The FTSE 100 is called to open 24 points higher at 6883. Asian stocks tumbled and U.S. futures declined Wednesday as rising virus cases around the world led to renewed concern about their economic impact. Treasuries held overnight gains. An MSCI Inc. gauge of Asia-Pacific shares was on track for its biggest drop in four weeks with Japan and Hong Kong leading. Nasdaq 100 futures underperformed. S&P 500 contracts fell after the benchmark dropped for a second day, extending its slide from an all-time high, with investors showing caution ahead of the brunt of the earnings season. Treasuries held a rally that sent the 10-year yield to its lowest level in more than five weeks. The dollar edged higher. Oil prices retreated.
  • Lancashire Holdings to underperform from sector perform at RBC Capital Markets
  • Sandvik Raised to Buy at Pareto Securities; PT 270 kronor
  • Iliad Rated New Buy at Citi; PT 190 euros
  • Getinge Raised to Neutral at JPMorgan; PT 232 kronor
  • CA Immo Cut to Accumulate at Erste Group; PT 43 euros


  • BHP Group reports Q3 production; petroleum production 25.4 MMboe, +1%y/y.
  • ASML 4Q net sales EU4.36b vs EU4.03b mkt est. Gross margin 53.9% vs 52% q/q, mkt est 50.6%. Net income also better with EU1.33b vs EU1.08b mkt est. Sees 2Q net sales forecast beating with EU4b-EU4.1b, EU3.95b mkt est. Expects sales growth towards 30% in 2021.
  • Antofagasta Prod Cost And Capex Guidance For FY Is Unchanged, Prod In 2H Expected `Slightly’ Stronger Than In 1H.
  • Bunzl – Trading Statement. Q1 Rev +5.4%, Op Margin Expected To Return To More Historical Level. Guidance Remains Unchanged.
  • Quilter – Q1 AUMA Statement Looks Decent With Net Inflows Increasing 240% YoY To £1.2Bln. Total AUMA Increased +2% QoQ To £119.9Bln.
  • Hochschild Mining – On Track To Deliver Total ‘21 Output Targets.
  • Akzo Nobel Q1 Adj. Op. Income €307m. Mkt Est. €279.9m. Q1 Rev. €2.26B, +10% y/y, Mkt Est. €2.16B. Targets to grow at least in line with its relevant markets.
  • Drax Robust trading and operational performance during Q1 2021.
  • Carrefour Q1 Sales light €18.58B, Mkt Est. €18.93B. Q1 France Lfl sales better +3.5% Mkt Est +0.6%. Confirms ‘21 €500m share buyback and 2022 Plan Objectives.
  • Heineken Q1 organic revs 0% vs -4.12% mkt ests. Sees market conditions gradually improving in 2H and confirms guidance from February update. Says deployment of Evergreen growth strategy on track.
  • Kering Q1 revs €3.89B vs €3.58B mkt ests with comparable sales +25.8% vs 17% mkt ests. Online sales rose 108% YoY. Gucci standout performer with sales +24.6% due to triple digit growth in China and regaining US market share.
  • Randstand 1Q revs ahead of estimates with EU5.53b vs EU5.45b mkt est. Organic revs +6.4% vs -7.4% y/y. Adj net EU141m +33% y/y. Sees 2Q gross margins ‘slightly’ higher.
  • Roche 1Q sales meet estimates at CHF14.93b vs CHF14.85b mkt est. Core EPS to grow ‘broadly’ inline with sales. Expects to increase divi further. Outlook for 2021 confirmed.
  • Zalando Q1 prelim rev €2.22B-€2.26B vs €2.17B mktests. Sees EBIT €80-€100 with GMV increasing by 55-57%. Online sales continue to grow in Pandemic. Full Q1 results expected May 6th.
  • Elementis Decided That Innospec’s Conditional Proposal At 160p Per Elementis Share “Significantly Undervalued” The Company

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