Θετικά πρόσημα επικράτησαν στην τελευταία συνεδρίαση της εβδομάδας για τα περισσότερα ευρωπαϊκά χρηματιστήρια, με τον κλάδο της ενέργειας να πραγματοποιεί τα μεγαλύτερα κέρδη και αυτόν της κοινής ωφέλειας τις μεγαλύτερες απώλειες.
Ανοδικές τάσεις επικράτησαν σήμερα στα περισσότερα ευρωπαϊκά χρηματιστήρια, με το θετικό κλίμα να ενισχύουν τα καλά εταιρικά νέα που ανακοινώθηκαν σήμερα, καθώς και οι προσδοκίες ότι η ΕΚΤ θα προχωρήσει στην πρώτη μείωση των επιτοκίων της τον Απρίλιο ή τον Ιούνιο, με τον δείκτη Stoxx 600 να πραγματοποιεί σήμερα υψηλό δύο ετών.
Ο πληθωρισμός στην ευρωζώνη θα μπορούσε να μειωθεί ταχύτερα από ό,τι αναμενόταν φέτος, καθώς η οικονομική ανάπτυξη θα παραμείνει αναιμική, όπως έδειξαν δύο βασικές έρευνες που δημοσίευσε την Παρασκευή η Ευρωπαϊκή Κεντρική Τράπεζα (ΕΚΤ), ενισχύοντας πιθανώς τα στοιχήματα για μείωση των επιτοκίων από την άνοιξη.
Ο πληθωρισμός το 2024 θα μπορούσε να είναι κατά μέσο όρο 2,4%, λιγότερο από το 2,7% που είχε σημειωθεί πριν από τρεις μήνες και από το 2,7% που προέβλεπε το προσωπικό της ΕΚΤ, έδειξε η Έρευνα Επαγγελματικών Προβλέψεων της ΕΚΤ, η οποία αποτελεί βασική εισροή στις διαβουλεύσεις της τράπεζας για την πολιτική της.(περισσότερα εδώ)
Στα κυριότερα μακροοικονομικά νέα:
Στην Γερμανία ο δείκτης Επιχειρηματικών Προσδοκιών για τον μήνα Ιανουάριο υποχώρησε στις 83,5 μονάδες έναντι εκτιμήσεων των οικονομολόγων για 84,8 μονάδες και 84,2 μονάδες τον προηγούμενο μήνα (αναθεωρημένο από τις 84,3 μονάδες). Ο δείκτης Τρέχουσας Κατάστασης για τον μήνα Ιανουάριο υποχώρησε στις 87,0 μονάδες έναντι εκτιμήσεων των οικονομολόγων για 88,5 μονάδες και 88,5 μονάδες τον προηγούμενο μήνα. Ο δείκτης Επιχειρηματικού Κλίματος για τον μήνα Ιανουάριο υποχώρησε στις 85,2 μονάδες έναντι εκτιμήσεων των οικονομολόγων για 86,7 μονάδες και 86,3 μονάδες τον προηγούμενο μήνα (αναθεωρημένο από τις 86,4 μονάδες).
Στα κυριότερα μακροοικονομικά νέα:
Στην Γερμανία ο δείκτης GfK Καταναλωτικού Κλίματος για τον μήνα Φεβρουάριο υποχώρησε στις -29,7 μονάδες έναντι εκτιμήσεων των οικονομολόγων για -24,5 μονάδες και -25,4 μονάδες τον προηγούμενο μήνα (αναθεωρημένο από τις -25,1 μονάδες).
Ο δείκτης Stoxx 600 έκλεισε στις 484,10 μονάδες με άνοδο 1,17%.
Στην Φρανκφούρτη ο δείκτης DAX έκλεισε στις 16.961,07 μονάδες με άνοδο 0,32%, πραγματοποιώντας ιστορικό υψηλό και εβδομαδιαία κέρδη 2,38%, με το σήμα να διατηρείται σε strong buy, και με την στήριξη να βρίσκεται στις 16.790 μονάδες και την επόμενη στις 16.299 μονάδες.
Μεγαλύτερη άνοδος
Μεγαλύτερη πτώση
Στο Λονδίνο ο δείκτης FTSE 100 έκλεισε στις 7.637,05 μονάδες με άνοδο 1,43%, πραγματοποιώντας εβδομαδιαία κέρδη 2,34%, μετατρέποντας το σήμα από strong sell σε strong buy, και με την αντίσταση να βρίσκεται στις 7.733 μονάδες και την στήριξη στις 7.531 μονάδες.
Μεγαλύτερη άνοδος
Μεγαλύτερη πτώση
Στο Παρίσι ο δείκτης CAC 40 έκλεισε στις 7.634,14 μονάδες με άνοδο 2,28%, πραγματοποιώντας νέα ιστορικά υψηλά και εβδομαδιαία κέρδη 3,54%, με το σήμα να διατηρείται σε strong buy, και με την στήριξη να βρίσκεται στις 7.587 μονάδες.
Μεγαλύτερη άνοδος
Μεγαλύτερη πτώση
Recommendations
SAP: In his latest research note, analyst Toby Ogg confirms his positive recommendation. The broker JP Morgan is keeping its Buy rating. The target price has been raised from EUR 160 to EUR 182.
Alstom: UBS confirms his opinion on the stock and remains Neutral. The target price is unchanged and still at EUR 12.70.
ASML: In a research note published by Francois-Xavier Bouvignies, UBS advises its customers to buy the stock. The target price has been raised to EUR 880 from EUR 785.
Swiss RE: In his latest research note, analyst Derald Goh confirms his recommendation. The broker RBC is keeping its Neutral rating. The target price continues to be set at CHF 103.
PUMA: Jefferies downgrades his rating from Buy to Neutral. The target price is reduced from EUR 65 to EUR 40.
PUMA: DZ Bank analyst Thomas Maul maintains his Buy rating on the stock.
Εταιρικά νέα
AXA: Analyst Farooq Hanif from JP Morgan research considers the stock attractive and recommends it with a Buy rating. The target price is unchanged and still at EUR 39.
Givaudan: In a research note published by Charles Eden, UBS advises its customers to Sell the stock. The target price is being increased from CHF 2860 to CHF 2950.
Adidas: Zuzanna Pusz from UBS retains his positive opinion on the stock with a Buy rating. The target price is set at 203 versus 207 EUR.
LVMH: UBS confirms his opinion on the stock and remains Neutral. The target price has been modified and is now set at EUR 760 compared to EUR 747.
STMicroelectronics: In his latest research note, analyst Francois-Xavier Bouvignies confirms his positive recommendation. The broker UBS is keeping its Buy rating. The target price is lowered from EUR 54 to EUR 52.
SAP: Michael Briest from UBS retains his positive opinion on the stock with a Buy rating. The target price has been revised upwards and is now set at EUR 191, compared with EUR 168 previously.
Evotec: In a research note published by Peter Welford, Jefferies advises its customers to buy the stock. The target price is lowered from EUR 34 to EUR 28.
JCDecaux: Initially Neutral on the company, UBS’s analyst Adam Berlin maintained his recommendation. The target price is unchanged at EUR 20.20.
Εταιρικά νέα
Paragon Banking Group said that first-quarter performance has been in line with the board’s expectations, and reiterated its full-year guidance. The specialist U.K. property-and-business lender said Friday that new lending across the business for the quarter ended Dec. 31 was 610.7 million pounds ($776.1 million) compared with GBP861.7 million for the same period a year earlier. Their buy-to-let lending pipeline ended the quarter at GBP559.6 million but is now comfortably above the 2023 year-end level, the company added. Paragon’s net balance sheet loans grew by 1.1% to GBP15.04 billion during the period. Its common equity Tier 1 and total capital ratios remained strong at 14.7% and 16.7% respectively, the company said. It added that guidance for margins, new business flows, operating costs and return on tangible equity for fiscal 2024 remain unchanged, although margins are currently running slightly ahead of expectations. “The first quarter of the new year has started well. The positive momentum seen in the business in 2023 has continued, alongside robust margins and a resilient credit performance,” Chief Executive Nigel Terrington said.
Wickes Group said it expects adjusted profit for last year to have reached the upper end of market forecasts, with broadly flat like-for-like sales.
The home-improvement retailer said Friday that like-for-like sales for 2023 fell 0.3%. It said it delivered a good performance on core like-for-like sales, which rose 1.2% in the fourth quarter on positive volume growth. DIFM, or do-it-for-me, sales were slightly down on year, with a fourth-quarter sales decline of 14% reflecting a more subdued consumer environment for larger projects and delivery delays, it said. Wickes said it expects to meet the upper end of company provided adjusted pretax profit market forecasts for 2023 of 44.9 million to 48.3 million pounds ($57.1 million-$61.4 million), compared with GBP75.4 million for 2022. Core business has been in line with the prior year in the first few weeks of 2024, it said. In DIFM, the company expects delivered sales to fall on year, reflecting expected normalization of the order book post-pandemic and fewer new leads in the market. “”We remain confident in our growth levers and in 2023 we have invested further in new stores, refits and our digital capability. This leaves us well-placed to continue to outperform the market in 2024 and beyond,” Chief Executive David Wood said.
WH Smith said revenue rose on a particularly strong performance in the U.K. The books, magazine and snack retailer–which has sites around airports and train stations as well as in the high street–said total revenue for the 20 weeks to Jan. 20 rose 8% compared with the same period a year ago. Revenue on a like-for-like basis rose 5%. In Travel UK–the company’s largest division–revenue rose 15%, or 14% on a like-for-like basis. High-street revenue declined 4%, in line with the boards expectations. WH Smith didn’t provide a specific figure for revenue. However, last year, it reported revenue for the six months ended Feb. 28 of 859 million pounds ($1.09 billion). The company said it continues to make strong progress in North America, and was on track to open more than 50 stores in the region over fiscal 2024. “We have made a good start to the financial year and, while there is some economic uncertainty, we are confident of another year of significant growth in 2024,” the company said.
Volvo increased its dividend after posting an 82% rise in fourth-quarter earnings, but cautioned that truck demand is normalizing while construction equipment demand is weakening in most markets. The Swedish truck maker said Friday that truck deliveries rose 4.4% in the quarter but order intake fell 8.8%, amid a continuing normalization of demand that reflects somewhat lower transport volumes and a weaker macroeconomy. Continued supply disturbances and a six-week strike at Mack Trucks affected productivity and costs in the quarter, it said. Volvo reported a net profit of 12.05 billion Swedish kronor ($1.15 billion) compared with SEK6.62 billion a year earlier as sales rose 10% on the year to SEK148.12 billion. Analysts polled by FactSet had seen a net profit of SEK12.65 billion on sales of SEK136.3 billion. The company reported an adjusted operating margin of 12.4% from 9.1%. “We successfully mitigated cost inflation with price management, handled disturbances in the supply chain and reduced inventories,” Chief Executive Martin Lundstedt said. “With demand normalizing across several of our segments and markets, we are gradually adjusting our production levels.” Volvo lowered its 2024 truck market forecasts for Europe and India, lifted it for Brazil and China, and maintained it for North America. The company proposed an ordinary dividend of SEK7.50 a share and an extra dividend of SEK10.50 a share, up from SEK14 last year.
Remy Cointreau expects a sales decline in fiscal 2024 at the steeper end of its previous forecast after third-quarter sales took a hit from intense promotional activity in the U.S. cognac market and a slower-than-expected economic recovery in China. The French distiller said it now expects sales for the year ending in March to fall by close to 20% on an organic basis, having previously anticipated a decline of between 15% and 20%. The company continues to forecast a contained deterioration in profitability thanks to a cost-cutting plan that is estimated to save it 100 million euros ($108.5 million) in the current fiscal year. Sales for the quarter ended December were EUR319.9 million , down 27% on the year-earlier period, Remy Cointreau said. On an organic basis, sales fell 24%. The company said quarterly cognac sales fell 34% organically, while sales in its liqueurs and spirits division rose 4.3%.
Lonza Group said it expects sales growth to be flat in 2024, after it reported sharply lower earnings despite higher revenue for last year due to continued investments. The Swiss life-sciences company said Friday that it anticipates sales at constant exchange rates to be flat this year compared with 2023, and a core earnings before interest, taxes, depreciation and amortization margin in the high twenties range. For 2023, Lonza reported a net profit of 655 million Swiss francs ($755.5 million) compared with CHF1.22 billion a year before. Sales climbed 7.9% to CHF6.72 billion, with rises in biologics and small molecules offsetting a decline in its capsules-and-health ingredients segment. Core Ebitda was up 0.2% to CHF2.0 billion with a margin of 29.8%, down from 32.1%. The company said it intends to propose an increase in its dividend to CHF4 a share from CHF3.50, while it continues to execute a share buyback of up to CHF2 billion that it expects to complete in the first half of 2025.
Signify reported a 30% fall in net profit for the fourth quarter and said it expects its challenges to persist into the new year. The Dutch lighting company made a net profit of 56 million euros ($60.8 million) for the quarter ended Dec. 31 compared with EUR84 million for the same period a year earlier. Sales fell to EUR1.73 billion from EUR1.98 billion, missing a market consensus of EUR1.79 billion taken from the company’s website. On a comparable basis, Signify’s quarterly sales fell 7.7%. Adjusted earnings before interest, taxes and amortization–one of the company’s preferred metrics, which strips out exceptional and other one-off items–was EUR209 million compared with EUR202 million a year earlier and matching a consensus of EUR209 million. The adjusted Ebita margin rose to 12.1% from 10.2%, beating a company-provided forecast of 9.5%-10.5%. The company said it expects 2024’s adjusted Ebita margin to improve by up to half a percentage point. The board raised its dividend for the year to EUR1.55 from EUR1.50. “While we anticipate challenging conditions will persist through the year ahead, I am confident in our strategy and in our proven ability to adapt,” Chief Executive Eric Rondolat said.