Newsquawk Daily European Equity Opening News - 5th July 2023

5th July 2023

ASIA

Asia-Pac stocks were mostly lower following the holiday lull stateside and as participants digested the latest Chinese Caixin Services PMI data, while geopolitical concerns also lingered after Ukraine and Russia accused each other of planning an overnight attack on the Zaporizhzhia nuclear plant. ASX 200 (-0.3%) was marginally lower amid underperformance in the largest-weighted financials sector and after mostly softer data releases from Australia. Nikkei 225 (-0.4%) slumped at the open but is off its lows after it held above the 33,000 level and clawed back some of the losses. Hang Seng (-1.4%) and Shanghai Comp. (-0.5%) were subdued by ongoing trade-related frictions with warnings of more retaliatory measures against Western tech export controls, while the latest Chinese Caixin Services PMI missed forecasts and printed its slowest pace of increase since January.

Honda (767 JT) - China vehicle sales fell 19.8% Y/Y to 113.1k units. (Newswires)

EUROPEAN CLOSES

Bourses: DAX -0.26% at 16,039, FTSE 100: -0.09% at 7,521, CAC 40 -0.23% at 7,370, Euro Stoxx 50 -0.15% at 4,392, IBEX 35 -0.58% at 9,588, FTSE MIB -0.16% at 28,401, SMI +0.03% at 11,223

Sectors: Healthcare 0.53%, IT 0.45%, Energy 0.39%, Telecoms 0.27%, Utilities 0.16%, Consumer Disc 0.15%, Materials 0.11%, Consumer Stpl -0.14%, Financials -0.24%, Industrials -0.35%

FTSE 100

AstraZeneca (AZN LN) - Berenberg said that the recent drop in AstraZeneca's stock price due to lung cancer data is excessive. The pharma company released positive data about Dato-DXd in lung cancer, but investors were disappointed by the absence of "clinically meaningful" language as well as on some adverse events. Berenberg also notes the pharma's strong pipeline.

OTHER UK COMPANIES

BROKER MOVES

DAX

OTHER GERMAN COMPANIES

Evotec (EVT GY) - Awarded second contract from US DoD under accelerated antibodies program for USD 74mln. (Newswires)

Grenke (GLJ GY) - Q2 2023 (EUR): CM2 margin reaches 16.9% (Prev. 15.9%), Contribution margin 109.7mln (Prev. 93.2mln), +17.7%. Grenke grows and increases new leasing business CM2 margin in Q2 2023. Stable demand with continued uptrend in e-bike leasing. (Newswires)

BROKER MOVES

CAC

Airbus (AIR FP) - Proceeds with plans to develop a lightweight wing in the UK for the next-generation A320, according to the FT. (FT)

OTHER FRENCH COMPANIES

Technip Energies (TE FP) - Selected by Aramco for a project management consultancy contract, to develop a new industrial city in Saudi Arabia. (Newswires)

BROKER MOVES

Getlink (GET FP) initiated with Overweight at JP Morgan Chase

PAN EUROPE

OMV (OMV AV) - ADNOC is reportedly in talks with the Co. to form a USD 30bln chemicals giant, via Reuters citing sources. (Reuters)

Prysmian (PRY IM) - Receives EUR 85mln initial payment for UK high voltage cable link. (Newswires)

BROKER MOVES

Adyen (ADYEN NA) downgraded to Neutral from Buy at UBS

Nexi (NEXI IM) initiated with Buy at UBS

SMI

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Aker BP (AKERBP NO) - Reports Trading Update (Q2): Net Production 481k (prev. 181k mboepd y/y), Net Volume Sold 477.4k mboepd. Represents new quarterly record for the Co., driven by high production efficiency. (Newswires)

Skanska (SKAB SS) - Builds hospital in Florida for USD 109mln, around SEK 1.1bln, order will be included in US order bookings for Q2 2023. (Newswires) Awarded ~SEK 700mln contract amendment for data centre in Arizona, USA. (Newswires)

BROKER MOVES

US - Independence Day Closure

05 Jul 2023 - 06:47- Research Sheet- Source: Newsquawk