Νέες απώλειες στα ευρωπαϊκά χρηματιστήρια
Με αρνητικό πρόσημο ολοκλήρωσαν την σημερινή συνεδρίαση τα περισσότερα ευρωπαϊκά χρηματιστήρια, περιορίζοντας στο δεύτερο μισό αυτής τις απώλειες τους, με το επενδυτικό ενδιαφέρον να παραμένει στραμμένο τόσο στην συνεδρίαση της ΕΚΤ την επόμενη εβδομάδα, με τις πιθανότητες αύξησης των επιτοκίων από την κεντρική τράπεζα να είναι 33%, όσο και στην κατάσταση της οικονομίας της ευρωζώνης.
Στην Γερμανία, οι βιομηχανικές παραγγελίες για τον μήνα Ιούλιο υποχώρησαν 11,7% έναντι εκτιμήσεων για πτώση 4% και αύξησης 7,6% τον προηγούμενο μήνα.
Στην Βρετανία ο δείκτης PMI κατασκευών για τον μήνα Αύγουστο, ανακοινώθηκε στις 50,8 μονάδες έναντι εκτιμήσεων 50,5 μονάδων και 51,7 μονάδων τον προηγούμενο μήνα.
Η βρετανική κυβέρνηση προέβη σήμερα στην έκδοση πενταετούς ομολόγου, με κουπόνι 4,803% έναντι 4,575% της αντίστοιχης προηγούμενης έκδοσης.
Η γερμανική κυβέρνηση προέβη σήμερα στην έκδοση δεκαετούς ομολόγου, με κουπόνι 2,63% έναντι 2,46% της αντίστοιχης προηγούμενης έκδοσης.
Ο δείκτης Eurostoxx 600 έκλεισε στις 454,36 μονάδες με απώλειες 0,56%.
Στην Φρανκφούρτη ο δείκτης DAX έκλεισε στις 15.741,55 μονάδες με απώλειες 0,19%, παραμένοντας με σήμα strong sell, με την αντίσταση να βρίσκεται στις 16,144 μονάδες και την στήριξη στις 15.594 μονάδες.
Μεγαλύτερη άνοδος
Μεγαλύτερη πτώση
Στο Λονδίνο ο δείκτης FTSE 100 έκλεισε στις 7.426,32 μονάδες με απώλειες 0,16%, παραμένοντας με σήμα neutral, με την αντίσταση να βρίσκεται στις 7.531 μονάδες και την στήριξη στις 7.262 μονάδες.
Μεγαλύτερη άνοδος
Μεγαλύτερη πτώση
Στο Παρίσι ο δείκτης CAC 40 έκλεισε στις 7.194,09 μονάδες με απώλειες 0,84%, παραμένοντας με σήμα strong sell, με την αντίσταση να βρίσκεται στις 7.438 μονάδες και την στήριξη στις 7.167 μονάδες.
Μεγαλύτερη άνοδος
Μεγαλύτερη πτώση
Recommendations
BASF: JP Morgan analyst Chetan Udeshi maintains his Buy rating on the stock.
Volkswagen: Jose Asumendi from JP Morgan retains his positive opinion on the stock with a Buy rating. The target price is still set at EUR 193.
Allianz: In a research note, Berenberg analyst Michael Huttner has maintained his recommendation on the stock with a Buy rating. The target price remains set at EUR 309.
Siemens Energy: Barclays increases his rating from Neutral to Buy. The target price is unchanged and still at EUR 19.
Stellantis: Stellantis NV (STLA) has an average rating of outperform and price targets ranging from $18 to $42, according to analysts polled by Capital IQ.
Sartorius: Jefferies confirms his opinion on the stock and remains Neutral. The target price is unchanged at EUR 345.
Εταιρικά νέα
Oxford Nanopore Technologies backed its full-year view despite a widened pretax loss in the first half of the year due to a 30% drop in revenue. The DNA-sequencing specialist said Wednesday that its pretax loss widened to 66.5 million pounds ($83.6 million) in the half-year from GBP27.6 million in the prior-year’s similar period. Revenue fell to GBP86.0 million from GBP122.35 million a year prior, although the prior-year period’s revenue was boosted by GBP51.8 million gains from legacy Covid-19 testing. Revenue from life science research tools, or LSRT, climbed 22% to GBP86.0 million, driven by new customer acquisitions, as previously reported. Its adjusted loss before interest, taxes, depreciation and amortization–which strips out exceptional and other one-off items–widened slightly to GBP39.4 million from GBP34.6 million. Looking ahead, the company said its seeing increasing demand globally for it platform, and that it enters the second half-year in a strong financial position. The company backed its full-year guidance of 18%-25% revenue growth in LSRT.
Restaurant Group has raised its full-year adjusted Ebitda forecast as it reported a swing to pretax profit for the first half year on higher revenue that was driven by Wagamama, pubs and concessions. The U.K. restaurant operator–which houses brands including Wagamama, Brunning & Price and Frankie & Benny’s–said Wednesday that pretax profit for the half year ended July 2 was 2.3 million pounds ($2.9 million) compared with a loss of GBP28.5 million in the same prior-year period, on revenue that rose 10% to GBP467.4 million. Wagamama like-for-like sales for the period rose 4% while concessions revenue rose 28% and pubs revenue rose 9%. However, leisure like-for-like revenue fell 5% in the period. Adjusted earnings before interest, taxes, depreciation and amortization–one of the company’s preferred metrics, which strips out exceptional and other one-off items– rose 15% to GBP36.3 million. The company hasn’t provided any figures for the year. However, adjusted Ebitda consensus is GBP79.7 million, taken from FactSet and based on three analysts’ forecasts. This compares with GBP83 million in 2022. “We are making excellent progress on our medium-term plan and the board continues to actively explore strategic options to further accelerate margin accretion and deleveraging,” Chief Executive Andy Hornby said.
Severfield said its performance in the five months of fiscal 2024 has met management expectations, and that its outlook remains positive. The U.K. steel company said on Wednesday that the order book for the U.K. and Europe region as of Sept. 1 stood at 479 million pounds ($601.9 million), of which GBP337 million is set for delivery over the next 12 months. The company said the order book remains well-diversified and contains a good mix of projects across its key market sectors. Severfield said many of its markets have a favorable outlook, adding it has a prominent position in sectors with strong growth potential and is well-positioned to win projects related to the low-carbon economy. “Whilst current trading conditions are more challenging, given the group’s historical performance, diversified activities and the strength of our order books, we continue to expect to deliver further progress and a result for [fiscal] 2024 which is in line with our expectations,” the company said.
Beeks Financial Cloud Group said it expects to report a rise in revenue and underlying pretax profit for fiscal 2023, and that the board had significant visibility on its fiscal 2024 expectations. The U.K.-based IT company said Wednesday that for the year ended June 30, revenue is expected to be more than 20% higher than in fiscal 2022, when it reported revenue of 18.3 million pounds ($23 million). Underlying pretax profit–which strips out exceptional and other one-off items–is expected to be around 10% higher than the GBP2.1 million reported last year. Annualized committed monthly recurring revenue growth in the year rose more than 20% to GBP23.8 million, and has further increased to more than GBP25 million as of Aug. 31 “as a result of a strong start to the new financial year,” the company said. “We have entered the new year with high levels of revenue visibility and strong momentum and thus remain in line with management expectations for fiscal 2024, with further upside potential from new client wins,” Chief Executive Gordon McArthur said.
Barratt Developments‘ reported pretax profit rose together with revenue, though adjusted profit fell and it said it expects market conditions to remain tough over the coming months, retaining its guidance for lower completions in fiscal 2024. The FTSE 100 home builder said Wednesday that for the year ended June 30, pretax profit rose to 705.1 million pounds ($886 million) from GBP642.3 million a year prior, as the gross margin improved to 18.3% from 17.1%. This reflects lower adjusting items on-year. Adjusted pretax profit, however, slipped to GBP884.3 million, from GBP1.05 billion. Barratt said in July that it expected to meet market expectations of around GBP880.6 million.
Revenue increased 1% on year to GBP5.3 billion. The company completed 17,206 homes in the period including joint ventures, compared with 17,908 in fiscal 2022, with the shortfall offset by an increased averaged selling price of GBP320,000, from GBP300,200. This slip in completions reflects a market-wide slowdown following last autumn’s Mini-budget. Barratt said it had total forward sales of 9,608 homes as of Aug. 27 for a total value of GBP2.44 billion, down from 14,058 homes for GBP3.81 billion on Aug. 28, 2022. The company backed prior guidance of total home completions of between 13,250 and 14,250 homes in fiscal 2024, and said it is already 49% forward sold for privately owned homes as of Aug. 27.
The company said short-term demand has been hit by mortgage affordability challenges, with the net private reservation rate per active outlet from July 1 to Aug. 27 at 0.42. for the comparable period a year prior, the figure was 0.60. “Whilst we expect that the backdrop will continue to be difficult over the coming months, we are a resilient business with a strong balance sheet and an experienced management team,” said Chief Executive David Thomas. The board declared a final dividend of 23.5 pence a share, bringing the full year payout to 33.7 pence, down from 36.9 pence in fiscal 2022. The company said that given current market uncertainty, it has decided to retain surplus capital to maintain the resilience of its balance sheet.
Halfords Group that fiscal 2024 performance to date has been in line with expectations, with services division remaining robust but discretionary markets softer. The motoring-and-cycling products provider said Wednesday that it currently expects pretax profit for the year ending March 31 to be between 48 million and 58 million pounds ($60.3 million-$72.9 million). This compares with the company-provided market consensus of GBP53.7 million, with forecasts ranging between GBP51.0 million and GBP57.7 million. The company added that revenue for the 20 weeks to Aug. 18 rose 14%, with autocenters’ revenue up 35% and retail increasing 3.7% despite the unfavorable weather conditions throughout the period. Its cost and efficiency program remain on track to deliver the year one target of GBP30 million, the company said.
WH Smith expects to meet upgraded fiscal 2023 earnings, with its performance driven by travel on the back of strong passenger numbers in the second half year. The books, magazine and snack retailer–which has sites around airports and train stations as well as in the high street–said that revenue for the year ended Aug. 31 rose 18% on a like-for-like basis with travel up 27% and the high street up 1%. For the second half, group revenue was up 11%, with travel up 15% and high street up 1%. In May the company lifted its full-year guidance after a strong revenue performance over the 13-weeks ended May 27, but didn’t provide any figures. At that time an analyst-poll taken from FactSet had a pretax profit forecast of 143.7 million pounds ($180.6 million) and revenue of GBP1.80 billion. WH Smith said Wednesday that it plans to open 40 new stores in North America and 25 new stores in the rest of the world. Including the U.K. travel business the company expects to open over 80 new stores the travel businesses this fiscal year. The company plans to report fiscal 2023 earnings on Nov. 9.
Ashmore Group’s pretax profit fell in fiscal 2023 due to a weaker first half-year amid tightening policy rates, banking failures and geopolitical tensions, but market conditions in emerging markets are recovering, it said Wednesday. The emerging markets assets manager said pretax profit fell to 111.8 million pounds ($140.5 million) in the year ended June 30 from GBP118.4 million in fiscal 2022. Analysts had seen a pretax profit of GBP114.1 million, based on a company-provided consensus of nine brokers’ estimates. Net revenue–which is total revenue adjusted for distribution costs and foreign exchange–fell to GBP196.4 million from GBP262.5 million a year prior. Net management fees were down to GBP183.2 million from GBP243.5 million, reflecting the already-reported 13% fall in assets under management as well as the net management fee margin-drop of 1 basis point to 38 basis points. The board declared a stable dividend of 12.1 pence.
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