DEALERS' EARLY CALL: 27.10.2020

The FTSE 100 is called to open 12 points higher at 5804. Global stocks and equity futures saw choppy trading Tuesday as investors weighed whether coronavirus cases will hurt the global economy and stimulus talks in Washington dragged on. The dollar retreated. U.S. futures edged higher with their European counterparts, while Asian stocks pared earlier losses. Shares were little changed in Japan and China, and slipped in South Korea, Australia and Hong Kong. Declines were more modest than those seen in the U.S. overnight, when the S&P 500 saw its biggest loss in a month. Ongoing spending talks in Washington continued to weigh on sentiment as prospects dimmed for fiscal aid before the presidential election. The 10-year Treasury yield dipped below 0.8%. Oil climbed with copper, while gold edged higher. Surging coronavirus infections around the globe are worrying investors already cautious with the U.S. election a week away and time running out to finish an aid package before then. Europe took a step closer to the strict rules imposed during the initial wave of the pandemic, with leaders struggling to regain control of the spread while confronting growing opposition to restrictions.

UPGRADES AND DOWNGRADES

  • Anglo American raised to buy at Liberum; PT 2,400 pence
  • Bankinter Raised to Buy at Grupo Santander; PT 4.50 euros
  • Capital raised to buy at Peel Hunt; PT 90 pence
  • Dios raised to hold at Handelsbanken; PT 65 kronor Endesa raised to neutral at Goldman; PT 26.50 euros
  • Epiroc Raised to Neutral at Credit Suisse; PT 130 kronor
  • Maersk raised to buy at ABG; PT 14,200 kroner
  • Mapfre raised to market perform at KBW; PT 1.90 euros
  • Orange raised to equal-weight at Morgan Stanley; PT 11.50 euros
  • PZU raised to buy at Citi
  • Santander Bank Polska raised to hold at SocGen; PT 140 zloty
  • Serviceware raised to buy at Commerzbank; PT 16 euros
  • Antofagasta cut to hold at Liberum; PT 870 pence
  • Aryzta cut to add at AlphaValue
  • Barry Callebaut cut to reduce at Baader Helvea
  • Flutter cut to sector perform at RBC; PT 12,500 pence
  • KAZ Minerals cut to hold at Liberum; PT 470 pence
  • Rio Tinto cut to sell at Liberum; PT 3,300 pence
  • SAP cut to inline at Evercore ISI; PT 112 euros
  • SAP Cut to Hold at Bankhaus Metzler; PT 105 euros
  • Signify cut to underweight at Morgan Stanley; PT 28 euros
  • Thule cut to sell at Handelsbanken; PT 300 kronor
  • Agronomics rated new buy at Cenkos Securities
  • Enad Global 7 rated new buy at Handelsbanken; PT 96 kronor
  • Mercantile Investment rated new buy at Investec
  • THG Holdings rated new buy at Goldman; PT 875 pence
  • THG Holdings rated new buy at Jefferies; PT 780 pence
  • THG Holdings rated new overweight at JPMorgan; PT 865.40 pence

COMPANY NEWS

  • AstraZeneca Vaccine Is Showing Promise — WSJ
  • Novartis Raises Forecast as Drugmaker Weathers Covid-19
  • HSBC Flags Conservative Return to Dividends on Profit Beat
  • Whitbread 1H Rev GBP250.8M
  • Santander Rebounds from Historic Loss With Profit, Capital Boost
  • BP 3Q Adjusted Net Beats Estimates
  • Capgemini to Exceed Mid-Point of 2020 Growth, Margin Forecasts
  • AMS Sees 4Q Revenue $650M to $690M
  • Volkswagen CEO Says Auto Sector Doesn’t Need More Stimulus: FT
  • Fiat Chrysler 9-Mo. Italian Output Declines 27%, Union Says
  • Rolls-Royce Prepares Temporary Closures and Cuts to Hours: FT
  • Aegon Hires JPMorgan to Sell Eastern European Business: Rtrs
  • Plus500 Sees Earnings in Line With Consensus Forecasts

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