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    ASM   NL0000334118


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French stocks slip in flat European market as vote nears

04/21/2017 | 12:09pm EDT
The German share prize index (DAX) board is seen at the trading room of Frankfurt's stock exchange

LONDON (Reuters) - French blue-chip stocks underperformed other European benchmark indexes on Friday as investors retreated from risky bets ahead of the too-close-to-call first round of France's presidential election.

The CAC <.FCHI> fell 0.4 percent, while the pan-European STOXX <.STOXX> index added 0.1 percent. On the week they were down slightly but both indexes are less than 2 percent below their highest level this year hit last week.

"So far markets have been pretty sanguine in the face of the (French) presidential election, which was flagged as one of the potential banana skins for markets in this year," Hargreaves Lansdown senior analyst, Laith Khalaf, said.

"There may be a bit of political weariness among investors, but also they may just be thinking that, actually, they’re not going to place market bets based on political events, and that would be an entirely sensible strategy," he said.

Among French standout movers, Danone (>> Danone) was the biggest faller on the CAC 40, down 2.5 percent after reporting first-quarter sales figures.

French banks Societe Generale (>> Société Générale) and BNP Paribas (>> BNP Paribas) extended the previous session's gains, rising 1.7 percent and 2.2 percent respectively.

Banking stocks <.SX7P>, which are seen as benefiting from the victory of a mainstream candidate in the French vote, were the biggest sectoral gainers in Europe, up 0.7 percent, while basic resources stocks <.SXPP> ended flat after gaining initially on the back of slight gains in copper prices.

Earnings and deal-making drove stock price moves elsewhere, including a jump of 7.9 percent for Software AG (>> Software AG), making the shares the STOXX 600's top gainer, after reporting first-quarter results. Software's quarterly core profit declined less than expected.

Tech sector peer ASM International (>> ASM International) rose 3.7 percent after Natixis raised its target price.

Europe's earnings season kicks off in earnest next week with Credit Suisse (>> Credit Suisse Group AG), UBS (>> UBS Group AG) and SAP (>> SAP SE) among those reporting results.

European first quarter earnings are expected to increase 7.2 percent from the first quarter of 2016, according to Thomson Reuters I/B/E/S data. Excluding the energy sector, this would be a rise of 2.9 percent.

Engineering firm WS Atkins (>> WS Atkins PLC) gained 6.1 percent after Canada's SNC-Lavalin Group (>> Snc-Lavalin Group Inc) said it would buy the firm for C$3.6 billion, firming up this month's indicative offer.

Among other standouts, Orkla (>> Orkla ASA) fell 3.2 percent after going ex-dividend, while a downgrade from Panmure weighed on SSP Group's shares (>> SSP Group PLC).

Oil stocks <.SXEP> were a drag, falling 0.8 percent as crude prices retreated. [O/L]

(Additional reporting by Danilo Masoni; Editing by Jeremy Gaunt)

By Kit Rees

ę Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
ARCELORMITTAL -0.36% 28.73 Real-time Quote.52.83%
ASM INTERNATIONAL N.V. 1.29% 306.5 Real-time Quote.68.27%
BNP PARIBAS 0.04% 50.94 Real-time Quote.18.20%
CAC 40 0.58% 6711.85 Real-time Quote.20.26%
CREDIT SUISSE GROUP AG -0.06% 9.332 Delayed Quote.-18.11%
DANONE 0.66% 63.72 Real-time Quote.17.71%
E.ON SE -0.04% 10.44 Delayed Quote.15.25%
NEXT PLC -0.63% 7920 Delayed Quote.12.50%
NORSK HYDRO ASA -1.01% 58.98 Real-time Quote.49.47%
ORKLA ASA 0.60% 81.06 Real-time Quote.-7.31%
RIO TINTO PLC 0.27% 6231 Delayed Quote.13.64%
SAP SE 0.56% 121.9 Delayed Quote.13.13%
SNC-LAVALIN GROUP INC. -0.84% 32.93 Delayed Quote.52.78%
SOCIÉTÉ GÉNÉRALE 6.13% 26.36 Real-time Quote.46.08%
SSP GROUP PLC -1.83% 258.98 Delayed Quote.-3.95%
STOXX EUROPE 600 0.09% 464.67 Delayed Quote.16.39%
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Sales 2021 1 671 M 1 986 M 1 986 M
Net income 2021 445 M 529 M 529 M
Net cash 2021 562 M 668 M 668 M
P/E ratio 2021 33,7x
Yield 2021 0,78%
Capitalization 14 551 M 17 294 M 17 295 M
EV / Sales 2021 8,37x
EV / Sales 2022 7,20x
Nbr of Employees 2 583
Free-Float 89,3%
Duration : Period :
ASM International N.V. Technical Analysis Chart | ASM | NL0000334118 | MarketScreener
Technical analysis trends ASM INTERNATIONAL N.V.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 13
Last Close Price 302,80 €
Average target price 313,38 €
Spread / Average Target 3,50%
EPS Revisions
Managers and Directors
Gek Lim Loh President & Chief Executive Officer
Paul A. H. Verhagen Chief Financial Officer
Jan C. Lobbezoo Chairman-Supervisory Board
Martin C. J. van Pernis Vice Chairman-Supervisory Board
Stefanie Kahle-Galonske Independent Member-Supervisory Board