiver for global refinancing plan

      • 532523.IN (Biocon) -- provides Sandoz Group exclusive rights of Trastuzumab, Bevacizumab in Australia

    • Other

      • AF.FP (Air France-KLM) -- comments on General Court ruling

      • VANTI.FP (Vantiva) -- appoints Brian Shearer as Chairman

      • Rio Tinto, BHP and BlueScope to partner on steel decarbonisation

  • Key rating changes

    • Upgrades

      • ADYEN.NA (Adyen) -- to outperform from market perform at Keefe, Bruyette & Woods

      • ADYEN.NA (Adyen) -- to outperform from market perform at TD Cowen

      • BOL.SS (Boliden) -- to hold from sell at Berenberg

      • GALP.PL (Galp Energia SGPS) -- to outperform from underperform at Oddo

      • ROCK.B.DC (Rockwool) -- Rockwool short-term recommendation upgraded to hold from sell at Handelsbanken

      • VBK.GR (Verbio) -- to hold from sell at Deutsche Bank

    • Downgrades

      • ETL.FP (Eutelsat Communications) -- to sell from hold at Deutsche Bank

      • SHB.A.SS (Svenska Handelsbanken) -- to underperform from neutral at Mediobanca

      • NEL.NO (NEL ASA) -- to sell from hold at Danske Bank

      • NSKOG.NO (Norske Skog) -- to hold from buy at Pareto

  • Data

    • Nikkei +0.09% to 36897.42

    • Hang Seng (0.83%) to 15746.58

    • Shanghai Composite +0.00% to 2865.90

    • S&P futures (3.5) vs prior close of 5017.8

    • €-$ (0.0007) or (0.07%) to 1.0772

    • $-¥ +0.06 or +0.04% to 149.38

    • €-¥ (0.02) or (0.01%) to 160.92

This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
Please refer to "Terms Of Use".

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