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Depositary Receipt business and services are conducted through The Bank of New York Mellon.

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Depositary Receipt business and services are conducted through The Bank of New York Mellon.

Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE 7613 +0.18%, DAX 16008 +0.11%, CAC 7233 +0.15%, IBEX 9355 +0.18%, OMX 2308 +0.21%, SMI 11318 +0.08%, STOXX 4307 +0.21%

Jun 09 ,2023

  • Synopsis

    • European indices are set to open slightly higher with Asian equities also advancing. Greater China equities unchanged following latest inflation data. China CPI inflation inched up in-line with forecasts, but PPI deflation worsened by more than expected. S&P 500 futures little changed after index reentered bull market on Thursday.

    • A Reuters poll of economists showed the majority expect the ECB to end its rate hiking cycle at 3.75%, in line with market pricing. All 59 of the economists polled expect a 25-bp hike next week and about three quarters anticipate a 25-bp increase in July.

    • Friday sees central bank speakers in focus with Riksbank's business survey published at 9:30CET. Meeting of Sweden's Financial Stability Council at 9:00CET, includes reps from Riksbank. ECB's de Guindos participates at 10:00CET in event organised by the EP Liaison Office in Madrid whilst ECB's Enria participates at 10:30CET in roundtable discussion organised by Algebris Investments.

    • Economic data out include Italy and Sweden Apr industrial production, Norway May CPI, PPI, Denmark Apr trade balance, Greece May CPI, Apr industrial production, Netherlands Apr manufacturing production

    • Light earnings today with Integrum (INTEG.B.SS) reporting Q4 EPS SEK0.35 vs year-agoSEK0.18 and Euronext (ENX.FP) releasing May trading activity.

    • In connection with today's CMD, Dassault Systemes (DSY.FP) expects to reach FY28 non-IFRS EPS of €2.20 - €2.40. Other companies hosting CMDs feature Deutsche Post (DPW.GR) and Ceres Power Holdings (CWR.LN).

  • Politics/Macro/World News

    • Chancellor Jeremy Hunt to cut UK's windfall tax on oil, gas - (Telegraph)

    • UK Likely to Dodge Recession With 'Anemic' Growth, BCC Says (BBG)

    • Joe Biden and Rishi Sunak unveil 'Atlantic declaration' to strengthen economic ties (FT)

    • Sunak Leaves US With Some Deals, But Not the Big Trade Prize (BBG)

  • Top company news

    • Earnings/updates

      • DSY.FP (Dassault Systemes) -- Dassault Systèmes expects to reach FY28 non-IFRS EPS of €2.20 - €2.40 -- CMD

      • ENX.FP (Euronext) -- announces May trading activity

      • MGN.NO (Magnora) -- raises its FY25 target to 9,000 MW from 5,000 MW in development; announces capital distribution and buybacks

    • M&A

      • BG (Bunge Ltd) -- Bunge reportedly near agreement to merge with Glencore's Viterra unit in cash and stock transaction valuing combined company at $30B+, incl. debt -- Reuters

      • CO.FP (Casino Guichard-Perrachon) -- Casino Group and TERACT confirm they have discontinued discussions regarding business tie-up

      • CSGN.SW (Credit Suisse Group) -- Credit Suisse seeking buyers for China securities brokerage business - Reuters

      • ASC.LN (Asos) -- Frasers Group increases stake in Asos to 9.9% from 8.8% - Daily Mail, citing 8-Jun intraday filing

      • NHY.NO (Norsk Hydro) -- temporarily increases price in tender offer for Alumetal

      • EDF.FP (Electricite de France) -- announces completion of squeeze-out procedure

      • GAM.SW (Gam Holding) -- AG confirms the publication of the offer prospectus of Liontrust

      • COFB.BB (Cofinimmo) -- divests the Science/Wetenschap 41 office building; the proceeds amount to ~ €12M

      • HUR.LN (Hurricane Energy) -- provides update on matched bargain facility and DCUs

      • GBT.FP (Guerbet) -- announces results of reopened takeover bid for Intrasense shares

      • EXE.FP (Exel Industries) -- acquires 81% stake in Devaux

    • Healthcare

      • SAN.FP (Sanofi) -- FDA panel votes unanimously to support the overall benefit-risk assessment favorable for the use of Beyfortus (nirsevimab)

      • SAN.FP (Sanofi) -- Follow-up: FDA panel supports overall benefit-risk assessment of nirsevimab in children aged up to 24 months who remain vulnerable in 2nd RSV season (2nd voting question)

      • SAN.FP (Sanofi) -- issues press release on FDA Advisory Committee recommendation for nirsevimab

      • ABVX.FP (Abivax) -- stock included in MSCI Indexes

      • +BOEHRINGER (Boehringer Ingelheim) -- FDA grants orphan drug designation to Boehringer Ingelheim for treatment of biliary tract cancer

    • Other

      • MOWI.NO (Mowi) -- publishes 2023 Salmon Farming Industry Handbook

      • APAM.NA (Aperam) -- announces JV with Ferbasa

      • IHS's major investors demand better board representation at annual meeting - Bloomberg (14:05 ET)

      • Index changes: Edenred to replace Vivendi in the CAC 40, effective 19-Jun

  • Key rating changes

    • Upgrades

      • HSBC upgrades DOCM.SW; downgrades SAE.GR

      • SALM.NO (Salmar) -- to buy from hold at DnB Markets

      • CEC.GR (CECONOMY) upgraded to outperform from neutral at BNP Paribas Exane

      • DUFN.SW (Dufry) initiated outperform at Credit Suisse

      • AGN.NA (Aegon) upgraded to buy from hold at HSBC

  • Data

    • Nikkei +1.78% to 32205.68

    • Hang Seng +0.24% to 19344.72

    • Shanghai Composite +0.02% to 3214.35

    • S&P futures (4.8) vs prior close of 4298.3

    • €-$ (0.0001) or (0.01%) to 1.0782

    • $-¥ +0.46 or +0.33% to 139.36

    • €-¥ +0.49 or +0.33% to 150.26

This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
Please refer to "Terms Of Use".

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