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    AKZA   NL0013267909

AKZO NOBEL N.V.

(AKZA)
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European stocks spring higher on reviving reflation trade

07/25/2017 | 05:12am EST
Traders work in front of the German share price index, DAX board, at the stock exchange in Frankfurt

LONDON (Reuters) - Strength among commodity firms and banking stocks as well as a string of solid updates boosted European shares in early deals on Tuesday.

Earnings season remains front and centre for equities investors though the focus will also be on the two-day U.S. Federal Reserve meeting which gets under way later in the day.

Expectations are for the Fed to wait for the fourth quarter before raising rates, as U.S. economic data has been weaker than expected.

The pan-European STOXX 600 <.STOXX> index rose 0.5 percent, bolstered by strength in mining firms <.SXPP> and banks <.SX7P> while blue chips <.STOXX50E> gained 0.6 percent.

"We're at that difficult junction in the middle of the year where we've rallied, we've done well, (we're) starting to accept that central banks are normalising more, but we haven't actually seen much more," Mike van Dulken, head of research at Accendo Markets, said.

"So are people starting to question the macro environment a bit more than they were?" van Dulken added.

Corporate results season gathered steam with British business media group Informa (>> Informa PLC) and Dutch staffing firm Randstad (>> Randstad) leading STOXX risers after well-received first-half updates, both gaining more than 6.5 percent.

Europe's tech sector <.SX8P> was also helped by iPhone supplier AMS (>> ams (Austria Mikro Systeme)), which rose after hiking its mid-term revenue target, while computer peripherals and mobile speaker maker Logitech (>> Logitech International) also raised its outlook.

Dutch paints maker Akzo Nobel (>> AkzoNobel) was one of the biggest individual drags on the STOXX, however, falling 1.3 percent after its second quarter profit missed forecasts.

Analysts at UBS highlighted weakness in Akzo Nobel's Performance Coatings division, adding that they were expecting investors to focus on near-term pressures facing the stock.

Updates also weighed on paper maker UPM (>> UPM-Kymmene Oyj), Cembra Money Bank (>> Cembra Money Bank) and Domino's Pizza (>> Domino's Pizza Group PLC.), which all fell between 4.4 percent to 7.6 percent.

While it is still early days for the European second quarter earnings season as only 20 percent of firms have given updates, more than half of those firms have beaten analysts' expectations, according to Thomson Reuters data.

The Paris-listed shares of TechnipFMC <FTI.PA> were the biggest fallers, slumping around 7.5 percent after the oil services firm said that it had overstated its first-quarter earnings.

European deal-making also rolled on with U.S. retailer Michael Kors (>> Michael Kors Holdings Ltd) agreeing to buy luxury shoemaker Jimmy Choo (>> Jimmy Choo PLC) for $1.2 billion, sending Jimmy Choo's shares up 17 percent to an all-time high.

(Reporting by Kit Rees; Editing by Helen Reid and Alison Williams)

By Kit Rees


ę Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
AKZO NOBEL N.V. 0.78% 97.72 Real-time Quote.11.22%
AMS AG 4.57% 17.145 Delayed Quote.-16.45%
CAPRI HOLDINGS LIMITED 4.71% 66.69 Delayed Quote.51.64%
CEMBRA MONEY BANK AG 2.23% 66.4 Delayed Quote.-41.18%
DOMINO'S PIZZA GROUP PLC -1.90% 361.6 Delayed Quote.16.65%
INFORMA PLC 3.59% 496.9 Delayed Quote.-9.49%
LETS HOLDINGS GROUP CO., LTD. 1.19% 6.78 End-of-day quote.-12.85%
LOGITECH INTERNATIONAL S.A. 4.42% 75.16 Delayed Quote.-17.23%
LOOK HOLDINGS INCORPORATED 5.53% 1374 End-of-day quote.43.57%
NEXT PLC 2.44% 8380 Delayed Quote.18.26%
RANDSTAD N.V. 1.62% 59.06 Real-time Quote.10.93%
STOXX EUROPE 600 2.45% 480.18 Delayed Quote.17.46%
TECHNIPFMC PLC 3.08% 6.36 Delayed Quote.-34.36%
UPM-KYMMENE OYJ 3.49% 33.79 Delayed Quote.7.15%
All news about AKZO NOBEL N.V.
03:52aAKZO NOBEL N : AkzoNobel share buyback (November 29, 2021 – December 3, 2021)
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02:57aAKZO NOBEL NV : JP Morgan remains Neutral
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02:12aAKZO NOBEL N : AkzoNobel share buyback (November 29, 2021 – December 3, 2021)
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12/03AKZO NOBEL NV : Goldman Sachs reiterates its Buy rating
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11/30AKZO NOBEL N : AkzoNobel share buyback (November 22, 2021 – November 26, 2021)
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11/23AKZO NOBEL N : AkzoNobel share buyback (November 15, 2021 – November 19, 2021)
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11/23AKZO NOBEL N : AkzoNobel share buyback (November 15, 2021 – November 19, 2021)
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11/18AKZO NOBEL NV : Buy rating from Bernstein
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11/16AKZO NOBEL N : AkzoNobel share buyback (November 8, 2021 – November 12, 2021)
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11/12Akzo Nobel India Appoints New CFO
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Analyst Recommendations on AKZO NOBEL N.V.
More recommendations
Financials
Sales 2021 9 576 M 10 811 M 10 811 M
Net income 2021 752 M 849 M 849 M
Net Debt 2021 2 043 M 2 307 M 2 307 M
P/E ratio 2021 23,3x
Yield 2021 2,13%
Capitalization 17 824 M 20 036 M 20 123 M
EV / Sales 2021 2,07x
EV / Sales 2022 1,95x
Nbr of Employees 32 700
Free-Float 97,2%
Chart AKZO NOBEL N.V.
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Akzo Nobel N.V. Technical Analysis Chart | MarketScreener
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Technical analysis trends AKZO NOBEL N.V.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 97,72 €
Average target price 110,05 €
Spread / Average Target 12,6%
EPS Revisions
Managers and Directors
Thierry F. J. Vanlancker Chief Executive Officer
Maarten de Vries Chief Financial Officer
Nils Smedegaard Andersen Chairman-Supervisory Board
Byron Elmer Grote Deputy Chairman-Supervisory Board
Dick M. Sluimers Member-Supervisory Board
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ASIAN PAINTS LIMITED9.90%38 665
NIPPON PAINT HOLDINGS CO., LTD.-44.66%25 270
RPM INTERNATIONAL INC.3.02%12 379