Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Associated British Foods    ABF   GB0006731235

ASSOCIATED BRITISH FOODS

(ABF)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

European shares edge higher as cyclicals back in favour

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/18/2018 | 12:44pm EST
The German share price index, DAX board, is seen at the stock exchange in Frankfurt

LONDON (Reuters) - European shares notched up modest gains on Thursday, led higher by a fresh rise for so-called cyclical stocks while company updates and ratings changes from brokers spurred moves among individual names.

The pan-European STOXX 600 <.STOXX> was up 0.2 percent at its close, while the UK's FTSE <.FTSE> declined 0.3 percent.

Switzerland's Geberit (>> Geberit) posted the best performance among European stocks, with a 6.5 percent rise after reporting a 3.5 percent increase in 2017 sales.

In France, Carrefour (>> Carrefour) was among the top performers on the CAC 40 <.FCHI> with a 3 percent rise, with traders saying stronger-than-expected fourth quarter sales from the supermarket chain had offset the negative impact of a new profit forecast cut.

In Frankfurt, German chipmaker Infineon (>> Infineon Technologies) led the DAX <.GDAXI> higher, adding 5.6 percent after getting a rating upgrade from Goldman Sachs, while SocGen began its coverage of the stock with a "buy" rating.

The tech sector <.SX8P> was the best performer throughout Europe, up 1 percent with STMicro (>> STMicroelectronics) leading Milan's bourse with a 3.8 percent rise. Strong results by ASML (>> ASML) had lifted investors' spirits on the industry during the previous session.

Tech, along with financials and materials, added the most points to the STOXX, as investors continued to rotate into stocks which are more dependent on economic growth.

"We see sustained above-trend economic expansion and a steady earnings outlook supporting cyclicals," Richard Turnill, BlackRock's global chief investment strategist, said in a note.

In the UK, Whitbread  (>> Whitbread) rose 3.5 percent despite reporting tough consumer market conditions after sources told Reuters that activist investor Sachem Head was asking Britain's biggest hotel and coffee shop operator to consider splitting off the Costa Coffee chain.

"The pressure on the UK high street may indeed make this the time for Whitbread to at least look at its options. Break up rumours could support the share price even in the face of weaker LFL (like-for-like) sales growth," said ETX Capital senior market analyst Neil Wilson.

Primark owner Associated British Foods (>> Associated British Foods) was down 3.6 percent after saying that revenues and profits at its sugar business would fall by more than previously expected due to lower European Union sugar prices.

In Belgium, Ablynx (>> Ablynx) rose 1.7 percent after its largest shareholder said Denmark's Novo Nordisk (>> Novo Nordisk A/S) would need to raise its offer if it wanted to buy the Belgian biotech group.

(Reporting by Julien Ponthus and Kit Rees; Editing by Kevin Liffey and Toby Davis)

By Julien Ponthus and Kit Rees

Stocks mentioned in the article
ChangeLast1st jan.
ASML HOLDING N.V. -0.12% 244.65 Delayed Quote.78.37%
ASSOCIATED BRITISH FOODS 0.90% 2458 Delayed Quote.20.31%
CAC 40 -0.25% 5894.03 Real-time Quote.25.55%
CAC 40 INDEX FUTURE (FCE) - LIF/C1 -0.53% 5869 Delayed Quote.24.48%
CARREFOUR 0.46% 15.33 Real-time Quote.2.82%
DAX -0.48% 13158.14 Delayed Quote.24.62%
GEBERIT AG 0.76% 528.2 Delayed Quote.37.12%
GOLDMAN SACHS GROUP INC. -0.97% 217.91 Delayed Quote.30.45%
INFINEON TECHNOLOGIES AG -0.68% 19.144 Delayed Quote.10.24%
LONDON SUGAR 0.03% 336.3 End-of-day quote.0.69%
NOVO NORDISK AS -4.10% 368.75 Delayed Quote.29.07%
STMICROELECTRONICS 0.09% 21.88 End-of-day quote.78.74%
STOXX EUROPE 600 -0.41% 403.82 Delayed Quote.20.25%
WHITBREAD PLC -0.81% 4401 Delayed Quote.-3.89%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ASSOCIATED BRITISH FOODS
11/05EUROPE : European shares hit more than four-year peak on trade hopes
RE
11/05LONDON STOCK EXCHANGE : Primark owner, oil majors push FTSE higher
RE
11/05Global Stocks Rise on Hopes for Initial Trade Agreement
DJ
11/05Global Stocks Rise on Hopes for U.S., China Tariff Roll Back
DJ
11/05Global Stocks Rise on Hopes for U.S., China Tariff Rollback
DJ
11/05ASSOCIATED BRITISH FOODS : Primark owner AB Foods' confident outlook boosts shar..
RE
11/05ASSOCIATED BRITISH FOODS : AB Foods Pretax Profit Fell in Fiscal Year 2019
DJ
11/05ASSOCIATED BRITISH FOODS : 2019 Annual Results Announcement
PU
10/31ASSOCIATED BRITISH FOODS PLC : annual earnings release
10/21Reckitt hires Ahold's Carr to take over as CFO in 2020
RE
More news
Financials (GBP)
Sales 2020 16 486 M
EBIT 2020 1 568 M
Net income 2020 1 150 M
Finance 2020 1 453 M
Yield 2020 2,06%
P/E ratio 2020 17,0x
P/E ratio 2021 15,8x
EV / Sales2020 1,09x
EV / Sales2021 1,03x
Capitalization 19 391 M
Chart ASSOCIATED BRITISH FOODS
Duration : Period :
Associated British Foods Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ASSOCIATED BRITISH FOODS
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 2 686,51  GBp
Last Close Price 2 458,00  GBp
Spread / Highest target 32,2%
Spread / Average Target 9,30%
Spread / Lowest Target -26,0%
EPS Revisions
Managers
NameTitle
George Garfield Weston Chief Executive Officer & Executive Director
Michael G. McLintock Chairman
John George Bason Executive Director & Finance Director
Emma Susan Adamo Non-Executive Director
Ruth L. Cairnie Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ASSOCIATED BRITISH FOODS20.31%24 858
NESTLÉ S.A.30.43%303 497
MONDELEZ INTERNATIONAL30.93%75 893
DANONE20.57%53 577
THE KRAFT HEINZ COMPANY-27.76%38 222
GENERAL MILLS, INC.36.54%31 978