EssilorLuxottica SA logo

EL - EssilorLuxottica SA News Story

€140.14 -0.0  -0.0%

Last Trade - 4:35pm

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £52.73bn
Enterprise Value £55.78bn
Revenue £12.40bn
Position in Universe 18th / 850

LIVE MARKETS-On the radar: Hellofresh, Zalando, Grandvision

Tue 11th August, 2020 7:48am
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters
stocks reporters. You can share your thoughts with Joice Alves (joice.alves@thomsonreuters.com)
and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo
(stefano.rebaudo@thomsonreuters.com) in Milan.
    
    ON THE RADAR: HELLOFRESH, ZALANDO, GRANDVISION (0642 GMT)
    It will likely be a bright day for European stocks with futures up more than 1% on relief
that the latest quarrel between China and the U.S. didn't spill over into trade. 
    On the corporate front, a fresh batch of strong results is also helping the mood.
    German meal-kit delivery company HelloFresh  HFGG.DE , one of the COVID-19 winners, reported
a surge in its Q2 sales and profit, sending its shares up 7.9% in early trade.  urn:newsml:reuters.com:*:nL8N2FD0T4
    German online fashion retailer Zalando  ZALG.DE  also reported more than doubling of sales
on its site from brands seeking to expand their e-commerce presence, helping total Q2 revenue
jump 27%. Zalando's shares are up 3.5%.  urn:newsml:reuters.com:*:nL8N2FD0SX
    Basilea Pharmaceutica shares  BSLN.S  up 3.4% in premarket trade after first half operating
profit swung to a positive result from an operating loss last year.  urn:newsml:reuters.com:*:nL8N2FD0SX
    German utility Uniper's  UN01.DE  adjusted operating profit more than doubled in the first
half, mainly driven by its gas business and capacity market payments in Britain.  urn:newsml:reuters.com:*:nF9N28000L
    Aurubis  NAFG.DE , Europe's largest copper producer, confirmed its earnings forecast for its
current financial year and posted a rise in quarterly earnings.  urn:newsml:reuters.com:*:nFWN2FC18A
    Austria's Raiffeisen Bank International  RBIV.VI  posted a 44% slump in 2Q profit but stuck
to its forecasts.  urn:newsml:reuters.com:*:nL8N2FD0SA
    Auto stocks could also get a boost after China, the world's biggest vehicle market, reported
a surge in sales in July.  urn:newsml:reuters.com:*:nL4N2FD0E2
    In M&A, Ray-Ban maker EssilorLuxottica  ESLX.PA  said that its 7.2 billion euro takeover of
Dutch eyewear stores operator GrandVision's  GVNV.AS  is in doubt as EssiLux told a court that
GrandVision breached agreements by suspending payments to store owners and suppliers and by
applying for state aid, without seeking its approval.  urn:newsml:reuters.com:*:nL8N2FC461
    
    (Joice Alves and Stefano Rebaudo)
    *****
    
    
    MORNING CALL: READY FOR POSITIVE SURPRISES (0535 GMT)
    European shares are seen opening higher after Asian shares rose on relief that more
China-U.S. tensions didn't escalate into trade, and as investors hopes to be surprised by a
fresh round of economic data.
    Markets felt relief as China's sanctions on 11 U.S. citizens - a response to U.S. sanctions
on Chinese people over Beijing's crackdown in Hong Kong - seemed to shut off the latest round of
tit-for-tat moves. 
    Meantime, investors are awaiting a meeting between U.S. and Chinese officials on Saturday to
review the first six months of the Phase 1 trade deal.
    The positive mood in Europe is also helped by a set of data that will be released this
morning, including the UK unemployment rate and Germany's economic sentiment, with investors
hoping for positive surprises after the easing of lockdown measures. 
    Financial spreadbetters at IG expect London's FTSE to open 46 points higher at 6,097,
Frankfurt's DAX to open 108 points higher at 12,796 and Paris' CAC to open 42 points higher at
4,951.
    
    (Joice Alves)
    *****​
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.