-
Neste (NEF TH) +3.5%
- Morgan Stanley Sees Cloudy Outlook, Raised PT for Neste
- Carnival Plc (POH1 TH) +1.6%
- LVMH (MOH TH) +1.2%
- Vestas (VWS TH) +1.2%
-
Schneider (SND TH) +1%
- Schneider to Remain ‘Big Investor’ in the U.K. Post-Brexit: CEO
- Axa (AXA TH) +0.7%
-
Total (TOTB TH) +0.6%
- PNG Minister Says Jan. 31 Deadline Set for Exxon Gas Deal (1)
- Air Liquide (AIL TH) +0.6%
- E.On (EOAN TH) -0.9%
- Fuchs Petrolub (FPE3 TH) -1%
- Infineon (IFX TH) -1.1%
- Evotec SE (EVT TH) -1.1%
- K+S (SDF TH) -1.2%
- Sartorius (SRT3 TH) -1.6%
- Deutsche Bank (DBK TH) -1.7%
- UBS Misses Key Targets in Challenge to Iqbal Khan Overhaul (1)
- Kion (KGX TH) -2.2%
- German small-caps Wacker Neuson and Heidel Druck issued profit warnings
-
Uniper (UN01 TH) -2.3%
- Uniper Cut to Hold at Berenberg; PT 29 euros
- Dialog Semi (DLG TH) -2.5%
- 2020 Guidance in Spotlight as 2019 Consensus Already Eroded
DAX:
- Allianz (ALV TH) -0.7%
- Infineon (IFX TH) -0.8%
- RWE (RWE TH) -0.8%
- E.On (EOAN TH) -0.9%
- Deutsche Bank (DBK TH) -1.7%
- UBS Misses Key Targets in Challenge to Iqbal Khan Overhaul (1)
MDAX:
- Qiagen (QIA TH) +0.7%
- Hugo Boss (BOSS TH) +0.3%
- CORRECT: Hugo Boss Fourth Quarter Sales Beat Highest Estimate
- Siltronic (WAF TH) -1.3%
- Dialog Semi (DLG TH) -1.8%
- Kion (KGX TH) -2.2%
- Uniper (UN01 TH) -2.6%
- Uniper Cut to Hold at Berenberg; PT 29 euros
- Varta (VAR1 TH) -3.6%
SDAX:
- HelloFresh (HFG TH) +1.7%
- Nordex (NDX1 TH) +1%
- Deutz (DEZ TH) +0.5%
- Borussia Dortmund (BVB TH) +0.3%
- Jenoptik (JEN TH) +0.3%
- Jenoptik Raised to Buy at LBBW; PT 28 euros
- Isra Vision (ISR TH) -0.9%
- DIC Asset (DIC TH) -2.4%
- DIC Asset Offering Prices 6.86m Shares at EU16/Share
- Koenig & Bauer (SKB TH) -4%
- Wacker Neuson (WAC TH) -6.1%
- Wacker Neuson Expects Ebit Margin Below Recent Guidance
- Heidelberger Druck (HDD TH) -10%
- Heidelberger Druck Says Difficult Market Impacts Profitability
>>> Up
* DP Aircraft I Raised to Buy at Jefferies
* Edgeware Raised to Buy at Handelsbanken; PT 8.50 kronor
* Fresenius Medical ADRs Raised to Buy at Jefferies; PT $44.50
* Fresenius Medical Raised to Buy at Jefferies; PT 80 euros
* Glencore Raised to Buy at Goldman; PT 280 pence
* Jenoptik Raised to Buy at LBBW; PT 28 euros
* Krka Raised to Buy at Jefferies; PT 96 euros
* Manolete Partners Raised to Buy at Peel Hunt; PT 550 pence
* RELX Raised to Buy at Citi; PT 2,300 pence
>>> Down
* Atrium Ljungberg Cut to Sell at Handelsbanken; PT 210 kronor
* Enea Cut to Hold at ABG; PT 200 kronor
* EVN Cut to Equal-Weight at Barclays; PT 17.50 euros
* Fevertree Drinks Cut to Neutral at JPMorgan; PT 1,500 pence
* GB Group Cut to Hold at Jefferies; PT 770 pence
* Hufvudstaden Cut to Hold at Handelsbanken; PT 200 kronor
* Ion Beam Cut to Underperform at Jefferies; PT 10.80 euros
* Kungsleden Cut to Hold at Handelsbanken; PT 105 kronor
* Mondi Cut to Neutral at JPMorgan; PT 1,730 pence
* Nokian Renkaat Cut to Hold at Handelsbanken; PT 29 euros
* Platzer Cut to Hold at Handelsbanken; PT 118 kronor
* Spire Healthcare Cut to Underperform at Jefferies; PT 113 pence
* Uniper Cut to Hold at Berenberg; PT 29 euros
* Wihlborgs Cut to Sell at Handelsbanken; PT 156 kronor
>>> Initiation
* Aedifica Rated New Neutral at Oddo BHF; PT 116 euros
* Capgemini Rated New Buy at Berenberg; PT 140 euros
* Cofinimmo Rated New Buy at Oddo BHF; PT 139 euros
* Hermes International Rated New Buy at Oddo BHF; PT 776 euros
* Kering Rated New Buy at Oddo BHF; PT 654 euros
* LVMH Rated New Buy at Oddo BHF; PT 471 euros
* Richemont Rated New Reduce at Oddo BHF; PT 73 Swiss francs
* Swatch Rated New Reduce at Oddo BHF; PT 266 Swiss francs
>>> Call
Stocks and U.S. futures dropped in Asian trading Tuesday, with Hong Kong equities falling more than 2%.
The yen and U.S. Treasuries advanced as a broad risk-off move developed, with gold edging higher. China’s yuan weakened by the most in three months. Market participants attributed the moves to worries over China’s coronavirus, after reports indicating mounting evidence of its contagiousness among humans. Seven straight weekly advances in the MSCI Asia Pacific Index might also have left some investors looking for a short-term exit point from equities.
Nikkei -0.91% Hang Seng -2.48% CSI -1.53% Shanghai -1.23% Shenzen -1.04%
Eur$ 1.1096 CNY 6.8975 CNH 6.8976 JPY 109.96 GBP 1.3012
S&P -0.44% EuroStoxx -0.61% Dax -0.59% SMI -0.48% FTSE -0.55%
Macro :
- U.K. to Ensure No Brexit Cliff-Edge for Carmakers, Minister Says
Keep an eye on :
- 7DIG LN : 7digital Sees Earnings in Line With Expectations
- AF FP : Air France-KLM Among Suitors for Malaysia Air Stake: Reuters
- CMBN SW : Cembra Hits Record as Credit Suisse Raises PT on Growth Outlook
- DKG GY : Deutsche Konsum REIT-AG to Offer Up to 996k Shares via ODDO BHF
- DIC GY : DIC Asset to Offer Up to 6.86m Shrs, DIC Asset Offering Prices 6.86m Shares at EU16/Share
- EZJ LN : EasyJet Sees Earnings in Line With Expectations
- ELE SM : *ENDESA OFFERS EARLY RETIREMENT TO 1,000 WORKERS: CONFIDENCIAL
- FEVR LN : FT: FEVR LN Jefferies says Fevertree may become a target for “big soda”
- GALE SW : Galenica Full Year Sales Beat Highest Estimate
- BOSS GY : Hugo Boss Fourth Quarter Sales Beat Highest Estimate
- IMB LN : Imperial Brands Plans to Close New Zealand Cigarette Plant
- LLOY LN : Lloyds Pledges to Halve Emissions Linked to Its Loan Book: FT
- LOGN SW : Logitech 3Q Adj. Operating Income Beats Est.; Confirms FY Views
- LONN SW : Lonza Full Year Core Ebit Matches Estimates
- MOVE SW : Medacta Full Year Revenue Beats Highest Estimate
- KN FP : Natixis Investment Management CEO Sees Funds Returning to H2O
- NNIT DC : NNIT Sees Revenue Falling By 4% to 8% in 2020
- PHARM NA : Pharming Gets EMA Approval for New Ruconest Production Facility
- ROG SW : Roche Receives Conditional EU Approval for Polivy Combo
- SAVP LN : Savannah Petroleum Considers Nigerian Assets:CNBC Citing Reuters
- SU FP : Schneider to Remain ‘Big Investor’ in the U.K. Post-Brexit: CEO
- SHLTN SW : SHL Telemedicine in Talks Danel, Others on Possible Merger
- SAE GY : Shop Apotheke Prelim Full Year Revenue Meets Estimates
- SOF BB : Sofina FY Net Asset Value Per Share EU227 Vs. EU194.28 Y/y
- SSPG LN : SSP Says Performance is in Line With Expectations
- UBSG SW : UBS to Sell Majority Stake in UBS Fondcenter to Clearstream
- UBSG SW : UBS Cuts Profitability, Cost Goal After Unexpected Money Outflow
Asia Market Update: Concerns about spread of Chinese virus continue to weigh on Asian tourism-related companies, global equity futures decline led by Hang Seng Futures; Asian currencies trade broadly lower as yuan weakens
General Trend:
- Equity markets in Hong Kong and Shanghai underperform amid concerns about coronavirus spread on the upcoming Lunar New Year Holiday
- Gaming firms, airlines, financials and property companies weigh on the Hang Seng; Telecoms drop after gains on Monday
- L’Occitane expected to release Q3 trading statement later today
- Property, Consumer and Financial firms are among the biggest decliners in Shanghai, healthcare index rises over 1%
- Chinese electric vehicle maker BYD declines over 3% after recent gains, Aussie lithium-related companies also trade generally lower; Chinese official commented on NEV subsidies on Monday
- Energy and Resource companies are among the decliners in Australia
- BHP declines less than 1% after quarterly production update and FY guidance, noted energy coal production was impacted by bushfires in Australia
- Japanese equities decline amid the rise in the Yen, sectors moving lower include Marine/Transportation and Iron/Steel
- Tokyo Steel is expected to report its earnings after the market close
- Bank of Japan (BOJ) raised its growth forecasts (as speculated), noted overseas downside risks have decreased somewhat
***Headlines/Economic Data***
Australia/New Zealand
-ASX 200 opened -0.1%
- BHP.AU Reports Q2 Waio iron ore production: 68.0Mt v 66Mt y/y, attributable iron ore production 60.4Mt v 57.8Mt y/y; Affirms all FY20 guidance
- (NZ) New Zealand Dec Performance of Services Index: 51.9 v 52.9 prior (lowest reading since Sept 2012)
- (AU) Australia Treasurer Frydenberg: Will not provide running commentary on budget
Japan
-Nikkei 225 opened 0.0%
- 6104.JP Murakami Fund offers ¥3,456/share in tender offer for 44% stake - Japanese press
- (JP) BANK OF JAPAN (BOJ) LEAVES INTEREST RATE ON EXCESS RESERVES (IOER) UNCHANGED AT -0.10%; AS EXPECTED
- (JP) Bank of Japan (BOJ) Quarterly Outlook for Economic Activity and Prices: Maintains assessment of economy, cuts all CPI outlooks, raises all GDP outlooks
Korea
-Kospi opened -0.1%
- (KR) South Korea Dec PPI Y/Y: 0.7% v -0.1% prior (biggest jump since Dec 2018)
- (KR) South Korea Jan 20-day Exports y/y: -0.2% v -2.0% prior; Imports y/y: +3.0% v -16.7% prior; Chip Exports y/y: +8.7% v -16.7% prior
- 005930.KR South Korea Exchange considering Samsung stock weighting cap in Feb - Korean press
China/Hong Kong
-Hang Seng opened -1.2%; Shanghai Composite opened -0.3%
- (CN) Former PBOC Dep Gov Min Zhu said China is 'well placed' for growth in 2020, reiterates 'very reasonable' for China GDP to grow at 6% per year - financial press update
- (CN) China PBOC sets Yuan Reference Rate: 6.8606 v 6.8664 prior (strongest fix since July 1, 2019)
- (CN) China PBoC Open Market Operation (OMO): Injects CNY100B via 14-day reverse repos v injects CNY250B in 14-day prior; Net injection CNY100B v injects CNY250B prior
- SNP Reports FY19 Crude production 284.22Mboe, -1.5% y/y; Natural gas production 1,047.8bcf, +7.2% y/y
- (HK) Moody's cuts Hong Kong sovereign rating one notch from Aa2 to Aa3; Outlook to stable
- (CN) China 2019 Foreign Direct Investment (FDI) Yuan Terms: CNY941.5B, +5.8% y/y
- (CN) China Ministry of Commerce (MOFCOM): China welcomes high quality competitive US goods; hope US creates favorable conditions for exports; will increase imports from US based on market demand and WTO rules
North America
- (US) President Trump and France President Macron said to have agreed to continue discussions regrading digital tax through the remainder of 2020
Europe
- BA Reportedly in discussions with banks for up to $10B+ in new borrowings – CNBC
- (NO) Norway Finance Min Jensen and her Progress Party to resign from government - financial press
***Levels as of 12:15ET***
- Hang Seng -2.3%; Shanghai Composite -1.2%; Kospi -0.9%; Nikkei225 -0.9%; ASX 200 -0.2%
- Equity Futures: S&P500 -0.4%; Nasdaq100 -0.5%, Dax -0.5%; FTSE100 -0.5%
- EUR 1.1099-1.1088; JPY 110.22-109.90; AUD 0.6881-0.6853; NZD 0.6613-0.6595
- Commodity Futures: Gold +0.4% at $1,566/oz; Crude Oil -0.3% at $58.39/brl; Copper -1.3% at $2.81/lb