>>> Europe : Brokers Upgrades & Downgrades - 8th of November 2021 V2(+)

>>> Up
* Acerinox Raised to Buy at AlphaValue/Baader
* Alstria Office Raised to Hold at Bankhaus Metzler (+)
* Basic-Fit PT Raised to 55 euros from 44 euros at Morgan Stanley
* Capital & Regional Raised to Hold at Berenberg; PT 70 pence
* Instabank Raised to Buy at Pareto Securities; PT 2.50 kroner
* Lufthansa Raised to Outperform at Bernstein; PT 8.55 euros
* Telia Raised to Hold at HSBC; PT 34 kronor
* Tesla Raised to Buy at Northeast Securities; PT $1,380
* Tesla PT Raised to $1,400 from $950 at Jefferies (+)
* TI Fluid Raised to Overweight at JPMorgan; PT 370 pence
* Varta Raised to Hold at M.M. Warburg; PT 115 euros (+)

>>> Down
* Aker BP Cut to Hold at Arctic Securities; PT 360 kroner (+)
* Canada Goose Cut to Neutral at CIBC; PT C$67
* Clarkson Cut to Neutral at JPMorgan; PT 4,302 pence
* H&M Cut to Sell at Goldman; PT 160 kronor
* Helios Towers Cut to Equal-Weight at Barclays; PT 160 pence
* IAG Cut to Market Perform at Bernstein; PT 180 pence
* Lundin Energy Cut to Hold at Arctic Securities; PT 370 kronor (+)
* Ryanair Cut to Market Perform at Bernstein; PT 18.40 euros
* Swisscom Cut to Hold at HSBC; PT 565 Swiss francs
* Telecom Italia Cut to Reduce at HSBC; PT 28 euro cents
* VW Cut to Underperform at Jefferies; PT 170 euros

>>> Initiation
* Afyren SAS Rated New Buy at Berenberg; PT 12 euros
* Essentra Rated New Outperform at Davy
* Greencoat Renewables Rated New Neutral at Oddo BHF
* ITM Power Rated New Neutral at Redburn
* Kalera Rated New Buy at DNB Markets; PT 31 kroner (+)
* Nel Rated New Buy at Redburn
* Petershill Partners PLC Rated New Overweight at JPMorgan

>>> Call
* Goldman Sachs Sees 4% Upside for S&P 500 by End 2022 After Rally (+)
* Henkel’s Margin Guidance Points to Pressure on 2H, Citi Says (+)
* Attendo Shares Are Worth Buying After Meltdown: Dagens Industri
* Capital & Regional Raised at Berenberg as Balance Sheet Stronger
* Basic-Fit Gets Street-High PT on Expansion Goal: Morgan Stanley
* Equans Purchase Is ‘Big Leap’ Forward for Bouygues: Jefferies (+)
* Financials, Energy Lead Earnings Beats in Europe: Morgan Stanley
* H&M Cut to Sell at Goldman on Cost Inflation Hit to Gross Margin (+)
* JPMorgan Says Overweight U.K. Stocks for First Time Since 2016 (+)

>>> Stoxx 600 Pre-Market Indications

  • THG PLC (HG0 TH) +8.6%
    • THG Founder Wishes He Had Never Listed in London, GQ Reports
  • ABN AMRO (AB2 TH) +2%
  • Repsol (REP TH) +1.8%
  • AB Foods (AFO1 TH) +1.8%
  • Vodafone (VODI TH) +1.7%
  • Siemens Gamesa (GTQ1 TH) +1.7%
    • Siemens Gamesa Sees 2022 Underlying Ebit Margin +1% to +4%
  • Kone (KC4 TH) +1.6%
  • BHP Group PLC (BIL TH) +1.5%
  • Novo Nordisk (NOVC TH) +1.5%
  • Carnival Plc (POH1 TH) -0.8%
  • HSBC (HBC1 TH) -1%
  • Porsche SE (PAH3 TH) -1%
  • Fuchs Petrolub (FPE3 TH) -1%
  • Diageo (GUI TH) -1.3%
  • Renault (RNL TH) -1.5%
  • VW (VOW3 TH) -1.6%
    • *CHINA OCT. IMPORTS RISE 20.6% Y/Y IN DOLLAR TERMS; EST. 26.2%
  • Nokia (NOA3 TH) -1.6%
    • Nokia Can Bounce But Remain Rooted in High Yield: Credit Outlook
  • Henkel (HEN3 TH) -2.2%
    • Henkel Sees FY Adjusted Ebit Margin 13.5%, Saw 13.5% to 14.5%
  • Man Group (M3N TH) -4.2%

>>> TradeGate Pre-Market Indications

DAX:
  • Siemens Energy (ENR TH) +1.5%
    • Siemens Gamesa Sees 2022 Underlying Ebit Margin +1% to +4%
  • Sartorius (SRT3 TH) +1.2%
  • Vonovia (VNA TH) +0.8%
  • Covestro (1COV TH) +0.7%
    • Covestro Boosts FY Ebitda Forecast
  • Airbus (AIR TH) -0.6%
  • Siemens (SIE TH) -0.7%
  • Henkel (HEN3 TH) -1.7%
    • Henkel Sees FY Adjusted Ebit Margin 13.5%, Saw 13.5% to 14.5%
  • VW (VOW3 TH) -1.8%
    • VW Cut to Underperform at Jefferies; PT 170 euros
MDAX:
  • Evotec SE (EVT TH) +1.3%
  • K+S (SDF TH) +1.2%
  • Varta (VAR1 TH) +0.9%
  • Talanx (TLX TH) +0.8%
  • Lufthansa (LHA TH) +0.8%
    • Lufthansa Raised to Outperform at Bernstein; PT 8.55 euros
  • Fuchs Petrolub (FPE3 TH) -1.1%
SDAX:
  • BayWa (BYW6 TH) +3.5%
  • Deutz (DEZ TH) +1.6%
  • Adler Group (ADJ TH) +1.4%
  • Aareal Bank (ARL TH) +1.4%
  • flatexDEGIRO (FTK TH) +1.1%
  • PVA TePla (TPE TH) -0.7%
  • Hochtief (HOT TH) -0.8%
    • Hochtief Reports Arbitration With Negative Impact of EU195m
  • Wacker Neuson (WAC TH) -0.9%
  • Hamborner REIT (HABA TH) -1.1%
  • SGL (SGL TH) -1.8%

WSJ : SoftBank Reports $3.5 Billion Loss, Hit by China’s Tech Crackdown

SoftBank Reports $3.5 Billion Loss, Hit by China’s Tech Crackdown
Beijing’s moves against Alibaba, Didi and others hurt value of Japanese tech investor portfolio.

TOKYO— SoftBank Group Corp. 9984 -0.77% reported its first quarterly net loss in a year and a half after China’s stricter regulations on technology companies caused a sharp stock selloff and weighed on SoftBank’s investment portfolio.

The Japanese conglomerate, best known for its $100 billion Vision Fund and one of the world’s leading funders of Chinese startups, posted a loss of ¥398 billion, equivalent to $3.5 billion, for the quarter ended Sept. 30.

In addition to its China issues, SoftBank said a big factor in the loss was a fall in the share price of South Korean e-commerce giant Coupang Inc., one of the companies in which the Vision Fund has invested.

The results marked SoftBank’s first loss since the January-March quarter of 2020, when it recorded its worst result—nearly a $9 billion full-year loss—amid the pandemic. In the April-June 2021 quarter, the company recorded a net profit of more than $6.7 billion.

In the latest quarter, SoftBank recorded an investment loss at the Vision Fund equivalent to about $10.3 billion. That compared with a $2.5 billion gain in the April-June quarter.

SoftBank’s shares closed Monday down 0.8% at ¥6,161 before the release of the results. Shares have fallen more than 40% since the year’s peak reached in March.

Beijing has been tightening regulations on its largest tech companies this year, weighing on the value of those companies’ shares and indirectly hitting SoftBank as well.

Shares of e-commerce giant Alibaba Group Holding Ltd. , SoftBank Group’s most valuable holding, fell 35% during the July-September quarter. Shares of Chinese ride-hailing leader Didi Global Inc., in which the Vision Fund holds a stake, fell 45%.

On Nov. 1, a privacy law that will curb data collection by technology companies went into effect in China.ch investor’s portfolio

>>> Europe : Brokers Upgrades & Downgrades - 8th of November 2021

>>> Up
* Acerinox Raised to Buy at AlphaValue/Baader
* Basic-Fit PT Raised to 55 euros from 44 euros at Morgan Stanley
* Capital & Regional Raised to Hold at Berenberg; PT 70 pence
* Instabank Raised to Buy at Pareto Securities; PT 2.50 kroner
* Lufthansa Raised to Outperform at Bernstein; PT 8.55 euros
* Telia Raised to Hold at HSBC; PT 34 kronor
* Tesla Raised to Buy at Northeast Securities; PT $1,380
* TI Fluid Raised to Overweight at JPMorgan; PT 370 pence

>>> Down
* Canada Goose Cut to Neutral at CIBC; PT C$67
* Clarkson Cut to Neutral at JPMorgan; PT 4,302 pence
* H&M Cut to Sell at Goldman; PT 160 kronor
* Helios Towers Cut to Equal-Weight at Barclays; PT 160 pence
* IAG Cut to Market Perform at Bernstein; PT 180 pence
* Ryanair Cut to Market Perform at Bernstein; PT 18.40 euros
* Swisscom Cut to Hold at HSBC; PT 565 Swiss francs
* Telecom Italia Cut to Reduce at HSBC; PT 28 euro cents
* VW Cut to Underperform at Jefferies; PT 170 euros

>>> Initiation
* Afyren SAS Rated New Buy at Berenberg; PT 12 euros
* Essentra Rated New Outperform at Davy
* ITM Power Rated New Neutral at Redburn
* Nel Rated New Buy at Redburn
* Petershill Partners PLC Rated New Overweight at JPMorgan

>>> Call
* Attendo Shares Are Worth Buying After Meltdown: Dagens Industri
* Capital & Regional Raised at Berenberg as Balance Sheet Stronger
* Basic-Fit Gets Street-High PT on Expansion Goal: Morgan Stanley
* Financials, Energy Lead Earnings Beats in Europe: Morgan Stanley

>>> What to look at today - 8th of November 2021

Stocks in Asia were steady Monday as investors keep watch on how price pressures impact monetary policy and the pace of economic recovery. Treasury yields rose.
Equities fell in edged lower in Japan, Hong Kong and South Korea. U.S. futures dipped after all major U.S. equity benchmarks climbed to records Friday, with the S&P 500 posting its fifth consecutive weekly rally. That was after a larger-than-forecast and broad-based gain in U.S. payrolls that also showed a jump in average hourly earnings. 
Chinese stocks fluctuated as the Communist Party meets for the first time in more than a year this week. China posted a record monthly trade surplus in October as exports surged, underscoring support for the Chinese economy that’s slowed sharply in recent months.The gathering is expected to lay the ground for extending the term of President Xi Jinping, who has rattled markets with his “common prosperity” campaign to redistribute the nation’s wealth.
Federal Reserve Bank of Kansas City President Esther George said the risk of a prolonged period of elevated inflation has increased and the argument for patience has diminished. U.S. consumer prices on Wednesday are expected to show price pressures running at the hottest pace in three decades amid supply-chain bottlenecks and higher energy, according to Bloomberg Intelligence.  . In the U.S., the House on Friday passed the biggest U.S. infrastructure package in decades.
Elsewhere, oil advanced as traders weighed the odds of a release of crude from the U.S. Strategic Petroleum Reserve after OPEC+ resisted a plea from President Joe Biden to boost supplies more quickly. Bitcoin traded around $65,000. 
TSLA trading down after Twitter vote for Musk to sell 10% stake.

Nikkei - 0,35% Hang seng -0,62% CSI +0,09% Shanghai +0,16% Shenzen +0,38%

Eur$ 1,1562 CNH 6,3957 CNY 6,3975 JPY 113,56 GBP 1,3485 CHF 0,9131 TRY 9,6758 RUB 71,2820 WTI$ 82,83 GOLD 1,820 +1% BTC 65,465 +2589 ETC 4725 +100

S&P -0,19% Nasdaq -0,29% EuroStoxx -0,08% FTSE -0,04% Dax -0,17% SMI

Macro :
- Europe Relapses as Covid Hot Spot in Warning Sign for Recovery
- China Oct. Exports Rise 27.1% Y/y in Dollar Terms; Est. 22.8%
- EU Bank Selloff Signaled as Double Top Forms, Rate Run-Up Stalls

Keep an eye on :
- AKSO NO : Aker Solutions Gets NOK200m-700m Contract From Chevron Australia
- ALC SW : Alcon to Buy Ivantis For $475M in Upfront Consideration
- AAPL US : Apple Hires Tesla’s Autopilot Software Director for Car Effort
- ATT SS : Attendo Shares Are Worth Buying After Meltdown: Dagens Industri
- BSGR NA : B&S Group 9M Revenue EU1.29B Vs. EU1.30B Y/y
- BPE IM : BPER Banca 3Q Net Income Beats Estimates
- BRK/A US : Berkshire Hathaway 3Q Operating Income $6.47B Vs. $5.48B Y/y
- EN FP : Bouygues Agrees to Buy Engie’s Equans for $8.2 Billion
- IAG LN : British Airways Set to Start Short-Haul Airline at Gatwick: Mail
- BYS SW : Bystronic Board Proposes Schweiter’s Baumgartner as Chairman
- COLOB DC : Coloplast Buys Atos Medical for EU2.16B Enterprise Value (1)
- CSGN SW : Credit Suisse Says China Listings Pipeline Building in Hong Kong
- DIC GY : DIC Asset Buys Two Properties for EU139M
- ENGI FP : Bouygues Agrees to Buy Engie’s Equans for $8.2 Billion
- ERA FP : Eramet Restarts Construction Of Argentina Lithium Plant
- CFR SW : Activist Third Point Takes Stake in Richemont, Miss Tweed Says
- FSKRS FH : Fiskars Aims at 5% Organic Sales Growth in New Financial Targets
- SHBA SS : Handelsbanken Says Bank Tax Motives Are ‘Far Fetched’: DI
- HEN3 GY : Henkel Sees FY Adjusted Ebit Margin 13.5%, Saw 13.5% to 14.5%
- HOME SM : *SPAIN'S NEINOR IN EXCLUSIVE TALKS TO BUY VIA CELERE: EXPANSION
- HOT GY : Hochtief Reports Arbitration With Negative Impact of EU195m
- IBS PL : Ibersol Says McGovern Sells Entire 2.95% Stake in Company
- LEHM SW : Lem 1H Ebit CHF42.1M Vs. CHF28.3M Y/y
- MEL SM : Melia Hotels 3Q Net Loss EU15.1M Vs. Loss EU111.1M Y/y
- NOVOB DC : Novo Nordisk Begins DKK3.7B Buyback, Part of Up to DKK20B Progam
- OCI NA : OCI 3Q Adjusted Ebitda $501M Vs. $191.5M Y/y
- PTEC LN : Playtech Confirms Preliminary Approach From Gopher Investments
- PTEC LN : Aristocrat Notes Playtech Got Preliminary Approach
- PNL NA : PostNL 3Q Normalized Ebit Misses Estimates
- QIA GY : Qiagen, Becton Dickinson Settle Patent Suit for $53m
- SAB SM : Sabadell CEO Rules Out Fire Sale of TSB: FT
- SEM PL : Semapa Says CEO Castello Branco Resigns, to Be Replaced by Pires
- SGRE SM : Siemens Gamesa Sees 2022 Underlying Ebit Margin +1% to +4%
- STLA IM : Police Are Investigating Explosion at Stellantis Plant in Canada
- SSIT LN : Space-Based Intelligence Startup Hawkeye 360 Raises $150 Million
- TEF SM : Telefonica Brasil Gets 3 Blocks in Anatel Band Spectrum Auction
- TSLA US : Apple Hires Tesla’s Autopilot Software Director for Car Effort
- VOD LN : +ve Barrons Article