Ρευστοποιήσεις στα ευρωπαϊκά χρηματιστήρια
Πτωτικές τάσεις επικράτησαν σήμερα στα περισσότερα ευρωπαϊκά χρηματιστήρια, εν μέσω μικτών εταιρικών αποτελεσμάτων, κι εν αναμονής των αποφάσεων FED και ΕΚΤ.
Ο δείκτης Eurostoxx 600 έκλεισε στις 465,26 μονάδες με απώλειες 0,57%.
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Στην Φρανκφούρτη ο δείκτης DAX έκλεισε στις 16.124,05 μονάδες με απώλειες 0,54%, διατηρώντας το σήμα strong buy, με την αντίσταση να βρίσκεται στις 16.233 μονάδες και την στήριξη στις 15.143 μονάδες.
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Στο Λονδίνο ο δείκτης FTSE 100 έκλεισε στις 7.662,35 μονάδες με απώλειες 0,38%, παραμένοντας με σήμα strong buy, με την αντίσταση να βρίσκεται στις 7.911 μονάδες και την στήριξη στις 6.972 μονάδες.
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Στο Παρίσι ο δείκτης CAC 40 έκλεισε στις 7.315,07 μονάδες με απώλειες 1,35%, μετατρέποντας το σήμα από strong buy σε neutral, με την αντίσταση να βρίσκεται στις 7.599 μονάδες και την στήριξη στις 6.931 μονάδες.
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Εταιρικά νέα
Anglo American said Wednesday that rough-diamond sales by its majority-owned De Beers Group fell 10% in the sixth cycle compared with the earlier cycle, in line with seasonal trends. The FTSE 100 diversified mining company said De Beers sold $410 million of diamonds in the sixth sales cycle of the year, compared with $456 million in the fifth cycle and $638 million in the sixth cycle of 2022. There are 10 sales cycles each year. “Participants in the diamond industry’s midstream sector continue to take a cautious approach to purchases in light of ongoing macroeconomic challenges,” De Beers Chief Executive Al Cook said. Anglo American said sales are provisional figures and based on expected sales between July 10 and July 25.
Mining giant Rio Tinto reported a 43% drop in first-half net profit and pared its payout to shareholders, reflecting a fall in commodity prices as China’s economic recovery faltered. The world’s second-biggest miner by market value on Wednesday said it made a net profit of $5.12 billion in the six months through June, down from $8.94 billion a year earlier. Underlying earnings totaled $5.72 billion, compared with $8.66 billion in the first half of 2022, as prices of aluminum, copper and, most importantly, iron ore – which accounts for most of Rio Tinto’s profits–declined. Analysts had expected underlying earnings of roughly $5.85 billion, according to 11 forecasts compiled by Visible Alpha. Directors of Rio Tinto declared an interim dividend of $1.77 a share which the miner said was equal to 50% of underlying earnings, in line with its policy and typical midyear payouts in recent years. A year ago, Rio Tinto paid out $2.67 a share, also 50% of underlying earnings.
Aston Martin Lagonda Global said Wednesday that its first-half pretax loss narrowed and revenue rose on higher volumes and increased prices, and it expects to largely achieve its 2025 financial targets by 2024. The U.K. luxury-car maker said that pretax loss for the half year ended June 30 narrowed to 142.2 million pounds ($183.5 million) from a loss of GBP285.4 million the year before. Adjusted earnings before interest, taxes, depreciation and amortization rose 38% on year to GBP80.6 million, primarily due to revenue growth and a 26% gross profit increase to GBP236.3 million, it said. Revenue rose 25% to GBP677.4 million, driven by higher volumes, strong pricing and favorable mix. Total wholesale volumes rose 10% to 2,954 vehicles, which the company attributed to significantly higher volumes of the DBX model. The company backed its guidance for 2023 for a significant on-year growth in profit, and said it was on track to largely meet its 2025 targets of 10,000 wholesales, GBP2 billion in revenue and GBP500 million in adjusted Ebitda by 2024 and likely exceed them the following year.
Rolls-Royce Holdings on Wednesday lifted its full-year guidance after better-than-expected underlying operating profit in the first half of 2023. The British aerospace and defense company said it now expects full-year underlying operating profit of 1.2 billion to 1.4 billion pounds ($1.55 billion-$1.81 billion) compared with previous expectations of GBP800 million-GBP1.0 billion. The company raised its full-year free cash-flow expectation to GBP900 million-GBP1.0 billion compared with its earlier view of GBP600 million-GBP800 million. The guidance raise comes on the back of a beat to underlying operating profit consensus-estimates, with the company expecting to report between GBP660 million and GBP680 million in the first half of the year, compared with a company-compiled consensus of GBP328 million.
British American Tobacco said Wednesday that first-half pretax profit rose as revenue beat consensus driven by new categories, and backed its guidance for the year. The FTSE 100 cigarette maker–which houses the Kent, Dunhill and Lucky Strike brands–said pretax profit was 5.3 billion pounds ($6.84 billion) compared with GBP3.06 billion for the first half of 2022. Revenue for the period rose to GBP13.44 billion from GBP12.87 billion the year before. The company provided consensus of GBP13.32 billion. Revenue from the company’s new categories segment–which includes vaping products and oral tobacco–rose 29% to GBP1.66 billion, beating company-provided consensus of GBP1.57 billion. The company said that revenue from non-combustibles now made up 17% of group revenue, up 180 basis points from 2022.
Puma said Wednesday that earnings fell in the second quarter as a result of higher costs and currency effects. The German sporting-goods company said it made 55 million euros ($60.8 million) in net profit for the quarter, compared with EUR84.3 million in the same period a year prior, on revenue that grew 5.9% on a reported basis to EUR2.12 billion. The company’s second-quarter gross profit margin came to 44.8%, compared with 46.5% a year ago, due to currency effects, sourcing and freight costs and promotions, it said. Earnings before interest and taxes fell 21% on year in the quarter to EUR115.3 million due to a weaker gross profit margin, while operating expenses rose 6.6% to EUR843.4 million, Puma said. Puma, which in April warned of muted consumer sentiment on the back of high interest rates and inflation, said that volatile retail demand remains a challenge, particularly in North America and Europe. The company confirmed its 2023 outlook for high single-digit percentage currency-adjusted sales growth and backed its expectation of EBIT between EUR590 million and EUR670 million.
Lloyds Banking Group on Wednesday posted pretax profit for the second quarter of 2023 below expectations but lifted some of its guidance for the year. The British bank posted a pretax profit for the three months to June 30 of 1.61 billion pounds ($2.08 billion) compared with GBP1.54 billion restated for the same period a year earlier and with GBP1.72 billion expected by a company-compiled consensus. The FTSE 100 listed group’s net income rose to GBP4.53 billion from a restated GBP4.03 billion, beating a consensus estimate of GBP4.51 billion. Its banking net interest margin was 3.14% for the quarter, while consensus had seen it at 3.10%. The lender lifted its banking net interest margin guidance for the year to 3.10%, from 3.05% previously, but below consensus of 3.12% for 2023. Lloyds also now sees its return on tangible equity to be greater than 14%, from around 13%, while consensus forecasts 14.5%. It closed the period with a common equity Tier 1 ratio–a key measure of balance-sheet strength–of 14.2%, in line with market expectations. The board proposed an interim dividend of 0.92 pence in line with views, compared with 0.80 pence last year.
Reckitt Benckiser Group said Wednesday that pretax profit for the first half of the year slipped despite a rise in revenue, as volumes slipped and operating expenses rose, and backed its revenue growth expectations for the full year. The consumer-goods company–which houses Dettol, Harpic and Durex among its brands–posted a pretax profit of 1.64 billion pounds ($2.12 billion) for the six months compared with a profit of GBP1.69 billion in the year-earlier period. Prices/mix was up 10.4%, while volumes fell 4.4%. Adjusted operating profit rose to GBP1.77 billion, from GBP1.765 billion. Reckitt backed guidance for 2023 revenue growth on a like-for-like basis in the range of 3% to 5%. It raised guidance for its adjusted operating margin to be slightly ahead of 2022 levels from prior guidance of it being flat, when excluding a one-off benefit related to U.S. nutrition. Revenue rose to GBP7.45 billion from GBP6.89 billion the prior year. Meanwhile, revenue for the second quarter was GBP3.53 billion, compared with GBP3.46 billion for the second quarter a year before. The board declared an interim dividend of 76.6 pence a share, up from 73 pence last year.
Fresnillo on Wednesday backed its full-year guidance after second-quarter total silver production rose 13%, but gold output fell 12%. The Mexican precious metals miner produced 14.9 million ounces of silver in the quarter, up from the first-quarter output of 13.16 million ounces. Gold production fell to 152,380 ounces from 173,034 ounces from the preceding quarter. Silver output was mainly driven by the ramp-up of the new Juanicipio mine, while the lower gold result was due to lower ore volume processed at the Herradura mine on a temporary suspension of operations, as reported in May, Fresnillo said. The FTSE 100-listed company said the ramp-up of Juanicipio is progressing as planned, as its expects to reach full nameplate capacity in the next quarter. Lead output rose to 13,994 metric tons from 13,368 tons, while zinc production grew to 25,670 tons from 24,118 tons. Looking ahead, the company reaffirmed its full-year expectations of attributable silver production including silverstream in the range of 57.0 million-64.0 million ounces, while attributable gold production is seen in the 590,000 to 640,000 ounces range.
Stellantis on Wednesday confirmed its 2023 guidance following a jump in net profit and revenue in the first half. The Netherlands-based car maker posted revenue of 98.37 billion euros ($108.75 billion), a 12% rise from the first half of 2022. Net profit rose 37% to EUR10.92 billion. The company, which makes over a dozen brands including Jeep and Dodge, said adjusted operating income rose 11% to EUR14.13 billion. Its adjusted operating income margin was 14.4% compared to 14.5% a year ago. Stellantis confirmed its 2023 guidance of a double-digit adjusted operating income margin and positive industrial free cash flows.
Porsche AG on Wednesday confirmed its 2023 guidance after reporting higher revenue and operating profit in the first half. The German sports car maker said revenue grew to 20.43 billion euros ($22.59 billion) compared with EUR17.92 billion in the first half of 2022. Operating profit rose to EUR3.85 billion from EUR3.48 billion a year ago, while operating return on sales fell to 18.9% from 19.4%. Porsche AG’s free automotive cash flow fell 7.2% to EUR2.22 billion due to investments in products and innovation, it said. The company made 167,354 deliveries to customers, an increase of 15% from a year ago. Porsche confirmed its 2023 guidance provided that macroeconimic and supply chains do not worsen significantly. The company is targeting an operating return on sales of between 17% and 19% with revenue between EUR40 billion and EUR42 billion for the year.
Orange said Wednesday that it is on track to achieve its 2023 targets after it reported higher revenue and slightly lower earnings for the second quarter. The French telecommunications company said earnings before interest, taxes, depreciation and amortization after leases for the quarter were 3.305 billion euros ($3.65 billion), down 0.2% on year. On a comparable basis, Ebitda after leases rose 1%, Orange said. Revenue for the quarter rose 2% to EUR10.93 billion. Revenue increased 2.6% on a comparable basis, with growth in the company’s Europe and Africa and Middle East segments offsetting a decline in France. Analysts expected Orange to report quarterly Ebitda after leases of EUR3.31 billion on revenue of EUR10.81 billion, according to consensus estimates provided by the company.
UniCredit said Wednesday that it has raised its 2023 guidance, including on shareholder returns, as second-quarter profit and revenue beat expectations, driven by rising interest rates that boosted net interest income. The Italian bank reported quarterly net profit of 2.31 billion euros ($2.55 billion), higher than the EUR2.01 billion in the same period of last year. Revenue climbed 25% on year to EUR5.97 billion, helped by net interest income, which came in 41% higher at EUR3.50 billion, driven by higher interest rates. Analysts had expected net profit at EUR1.66 billion and revenue at EUR5.62 billion, according to consensus provided by the bank. On the back of the improved interest-rate environment, the Milan-based bank said it raised its guidance for 2023 to net profit at or above EUR7.25 billion, net interest income of at least EUR13.2 billion and revenue of above EUR21.5 billion, alongside shareholder distribution of at least EUR6.5 billion. Guidance for profit and shareholder returns in 2024 is expected to be broadly in line with 2023, UniCredit added.
Deutsche Bank on Wednesday reported a decline in second-quarter earnings after a rise in costs and loan-loss provisions, and separately said late on Tuesday that it plans to resume buying back shares in August. The German lender’s profit attributable to shareholders in the quarter fell to 763 million euros ($843.5 million) from EUR1.05 billion in the prior year, while total revenue grew 11% to EUR7.41 billion. The bank’s second-quarter earnings were hurt by non-interest expenses of EUR5.6 billion, a 15% on year increase, reflecting EUR655 million in non-operating costs due to litigation and restructuring expenses. The bank also had an increase in credit loss provisions, a reflection of a more challenging environment, it said. Deutsche Bank said separately that, starting next month, it is planning to start share buybacks over the remainder of the year worth up to EUR450 million, an amount roughly 50% higher than in 2022. The bank said this was in line with the rise to 30 European cents of its 2022 dividend. Deutsche Bank said it is expecting to return more than EUR1 billion in capital to shareholders this year through dividends and share repurchases, compared with around EUR700 million in 2022.
Τα παραπάνω εκφράζουν προσωπικές απόψεις, και σε καμία περίπτωση δεν αποτελούν προτροπή για αγορά, πώληση ή διακράτηση οποιασδήποτε κινητής αξίας.
