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    AKZA   NL0013267909

AKZO NOBEL N.V.

(AKZA)
  Report
Real-time Quote. Real-time Euronext Amsterdam - 07/23 11:35:05 am
102.7 EUR   +1.08%
07/23AKZO NOBEL NV : Buy rating from Goldman Sachs
MD
07/22AKZO NOBEL NV : UBS reiterates its Neutral rating
MD
07/22AKZO NOBEL NV : Bernstein maintains a Buy rating
MD
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

European shares turn positive after ECB statement, Akzo soars

03/09/2017 | 12:33pm EDT
Traders work at their desks in front of the German share price index DAX board in Frankfurt

MILAN/LONDON (Reuters) - European shares made slight gains on Thursday, as banking stocks rallied after the European Central Bank struck a more optimistic tone on the economy, outweighing losses by oil stocks and some disappointing company updates.

The pan-European STOXX 600 <.STOXX> closed up 0.1 percent, with the banking sector leading gains after ECB chief Mario Draghi said there was no longer a sense of urgency about propping up the eurozone economy.

While the central bank said it would keep its stimulus in place until the end of the year, it removed from its statement a reference to using all available instruments to support growth and inflation - a move well-received by markets.

Bund yields hit a one-month high and the euro rose sharply during Draghi's press conference.

European banks <.SX7P> erased earlier losses to end up 1.1 percent, while the euro zone banks index <.SX7E> closed up 2.2 percent, on the higher bond yields and Draghi's optimism about the economy.

Akzo Nobel (>> Akzo Nobel) rose 13 percent to its highest level in nearly two years, leading gains on the pan-European index, after the paint maker rejected a 21 billion euro bid from US rival PPG (>> PPG Industries, Inc.).

The Dutch group said PPG's offer undervalued the company but added it would instead look at floating or selling its speciality chemicals business.

Jauke de Jong, analyst at AFS Group in Amsterdam, said a successful takeover by PPG was highly unlikely as he expected antitrust authorities to oppose a deal between the world's two largest paint and coating companies.

"It's unlikely that PPG will come back with an improved offer," he said. "The decision to sell its Specialty Chemicals business gives Akzo Nobel a lot of firepower to possibly be more aggressive in acquisitions itself in the currently consolidating industry."

News about the offer for Akzo added to a surge in European deal-making activity that has helped power the recent stock market rally along with strong economic data and a good earnings season.

French publisher Lagardere (>> Lagardère) was the second-best performer, up 10.3 percent, chalking up its best daily gains in more than eight years, after a top-ranked Barclays analyst raised his rating on the stock, citing cash flow achievement.

The heaviest STOXX faller was Domino's Pizza (>> Domino's Pizza Group PLC.), down 13.2 percent after disappointing results.

It was followed by Britain's fourth biggest supermarket Morrisons (>> WM Morrison Supermarkets PLC), which gave a cautious outlook, and French retailer Carrefour (>> Carrefour), which reported a lower than expected operating profit.

Basic resource and energy stocks were the biggest drag after crude oil prices plunged to below $50 a barrel, their lowest level this year, on record U.S. crude inventories.

Tullow Oil (>> Tullow Oil plc) was down 7.4 percent, one of the biggest drags on the European index. Britain's FTSE <.FTSE> had its sixth day of losses, weighed by commodity stocks.

A well-received update from Aviva (>> Aviva plc) lifted its stocks 6.5 percent to their highest level since April 2015.

The British insurer generated forecast-beating annual profit, boosted by growth in general insurance and asset management, and said more of its growing cash pile would be handed back to shareholders in 2017.

(Reporting by Danilo Masoni, Helen Reid; Editing by Toby Davis and Hugh Lawson)

By Danilo Masoni and Helen Reid


© Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
AKZO NOBEL N.V. 1.08% 102.7 Real-time Quote.16.89%
AVIVA PLC -0.54% 385.2 Delayed Quote.18.45%
BEST INC. -7.32% 1.14 Delayed Quote.-44.12%
CARREFOUR 1.14% 15.945 Real-time Quote.13.65%
DOMINO'S PIZZA GROUP PLC 2.25% 417.6 Delayed Quote.32.15%
LAGARDÈRE S.A. 0.19% 21.08 Real-time Quote.2.93%
NEXT PLC 0.85% 8092 Delayed Quote.14.20%
PPG INDUSTRIES, INC. 1.51% 162.92 Delayed Quote.12.97%
STOXX EUROPE 600 1.09% 461.51 Delayed Quote.15.66%
TULLOW OIL PLC 0.46% 46.28 Delayed Quote.56.46%
WM MORRISON SUPERMARKETS PLC -0.52% 266.5 Delayed Quote.50.27%
All news about AKZO NOBEL N.V.
07/23AKZO NOBEL NV : Buy rating from Goldman Sachs
MD
07/22AKZO NOBEL NV : UBS reiterates its Neutral rating
MD
07/22AKZO NOBEL NV : Bernstein maintains a Buy rating
MD
07/22AKZO NOBEL NV : JP Morgan remains Neutral
MD
07/22AKZO NOBEL N : AkzoNobel sets pioneering carbon reduction target to help tackle ..
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07/21AKZO NOBEL N : AkzoNobel grows revenue 26% and delivers €335 million adjusted op..
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07/21AKZO NOBEL NV : Jefferies maintains a Buy rating
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07/21AKZO NOBEL NV : JP Morgan sticks Neutral
MD
07/21Tranche Update on Akzo Nobel N.V.'s Equity Buyback Plan announced on February..
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More news
Financials
Sales 2021 9 571 M 11 264 M 11 264 M
Net income 2021 834 M 982 M 982 M
Net Debt 2021 1 981 M 2 331 M 2 331 M
P/E ratio 2021 22,2x
Yield 2021 2,05%
Capitalization 18 717 M 22 018 M 22 027 M
EV / Sales 2021 2,16x
EV / Sales 2022 2,06x
Nbr of Employees 32 800
Free-Float 96,6%
Chart AKZO NOBEL N.V.
Duration : Period :
Akzo Nobel N.V. Technical Analysis Chart | AKZA | NL0013267909 | MarketScreener
Technical analysis trends AKZO NOBEL N.V.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 102,70 €
Average target price 112,86 €
Spread / Average Target 9,89%
EPS Revisions
Managers and Directors
Thierry F. J. Vanlancker Chief Executive Officer
Maarten de Vries Chief Financial Officer
Nils Smedegaard Andersen Chairman-Supervisory Board
Byron Elmer Grote Deputy Chairman-Supervisory Board
Dick M. Sluimers Member-Supervisory Board
Sector and Competitors
1st jan.Capi. (M$)
AKZO NOBEL N.V.16.89%23 807
THE SHERWIN-WILLIAMS COMPANY14.93%72 596
PPG INDUSTRIES, INC.12.97%39 644
ASIAN PAINTS LIMITED11.55%38 859
NIPPON PAINT HOLDINGS CO., LTD.-37.64%33 790
RPM INTERNATIONAL INC.-4.52%11 493