TheChek News Flow

Asian stocks extended declines at the end of a torrid week that dragged the region’s equities deeper into a bear market. Treasuries rose and U.S. equity futures fell after disappointing reports from technology bellwethers.

Japanese shares reversed early gains, on track for a slide of more than 5 percent this week. Equities in Hong Kong and Australia edged lower, while losses were greatest in South Korea. China’s Shanghai Composite fluctuated. A decline in U.S. futures showed any optimism for technology firms from Thursday’s session was quickly dented after Amazon and Alphabet results. The S&P 500 Index had risen for the first time in seven days on earnings from Twitter, Microsoft and Tesla. The offshore yuan extended this week’s slide to trade at the lowest since January 2017.

Nikkei -0.72% Hang Seng -1.12% CSI -1.21% Shanghai -0.72% Shenzen -0.39%

Eur$ 1.1369 CNH 6.9676 CNY 6.9580 JPY 112.15 GBP 1.2817 CHF 0.9999 TRY 5.6320 RUB 65.71 WTI$ 66.58

S&P -0.92% EuroStoxx -1.10% Dax -1.10% FTSE -0.88% SMI -0.60%

Macro :

- German Nov. GfK Consumer Confidence +10.6; Est. +10.5 (Table)

- Fed’s Mester Says U.S. Tax Cuts Not Changing Long-Run Outlook

- Goldman Weighs Bringing Online Retail Bank to Japan, Nikkei Says

- Citi Lifts Treasuries, EM Allocation; Downgrades U.S. High Yield

- Cannabis Industry Faces ‘High Hurdles’, Guggenheim Says

- Watch U.S.-Exposed Drugmakers After Trump Proposes Price Cuts

Keep an eye on :

- AC FP : Accor Buys HQ Building Near Paris for EU363m

- AHSL SS : Ahlsell Third Quarter Net Sales Beat Highest Estimate

- AIR FP : SpaceX Bid for More Satellites Poised for Approval, FCC Says

- ALT FP : Altran 3Q Rev. EU731.1M; Co. Is Confident With Execution Plan

- ATC FP : France’s Regulator Starts Public Consultation on 5G Auction

- AMZN US : Amazon Weak Guidance Masks Structural Headwind: Earnings Outlook --> -6% in after hours

- AMUN FP : Amundi 3Q Net Income Rises 13%; Asset Inflows EU6.1B

- MT NA : Creditors Say ArcelorMittal Successful Bidder for Essar Steel

- AZN LN : AstraZeneca Says Global Trial of Lokelma Confirms Efficacy

- BASF GY : BASF 3Q Adj. Ebit Misses, Sales Beat Estimates (1)

- BMRN US : BioMarin Full Year Revenue Forecast Midpoint Meets Estimates

- EN FP : France’s Regulator Starts Public Consultation on 5G Auction

- BVI FP : Bureau Veritas 3Q Sales EU1.2B

- CABK SM : CaixaBank Third Quarter Net Income Beats Highest Estimate

- CATB SS : Catella Divests Luxembourg Wealth Management Operations to VP

- COV FP : Covivio 9M Rental Income EU772m

- ACA FP : Credit Agricole, JPMorgan Fail to Block Euribor Fine Publication

- DANSKE DC : Danske Bank Drops in Wealth Client Ranking, Finans.dk Reports

- DANSKE DC : Deminor Is Seeking Plaintiffs for Danske Lawsuit, Borsen Says

- DCARB SS : D. Carnegie Third Quarter Rental Income SEK464 Mln

- DMGT LN : Ex-Daily Mail Reporter Fined in French Insider-Trading Case

- DMRE GY : Demire Issues EU150m Capital Increase to Fund Potential M&A

- DIA SM : Letterone Offers DIA Chairman Position to Gimeno: Confidencial

- DSV DC ; DSV Raises FY Adjusted Operating Profit Forecast

- EDP PL : EDP Brasil In Pact For Sale of 8 Mini-Hydro Plants For R$704m

- ENI IM : Eni Third Quarter Adjusted Net Beats Highest Estimate

- FINGB SS : Fingerprint Cards Third Quarter Revenue 1.6% Below Estimates

- FUR NA : Fugro Third Quarter Revenue EU434.7 Mln

- GTO NA : Gemalto Third Quarter Revenue EU727 Mln

- GOOGL US : Alphabet Shares Fall Following Third-Quarter Revenue Miss --> -6.8% in after Hours

- INTC US : Intel Third Quarter Revenue Beats Highest Estimate --> INTC +1.4%

- INTRUM SS : Intrum Third Quarter Net Revenue 1.5% Below Estimates

- KOG NO : Kongsberg Third Quarter Net Income Misses Lowest Estimate

- LHN SW : LafargeHolcim Lowers FY Ebitda Guidance, Raises Sales View, Boosts Full Year Revenue Forecast

- LAND SW : Landis + Gyr Cuts Full Year Revenue Forecast

- LSCC US : Lattice Semi Third Quarter Adjusted EPS Beats Highest Estimate

- LSE LN : LSE to Proceed With Saudi Investment Event: FT City Insider

- MOBN SW : Mobimo Holding Names Daniel Ducrey New CEO From April 2019

- NHY NO : Brazil’s IBAMA Lift Embargo on New Alunorte Bauxite Residue Area

- NOVN SW : Novartis Gets European Approval for Cosentyx Dosing Flexibility

- ORA FP : France’s Regulator Starts Public Consultation on 5G Auction

- UG FP : *GEFCO SHAREHOLDERS ARE MULLING IPO: ECHOS

- PROX BB : Proximus Third Quarter Adjusted Ebitda Meets Estimates

- RRS LN : Randgold Resources Sees Reaching 2018 Production Target

- RNO FP : Renault to Raise Morocco Plants Output to 500k Units in ’22: MAP

- CFR SW : Richemont, Alibaba to Start China Luxury Retail Platform

- RYA LN : Ryanair in Labor Pacts W/ Belgian Unions For Pilots, Cabin Crew

- SAB SM : Sabadell Says Expects No Retroactivity in Spanish Mortgage Tax

- SGO FP : Saint-Gobain 3Q Rev. EU10.3b; Confirms FY Targets

- SGO FP : Saint-Gobain to Unveil New Group Organization on Nov. 26: CFO

- SCHA NO : Schibsted Third Quarter Ebitda 2.7% Above Estimates

- SK FP : SEB Third Quarter Sales 1.3% Above Estimates, Cuts FY Profit Growth Outlook on FX, Retailer Difficulties

- SESG FP : SES Says on Track to Deliver 2018, 2020 Targets

- LIGHT NA : Signify Third Quarter Adjusted Ebita Beats Estimates

- SOP FP : Sopra Steria Third Quarter Revenue EU951.4 Mln

- SPU NO : Spectrum Third Quarter Revenue Beats Highest Estimate

- SAZ GY : Stada Allowed to Raise Vietnam Pymepharco Stake to 72% vs 49%

- STCBV FH : Stockmann Third Quarter Net Sales 1.1% Below Estimates

- SNAP US : Snapchat Lost Users in Quarter, Says Declines Will Continue --> -8.3%

- SSABA SS : SSAB 3Q Adjusted Operating Profit 4.8% Below Est.

- TEL NO : Telenor Finalizes Market Part of 2018-2019 Share Buyback Plan

- TIT IM : Italy Telecom Regulator: Vivendi Not Dominant on Telecom Italia

- URW NA : Unibail-Rodamco-Westfield 9M Rev. EU1.91B

- FR FP : Valeo Third Quarter Revenue Meets Estimates, Cuts FY Target; 3Q Sales EU4.49b vs Est. EU4.54b

- FR FP : Valeo CEO Will Talk About 2019 Guidance in February

- FR FP : Valeo’s 3Q Update ‘Much Worse Than Feared,’ Citi Says

- VWS DC : Vestas to Produce V150-4.2 MW Wind Turbine in State of Ceará

- VIS SM : Viscofan Third Quarter Net Income Misses Lowest Estimate

- VIV FP : Italy Telecom Regulator: Vivendi Not Dominant on Telecom Italia

- VOW3 GY : MAN’s Power Engineering Business Sold to Volkswagen Unit

- VOW3 GY : VW Bets on New SUV to Restart 2nd Shift at Brazil Curitiba Plant

- VOW3 GY : VW Would Participate in Diesel Retrofits in Europe If Needed

- WDP BB : WDP Nine Month Adjusted EPS EU4.55 Vs. EU4.17 Y/Y

- WSU GY : Washtec Revises Full Year Revenue Forecast