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DEUTSCHE BÖRSE AG

(DB1)
  Report
Real-time Estimate Tradegate  -  02:14 2022-09-27 pm EDT
165.48 EUR   -0.26%
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Fasten your seatbelts for a bumpy ride, Euronext CEO warns

07/28/2022 | 11:47am EDT
FILE PHOTO: The coronavirus disease (COVID-19) outbreak, in Paris

LONDON (Reuters) - Investors should get ready for a bumpier ride as markets adjust to prolonged inflation, hefty interest rate rises and a fall in the euro to parity with the dollar, Euronext chief executive Stephane Boujnah said on Thursday.

Unavoidable volatility in share prices in months to come means that exchanges and their customers must remain agile to also cope with supply chain pressures and fallout from the war in Ukraine, Boujnah said.

The European Central Bank hiked rates by 50 basis points last week, with the U.S. Federal Reserve increasing rates by another 75 basis points on Wednesday. The Bank of England is set to raise rates next week, perhaps by as much as 50 basis points.

"Clearly ahead of us we have adjustments that are to come to price lasting inflation, increased interest rates, lasting geostrategic moves, and there will be some form of rotation in assets to transform these external shocks into investment decisions," Boujnah told Reuters.

Euronext, which runs stock exchanges in Paris, Dublin, Amsterdam, Lisbon, Brussels and Oslo, reported second quarter earnings on Thursday, with like-for-like revenue and income up 2.5% on the same quarter last year at 374.7 million euros.

The first savings from its takeover of the Milan Exchange Group totalled 24.1 million euros, a quarter of the 100 million euros savings forecast under the exchange's current strategic plan which runs to the end of 2024.

Shifting servers from Basildon near London to Bergamo in Italy due to Brexit contributed 8.9 million euros to savings. There are no changes to guidance on savings or costs, Boujnah said.

New listings on Euronext markets totalled 41 in January to June, down from 104 in the first half of 2021 due to market uncertainty, but still ahead of London Stock Exchange and Deutsche Boerse, Boujnah said.

"There are many companies that need liquidity and need to raise their own funds, but the question is the appetite of investors for equity risk at a time of strong volatility."

(Reporting by Huw Jones; Editing by Kirsten Donovan)

By Huw Jones


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) -0.41% 0.66982 Delayed Quote.5.58%
BRITISH POUND / EURO (GBP/EUR) -0.36% 1.1152 Delayed Quote.-6.34%
BRITISH POUND / US DOLLAR (GBP/USD) -0.77% 1.06899 Delayed Quote.-20.22%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.23% 0.759821 Delayed Quote.9.18%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.19% 0.7276 Delayed Quote.-6.95%
DEUTSCHE BÖRSE AG 0.33% 166.45 Delayed Quote.12.78%
EURO / BRITISH POUND (EUR/GBP) 0.40% 0.89662 Delayed Quote.6.80%
EURO / US DOLLAR (EUR/USD) -0.37% 0.95851 Delayed Quote.-15.39%
EURONEXT N.V. 1.22% 64.56 Real-time Quote.-30.10%
INDIAN RUPEE / EURO (INR/EUR) 0.37% 0.012793 Delayed Quote.7.61%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.02% 0.01225 Delayed Quote.-8.35%
LONDON STOCK EXCHANGE PLC -0.16% 7622 Delayed Quote.10.16%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.65% 0.563 Delayed Quote.-16.03%
US DOLLAR / EURO (USD/EUR) 0.39% 1.043308 Delayed Quote.17.39%
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Financials
Sales 2022 4 101 M 3 956 M 3 956 M
Net income 2022 1 434 M 1 383 M 1 383 M
Net Debt 2022 2 284 M 2 203 M 2 203 M
P/E ratio 2022 21,3x
Yield 2022 2,24%
Capitalization 30 463 M 29 241 M 29 387 M
EV / Sales 2022 7,99x
EV / Sales 2023 7,29x
Nbr of Employees 10 620
Free-Float 96,6%
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Number of Analysts 19
Last Close Price 165,90 €
Average target price 190,76 €
Spread / Average Target 15,0%
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Managers and Directors
Theodor Weimer Chief Executive Officer
Gregor Pottmeyer Chief Financial Officer
Martin Jetter Chairman-Supervisory Board
Christoph Böhm Chief Operating & Information Officer
Mareike Sich Head-Financial, Corporate & IT
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