Leaving BNY Website

 

You are leaving the BNY Mellon's Depositary Receipts' Website.
Linked sites are not under the control of The Bank of New York Mellon Corporation or any of its subsidiaries or affiliates (together, the "Company") and the Company is not responsible for the content of any linked site or any link contained in a linked site. If you choose to link to a website not controlled by the Company, you do so entirely at your own risk and the Company makes no warranties, either express or implied, concerning the content of such site, including the accuracy, completeness, reliability or suitability thereof for any particular purpose, nor does the Company warrant that such site or content is free from any claims of copyright, trademark or other infringement of the rights of third parties or that such site or content is devoid of viruses or other contamination. The Company does not guarantee the authenticity of documents on the Internet. Links to other sites do not imply any endorsement of or responsibility for the opinions, ideas, products, information or services offered at such sites, or any representation regarding the content at such sites. The Company reserves the right to terminate any link at any time.

Do you wish to continue to the linked site on these terms?

Stay On Page
Leave Page

© 2025 The Bank of New York Mellon Corporation

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

BNY - DR Legal Disclaimer
  

To learn more about DRs, please contact DRBrokerSolutions@bny.com.

 

The information and data provided herein are provided for general informational purposes only.  BNY does not warrant or guarantee the accuracy, timeliness or completeness of any such information or data.  BNY does not undertake any obligation to update or amend any information or data, and may change, update or amend any information or data at any time without prior notice.

 

BNY provides no advice, recommendation or endorsement with respect to any company or securities.  No information or data is intended to provide legal, tax, accounting, investment, financial, trading or other advice on any matter, and is not to be used as such.  We expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon any information or data, including market value loss on the sale or purchase of securities or other instruments or obligations.

 

Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.

 

BNY collects fees from DR holders pursuant to the terms and conditions of the DRs and any deposit agreement under which they are issued.  From time to time, BNY may make payments to an issuer to reimburse and/or share revenue from the fees collected from DR holders, or waive fees and expenses to an issuer for services provided, generally related to costs and expenses arising out of establishment and maintenance of the DR program.  BNY may pay a rebate to brokers in connection with unsponsored DR issuances; brokers may or may not disclose or pass back some or all of such rebate to the DR investor.  BNY may also use brokers, dealers or other service providers that are affiliates and that may earn or share fees and commissions.

 

BNY may execute DR foreign currency transactions itself or through its affiliates, or the Custodian or the underlying Company may execute foreign currency transactions and pay US dollars to BNY.  In those instances where it executes DR foreign currency transactions itself or through its affiliates, BNY acts as principal counterparty and not as agent, advisor, broker or fiduciary.  In such cases, BNY  has no obligation to obtain the most favorable exchange rate, makes no representation that the rate is a favorable rate and will not be liable for any direct or indirect losses associated with the rate. BNY earns and retains revenue on its executed foreign currency transactions based on, among other things, the difference between the rate it assigns to the transaction and the rate that it pays and receives for purchases and sales of currencies when buying or selling foreign currency for its own account.  The methodology used by BNY to determine DR conversion rates is available to registered Owners upon request or can be accessed here.  In those instances where BNY's Custodian executes DR foreign currency transactions, the Custodian has no obligation to obtain the most favorable exchange rate or that the method by which the rate will be determined will be the most favorable rate, and BNY makes no representation that the rate is a favorable rate and will not be liable for any direct or indirect losses associated with the rate.  In certain instances, BNY may receive dividends and other distributions from an issuer of securities underlying DRs in U.S. dollars rather than in a foreign currency.  In such cases, BNY will not engage in or be responsible for any foreign currency transactions and it makes no representation that the rate obtained by an issuer is a favorable rate and it will not be liable for any direct or indirect losses associated with the rate.

 

BNY is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle.  BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).

 

BNY's name, brand and/or trademarks may not be used, copied or reproduced without the prior express written consent of BNY.

 

DEPOSITARY RECEIPTS ARE NOT INSURED BY THE FDIC OR ANY OTHER GOVERNMENT AGENCY, ARE NOT DEPOSITS OR OTHER OBLIGATIONS OF, AND ARE NOT GUARANTEED BY, BNY AND ARE SUBJECT TO INVESTMENT RISKS INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED.

 

Please also see "Terms of Use."

ACCEPT

Please enable cookies in your browser if you wish to proceed.

Regulation S Disclaimer

 

Access To This Company Profile Is Restricted To Non-U.S. Persons Outside The United States Within The Meaning Of Regulation S Under The U.S. Securities Act Of 1933, As Amended (The "Securities Act").1

 

This company profile does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction or under any circumstances in which such offer or solicitation is unlawful.

 

Each person accessing this company profile, by so doing, will be deemed to have acknowledged that: (1) It is not a U.S. person (within the meaning of Regulation S under the Securities Act) and is located outside the U.S. (within the meaning of Regulation S under the Securities Act); and (2) Any securities described herein (A) have not been and will not be registered under the Securities Act or with any securities regulatory authority of any state or other jurisdiction and (B) may not be offered, sold, pledged or otherwise transferred except to persons outside the U.S. in accordance with Regulation S under the Securities Act pursuant to the terms of such securities.

 

If you agree with and accept the foregoing and the Terms of use governing this site, please select "Accept" below. Otherwise, press "Decline" to return to the previous page.

 

1 As defined in the Securities Act, the term "U.S Person" means: (1) any natural person resident in the United States; (2) any partnership or corporation organized or incorporated under the laws of the United States; (3) any estate of which any executor or administrator is a U.S. person; (4) any trust of which any trustee is a U.S. person; (5) any agency or branch of a foreign entity located in the United States; (6) any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. person; (7) any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and (8) any partnership or corporation if: (A) organized or incorporated under the laws of any foreign jurisdiction; and (B) formed by a U.S. person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a)) who are not natural persons, estates or trusts.

I Accept Decline

© 2024 The Bank of New York Mellon Corporation
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 (0.42%), DAX30 (0.64%), CAC40 (0.22%)

Jun 19 ,2023

  • Synopsis

    • European equity markets set to open broadly lower after last week's gains when the Stoxx Europe 600 closed up 1.5%, marking the best performance for the Stoxx 600 Index in two months. Last week's risk sentiment was supported by a combo of Fed pausing its aggressive rate tightening campaign (despite hawkish dot plot) and growing expectations of forthcoming broad stimulus measures out of China following a rate cut by the country's central bank.

    • It should be a relatively quiet start to the week with US Markets closed on Monday for the Juneteenth Holiday. Main focus in Europe will be the Bank of England (BoE) policy decision on Thursday with consensus pointing to 0.25% hike to 4.75%. However, markets discounting peak rate at 5.75%, while economists suggest just 5.0%. The statement, summary and MPC minutes may be scrutinized for clues on which view is correct. Comes as confidence in BoE at record low (London Times). This week, Swiss National Bank (SNB) and Norges Bank also expected to hike rates by 0.25% to 1.75% and 3.50% respectively. On the data front, EZ flash PMIs will be the focus in Europe, with EZ current account and German PPI the only other data points of note. UK will release retail sales, CPI and PPI along with Flash PMI. German chancellor Scholz will be welcoming a Chinese delegation this week (FT). UK chancellor Hunt ruled out direct support for households (FT). ECB warned Brussels against windfall levy on frozen Russian assets (FT).

    • Today's session sees EU energy ministers meeting with electricity market design among the topics for discussion. UK parliament sees motion relating to the 5th Report from the Committee of Privileges and a general debate on the UK tech industry following London tech week, whilst committee business includes taking evidence on Ransomware and enabling sustainable electrification of the UK economy. In central banks, BOE's Kyei panellist at 10:00BST at webinar organised by Financial Services Club. Bank of Spain publishes quarterly report on the Spanish economy and macroeconomic projections. ECB publishes its latest survey of monetary analysts at 10:00CET whilst ECB's Lane fireside chat at 13:00CET at awarding of the German Bernacer prize; de Guindos remarks at 19:10 on Tue. ECB's Schnabel chair session at 13:40CET at conf organised by Euro50 Group as ECB's de Guindos participates at 20:00CET in a prize awarding ceremony of economic journalism. European Court of Auditors publishes report on industrial policy for batteries.

    • Other events taking place on Mon include Paris Air Show (through Sun) and BDI Day of German Industry (through Tue), speakers today include Chancellor Scholz 13:20CET and finance minister Linder 14:25

    • On the corporate front, Sartorius (SRT3.GR) and Sartorius Stedim Biotech (DIM.FP)both lower forecasts for 2023. AstraZeneca (AZN.LN) eyed as FT reports company considering spin-off of China unit with potential listing in Hong Kong or Shanghai. Crayon Group (CRAYN.NO) exploring options including a sale, reports Bloomberg. Novo Nordisk (NOVO.B.DC) formally agrees to acquire BIOCORP Production (ALCOR.FP) for €35/share. Michelin (ML.FP) to acquire 100% of Flex Composite Group (FCG) for an enterprise value of €700M

  • Macro/politics

    • Bets for Soaring UK Interest Rates May Unravel Over 30 Hours - BBG

    • MPs to vote on report that said ex-PM misled Parliament - BBC

    • Olaf Scholz faces tricky balancing act in Germany-China talks - Reuters

    • UK house asking prices weaken as mortgage increases dent confidence - FT

  • Top company news

    • Earnings/updates

      • SRT3.GR (Sartorius) -- lowers forecast for 2023

      • DIM.FP (Sartorius Stedim Biotech) -- lowers forecast for 2023

      • FLOW.NA (Flow Traders) -- reports May ETP market data

    • M&A

      • BALL (Ball Corp) -- Ball Corp said to weigh ~$5B sale of its aerospace business; unit has attracted interest of BAE Systems (BA.LN), Textron (TXT) and private equity -- Reuters, citing sources

      • CRAYN.NO (Crayon Group Holding) -- exploring options including a sale -- Bloomberg

      • CLOUD.NO (Cloudberry Clean Energy) -- enters agreement with Norsk Vannkraft for sale of three hydropower plants for NOK 703M

    • Healthcare

      • AZN.LN (AstraZeneca) -- considering spin-off of China unit with potential listing in Hong Kong or Shanghai - FT, citing people familiar with the matter

      • HZNP (Horizon Therapeutics) -- announces additional data from Phase 4 TEPEZZA clinical trial reinforce efficacy in people with thyroid eye disease (TED) regardless of disease activity or duration

      • BAYN.GR (Bayer AG) -- Bayer preparing crackdown on internal bureaucracy amid plans to empower staff - FT

      • MCRB (Seres Therapeutics) -- Seres Therapeutics, Nestlé Health Science present late-breaking data on VOWST at ASM Microbe 2023

      • VSC.GR (4SC) -- Kinselby accepted by EMA Name Review Group (NRG)

      • TLX.AU (Telix Pharmaceuticals) -- notes first patient dosed in Phase II STARBURST study exploring indication expansion

      • EFYA.GR (PharmaCyte Biotech) -- SEC filing: SC 13D/A (Filed by Iroquois Capital Management, LLC)

    • Other

      • SHEL.LN (Shell Plc) -- Shell CEO discusses recent strategy update in an interview with the FT

      • AIR.FP (Airbus SE) -- Airbus in talks with Viva Aerobus for major narrowbody aircraft deal - Bloomberg

      • UBSG.SW (UBS Group) -- UBS likely to keep Credit Suisse's domestic business - FT

      • RR.LN (Rolls-Royce Holdings) -- Rolls-Royce open to becoming a partner on single-aisle engine programs - Bloomberg

      • PIRC.IM (Pirelli & C.) -- Italy cuts 37% holder Sinochem's influence on Pirelli - FT

      • Estimated weekend box office revenues in US, Canada $163.6M, (0.6%) y/y - Box Office Mojo

  • Key rating changes

    • Upgrades

      • ESSITY.B.SS (Essity) -- to hold from underperform at Jefferies

      • BEI.GR (Beiersdorf) -- to buy from sell at Societe Generale

      • FEVR.LN (Fevertree Drinks) -- to buy from hold at HSBC

      • FGP.LN (FirstGroup) -- to buy from hold at HSBC

      • GET.FP (Getlink) -- to overweight from equal-weight at Morgan Stanley

      • GRNG.SS (Gränges) -- short-term recommendation upgraded to buy from hold at Handelsbanken

      • KTA.GR (Knaus Tabbert) -- to buy from hold at Kepler Cheuvreux

    • Downgrades

      • BAS.GR (BASF SE) -- to hold from buy at HSBC

      • SAVE.SS (Nordnet) -- to underweight from neutral at JPMorgan

      • MTRS.SS (Munters Group) -- to hold from buy at Kepler Cheuvreux

      • 1U1.GR (1&1 AG) -- to equal weight from overweight at Barclays

      • UTDI.GR (United Internet) -- to equal weight from overweight at Barclays

    • Initiations

      • JYSK.DC (Jyske Bank) -- neutral at UBS

      • OVS.IM (OVS) -- outperform at Mediobanca

      • BUSER.SS (Bambuser) -- buy at ABG Sundal Collier

      • CATE.SS (Catena) -- buy at Carnegie Securities

  • Data

    • Nikkei (1.17%) to 33312.95

    • Hang Seng (1.29%) to 19782.67

    • Shanghai Composite (0.46%) to 3258.26

    • S&P futures (1.5) vs prior close of 4453.8

    • €-$ (0.0001) or (0.01%) to 1.0938

    • $-¥ (0.16) or (0.11%) to 141.60

    • €-¥ (0.20) or (0.13%) to 154.87

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".

DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE