SCMP : Coronavirus: 68 per cent of cases confirmed in China in past eight days h

Coronavirus: 68 per cent of cases confirmed in China in past eight days had no symptoms
* Of the 885 infections reported between March 31 and April 7, 601 people showed no visible signs, National Health Commission says
* But scientists say data set is too small to draw any conclusions about how Covid-19 spreads

More than two-thirds of the Covid-19 cases reported in mainland China in the eight days until Tuesday were people who showed no symptoms of the disease, according to new figures released by the National Health Commission (NHC).
While the ratio might appear high, the small data set meant it was too early to make any conclusions, according to Leo Poon Lit-man, head of the public health laboratory sciences division at the University of Hong Kong.
“We don’t know what these figures mean without having the same data [on asymptomatic patients] for the past three months,” he said.
“But what we do know, is that these asymptomatic patients could be pre-symptomatic and infectious despite not displaying symptoms.
“Therefore the virus is still being transmitted inside the country … and these patients should be treated in isolation and put under close observation.”

The NHC only began releasing the number of symptom-free cases last Wednesday, starting with figures for March 31 in a move it said was necessary to “address public concerns”.
Of the 885 cases reported in the eight-day period, 601, or 68 per cent, were asymptomatic, the NHC said. Of the 601, almost half – 279 – were reported in Hubei, the central China province at the heart of the initial coronavirus epidemic when it began at the end of last year.

Since the beginning of the outbreak in China, the total number of confirmed cases – all symptomatic – across the country was 82,000 as of Wednesday, with more than 3,300 deaths.
A total of 199 new cases were reported in mainland China on Tuesday, of which 137 were asymptomatic. Of those, 107 were imported cases, while 59 of the 62 symptomatic cases were also imported.
Poon said that widespread serological testing was necessary to determine the true proportion of asymptomatic patients. These tests look for antibodies in the blood, which usually develop within three to four weeks after infection.

Whether to include asymptomatic cases in official numbers has been a moot point around the world. South Korea counts everyone who tests positive for the virus in its national total, while the United States and Britain include only those who show symptoms of Covid-19.
According to a report published by a team from the World Health Organisation after visiting China at the end of February, the proportion of asymptomatic infections was only about 1 to 3 per cent of cases.
However, Dr Robert Redfield, director of the US Centres for Disease Control and Prevention, said last week that as many as 25 per cent of infected people were asymptomatic.
Similarly, in Hong Kong, of the 936 cases reported as of Tuesday, 155, or more than 16 per cent, were symptom-free, the city’s Centre for Health Protection said.

Benjamin Cowling, head of the epidemiology and biostatistics division at the University of Hong Kong, said the centre’s figures were about what he expected.
“In a large group of say 100 infections, it would be very unlikely to have fewer than 10 or more than 30 asymptomatic cases based on our current understanding of the characteristics of Covid-19 infections,” he said.

A report published on Friday by Chen Shen and Yaneer Bar-Yam from the New England Complex Systems Institute in Massachusetts, said it was important to calculate the proportions of asymptomatic cases within different groups, such as imported cases, those that have had close contact with people in quarantine, and the general public as a whole.
Based on the data available, they said “many of the current reported asymptomatic cases from overseas are pre-symptomatic”.

“[This] makes sense due to the presence of long-term asymptomatic cases that continue to test positive, remaining as a residual from the larger number of cases in China,” the report said.

Professor Yang Jiong, from the pulmonary and critical care medicine division at the Zhongnan Hospital of Wuhan University, warned about the risk posed by “silent carriers” with the lifting of the lockdown on Wuhan.
In an interview with Health Times, a newspaper under the Communist Party mouthpiece People’s Daily, on Monday, he said there were probably between 10,000 and 20,000 asymptomatic cases in the city.
“Although right now it seems that asymptomatic cases have relatively low infectivity, they are contagious after all, and [we] should still be on guard,” he said.

>>> Europe : Brokers Upgrades & Downgrades - 8th of April 2020 V2(+)

>>> Up
* Bankinter Raised to Neutral at Mediobanca SpA
* BAT Raised to Overweight at Morgan Stanley
* Berkeley Raised to Hold at Deutsche Bank; PT 3,966 pence
* Bobst Raised to Hold at MainFirst; PT 46 Swiss francs
* Care Property Invest NV Raised to Buy at KBC Securities (+)
* Crest Nicholson Raised to Hold at Deutsche Bank; PT 202 pence
* CRH Raised to Buy at Oddo BHF; PT 29 euros (+)
* Danone Raised to Buy at HSBC; PT 70 euros
* Dassault Systemes Raised to Add at Baader Helvea; PT 146 euros
* DWS Raised to Outperform at Credit Suisse; PT 26 euros (+)
* EasyJet Cut to Hold at Goodbody (+)
* Eutelsat Raised to Buy at Citi; PT 12.50 euros
* Gjensidige Raised to Hold at Arctic Securities; PT 170 kroner
* Granges Raised to Buy at Carnegie; PT 75 kronor
* IQE Raised to Buy at Deutsche Bank; PT 40 pence
* Konecranes Oyj Raised to Hold at Handelsbanken; PT 19 euros
* LafargeHolcim Raised to Buy at Oddo BHF (+)
* Lagardere Raised to Buy at SocGen; PT 15 euros
* Mediaset Espana Raised to Buy at SocGen; PT 4.70 euros
* Mediolanum Raised to Accumulate at Banca Akros (+)
* Munich Re Raised to Buy From Hold by Jefferies, Target Cut to EUR210 From EUR215 by Jefferies
* National Bank of Greece Raised to Neutral at Mediobanca SpA
* Nordea Raised to Neutral at Mediobanca SpA
* Pearson Raised to Buy at SocGen; PT 620 pence
* Pennon Raised to Neutral at Exane; PT 1,080 pence
* Ringkjobing Landbobank Raised to Hold at ABG; PT 385 kroner
* SAF-Holland SE Raised to Hold at Pareto Securities (+)
* Svenska Handelsbanken Raised to Buy at Deutsche Bank
* UBS Raised to Neutral at Mediobanca SpA
* Unilever Raised to Hold at HSBC; PT 44 euros
* Wacker Neuson Raised to Buy at Bankhaus Metzler; PT 13 euros (+)
* Wienerberger Raised to Outperform at On Field; PT 22 euros

>>> Down
* Accor Cut to Add at AlphaValue
* Air Liquide Cut to Hold at MainFirst; PT 127 euros
* Alcon Cut to Neutral at Baird; PT 56.50 Swiss francs (+)
* Banco BPM Cut to Underperform at Mediobanca SpA
* Banco Santander Cut to Neutral at Mediobanca SpA
* Beiersdorf Cut to Underweight at Morgan Stanley; PT 85 euros
* BCP Cut to Neutral at Mediobanca SpA
* Covestro Cut to Hold at Commerzbank; PT 32 euros (+)
* Danone Cut to Equal-Weight at Morgan Stanley; PT 58 euros
* Elisa Oyj Cut to Neutral at Goldman; PT 62 euros
* HeidelbergCement Cut to Underweight at JPMorgan; PT 43 euros
* HeidelbergCement Cut to Reduce at Oddo BHF; PT 40 euros (+)
* Ingenico Group Cut to Hold at MainFirst; PT 100 euros
* Komax Cut to Sell at MainFirst; PT 103 Swiss francs
* L'Oreal Cut to Underweight at Morgan Stanley
* Nordea Cut to Hold at Deutsche Bank
* Plus500 Cut to Hold at Berenberg; PT 1,033 pence
* RBS Cut to Underperform at Mediobanca SpA
* SocGen Cut to Neutral at Mediobanca SpA
* Spectris Cut to Hold at Stifel; PT 2,500 pence (+)
* Standard Life Aberdeen Cut to Underperform at Credit Suisse (+)
* Travis Perkins Cut to Underweight at JPMorgan; PT 920 pence
* UniCredit Cut to Neutral at Mediobanca SpA
* Unilever Cut to Underweight at Morgan Stanley; PT 41 euros

>>> Initiation


>>> Call
* Assa Abloy 1Q Preliminary Numbers Worse Than Expected: Jefferies
* Asos Profit Estimates to Slump Before Potential Recovery: Citi (+)
* Deutsche Post Faces 2020 Hit From Pandemic of EU500m: Jefferies (+)
* Eutelsat Has ‘Staying Power,’ Cash Generation Sustainable: Citi
* Givaudan to Outperform After ‘Excellent’ 1Q Growth: Mirabaud (+)
* Henkel 1Q Touch Better Than Expected but Pain Ahead: Jefferies (+)
* Munich Re Has ‘Crucial’ Capital Advantage, Jefferies Ups to Buy
* Unilever, Beiersdorf Double Downgraded by Morgan Stanley

Some Hedge Fund Winners and Losers

Some Hedge Fund Winners and Losers


7 Apr 2020 | James James Leave a comment
During the Global Coronavirus outbreak there have been winners and losers, Pierre Andurand is definitely winning – up 153%.
andurand teaser
Pierre Andurand is an oil trader known for making big bets. His Andurand Capital hedge funds were coming off two straight years of losses, but in February Andurand wagered the coronavirus would shake up the oil market and he started to short oil aggressively.

With the price of Brent crude crashing below $23 in March, Andurand’s hedge funds performed incredibly well. His Andurand Commodities Discretionary Enhanced Fund soared by 152.9% in March and returned 122.2% in the first three months for 2020. The Andurand Commodities Fund rose by 63.7% last month and has returned 53.1% in 2020. Andurand Capital’s assets, which were about $1 billion a year ago, are roughly split between the two funds.

Efforts across the globe to deal with COVID-19 have sent the global economy into a tailspin and financial markets along with it. But some hedge funds shined in March, trading around the market volatility as they were designed to do even as many of their traders worked from home. There were, however, hedge funds that struggled mightily as the Standard & Poor’s 500 index plunged in March and finished the first quarter of the year down 19.6%, including dividends.

Boaz Weinstein’s Deutsche Bank proprietary trading operation suffered big losses during the 2008 financial crisis, but in the most challenging market since that time, Weinstein’s $2 billion hedge fund operation did very well. Weinstein’s main Saba hedge fund returned 72% net of fees in the first three months of 2020. Another big winner was Eric Cole, whose Warlander Asset Management hedge fund shorted corporate credits and municipal bonds in March, fueling a 30% first-quarter return.

Some stock-picking hedge fund manages did get hit hard in March. Billionaire Larry Robbins’ flagship Glenview Capital hedge fund fell by –30.47% in the first three months of 2020. Other stock pickers, like billionaire Dan Loeb, saw their funds have losses, but nevertheless have outperformed the stock market. Loeb’s main hedge fund has lost 16% in 2020. On the other hand, billionaire Bill Ackman famously hedged his portfolio against the virus in early March and his Pershing Square Holdings returned 3.3% in the first quarter.

Prominent macro hedge funds, which tend to bet on currencies, interest rates and commodities, seemed to hold their own amid the market upheaval. Billionaire Alan Howard’s main Brevan Howard hedge fund was up 23% in the first quarter of 2020. Andrew Law’s Caxton Global Investment macro hedge fund was up 7.2% for the year as of March 27, 2020, according to an HSBC survey of hedge funds.

But not all macro hedge fund strategies did well amid the coronavirus shock. Robert Gibbins’ Autonomy Capital was down 20% in March. Ray Dalio’s Bridgewater Associates, the biggest hedge fund firm in the world, saw its main hedge fund lose about 16% in March, meaning it returned –23% in the first three months of 2020. “The novel coronavirus is a pandemic that came on fast and hit us at the worst possible moment because we had a long tilt in our positions,” Dalio wrote to his investors in March.

The big multimanager hedge funds seemed to hold their own while markets were being rocked in March, but even for them it was a wild ride. Billionaire Ken Griffin’s main Citadel hedge fund is up about 6% for 2020, according to Bloomberg News. Balyasny Asset Management’s Atlas Enhanced flagship was up 4.75% in the first quarter, while ExodusPoint was up 1.2% for the year. Billionaire Israel Englander’s Millennium Management and billionaire Steve Cohen’s Point72 Asset Management are both about flat for 2020.

Some quantitative traders did experience problems in March. Billionaire Jim Simons’ Renaissance Institutional Equities Fund was down 14.4% in the first quarter of 2020, as well as his Renaissance Institutional Diversified Alpha Fund was down 10.5% over the same period. Both still outperformed the U.S. stock market. The Renaissance Institutional Diversified Global Equities Fund was down 10% in the first quarter. David Harding’s big computer-driven hedge fund lost 12.9% in the first quarter. But even among computer-driven hedge funds there were some standouts. Leda Braga’s Systematica BlueTrend fund, for example, was up 9.4% for the year as of March 27, 2020.

>>> TradeGate Pre-Market Indications

DAX:
  • Munich Re (MUV2 TH) -0.1%
    • Munich Re Has ‘Crucial’ Capital Advantage, Jefferies Ups to Buy
  • HeidelbergCement (HEI TH) -1.3%
    • HeidelbergCement Cut to Underweight at JPMorgan; PT 43 euros
  • Deutsche Bank (DBK TH) -1.4%
    • Warren Joins Senators Seeking Deutsche Bank Details on Trump
  • Covestro (1COV TH) -1.5%
MDAX:
  • Fraport (FRA TH) +2.5%
  • Aroundtown (AT1 TH) +1.8%
  • K+S (SDF TH) +1.8%
  • Uniper (UN01 TH) +1.6%
  • Hella (HLE TH) +1.6%
  • Commerzbank (CBK TH) -1.1%
  • Hugo Boss (BOSS TH) -1.4%
  • ProSieben (PSM TH) -1.7%
  • Airbus (AIR TH) -1.9%
    • Lufthansa to Slash Fleet, Shutter Germanwings in Virus Response
  • Software AG (SOW TH) -2.4%
SDAX:
  • DIC Asset (DIC TH) +4%
  • Hamburger Hafen (HHFA TH) +3.5%
  • Kloeckner (KCO TH) +2.8%
  • Shop Apotheke (SAE TH) +2.4%
    • Shop Apotheke to Sell Bearer Shares Worth Up to EU55m
  • Borussia Dortmund (BVB TH) +1.8%
  • Rhoen Klinikum (RHK TH) -1%
  • Bertrandt (BDT TH) -1.5%
  • Steinhoff (SNH TH) -1.6%
  • LPKF (LPK TH) -2%
  • SAF-Holland SE (SFQ TH) -2.6%

>>> Stoxx 600 Pre-Market Indications

MOVER:
  • Suez (SZ1 TH) +2.6%
  • HelloFresh (HFG TH) +1.7%
  • Heineken (HNK1 TH) +1.2%
    • Heineken Cuts Outlook as Coronavirus Leads to Brewery Shutdowns
  • Fraport (FRA TH) +1%
  • HeidelbergCement (HEI TH) -1.8%
  • Nemetschek (NEM TH) -2%
  • Brenntag (BNR TH) -2.1%
  • Total (TOTB TH) -2.2%
    • Adani Green Energy shares jump 5 pc on Total SA deal
  • Dialog Semi (DLG TH) -2.2%
  • ProSieben (PSM TH) -2.3%
  • Hugo Boss (BOSS TH) -2.9%
    • Asos First Half Revenue 2.6% Above Estimates
  • EssilorLuxottica (ESL TH) -2.9%
  • L’Oreal (LOR TH) -3%
    • L’Oreal Cut to Underweight by Morgan Stanley
  • ArcelorMittal (ARRD TH) -4.1%
    • ArcelorMittal Cut to Junk by Fitch as Steel Demand to Wane

Related tickers:

FT : French markets regulator backs extension of short-selling ban

French markets regulator backs extension of short-selling ban
AMF chairman cites uncertainty around dividends and coming downgrades to credit ratings

The head of France’s markets regulator has said he is inclined to extend the controversial short-selling ban put in place last month to restrain a violent sell-off in equity markets triggered by the coronavirus crisis.

The Autorité des marchés financiers last month ordered a month-long ban on bets against locally listed stocks, joining Italy, Spain and Belgium — and later Austria and Greece — in a crackdown. But other regulators across Europe, notably in the UK and Germany, have not followed suit.

In an interview with the Financial Times, Robert Ophèle, chairman of the AMF, noted that some listed companies have come under political pressure to cancel dividends — which normally knocks share prices — while others are braced for cuts to their credit ratings as balance sheets are strained by the effects of the viral outbreak.

Mr Ophèle defended the ban on short-selling, which runs until April 16, as a way to smooth out volatility in the French market. He said that while “short-selling is clearly needed” under normal circumstances to provide liquidity and help in price discovery, in “the current global bear market its value is low and even negative”.

He said that while the AMF has not seen “any negative effects on liquidity” from the restrictions, he accepted that it is “too early” to fully evaluate the effects.

“If I had to decide right now, I would probably be in favour of extending [the ban],” he said.

Short-selling involves borrowing shares and selling them, aiming to buy them back later at a lower price before returning them to the owner and pocketing the difference. The practice, often used by hedge funds, is controversial as many academic studies have cast doubt on its usefulness. It is also routinely blamed for exacerbating volatility during times of market stress. 

Defenders say banning it simply blocks investors from expressing a valid view on companies’ prospects or from identifying fraudulent practices, as well as hedging positions. 

Mr Ophèle said he had received “hundreds of letters from small investors asking to ban short-sellers”. The mail arrived once the ban was already in place, having been delayed by a postal service disrupted by the outbreak.

Activist investors have criticised the short-selling bans. Carson Block, who runs hedge fund Muddy Waters and had repeated run-ins with the French watchdog over his critique of retailer Casino in 2016, decried the move in an opinion piece for the FT.

“Those advocating for bans on short-selling are driven either by wilful ignorance, or by a desire to further entrench corporate socialism as the overarching principle of our capitalist system,” said Mr Block.

Mr Ophèle admitted that the possibility of misconduct in the market more broadly had now increased, with physical supervision of traders more difficult.

He said roughly 85 per cent of traders in France were now working from their homes but said that from a technological standpoint — in terms of recording trades and sending information to the regulator — there had been no issues so far as most surveillance was carried out by algorithms.

“We are checking all the trades . . . and at the end of the day if they look abnormal we will go after them,” said Mr Ophèle.

>>> Europe : Brokers Upgrades & Downgrades - 8th of April 2020

>>> Up
* Bankinter Raised to Neutral at Mediobanca SpA
* BAT Raised to Overweight at Morgan Stanley
* Berkeley Raised to Hold at Deutsche Bank; PT 3,966 pence
* Bobst Raised to Hold at MainFirst; PT 46 Swiss francs
* Crest Nicholson Raised to Hold at Deutsche Bank; PT 202 pence
* Danone Raised to Buy at HSBC; PT 70 euros
* Dassault Systemes Raised to Add at Baader Helvea; PT 146 euros
* Eutelsat Raised to Buy at Citi; PT 12.50 euros
* Gjensidige Raised to Hold at Arctic Securities; PT 170 kroner
* Granges Raised to Buy at Carnegie; PT 75 kronor
* IQE Raised to Buy at Deutsche Bank; PT 40 pence
* Konecranes Oyj Raised to Hold at Handelsbanken; PT 19 euros
* Lagardere Raised to Buy at SocGen; PT 15 euros
* Mediaset Espana Raised to Buy at SocGen; PT 4.70 euros
* Munich Re Raised to Buy From Hold by Jefferies, Target Cut to EUR210 From EUR215 by Jefferies
* National Bank of Greece Raised to Neutral at Mediobanca SpA
* Nordea Raised to Neutral at Mediobanca SpA
* Pearson Raised to Buy at SocGen; PT 620 pence
* Pennon Raised to Neutral at Exane; PT 1,080 pence
* Ringkjobing Landbobank Raised to Hold at ABG; PT 385 kroner
* Svenska Handelsbanken Raised to Buy at Deutsche Bank
* UBS Raised to Neutral at Mediobanca SpA
* Unilever Raised to Hold at HSBC; PT 44 euros
* Wienerberger Raised to Outperform at On Field; PT 22 euros

>>> Down
* Accor Cut to Add at AlphaValue
* Air Liquide Cut to Hold at MainFirst; PT 127 euros
* Banco BPM Cut to Underperform at Mediobanca SpA
* Banco Santander Cut to Neutral at Mediobanca SpA
* Beiersdorf Cut to Underweight at Morgan Stanley; PT 85 euros
* BCP Cut to Neutral at Mediobanca SpA
* Danone Cut to Equal-Weight at Morgan Stanley; PT 58 euros
* Elisa Oyj Cut to Neutral at Goldman; PT 62 euros
* HeidelbergCement Cut to Underweight at JPMorgan; PT 43 euros
* Ingenico Group Cut to Hold at MainFirst; PT 100 euros
* Komax Cut to Sell at MainFirst; PT 103 Swiss francs
* L'Oreal Cut to Underweight at Morgan Stanley
* Nordea Cut to Hold at Deutsche Bank
* Plus500 Cut to Hold at Berenberg; PT 1,033 pence
* RBS Cut to Underperform at Mediobanca SpA
* SocGen Cut to Neutral at Mediobanca SpA
* Travis Perkins Cut to Underweight at JPMorgan; PT 920 pence
* UniCredit Cut to Neutral at Mediobanca SpA
* Unilever Cut to Underweight at Morgan Stanley; PT 41 euros

>>> Initiation


>>> Call
* Assa Abloy 1Q Preliminary Numbers Worse Than Expected: Jefferies
* Eutelsat Has ‘Staying Power,’ Cash Generation Sustainable: Citi
* Munich Re Has ‘Crucial’ Capital Advantage, Jefferies Ups to Buy
* Unilever, Beiersdorf Double Downgraded by Morgan Stanley

>>> What to look at today - 8th of April 2020

Stocks in Asia extended a rally into a third day on light volumes as investors weighed signs of a slowing rate of coronavirus spread against more fatalities. Oil continued to swing ahead of a key meeting of suppliers.
Japanese shares climbed more than 1%, with shares in Korea and Australia also higher. Hong Kong and China underperformed. S&P 500 futures rose to session highs as of 6 a.m. in London after fluctuating earlier, following a rocky session Tuesday when gains fizzled late in the day. The Australian dollar slipped after S&P Global Ratings cut the country’s credit-rating outlook to negative from stable. Treasuries were steady after this week’s dip.
US After Hours PINS +14%, SGH +6%, LEVI +1% all higher following earnings/guidance, select China names under pressure, TAL -21% IQ -2%

Nikkei +2.34% Hang Seng -0.67% CSI -0.38% Shanghai -0.17% Shenzen -0.15%

Eur$ 1.0873 CNH 7.0741 CNY 7.0662 JPY 108.91 GBP 1.2322 CHF 0.9717 RUB 75.4915 TRY 6.7768 WTI$ 25.15 +6.43%

S&P +1.01% EuroStoxx -0.50% FTSE -0.34% Dax -0.19% SMI +0.

Macro :
- Hedge Funds Fell 6.8% in March, Led by Equity Funds
- Europe Struggles to Agree on a Plan to Stem Virus Recession
- Crude Dives 9% on Worries an Output Cut Won’t Be Big Enough
- Dalio Still Thinks ‘Cash Is Trash’ as Printing Presses Roll
- Germany’s New Coronavirus Infections Rise Most in Three Days
- JAPAN INSIGHT: Record Stimulus to Damp, Not Avert, Recession

Keep an eye on :
- AD NA : Ahold Delhaize's 1Q Covid-19 Bonanza Underpins Dividend: React
- ANIM IM : Anima Ready to Consider Any M&A Opportunities: CEO to Il Sole
- MT NA : ArcelorMittal Cut to Junk by Fitch as Steel Demand to Wane
- ASC LN ; dinary Shares; Size Not Exceeding 18.8%
- ASC LN :Asos Plans to Apply for BOE Covid Corporate Financing Facility
- ASSAB SS : Assa Abloy Prelim First Quarter Ebit Misses Lowest Estimate
- SAB SM : Banco Sabadell Says Top Executives to Waive 2020 Bonuses
- BARC LN : Barclays Top Execs Donate 1/3 of Fixed Pay to Virus Charities
- BA US : Boeing Finds New Software Flaws on Max, Stands By Midyear Return
- BOSN SW : Bossard First Quarter Sales CHF218.9 Mln, -5.7% Y/y
- BRINB SS : Brinova Fastigheter Offering Prices 7.23m Shares at SEK24/Share
- CGG FP : CGG Suspends 2020 Financial Guidance, Sees 1Q Rev. $273m
- CNP FP : CNP Assurances Says Will Be Unable to Meet 2020 Earnings Target
- DAE SW : Datwyler Pulls 2020 Guidance, Introduces State Wage Support
- DMP GY : Dermapharm Names Hilde Neumeyer CFO; Proposes Div. EU0.80/Share
- DPW GY : Deutsche Post Suspends Earnings Guidance for 2020
- DPW GY : *Amazon to Suspend Delivery Service That Competes With UPS, FedEx, Sources Say
- DLG GY : Adesto Investor Sues to Block Sale to Dialog
- DC/ LN : Dixons Carphone Founder Charles Dunstone Reduces Stake to 1.24%
- RF FP : Eurazeo Scraps 2019 Dividend; AGM Maintained For April 30
- GIVN SW : Givaudan First Quarter Sales 1.3% Above Estimates
- HEN3 GY : Henkel Withdraws Forecast for Fiscal 2020
- ING FP : Worldline Says on Target to Close Ingenico Acquisition in 3Q
- LI FP : Klepierre Cuts Jestin, Gault Fixed April-Dec Compensation By 30%
- MMB FP : Amber Pushes For Significant Pay Cuts At Lagardere: Statement
- MONC IM : Moncler CEO Ready to Restart Activities, React to Industry Slump
- MUV2 GY : Munich Re Raised to Buy at Jefferies; PT 210 euros
- OMV AV : OMV 1Q Production Down 6.5% Q/q at 472k BOE/Day; EU80m Write-off
- RNO FP : Nissan Says It’s Preserving Cash With Aim to Rehire U.S. Workers
- RIO LN : Rio Tinto Says Paid $7.6 Billion Taxes, Royalties in 2019
- ROG SW : Genentech Says FDA Extends Review Time for Risdiplam
- STJ LN : St. James’s Place Cuts Pay for Top Executives After Profits Fell
- SAE GY : Shop Apotheke to Sell Bearer Shares Worth Up to EU55m
- SO FP : Somfy Postpones AGM, Reserves Right to Review Dividend Amount
- SWEDA SS : Swedbank Sees 1Q Credit Impairments of SEK2.2b Due to Virus
- TAL U : TAL Education Finds ‘Employee Wrongdoing’ in Internal Auditing -28% After Hours
- TGS NO : TGS Prelim First Quarter Net Revenue About $152 Mln
- TSLA US : Tesla to Cut Pay as Much as 30% While Virus Idles Production
- URW NA : Unibail Senior Executives Lower Pay by 25% in Partial Activity
- VNA GY : Vonovia 1Q Recurring Sales Performance in Line With Expectations
- VOW3 GY : VW Mexico Plant Worker Dies After Later Shutdown Than in U.S.
- WLN FP : Worldline Says on Target to Close Ingenico Acquisition in 3Q