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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE (0.56%), DAX30 (0.62%), CAC40 (0.09%)

Jul 06 ,2023

  • Synopsis

    • European equity market futures point to a negative open amidst weaker Asian equities Thursday. Hang Seng experiencing selloff as losses intensify in Japan, Australia and Taiwan. S&P 500 futures pulling lower afterhours.

    • NATO's Stoltenberg due to host a meeting of senior officials from Turkey, Sweden and Finland, to try to overcome Turkish objections to Sweden joining NATO. Swedish PM Kristersson said on Wed after a meeting with US President Biden that the upcoming NATO summit in Vilnius was a "natural time" to finalise Sweden's bid to join NATO. Chancellor Scholz takes part in the third meeting of the Future Council. EU's Simson speech at the Eurogas 1st European Renewable Gas Conf. European Renewable Gas : Evolution or Revolution?. EU Commission due to present Strategic Foresight 2023.

    • In central banks, Bundesbank's Mauderer speech at 14:45CET at Accounting Standards Committee of Germany's Festveranstaltung 25 Jahre and Nagel speech at 18:00CET at DEKRA Dialog. Bank of Latvia's Kaz�?ka interview LTV "Rīta panor�?mai". Bank of Spain's Estrada speech at 9:30CET at event organized by the Instituto Español de Banca y Finanzas. Poland central bank interest rate decision

    • In eanrings, Gerresheimer (GXI.GR) reported Q2 Adj. EPS €1.30 vs consensus €1.27 and confirmed FY guidance whilst Suedzucker (SZU.GR) reported Q1 EPS €0.80 vs year-ago €0.43 and raised FY EBITDA, EBIT guidance. thyssenkrupp nucera (NCH2.GR) priced IPO at €20/share vs indicative range 19.0-21.5/share; first day of trading expected to be tomorrow. In the Nordics, Lerøy Seafood Group (LSG.NO) posted Q2 harvest whilst Norwegian Air Shuttle (NAS.NO) reported June traffic

    • Also today, Totalenergies (TTE.FP) expected verdict on climate proceedings before a Paris court and Lufthansa (LHA.GR) facing nationwide day of action as Verdi union demands inflation compensation

  • Macro

    • SNB doesn't rule out further rate hikes SNB doesn't rule out further rate hikes - Reuters

    • BoE's Bailey says some retailers are overcharging customers, BBC - Reuters

    • UK trade talks 'moving very well', says Indian minister - FT

    • Swedish PM says Vilnius summit natural time for NATO bid finale - Reuters

    • Italy's House approves 4-mth ESM-ratification-bill suspension - ansa

  • Top company news

    • Earnings/updates

      • France:

        • LNA.FP (LNA Santé) -- presents its strategic project Grow Together 3; aims to achieve Operating Turnover more than €1B by 2027

      • DACHs:

        • SZU.GR (Suedzucker) -- reports Q1 EPS €0.80 vs year-ago €0.43; raises FY EBITDA, EBIT guidance

        • GXI.GR (Gerresheimer) -- reports Q2 Adj. EPS €1.30 vs consensus €1.27; confirms FY guidance

        • AGR.AV (Agrana Beteiligungs) -- reports Q1 EPS €0.58 vs year-ago €0.55

        • RDC.GR (Redcare Pharmacy) -- reports preliminary Q2 total sales growth 47% to €421M

        • EMMN.SW (Emmi) -- divests Gläserne Molkerei to Mutares, terms not disclosed; confirms adjusted FY forecast

      • Nordics:

        • NAS.NO (Norwegian Air Shuttle) -- reports June RASK +19.0%

        • EMBRAC.B.SS (Embracer Group) -- announces intention to carry out a directed share issue of approximately SEK 2B through new B shares

        • LSG.NO (Lerøy Seafood Group) -- Q2 trading update: total harvest volume of salmon and trout 29.7K GWT vs year-ago 33.1K

        • ATRLJ.B.SS (Atrium Ljungberg) -- reports Q2 EPS (SEK1.17) vs year-ago SEK23.78

      • Southern Europe:

        • BELA.GA (Jumbo) -- reports Jun Group sales ~ +14% y/y; July trading started on a good note (post EU close 5-Jul)

    • M&A

      • MMT.FP (M6-Metropole) -- sells its majority stake of CTZAR to The Independents for an undisclosed sum

      • FME.GR (Fresenius Medical Care) -- Crescent Capital joins the list of parties interested in Cura Group - The Australian

      • SIKA.SW (Sika Group) -- Sika has acquired Thiessen Team USA. Terms were not disclosed

      • SCYR.SM (Sacyr Vallehermoso) -- Sacyr Group reports closing of previously announced sale of 49% of Eresma highway.

      • ICAD.FP (Icade) -- completes first stage in the sale of Santé for €1.4B

      • EMMN.SW (Emmi) -- divests Gläserne Molkerei to Mutares, terms not disclosed; confirms adjusted FY forecast

      • LNA.FP (LNA Santé) -- presents its strategic project Grow Together 3; aims to achieve Operating Turnover more than €1B by 2027

      • MPCC.NO (MPC Container Ships) -- sells last two JV-owned vessels Cimbria and Cardonia for total $42.5M

      • C79.AU (Chrysos) -- Investment bankers thought to be seeking buyers for Chrysos - The Australian

      • Speculation that only Fortescue Metals and APA Group remain in contest for Alinta assets - The Australian

    • Healthcare

      • OSE.FP (OSE Immunotherapeutics) -- gets DSMB positive recommendation on the continuation until its completion of the Phase 2 clinical trial of IL-7 Receptor antagonist Lusvertikimab in ulcerative colitis

    • Other

      • LHYFE.FP (Lhyfe) -- selected for the creation of a green hydrogen fuel chain due in late 2027

      • NDX1.GR (Nordex) -- supplies 12 turbines for the 43MW Erftstadt-Friesheim wind farm in Germany

      • LNZ.AV (Lenzing) -- successfully completes capital increase

      • EXAI.IM (Expert.ai) -- enters into an investment agreement to back development strategy and strengthens governance

      • RUI.FP (Rubis Photosol) -- announces its first investment in Italy with a portfolio of 10 photovoltaic and agrivoltaic projects totaling close to 100 MWp

      • NOKIA.FH (Nokia) -- Reliance Jio Infocomm to sign $1.7B (€1.57B/INR139.80B) contract with Nokia - Economic Times

      • STLA.IM (Stellantis) -- reaches agreement with Canadian government regarding Windsor EV battery plant

      • STLA.IM (Stellantis) -- confirms construction on Canadian gigafactory with LG Energy Solutions resumes

      • ORSTED.DC (Ørsted) -- Ocean Wind 1 offshore wind project off NJ coast approved by Biden administration

      • EVD.GR (CTS Eventim) -- Follow-up: CTS Eventim AG & Co. KGaA notes consent to proposed settlement in the car toll dispute arbitration proceedings

      • EMBRAC.B.SS (Embracer Group) -- completes directed issue of 80M new B shares at SEK25/share to raise SEK2B

      • COFB.BB (Cofinimmo) -- to build a new nursing and care home in Valladolid for €14M

      • thyssenkrupp nucera sets final offer price at €20.00/sh for IPO through Citi and Deutsche Bank

  • Key rating changes

    • Upgrades

      • SMIN.LN (Smiths Group) -- to sector perform from underperform at RBC Capital Markets

      • BC.IM (Brunello Cucinelli) -- neutral from underperform at BNP Paribas Exane

      • Liberum Capital upgrades BHP.LN, CMCL.LN, RIO.LN

      • Morgan Stanley upgrades UU.LN; revises target on PNN.LN, SVT.LN

      • Goldman Sachs upgrades South32 London listing

      • JPMorgan upgrades MNDI.LN, MNP.SJ, SK3.ID, and SKG.LN

      • TEL2.B.SS (Tele2) -- to buy from hold at DnB Markets

      • UBXN.SW (u-blox Holding) -- to Buy from Add at Baader Helvea

      • UPM.FH (UPM-Kymmene) -- to equal-weight from underweight at Morgan Stanley

    • Downgrades

      • WEN.LN (Wentworth Resources) -- to hold from buy at Panmure Gordon

      • NEM.GR (Nemetschek) -- to underweight from equal weight at Barclays

      • TEF.SM (Telefonica) -- to neutral from outperform at BNP Paribas Exane

      • ENX.FP (Euronext) -- to hold from buy at Deutsche Bank

    • Other Actions

      • ALFEN.NA (Alfen) -- resumed sell at Van Lanschot Kempen

      • Berenberg initiates CTPNV.NA, WDP.BB

      • MRK.GR (Merck) -- resumed buy at Stifel; prior rating was buy

      • RIO.LN (Rio Tinto) -- transferred neutral at BNP Paribas Exane; prior rating was neutral

  • Data

    • Nikkei (1.73%) to 32763.12

    • Hang Seng (3.10%) to 18518.26

    • Shanghai Composite (0.63%) to 3202.71

    • S&P futures (19.0) vs prior close of 4483.8

    • €-$ (0.0009) or (0.08%) to 1.0849

    • $-¥ (0.87) or (0.60%) to 143.77

    • €-¥ (1.09) or (0.69%) to 155.94

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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