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Back to Daily DR Market Summary

StreetAccount Summary - European Market Recap: FTSE 100 +0.83% to 8177.15, DAX +0.93% to 19254.97, CAC40 +0.80% to 7409.11, STOXX 600 +1.09% to 510.90

Nov 01 ,2024

  • Synopsis:

    • European equity markets opened higher and steadily extended gains through the session, with firmer markets in the US providing additional impetus later in the day, before shares slightly pared advances into the close.

    • With shares ending the day around the best levels of the session Ireland +2.3% and Switzerland led outperformers, and Austria +0.2%, Norway +0.3% and Greece, Sweden both +0.6% led underperformers

    • A number of counties had bank holidays (celebrating All Saints' Day) and whilst for the most part, markets remain open, markets were closed in Croatia, Hungary, Lithuania, Poland, Slovakia, Slovenia and Sweden (early close)

    • North Korea's foreign minister in her meeting with Russian counterpart Lavrov says country will back Russia until it achieves victory in Ukraine. Gaza ceasefire proposals did not meet movement's conditions Sky News Arabia reported citing Hamas leadership source.

    • Amongst the economic data, in the UK, an update from Nationwide showed UK house price annual growth slowed in October. The lender expects stamp duty changes announced in Budget will likely impact the timing of property transactions, as purchasers aim to ensure their house purchases complete before the tax change takes effect, as well as dampen the additional dwellings segment. Also, UK factory activity shrinks for first time since April, the manufacturing PMI survey showed. Elsewhere, Swiss inflation weaker-than-forecast in October, with core also lower than the 1% forecast and prior 1%.

    • France Oct new passenger car registration (14.9%) y/y (comparable working days) to 135,529 vehicles

    • A slow close to the week o the earnings front following a busy few day. In M&A news flow, Tesco (TSCO.LN) completed the sale of its banking operations to Barclays (BARC.LN) and confirmed that it intends to return £700M to shareholders via incremental share buyback. a.s.r. (ASRNL.NA) completes sale of Knab and announces extra €100M share buyback. UK's CMA sees GXO Logistics' (GXO) acquisition of Wincanton (WIN.LN) substantially lessening competition, parties need to offer acceptable undertaking, or will refer for an in-depth investigation

    • Sovereign credit rating reviews due after the close include Moody's (EFSF, ESM) and S&P (Türkiye).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Media +1.75%, Banks +1.74%, Financial Svcs +1.34%, Technology +1.27%, Retail +1.26%, Health Care +1.20%, Ind Goods & Svcs +1.10%

      • Underperformers:

        • Autos & Parts +0.33%, Real Estate +0.40%, Construct & Mtls +0.52%, Insurance +0.61%, Food & Beverage +0.68%, Travel & Leisure +0.68%, Telecom +0.80%, Oil & Gas +0.85%, Basic Resources +0.88%, Utilities +1.01%, Chemicals +1.02%, Persnl & HHold Goods +1.07%

    • Macro/Peripheral markets:

      • Finland:

        • Politicians and business representatives will begin trade mission to China and the Hong Kong Special Administrative Region on 4-Nov - press release

      • Germany:

        • Traffic light coalition continues to lose support and most Germans favor an early election ARD Deutschlandtrend poll shows - Handelsblatt

      • Norway:

        • Update on The National Transport Plan 2025-36 - release

      • Portugal:

        • 2025 budget bill passes first reading as Socialists abstain - Reuters

      • UK:

        • Northern Ireland politicians to vote before Christmas on extending post-Brexit trading arrangements - RTE; Evening Standard

    • Company news:

      • Notable Gainers

        • +18.7% BNN.GR (BRAIN Biotech) -- signs exclusive pharma licensing agreement for G-dase E CRISPR-Cas technology with Akribion

        • +7.4% RKT.LN (Reckitt Benckiser) -- Abbott and Reckitt reportedly found not liable in premature baby formula trial - Reuters

        • +5.3% MOLN.SW (Molecular Partners) -- provides Q3 financial and business update

        • +4.8% MIG.GA (MIG Holdings) -- Q3 net income from continuing operations €31K vs year-ago (€1.0M)

        • +4.3% BOO.LN (boohoo Group) -- appoints Dan Finley as CEO with immediate effect

        • +4.3% MER.LN (Mears Group) -- Raises FY guidance

        • +4.1% SDR.LN (Schroders) -- outperform from neutral at BNP Paribas Exane

        • +4.0% MAERSK.B.DC (Maersk) -- DOF Group (DOFG.NO) announces the closing of the acquisition of Maersk Supply Service and share capital increase

          • +0.3% DOFG.NO (DOF Group)

        • +3.8% SCATC.NO (Scatec) -- Q3 EPS NOK10.20 vs year-ago NOK0.28

        • +3.8% BALD.B.SS (Fastighets AB Balder)

          • directed issue of 18M Class B shares raising proceeds of a little less than SEK 1.5B

          • acquires properties valued at SEK 5.2B from its JV Fastighets AB Centur

          • +2.9% PEAB.B.SS (Peab)

        • +3.5% GLE.FP (Societe Generale) -- overweight from equal-weight at Morgan Stanley

        • +3.2% FFARM.NA (ForFarmers) -- Q3 EBIT €13.7M ex-items vs year-ago €9.2M

        • +2.7% TPEIR.GA (Piraeus Financial Holdings) -- Q3 net income attributable €318M vs FactSet €297.6M [6 est, €275.8-318M]; raises FY EPS guidance

        • +2.1% ASC.LN (Asos) -- hold from sell at Shore Capital Stockbrokers

        • +2.1% HPOL.B.SS (HEXPOL) -- acquires 80% of shares in Piedmont Resin Supply for $86M

        • +1.7% UMG.NA (Universal Music Group) -- Q3 adj EBITDA €621M vs consensus €620M

        • +1.7% BAMNB.NA (Koninklijke BAM Groep) -- agrees to acquire WL Winet bv for an undisclosed sum

          • On earnings/updates: CO.FP (Casino Guichard-Perrachon)

      • Notable Decliners

        • -16.2% FUR.NA (Fugro) -- Q3 EBIT €99.3M ex-items vs FactSet €121.0M [1 est], specifies FY revenue growth guidance, reaffirms EBIT margin; neutral from outperform at Oddo

        • -14.5% STB.LN (Secure Trust Bank) -- Group's FY24 underlying, continuing pretax profit to fall materially below market expectations

        • -10.7% TRIFOR.DC (Trifork Holding) -- Q3 net income €1.6M vs FactSet €1.3M [3 est, €0-2.3M], lowers FY guidance

        • -9.9% DFDS.DC (DFDS) -- terminates agreement to acquire Ekol Logistics; lowers FY guidance

        • -8.1% AKSO.NO (Aker Solutions) -- sell from hold at DnB Markets; hold from buy at Carnegie Securities

        • -7.3% AKH.NO (Aker Horizons) -- Q3 net income (NOK176M) vs year-ago (NOK65M)

        • -6.8% FIE.GR (Fielmann Group) -- 9M adj EBITDA €379M vs year-ago €336M, FY24 outlook confirmed

        • -6.9% KID.NO (Kid ASA) -- CEO Anders Fjeld to resign as of 1-May-25

        • -5.8% BONAV.B.SS (Bonava) -- hold from buy at Kepler Cheuvreux

        • -4.8% HUM.LN (Hummingbird Resources) -- provides corporate and financing update

        • -3.5% VIRI.FP (Viridien) -- Q3 adjusted EBITDA $98M vs FactSet $123.8M [1 est], reiterates FY financial objectives and confirms 2024-25 financial roadmap

        • -2.4% BIOA.B.SS (BioArctic) -- completes rolling submission of BLA to FDA for lecanemab-irmb

        • -1.9% WAWI.NO (Wallenius Wilhelmsen) -- appoints new CFO

        • -1.8% MBTN.SW (Meyer Burger Technology) -- H1 net income (CHF317.3M) vs year-ago (CHF64.8M); group's ability to continue operating as a going concern assumes a successful restructuring and closure of its financing efforts

        • -1.7% KBX.GR (Knorr-Bremse) -- neutral from outperform at BNP Paribas Exane

          • On earnings/updates: KAP.LN (National Atomic Company Kazatomprom), BRNL.NA (Brunel International)

    • EU companies reporting Monday:

      • Earnings:

        • Benelux: PostNL (PNL.NA)

        • France: Cellectis (ALCLS.FP)

        • DACHs: DMG MORI (GIL.GR), MediClin (MED.GR)

        • Nordics: Ilkka (ILKKA2.FH), Nordisk Bergteknik (NORB.B.SS)

        • Southern Europe: Corticeira Amorim (COR.PL), Sonaecom (SNC.PL), Prosegur Compania de Seguridad (PSG.SM)

        • UK/Ireland: Ryanair Holdings (RYA.ID)

      • Trading Update: Kingspan Group (KRX.ID), Demant (DEMANT.DC), Vicat (VCT.FP), Solutions 30 (S30.FP), Delfingen Industry (ALDEL.FP)

      • CMD/events: Clariant (CLN.SW)

  • Data:

    • Economics:

      • Oct manufacturing PMI

        • Sweden 53.1 vs consensus 51.2, prior revised 51.6 from 51.3

        • Switzerland 49.9 vs consensus 49.8, prior 49.9

        • Norway 52.4 vs consensus 51.7, prior revised 51.7 from 51.8

        • UK 49.9 vs preliminary 50.3

      • Netherlands Sep retail sales +2.6% y/y vs consensus +2.7%, prior revised +2.2% from +1.8%

      • UK Oct house price index +2.4% y/y vs consensus +2.8% and prior +3.2% - Nationwide

      • Switzerland

        • Oct CPI +0.6% y/y vs consensus +0.8%, prior +0.8%; (0.1%) m/m vs consensus 0.0%, prior (0.3%)

        • Sep retail sales +2.2% y/y vs consensus +2.5%, prior revised +2.7% from +3.2%

    • Markets:

      • WTI Crude (Dec 24): +$0.55 or +0.79% to $69.81

      • €-$ (0.0036) or (0.33%) to 1.0848

      • £-$ +0.0051 or +0.40% to 1.2950

      • €-£ (0.0060) to 0.8378

      • S&P 500 +0.90%

      • Performance year-to-date:

        • FTSE 100: +5.74%

        • DAX: +14.94%

        • CAC: (1.78%)

        • MIB: +14.25%

        • Stoxx 600: +6.66%

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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