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OFFON

COMPAGNIE FINANCIÈRE RICHEMONT SA

(CFR)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 01/28 11:20:00 am
130.05 CHF   -1.03%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Dealmaking drives European stocks as equity melt-up continues

01/22/2018 | 12:16pm EST
A broker looks at his computer screen on the dealing floor at ICAP in London

LONDON (Reuters) - A flurry of merger activity among European stocks drove strong moves on Monday as regional indexes notched up new records, with investors shrugging off the U.S. government shutdown as a global stocks "melt-up" continued to grip European markets.

Euro zone stocks <.STOXXE> gained 0.3 percent to hit a fresh 10-year high, and the pan-European STOXX 600 <.STOXX> index recovered from early losses to trade up 0.3 percent.

Spain's IBEX <.IBEX>, which had been held back by instability in Catalonia, hit its highest since August, up 1 percent after a ratings upgrade from Fitch that also sent the country's borrowing costs down to six-week lows.

Spain's Santander bank (>> Banco Santander) was the biggest single boost to the STOXX 600, leading a rally among financials.

While strong banking and oil stocks underpinned the market, merger and acquisition news across telecoms, pharmaceuticals and luxury sectors drove the lion's share of big stock moves.

Orange (>> Orange) and Deutsche Telekom (>> Deutsche Telekom) rose 2.1 percent each after a report in French daily Le Monde said the two companies had held merger talks last year.

"This could boost M&A expectations in Europe," said AFS Group analyst Jauke de Jong in Amsterdam. The telecoms sector has lagged the market for months, but hopes of dealmaking drew investors in, sending the index <.SXKP> up 1.4 percent.

French drugmaker Sanofi (>> Sanofi) fell 2.9 percent after the company announced an $11.6 billion takeover of U.S. haemophilia treatment specialist Bioverativ (>> Bioverativ Inc), with some traders saying the deal looked expensive.

Kepler Cheuvreux analysts said the deal raised a "host of questions" and wondered whether Bioverativ’s pipeline could offset pressure from a rival Roche treatment.

Swedish firm Sobi (>> Swedish Orphan Biovitrum), a partner to Bioverativ, soared 16.5 percent.

Cartier owner Richemont's (>> Compagnie Financière Richemont) offer for full control of online luxury retailer Yoox Net-a-Porter (>> Yoox Net-A-Porter Group) sent the Italian stock surging 24 percent to a record high.

"Given the lack of interesting acquisition targets up for sale in their core business of hard luxury, Richemont has decided to put at work its big cash pile investing into distribution channels," wrote Bernstein analysts.

Richemont shares closed down 1.6 percent as investors digested the up-to-2.8 billion euro (2.47 billion pounds) offer, a nearly 26 percent premium over YNAP's closing price on Friday.

UBS (>> UBS Group), Switzerland's biggest bank, recovered after an early fall when it reported a quarterly loss, driven by a large writedown on the U.S. tax reforms. UBS still boosted its dividends and announced a new share buyback programme, and the stock was up 0.4 percent at the close.

Retailers <.SXRP> performed well thanks to a 27.5 percent jump from UK online grocer Ocado (>> Ocado Group PLC) after it signed an agreement with Sobeys <SOBEF.UL> to develop the online grocery business at Canada's second-largest food retailer.

Germany-listed shares in South African retailer Steinhoff <SNHG.DE> (>> Steinhoff Africa Retail Ltd) rose more than 11 percent after the firm sold its 13.5 percent stake in investment firm PSG Group for 7.1 billion rand as it scrambled to plug a liquidity hole.

(Reporting by Julien Ponthus; Editing by Tom Pfeiffer and Kevin Liffey)

By Julien Ponthus and Helen Reid


© Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
BANCO SANTANDER, S.A. -2.30% 3.1285 Delayed Quote.8.88%
COMPAGNIE FINANCIÈRE RICHEMONT SA -1.26% 129.75 Delayed Quote.-4.05%
DEUTSCHE TELEKOM AG -0.57% 16.63 Delayed Quote.2.59%
DOW JONES AFRICA TITANS 50 INDEX -0.84% 527.39 Delayed Quote.-1.01%
HEXAGON AB -0.66% 119.95 Delayed Quote.-15.98%
IBEX 35 -1.35% 8591.6 Delayed Quote.-0.09%
JUST GROUP PLC -1.97% 86.95 Delayed Quote.6.10%
NEXT PLC 1.75% 7562 Delayed Quote.-8.86%
OCADO GROUP PLC -7.63% 1440 Delayed Quote.-7.03%
ORANGE 1.30% 10.458 Real-time Quote.9.70%
S&P AFRICA 40 INDEX -1.02% 171.71 Delayed Quote.0.13%
SANOFI -0.93% 94 Real-time Quote.7.12%
STOXX EUROPE 600 -1.37% 464.15 Delayed Quote.-3.58%
SWEDISH ORPHAN BIOVITRUM AB (PUBL) 0.36% 180.35 Delayed Quote.-3.00%
UBS GROUP AG -2.32% 16.83 Delayed Quote.4.84%
All news about COMPAGNIE FINANCIÈRE RICHEMONT SA
01/26Pandemic-fuelled lust for labels augurs well for LVMH
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01/25Swatch Group returns to profit, sees strong sales ahead
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01/24RICHEMONT : Bernstein maintains a Buy rating
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01/21RICHEMONT : Deutsche Bank gives a Buy rating
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01/21RICHEMONT : Gets a Buy rating from Barclays
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01/20RICHEMONT : Kepler Cheuvreux reaffirms its Buy rating
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01/20MARKETSCREENER’S WORLD PRESS REVIEW : January 20, 2022
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Analyst Recommendations on COMPAGNIE FINANCIÈRE RICHEMONT SA
More recommendations
Financials
Sales 2022 18 626 M 20 768 M 20 768 M
Net income 2022 2 810 M 3 133 M 3 133 M
Net Debt 2022 642 M 716 M 716 M
P/E ratio 2022 25,8x
Yield 2022 1,75%
Capitalization 72 311 M 80 624 M 80 627 M
EV / Sales 2022 3,92x
EV / Sales 2023 3,54x
Nbr of Employees 34 760
Free-Float -
Chart COMPAGNIE FINANCIÈRE RICHEMONT SA
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Compagnie Financière Richemont SA Technical Analysis Chart | CFR | CH0210483332 | MarketScreener
Technical analysis trends COMPAGNIE FINANCIÈRE RICHEMONT SA
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 126,58 €
Average target price 153,63 €
Spread / Average Target 21,4%
EPS Revisions
Managers and Directors
Jérôme Lambert Group Chief Executive Officer & Executive Director
Burkhart Grund Group Chief Finance Officer & Executive Director
Johann Peter Rupert Executive Chairman
Ruggero Magnoni Independent Non-Executive Director
Guillaume Pictet Independent Non-Executive Director