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EU indices slightly down | TA focus on Kion Group

 

European stocks report | Halma | Kingfisher | Thyssenkrupp | Bouygues...

INDICES

Yesterday, European stocks remained firm. The Stoxx Europe 600 gained 0.44%, both Germany's DAX and France's CAC 40 climbed 0.52%, and the U.K.'s FTSE 100 added 0.31%.


EUROPE ADVANCE/DECLINE

62% of STOXX 600 constituents traded higher yesterday.

84% of the shares trade above their 20D MA vs 83% Tuesday (above the 20D moving average).

85% of the shares trade above their 200D MA vs 85% Tuesday (above the 20D moving average).


The Euro Stoxx 50 Volatility index eased 1.35pt to 20.9, a replacement 52w high.


SECTORS vs STOXX 600

3mths relative high: Insurance, Autos, Banks

3mths relative low: Healthcare


Europe Best 3 sectors

insurance, automobiles & parts, energy


Europe worst 3 sectors

health care, travel & leisure, food & beverage



INTEREST RATE

The 10yr Bund yield fell 2bps to -0.56% (above its 20D MA). The 2yr-10yr yield spread fell 1bp to -17bps (above its 20D MA).



ECONOMIC DATA

EC 09:00: ECB President Lagarde speech

EC 10:00: Sep accounting , exp.: E21.8B

EC 11:00: Sep Construction Output YoY, exp.: -0.9%

FR 11:00: 3-Year BTAN auction, exp.: -0.64%

FR 11:00: 5-Year BTAN auction, exp.: -0.7%

UK 12:00: Nov CBI Industrial Trends Orders, exp.: -34

GE 15:30: Bundesbank Mauderer speech

GE 17:00: Bundesbank Buch speech

GE 18:00: Bundesbank Wuermeling speech



MORNING TRADING

In Asian trading hours, EUR/USD slipped to 1.1845 and GBP/USD retreated to 1.3233. USD/JPY dipped to 103.78. AUD/USD fell to 0.7294 despite a stronger-than-expected jobs report. This morning, official data showed that the Australian economy added 178,800 jobs in October (-27,500 jobs expected), while jobless rate edged up to 7.0% (7.1% expected) from 6.9% in September.


Spot gold extended its decline to $1,867 an oz .



#UK - IRELAND#

Halma, a security equipment company, announced that 1H adjusted profit before tax fell 5% on year to 122 million pounds on revenue of 618 million pounds, down 5%. the corporate proposed an interim dividend of 6.87p per share, up 5%. Regarding the outlook, the corporate said "the Board now expects Adjusted profit before tax for FY 2020/21 to be around 5% below FY 2019/20, compared to prior guidance of fifty to 10% below FY 2019/20".


Johnson Matthey, a speciality chemicals company, posted 1H underlying profit before tax declined 53% on year to 109 million pounds and operating profit slid 43% to 151 million pounds on revenue of 6.98 billion pounds, up 2%. the corporate proposed an interim dividend of 20.0p per share, down from 24.5p per share within the prior-year period.


Kingfisher, a retailing group, released a 3Q trading update: "Q3 20/21 total Group sales of £3.5 billion, up 17.6% in constant currency; Group LFL sales up 17.4%. (...) Q4 20/21 Group LFL sales (to 14 November 2020) up 12.6%, largely reflecting the impact of newer temporary lockdown measures."


Wm Morrison Supermarkets, a sequence of supermarkets, was upgraded to "buy" from "sell" at Goldman Sachs.



#GERMANY#

Thyssenkrupp, an industrial management group, announced that full-year net loss (from continuing operations) widened to five .55 billion euros from 1.15 billion euros within the prior year and adjusted EBIT loss (from continuing operations) increased to 1.63 billion euros from 110 million euros. income (from continuing operations) were down 15% to twenty-eight .90 billion euros. the corporate expects FY2021 "sales growth within the low to mid single-digit percentage range" and "a significant year-on-year improvement in adjusted EBIT to a loss within the mid three-digit million euro range". additionally , the corporate said it sees the necessity for an extra 7,400 jobs reduction over subsequent three year, after around 3,600 jobs having already been cut.


Kion Group, a manufacturer of handling equipment, announced plans to issue 13,108,647 new shares, like approximately 11% of the present share capital, to strengthen its financial position.

From a technical point of view, an hypothetical head and shoulders pattern is taking shape. Furthermore, the share is trading below the key resistance at 81.5E. an opportunity below 65.E could confirm the head-and-shoulders' pattern because of this morning's bearish breakaway gap and trigger a replacement down leg towards 49.3E and 40.5E in extension.



#FRANCE#

Bouygues, an industrial group, posted 3Q net dropped 15.4% on year to 527 million euros while current operating profit increased 22.3% to 813 million euros on revenue of 10.19 billion euros, up 0.3%.



#BENELUX#

Unibail-Rodamco-Westfield, a billboard land company, announced the appointment of COO Jean-Marie Tritant will succeed Christophe Cuvillier as Chairman and CEO on January 1, 2021.

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