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OFFON

Romain
Fournier

Journalist
By the same author
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GLOBAL MARKETS LIVE: Apple, EssilorLuxottica, Air France, KLM…

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07/31/2019 | 10:14am EDT

Corporate publications still dominate the news with a few heavyweights such as L'Oréal, Airbus, or EssilorLuxottica. The latter confirmed the acquisition of GrandVision for €5.5 billion. Apple reassured with its accounts last night. Credit Suisse and Swiss Re published above expectations. Us equities advance, while global equity markets remain mixed.

US MARKETS:

S&P 500 futures up 0.2% to 3,019.50
Brent Futures up 0.9% to $65.16/bbl
Gold spot down 0.02% to $1,430.53
US Dollar Index up 0.06% to 98.11

GLOBAL NEWS:

Earnings season. Airbus, BNP Paribas, EssilorLuxottica, Vinci, Intesa, Lloyds, Glencore, LafargeHolcim, Credit Suisse and many others in Europe. Qualcomm, American Tower, General Electric, Automatic Data Processing, CME Group, Dominion Energy or Simon Property in the United States.

Overview of corporate results:

-Apple is reassuring with rather solid results and prospects at the top of the expectations range, even if iPhone sales are under surveillance, which does not prevent the stock from progressing after the session. For Samsung, the reading is less favorable with a significant drop in profits. Amgen, Mondelez and Gilead have also published good figures. Swiss Re far exceeds expectations, while Credit Suisse is above consensus. Fiat Chrysler publishes above expectations thanks to the United States. General Electric is raising its forecasts.

-In Europe, Air France KLM and BNP Paribas reassured with results that contrasted with those of their counterparts. Vinci and Eutelsat also received a warm welcome for their quarterly reports, and to a lesser extent those of Mersen, LafargeHolcim and M6 Métropole Télévision. Heavy disappointments on the other hand on Manitou and Bic. L'Oréal lost 3% due to slower organic growth, slightly below 7%. Fresh welcome also for the figures of X-Fab and Wendel. In Europe, Umicore, Puma and Solvay shine after their results, with gains of more than 3.5%. Glanbia sinks after a warning, while Lloyds' figures disappoint.

EssilorLuxottica acquires GrandVision. It is official, EssilorLuxottica will buy back the 76.72% held by HAL in GrandVision on the basis of EUR 28 per share, and will launch a takeover bid on the balance of the shares. The price will be revised upwards to EUR 28.42 if the acquisition is not completed within 12 months of the announcement. The network is thus valued at €5.5 billion. GrandVision provides 7200 stores and online outlets in more than 40 countries, with 37,000 employees and annual sales of €3.7 billion.

A contract and a funeral. In line with rumors, Air France-KLM has placed a firm order for 60 A220-300s from Airbus to replace its A318s and A319s from 2021, while removing its A380s from service.

In other news. New Delhi prohibits Anheuser-Busch Inbev from selling beer on its territory for three years on a tax evasion case. Roche is once again extending its offer period for Spark Therapeutics. The Hong Kong Stock Exchange closed earlier than expected due to a storm warning. Nestlé is investing CHF 99 million to increase production in Indonesia. Audi's former boss is going to be tried for fraud in the dieselgate case.
Stocks mentioned in the article
ChangeLast1st jan.
AIR FRANCE-KLM -0.57% 9.068 Real-time Quote.-4.35%
AIRBUS SE -3.21% 120.1 Real-time Quote.43.04%
AMERICAN TOWER CORP -0.67% 225.56 Delayed Quote.42.59%
AMGEN 0.66% 196.94 Delayed Quote.1.17%
ANHEUSER-BUSCH INBEV 1.93% 88.07 Delayed Quote.52.63%
APPLE -1.46% 217.73 Delayed Quote.38.03%
AUTOMATIC DATA PROCESSING -0.03% 159.3 Delayed Quote.21.53%
BNP PARIBAS 1.22% 45.295 Real-time Quote.14.74%
CME GROUP INC. -0.38% 211.15 Delayed Quote.12.24%
CREDIT SUISSE GROUP AG -0.27% 12.865 Delayed Quote.19.12%
DJ INDUSTRIAL -0.59% 26935.07 Delayed Quote.16.15%
DOMINION ENERGY INC. -0.10% 80.84 Delayed Quote.13.13%
ESSILORLUXOTTICA 0.92% 132.1 Real-time Quote.19.60%
EUTELSAT COMMUNICATIONS -0.27% 16.855 Real-time Quote.-2.03%
FIAT CHRYSLER AUTOMOBILES -0.52% 12.336 End-of-day quote.-2.73%
GENERAL ELECTRIC COMPANY -0.53% 9.37 Delayed Quote.23.78%
GILEAD SCIENCES 0.70% 66.42 Delayed Quote.6.19%
GLANBIA 0.00%End-of-day quote.0.00%
GLENCORE 0.88% 256.55 Delayed Quote.-11.94%
GRANDVISION -0.15% 27.5 Delayed Quote.43.75%
INTESA SANPAOLO SPA 0.09% 2.166 End-of-day quote.11.66%
KLM -33.57% 0.93 Delayed Quote.0.00%
L'ORÉAL 0.69% 249 Real-time Quote.23.76%
LAFARGEHOLCIM 0.46% 50 Delayed Quote.23.46%
LLOYDS BANKING GROUP 2.68% 55.51 Delayed Quote.7.06%
MONDELEZ INTERNATIONAL -0.71% 54.65 Delayed Quote.36.52%
NASDAQ 100 -0.99% 7823.553294 Delayed Quote.24.63%
NASDAQ COMP. -0.80% 8117.674437 Delayed Quote.23.37%
NESTLE -0.19% 107.24 Delayed Quote.34.42%
PUMA 1.45% 70.15 Delayed Quote.64.29%
QUALCOMM -2.29% 76.44 Delayed Quote.34.32%
S&P 500 -0.49% 2992.07 Delayed Quote.19.36%
SAMSUNG ELECTRONICS CO LTD End-of-day quote.
SIMON PROPERTY GROUP 0.27% 155.04 Delayed Quote.-7.71%
SOLVAY -0.56% 96.06 Delayed Quote.10.01%
SWISS RE 1.04% 89.02 Delayed Quote.11.28%
UMICORE 1.41% 33.78 Delayed Quote.-3.10%
US DOLLAR INDEX 0.19% 98.46 End-of-day quote.1.84%
VINCI -0.06% 98.64 Real-time Quote.36.96%
WENDEL 0.00% 123.8 Real-time Quote.18.24%
X-FAB SILICON FOUNDRIES SE -1.12% 4.4 Real-time Quote.3.29%

Romain Fournier
© MarketScreener.com 2019
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