77% of STOXX 600 constituents traded lower yesterday.
79% of the shares trade above their 20D MA vs 86% Monday (above the 20D moving average).
34% of the shares trade above their 200D MA vs 37% Monday (above the 20D moving average).
The Euro Stoxx 50 Volatility index added 1.64pt to 27.85.
The 10yr Bund yield fell 1bp to 0.22% (above its 20D MA). The 2yr-10yr spread rose 3bps to -75bps (below its 20D MA).
SECTORS vs STOXX 600
3mths relative high: none
3mths relative low: Real Estate
FR 08:30: Feb Bank of France Bus. Sentiment, exp.: 101 UK 10:30: Jan Industrial Production MoM, exp.: 0.4% UK 10:30: Jan Manufacturing Production MoM, exp.: 0.2% UK 16:00: Feb NIESR GDP Estimate
UK – IRELAND
Prudential, G4S Plc, Restaurant Group FY results expected
Basic Resources, oil & gas and technology shares fell most in London on Tuesday.
Banks: Lloyds Banking Group (-2.91% to 70.63p) reached a new 3-month relative low against the STOXX Europe 600.
Personal & Household Goods: Burberry Group (+6.64% to 1462p) closed at a 3-month relative high against the STOXX Europe 600.
Stock/Benchmark ratio(s) 50D MA cross under: Provident Financial (-3% to 3102p), Rightmove (-2.15% to 3830p).
Stock(s) 50D MA cross under: Booker Group (-2.7% to 162p), 3I Group (-2.56% to 426p), Rightmove (-2.15% to 3830p).
Burberry Group was downgraded to “hold” from “buy” at HSBC.
Ashtead Group was downgraded to “underperform” from “outperform” at Credit Suisse.
Croda International was downgraded to “neutral” from “buy” at Goldman Sachs.
Tullow Oil was downgraded to “neutral” from “buy” at UBS.
GERMANY – AUSTRIA
E.ON announced FY15 net loss of E7B (vs E6.4B expected, E3.16B loss last year) on revenue of E116B (vs E112B expected). The Co maintained a dividend of E0.50 per share and saw FY16 underlying net income of E1.2B-E1.6B.
Deutsche Post posted 4Q EBIT of E957M (vs E939M expected, E905M a year ago) on revenue of E15.34B (vs E16.03B expected, E15.37B a year ago). The Co reiterated its FY16 forecast of EBIT between E3.3B-E3.7B.
DE – Stock/Benchmark ratio(s) 50D MA cross over: Deutsche Post (+3.23% to E23.3)
Stock/Benchmark ratio(s) 50D MA cross under: Deutsche Bank (-2.11% to E17.37).
DE – Stock(s) 50D MA cross under: Deutsche Bank (-2.11% to E17.37), Duerr (-3.71% to E59.99).
Credit Agricole said it targeted FY net income above E4.2B in 2019, and average annual revenue growth above 2.5%.
Lagardere has plans to cut 170-260 jobs in “Lagardere Active” media division, reported Le Figaro citing people familiar with the matter.
Casino reported FY15 underlying net profit down 35% YoY to E412M (vs E556M last year) on trading profit of E1.45B (vs E1.51B expected). The Co maintained dividend at E3.12 per share.
GL Events posted FY15 net income up 8% YoY to E37.1M on revenue of E942.4M, up 0.3% YoY. The Co confirmed a profitable growth in 2016.
Transgene announced FY15 results: “Net cash burn for 2015 decreased by 22.5% to E34.8 million, versus E44.9 million in 2014 (…) Net loss of E46.4 million in 2015, including restructuring costs, compared to E48.6 million in 2014.”
Valeo: Blackrock has cut its stake to 4.96%. Separately, the Co confirmed the acquisition of peiker, adding: “The acquisition of peiker, which is expected to report sales of around E325 million for 2015, will have a positive impact on Valeo’s results starting in 2016.”
Haulotte Group posted FY15 net income down 4% YoY to E27.7M on revenue of E445.3M, up 8% YoY. The Co proposed a dividend of E0.22 per share. On the outlook, the Co said: “Haulotte Group expects sales growth of close to 5% in 2016 and a further improvement in its current operating margin rate.”
JCDecaux launched the digital transformation of the bus shelter network in London.
Rubis, Lagardere FY results expected.
Stock/Benchmark ratio(s) 50D MA cross under: Dassault Aviation (-4.41% to E1020).
Stock(s) 50D MA cross under: Dassault Aviation (-4.41% to E1020).
SPAIN – PORTUGAL – GREECE
Inditex posted FY15 net income of E2.88B (vs E2.90B expected) on revenue of E20.9B, up 8.5% YoY. The Co proposed a dividend of E0.60 per share.
Cie Automotive disclosed that it is considering strategic options for Global Dominion Access unit, which could include IPO of the unit.
EFG Eurobank Ergasias 1Q results expected
PT – Stock/Benchmark ratio(s) 50D MA cross under: Banco Comercial Portugues (-3.02% to E0.04)
GR – Stock/Benchmark ratio(s) 50D MA cross over: Alpha Bank AE (+5.26% to E1.8), EFG Eurobank Ergasias (+4.49% to E0.72).
ES – Stock(s) 50D MA cross under: DIA (-3.4% to E4.83)
PT – Stock(s) 50D MA cross under: Banco Comercial Portugues (-3.02% to E0.04)
GR – Stock(s) 50D MA cross over: Alpha Bank AE (+5.26% to E1.8).
EC: European Student Convention Amsterdam; Workshop: e-Infrastructure Reflection Group
Boskalis Westminster announced FY15 net income of E440M (vs E455M expected) on revenue of E3.24B (vs E3.14B expected). The Co expected FY16 net income to be “substantially lower than the very strong 2015 result”.
Relx reported that it had bought back 181.5K shares at E14.9307 per share yesterday (March 8).
Heineken was upgraded to “buy” from “neutral” at Goldman Sachs.
bpost FY results expected
NL – Stock/Benchmark ratio(s) 50D MA cross over: OCI (+3.31% to E17.32).
NL – Stock(s) 50D MA cross over: OCI (+3.31% to E17.32).
Telecom Italia announced the completion of the sale of stake in Telecom Argentina to Fintech Group for $550.6M.
Adecco announced FY15 EBITA up 10% organically to E1.08B on revenue of E22B, up 4% organically. The Co declared a dividend of CHF 2.4 per share. Separately, the Co recommended cash offer of 365p per share for Penna Consulting for appx £105M in total.
SCANDINAVIA – DENMARK
SE – Stock/Benchmark ratio(s) 50D MA cross under: Fingerprint Cards (-7.27% to SEK452.5).
FI – Stock(s) 50D MA cross under: UPM-Kymmene (-2.04% to E15.33)
SE – Stock(s) 50D MA cross under: Fingerprint Cards (-7.27% to SEK452.5).
Market overview and technical analysis on this site broght to you and Copyright by TRADING CENTRAL
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects TRADING CENTRAL current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.
Services in the U.S. are offered through TRADING CENTRAL Americas, Inc.
TRADING CENTRAL is not registered in France as an Investment Services Provider but complies with the following rules and directives, including:
– General Regulation Handbook of the AMF, Book III, Title III, Chapter VII “Investment Analysts Not Associated with an Investment Services Provider”
– EU Commission Directive 2006/73 dated 10 August 2006, Articles 24 and 25
– EU Commission Directive 2004/39 dated 21 April 2004
– EU Commission Directive 2003/125 dated 22 December 2003
This disclosure notifies the user of the potential financial risks of engaging in trading.
Spot Foreign Exchange (Forex or FX), Spread Trading and CFDs are volatile instruments and are not always appropriate for everyone. Indeed, the transaction of such financial instruments can contain a substantial degree of risk and in certain circumstances you may lose your initial investment; so you should consult your financial adviser before trading.
Before deciding to undertake such transactions with REAL FOREX, you should carefully evaluate whether your financial situation is appropriate for such transactions and you should make sure to obtain a clear and accurate understanding of the risks inherent to your trading. Investors may be subject to their respective local regulations or laws when using the service of this website and should therefore make sure that they do not violate local financial regulations before using this service.
This website and its information should not be considered as a recommendation, solicitation or offer to conduct investment business. The services and investments referred to on this website may not be suitable for all investors and before trading, you should seek independent advice from your qualified financial adviser. REAL FOREX shall not be liable to any customer or third person for the accuracy of the information or any market quotations supplied through this service.