EU FINANCIALS: FINANCIALS: Allianz (ALVGR: Aa2/AA/AA-) - Steady
Nov-13 06:57
Allianz (ALVGR: Aa2/AA/AA-) - Steady
- Earnings numbers solid. Comparisons with Q3 23 will be flattening as that was a relatively weak quarter. Total operating profit increased 0.3% to €3,939m.
- In P&C Operating profit increased 2.8% QoQ to €1,969m. This represented good business volume growth as P&C ratio stayed steady. Nat Cat claims were still above anticipated level.
- Life operating profit was flat on Q2. New business flows look good and NBM continues to be well above 5% target
- Asset management showed solid growth, operating profit increasing by 5.4% QoQ to €782m. 2% increase in AUM vs Q2 is a solid outcome.
- Solvency II capital at 209%, up 3% from Q2. 5% Generation, -2% dividend accrual.
Valuation - Bonds trade in line with very high ratings
Call at 9am UK time - https://www.youtube.com/live/e5nRd1uR67k
Capital markets day Dec 10
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EQUITIES: EU Cash opening calls
Oct-14 06:55
Estox 50: +0.22%, Dax: +0.28%, CAC: +0.04%, FTSE +0.01%, SMI +0.32%.
AUDUSD TECHS: Pierces The 50-Day EMA
Oct-14 06:55
- RES 4: 0.6984 0.764 proj of the Aug 5 - 29 - Sep 11 price swing
- RES 3: 0.6942 High Sep 30 and the bull trigger
- RES 2: 0.6852/6889 High Oct 4 / 3
- RES 1: 0.6786 20-day EMA
- PRICE: 0.6737 @ 07:54 BST Oct 14
- SUP 1: 0.6702 Low Oct 10
- SUP 2: 0.6646 38.2% retracement of the Aug 5 - Sep 30 bull leg
- SUP 3: 0.6622 Low Sep 11 and key support
- SUP 4: 0.6576 61.8% retracement of the Aug 5 - Sep 30 bull leg
AUDUSD is in consolidation mode. A bearish theme remains intact and the pair is trading closer to its recent lows. Price has recently traded through both the 20- and 50-day EMAs. A clear break of the 50-day average, at 0.6750, would undermine a bullish theme and signal scope for a deeper retracement, towards 0.6622, the Sep 11 low and a key support. Key resistance and the bull trigger has been defined at 0.6942, the Sep 30 high.
USD: A positive start for the Dollar
Oct-14 06:50
- The Dollar is mostly on the front foot across most G10s, while the Pound and the Yen sits closer to flat.
- The immediate focus remains on the Yen near term, the 149.50 area has seen some fading interest last week, but market participants are still eyeing risk towards the 150.00 level initially.
- USDJPY printed a 149.55 last week and a 149.39 high overnight, albeit 20 pips off that high right now, but liquidity might be impacted with the US out today.
