|Bid||6.30 x 0|
|Ask||6.30 x 0|
|Day's range||6.29 - 6.59|
|52-week range||4.22 - 6.62|
|Beta (3Y monthly)||0.71|
|PE ratio (TTM)||13.10|
|Earnings date||1 Aug 2019|
|Forward dividend & yield||0.28 (4.27%)|
|1y target est||5.59|
Enel SpA (BIT:ENEL) is about to trade ex-dividend in the next 3 days. If you purchase the stock on or after the 22nd...
LONDON/PARIS, July 3 (Reuters) - Israel-focused gas driller Energean has emerged as the front-runner in the race to acquire Italian energy group Edison's oil and natural gas unit, two sources directly involved in the deal said. Edison's portfolio also includes assets in Italy, Algeria, Croatia, the British and Norwegian North Sea as well as Greece, a company presentation showed. Greece's Energean got into the final bidding round for the Edison portfolio along with Cairn Energy, industry and banking sources said.
(Bloomberg) -- Trade jitters, political uncertainty, slower growth. All the issues that plagued investors and sent stocks sliding around this time last year still linger. Yet stocks are up 13% so far in 2019, the best performance in the first half since 1998. One key difference has been the dovish tone adopted by central banks of late. Traders may need more than that to keep them going through the rest of the year.June is usually a bad month for equities, but not this year. Optimism spurred by comments from the ECB and the Fed propelled the Stoxx Europe 600 Index toward its best returns for the period since 2012. The rally has been broad, and across most asset classes.Sector-wise too, all are in the green except for telecoms. The networks are suffering from margin pressure, high costs of 5G licenses and regulations. Sanctions on Huawei are another hurdle for the industry as it might end up costing them $62 billion. Also trailing the broader market are banks and travel shares, with minimal gains.Leading the advance are food and beverage makers, boosted by their defensive appeal and a broad exposure to global growth. The appetite for growth equities has also buoyed the technology sector.That brings us to the growth-value performance gap, which has become more extreme. Barclays strategists sees potential returns for value stocks, but that depends on bond yields finding a floor. That might be a problem in the short term, especially if the ECB ends up cutting rates in the coming months.The rally has done little to staunch fund outflows though. European stocks suffered nearly constant redemptions in 2019, taking the three-year total outflows to about $200 billion. Strategists have been wondering what could lure investors back. Nothing, says Societe Generale, which sees the trend as a structural re-balancing of portfolios into global and emerging markets funds.Country-wise, Spain is the laggard of Europe, penalized by weightings of banks and utilities. The IBEX even managed to record a worse performance than the Brexit-ridden FTSE 100. At the top, Greek banks are soaring, taking the country’s benchmark ASE Index close to 40% gains.Overall, this looks like 1995 to Citi strategists, the last time that U.S. equities, bonds, IG, HY and oil all returned at least 10% in the same year, using annualized returns. Fun fact: the Fed also cut rates in July that year, something that markets are pricing in as a virtual certainty at next month’s meeting. Citi says European equities have, on average, returned nearly 10% in the 6 months following the first Fed rate cut.We’re not there yet, and given this is well expected, would it be enough? Earnings estimates are still being cut, while the future of global trade hangs on talks that have yielded little concrete developments so far. The G-20 summit starting today will still be closely watched, and the absence of escalation might be enough to please investors. One positive point for Europe is that economic surprises are in the green again. Further confirmation will be needed as it also happened last August before taking a turn for the worse.In the meantime, Euro Stoxx 50 futures are trading little changed ahead of the open.SECTORS IN FOCUS TODAY:Watch sportstwear manufacturers after U.S. Nike reported its first earnings miss for 7 years, though revenue met expectations. Watch Adidas and Puma, as well as retail company JD Sports Fashion.Watch Swiss equities after Switzerland barred shares listed in the country from trading in the European Union from Monday. Though manageable in the short-term, it could threaten the attractiveness of Swiss capital markets in the future.Watch the pound and U.K. stocks after Conservative Party leadership candidate Boris Johnson has kept open the option of suspending, or proroguing, the U.K.’s Parliament in order to force through a no-deal Brexit. Opposition to the move is strong. Theresa May has warned she may vote to stop a hard Brexit scenario. All this in the face of slumping consumer confidence in Britain.Watch crypto currencies and related stocks after Bitcoin went back to where it was before the five-day rally it just went through. Big investors in the market are still optimistic overall, but are wishing they’d sold off a bit more of their holdings before the rally reversed.COMMENT:“Markets are now looking towards 2020 prospects”, Citi strategists write in a note. “Bottom up, analysts forecast 11% global growth. This looks high compared to our 7% top-down projection and suggests that more downgrades are likely. Fortunately, history suggests this should not be fatal for stock markets. Since 1989, there have been 15 years when global equities have risen despite analyst downgrades (including 2019 YTD). We expect 2020 to be similar.”COMPANY NEWS AND M&A:VW’s Truck Unit IPO Raises $1.8 Billion, Pricing at Low EndMerlin Entertainment Reportedly Set to Go Private for $7.6 BillionOrange Launches Sale of Remaining Stake in BT Group (1)Deutsche Bank Passes U.S. Stress Test in Surprise Fed DecisionCredit Suisse Expects to Remediate Fed Concerns in TimeGlencore Confirms 19 Fatalities at Congo Mine (2)Enel Plans to Raise 56.8% Stake in Enel Americas by Up to 5%BMW Denies Hiring Freeze Report; Aims to Keep Employment FlatAirbus Working on Tech for Single-Pilot Planes, CNBC Cites CTOHSBC Cuts Cash Rebate on Mortgage Refinancing in Hong Kong: HKEJBoiron: French Body Advised Against Homeopathy ReimbursementNyrstar Says No Decision Made to Date to Remove CEONOTES FROM THE SELL SIDE:Macquarie initiates Boohoo at outperform with a 315p PT that offers more than 49% upside, the broker calling the online retailer “a disrupter and a winner” in a fast changing fashion market.Bankhaus Lampe upgrades Tele Columbus to buy from hold, saying upcoming adjustments to growth strategy should see an uptick in value for investors. PT lowered to EU2.50 from EU4; that still offers more than 39% upside to Thursday’s close.Dialog Semi upgraded to buy from reduce, with co. strongly positioned for growth this year following reshaping of its product offering toward a portfolio which is gaining traction in the market, AlphaValue says.Plus500’s main challenges include client growth, revenue and profit, Peel Hunt says in note reinstating its rating of the company at reduce with PT of 526p and below-consensus estimates.TECHNICAL OUTLOOK for Stoxx 600 index:Resistance at 392.7 (July 2018 high); 397.9 (May 2018 high)Support at 381.2 (50-DMA); 374.5 (61.8% Fibo)RSI: 54.1TECHNICAL OUTLOOK for Euro Stoxx 50 index:Resistance at 3,514 (May high); 3,596 (May 2018 high)Support at 3,410 (50-DMA); 3,403 (61.8% Fibo)RSI: 58.2MAIN RESEARCH AND RATING CHANGES:UPGRADES:Brewin Dolphin raised to outperform at Macquarie; PT 3.64 PoundsBurberry upgraded to neutral at Goldman; PT 18 PoundsDialog Semi upgraded to buy at AlphaValueH&M upgraded to hold at SEB Equities; PT 152.50 KronorJulius Baer upgraded to outperform at Macquarie; PT 58.45 FrancsPSP Swiss upgraded to neutral at JPMorgan; PT 115 FrancsSainsbury upgraded to neutral at Goldman; PT 2.15 PoundsTele Columbus upgraded to buy at Bankhaus LampeDOWNGRADES:Epiroc downgraded to neutral at JPMorgan; PT 101 KronorWartsila downgraded to hold at HSBC; PT 14 EurosINITIATIONS:Boohoo rated new outperform at Macquarie; PT 3.15 PoundsCeres Power rated new buy at Liberum; PT 3 PoundsEquals Group PLC rated new market perform at KBW; PT 1.30 PoundsFerratum rated new market perform at KBW; PT 11.90 EurosFunding Circle Holdings rated new underperform at KBWHypoport rated new market perform at KBW; PT 290 EurosIntegraFin rated new outperform at KBW; PT 4.80 PoundsNestle rated new hold at HSBC; PT 105 FrancsPaypoint rated new market perform at KBW; PT 11.80 PoundsSMCP rated new buy at Oddo BHF; PT 20.50 EurosMARKETS:MSCI Asia Pacific up 1%, Nikkei 225 down 0.5%S&P 500 up 0.4%, Dow little changed, Nasdaq up 0.7%Euro down 0.04% at $1.1365Dollar Index up 0.04% at 96.23Yen up 0.07% at 107.71Brent down 0.7% at $66.1/bbl, WTI down 0.7% to $59/bblLME 3m Copper down 0.2% at $5979.5/MTGold spot up 0.4% at $1415.3/ozUS 10Yr yield little changed at 2.02%ECONOMIC DATA (All times CET):8:45am: (FR) May PPI YoY, prior 2.2%8:45am: (FR) May Consumer Spending MoM, est. 0.3%, prior 0.8%8:45am: (FR) May Consumer Spending YoY, est. 0.3%, prior 1.2%8:45am: (FR) June CPI EU Harmonized MoM, est. 0.0%, prior 0.1%8:45am: (FR) June CPI EU Harmonized YoY, est. 1.1%, prior 1.1%8:45am: (FR) May PPI MoM, prior -0.6%8:45am: (FR) June CPI YoY, est. 1.0%, prior 0.9%8:45am: (FR) June CPI MoM, est. 0.0%, prior 0.1%9am: (SP) 1Q F GDP QoQ, est. 0.7%, prior 0.7%9am: (SP) 1Q F GDP YoY, est. 2.4%, prior 2.4%9am: (SP) May Retail Sales SA YoY, est. 1.5%, prior 1.1%9am: (SP) May Retail Sales YoY, prior 2.0%10am: (SP) April Current Account Balance, prior 010:30am: (UK) 1Q F GDP QoQ, est. 0.5%, prior 0.5%10:30am: (UK) 1Q F GDP YoY, est. 1.8%, prior 1.8%10:30am: (UK) 1Q Current Account Balance, est. -32b, prior -23.7b11am: (EC) June CPI Core YoY, est. 1.0%, prior 0.8%11am: (EC) June CPI Estimate YoY, est. 1.2%, prior 1.2%11am: (IT) June CPI EU Harmonized YoY, est. 0.7%, prior 0.9%11am: (IT) June CPI EU Harmonized MoM, est. 0.1%, prior 0.1%11am: (IT) June CPI NIC incl. tobacco YoY, est. 0.7%, prior 0.9%11am: (IT) June CPI NIC incl. tobacco MoM, est. 0.1%, prior 0.1%12pm: (IT) May PPI MoM, prior -1.5%12pm: (IT) May PPI YoY, prior 2.8%* For a daily wrap on developments in European equity capital markets, click hereTo contact the reporter on this story: Michael Msika in London at email@example.comTo contact the editors responsible for this story: Blaise Robinson at firstname.lastname@example.org, Namitha JagadeeshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A domestic consortium set up by Royal Dutch Shell and pension fund manager PGGM has taken a bigger lead in the race for Dutch energy company Eneco as two other contenders have dropped out, sources close to the matter said. French oil and gas company Total SA and Italy's electricity giant Enel, which had teamed up with Dutch pension fund manager APG, have both dropped out of the process, said the source. One of the sources added that APG was now looking for a new partner.
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! I've been keeping an eye on Enel SpA (BIT:ENEL) because I'm attracted to its fundamentals. L...
In December 2018, Enel SpA (BIT:ENEL) released its most recent earnings announcement, which indicated that the company benefited from a robust tailwind...
If you want to know who really controls Enel SpA (BIT:ENEL), then you'll have to look at the makeup of its share registry. Institutions often own shares in more establishedRead More...
On Friday, the government approved the sale of some oil and gas stocks, in what appears to be a classic example of having it both ways. The stated rationale is that the disposals focus on exploration and production companies, which have the highest correlation to oil and gas prices.
The joint venture, called EGPNA Renewable Energy Partners, was formed in late 2016 between Enel's U.S.-based renewables subsidiary, Enel Green Power North America (EGPNA) and GE Energy Financial Services. It could be valued at more than $1 billion, excluding debt, according to the sources.
By buying an index fund, investors can approximate the average market return. But if you buy good businesses at attractive prices, your portfolio returns could exceed the average market return.Read More...
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! Today we'll evaluate Enel SpA (BIT:ENEL) toRead More...
Enel said on Wednesday its core earnings last year rose 3.8 percent, boosted by stronger margins in its renewable businesses in Italy, Spain and South America. In preliminary results, Italy's biggest utility said its ordinary earnings before interests, tax, depreciation and amortisation (EBITDA) were 16.2 billion euros (14.2 billion pounds), in line with its own targets.
REDWOOD CITY, Calif.--(BUSINESSWIRE)-- C3 , a leading enterprise AI software provider for accelerating digital transformation, today announced that Enel , Europe’s largest power utility for market capitalization ...
Shares of Enel SpA (BIT:ENEL) will begin trading ex-dividend in 2 days. To qualify for the dividend check of €0.14 per share, investors must have owned the shares prior to Read More...
ENEL, SEAS-NVE AMONG AT LEAST FOUR GROUPS IN SECOND ROUND OF BIDDING FOR ORSTED'S POWER DISTRIBUTION BUSINESS- SOURCES.