- Bank of Ireland (BIRG TH) +2.5%
- Bank Of Ireland 9M Customer Deposits EU91.3B
- Vodafone (VODI TH) +1.9%
- BNP Paribas (BNP TH) +0.1%
- BNP Paribas 3Q Net Income Beats Estimates
- Daimler (DAI TH) -1.1%
- Daimler: Mercedes-Benz Now Sees Slightly Lower Unit Sales y/y
- Nemetschek (NEM TH) -1.3%
- Qiagen (QIA TH) -1.3%
- Inditex (IXD1 TH) -1.3%
- Shell (R6C TH) -1.5%
- Major Shell Holder Rejects Third Point’s Call For Split: FT
- Continental (CON TH) -1.6%
- Glencore (8GC TH) -1.6%
- *GLENCORE SEES FY21 ADJ EBIT TO EXCEED TOP END $2.2-$3.2B RANGE
- Ferrari (2FE TH) -1.6%
- Stellantis (8TI TH) -1.6%
- STMicroelectronics (SGM TH) -1.8%
- Asian Apple Suppliers Decline After Quarterly Revenue Miss
- AB InBev (1NBA TH) -1.9%
- Stock gained 10% yesterday
DAX:
- Deutsche Wohnen (DWNI TH) +0.9%
- Fresenius SE (FRE TH) -0.8%
- DaVita Down After Lowering Top End of Year Profit Forecast (1)
- Deutsche Bank (DBK TH) -0.9%
- Siemens Energy (ENR TH) -0.9%
- Daimler (DAI TH) -1%
- Daimler: Mercedes-Benz Now Sees Slightly Lower Unit Sales y/y
- Deutsche Post (DPW TH) -1%
- Qiagen (QIA TH) -1.3%
MDAX:
- Befesa (BFSA TH) +0.3%
- Varta (VAR1 TH) -0.8%
- Asian Apple Suppliers Decline After Quarterly Revenue Miss
- ProSieben (PSM TH) -0.9%
- Hugo Boss (BOSS TH) -0.9%
- Aixtron (AIXA TH) -1%
- Thyssenkrupp (TKA TH) -1.2%
SDAX:
- Schaeffler (SHA TH) +0.5%
- Sixt (SIX2 TH) -0.9%
- Patrizia (PAT TH) -1.5%
- Salzgitter (SZG TH) -2%
- Salzgitter Guidance Conservative After 3Q Beat, Jefferies Says
- Wacker Neuson (WAC TH) -2.8%
- Wacker Neuson Boosts FY Ebit Margin Forecast
>>> Up
* Argenx ADRs Raised to Strong Buy at Raymond James; PT $390
* Argenx ADRs Raised to Strong Buy at Raymond James; PT $390
* Argenx ADRs Raised to Buy at Guggenheim; PT $330
* Bossard PT Raised to 460 Swiss francs at Berenberg
* Ence Raised to Neutral at Alantra Equities; PT 2.72 euros
* Great Portland Raised to Neutral at Citi
* Kingspan Raised to Outperform at Exane; PT 115 euros
* Scandic Raised to Buy at Handelsbanken; PT 50 kronor
* Scor Raised to Buy at SocGen; PT 32.50 euros
* SwedenCare Raised to Buy at Pareto Securities; PT 170 kronor
* United Utilities Raised to Hold at HSBC; PT 1,090 pence
>>> Down
>>> Down
* Aker BP Cut to Hold at SEB Equities; PT 325 kroner
* Altria Cut to Equal-Weight at Morgan Stanley; PT $47
* Arjo Cut to Hold at Handelsbanken; PT 130 kronor
* Catena Cut to Hold at ABG; PT 570 kronor
* Catena Cut to Hold at ABG; PT 570 kronor
* CNP Assurances Cut to Hold at HSBC; PT 21.90 euros
* EasyJet Cut to Sell at Citi; PT 450 pence
* JM Cut to Hold at Handelsbanken; PT 365 kronor
* J. Martins Cut to Hold at Jefferies; PT 20 euros
* OKEA Cut to Hold at SEB Equities; PT 28 kroner
* QT Group Cut to Reduce at Inderes; PT 160 euros
* Schaltbau Cut to Hold at Stifel; PT 53.50 euros
* SR-Bank Cut to Hold at Arctic Securities; PT 135 kroner
* SRV Group Cut to Reduce at Inderes; PT 55 euro cents
* STMicroelectronics Cut to Neutral at Citi; PT 45 euros
* Telecom Italia Cut to Equal-Weight at Barclays; PT 35 euro cents
* Telenet Cut to Hold at HSBC; PT 35 euros
* XXL Cut to Hold at ABG; PT 17 kroner
>>> Initiation
* M&G Rated New Neutral at Goldman; PT 200 pence
>>> Initiation
* M&G Rated New Neutral at Goldman; PT 200 pence
* Melia Hotels Re-Initiated Underperform at Exane; PT 5.70 euros
>>> Call
>>> Call
* CaixaBank Results “Lacklustre,” Jefferies Expects Shares to Fall
* EasyJet Cut to Sell at Citi on Pricing and Margin Pressures
* Salzgitter Guidance Conservative After 3Q Beat, Jefferies Says
* Salzgitter Guidance Conservative After 3Q Beat, Jefferies Says
* UMG Reiterate Buy PT 27 euros (note attached)
U.S. futures fell Friday and Asian stocks were mixed after disappointing Amazon.com Inc. and Apple Inc. earnings and as traders weighed bond-market gyrations amid concerns over inflation and monetary tightening.
Chinese shares were modestly higher, while Japan fluctuated. Nasdaq 100 contracts underperformed S&P 500 futures. Apple and Amazon fell in extended trading, signaling a more than $200 billion drop in combined market value when the U.S. reopens. That dented upbeat views on company performance that earlier took Wall Street to a record close.
The U.S. dollar ticked up from a one-month low and crude oil fluctuated. In China, the debt crisis at China Evergrande Group remains in focus. Some holders of one of its bonds received an overdue interest payment, buying more time for the troubled property developer.
The latest data showed U.S. growth slowed more than expected in the third quarter, hampered by supply chains and a surge in Covid-19 cases. A separate report showed that weekly jobless claims fell to a pandemic low.
Meanwhile, President Joe Biden called on lawmakers to push ahead with a revised $1.75 trillion tax and spending plan, which has been scaled back from a previous $3.5 trillion proposal. A $550 billion infrastructure bill is also pending.
Elsewhere, the European Central Bank renewed its pledge to conduct emergency bond-buying at a “moderately” slower pace. President Christine Lagarde acknowledged inflationary pressures will last longer than expected. Investors kept alive bets for rate hikes as soon as next year.
In cryptocurrencies, Bitcoin retreated below $58,000 during a sharp swoon in U.S. trading. The largest token rebounded and was around $61,800 in Asian hours. Ether, the second largest, rallied to a record high.
US After Hours Markets are grappling with a number of crosscurrents. Generally positive corporate performance has helped to underpin global equities. But inflation risks from supply-chain snarls and costlier raw materials are boosting expectations for rate hikes and dimming the economic outlook.
“In the very near term, because many global central banks are just dipping their feet into taper, not even into quantitative tightening, the aggregate liquidity could remain very supportive,” Vishnu Varathan, head of economics and strategy at Mizuho Bank Ltd. in Singapore, said on Bloomberg Television. “Although I think you get very much more discriminatory moves and much more selective moves in the equity markets.”
The latest data showed U.S. growth slowed more than expected in the third quarter, hampered by supply chains and a surge in Covid-19 cases. A separate report showed that weekly jobless claims fell to a pandemic low.
Meanwhile, President Joe Biden called on lawmakers to push ahead with a revised $1.75 trillion tax and spending plan, which has been scaled back from a previous $3.5 trillion proposal. A $550 billion infrastructure bill is also pending.
In cryptocurrencies, Bitcoin retreated below $58,000 during a sharp swoon in U.S. trading. The largest token rebounded and was around $61,800 in Asian hours. Ether, the second largest, rallied to a record high.
Nikkei +0.08% Hang Seng -0.41% CSI +0.58% Shanghai +0.36% Shenzen +1.18%
Eur$ 1.1670 CNH 6.3875 CNY 6.3911 JPY 113.59 GBP 1.3788 CHF 0.9123 RUB 70.3280 TRY 9.5324 WTI$ 82.85 +0.05% GOld 1,796.20 -0.15% BTC 60,800 -0.95% ETH 4320 +1.56%
S&P -0.41% Nasdaq -0.76% EuroStoxx -0.39% FTSE -0.27% Dax -0.43% SMI -0.43%
Macro :
Macro :
- France Surprises With 3% Growth After Spending Boom: GDP Update
- U.K. Set to Be First in G-20 to Force Company Climate Reporting
- U.K. Set to Be First in G-20 to Force Company Climate Reporting
- Draghi Cuts Taxes, Raises Pension Age in His First Budget
Keep an eye on :
Keep an eye on :
- AENA SM : Aena 3Q Net Income Beats Estimates
- AF FP : Air France-KLM Sees Full-Year Profit on Transatlantic Revival
- AAPL US : Apple and Amazon Stock Dives Set to Erase $200 Billion in Value
- BBVA SM : *BBVA TO START BUYBACK FOR AS MUCH AS EU3.5B
- BEFB BB : Befimmo 9M Adjusted EPS EU1.79 Vs. EU2.24 Y/y
- BNP FP : BNP Paribas 3Q Net Income Beats Estimates
- BNP FP : *BNP PARIBAS TO START EU900M SHARE BUYBACK PROGRAM ON NOV. 1
- BRNL NA : Brunel FY Ebit Forecast Beats Estimates
- CABK SM : CaixaBank 3Q Net Interest Income Misses Estimates
- CLNX SM : Cellnex 9M Adjusted Ebitda EU1.33B Vs. EU838M Y/y
- CLNX SM : Cellnex to Extend Share Buyback Program to Dec. 31
- COFA FP : Coface 9M Net Income EU190.9M Vs. EU52.4M Y/y
- DAI GY : Daimler Maintains Earnings Target Despite Delivery Outlook Cut
- DAI GY : Daimler: Mercedes-Benz Now Sees Slightly Lower Unit Sales y/y
- DANSKE DC : Danske Bank Lowers 2023 ROE Target to 8.5-9%, Saw 9-10%
- DSM NA : Royal DSM Said to Pick JPMorgan, Centerview for Materials Sales
- ENI IM : Eni Profit Rises More Than Expected on Higher Oil, Gas Prices
- EL FP : EssilorLuxottica 3Q Revenue Beats Estimates
- ENX FP : Euronext’s Borsa Italiana Names Fabrizio Testa CEO
- EUCAR FP : Europcar Sees FY Adjusted Ebitda Above EU150M
- ETL FP : Eutelsat 1Q Revenue Meets Estimates
- EVR LN : Evraz Says No Final Decision on Demerger of Coal Assets
- EXO IM : Agnellis’ Exor Agrees to Sell ParnerRe to Covea for $9 billion
- FER SM : Ferrovial 9M Net Loss EU100M Vs. Loss EU513.0M Y/y
- FPE GY : Fuchs Petrolub Maintains FY Ebit EU350M to EU360M
- GFC FP : Gecina 9M Like-for-like Rental -0.1%
- G IM : Generali Exceeds 50% of Cattolica After 39.5% Shares Tendered
- GILD US : Gilead Boosts FY Adjusted EPS View, Beats Est.: Snapshot
- GN DC : GN Store Nord Cuts FY Growth Outlook for Audio Unit
- GTT FP : GTT 9M Revenue EU240.0M Vs. EU305.6M Y/y
- HDD GY : Heidelberger Druck Names Ludwin Monz CEO as of April 1, 2022
- HOLN SW : Holcim 3Q Sales Beat Estimates
- HSBA LN : HSBC Said to Hire Behary for Its Saudi Investment Banking Team
- INTERCO IPO : Intercos IPO Offer Price Set at EU12.50/Share
- KOG NO : Kongsberg 3Q Ebitda Beats Estimates
- KORI FP : Korian 3Q Revenue EU1.08B Vs. EU961.1M Y/y
- LAM LN : Lamprell Seeks to Raise $30.1 million From New Share Sale
- LIAB SS : Lindab 3Q Operating Profit SEK403M Vs. SEK250.0M Y/y
- LUNE SS : Lundin Energy 3Q Ebitda Beats Estimates
- MEKO SS : Mekonomen 3Q Total Revenue SEK3.01B Vs. SEK2.90B Y/y
- MONC IM : Moncler 3Q Revenue Beats Estimates
- MONC IM : Moncler Sales Beat Points to China Success, Hot Year-End: React
- MONT BB : Montea 9M Adjusted EPS EU2.87 Vs. EU2.66 Y/y
- NVG PL : Navigator Co 9M Net Income EU114.2M Vs. EU75.2M Y/y
- EGL PL : Mota-Engil Wins $164m Construction Contract in Brazil
- OMV AV : OMV Leverage to Drop Further With Oil Field Stake Sale: React
- ORK NO : Orkla 3Q Adjusted Ebit Beats Estimates
- PHM SM : Pharma Mar 9M Ebitda EU53.1M Vs. EU143.4M Y/y
- PROX BB : Proximus 3Q Adjusted Revenue EU1.40B Vs. EU1.37B Y/y
- REC BB : Recticel 3Q Sales EU319.7M
- R.Bosh : Bosch to Invest EU400m in Chip Production, Handelsblatt Reports
- SAF FP : Safran 3Q Adjusted Revenue Meets Estimates
- SGO FP : Saint-Gobain 3Q Sales Meet Estimates
- SZG GY : Salzgitter Prelim 9M Pretax Profit EU604.5M
- SCATC NO : Scatec Awarded Solar Projects of 273 MW in South Africa
- LIGHT NA : Signify 3Q Comparable Sales Miss Estimates
- SNBN SW : SNB Reports 9M Profit of 41.4 Billion Swiss Francs
- SHL GY : Watch MedTech Stocks as Stryker Warns on Procedure Recovery
- SOP FP : Sopra Steria 3Q Organic Revenue +8.9%
- SBUX US : Starbucks Pledges $20 Billion in Payouts as Sales Miss Estimates
- SBUX US : Starbucks Pledges $20 Billion in Payouts as Sales Miss Estimates
- SNH GY : Steinhoff Granted Leave to Appeal the Liquidation Bid Against It
- SREN SW : Swiss Re 9M Net Income $1.26B Vs. Loss $691.0M Y/y
- TKTT FP : Tarkett 3Q Net Sales EU809.4M Vs. EU776.9M Y/y
- TFI FP : TF1 3Q Current Operating Income Misses Estimates
- TOBII SS : Tobii Offers SEK250m Shares via ABG Sundal Collier
- TOKMAN FH : Tokmanni 3Q Comparable Ebit Misses Estimates
- UBI FP : Ubisoft 1H Non-IFRS Operating Profit Misses Estimates
- UCG IM : *FRANCO: ITALY WILL EXPLORE OTHER OPTIONS TO SELL PASCHI
- FR FP : Valeo Sees FY Ebitda Margin at Range High End Despite Lower Rev.
- VLK NA : Van Lanschot Kempen 3Q Total Client Assets EU125.2B
- VIS SM : Viscofan 3Q Ebitda Beats Estimates
- WAC GY : Wacker Neuson Boosts FY Ebit Margin Forecast
- WIZZ LN : Wizz Air Removes Chief Supply Officer on Share Dealing (Oct. 28)
- XVIVO SS : Xvivo Perfusion Offers SEK250m Shares
After Hours Summary: Big names fall on earnings -- WDC -9.7%, AAPL -3.7%, SBUX -3.7%, AMZN -3.3%; ZEN -18.6% down sharply on deal to acquire MNTV; TEAM +9%, X +7.1% higher on earningsAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: ATEN +10.9%, TEAM +9%, X +7.1% (also $300 mln stock repurchase program; increases dividend), AVT +4.4%, SM +4.2%, RILY +3.8%, CWST +3.4%, ACHC +2.8%, VCRA +2.8%, NATI +2.7%, NXGN +2.5% (also authorizes $60 mln stock repurchase plan), RSG +2.4%, BIO +2.1%, AVTR +1.7%, ENVA +1.7%, PTCT +1.5%, EB +1.2%, MSTR +1.1%, SKX +1.1%, FE +1%, AX +0.8%, DECK +0.8%, OPK +0.8%, SKYW +0.8%, ASPN +0.6%, LTH +0.6%, MERC +0.5%, TFII +0.3%, CHE +0.2%, DRQ +0.2%, HIG +0.2%, HTH +0.2%, KMPR +0.2%, TXRH +0.2%, DXCM +0.1%, HUBG +0.1%, MHK +0.1%, OFC +0.1%, RMD +0.1%
Companies trading higher in after hours in reaction to news: XELA +16.6% (partners with CareSource), TWNT +3.1% (to combine with Terran Orbital), CNK +1.8% (to heighten focus on gaming initiatives), RETA +0.7% (submits MAA for bardoxolone methyl to the EMA), BCC +0.5% (increases dividend), ECL +0.5% (to acquire Purolite for $3.7 bln in cash), ATVI +0.2% (acquires mobile game developer Digital Legends)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: ZEN -18.6% (also ZEN to acquire MNTV, including its SurveyMonkey platform), POLY -10%, WDC -9.7%, DVA -7.4%, POWI -6.5%, COHU -5.9%, WERN -5%, FTDR -4.3%, SPNE -4.2%, AAPL -3.7%, SBUX -3.7% (also commits to $20 bln of share repurchases and dividends over next 3 yrs), AMZN -3.3%, MPWR -3.3%, SYK -3.2%, TEX -3.1%, SSNC -2.9%, HVT -2.3%, TVTX -2.2%, ATR -2%, GILD -2% (also GILD and MRK announce clinical trial combination for Trodelvy in combination with KEYTRUDA), LMAT -2%, LTC -1.4%, CVA -1.3%, EMN -1%, AUY -0.5%, CDNA -0.5%, STAG -0.2%, AJG -0.1%, CPT -0.1%, HTGC -0.1%, PEB -0.1%, KRG -0.1%
Companies trading lower in after hours in reaction to news: MNTV -10.7% (ZEN to acquire MNTV; also guides Q3 revs slightly above consensus), LITE -4.1% (in sympathy with Apple earnings), QRVO -2.3% (in sympathy with Apple earnings), STX -2.3% (in sympathy with WDC earnings/guidance), CRUS -2.1% (in sympathy with Apple earnings), SWKS -1.9% (in sympathy with Apple earnings), MU -1.8% (in sympathy with WDC earnings/guidance), ETSY -1.3% (in sympathy with AMZN earnings), LPL -1.2% (in sympathy with Apple earnings), AVGO -1.2% (in sympathy with Apple earnings), FLR -1.1% (signs MOU with Bulgarian Energy for new nuclear power units), ROP -0.5% (files mixed securities shelf offering), MRK -0.2% (GILD and MRK announce clinical trial combination for Trodelvy in combination with KEYTRUDA), A -0.2% (PD-L1 IHC 22C3 pharmDx assay now labelled for use in TNBC in the European Union), LLY -0.1% (announces publication of Phase 3 monarchE study data), NOC -0.1% (receives $300 mln Air Force contract)
Bitcoin Soars Back Above $62k After Big Flash-Crash, Ether Hits $4300
Update (1610ET): Well that escalated quickly...
After puking from $61k to $58, Bitcoin has soared back to the highs of the day above $62,000...
The flash-crash appears to have been an orchestrated stop-run...
And Ethereum has extended its gains, testing up to $4300...
A key resistance level...
The move higher was perhaps helped by MicroStrategy CEO and bitcoin devotee Michael Saylor says the company will continue to evaluate opportunities to raise additional capital to execute its bitcoin strategy.
Is the 2017 analog still in play?
* * *
Update (1440ET): Minutes after Zuckerberg unveils his Metaverse, someone or something just puked crypto sending Bitcoin crashing down from $61,000 to $58,000...
... before bouncing back fast
One crypto trader exclaimed "what the f**k was that?" on the move but after the even bigger fat-finger collapse earlier in the week on Binance, who knows?
Some have suggested it may be BITO-related...
And since BITO is a futures ETF...
Interestingly, while Ethereum did dip, its move is barely noticeable compared to bitcoin...
* * *
After yesterday's plunge in the majors (BTC and ETH), as crypto-traders piled in to Shiba Inu, this morning has seen those trends reverse with both Bitcoin and Ethereum rebounding strongly as Shiba Inu sinks.
Yesterday, ETH tumbled below $4000 as SHIBUSD soared...
Today, ETH is back above $4200...
...as SHIBUSD slides...
While the move is likely helped by the rotation/profit-taking from SHIBUSD's big move, we also note an interesting development.
Due to the continuous burning of ETH coins and fees, some Ethereum blocks become deflationary due to high network load, which then leads to high fees.
According to the burn tracking service, $12 million less Ethereum was issued today than distributed, making the whole day “deflationary.”
As TheDailySats.com reports, this is the first time this has happened since EIP-1559 went live less than 3 months ago.
Additionally, Bitcoin is back above $61,000...
With some analysts suggesting the recent Bitcoin dip mimics October 2017's drop, before it took off to new highs... Astonishingly, the dates of price phenomena in September and October 2021 practically match 2017. Popular Twitter account Smart Crypto, which noticed the trend, called for an “explosion” in time for 2022.
Utilizing Fibonacci sequences, should the rest of the quarter follow the same timeline as four years ago, significantly higher prices are in store for Bitcoin. Being an order of magnitude higher than the 2017 peak, these prices could hit $300,000.