>>> Inter Milan could see Jack Ma's Yunfeng Capital take over Thohir's 31% stake

Inter Milan could see Jack Ma's Yunfeng Capital take over Thohir's 31% stake - report (translated)
16 JAN 2019
Yunfeng Capital, a Chinese fund co-founded by Alibaba's owner Jack Ma, could take over a 31% stake held by Indonesian businessman Erick Thohir in Italian soccer club Inter Milan, Calcio e Finanza reported.
The item, citing reports by Il Corriere dello Sport and Tuttosport, said that the potential investor is associated with Suning, the current majority shareholder of the club. Suning holds a 0.81% stake in Alibaba, which in turn owns 20% of Suning Commerce, it said.
Yunfeng Capital is based in Hong Kong and its another co-founder is David Yu, as reported.
A related item in Corriere dello Sport online said indicated that a Hong Kong fund that will support Suning will take over Thohir's stake without citing its name.
Link to original source (Calcio e Finanza) in Italian
Link to original source (Corriere) in Italian

>>> Laboratoires Filorga appoints Goldman Sachs to sell consumers products busin

Laboratoires Filorga appoints Goldman Sachs to sell consumers products business - report (translated)
16 JAN 2019
Laboratoires Filorga, a French anti-ageing cosmetic products maker, is said to have appointed Goldman Sachs to seek buyers for its consumers products activities, news portal Capital Finance reported citing unidentified sources.
The report cited the sources as claiming that these activities, concerning products sold in pharmacies, drugstores and supermarkets, could be valued at as much as EUR 1bn. It has drawn interest from undisclosed French, European and Chinese cosmetic companies.
The piece said that Laboratoires Filorga does not intend to sell its B-to-B business, whose products are sold to aesthetic doctors and dermatologists.
Laboratoires Filorga has been owned by private equity firm HLD and president Didier Tabary since 2010.

FT : Michel Barnier insists rejected Brexit deal is still ‘best compromise’

Michel Barnier insists rejected Brexit deal is still ‘best compromise’
EU’s chief Brexit negotiator says UK must be ‘clear’ in ‘how we are to take things’

Michel Barnier has urged the UK to “very clearly” say what it wants from its future relations with the EU but insisted that the negotiated exit deal remains the “best compromise” Brussels can offer the UK.

Speaking publicly for the first time after MPs inflicted a historic defeat on Theresa May’s Brexit deal, the EU’s chief negotiator said the rejection gave no indication of what the UK wants or how now negotiations can proceed from here.

“This vote is not a clear manifestation of a positive majority which would define an alternative project,” Mr Barnier told MEPs in Strasbourg on Wednesday. “It is up to [the] British government to assess the outcome and indicate how we are to take things”.

Mr Barnier warned that there could be no changes to a legally binding arrangements to set up a northern Irish “backstop” designed to prevent a hard border in Ireland and which is loathed by Brexiter MPs as a “trap” to keep the UK aligned by EU customs rules.

“The backstop must remain a backstop — it must remain a credible backstop” he said.

With just 10 weeks before a planned exit date, Mr Barnier said Brussels would remain “lucid and clear” in ensuring there will not be a no-deal Brexit. He added that Brussels was open to having a closer future relationship with the UK than just a free trade agreement that has been prime minister May’s preference.

He added:

If the UK chooses to shift its red lines in the future, and if it makes the choice to be more ambitious, to go beyond the free trade agreement then the EU will be immediately ready to go hand in hand with that development and give a favourable response”

It is up to UK to explain. and how it wants to build up an ambitious and sustainable relationship.

We cannot exclude any scenario and this is particularly true of the no deal scenario. We are fearing more than ever the risk of a no deal.

Guy Verhofstadt, the European Parliament’s Brexit chief, urged all Mrs May’s opponents — including Brexit supporters, the Labour party, and the Northern Irish DUP — to “come out of their trenches” to find a cross party consensus for a new way forward on Brexit.

Roberto Gaultieri, an Italian centre-left MEP whose group is allied with Labour, said the meaningful vote could open the way for a second referendum. “Maybe it is the right time for the people to have their say with new elections or a new referendum”, he said.

>>> What to look at today - 16th of January 2019

Asian equities were mixed on Wednesday, following a rally to a six-week high, as investors assessed prospects for global policy makers to arrest a slowdown in growth.
The pound and U.K. stock futures fluctuated, paring losses, in advance of a no-confidence vote in British Prime Minister Theresa May following the crushing defeat of her Brexit deal. Japanese equities led losses in Asia, with mixed performances among other benchmarks. U.S. futures gained after the S&P 500 Index climbed the most in a week Tuesday following China’s plans for boosting spending through tax cuts. The 10-year Treasury yield held at 2.71 percent, while oil traded around $52 a barrel in New York.
US After Hours EFII -19%, FULT -7%, JWN -3% lower following earnings/guidance, UAL +6% and lifting airline sector following earnings

Nikkei -0.55% Hang Seng +0.12% CSI +0.02% Shanghai +0.00% Shenzen -0.12%

Eur$1.1406 CNH 6.7672 CNY 6.7628 GBP 1.2861 JPY 108.54 CHF 0.9886 RUB 66.8148 TRY 5.4085 WTI$ 52.20 +0.15%

S&P +0.39% EuroStoxx +0.52% FTSE +0.17% Dax +0.47% SMI +0.30%

Macro :
- Goldman Says U.S. Stock Drop to Hit Growth as Rich Curb Spending
- May to Start Cross-Party Talks After Brexit Blowout: TOPLive
- Draghi Says No Recession Ahead for Euro Area Despite Weakness
- EU28 December Car Registrations Drop 8.4% Y/y to 0.999m Units
- The Bull Market in Equities Is Coming Back, Allen Sinai Says

Keep an eye on :
- ADP FP : Paris Airports Has 1 Month to Submit New Charges Proposal to ISA
- ADP FP : Paris Airports Dec. Passenger Traffic Rises 3.2%: ADP
- AF FP : Air France Could Take Alitalia Stake Along With Delta: Stampa
- ALO FP : Siemens-Alstom Still on Brink as EU Officials Flag China Threat
- ATEB BB : Atenor Acquires First Real Estate Site in Flanders Region
- CS FP : AXA Cheap and XL Concerns Priced In, MS Resumes at Overweight
- BAYN GY : French Ban of Monsanto Roundup Pro 360 Immediate: Anses
- BBVA SM : BBVA Redeems EU1.5b of Preferred Contingent Convertibles
- BNP FP : BNP Said to Lose $80 Million on S&P 500-Linked Derivative Trades
- COK GY : Cancom May Outgrow Sector, Is Possible Takeover Candidate: Lampe
- CBK GY : Regulators Looking Commerzbank, Deutsche Bank Merger Issues: HB
- DBK GY : Deutsche Bank Has Launched New Danske Investigation, CEO Says
- DPLM LN : Diploma First Quarter Revenue +9%
- DKSH DC : DKSH Signs Distribution Pact With Novo Nordisk Pharmatech
- DSV DC : DSV Shares May Be Pressured After Panalpina Bid, Nordnet Says
- H24 GY : Home24 Cuts 4Q Revenue Guidance
- MDW FP : Mediawan to Buy Majority Stake in Italian TV Producer Palomar
- MUv2 GY : Munich Re Released Reserves From Real Estate Portfolio: Platow
- NHY NO : Norsk Hydro Says Agency Lifts Alunorte’s Production Embargo
- PWTN SW : Panalpina Receives DSV Proposal to Acquire Company at CHF170/Shr
- PRS NO : Prosafe 4Q Fleet Utilization Rises to 63% From 48% in 3Q
- REE SM : Red Electrica Lacks Room for Negative Surprise: Morgan Stanley
- RNO FP : Renault Board May Meet As Soon As Weekend on Governance: Echos
- RNO FP : French Fin Min Spokesman Confirms Planned Trip to Japan
- STB NO : Storebrand Says Rule Change Leads to 4Q Tax Income About NOK1.6b
- ALTER FP : Theradiag’s Cosentyx Monitoring Kit Gets CE Mark
- TLW LN : Tullow Oil Plans First of Three Guyana Wells for 2019 in 2Q
- VLA FP : Valneva Sees 2019 Total Rev. in Range of EU125M-EU135M
- RIN FP : Vilmorin to Give Holders 1 Free Share for 10 Held
- VOW3 GY : Ford, VW News Disappointing Vs Expectations, Morgan Stanley Says

>>> Europe : Brokers Upgrades & Downgrades - 16th of January 201

>>> Up
* Bank of Ireland Upgraded to Hold at Berenberg
* Cancom Upgraded to Buy at Bankhaus Lampe
* Carlsberg Upgraded to Buy at Jefferies
* Heineken Upgraded to Buy at Jefferies
* Laurent-Perrier Upgraded to Buy at Oddo BHF; PT 106 Euros
* Petrofac Upgraded to Overweight at Morgan Stanley; PT 8 Pounds

>>> Down
* AB InBev Downgraded to Underperform at Jefferies
* Ashmore Downgraded to Hold at Berenberg
* Cofinimmo Downgraded to Hold at SocGen; PT 120 Euros
* Groupe Crit Downgraded to Neutral at Oddo BHF; PT 61 Euros
* Haulotte Downgraded to Neutral at Oddo BHF; PT 10 Euros
* Hunting Raised to Equal-weight at Morgan Stanley; PT 7.30 Pounds
* Kone Downgraded to Underperform at RBC; PT 47 Euros
* Red Electrica Cut to Underweight at Morgan Stanley
* Restaurant Group Downgraded to Sell at Citi; PT 1.20 Pounds
* Rio Tinto Downgraded to Outperform at CLSA
* SBM Offshore Cut to Underweight at Morgan Stanley; PT 17 Euros
* Schindler Cut to Sector Perform at RBC; Price Target 230 Francs
* SGL Upgraded to Buy at Baader Helvea; PT 9 Euros
* Synergie Downgraded to Neutral at Oddo BHF; PT 31 Euros
* Zooplus Downgraded to Hold at Baader Helvea; PT 140 Euros

>>> Initiation
* Altice USA Rated New Buy at Nomura Instinet; PT $25
* Axa Resumed at Morgan Stanley With Overweight; PT 25.20 Euros
* Chi-Med ADRs Rated New Buy at Panmure Gordon; PT $32.80
* Cyan Rated New Buy at Bankhaus Lampe; PT 47 Euros
* Legrand Reinstated at RBC With Underperform; PT 53 Euros
* Royal Unibrew Rated New Underperform at Jefferies
* Schneider Reinstated at RBC With Outperform; PT 75 Euros
* Siemens Reinstated at RBC With Sector Perform; PT 109 Euros


>>> Call

>>> US After Hours Summary: EFII -19%, FULT -7%, JWN -3% lower followi


After Hours Summary: EFII -19%, FULT -7%, JWN -3% lower following earnings/guidance, UAL +6% and lifting airline sector following earnings

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings/guidance: UAL +5.8%

Companies trading higher in after hours in reaction to news: MERC +10.4% (to join S&P SmallCap 600), SSRM +4.6% (produced over 88,000 gold equivalent ounces in Q4), TYME +4.2% / VHC +2.1% (continued strength), ALSK +2.7% (refinances credit agreements), TLRY +1.9% (modestly rebounding), UNIT +1.5% (to sell Uniti Fiber's Midwest operations - will retain its existing Midwest fiber network), PBR +1.1% (reported 2018 production)

Airlines lifting on UAL results: JETS +4%, AAL +2.4%, SAVE +2%, JBLU +1.6%, LUV +1.4%, DAL +1%

After Hours Losers:

Companies trading lower in after hours in reaction to earnings/guidance: EFII -19.1%, HAFC -8.5% (light volume), SNAP -8.3% (CFO Tim Stone to resign to pursue other opportunities; expects to report Q4 revenue/adj EBITDA results that are slightly favorable to the top end of previously reported quarterly guidance ranges), FULT -6.7%, JWN -2.7% (reports holiday comps +1.3%; EPS is expected to be around the low end of the Company's prior outlook range), FSK -1.7% (light volume)

Companies trading lower in after hours in reaction to news: PCG -7.8% (continued weakness; Teleflex to replace PG&E in S&P 500), RVNC -4.4% (proposes $100 mln common stock offering), TFX -1.1% (to replace PG&E in S&P 500)