Ανοδικές τάσεις επικράτησαν σήμερα στα περισσότερα ευρωπαϊκά χρηματιστήρια, με τις μετοχές του κλάδου βιομηχανίας να σημειώνουν τα μεγαλύτερα κέρδη, κι αυτές του κλάδου ταξιδίων & αναψυχής να πραγματοποιούν τις μεγαλύτερες απώλειες.
Το θετικό κλίμα τροφοδότησαν σήμερα τα καλά εταιρικά νέα που ανακοινώθηκαν από γνωστές ευρωπαϊκές εταιρείες (βλ. παρακάτω), καθώς και οι προσδοκίες ότι η Ομοσπονδιακή Τράπεζα των ΗΠΑ έχει ολοκληρώσει τον κύκλο αύξησης των επιτοκίων της και ότι στο τέλος του πρώτου εξαμήνου του επόμενου έτους ίσως προχωρήσει στην πρώτη μείωση αυτών.
Ο δείκτης Stoxx 600 έκλεισε στις 448,12 μονάδες με άνοδο 0,91%.
Στην Φρανκφούρτη ο δείκτης DAX έκλεισε στις 15.352,05 μονάδες με άνοδο 0,80%, μετατρέποντας το σήμα από neutral σε strong buy, με την αντίσταση να βρίσκεται στις 15.547 μονάδες και την στήριξη στις 14.959 μονάδες.
Μεγαλύτερη άνοδος
Μεγαλύτερη πτώση
Στο Λονδίνο ο δείκτης FTSE 100 έκλεισε στις 7.456,99 μονάδες με άνοδο 0,75%, μετατρέποντας το σήμα από sell σε neutral, με την αντίσταση να βρίσκεται στις 7.528 μονάδες και την στήριξη στις 7.263 μονάδες.
Μεγαλύτερη άνοδος
Μεγαλύτερη πτώση
Στο Παρίσι ο δείκτης CAC 40 έκλεισε στις 7.112,46 μονάδες με άνοδο 1,11%, παραμένοντας με σήμα strong buy, με την αντίσταση να βρίσκεται στις 7.166 μονάδες και την στήριξη στις 6.923 μονάδες.
Μεγαλύτερη άνοδος
Μεγαλύτερη πτώση
Recommendations
DHL: Samuel Bland from JP Morgan retains his negative opinion on the stock with a Sell rating. The target price is revised downwards from EUR 36.40 to EUR 34.80.
Unilever: Barclays’s analyst Warren Ackerman has upgraded his rating from Neutral to Buy. The target price has been revised upwards and is now set at GBX 4600, compared with GBX 4300 previously.
Ahold Delhaize: Initially at the time of purchase, the broker revises his recommendation downwards. William Woods published a research note and has a neutral opinion. The target price has been revised downwards and is now set at EUR 29 as compared to EUR 34 previously.
ThyssenKrupp: Societe Generale is positive on the stock with a Buy rating. The target price remains unchanged at EUR 29.
Airbus: Chloe Lemarie from Jefferies retains his positive opinion on the stock with a Buy rating. The target price continues to be set at EUR 150.
ADYEN: Jefferies confirms his opinion on the stock and remains Neutral. The target price remains unchanged at EUR 720.
Commerzbank: In a research note, JP Morgan analyst Kian Abouhossein has maintained his recommendation on the stock with a Neutral rating. The target price is revised upwards from EUR 15.00 to EUR 14.30.
Εταιρικά νέα
National Grid said its fiscal first-half pretax profit fell as adjusted operating profit missed consensus, and that it expects new U.K. legislation to weigh on underlying earnings per share. The U.K. electricity-transmission network operator said Thursday that for the six months ended September, pretax profit was 1.25 billion pounds ($1.54 billion) compared with GBP1.67 billion the year before. Underlying operating profit–which excludes exceptional items, remeasurements and timing–fell 15% to GBP1.8 billion, the company said. Company-compiled consensus for the metric was GBP4.48 billion. National Grid said this was due to non-recurring items reported in fiscal 2023. Revenue fell to GBP8.49 billion from GBP9.44 billion. National Grid declared an interim dividend of 19.40 pence a share, up from 17.84 pence a year earlier. The company said that although new capital allowances legislation will affect adjusted EPS by 6 pence to 7 pence a share it doesn’t see an economic impact over the long term. The company updated its financial outlook over the five-year period to 2026. National Grid raised its total cumulative capital investment to up to GBP42 billion from prior guidance of GBP40 billion.
AstraZeneca raised its full-year guidance for core earnings per share and total revenue excluding Covid-19 medicines despite a lower third-quarter profit that missed forecasts after booking a tax charge compared with a credit for the comparable period. The Anglo-Swedish pharmaceutical giant said Thursday that it expects core earnings per share to increase by a low double-digit percentage compared with previous guidance of a high single-digit to low double-digit percentage increase. Total revenue excluding Covid-19 medicines is now expected to increase by a low-teens percentage at constant-exchange rates compared with previous expectations of low double-digit percentage growth. Total revenue is expected to increase by a mid single-digit percentage compared with previous guidance of low-to-mid single-digit, it said. Net profit attributable to shareholders for the quarter was $1.37 billion compared with $1.64 billion and a FactSet consensus of $1.58 billion, based on four analysts forecasts. It booked a tax charge of $274 million compared with a credit of $720 million. Core earnings per share rose to $1.73 compared with $1.67, a rise of 9% at constant-exchange rates. Revenue rose to $11.49 billion from $10.98 billion, up 6% at constant-exchange rates. Revenue consensus was $11.55 billion, while core EPS consensus was $1.69.
3i Group posted a fall in total and gross investment returns for first half of fiscal 2024 against a tough macroeconomic environment. The international investment manager posted a total return–its comprehensive income–of 1.67 billion pounds ($2.05 billion) for the six months ended Sept. 30 compared with GBP1.765 billion for the same period a year earlier. This represents a 10% return on opening shareholders’ funds compared with 14%, it said Thursday. Gross investment return fell to GBP1.87 billion from GBP2.02 billion, it said. Its private-equity business contributed GBP1.83 billion to the result, down from GBP1.97 billion a year prior. Action–the European discount retailer that makes up most of its portfolio–continues to perform well and had like-for-like sales growth of 19% of the first nine months of the calendar year, it said. Net asset value per share rose to 1,886 pence as of Sept. 30 from 1,745 pence at March 31. The board declared an interim dividend of 26.5 pence a share, up from 23.25 pence the prior year. “We have a strong balance sheet and are under no pressure to sell companies if the price or terms do not properly reflect the prospects of the business,” Chief Executive Simon Borrows said.
Auto Trader Group pretax profit rose together with revenue after a strong performance in the core business, as it recorded a record number of buyers.
The London-listed digital automotive marketplace said Thursday that pretax profit for the half year ended Sept. 30 was 162.8 million pounds ($200.0 million) compared with GBP148.0 million a year prior. Revenue was GBP280.5 million, from GBP249.8 million. Monthly average revenue per retailer per month was up GBP279 to GBP2,683 on average per month, driven by price and product levers. The board declared an interim dividend of 3.2 pence a share, up from 2.8 pence a year earlier. Auto Trader said the used car market continues to be resilient. The volume of buyers is at record levels, supported by stable consumer sentiment toward car buying and the continued availability of finance. Used car supply has gradually improved as new car registrations grew and used car pricing remains robust, while vehicles on the site continue to sell quicker than prepandemic levels. The company said it was confident for the second half of the year, and expects another year of retailer revenue growth. Group margins are expected to increase on-year.
Veolia Environnement confirmed its 2023 targets after it reported an increase in earnings for the first nine months of the year on higher sales. The French resource-management company said it made 4.79 billion euros ($5.13 billion) in earnings before interest, taxes, depreciation and amortization for the nine-month period, compared with EUR4.53 billion a year prior, on revenue that grew by 11% on a like-for-like basis to EUR33.16 billion. Its result was driven by the business momentum it said carried over from the first-half of the year into the third quarter. “This very strong performance is underpinned by solid fundamentals such as our resistance to inflation, thanks to the indexation of 70% of our contracts to cost increases, our very low exposure to macroeconomic conditions, and our geographical positioning,” Chief Executive Estelle Brachlianoff said in a statement. The company added that it confirmed its 2023 targets and expects Ebitda growth at the upper end of the 5% to 7% range.
Rheinmetall confirmed its guidance for the year after third-quarter sales and orders grew on the back of strong demand for ammunition in a defense landscape significantly altered by Russia’s invasion of Ukraine and, more recently, the Israel-Hamas war. The arms manufacturer continues to expect sales this year of between 7.4 billion and 7.6 billion euros ($7.93 billion-$8.14 billion), with an operating margin of roughly 12%. “Many countries need Rheinmetall in order to meet the dramatically increased demand for military equipment–this is demonstrated by record figures for new orders and orders on hand,” Chief Executive Armin Papperger said. Rheinmetall’s order intake in the third quarter surged to EUR2.57 billion from EUR703 million last year. Sales climbed to EUR1.76 billion from EUR1.42 billion, while operating profit increased to EUR191 million from EUR120 million, generating an operating margin of 10.8%, in line with preliminary figures it had released last month. Net profit climbed to EUR102 million from EUR77 million. Analysts had forecast sales of EUR1.76 billion, an operating profit of EUR165.4 million on a 9.4% margin and a net profit of EUR90.1 million for the quarter, according to a Vara Research consensus.
Henkel AG & Co. lifted its expectations for the year after higher prices boosted sales in the third quarter. The German consumer-goods and chemicals group made sales of 5.44 billion euros ($5.83 billion) between July and September, in line with expectations, per a FactSet poll of analysts. This represents a 2.8% organic increase on year, said the company, which owns consumer brands like detergent Persil and cosmetics label Schwarzkopf, alongside a division making industrial sealants and adhesives. Nominally, sales were 9% lower on year, a result of foreign-exchange effects and other moves including a withdrawal from Russia, Henkel said. Organically, growth was driven by higher prices, especially in the consumer division, while volumes sank in both businesses. “Volume development was negative but showed a noticeable improvement compared to the second quarter,” the company said. Henkel now expects a slightly higher range in its sales growth for the year, it said, forecasting organic growth of 3.5%-4.5% from 2.5%-4.5% previously. Similarly, the operating margin should stand at 11.5%-12.5%, versus a previous forecast of 11.0%-12.5%, Henkel said. Last year, Henkel made sales of EUR22.4 billion, with an operating margin of 8.1%. “We have continued to consistently drive our strategic priorities in both business units in the third quarter. Thus, we remain on track to generate further growth,” Chief Executive Carsten Knobel said.
ArcelorMittal reported a decrease in third-quarter earnings after steel shipments and prices fell. The Luxembourg-based steelmaker said Thursday that net profit was $929 million compared with $993 million in the prior year on sales that fell 12% to $16.62 billion. Its earnings before interest, taxes, depreciation and amortization fell 30% to $1.86 billion. The result compares with analysts’ expectations of $1.81 billion in Ebitda and $909 million in net profit, according to a company-provided consensus. ArcelorMittal said its results reflected a fall in steel shipments and lower average steel selling prices, which declined 12% in the quarter. Steel shipments in the period decreased 3.7% from the second quarter of the year to 13.7 million metric tons, with declines in Europe and the Nafta region of Canada, Mexico and the U.S. Shipments were nearly level compared with the 13.6 million tons reported for the third quarter of the prior year, ArcelorMittal said. The company said it is conducting an internal review of its safety program after the accident at its ArcelorMittal Temirtau facility in Kazakhstan and is commissioning an audit of its safety practices.
Deutsche Telekom raised its earnings outlook for 2023 for the third time this year after it reported a higher quarterly net profit thanks to lower integration costs from the merger of T-Mobile US and Sprint. The German telecommunications company said Thursday it now expects adjusted earnings before interest, taxes, depreciation and amortization after leases for the full year to be about 41.1 billion euros ($44.02 billion) from around EUR41.00 billion previously. The company said the change reflects a strong third-quarter performance. It now expects free cash flow after leases for the year to be more than EUR16.1 billion, up by EUR100 million from its previous guidance. For the third quarter, Deutsche Telekom made a net profit of EUR1.92 billion compared with EUR1.58 billion for the same period last year, a change it attributed to planned reduction in integration costs in the U.S. Revenue for the quarter fell to EUR27.56 billion from EUR28.98 billion. However, revenue rose 0.7% on an organic basis and excluding foreign-exchange fluctuations, driven by a 4.1% increase in service revenue. Adjusted Ebitda after leases came in at EUR10.49 billion, little changed on year. Analysts expected Deutsche Telekom to report adjusted Ebitda after leases of EUR10.37 billion and revenue of EUR27.56 billion, according to consensus estimates provided by the company.
Germany’s Merck KGaA expects earnings and sales for 2023 to be at the lower half of its outlook ranges, after reporting lower third-quarter revenue across all segments. The life-sciences and chemical group said Thursday that it now expects net sales trending slightly below the mid-point of its range of 20.5 billion euros to 21.9 billion euros ($21.96 billion-$23.46 billion). Meanwhile, earnings before interest, taxes, depreciation and amortization excluding one-time items are forecast to come in at the lower half of its EUR5.8 billion to EUR6.4 billion range. For the third quarter, Merck made an aftertax profit of EUR740 million compared with EUR926 million in the same period last year. Net sales for the quarter fell 11% to EUR5.17 billion. The company said negative foreign-exchange movements hurt its performance. Weak pandemic-related demand and inventory reductions hurt the company’s life-sciences segment, while a subdued semiconductor market weighed on its electronics segment, it said. On an organic basis, Merck’s healthcare sales grew 7.4%, but life-sciences and electronics sales fell 13% and 7.9%, respectively. Ebitda excluding one-time items dropped 20% to EUR1.45 billion. Analysts expected Ebitda excluding one-time items of EUR1.39 billion and net sales of EUR5.19 billion, according to consensus estimates provided by the company.
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