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CDI - Christian Dior SE News Story

€618.5 0.0  0.0%

Last Trade - 10/05/21

Consumer Cyclicals
Large Cap
Market Cap £95.85bn
Enterprise Value £141.12bn
Revenue £38.35bn
Position in Universe 8th / 849

LIVE MARKETS-Opening snapshot: Luxury galore

Thu 10th October, 2019 8:32am
* European indices flat as investors brace for U.S.-China talks * Luxury shines after LVMH, Dior results * Cars, miners lead gains as defensives fall Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share your thoughts on market moves: OPENING SNAPSHOT: LUXURY GALORE (0727 GMT) Hopes of a potential truce in U.S.-China trade war and solid earnings from LVMH LVMH.PA are helping European stocks to stay positive, only just about, shrugging off worries from another set of poor economic data from Germany. Oh boy, LVMH's shares don't seem to be tired after running up all year (+45% YTD) and they're adding another $10 billion to their value today. The Louis Vuitton owner's shares are jumping 5% after its Q3 sales beat expectations despite Hong Kong unrest. The sentiment is boosting other luxury stocks in Europe with Richemont CFR.S , Swatch UHR.S , Kering PRTP.PA and Hermes HRMS.PA rising between 2% to 5%. Christian Dior DIOR.PA hit its highest since Sept. 16 after reporting results for the first nine months, also boosted by the LVMH results. While that's only one side of the story, Chr Hansen CHRH.CO , Philips PHG.AS , Novozymes NZYMb.CO , Mondi MNDI.L and Gerresheimer GXIG.DE shares are all bleeding after their poor updates. Macro weakness: food ingredient maker Chr. Hansen cites macro challenges for earnings miss; Philips cites trade war; Novozymes sees the U.S. bioethanol market downturn to continue. Trade-senstive sectors like cars and miners are top gainers, while defensives are underperforming suggesting that investors are in risk-on mood ahead of trade talks. (Thyagaraju Adinarayan) ***** ON OUR RADAR: LUXURY'S RESILIENCE, PHILIPS, MONDI, NOVOZYMES (0654 GMT) We're probably one headline away from a big bump or a slump in Europe as investors get ready to trade the trade as Beijing and Washington officials meet later today to try to end a bruising 15-month trade war. Futures point to a 0.2%-0.3% gain in European stocks. Paris stock futures are outperforming after Louis Vuitton owner LVMH's LVMH.PA solid Q3 print despite HK unrest. Upbeat results from LVMH is likely to trigger a rally as analysts were largely expecting luxury companies to take a major hit from political protests in HK. LVMH is seen rising 4%, while its rivals Richemont CFR.S , Swatch UHR.S , Kering PRTP.PA and Hermes HRMS.PA are seen up 2%, according to premarket indications from traders. Dutch health tech company Philips PHG.AS is seen falling 4% to 5% after it said trade tariffs and disappointing results at its Connected Care division would make it impossible to reach its target for profit margin improvement this year. In other earnings-based moves, UK packaging and paper company Mondi MNDI.L is seen down 3% to 5% after reporting slightly lower sales volumes; Novozymes NZYMb.CO is called -5% after profit warning; UK's plus-sized fashion retailer N Brown BWNG.L seen up 5% on H1 profit beat. Mondi flagged softening demand and this is likely to put pressure other packaging companies such as Smurfit Kappa SKG.I and DS Smith SMDS.L . Some more headlines: LafargeHolcim decides against bid for BASF unit- Bloomberg*:nL3N26U4K2 Hargreaves Lansdown assets up 3% on new business, market gains*:nFWN26U0PL Boeing's 787 under pressure as Russia's Aeroflot cancels order*:nL2N26U0Y7 Top-5 BHP investor Aberdeen Standard piles on climate pressure ahead of AGM*:nL5N26U3SH (Thyagaraju Adinarayan) ***** BRACE FOR SOME TRADE HEADLINE PING PONG (0621 GMT) Stock futures indicate a slightly higher open for Europe as jittery investors brace up for trade headlines that is likely to spark volatility. Beijing and Washington officials are meeting later today to try to end a bruising 15-month-old trade war. A London-based trader says be ready for some "headline ping pong". The impact of trade war has jolted the export-heavy German economy the most and August data showed exports fell by more than expected, reinforcing expectations that a manufacturing slump is pushing Europe's largest economy into recession. CAC stock futures is outperforming rest of Europe after solid Q3 results from LVMH. News that Louis Vuitton owner LVMH's LVMH.PA Q3 sales beat expectations despite unrest in Hong Kong is likely to boost shares of rivals Gucci-owner Kering PRTP.PA , Hermes HRMS.PA , Burberry BRBY.L and Swiss watchmakers Richemont CFR.S and Swatch UHR.S . Analysts were expecting luxury companies to take a major hit from political protests in HK. "We had anticipated a more marked deceleration from a very strong Q2," Jefferies says, adding that it was an "impressive beat". While LVMH bit the HK unrest bullet, Philips PHG.AS seems to be hit sharply by the trade war as the Dutch health technology company said tariffs and disappointing results at its Connected Care division would make it impossible to reach its target for profit margin improvement this year.*:nL5N26V0NE Some headlines to digest: German August export slump amplifies recession alarm*:nL5N26V11S Suedzucker 2nd quarter earnings fall after sugar price drop*:nL5N26V0LH LVMH shrugs off Hong Kong pain with Vuitton sales boom*:nL5N26U53P Philips to miss 2019 margin goal due to trade tariffs*:nL5N26V0NE Belgium's UCB to buy Ra Pharmaceuticals for $2.1 bln*:nL5N26V0NF Renault management shake-up on the cards - source*:nL5N26U1H6 (Thyagaraju Adinarayan and Joice Alves) ***** TRADE JITTERS KEEP MOOD SUBDUED (0530 GMT) European stocks are seen opening flat to slightly lower as a mix of positive and negative noise from Washington on U.S.-China trade negotiations keep investors on edge. The trade-sensitive German blue-chip index .GDAXI rallied 1% yesterday on report that China could agree to a partial trade deal with the U.S. despite the recent flare-up in tensions. "A mini deal with China would be favourable, but whether it is merely a detente (no new tariffs) or something slightly more substantial (rolling back some taxes) that's the big question for how intense the risk revival extends," Stephen Innes, Asia Pacific market strategist for Axitrader says. Financial spreadbetters IG expect London's FTSE to open 11 points lower at 7,155, Frankfurt's DAX to open 16 points lower at 12,078, and Paris' CAC to open 1 point higher at 5,500. Luxury stocks in focus today after Louis Vuitton owner LVMH LVMH.PA beat sales forecasts for the third quarter despite unrest in Hong Kong. LVMH's European peers are likely to benefit from the upbeat results. (Thyagaraju Adinarayan and Joice Alves) ***** <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ STocks earnings-stocks ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Danilo Masoni, Joice Alves, Josephine Mason, Julien Ponthus and Thyagaraju Adinarayan)
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