DAX:
- Wirecard (WDI TH) +2.3%
- Wirecard Increases 2025 Revenue, Ebitda Targets
- Infineon (IFX TH) +1.1%
- Watch Chip Stocks After Samsung’s Strong Quarterly Profit Beat
- EON (EOAN TH) +1%
- EON Rated New Hold at Deutsche Bank; PT 9.20 Euros
- Daimler (DAI TH) +0.7%
- Continental AG (CON TH) -0.7%
- Continental AG Cut to Underweight at Barclays; PT 115 Euros
MDAX:
- Commerzbank (CBK TH) +1.2%
- Evotec SE (EVT TH) +0.7%
- Lanxess (LXS TH) -0.6%
- Lanxess Downgraded to Neutral at Goldman; PT 61 Euros
- Evonik (EVK TH) -1.1%
- Uniper (UN01 TH) -3.7%
- Fortum Agrees to Acquire Majority in Uniper
- Qiagen (QIA TH) -13%
- Qiagen Falls After Reporting Preliminary Earnings, CEO Exit
- Qiagen’s Miss, CEO Exit Don’t ‘Paint a Good Picture’: Evercore
SDAX:
- Nordex (NDX1 TH) +6.5%
- *NORDEX ISSUES SHARES TO ACCIONA, TRIGGERING TAKEOVER OFFER
- Encavis (CAP TH) +1.7%
- Kloeckner (KCO TH) +1.6%
- Salzgitter (SZG TH) +0.9%
- Wirecard (WDI TH) +2.4%
- Wirecard Increases 2025 Revenue, Ebitda Targets
- Infineon (IFX TH) +1%
- Watch Chip Stocks After Samsung’s Strong Quarterly Profit Beat
- EON (EOAN TH) +0.8%
- EON Rated New Hold at Deutsche Bank; PT 9.20 Euros
- Airbus (AIR TH) +0.7%
- Airbus Logged Orders for 41 Jetliners in September
- Rio Tinto (RIO1 TH) +0.7%
- Rio Tinto Upgraded to Buy at Renaissance Capital; PT 46 Pounds
- Continental AG (CON TH) -0.7%
- Continental AG Cut to Underweight at Barclays; PT 115 Euros
- HeidelbergCement (HEI TH) -0.8%
- Taylor Wimpey (TWW TH) -1.1%
- Lanxess (LXS TH) -1.2%
- Evonik (EVK TH) -1.5%
- Uniper (UN01 TH) -3.3%
- Fortum Agrees to Acquire Majority in Uniper
- Qiagen (QIA TH) -12%
- Qiagen Gets First Sell on 3Q Miss, CEO Exit; Stock Slumps
Asian equities stage a surprise rally despite Monday’s Wall Street weakness and the worst Caixin services PMI since February. Nikkei index adds 1%, Hang Seng 0.7% firmer while Kospi gains 0.8% following Samsung earnings beat. CSI 300 index 1.1% higher; onshore yuan 0.3% stronger after solid PBOC fixing. Nasdaq futures gain 0.5%, Treasuries better offered with 10-year yield up 3bps near 1.59%. JGB futures slide after U.S. and Japan sign a trade deal and household consumption data matches estimates. Bloomberg dollar index marginally softer; kiwi outperforms G-10 peers with 0.4% gain. WTI crude climbs near $53.10; Dalian iron ore 1.2% stronger
US After Hours QGEN -8% / HA +5.5% following guidance
Nikkei +0.99% Hnag Seng +0.67% CSI +0.87% Shanghai +0.51% Shenzen +0.36%
Eur$ 1.0984 JPY 107.38
S&P +0.33% EuroStoxx +0.29% Dax +0.38% SMI +0.03%
Macro :
- WeWork in Talks With SoftBank on New $1b Financing: Reuters
- China Confirms Liu He, PBOC’s Yi to Attend Trade Talks in U.S.
Keep an eye on :
- AIR FP : Airbus Logged Orders for 41 Jetliners in September
- AF FP : Air France-KLM Sept. Group Passenger Traffic Rises 3.1%
- ARYN SW : Aryzta Full Year Revenue Meets Estimates
- ANA SM : Nordex SE launches capital increase via private placement to its anchor shareholder Acciona S.A.
- AUTN SW : Autoneum Names New CEO; Warns 2H Results Won’t Improve --> -4.5% pre-mkt
- BO DC : Bang & Olufsen Names Kristian Tear CEO, Replacing Henrik Clausen
- CLNX SM : *CELLNEX TO BUY ARQIVA TELECOMS DIVISION FOR GBP2B CONSIDERATION
- EZJ LN : Ferrexpo Sees FY Output 10.4-10.6MT vs 10.6MT Earlier Guidance
- ERICB SS : US Eyes Support to Nokia, Ericsson to Compete With Huawei:FT(1)
- FXPO LN : Ferrexpo Sees FY Output 10.4-10.6MT vs 10.6MT Earlier Guidance
- GALP PL : Galp 3Q Net Entitlement Output Rises 21% Y/y to 124 Kboepd (1)
- GFC FP : Gecina’s French Office Tailwinds to Continue: Morgan Stanley
- BOWL LN : Hollywood Bowl Sees Earnings Slightly Ahead of Market Views
- JOG LN : Jersey Oil Says Equinor Won’t Exercise Option Over Buchan Stake
- LSE LN : HKEX Drops $36.4 Billion Bid for the London Stock Exchange (2)
- METSB FH : Metsa Board 3Q Adj. Oper Profit EU42M, Est. EU33.6M
- NOKIA FH : US Eyes Support to Nokia, Ericsson to Compete With Huawei:FT
- NDX1 GY : Nordex Issues Shares to Acciona, Triggering Takeover Offer
- OSR GY : Osram’s MDAX Weight to Drop Due to Lower Free Float: Dt. Boerse
- OSR GY : Bain, Carlyle Bid for Osram Has Lapsed, Period Ended October 1
- MRW LN : Safeway Pension Fund Loses EU Court Case Over Retirement Age (1)
- STCK LN : Stock Spirits Says Performance is in Line With Expectations
- STM FP : Watch Chip Stocks After Samsung’s Strong Quarterly Profit Beat
- THULE SS : Thule Potential Clouded by Tariff Headwinds: Handelsbanken
- UN01 GY : Fortum Agrees to Acquire Majority in Uniper
- WDI GY : Wirecard Increases 2025 Revenue, Ebitda Targets (1)
After Hours Summary: QGEN -8% / HA +5.5% following guidanceAfter Hours Gainers:
Companies trading higher in after hours in reaction to guidance: HA +5.5% (reports Sept traffic +3% yr/yr on an increase of 0.7% in capacity; raises Q3 estimates for operating revenue per ASM)
Companies trading higher in after hours in reaction to news: CE +2.8% (indicated higher on reports that the company may consider a breakup), NAT +2.3% (upgraded to Buy at BTIG), SDC +1.9% (rebounding from today's 8% pullback; co commented after the bell on analyst initiations), TGT +0.5% (initiated with a Strong Buy at Raymond James; tgt $130), MSFT +0.5% (coverage upgraded to Buy at Jefferies)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: DZSI -16.8%, QGEN -8.1% (reaffirms Q3 EPS, sees revenue below guidance; also announces CEO transition; CEO Peer Schatz to depart to pursue new opportunities)
Companies trading lower in after hours in reaction to news: AMBA -11.9% (following Reuters report that the Department of Commerce will blacklist its customer Hikvision), CVM -3.5% (attributed to cautious Stat News report from Adam Feuerstein), AQN -3.3% (commences underwritten marketed public offering of 21,520,804 common shares), JAZZ -1.3% (CFO Matthew Young to resign effective as of October 25 to pursue a leadership opportunity with a privately-held healthcare company), BEN -1% (initiated with Underperform at BMO Capital Markets), ORCL -0.9% (downgraded to Hold from Buy at Jefferies), AAL -0.9% (still checking)
>>> Up
* Demire Real Estate Raised to Buy at Pareto Securities
* Polymetal Raised to Buy at Renaissance Capital; PT 13.10 Pounds
* Red Electrica Upgraded to Hold at Deutsche Bank
* REN Upgraded to Sector Perform at RBC; PT 2.60 Euros
* Rio Tinto Upgraded to Buy at Renaissance Capital; PT 46 Pounds
* St James's Place Raised to Buy at Deutsche Bank; PT 11.90 Pounds
* SSP Upgraded to Buy at HSBC; PT 7.50 Pounds
* Thales Upgraded to Buy at SocGen; PT 120 Euros
* Valeo Upgraded to Overweight at Barclays; PT 35 Euros
>>> Down
* Continental AG Cut to Underweight at Barclays; PT 115 Euros
* CRH Downgraded to Neutral at Oddo BHF; PT 31 Euros
* HeidelbergCement Downgraded to Neutral at Oddo BHF; PT 65 Euros
* Michelin Downgraded to Equal-weight at Barclays; PT 115 Euros
* President Downgraded to Hold at Panmure Gordon; PT 4 Pence
* Qiagen Downgraded to Underweight at JPMorgan; PT $25
* SCA Downgraded to Hold at Pareto Securities; PT 91 Kronor
* Uniper Downgraded to Hold at Deutsche Bank
* Vicat Downgraded to Neutral at Oddo BHF; PT 44 Euros
>>> Initiation
* Adevinta Rated New Sell at Berenberg; PT 95 Kroner
* DiscoverIE Rated New Buy at Jefferies; PT 5 Pounds
* EON Rated New Hold at Deutsche Bank; PT 9.20 Euros
* Geberit Rated New Reduce at Oddo BHF; PT 431 Francs
* Gestamp Rated New Underweight at Barclays; PT 3.50 Euros
* Mapfre Rated New Equal-weight at Morgan Stanley; PT 2.50 Euros
* Marzocchi Pompe Rated New Outperform at EnVent S.p.A.
* Orell Fuessli Rated New Buy at Research Partners; PT 135 Francs
* Thule Rated New Hold at Handelsbanken; PT 195 Kronor
>>> Call
* Adevinta Consensus Is Too Optimistic, New Sell at Berenberg
* EON’s Earnings Accretion Potential Not Fully Appreciated: RBC
* Gecina’s French Office Tailwinds to Continue: Morgan Stanley
* Kuehne + Nagel Favored Over DSV on Relative Valuation: JPMorgan