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    AAL   GB00B1XZS820

ANGLO AMERICAN PLC

(AAL)
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Cyclicals and ex-divs send European shares to four-month low

08/10/2017 | 12:22pm EDT
Traders work in front of the German share price index, DAX board, at the stock exchange in Frankfurt

LONDON (Reuters) - European shares dropped to their lowest level since late March on Thursday as cyclicals fell and some big stocks went ex-dividend, overshadowing a number of upbeat earnings reports.

The pan-European STOXX 600 <.STOXX> index ended down 1 percent at 376.05, after touching 375.42, its lowest level since March 28 as basic resources <.SXPP> and banks <.SX7P> fell. Euro zone blue chips <.STOXX50E> slipped 1.1 percent.

In London, the FTSE 100 <.FTSE> lost 1.4 percent as large caps Anglo American (>> Anglo American), BT Group (>> BT Group), Rio Tinto (>> Rio Tinto) and Lloyds (>> Lloyds Banking Group) fell after going ex-dividend, while Germany's DAX <.GDAXI> retreated 1.2 percent.

Company results were back in focus after rising political tensions between the United States and North Korea hit risky assets globally on Wednesday.

Shares gaining ground included insurer Aegon (>> Aegon) and soft drinks bottler Coca Cola HBC (>> Coca Cola HBC AG), which rose 5.3 percent and 9.2 percent respectively after their updates.

Aegon beat expectations for its second quarter underlying pretax profit, while Coca Cola HBC shares hit a record level after first half sales were higher than expected.

"Aegon released a very strong set of Q2 results marked by a significant increase in the group SII ratio, strong underlying earnings and an improved outlook for capital generation," analysts at KBC Securities said in a note.

Telecoms company SFR (>> SFR Group) jumped 9.2 percent after Altice (>> Altice) raised its stake in the firm to more than 95 percent and said it was planning a full buyout offer for the remaining shares.

Second-quarter results, however, put pressure on shares in staffing firm Adecco (>> Adecco Group), chemicals company Lanxess (>> Lanxess) and consumer group Henkel (>> Henkel), which were among the biggest fallers.

Around 80 percent of MSCI Europe firms have reported second quarter earnings so far, of which more than 60 percent have either met or beaten analysts' expectations, according to Thomson Reuters data.

Financials and the energy and materials sectors have seen the most beats, while industrials have had the most misses.

"Broadly in Europe, I had thought that (earnings) wouldn't be as good, partly because the strength of the euro would make (firms') export markets less attractive and earnings would be more impinged by that, but it doesn't so far seem to be the case," said James Butterfill, head of research and investment strategy at ETF Securities.

Societe Generale analysts said the relationship between the euro and euro zone stocks had flipped (see chart below).

"In the first part of the year, both the euro and euro zone equity markets were up, as the two assets were driven by a stronger economic outlook for the euro area," they said in a note.

"Since mid-May, the correlation has changed: the euro strengthening has become a headwind for the Eurostoxx index."

Shares in Belgian biotech firm Galapagos (>> Galapagos) were among top risers on the STOXX index, surging 8 percent after a successful mid-stage study for the firm's lung fibrosis drug.

(Reporting by Kit Rees and Helen Reid; editing by Alexander Smith and Susan Fenton)

By Kit Rees and Helen Reid


ę Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
ADECCO GROUP AG -0.06% 48.37 Delayed Quote.-18.19%
AEGON N.V. 2.47% 4.277 Real-time Quote.29.03%
AMP LIMITED 0.00% 0.985 End-of-day quote.-36.86%
ANGLO AMERICAN PLC -0.35% 2589 Delayed Quote.7.16%
BT GROUP PLC 2.62% 162.6 Delayed Quote.19.81%
COCA-COLA HBC AG -0.41% 2459 Delayed Quote.3.87%
DAX 0.27% 15573.88 Delayed Quote.13.22%
EURO STOXX 50 0.17% 4165.48 Delayed Quote.17.05%
FTSE 100 0.17% 7063.4 Delayed Quote.9.15%
GALAPAGOS NV 2.66% 46.74 Real-time Quote.-43.43%
HENKEL AG & CO. KGAA 2.12% 80.96 Delayed Quote.-14.11%
LANXESS AG -0.23% 60.58 Delayed Quote.-3.25%
LLOYDS BANKING GROUP PLC 0.90% 45.84 Delayed Quote.24.67%
MSCI EUROPE (STRD, UHD) -0.87% 153.054102 Real-time Quote.15.87%
MSCI UNITED KINGDOM (STRD) -0.84% 1125.261 Real-time Quote.9.14%
RIO TINTO GROUP 1.15% 100.47 End-of-day quote.-11.74%
RIO TINTO PLC -0.57% 4803 Delayed Quote.-11.69%
S&P UNITED KINGDOM (PDS) 0.22% 1404.67 Delayed Quote.9.44%
SET -0.68% 1620.02 Real-time Quote.12.54%
STOXX EUROPE 600 -0.19% 462.42 Delayed Quote.16.10%
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Analyst Recommendations on ANGLO AMERICAN PLC
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Financials (USD)
Sales 2021 42 518 M - -
Net income 2021 9 301 M - -
Net Debt 2021 3 390 M - -
P/E ratio 2021 5,02x
Yield 2021 12,4%
Capitalization 43 747 M 43 873 M -
EV / Sales 2021 1,11x
EV / Sales 2022 1,21x
Nbr of Employees 95 000
Free-Float 93,8%
Chart ANGLO AMERICAN PLC
Duration : Period :
Anglo American plc Technical Analysis Chart | AAL | GB00B1XZS820 | MarketScreener
Technical analysis trends ANGLO AMERICAN PLC
Short TermMid-TermLong Term
TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 35,51 $
Average target price 46,88 $
Spread / Average Target 32,0%
EPS Revisions
Managers and Directors
Mark Cutifani Chief Executive Officer & Executive Director
Stephen Thomas Pearce Finance Director & Executive Director
Stuart John Chambers Chairman
Anthony Martin O'Neill Executive Director & Group Technical Director
Anne L. Stevens Independent Non-Executive Director
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