CS
AMS -1% Apple revising orders for iPhone 8/8 Plus lower
Ashtead +1% Positive read from peer United Rentals, better Q3
Beiersdorf +1-2% CS UPGRADE to OUTPERFORM (positive skincare)
Carrefour -1-2% 3Q, France weaker, sales inline, LFL's weaker
Com Hem -1-2% CS DOWNGRADE to NEUTRAL (Risks to TV)
Danone +0.5% Names Emmanuel Faber as Chairman and CEO
Dialog Semi -1% Apple revising orders for iPhone 8/8 Plus lower
Gam +1-2% AuM at Inv Management looks good CHF78.7bn vs cons
CHF74bn
HSBC UNCH UK urged to probe banbks over possible Gupta links
Inficon -2-3% Sales $89.4m vs cons $90.6m, FY sales raised but cons
there
IWG -15-20% Profit warning - lowers guidance
L'Oreal -1-2% CS DOWNGRADE to NEUTRAL (Valuation)
LSE -1-2% Gross profit 1% ahead, CEO to leave
Mediaset Esp -1-2% 9m EBITDA +3% ahead of cons, Q4 guidance light
Miners -0.5% Copper -0.30%, Brent +0.55%, Iron Ore -0.90%, China
-0.50%
Nestle +0.5% 9m organic sales growth 2.6% vs 2.5%
Novo Nord M/P Diabetes drug Semaglutide wins positive 16-0 vote from
FDA
Panalpina -1% 3Q Ebit 30.1mln cons 31.9mln, guidance cautious
Pernod +2% 5.7% organic vs 3.4% cons, US 6.2% vs 5%, Asia 7% vs 3%
Philips Light -2% Revs 1.68bln cons 1.73bln, EBITA 176mln cons 180mln
Publicis -2% Q3 Rev EU 2.26bln est EU 2.29bln, org growth light
Rentokil -1% Organic growth +3.7%, reiterate FY guidance
Roche M/P Q3 Sales CHF 13.1bln est CHF 13.1bln. Outlook confirmed
Richemont M/P Swiss watch exports, low end weak, high end strong
SAP -1-2% Margins light, slight raise 2017 Sales outlook
Schroders M/P AUM 419.6bln CS at 413.6bln, Wealth inline
South32 -3% Q1 production report, warned on cost pressures
Stan Char UNCH UK urged to probe banbks over possible Gupta links
Swatch -0.5-1% Swiss watch exports, low end weak, high end strong
Tele2 +2-3% 3Q EBITDA SEK1.85B est SEK1.70B, Netherlands better
Telia -0.5% Q3 Rev SEK 19.6b est SEK 19.63b, small miss in sweden
Temenos +1-2% Non-IFRS revs $186.6m vs cons $179.8m, FY guidance
raised
Thales -1-2% 3Q sales and new orders light
Travis Perk +0.5% Reiterated FY guidance, cautious on the UK
Unilever -3% 3Q underlying sales up 2.6% est up 4%
Yara M/P Q3 revs 2.5% above estimates
Zooplus M/P 3Q Sales 277mln cons 280mln, outlook inline
Zurich +1% Net claims from hurricanes will be about $630m
Shore
SCHRODERS - Q3 AuM +9% £430bn...............................................+1%
RENTOKIL - rev +13.7%,Puerto Rico op's severely impacted,g'dance unch.......UNCH
RANK - Group LfL +2%,Grosvenor casino -1% on lower win margin...............UNCH
STATPRO - revs and profits continue to be in line,recurring revs +40%.......UNCH
ON THE BEACH - strong H2 rev +26%,UK +17%,one-off Monarch cost,PBT in line..+1%
TRISTEL - sales and profits exceed market expec and internal plan...........+2%
GAMES WORKSHOP - sales to date continue strongly,profits well above prior yr.+2%
UNILEVER - Q3 sales +2.6%(Est+4%).Revs 13.17b(Est13.94b).divi 0.3585euro....-3%
TRAVIS PERKINS - sales+3.5%.On track for Fy.Remains cautious on mkt outlook.+1%
LSE - Q3 rev+18%.Q3 total income +17% to 486m.Increase stake in LCH Grp.....+1%
STOBART - H1 ptp 111.6m.Divi 4.5p.Volumes for 6 months lower than expected..-2%
MARSHALLS - investor day, no change to FY expectations,next update 10 Jan...UNCH
HOMESERVE - £125m placing to fund acq of assets of Dominion Products........MKT
INTERSERVE - Q3 slowdown driven by cost pressures,profit halved from prev yr-15%
MS Pre Open Indications
* AHT LN +1% UNITED RENTALS +2% AFTER MKT; BEAT WAS EXPECTED; BUT RAISES GUIDANCE
* CA FP -1% 3Q SALES IN LINE; 2017 GUIDANCE REITERATED; FRENCH LFL -0.9% v CONS -0.5%.
* CFR VX UNCH SWISS WATCH EXPORTS +3.7% IN SEPTEMBER, BROADLY WITH YTD RUNRATE. HK CONTINUES RECOVERY; CHINA, UK SLOWS; US, JAPAN REMAIN WEAK
* COMH SS -2% COM HEM DOWMGRADED TO NEUTRAL FROM OUTPERFORM AT CS
* HO FP -2% Q3 SALES & ORDERS MISS, CO BLAMING "PHASING EFFECTS", CONFIRMS FY SALES & PROFIT GUIDANCE
* IWG LN -20-25% IWG 17 OP PROFIT NOW EXPECTED MATERIALLY BELOW ESTIMATES,17 OP PFT NOW EXPECTED IN RANGE OF £160M TO £170M VS BLOOMBERG CONS £217M
* KGX GY -6-8% KION SEES FY FREE CASH FLOW EU320-380M HAD SEEN EU370-430M,3Q REV EU1.85B VS BLOOMBERG CONS 1.99B,,SEES FY ORDER INTAKE EU7.55 -EU7.9 BLN VS PREVIOUS EU7.8-8.25 BLN
* NESN VX -1% ORG GROWTH BEATS 3.2% v CONS 2.9%; LFL GUIDANCE GIVEN 2.6% V PREVIOUSLY LOWER END OF 2-4% RANGE; EXPECT MARGINS -40-60BPS v FLAT PREVIOUSLY; TRAVELED WELL RECENTLY
* NOKIA FH +1-2% NOKIA TEAMING UP WITH AMAZON WEB SERVICES FOR IOT CONSULTATION AND DESIGN
* NOVOB DC UNCH/+1% FDA PANEL APPROVES SEMAGLUTIDE. AS EXPECTED, ALMOST ENTIRELY IN THE PRICE
* PKN PW -3% Q3 NET INCOME 18% MISS AND EBITDA 9% MISS, WEAK ACROSS ALL SEGMENTS
* PUB FP -4% 3Q WEAK ORG GROWTH (1.2% VS 1.8%) AND REVS SMALL MISS. TRADED WELL INTO NUMBERS ON US COMPS, ACCENTURE STORY
* PWTN SW -3-4% STRONG NET REVS BUT GP IN-LINE WITH CONS AND EBITMISSES; FY17 EBIT LOOKS A SIGNIFICANT STRETCH NOW.
* ROG VX +1% Q3 SALES BANG IN LINE, AVASTIN & HERCEPTIN LIGHT vs BIG BEAT FOR NEW MS DRUG OCREVUS. GUIDANCE CONF'D.
* RTO LN -1% IN-LINE STATEMENT; SLIGHTLY BEHIND ON ORG GROWTH; GUIDANCE UNCH; HURRICANE WORK WILL TAKE TIME TO COME THROUGH TO NUMBERS.
* SAP GY -2% FX HEADWINDS FOR CLOUD SUBS. MARGINS MISS. GUIDANCE NARROWED TO UPPER END OF RANGE, MATCHES CSS.
* TEL2B DC +2% EBITDA BEAT AND RAISE FY EBITDA GUIDANCE. BEAT DRIVEN BY NETHERLANDS RATHER THAN DOMESTIC
* TELIA SS -1% HEADLINE NUMBERS INLINE, DOMESTICS MISS
* TPK LN -2-3% TRAVIS PERKINS 3Q SALES +3.5%,REMAINS CAUTIOUS ON MKT OUTLOOOK,,SAYS ON TRACK TO ACHIEVE FY VIEWS
* UHR VX UNCH SWISS WATCH EXPORTS +3.7% IN SEPTEMBER, BROADLY WITH YTD RUNRATE. HK CONTINUES RECOVERY; CHINA, UK SLOWS; US, JAPAN REMAIN WEAK
* ULVR LN -2% REVS LIGHT - PERSONAL CARE CONTINUES TO DRAG - PRICING BEATS BUT VOLUMES MISS - CO. STILL EXPECT U/L SALES GROWTH IN 3-5% RANGE
exane Indications
Ashtead +2%
Carrefour +0.5%
Danone -0.5%
EI Towers -2-3%
GTT -3%
Kingfisher -1%
KION -4%
LSE -2-3%
Nestle +0.5%
Novo Nordisk +1-2%
Panalpina -5%
Pernod Ricard +2%
Publicis -2%
Rentokil -2%
Richemont +1%
Roche u/c
SAP -2%
Schroders +1%
Segro u/c
Soitec +10%
South32 -1-2%
Swatch +1%
Tele2 +4-5%
Telia -1-2%
Temenos +2%
Thales -3%
Travis Perkins +3%
Unilever -2-3%
Vilmorin -2%
Yara -1%
Macq UK Indications:
* Ashtead AHT- United Rentals Q3 beat. +1%
* Genel GENL- Kurdistan progressing as normal, Keeps Capex & Opex Guidance Unchanged.
* GoCompare GOCO- Chairman Sir Peter Wood sells 21.3 shs at 100p (Close 104.5p). -1%
* Interserve IRV- Q3 Trading slowed, realistic chance they won’t meet Banking Covenants by end Dec. -30%
* IWG- Big profits warning, Q3 not improved as expected but October being positive. -10%
* LSE- Group continues to perform well, Q3 Rev’s up 18%.Increaseing stake in LCH. Xavier Rolet to leave by Dec 2018. +1%
* Rentokil RTO- Keeps FY guidance, Q3 rev +13.7%, some impact from storms in September, been strong into the numbers. -1-2%
* Segro SGRO- Good Q3 Rental Growth, Rental growth up 3%. Net Debt £2.3bn. Unch
* South32 S32- Poor FY Coal Output, keeping guidance. -2%
* Travis Perkins TPK- Q3 Sales Growth of 3.5% ahead of est’s. UK market remains tough due to on-going uncertainty, Wickes performance ‘subdued’. -1%
* Unilever ULVR- Q3 LFL Sales +2.6% miss est’s. -2-3%
US MArket closed again on Record levels. Steels higher ahead of STEEL DYNAMICS and NUCCOR earnings. Semis up again (LAM RESEARCH earnings). AutoParts higher on BofA double-upgrade of MAGNA INTERNATIONAL. Oil subs lower (E&Ps struggled as NatGas fell -3%) and telcos saw some prof taking ahead of VERIZON earnings today. Homebuilders lagged on weak Housing starts. US after Hours , LLNW +12%, ADBE +9%, URI / KMI +2% higher and EBAY -6%, AA / HCA -1% lower following earnings/guidance. ASIAN EQUITIES – TRADING MIXED. Follow-through momentum from overnight US strength waning with GREATER CHINA underperforming and ASX 200/KOSPI erasing earlier gains. THE YEN added to sharp overnight declines, as higher UST yields highlighted as the main dynamic. Crude oil also retraced earlier advance with gold moderately weaker. Macro data was the main focus in the region. China Q3 GDP WAS INLINE with expectations. Press takeaways highlighted solid growth bolsters President Xi's political capital as he seeks to consolidate power. September IP and RETAIL SALES WERE FIRMER than expected, while fixed asset investment disappointed.
Nikkei +0.44% Hang Seng -0.18% CSI -0.19% Shanghai -0.33% Shenzen -0.41%
Eur$ 1.1800 CNH 6.6273 CNY 6.6248 JPY 113.05 GBP 1.3203 RUB 57.4141 CHF 0.9806
S&P -0.05% EuroStoxx +0.00% FTSE -0.04% Dax +0.06% SMI -0.01%
Macro:
- Worried by Record-Low Vol? It’s the Economy, Stupid: Macro View
- Italian Fund F2i Is Said to Seek at Least 3b Euros: Reuters
- Fed Beige Book Anecdotes: Hurricanes Affect Supply Chain
Keep an eye on :
- AA US : Alcoa Boosts FY Adjusted Ebitda View, 4.8% Above Est.
- AX US : American Express Boosts FY Adjusted EPS View, Beats Est.
- AAPL US : Apple Cuts Supplier Orders for IPhone 8 as Sales Miss: EDN
- AXFO SS : Axfood Third Quarter Operating Profit Beats Highest Estimate, 3Q Margin Slightly Lower Due to Investments
- BMW GY : BMW Earnings Risk Skewed to Downside, Rating Cut: Morgan Stanley
- BC IM : Brunello Cucinelli Says He’s Optimistic for 2018: Handelszeitung
- BN FP : Danone’s Riboud Plans to Keep Influence Within Company: Figaro
- ENI IM : Eni CEO Sees ’No Big Issue’ With Bridgewater Short
- GAM SW : GAM Holding Says It Won’t Pass on MiFID II Research Costs
- GET FP : Eurotunnel 3Q Comparable Revenue Growth 3%, Boosted by Shuttle
- KGX GY : Kion Cuts Full Year Order Intake Forecast
- KLOVA SS : Klovern Nine Month Property Management Profit SEK1.0 Bln
- LIGHT NA : Philips Lighting Third Quarter Revenue Misses Lowest Estimate, CEO Sees Dynamic Market in US Lamps Business
- NESN VX : Nestle Sees Added Restructuring Costs, Confirms Sales Forecast
- NOKIA FH : Nokia, Amazon Web Services to Help Service Providers Use Cloud
- NOVB DC : Novo Nordisk Diabetes Drug Wins FDA Advisory Panel Backing
- PUB FP : Publicis 2Q Revenue Falls 2.2%; Co. Sees 2H Improvement, CEO Aims for Higher Growth And Margins in Three Years
- RTO LN : Rentokil 3Q Ongoing Rev. Up 13.7%; M&A Pipeline Remains Strong
- RI FP : Pernod Ricard 1Q Sales EU2.29b; Est. EU2.26b
- ROG VX : Roche Third Quarter Sales Meets Estimates
- SAP GY : SAP Raises FY Forecast; 3Q Op. Profit, Revenue Miss Estimates
- SLIGR NA : Sligro 3Q Sales EU731m Vs EU712 in Previous Year
- HO FP : Thales 3Q Sales Fall 2.9%; Targets Confirmed
- TEL2B SS : Tele2 Boosts Full Year Ebitda Forecast
- TELIA SS : Telia Third Quarter Adjusted Ebitda Meets Estimates
- TEMN SW : Temenos Ests. Raised at Barclays After Beat, Stays Equalweight
- UNA NA : Unilever 3Q Underlying Sales Up 2.6%, Est. Up 4%
- ZO1 GY : Zooplus Third Quarter Sales EU277 Mln
- ZURN VX : Zurich Expects Net Claims of $700m from Three Hurricanes
>>> Up
* Aixtron Raised to Accumulate at Equinet
* Beiersdorf Raised to Outperform at Credit Suisse
* EasyJet Raised to Neutral at MainFirst, PT GBP13
* Hammerson Raised to Neutral at Exane
* N Brown Raised to Buy at HSBC, PT GBP3.85
* Puma SE Raised to Buy at Baader-Helvea, PT EU400
>>> Down
* Air France-KLM Cut to Neutral at MainFirst, PT EU14
* BMW Cut to Underweight at Morgan Stanley, PT EU81
* Com Hem Cut to Neutral at Credit Suisse
* FACC Cut to Accumulate at Erste Group, PT EU15
* L'Oreal Cut to Neutral at Credit Suisse
* NEX Group Cut to Underperform at RBC, PT 600p
* Ryanair Cut to Underperform at MainFirst, PT EU14
* Segro Cut to Neutral at Exane
>>> Initiation
* Amundi New Buy at Berenberg, PT EU84
* Anima New Buy at Berenberg, PT EU7.90
* Azimut New Hold at Berenberg, PT EU18.70
* Engie New Neutral at MedioBanca, PT EU15
* Pirelli New Hold at Deutsche Bank, PT EU6.70
* Rocket Internet New Buy at Bankhaus Lampe, PT EU27
* Unipol New Overweight at JPMorgan, PT EU5
* UnipolSai New Neutral at JPMorgan, PT EU2.27
* Wood Group Reinstated Underweight at Barclays, PT 730p
China economy records 6.8% growth in third quarter
China’s economy grew at 6.8 per cent in the third quarter from a year earlier, slightly below the previous period but ahead of the government’s full-year target, boosting President Xi Jinping’s effort to consolidate power at a five-yearly Communist party leadership transition.
Analysts have said that Mr Xi was determined to ensure strong growth in the lead-up to the party congress, where he will seek to install loyalists in key positions.
Asia Mid-Session Update: China Q3 GDP comes in as expected; BOK has a dissenter in rate decision
***Asia Summary***
-Asian equity markets opened the session mixed. Chinese equity markets have traded somewhat lower as GDP in Q3 met expectations. Recall, there were some expectations that the figure could be better than expected.
-The Nikkei 225 opened higher, as the index attempts to gain for the 13th straight session, which would be the longest winning streak in over 20 years.
-Japanese banks have traded broadly higher amid the recent gains in government bond yields and earlier rise in some of the larger US banks. Australian banks are also generally trading higher.
-Australian energy company quarterly updates were in focus. Santos has gained after raising its FY production forecast, while Woodside Petroleum has declined after reporting lower Q3 revenues and naming a new CFO.
-In terms of technology, Taiwanese companies that supply Apple are generally lower following a press report that the US tech firm is said to have cut iPhone 8 orders for Nov and Dec. Also, South Korean chip makers are once again trading lower on today’s session. LG Electronics has gained over 5% on reports that the company will partner with Qualcomm on self-driving auto components.
-Chinese telecom ZTE Corp has declined by over 3%, despite reporting y/y growth in its 9-month net profits and revenues.
-In describing China’s GDP data, the Stats Bureau said in the Jan-Sept period consumption contributed 64.5% to GDP. It also expects the domestic economy to maintain improving momentum. Amid the data, China’s 10-year bond yield has declined.
-Australia’s 3-year bond yield has risen by over 4bps, after the September employment change beat expectations, while the unemployment rate unexpectedly fell. Yields have also moved higher following the gains seen in US Treasury yields on Wednesday’s session amid comments from influential NY Fed President Dudley. Dudley said the Fed is on the path to achieve 3 rate hikes in 2017 (implying one more rate increase this year). Recall when Dudley previously spoke on Oct 6th, he did not comment on the timing for rate hikes.
-At the longer end of the curve, earlier today, Japan’s 20 and 30-year JGB yields hit highs not seen since July. Bank of Japan (BoJ) official Nakaso said the central bank will adjust the shape of the yield curve as needed. He added that the BoJ can achieve the same rate with smaller amount of JGB purchases.
-Meanwhile, in South Korea the 10-year bond yield has risen over 3bps, as even though the Bank of Korea (BOK) left rates unchanged (as expected), there was a hawkish dissenter at today’s policy meeting, who voted for a rate hike. The central bank additionally raised its 2017 GDP growth and inflation forecasts as it believes the impact of souring trade relations with China will ease in 2018.
-In foreign exchange, the PBoC’s Sept Net Forex Purchase Position saw its first m/m rise since Oct 2015. The data comes amid other signs of easing capital outflows from China. PBoC Gov Zhou said the yuan’s trading band (currently 2%) is not too important and the expansion of it is not a current focus.
-The Aussie traded toward session highs following the better than expected Sept employment change. However, the currency has since pared gains after the in line China GDP data. The Kiwi has traded lower, as the government formation process in New Zealand continues. On yesterday’s session, a NZ First Party official said an announcement was expected during this afternoon.
-Looking ahead, US companies due to report earnings today include Bank of NY Mellon, Intuitive Surgical, Nucor, PPG Industries, PayPal, Philip Morris and Verizon.
***Key economic data***
- (CN) CHINA Q3 GDP Q/Q: 1.7% V 1.7%E; Y/Y: 6.8% V 6.8%E
- (JP) JAPAN SEPT TRADE BALANCE: ¥670.2B V ¥556.8BE; ADJ: ¥240.3B V ¥367.3B PRIOR
- (AU) AUSTRALIA SEPT EMPLOYMENT CHANGE: +19.8K V +15.0KE; UNEMPLOYMENT RATE: 5.5% V 5.6%E
- (AU) Australia Sept RBA Govt FX Transactions (A$): -762M v -581M prior
- (KR) BANK OF KOREA (BOK) LEAVES 7-DAY REPO RATE UNCHANGED AT 1.25%; AS EXPECTED
- (CN) CHINA SEPT FIXED ASSETS EX RURAL YTD Y/Y: 7.5% V 7.7%E
- (CN) CHINA SEPT RETAIL SALES Y/Y: 10.3% V 10.2%E; YTD Y/Y: 10.4% V 10.3%E
- (CN) CHINA SEPT INDUSTRIAL PRODUCTION Y/Y: 6.6% V 6.5%E; YTD Y/Y: 6.7% V 6.7%E
- (CN) China PBoC Sept Net Forex Purchase Position (CNY): +0.9B m/m (first rise since Oct 2015)
***Speakers and Press***
Japan
- (JP) Japan PM Abe Cabinet approval rating declines 2 pct points to 38% - Asahi Poll
- (JP) BoJ Nakaso: Will adjust shape of yield curve as needed; BoJ can impact rates even if JGBs to buy become scarce
South Korea
- (KR) South Korea Finance Ministry: While North Korean tensions have persisted, financial markets have been stable and the impact on the economy has been limited - statement ahead of parliamentary audit due Oct. 19-20
China/Hong Kong
- (CN) China Economist sees China avg annual GDP growth at 5% from 2020-2035 - Chinese press
- (CN) PBOC Yi Gang: Price stability not equal to financial stability -speaking at 19th Party Congress
- (CN) China Banking Regulatory Commission (CBRC) Guo: China to deepen reform, opening up banks - speaking at 19th Party Congress
- (CN) China Wind data shows Q3 performance forecast reports from China's listed companies have beaten market expectations – Xinhua
- USD/CNY (CN) PBOC Gov Zhou: Yuan trading band is not too important, band expansion is not a current focus
- (CN) China FX Regulator SAFE Chief/PBoC Pan: China FX market supply and demand basically balanced
- (CN) China Stats Bureau (NBS) Xing: Jan-Sept consumption contributed 64.5% to GDP growth, 32.8% for capital formation and 2.7% for net exports; Domestic economy to maintain steady and improving momentum
Australia/New Zealand
- (NZ) New Zealand National Party Leader English: Does not know whether NZ First will support National; Will present to caucus the ‘broad parameters’ of agreement with NZ First and will seek their support
***Asian Equity Indices/Futures (00:00ET)***
- Nikkei +0.4%, Hang Seng -0.2%; Shanghai Composite -0.4%; ASX200 +0.0%, Kospi -0.4%
- Equity Futures: S&P500 -0.0%; Nasdaq100 -0.1%, Dax -0.1%; FTSE100 -0.1%
***FX ranges/Commodities/Fixed Income (00:00ET)***
- EUR 1.1816-1.1792; JPY 113.09-112.88; AUD 0.7871-0.7841;NZD 0.7171-0.7123
- Dec Gold -0.1% at $1,281/oz; Nov Crude Oil -0.1% at $51.98/brl; Dec Copper -0.1% at $3.17/lb
- (NZ) New Zealand sells NZ$200M in 2.75% 2025 bonds; avg yield 2.7545%; bid-to-cover 2.66x
- (CN) China PBOC injects CNY140B in combined 7-day and 14-day reverse repos v CNY300B prior; injects net CNY100B v CNY270B prior
- USD/CNY (CN) PBOC SETS YUAN REFERENCE RATE AT 6.6093 V 6.5991 PRIOR
- (JP) Japan MoF sells ¥1,78T in 5-yr JGBS; avg yield -0.0820% v -0.110% prior; bid-to-cover 4.24x v 4.07x prior
***Equities notable movers***
Australia/New Zealand
- RCR.AU Awarded gas-fired power plant contract with PT Kartanegara Energi Perkasa in Indonesia worth ~A$75M; +6%
- PEN.AU To divest 74% stake in South Africa Karoo projects through an active process; -4.8%
Korea
- 047810.KR Will not to put co. under evaluation for possible delisting, trading resumes; +14.3%
China/Hong Kong
- 763.HK Reports 9-month (CNY) Net 3.91B v 2.86B y/y, Op 5.29B v 952M y/y, Rev 76.6B v 71.6B y/y; -5%
US
- AAPL Said to cut orders for iPhone 8 and Plus by around 50% for Nov and Dec to 5-6M units/month - Taiwanese Press; -0.9% after hours