DAILY EUROPEAN EQUITY OPENING NEWS: Akzo Nobel (AKZA NA) and Axalta (AXTA) reportedly have abandoned merger discussions due to issues relating to the deal structure, according to reports

**EUROPEAN EQUITY COVERAGE WILL ONLY COVER COMPANIES IN THE STOXX 600 OR COMPANIES OF SYSTEMIC IMPORTANCE TO PARTICULAR SECTORS**
The Daily European Equity Opening News is uploaded at 0700GMT/0100CDT recapping all of the overnight equity news
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22 November 2017
ASIA
Asia equity markets were higher across the board as the regional bourses received a lift from their US counterparts, where tech outperformed and all major indices posted fresh record levels. ASX 200 (+0.4%) was led by energy names as crude prices extended on post-API gains after the latest inventory report showed the largest drawdown in 3 months, while Nikkei 225 (+0.6%) shrugged off a firmer currency and jumped aboard the tech-rally ahead of tomorrow’s market closure. Elsewhere, the Taiex (+0.4%) posted a 27-year high, while Hang Seng (+0.9%) rose to its highest in a decade above the 30,000 level after the PBoC upped its liquidity operations again, with blue-chip energy names also underpinned.

FTSE

LSE (LSE LN) – Sir Christopher Hohn of the Children’s Investment Fund (owns a 5% stake in the Co.) has urged the Governor of the Bank of England to step in and remove the exchange's chairman. (Telegraph)

BROKER RECOMMENDATION 

BUNZL (BNZL LN) UPGRADED TO BUY FROM HOLD AT HSBC

KINGFISHER (KGF LN) UPGRADED TO BUY FROM HOLD AT JEFFERIES

FERGURSON (FERG LN) UPGRADED TO BUY FROM HOLD AT HSBC

RECKIT BENCKISER (RB/ LN UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN


DAX

SAP (SAP GY) - Salesforce (CRM) Q3 Adj. EPS USD 0.39 vs. Exp. USD 0.37, revenue USD 2.68bln vs. Exp. USD 2.65bln. (Newswires) 

Fresenius (FRE GY) - Akorn (AKRX) says that the terms of the co deal has not changed. (Newswires) 

Uniper (UN01 GY) – Co. will cut around 2,000 of its 14,700 jobs by the end of 2018. (Newswires)

BROKER RECOMMENDATIONS

BASF (BAS GY) UPGRADED TO BUY FROM HOLD AT BERENBERG

RWE (RWE GY) UPGRADED TO BUY FROM NEUTRAL AT UBS

AXEL SPRINGER (SPR GY) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT BARCLAYS

CAC
Eiffage (FGR FP) – The co. sells its majority interest in 4 PPP educational projects for EUR 240mln. (Newswires) 

BROKER RECCOMENDATIONS

PAN-EUROPE

Akzo Nobel (AKZA NA) – Co. and Axalta (AXTA) reportedly have abandoned merger discussions due to issues relating to the deal structure, according to reports. (Newswires)

BROKER RECOMMENDATIONS

SMI 

BROKER RECOMMENDATION

ROCHE (ROG SW) UPGRADED TO BU FROM HOLD AT LIBERUM

SCANDINAVIA

BROKER RECOMMENDATIONS

ASSA ABLOY (ASSAB SS) UPGRADD TO BUY FROM NEUTRAL AT ODDO SECURITIES


US
US stock markets ground to fresh intraday highs, with the S&P closing up 0.66% at 2599.07, the Dow Jones Industrial Average rose 0.69% to 23,590.83 and the Nasdaq 100 rose 1.11% to 6,378.63.
 

22 Nov 2017 - 06:48- EnergyResearch Sheet- Source: Newswires

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