📈 Daily Financial Market News, September 27th 📈

Japan Future “new” Bitcoin: J Coin!

The CEO of Mizuho Financial Group told the Financial Times yesterday that a large number of Japanese banks (Mizuho, ​​Japan Post Bank and many regional banks) are preparing to ally to launch a crypto-currency following the course the Yen and the sweet name of "J Coin".

The Japanese regulators agreed with the consortium to present its project in the coming days, with the aim that crypto-currency be usable at the Tokyo Olympic Games in 2020 and reduce the dependence of the Japanese on liquid payment which represents 70 % of all transactions in value vs 30% on average in developed countries.

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China resumes its great march ...

Asian Development Bank has revised upward its Chinese growth forecasts for 2017 and 2018. This change is due to the increase in foreign demand for Chinese goods and services and the more stimulating fiscal policy.

Growth is expected to reach 6.7% this year vs. 6.5% previously estimated, and 6.4% next year vs. 6.2%. But this renewed vigor is not confined to China, the whole of Asia benefits from the positive Chinese momentum.

For HK, the growth estimate rose from 2% to 3.6% in 2017 and 2.1% to 3.2% in 2018.

Concerning S & P's fears about China's debt, ADB said it was not of particular concern (household debt represents 45% of GDP and the overall debt is more than 304%!). The reduction of the debt its priority.

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... the profits too!

**As the situation improves in China, profits for industrial enterprises rose 24% in August vs. 16.5% in July, the highest level in 4 years, thanks in part to the government ' business debt. **

Rising commodity prices also played a role in improving earnings, while profits in the mining industry rose 5.9 times in 12 months, while in the electricity sector water and gas, profits fell by 22.6%.

US News

New York Stock Exchange closed on an unchanged note Tuesday, against a backdrop of stronger expectations of rising interest rates in December after statements by Janet Yellen, the president of the Federal Reserve.

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• Apple (AAPL) + 1.7% after 6 days of decline.
• NVIDIA (NVDA) + 2.6% announces significant advances in AI.
• M & A: Actua Corp. (ACTA): + 25% The Cloud technology provider announced the sale of three activities for $ 549 billion.
• Red Hat (RHT) + 4% Good results publication and sales prospects of Linux operating system distributor
• Carnival (CCL) + 3% good publication, CA $ 5.5B, (vs $ 5.39B est) => Royal Caribbean (RCL) + 3%.
• Micron Technology (MU) + 3.5% - Q4, Net Sales: $ 6.14bn vs. $ 5.97bn is. The company expects a T1, Revenues: $ 6.10bn vs $ 6.50bn is.
• Nike (NKE) -3% - Results down and a mixed T1. T1, CA: $ 9.07bn vs. $ 9.09bn is. We note the smallest growth in turnover in 7 years.

European News

Very positive

• ALSTOM - M & A: and Siemens have formalized the signing of a Memorandum of Understanding with a view to the merger, with payment of € 4 + € 4 dvd
• {EN} NEOPOST - S1, CA: + 0.4%; growth orga -0.2%; Current operating margin: + 18.0% and net profit: € 51 million.
• Guerbet - S1: CA € 407.10m + 8.10% Rnet € 23.10m + 90.40% MEbitda 15.8% confident over the rest of the year
• {GE} BMW – Upgraded to Buy by MainFirst, tgt 100 €
• {GE} HEIDELBERGCEMENT - initiated to Buy by Jefferies, tgt 98 €
• {IR} CRH - initiated to Buy by Jefferies, tgt 36 €
• {SP} MAPFRE – Initiated to Buy by BBVA, tgt 3 €
• {SP} TELEFONICA – Initiated to Buy by Berenberg
• {SP} AENA SA – Initiated to Buy by Barclays, tgt 170 €
• {FR} ABC ARBITRAGE – Upgraded to Buy by Kepler Cheuvreux, tgt 7 € "valorisation has again become attractive."
• {GB} PEARSON - double upgrade from sell to Buy by Exane tgt 700p
• {GE} RWE - pushed by Raymond James (Outperform - tgt 23 €)

Positive

• E.ON - M & A: Fortum / Uniper, E.ON having undertaken to sell its 46.7%
• BOUYGUES - M & A: announced that it will support the Alstom merger offer, of which it is the main shareholder with 28.2% of the capital
• ORPEA - S1, EBITDA: € 258.8M and Recurring Operating Profit: € 188.1M. Guidance Income FY greater than 3.125 billion €.
• TRIGANO - FY, Revenues: € 1.71bn vs. € 1.32bn and Q4, Revenues: € 397m sales + 38%
• CARMAT - confirmed its objective to finalize the tests of its artificial heart
• AST GROUP - S1: Sales € 73.64m + 20.50% Rnet € 3.38m
• {LX} SOLUTIONS 30 - S1: CA € 117.20m + 36% Rnet € 4.90m + 39% confirms its objectives
• {SZ} LAFARGEHOLCIM - initiated to neutral by Jefferies, tgt 63CHF
• {GE} HANNOVER RE - raised to neutral by JP Morgan, tgt 108 €

Neutral

• {FR} MEDIAWAN - S1: CA 86.8m€ EBITDA 21,5m

Negative

• {GE} ADIDAS AG - poor publication of Nike (-3%), lower gross margin
• {GE} UNIPER - M & A: Fortum launched a takeover bid on Uniper at € 22 / share. (against a close to € 23.33)
• ESSILOR - M & A: Essilor-Luxottica: Brussels launches in-depth investigation
• {IT} MEDIASET - S1, Revenues: € 1.82bn vs. € 1.87bn east. and Net Income: € 74.8M vs -28.2M €.
• PIXIUM VISION SA - temporarily suspends IRIS II installations after finding that the lifetime of the device is shorter than expected
• AKKA TECHNOLOGIES - S1: EBIT 41.5m € (vs 41m € est) confirms its objectives
• {SW} ELECTROLUX - downgraded to neutral by Goldman, tgt 290SEK
• {SP} ACS - downgraded to neutral by Berenberg

Very negative

• {SP} AENA SA - downgraded to Sell by HSBC, tgt 130 €