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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 (0.35%), DAX (0.76%), CAC (0.69%), MIB (0.61%), IBEX (0.67%), OMX (1.76%), SMI (0.30%), STOXX (0.64%)

Jun 23 ,2023

  • Synopsis

    • European indices are set to open lower, mirroring Asian equities sharply lower. Heavy losses in Hong Kong and Japan while another selloff on ASX has all-but erased its month-to-date gain. Mainland China markets remain closed for Dragon Boat Festival.

    • US equities finished mostly higher in uneventful Thursday trading, though the major averages ended near session highs while the S&P broke a three-day streak of declines. S&P 500 futures pulling lower afterhours.

    • Finland and Sweden markets are closed for Midsummer's Eve.

    • Central banks reaccelerating pace of tightening after BOE and Norges Bank hiked by 50 bp overnight. Several central banks have either resumed or stepped up pace of tightening with inflation proving stickier than assumed. Hawkish policy stance fueling more upward pressure on yields and deepening already inverted yield curves, driving more discussion about recession signaling. Today sees ECB's Panetta as a panelist at 14:45CET on future of crypto at the BIS Annual Conference.

    • Corporate earnings today include: Hornbach Holding (HBH.GR) reported Q1 EPS €4.15 vs year-ago €6.14; confirms FY guidance. Overnight, Siemens Energy (ENR.GR) withdrew profit guidance due to Siemens Gamesa but maintained group revenue guidance. Muhlbauer Holding (MUB.GR) will also report pre-market.

    • CMD/events: Deutsche Post (DPW.GR) Customer business, Tomra Systems (TOM.NO) and Volex (VLX.LN).

    • Economic: Eurozone/France/Germany/UK Jun preliminary manufacturing/services PMI, UK May retail sales, Jun consumer confidence - GfK, distributive trades - CBI, Spain Q1 final GDP, Netherlands Q1 final GDP.

  • Politics/Macro/World News

    • Central banks' battle with inflation enters a new phase of 'pain' (FT)

    • Stubborn UK Inflation Triggers a Mortgage Crisis for Millions (Bloomberg)

  • Top company news

    • Earnings/updates

      • BOO.LN (boohoo Group) -- Trading Update: Guidance remains unchanged from that issued previously in May

      • ENR.GR (Siemens Energy) -- withdraws profit guidance due to Siemens Gamesa

      • AGS.BB (Ageas) -- publishes comparative IFRS17/9 figures for 2022

      • HBH.GR (Hornbach Holding) -- reports Q1 EPS €4.15 vs year-ago €6.14; confirms FY guidance

      • ISB.IR (�?slandsbanki) -- issues FSA inspection update; settlement agreement reached for a fine of (ISK1.16B)

    • M&A

      • IHS (IHS Holding) -- said to hire JPMorgan to help ward off hostile takeover -- Bloomberg

      • TIT.IM (Telecom Italia) -- TIM confirms granting exclusivity period to KKR

      • ATD.CN (Alimentation Couche-Tard) -- announces acceptance by TotalEnergies of offer to acquire European retail assets

      • CAP.FP (Capgemini) -- agrees to acquire BTC Corporation for an undisclosed sum

      • AC.FP (Accor) -- announces having successfully completed the disposal of its headquarters building, "Sequana Tower", for €460M to The Valesco Group

      • NHY.NO (Norsk Hydro) -- increases price in tender offer for Alumetal to PLN 82.00 per share

      • WTB.LN (Whitbread) -- Mitchells & Butlers seen as frontrunner to acquire Whitbread's pub-restaurants - London Times

      • SAMS.FP (Groupe Samse) -- in advanced and exclusive discussions to acquire Gemoise in expansion of its TP/Water sector

      • MLSE chairman Larry Tanenbaum selling stake to OMERS for $400M - Globe and Mail

    • Healthcare

      • BIIB (Biogen) -- CMS releases new details on the proposed Alzheimer's drug registry requirement

      • SRPT (Sarepta Therapeutics) -- announces FDA approval of ELEVIDYS

      • MDG1.GR (Medigene) -- releases presentation material in connection with R&D event on TCR-T Therapies for Solid Tumors

      • BGBIO.NO (BerGenBio) -- ASA issues update on warrants issued in connection with the Rights Issue

      • BDRX.LN (Biodexa Pharmaceuticals) -- announces a ratio change on its ADRs

    • Other

      • ASML.NA (ASML Holding) -- ASML to face new Dutch export controls restricting more chipmaking machines from being sent to China - Bloomberg (22-Jun, 16:24 CET)

      • SHEL.LN (Shell Plc) -- Church of England Pensions Board to divest from fossil fuel firms, including Shell, BP, others

      • FER.SM (Ferrovial) -- announces interim scrip dividend of €0.2871 per share

      • PIRC.IM (Pirelli & C.) -- Sinochem expected to retain stake in Pirelli despite move by Italian government to limit its influence - Reuters (22-Jun, 16:16 CET)

  • Key rating changes

    • Upgrades

      • AC.FP (Accor) -- to buy from hold at Kepler Cheuvreux

      • EVT.GR (Evotec) -- to overweight from equal-weight at Morgan Stanley

    • Downgrades

      • BKG.LN (Berkeley Group Holdings) -- to reduce from hold at HSBC

      • TLX.GR (Talanx) -- to hold from buy at Berenberg

      • SWTQ.SW (Schweiter Technologies) -- downgraded to neutral from outperform at Credit Suisse

    • Initiations

      • NAS.NO (Norwegian Air Shuttle) -- overweight at Barclays

    • Other Actions

      • FER.SM (Ferrovial) -- resumed overweight at Morgan Stanley; prior rating was overweight

      • ALD.FP (ALD) -- resumed neutral at JPMorgan; prior rating was neutral

  • Data

    • Nikkei (1.88%) to 32640.04

    • Hang Seng (1.88%) to 18857.59

    • Shanghai Composite +0.00% to 3197.90

    • S&P futures (21.0) vs prior close of 4423.8

    • €-$ (0.0028) or (0.26%) to 1.0932

    • $-¥ +0.14 or +0.10% to 143.23

    • €-¥ (0.24) or (0.15%) to 156.55

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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