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StreetAccount Summary - EU Market Recap: FTSE 100 (0.29%) to 8160.53, DAX (1.14%) to 19036.99, CAC40 (0.71%) to 7354.70, STOXX 600 (0.60%) to 506.48

Nov 06 ,2024

• Synopsis:

  • European indices ended in negative territory following a positive morning session. US stocks up big with President Trump returning to the White House and the potential for a Red Sweep. Removal of the election overhang another widely discussed positive, particularly with the pickup in defensive positioning in recent weeks. US strategists have also repeatedly talked up very favorable seasonality into year-end, particularly in election years. November third-best month of the year from an equity inflow perspective. Europe digesting implications for trade, economic outlook and central bank policy.

  • Several sell-side banks warning weakness likely to extend over coming months to reach euro dollar parity. While Trump's position on trade is thought to fuel inflation and could curb the Fed, it may weigh heavily on Eurozone activity. Interest rate markets increased ECB rate cut bets in a kneejerk reaction. In early Europe, markets priced deposit rate ~2% by November 2025. Meanwhile, Goldman Sachs among those updating ECB terminal rate forecasts of 1.75% by July 2025 versus prior 2.00% amid Trump's policy agenda. Sees Trump tariffs cutting 0.3% off the 2025 growth rate. Note, ECB has emphasized importance of price stability, but back-to-back cuts in September and October has seen policy debate beginning to consider implications weaker growth could have on inflation outlook. Some thoughts euro could also underperform versus sterling. Analysts highlight UK less exposed to Trump tariffs compared with Eurozone because of the focus on exports of services rather than goods.

  • On macro-data front, German factory orders sees big beat in September. Final Eurozone composite PMI revised up to 50.0 from prior 49.7 on services reading. UK construction PMI slowed. Looking ahead to Thursday, central bank decisions due from Fed, BoE, Riksbank and Norges Bank. Fed and BoE widely expected to deliver a 25 bp rate cut. Both centra banks also likely to stress data dependency when it comes to policy decisions going forward

  • On another busy morning session in terms of earnings, in the Health Care sector, Siemens Healthineers (SHL.GR), Fresenius (FRE.GR), Evotec (EVT.GR), Ambea AB (AMBEA.SS) and Novo Nordisk (NOVO.B.DC) reported Q3/9M earnings, whilst in Banking and financial services Credit Agricole (ACA.FP), Commerzbank (CBK.GR), Eurazeo (RF.FP) and UniCredit (UCG.IM) also issued updates. Bayerische Motoren Werke (BMW.GR), a heavyweight in the automobile sector, reported Q3 earnings and confirmed its adjusted full-year guidance as of 10-Sep. In the Chemicals sector, SOLB.BB (SOLB.BB), Arkema (AKE.FP), Henkel (HEN.GR) and Evonik (EVK.GR) issued Q3 updates. Food retailers and producers heavyweights updating investors today included Koninklijke Ahold Delhaize (AD.NA), Barry Callebaut (BARN.SW), and Marks & Spencer Group (MKS.LN). Other notable companies updating investors included FORVIA HELLA (HLE.GR), Vonovia (VNA.GR), GEA Group (G1A.GR), Puma (PUMA.GR), Pandora (PNDORA.DC), Skanska (SKA.B.SS), Prudential (PRU.LN), EDP Renovaveis (EDPR.PL) and Securitas (SECU.B.SS).

  • Looking ahead to tomorrow's calendars, ArcelorMittal (MT.NA), KBC Group (KBC.BB), Zealand Pharma (ZEAL.DC), Alm. Brand (ALMB.DC), GN Store Nord (GN.DC), ENGIE (ENGI.FP), Legrand (LR.FP), Veolia Environnement (VIE.FP), Euronext (ENX.FP), Air France-KLM (AF.FP), SES (SESG.FP), Munich Re (MUV2.GR), Daimler Truck Holding (DTG.GR), Rheinmetall (RHM.GR), Heidelberg Materials (HEI.GR), Nordex (NDX1.GR), LANXESS (LXS.GR), Biotest (BIO3.GR), Durr (DUE.GR), Leonardo (LDO.IM), Unipol Gruppo (UNI.IM), Nexi (NEXI.IM), Banca Monte dei Paschi di Siena (BMPS.IM), Pirelli & C. (PIRC.IM), Banca Generali (BGN.IM), Azimut Holding (AZM.IM), Brembo (BRE.IM), Iveco Group (IVG.IM), EDP-Energias de Portugal (EDP.PL), Telefonica (TEF.SM), Amadeus IT Group (AMS.SM), Grifols (GRF.SM), Millicom International Cellular (TIGO.SS), BT Group (BT.A.LN), National Grid (NG.LN) and J Sainsbury (SBRY.LN) will be among several other names to post their latest earnings, whilst Adyen (ADYEN.NA), Delivery Hero (DHER.GR, JCDecaux (DEC.FP), Clas Ohlson (CLAS.B.SS, Safilo Group (SFL.IM), Zurich Insurance Group (ZURN.SW), Vontobel Holding (VONN.SW), Taylor Wimpey (TW.LN) and Hikma Pharmaceuticals (HIK.LN) will be released trading updates. On the macro-calendar, Germany Sep trade balance and industrial production, Spain Sep industrial production are Eurozone Sep retail sales are the main releases

• Digest:

  • Sectors - STOXX Europe 600:

    • Outperformers: Financial Svcs +2.59%, Travel & Leisure +2.24%, Media +2.12%, Ind Goods & Svcs +1.57%, Insurance +0.72%, Basic Resources +0.23%, Construct & Mtls (0.23%), Telecom (0.41%)

    • Underperformers: Autos & Parts (4.24%), Utilities (2.47%), Food & Beverage (2.12%), Health Care (2.10%), Real Estate (1.88%), Chemicals (1.75%), Retail (1.07%), Banks (1.04%), Persnl & HHold Goods (0.99%), Oil & Gas (0.92%), Technology (0.68%)

  • Macro:

    • French, German defense ministers set to discuss fallout of Trump win (Politico)

    • France says Europe must 'take charge of own destiny' as Trump leads US vote (Le Monde)

    • Clashes over budget could push Germany's ailing coalition to collapse (Guardian)

    • Strong US relations crucial, says PM Starmer after Trump win (BBC)

    • Why Donald Trump is the British government's worst nightmare (Politico)

    • Spike in UK Borrowing Costs Wipes Out Reeves' Fiscal Headroom (BBG)

    • At least 89 people missing from floods in eastern Spain (Reuters)

  • Company news:

    • Notable Gainers

      • +16.2% MOLN.SW (Molecular Partners CHF5.47, +0.78) -- upcoming poster presentations at the 65th ASH Annual Meeting and Exposition

      • +15.4% BIKE.GR (Bike24 Holding €1.42, +0.19) -- earnings

      • +11.7% KTN.GR (Kontron €16.95, +1.77) -- Q3 net income attributable €24.4M vs year-ago €19.1M; reaffirms FY EBITDA guidance

      • +10.5% SECU.B.SS (Securitas SEK140.50, +13.35) -- Q3 EPS before IAC SEK3.05 vs consensus SEK2.24

      • +9.2% G5EN.SS (G5 Entertainment SEK100.80, +8.50) -- Q3 EPS SEK3.14 vs FactSet SEK3.07 [2 est, SEK2.90-3.23]

      • +8.1% SAAS.LN (Microlise Group Holdings £1.14, +0.09) -- expects services essentially back to normal by end of next week

      • +7.5% TIMA.GR (ZEAL Network €42.90, +3.00) -- confirms preliminary results; announces up to € 25M share buyback

      • +7.1% AMBEA.SS (Ambea AB SEK95.55, +6.30) -- Ambea's Nytida acquires Friab's operations within individual and family care for an undisclosed sum

      • +7.1% AMBEA.SS (Ambea AB SEK95.55, +6.30) -- Q3 EPS SEK3.13 vs FactSet SEK2.75 [2 est, SEK2.62-2.88]

      • +6.7% TBCG.LN (TBC Bank Group £30.35, +1.90) -- earnings

      • +6.5% LRE.LN (Lancashire Holdings £6.73, +0.41) -- Q3 Trading Statement: Gross premiums written increased by 9.0% y/y to $1.7B

      • +6.3% DIA.IM (DiaSorin €107.65, +6.35) -- earnings

      • +6.1% AKAST.NO (Akastor NOK13.60, +0.78) -- agrees to acquire Mitsui's interests in AKOFS Offshore AS for $22.5M

      • +6.1% TLT1V.FH (Teleste €2.27, +0.13) -- earnings

      • +5.7% SHL.GR (Siemens Healthineers €51.32, +2.76) -- Q4 EPS €0.67 ex-items vs consensus €0.60

      • +5.6% S9I.GR (STEMMER IMAGING €53.00, +2.80) -- successful completion of acquisition by MiddleGround capital

      • +5.4% CE.IM (Credito Emiliano €10.50, +0.54) -- Q3 net income €162.1M vs FactSet €149.3M [4 est, €144-162M] (post EU close 5-Nov)

      • +5.2% NAVA.NO (Navamedic NOK24.20, +1.20) -- launches Eroxon across pharmacies in Finland

      • +4.7% CRAYN.NO (Crayon Group Holding NOK111.00, +5.00) -- Q3 EPS NOK0.85 vs FactSet NOK0.86 [6 est, NOK0.60-1.20]

      • +4.7% DHG.ID (Dalata Hotel Group €4.61, +0.21) -- announces purchase of entire issued share capital of CG Hotels Dublin Airport Limited for €83M

      • +4.4% OSB.LN (OSB Group £3.61, +0.15) -- Q3 Trading update: Organic originations of £0.9B in Q3 of 2024 vs year-ago £1.3B

      • +4.2% JDW.LN (JD Wetherspoon £6.17, +0.25) -- Trading Update: Confident of a reasonable outcome for the year, although forecasting is more difficult given the extent of the increased costs

      • +4.2% NK.FP (Imerys €32.08, +1.30) -- update on the ongoing US talc-related litigation

      • +4.0% MOWI.NO (Mowi NOK198.55, +7.60) -- reports Q3 underlying EPS €0.21 vs FactSet €0.20 [10 est, €0.09-0.33]

      • +4.0% ODL.NO (Odfjell Drilling NOK54.40, +2.10) -- Q3 net income $19.0M vs FactSet $15.4M [6 est, $12-19M]; to increase quarterly dividend from Q4

      • +3.8% WISE.LN (Wise Plc £7.98, +0.30) -- H1 EPS 20.7p vs FactSet 19.0p [4 est, 13.4-21.7p]

      • +3.7% LMN.SW (lastminute.com CHF17.00, +0.60) -- Q3 net income €5.7M vs year-ago €2.8M; announces share buyback

      • +3.6% ZEAL.DC (Zealand Pharma DKK857.00, +30.00) -- update on Phase 1B 16-week multiple ascending dose

      • +3.2% AD.NA (Koninklijke Ahold Delhaize €31.59, +0.98) -- Q3 underlying EPS €0.62 vs consensus €0.57; reiterates FY24 outlook; announces €1B share buyback for 2025

      • +3.1% MKS.LN (Marks & Spencer Group £3.98, +0.12) -- H1 EPS 14.7p vs FactSet 12.4p [4 est, 12.0-12.7p]

      • +3.1% PUM.GR (Puma €43.54, +1.32) -- earnings

      • +2.7% DOM.LN (Domino's Pizza Group £3.26, +0.09) -- Q3 revenue £374.8M vs year-ago £363.7M; FY24 Underlying EBITDA to be in the range of current market expectations

      • +2.6% HAG.GR (HENSOLDT €32.70, +0.82) -- 9M adjusted EBITDA €187M, +24% vs year-ago €151M; confirms FY24 outlook

      • +2.6% PRU.LN (Prudential £6.64, +0.17) -- Q3 update: APE sales +7% on constant exchange rate y/y to 4.64B

      • +2.5% FRE.GR (Fresenius €34.75, +0.85) -- Q3 EPS €0.69 vs consensus €0.54; raises FY organic revenue growth growth guidance to +6-8% vs prior guidance +4-7%

      • +2.3% BMS.LN (Braemar £2.71, +0.06) -- earnings

      • +2.3% YOU.LN (YouGov £4.53, +0.10) -- confirms FY24 results as per 29-Oct update

      • +2.2% AKE.FP (Arkema €82.60, +1.75) -- Q3 adj EPS €2.25 vs consensus €2.36; expects to achieve FY24 EBITDA at lower end of its guidance range of €1.53B

      • +2.1% LOG.SM (Logista Integral €28.84, +0.60) -- 9M net income €308M vs year-ago €272M

      • +1.6% ECIT.NO (ECIT AS NOK9.86, +0.16) -- notes Olympus BidCo completion of previously announced acquisition of B- and C- class shares

      • +1.6% MZX.GR (Masterflex €8.88, +0.14) -- earnings

      • +1.5% C3RY.GR (Cherry €0.66, +0.01) -- confirms preliminary Q3 numbers as of 24-Oct

      • +1.5% NAS.NO (Norwegian Air Shuttle NOK10.62, +0.15) -- October traffic +11.0% y/y

      • +1.3% SPT.LN (Spirent Communications £1.71, +0.02) -- Q3 trading update; saw positive trading momentum in Q3 and will carefully monitor how this develops in coming months.

      • +1.2% BRE2.SS (Bredband2 i Skandinavien SEK2.06, +0.02) -- earnings

      • +1.2% COFA.FP (Coface €14.87, +0.17) -- 9M net income €207.7M, +9% vs year-ago €189.7M

      • +1.2% JEN.GR (Jenoptik €21.68, +0.26) -- announces financial targets for 2025 postponed by one year; revenue and earnings forecast for 2024 confirmed

      • +1.2% STLAM.IM (Stellantis €12.78, +0.15) -- EU clears One Equity Partners' acquisition of a stake in Comau S.p.A.

      • +1.0% BEZ.LN (Beazley £7.80, +0.08) -- Q3 Insurance written premiums $4.63B vs year-ago $4.33B

      • +0.9% BARN.SW (Barry Callebaut CHF1,569.00, +14.00) -- FY net income recurring CHF417.5M vs consensus CHF392M

      • +0.8% MULTI.NO (Multiconsult NOK192.50, +1.50) -- earnings

      • +0.7% VAIAS.FH (Vaisala €45.55, +0.30) -- updates the company's strategy and long-term financial targets

      • +0.6% HEALTH.FH (Nightingale Health €3.29, +0.02) -- new Chief Medical Officer

      • +0.6% NOVO.B.DC (Novo Nordisk DKK749.50, +4.10) -- Q3 EPS DKK6.12 vs consensus DKK6.00

      • +0.6% PST.IM (Poste Italiane €13.23, +0.08) -- earnings

      • +0.6% RUI.FP (Rubis €21.74, +0.13) -- Q3 revenue €1.63B vs FactSet €1.67B [1 est]

      • +0.4% GMAB.DC (Genmab DKK1,523.50, +5.50) -- reports Q3

      • +0.3% WBGR.B.SS (Wastbygg Gruppen SEK31.00, +0.10) -- earnings

      • +0.2% SAMPO.FH (Sampo €41.11, +0.09) -- Q3 EPS €0.64 vs consensus €0.61

      • +0.1% BP.LN (BP £3.87, +0.01) -- exploring sale of 51% stake in the Australian assets of Lightsource BP - Australian Financial Review

      • +0.1% BP.LN (BP £3.87, +0.01) -- to put all fuel stations in the Netherlands up for sale - Algemeen Dagblad

    • Notable Decliners

      • -32.8% XXL.NO (XXL ASA NOK34.28, -16.72) -- Q3 adjusted net income (NOK262.0M) vs FactSet (NOK48.0M)

      • -26.3% SINCH.SS (Sinch SEK24.43, -8.60) -- final Q3 earnings inline with preliminary release

      • -19.1% AZT.NO (ArcticZymes Technologies NOK13.80, -3.26) -- earnings

      • -15.5% EVT.GR (Evotec €7.10, -1.32) -- 9M Adjusted EBITDA (€6M) vs year-ago €50.2M

      • -13.5% KAMBI.SS (Kambi Group SEK118.70, -18.40) -- Q3 EPS €0.08 vs FactSet €0.12 [2 est, €0.10-0.14]. Launches €12M share buy back program

      • -13.5% XSPRAY.SS (Xspray Pharma SEK48.90, -7.65) -- rights issue; earnings

      • -13.0% TMV.GR (TeamViewer €11.54, -1.75) -- Q3 adjusted EBITDA €81.0M vs FactSet €74.3M [5 est, €67.2-78M]

      • -11.3% CRE.LN (Conduit Holdings £4.86, -0.61) -- trading update

      • -10.8% EDPR.PL (EDP Renovaveis €11.16, -1.36) -- 9M net income attributable €210M vs year-ago €445M

      • -10.8% ODF.NO (Odfjell NOK110.40, -13.40) -- Q3 EPS $0.90 vs FactSet $1.01 [4 est, $0.99-1.02]

      • -10.2% SOLI.LN (Solid State £2.15, -0.25) -- trading update

      • -8.2% ATORX.SS (Alligator Bioscience SEK0.66, -0.06) -- presents update with clinical and biomarker results with Mitazalimab in Phase 2 Pancreatic Cancer at SITC 2024

      • -8.0% PSN.LN (Persimmon £13.47, -1.17) -- Trading Statement: on track to grow FY completions to ~10,500

      • -7.7% AGY.LN (Allergy Therapeutics £0.05, -0.00) -- FY Trading Update: adj EBITDA (£6.8M) vs year-ago (£10.6M)

      • -7.3% AFISH.NO (Arctic Fish Holding NOK70.00, -5.50) -- earnings

      • -6.7% GL9.ID (Glanbia €14.49, -1.03) -- Q3 Trading Update: YTD Q3 Group performance in line with expectations; confirms FY guidance

      • -6.6% EVK.GR (Evonik Industries €18.77, -1.34) -- Q3 EPS €0.58 ex-items vs consensus €0.46; reaffirms FY guidance

      • -6.4% BMW.GR (Bayerische Motoren Werke €67.90, -4.62) -- Q3 EPS €0.64 vs FactSet €1.37 [6 est, €1.15-1.84]

      • -6.4% SOLB.BB (Solvay €35.49, -2.43) -- Q3 underlying net income €108M vs FactSet €97.5M [2 est, €85.9-109M]; confirms 2024 outlook

      • -6.3% MEKKO.FH (Marimekko €12.16, -0.82) -- earnings

      • -5.4% INW.IM (Infrastrutture Wireless Italiane €9.62, -0.56) -- reports Q3 net income €87.0M vs FactSet €99.3M [4 est, €94.8-105M]

      • -5.2% GEST.SM (Gestamp Automoción €2.53, -0.14) -- Q3 net income €21M vs FactSet €56.5M [5 est, €37.5-76M]

      • -5.2% LATO.B.SS (Latour Investment SEK282.40, -15.60) -- Q3 NAV SEK 216/share

      • -5.2% UCG.IM (UniCredit €40.62, -2.23) -- Q3 net income €2.51B vs consensus €2.27B; upgraded FY24 net profit guidance

      • -4.2% ACA.FP (Credit Agricole €13.62, -0.60) -- earnings

      • -4.1% KCO.GR (Kloeckner & Co. €4.56, -0.19) -- Q3 EPS from cont ops (€0.29) vs FactSet (€0.22) [2 est, (€0.29)-(0.14)]; guides FY24

      • -3.7% CTPNV.NA (CTP NV €14.66, -0.56) -- Q3 EPRA EPS €0.20 ex-items vs year-ago €0.18; confirms FY guidance

      • -3.6% CBK.GR (Commerzbank €15.99, -0.60) -- Q3 net income €642M vs consensus €529M; raises FY24 forecast for net interest income and CET1 ratio

      • -3.6% CBK.GR (Commerzbank €15.99, -0.60) -- selling SRT linked to portfolio of €2B in corporate loans - Bloomberg (5-Nov, 13:37 CET)

      • -3.6% HEN.GR (Henkel €70.70, -2.65) -- Q3 revenue €5.44B vs consensus €5.60B; FY24 guidance reiterated; clear chance to reach upper half of earnings ranges

      • -3.5% SCYR.SM (Sacyr Vallehermoso €2.95, -0.11) -- 9M net income attributable €74.0M vs year-ago €73.1M

      • -3.2% BAMI.IM (Banco BPM €6.29, -0.21) -- reports Q3

      • -2.9% UMI.BB (Umicore €10.86, -0.32) -- shares details on cost saving measures and pauses construction of its battery materials plant in Canada

      • -2.7% NXI.FP (Nexity €13.90, -0.38) -- Crédit Agricole Immobilier completes previously announced acquisition of Nexity Property Management

      • -2.6% G1A.GR (GEA Group €44.72, -1.18) -- Q3 net income €112M vs FactSet €113.1M [3 est, €111.9-114M]

      • -2.6% PION.B.SS (PION Group SEK6.02, -0.16) -- earnings

      • -2.4% MVIR.SS (Medivir SEK2.81, -0.07) -- Q3 EPS (SEK0.30) vs FactSet (SEK0.34) [2 est, (SEK0.41)-(0.27)]

      • -1.9% ASSA.B.SS (Assa Abloy SEK334.60, -6.30) -- acquires Lawrence Doors in the US; acquisition will be accretive to EPS from the start.

      • -1.7% PNDORA.DC (Pandora DKK1,041.50, -18.00) -- reports Q3 net income DKK595M vs consensus DKK551.6M; current trading in Oct has seen LFL growth at mid-single-digit levels

      • -1.6% KAR.SS (Karnov Group SEK79.20, -1.30) -- Q3 net income (SEK32.7M) vs FactSet SEK0.5M [2 est, (SEK13)-14M]

      • -1.6% ACE.IM (ACEA €16.67, -0.28) -- signs agreement with Terna for the purchase of part of the high-voltage transmission grid in Rome for approx. €224M

      • -1.5% AAL.LN (Anglo American £23.82, -0.38) -- Questions on availability of Anglo American's 88% stake in Moranbah North after Jellinbah sale - Australian Financial Review

      • -1.5% RF.FP (Eurazeo €67.80, -1.00) -- records dynamic asset management growth and a pick-up in realizations in the first 9M of 2024, in line with its strategic plan

      • -1.4% VNA.GR (Vonovia €29.22, -0.43) -- 9M adjusted EBITDA €1.99B vs year-ago €1.96B

      • -1.2% TRN.IM (TERNA Rete Elettrica Nazionale €7.82, -0.09) -- signs agreement with ACEA for the purchase of part of the high-voltage transmission grid in Rome for approx. €224M

      • -0.9% RATO.B.SS (Ratos SEK33.10, -0.30) -- acquires KB Gruppen's 24% minority holding in the Norwegian infrastructure maintenance company Presis Infra for NOK 895M

      • -0.8% BPSO.IM (Banca Popolare di Sondrio €7.14, -0.06) -- earnings

      • -0.8% HLE.GR (FORVIA HELLA €86.00, -0.70) -- 9M operating income €344M, (5%) vs year-ago €363M

      • -0.8% SUY1V.FH (Suominen €2.48, -0.02) -- Q3 EPS (€0.06) vs FactSet €0.02 [3 est, €0.01-0.03]

      • -0.6% SIKA.SW (Sika Group CHF240.20, -1.50) -- completes the acquisition of Chema

      • -0.5% AKER.NO (Aker ASA NOK560.00, -3.00) -- Q3 NAVPS before dividend allocation NOK767 vs year-ago NOK862

      • -0.4% G.IM (Assicurazioni Generali €25.28, -0.11) -- Generali exploring deal to acquire MGG Investment Group - Bloomberg (5-Nov, 15:51 CET)

      • -0.3% ORRON.SS (Orrön Energy SEK7.08, -0.02) -- Q3 EPS (€0.04) vs year-ago (€0.03)

      • -0.2% AO.LN (AO World £1.04, -0.00) -- FCA approves AO World's acquisition of musicMagpie

      • -0.2% MOBN.SW (Mobimo Holding CHF270.50, -0.50) -- provides business update; Appoints Nadia Mastacchi as Head of Portfolio and Transactions as of 1-Mar-25

      • -0.2% NEOEN.FP (Neoen €39.40, -0.06) -- Q3 revenue €122.7M, +2% vs year-ago €120.5M

      • -0.1% ATCO.A.SS (Atlas Copco SEK177.85, -0.25) -- acquires compressor distributor in Türkiye SCS Makina A.S.; price not disclosed

  EU companies reporting tomorrow:

  • Austria: VERBUND (VER.AV), Semperit (SEM.AV), Mayr-Melnhof Karton (MMK.AV), Lenzing (LNZ.AV)

  • Benelux: ArcelorMittal (MT.NA), FL Entertainment NV (BNJ.NA), KBC Group (KBC.BB), Groupe Bruxelles Lambert (GBLB.BB), Titan Cement International (TITC.BB)

  • Denmark: Zealand Pharma (ZEAL.DC), Alm. Brand (ALMB.DC), GN Store Nord (GN.DC), TORM (TRMD.A.DC), DFDS (DFDS.DC), ChemoMetec (CHEMM.DC), cBrain (CBRAIN.DC)

  • Finland: Kojamo (KOJAMO.FH), Harvia (HARVIA.FH), CapMan (CAPMAN.FH), Relais Group (RELAIS.FH), Pihlajalinna (PIHLIS.FH)

  • France: ENGIE (ENGI.FP), Legrand (LR.FP), Veolia Environnement (VIE.FP), Euronext (ENX.FP), Air France-KLM (AF.FP), SES (SESG.FP), Abivax (ABVX.FP), NRJ Group (NRG.FP), Valneva (VLA.FP)

  • Germany: Munich Re (MUV2.GR), Daimler Truck Holding (DTG.GR), Rheinmetall (RHM.GR), Heidelberg Materials (HEI.GR),Nemetschek (NEM.GR), Rational (RAA.GR), Hochtief (HOT.GR), Fielmann Group (FIE.GR), freenet (FNTN.GR), Nordex (NDX1.GR), Synlab (SYAB.GR), LANXESS (LXS.GR), Biotest (BIO3.GR), Durr (DUE.GR), alstria office REIT (AOX.GR), SUSS MicroTec (SMHN.GR), Adtran Networks (ADV.GR), PNE (PNE3.GR), Rhoen-Klinikum (RHK.GR), CompuGroup Medical (COP.GR), SGL Carbon (SGL.GR), DEUTZ (DEZ.GR), Hamborner REIT (HABA.GR), SNP Schneider-Neureither & Partner (SHF.GR), STEMMER IMAGING (S9I.GR), Knaus Tabbert (KTA.GR)

  • Greece: Eurobank Ergasias Services & Holdings (EUROB.GA), National Bank of Greece (ETE.GA),Public Power Corp. (PPC.GA)

  • Italy: Leonardo (LDO.IM), Unipol Gruppo (UNI.IM), Nexi (NEXI.IM), Banca Monte dei Paschi di Siena (BMPS.IM), Pirelli & C. (PIRC.IM), Banca Generali (BGN.IM), Azimut Holding (AZM.IM), Brembo (BRE.IM), Iveco Group (IVG.IM), Carel Industries (CRL.IM), BFF Bank (BFF.IM), Banca IFIS (IF.IM), Zignago Vetro (ZV.IM), Banco di Desio e della Brianza (BDB.IM), D'Amico International Shipping (DIS.IM), Ascopiave (ASC.IM), Philogen (PHIL.IM), illimity Bank SpA (ILTY.IM), Datalogic (DAL.IM), IGD SIIQ (IGD.IM)

  • Norway: AutoStore Holdings Ltd. (AUTO.NO), Veidekke (VEI.NO), DOF Group (DOFG.NO), DNO (DNO.NO), Hexagon Composites (HEX.NO), Grieg Seafood (GSF.NO), ECIT (ECIT.NO), Pexip Holding (PEXIP.NO), Elmera Group (ELMRA.NO), B2 Impact (B2I.NO), Selvaag Bolig (SBO.NO), REC Silicon (RECSI.NO), Salmon Evolution (SALME.NO)

  • Portugal: EDP-Energias de Portugal (EDP.PL)

  • Spain: Telefonica (TEF.SM), Amadeus IT Group (AMS.SM), Grifols (GRF.SM), Laboratorios Farmaceuticos Rovi (ROVI.SM), AEDAS Homes (AEDAS.SM),

  • Sweden: Millicom International Cellular (TIGO.SS), Camurus (CAMX.SS), Hufvudstaden (HUFV.A.SS), Truecaller (TRUE.B.SS), New Wave Group (NEWA.B.SS), Storskogen Group (STOR.B.SS), MEKO (MEKO.SS),

  • Switzerland: Valiant Holding (VATN.SW), ams-OSRAM (AMS.SW),

  • UK: BT Group (BT.A.LN), National Grid (NG.LN), J Sainsbury (SBRY.LN), Auto Trader Group (AUTO.LN), Tate & Lyle (TATE.LN), Burford Capital Ltd. (BUR.LN), Trainline (TRN.LN), Wizz Air Holdings (WIZZ.LN), Helios Towers (HTWS.LN)

  • Trading Update:

    • Benelux: Adyen (ADYEN.NA), Aalberts (AALB.NA), Koninklijke BAM Groep (BAMNB.NA), Alfen (ALFEN.NA)

    • DACHs: Delivery Hero (DHER.GR)

    • France: JCDecaux (DEC.FP), Equasens (EQS.FP), Viel & Cie (VIL.FP), Delta Plus Group (ALDLT.FP), Genfit (GNFT.FP), AKWEL (AKW.FP), LNA Sante (LNA.FP), Bonduelle (BON.FP), HEXAOM (ALHE.FP), Wallix Group (ALLIX.FP)

    • Nordics: Novonesis (NSIS.B.DC), Gubra (GUBRA.DC), Clas Ohlson (CLAS.B.SS)

    • Southern Europe: Safilo Group (SFL.IM)

    • Switzerland: Zurich Insurance Group (ZURN.SW), Vontobel Holding (VONN.SW), Compagnie Financiere Tradition (CFT.SW)

    • UK: Taylor Wimpey (TW.LN), Howden Joinery Group (HWDN.LN), IMI (IMI.LN), Hikma Pharmaceuticals (HIK.LN), Derwent London (DLN.LN), John Wood Group (WG.LN), Vanquis Banking Group (VANQ.LN)

    • Traffic: Finnair Oyj (FIA1S.FH)

    • CMD/events: Vontobel Holding (VONN.SW), ABOUT YOU Holding (YOU.GR), Fasadgruppen Group (FG.SS)

Data:

• Economics:

  • Germany Sep Factory Orders +4.2% m/m vs cons +1.5% and prior revised (5.4%) from (5.8%)

  • Oct Services PMI

    • Eurozone 51.6 vs preliminary 51.2

    • Germany 51.6 vs preliminary 51.4

    • France 49.2 vs preliminary 48.3

    • Spain 54.9 vs consensus 56.8 and prior 57.0

    • Italy 52.4 vs consensus 50.5 and prior 50.5

  • Eurozone Sep PPI (3.4%) y/y vs consensus (3.5%) and prior (2.3%); (0.6%) m/m vs consensus (0.6%) and prior +0.6%

  • UK Oct Construction PMI 54.3 vs consensus 55.5 and prior 57.2

• Markets:

  • WTI Crude (Dec 24): +$0.53 or +0.74% to $72.00

  • €-$ (0.0203) or (1.86%) to 1.0728

  • £-$ (0.0165) or (1.26%) to 1.2878

  • €-£ (0.0049) to 0.8331

  • S&P 500 +3.27%

  • Performance year-to-date

    • FTSE 100: +5.53%

    • DAX: +13.64%

    • CAC: (2.50%)

    • MIB: +11.75%

    • Stoxx 600: +5.74%