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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  ABN AMRO Bank N.V.    ABN   NL0011540547

ABN AMRO BANK N.V.

(ABN)
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European shares recover from seven-day losing streak

02/07/2018 | 12:27pm EST
Traders work at Frankfurt's stock exchange in Frankfurt

MILAN/LONDON (Reuters) - European shares broke a seven-day losing streak on Wednesday as investors took heart from a recovery on Wall Street and reduced volatility, returning their focus to some upbeat company earnings.

All sectors in Europe were trading in positive territory, helping the pan-European STOXX 600 <.STOXX> index rise 2.1 percent at the close.

It marked its best gains since Emmanuel Macron clinched the French presidency in April last year. On Tuesday, the index had suffered its worst fall since the Brexit vote in 2016.

The index was still down 2.2 percent year-to-date, however, after the global equity rout. The gauge of European stocks volatility <.V2TX> fell back nearly 30 percent to 21.4, having had its biggest ever surge on Tuesday.

Traders said further turbulence could not be ruled out, though, as volatility remained high in the wake of historic stock market declines caused by worries about inflation.

"It remains too early for the moment to suggest that this might be the end to this particular bout of weakness," said Michael Hewson, chief market analyst at CMC Markets UK.

A number of well-received company updates provided support to the index.

Hexagon (>> Hexagon) soared 10.8 percent to lead gainers on the STOXX after the Swedish industrial technology company reported fourth-quarter core earnings ahead of analyst forecasts.

Statoil (>> Statoil) gained 4.6 percent. The Norwegian oil producer said it would raise its dividend after beating fourth-quarter earnings forecasts, helped by higher oil prices.

"We see this as a decent set of numbers with some positive commentary on the growth portfolio, as well as guidance on significant FCF (free cash flow) to come through," said analysts at RBC Capital Markets.

Among country benchmarks, Britain's FTSE 100 <.FTSE> gained 1.9 percent, while Germany's DAX <.GDAXI> rose 1.6 percent. The German index showed little reaction to German Chancellor Angela Merkel's Conservatives securing a coalition deal with the Social Democrats.

"It's not a big thing for the equity markets," said Sebastian Raedler, head of European equity strategy at Deutsche Bank, adding that unlike other elections, such as Macron’s victory in France last year, there was not much negative political risk to price out of German equities.

"It’s a secondary story" after the brutal sell-off shaking Wall Street on Monday, Raedler added.

Miner Rio Tinto's (>> Rio Tinto) shares edged up 0.9 percent, paring back earlier gains as its record dividend failed to impress investors.

Delivery Hero (>> Delivery Hero) jumped 4.9 percent after strong results and insurer Hannover Re (>> Hannover Rückversicherung) closed up 2.2 percent after upping its profit guidance.

Some firm's disappointed, with ABN Amro (>> ABN AMRO Group) falling 3.4 percent. The Dutch bank beat analyst expectations with a 63 percent jump in fourth-quarter net profit, but some traders voiced concerns about cash returns, saying it was light on capital.

Enzyme maker Novozymes (>> Novozymes A/S) and brewer Carlsberg (>> Carlsberg) also fell sharply, down 4.6 percent and 3.6 percent respectively, following their updates.

Orion (>> Orion Oyj) shares sank 10.5 percent, the worst-performing on the STOXX, after the Finnish pharma company gave a disappointing revenue guidance.

According to Thomson Reuters data, 48.2 percent of STOXX 600 companies that have reported results so far exceeded earnings estimates. That's below the 50 percent beat seen in a typical quarter. Revenue beats at 57.3 percent however are above a typical quarter.

(To view a graphic on STOXX snaps seven-day losing streak, click http://reut.rs/2EnIguN)

(Reporting by Danilo Masoni and Helen Reid; Editing by Tom Pfeiffer and Edmund Blair)

By Danilo Masoni and Helen Reid


© Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
ABN AMRO BANK N.V. -1.81% 8.594 Real-time Quote.9.08%
AMP LIMITED -0.96% 1.55 End-of-day quote.-0.64%
BEST INC. -3.83% 2.01 Delayed Quote.-1.47%
CARLSBERG A/S -0.15% 939.4 Delayed Quote.-3.47%
DAX 0.25% 13884.88 Delayed Quote.0.94%
DELIVERY HERO SE -0.54% 129.4 Delayed Quote.2.40%
EQUINOR ASA 0.81% 168.5 Real-time Quote.15.21%
HANNOVER RÜCK SE 1.03% 137.3 Delayed Quote.4.22%
HEXAGON AB 0.35% 755 Delayed Quote.0.24%
JUST GROUP PLC -2.62% 74.4 Delayed Quote.9.30%
MSCI UNITED KINGDOM (STRD, UHD) -0.25% 1066.915 Real-time Quote.3.74%
NOVOZYMES A/S 3.49% 361.9 Delayed Quote.0.00%
ORION OYJ 0.28% 39.25 Delayed Quote.4.29%
RIO TINTO GROUP -1.44% 118.79 End-of-day quote.4.36%
RIO TINTO PLC -0.60% 5937.9 Delayed Quote.9.21%
SET 0.83% 1522.59 Real-time Quote.4.19%
STOXX EUROPE 600 0.08% 409.03 Delayed Quote.2.42%
TESCO PLC -0.45% 241.8 Delayed Quote.4.97%
THE LEAD CO., INC. -1.90% 826 End-of-day quote.-1.67%
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Financials
Sales 2020 7 939 M 9 625 M 9 625 M
Net income 2020 -341 M -414 M -414 M
Net Debt 2020 - - -
P/E ratio 2020 -30,5x
Yield 2020 0,25%
Capitalization 8 223 M 9 931 M 9 970 M
Capi. / Sales 2020 1,04x
Capi. / Sales 2021 1,09x
Nbr of Employees 18 952
Free-Float 46,9%
Chart ABN AMRO BANK N.V.
Duration : Period :
ABN AMRO Bank N.V. Technical Analysis Chart | ABN | NL0011540547 | MarketScreener
Technical analysis trends ABN AMRO BANK N.V.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 9,96 €
Last Close Price 8,75 €
Spread / Highest target 82,9%
Spread / Average Target 13,9%
Spread / Lowest Target -32,6%
EPS Revisions
Managers and Directors
NameTitle
Robert Swaak Chairman-Executive Board & Chief Executive Officer
Tom de Swaan Chairman-Supervisory Board
Clifford Abrahams Vice Chairman-Executive Board & CFO
Christian Bornfeld Chief Innovation & Technology Officer
Jurgen Stegmann Member-Supervisory Board
Sector and Competitors