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COMPAGNIE FINANCIÈRE RICHEMONT SA

(CFR)
  Report
Real-time Estimate Cboe Europe  -  10:28 2022-09-27 am EDT
96.98 CHF   +0.43%
06:41aRICHEMONT : Gets a Neutral rating from Bernstein
MD
09/23RICHEMONT : Gets a Buy rating from Goldman Sachs
MD
09/22SBG Securities Lowers Price Target on CIE Financiere Richemo, Maintains Buy Recommendation
MT
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Dealmaking drives European stocks as equity melt-up continues

01/22/2018 | 12:16pm EDT
A broker looks at his computer screen on the dealing floor at ICAP in London

LONDON (Reuters) - A flurry of merger activity among European stocks drove strong moves on Monday as regional indexes notched up new records, with investors shrugging off the U.S. government shutdown as a global stocks "melt-up" continued to grip European markets.

Euro zone stocks <.STOXXE> gained 0.3 percent to hit a fresh 10-year high, and the pan-European STOXX 600 <.STOXX> index recovered from early losses to trade up 0.3 percent.

Spain's IBEX <.IBEX>, which had been held back by instability in Catalonia, hit its highest since August, up 1 percent after a ratings upgrade from Fitch that also sent the country's borrowing costs down to six-week lows.

Spain's Santander bank (>> Banco Santander) was the biggest single boost to the STOXX 600, leading a rally among financials.

While strong banking and oil stocks underpinned the market, merger and acquisition news across telecoms, pharmaceuticals and luxury sectors drove the lion's share of big stock moves.

Orange (>> Orange) and Deutsche Telekom (>> Deutsche Telekom) rose 2.1 percent each after a report in French daily Le Monde said the two companies had held merger talks last year.

"This could boost M&A expectations in Europe," said AFS Group analyst Jauke de Jong in Amsterdam. The telecoms sector has lagged the market for months, but hopes of dealmaking drew investors in, sending the index <.SXKP> up 1.4 percent.

French drugmaker Sanofi (>> Sanofi) fell 2.9 percent after the company announced an $11.6 billion takeover of U.S. haemophilia treatment specialist Bioverativ (>> Bioverativ Inc), with some traders saying the deal looked expensive.

Kepler Cheuvreux analysts said the deal raised a "host of questions" and wondered whether Bioverativ’s pipeline could offset pressure from a rival Roche treatment.

Swedish firm Sobi (>> Swedish Orphan Biovitrum), a partner to Bioverativ, soared 16.5 percent.

Cartier owner Richemont's (>> Compagnie Financière Richemont) offer for full control of online luxury retailer Yoox Net-a-Porter (>> Yoox Net-A-Porter Group) sent the Italian stock surging 24 percent to a record high.

"Given the lack of interesting acquisition targets up for sale in their core business of hard luxury, Richemont has decided to put at work its big cash pile investing into distribution channels," wrote Bernstein analysts.

Richemont shares closed down 1.6 percent as investors digested the up-to-2.8 billion euro (2.47 billion pounds) offer, a nearly 26 percent premium over YNAP's closing price on Friday.

UBS (>> UBS Group), Switzerland's biggest bank, recovered after an early fall when it reported a quarterly loss, driven by a large writedown on the U.S. tax reforms. UBS still boosted its dividends and announced a new share buyback programme, and the stock was up 0.4 percent at the close.

Retailers <.SXRP> performed well thanks to a 27.5 percent jump from UK online grocer Ocado (>> Ocado Group PLC) after it signed an agreement with Sobeys <SOBEF.UL> to develop the online grocery business at Canada's second-largest food retailer.

Germany-listed shares in South African retailer Steinhoff <SNHG.DE> (>> Steinhoff Africa Retail Ltd) rose more than 11 percent after the firm sold its 13.5 percent stake in investment firm PSG Group for 7.1 billion rand as it scrambled to plug a liquidity hole.

(Reporting by Julien Ponthus; Editing by Tom Pfeiffer and Kevin Liffey)

By Julien Ponthus and Helen Reid


© Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
BANCO SANTANDER, S.A. -2.54% 2.4375 Delayed Quote.-15.10%
COMPAGNIE FINANCIÈRE RICHEMONT SA 0.52% 97.04 Delayed Quote.-29.49%
DEUTSCHE TELEKOM AG 0.25% 17.892 Delayed Quote.9.41%
DOW JONES AFRICA TITANS 50 INDEX 0.64% 397.46 Real-time Quote.-25.22%
IBEX 35 -0.74% 7455.9 Delayed Quote.-13.83%
OCADO GROUP PLC -2.01% 545.2 Delayed Quote.-66.85%
ORANGE -0.06% 9.57 Real-time Quote.1.71%
S&P AFRICA 40 INDEX 0.90% 128.01 Real-time Quote.-25.84%
SANOFI 0.26% 77.63 Real-time Quote.-12.58%
STOXX EUROPE 600 (EUR) 0.24% 389.53 Delayed Quote.-20.31%
SWEDISH ORPHAN BIOVITRUM AB (PUBL) 2.17% 207.4 Delayed Quote.9.45%
UBS GROUP AG -0.72% 14.525 Delayed Quote.-10.84%
All news about COMPAGNIE FINANCIÈRE RICHEMONT SA
06:41aRICHEMONT : Gets a Neutral rating from Bernstein
MD
09/23RICHEMONT : Gets a Buy rating from Goldman Sachs
MD
09/22SBG Securities Lowers Price Target on CIE Financiere Richemo, Maintains Buy Recommendat..
MT
09/21CIC Market Solutions Lowers Price Target on CIE Financiere Richemo, Maintains Buy Recom..
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09/20RICHEMONT : JP Morgan reiterates its Buy rating
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Analyst Recommendations on COMPAGNIE FINANCIÈRE RICHEMONT SA
More recommendations
Financials
Sales 2023 21 172 M 20 424 M 20 424 M
Net income 2023 2 997 M 2 891 M 2 891 M
Net cash 2023 1 691 M 1 631 M 1 631 M
P/E ratio 2023 18,5x
Yield 2023 2,58%
Capitalization 57 656 M 55 621 M 55 621 M
EV / Sales 2023 2,64x
EV / Sales 2024 2,37x
Nbr of Employees 35 853
Free-Float 89,2%
Chart COMPAGNIE FINANCIÈRE RICHEMONT SA
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Compagnie Financière Richemont SA Technical Analysis Chart | MarketScreener
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Technical analysis trends COMPAGNIE FINANCIÈRE RICHEMONT SA
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Last Close Price 100,96 €
Average target price 136,47 €
Spread / Average Target 35,2%
EPS Revisions
Managers and Directors
Jérôme Lambert Group Chief Executive Officer & Executive Director
Burkhart Grund Group Chief Finance Officer & Executive Director
Johann Peter Rupert Executive Chairman
Ruggero Magnoni Independent Non-Executive Director
Guillaume Pictet Independent Non-Executive Director