DEALERS' EARLY CALL: 18.06.2021

The FTSE 100 is called to open 3 points lower at 7150. Asian stocks drifted with U.S. and European futures Friday after a rally in technology shares and Treasuries Thursday, as investors unwound some of this year’s dominant reflation trades. The dollar held gains and commodities steadied after overnight losses. Equities saw modest gains in Hong Kong and Australia, and slipped in Japan after a central bank meeting. In China, shares pared a retreat as U.S. regulators proposed a ban on products from Huawei Technologies Co. and four other Chinese electronics companies. Nasdaq 100 futures outperformed after a fresh bout of rotation from cyclical stocks pushed the tech-heavy gauge to another record. The S&P 500 ended the U.S. session flat. European futures were little changed. Treasury yields held a slide spurred by speculation investors were unwinding bets on a steeper curve, after Federal Reserve officials signaled monetary-policy tightening could start sooner than previously thought, helping to rein in the risk that inflation might get out of hand.
UPGRADES AND DOWNGRADES
  • Alstom raised to buy at Citi; PT 55 euros
  • Diageo raised to neutral at JPMorgan; PT 3,500 pence
  • EasyJet raised to buy at HSBC; PT 1,200 pence
  • Elis raised to buy at Deutsche Bank; PT 18.81 euros
  • HSBC raised to neutral at JPMorgan; PT 440 pence
  • Rotork raised to overweight at Morgan Stanley; PT 390 pence
  • Ryanair raised to buy at HSBC; PT 19 euros
  • Symrise raised to neutral at JPMorgan; PT 106 euros
  • Wizz Air raised to hold at HSBC; PT 4,500 pence

COMPANY NEWS

  • Altice May Buy More Stake in BT After 12% Buy, TMT Finance Says
  • BayerHealthcare’s Astepro Gets FDA OK for Nonprescription Use
  • Tesco 1Q Like-for-like U.K. Sales +0.5%
  • Rolls-Royce Plans to Make Engines 100% Sustainable by 2023 (1)
  • Brenntag Boosts FY Oper Ebitda Forecast, Beats Estimates
  • Pilgrim’s to Buy Kerry’s Meats and Meals Business
  • Draghi Aims for Tighter Control of Italy’s Takeover Defences

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