27.11.2024
Aroundtown becomes slightly more optimistic + JPMorgan raises Henkel to 'Overweight' - target up to 100 euros + Ørsted has allegedly initiated the sale of shares
The commercial real estate specialist Aroundtown $AT1 (+4,46%) stabilized further in the third quarter thanks to increased rental income and slightly higher interest rates. The loss was significantly reduced in the first nine months compared to the previous year. In addition, the MDax < listed group is somewhat more confident about its operating result than recently. The bottom line for the three months to the end of September was even a profit, meaning that the loss after tax for the first nine months was lower than that of the first half of the year. Unlike recently, no further value adjustments on real estate were necessary, the company announced in Luxembourg on Wednesday. The bottom line for the nine months to the end of September was a loss of 154 million euros compared to almost 1.4 billion euros a year earlier. The operating profit fell by just under eight percent to 236 million euros. Aroundtown also became somewhat more optimistic about the result for the current year and is now aiming for the upper end of the operating result range of 290 to 320 million euros, which was raised in the summer. Compared to 2023, the operating result should therefore only fall slightly.
The US bank JPMorgan has Henkel $HEN (+0,54%) from "Neutral" to "Overweight" and raised its price target from 82 to 100 euros. Analyst Celine Pannuti emphasizes the attractive total shareholder return (TSR) in her 2025 outlook for the consumer goods sector published on Wednesday. She is particularly optimistic about tobacco stocks, the shares of soft drinks manufacturers and breweries as well as consumer durables companies (HPC). Pannuti takes a rather skeptical view of alcoholic beverage and food manufacturers and is also rather selective when it comes to food additives. Henkel is still significantly cheaper than its competitors, although the annual targets for 2024 have been increased twice.
The Danish energy company Ørsted $ORSTED (-0,3%) has initiated the sale of a 50 percent stake in the Hornsea 3 wind farm project in the UK North Sea, Bloomberg News reports. It is unclear what price the company is seeking for the stake. The project, which will supply more than three million British homes with electricity, had previously been valued at 8.5 billion pounds, equivalent to just over SEK 117 billion. The sale is also intended to test the market's appetite for Ørsted's project, which is still under development. Ørsted has been pushing to sell off parts of the company as part of a restructuring plan launched by CEO Mads Nipper earlier this year. Last month it was announced that Brookfield had acquired a stake in four Ørsted-operated wind farms in UK waters for £1.75 billion.
Wednesday: Stock market dates, economic data, quarterly figures
ex-dividend of individual stocks
T-Mobile US USD 0.88
Newmont Corporation USD 0.25
Quarterly figures / company dates Europe
06:50 Aroundtown quarterly figures
08:00 Easyjet annual results
11:00 Adler Group AGM
Untimed: Norsk Hydro Capital Markets Day
Economic data
- 08:45 FR: Consumer Confidence November PROGNOSIS: n/a previously: 94
- 10:30 DE: GfK Consumer Climate Indicator November FORECAST: -19.0 points previously: -18.3 points
- 14:30 US: GDP (2nd release) 3Q annualized PROGNOSE: +2.8% yoy 1st release: +2.8% yoy 2nd quarter: +3.0% yoy GDP deflator PROGNOSE: +1.8% yoy 1st release: +1.8% yoy 2nd quarter: +2.5% yoy
- 14:30 US: Initial jobless claims (week) FORECAST: 215,000 previous: 213,000
- 14:30 US: New orders for durable goods October FORECAST: +0.5% yoy previous: -0.7% yoy
- 15:45 US: Chicago Purchasing Managers Index November PROGNOSE: 44.7 previous: 41.6
- 16:00 US: Personal Spending and Income October Spending / Income FORECAST: +0.4% yoy/+0.3% yoy previous: +0.5% yoy/+0.3% yoy
