EU CONSUMER STAPLES: Metro AG: FY Results Ahead
Dec-03 16:04
(MEOGR; NR/BB+ Pos/NR)
(+1 uplift and Pos. outlook for EP group/Křetínský)
- It has been another lacklustre year (to date) but it is still guiding to EBITDA growth for the FY, which implies firmer 4Q.
- Uplift is linked to Daniel Křetínský's parent company, EP Group, which holds energy business EPH (~50% of EP EBITDA), logistics/mail business IDS (30%) and Metro (15%).
- That uplift will be able to hold MEOGR issuer ratings unch at -1 below the parent (= BB+ currently) unless standalone rating falls below B+ (currently BB flat).
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US STOCKS: Early Equities Roundup: Tech Stocks Buoy Nasdaq
Nov-03 15:55
- Stocks have reversed early morning gains Monday, are trading mostly weaker by midmorning - the tech-heavy Nasdaq outperforming.
- Currently, the DJIA trades down 243.74 points (-0.51%) at 47327.76, S&P E-Minis down 2.75 points (-0.04%) at 6873
Nasdaq up 98.6 points (0.4%) at 23829.47. - Consumer Discretionary and Information Technology sector shares led advances in the first half, Amazon.com +4.73%, Tesla +2.46% and Wynn Resorts +2.22% led the former while IT supported by: Micron Technology +4.24%, NVIDIA +2.61%, Lam Research +1.51%, Palantir Technologies +1.29% and Cisco Systems +1.20%.
- Conversely, a mix of Materials, Financials and Energy sector shares led declines in the first half:
- International Paper -4.24%, Dow Inc -3.46%, Eastman Chemical -3.06% Freeport-McMoRan -2.83%, Nucor Corp -2.75%.
- Coinbase Global -3.75%, Arthur J Gallagher -3.70%, Global Payments -3.51% and Brown & Brown -3.26%
- ONEOK -4.01%, Diamondback Energy -2.28%, APA -2.25% and Chevron Corp -2.17%.
- Earnings expected after the close include: Qorvo Inc, Clorox, Navitas Semiconductor, Hims & Hers Health Inc, Palantir Technologies, Solaris Energy Infrastructer, Williams Cos, Vertex Pharmaceuticals and Comstock Resources.
OPTIONS: Expiries for Nov4 NY cut 1000ET (Source DTCC)
Nov-03 15:54
- EUR/USD: $1.1475(E651mln), $1.1525(E1.1bln), $1.1635-40(E1.3bln)
- GBP/USD: $1.3150(Gbp510mln)
- AUD/USD: $0.6625-30(A$1.2bln)
ITALY AUCTION PREVIEW: MEF announces buyback on Wednesday 5 November
Nov-03 15:45
The MEF will look to buyback up to E5.0bln on Wednesday 5 November via Banca d'Italia from the following:
- 3.20% Jan-26 BTP Short Term (ISIN: IT0005584302)
- 4.50% Mar-26 BTP (ISIN: IT0004644735)
- 3.80% Apr-26 BTP (ISIN: IT0005538597)
- 2.10% Jul-26 BTP (ISIN: IT0005370306)
- 3.85% Sep-26 BTP (ISIN: IT0005556011)
- 0.50% Apr-26 CCTeu (ISIN: IT0005428617)
