Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.69% to 7579.35, DAX +0.39% to 15836.82, CAC40 +0.68% to 7318.69, STOXX 600 +0.38% to 460.34

Aug 09 ,2023

  • Synopsis:

    • European indices have ended in positive territory, except for Denmark. Banks remained in focus today after Italy unexpectedly approved a 40% windfall tax on Tuesday. However, last night the Fin Min specified that the new windfall tax could not exceed 0.1% of a lender's total assets. Today, PM Giorgia Meloni defended the 40% windfall tax that the government has decided to impose on banks, stating that "the money will be used to finance measures to support families and businesses as they go through a difficult time due to the high cost of money", ANSA reported. Still, EU markets may be on guard for similar moves by other countries. Shares of Italian banks have recovered some of the Tuesday's losses, with the FTSE Italia All-Shares Banks Index finishing up ~+3.7%.

    • Macro-news included UK think-tank NIESR stating that it now sees a 60% chance of recession by end-2024 as interest rate increases pile pressure on families and businesses already reeling from rampant inflation. NIESR sees UK economy remaining at pre-pandemic levels until 2027. House prices expected to fall for three years in a row, while the Bank of England (BoE) seen struggling to get price rises under control for several years. On the bright side, BoE may be close to end of hiking cycle. Officials now publicly saying interest rates doing their job, and that the job is almost done. Analysts see 25bps hike in September to 5.5%, but also see 20% chance of tactical pause in September, and threat of a follow-up hike in November. 5.5% appears to now be the consensual peak BoE rate

    • On a busy earnings calendar, DACH names kicked off the session, with Continental (CON.GR), E.ON (EOAN.GR), Hannover Re (HNR1.GR), Brenntag (BNR.GR) Jenoptik (JEN.GR), Delivery Hero (DHER.GR), Voestalpine (VOE.AV), Ströer (SAX.GR) and Swissquote (SQN.SW) among few other companies to issue updates; in the Netherlands, ABN AMRO Bank (ABN.NA) and Ahold Delhaize (AD.NA) issued Q2 numbers whilst - in the Nordics- Novozymes (NZYM.B.DC), Vestas Wind Systems (VWS.DC), Sampo (SAMPO.FH), Raisio (RAIVV.FH) and PhotoCure (PHO.NO) reported their most recent earnings. In the UK, Coca-Cola HBC (CCH.LN), TUI Group (TUI.LN), Flutter Entertainment (FLTR.LN), Hiscox (HSX.LN), TP ICAP Group (TCAP.LN ) and Bellway (BWY.LN) were among few other names from the region to release their trading update/earnings updates. Elsewhere, Generali (G.IM) issued its H1 report

    • Looking ahead to another busy earnings session tomorrow, Siemens (SIE.GR), Deutsche Telekom (DTE.GR), Allianz (ALV.GR), MunichRe (MUV2.GR), Hapag-Lloyd (HLAG.GR), RWE (RWE.GR), Henkel & Co. (HEN.GR), Rheinmetall (RHM.GR), Knorr-Bremse (KBX.GR), Evonik Industries (EVK.GR), GEA Group (G1A.GR), LEG Immobilien (LEG.GR), HelloFresh (HFG.GR), thyssenkrupp (TKA.GR), K+S (SDF.GR), METRO (B4B.GR), Coface (COFA.FP), Novo Nordisk (NOVO.B.DC), Orsted (ORSTED.DC), ISS (ISS.DC), D/S Norden (DNORD.DC), Solar (SOLAR.B.DC), UnipolSai Assicurazioni (US.IM), Unipol Gruppo (UNI.IM), Zurich Insurance (ZURN.SW), Antofagasta (ANTO.LN), Entain (ENT.LN), Spirax-Sarco Engineering (SPX.LN), Persimmon (PSN.LN), Deliveroo (ROO.LN), Wienerberger (WIE.AV), Oesterreichische Post (POST.AV), KBC (KBC.BB), SBM Offshore (SBMO.NA) and Watches of Switzerland (WOSG.LN) will be among several other companies to publish their results. On the macro-front, Italy Jul final CPI, and UK house price balance - RICS will be the main releases

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers: Energy +2.15%, Telecom +0.95%, Banks +0.92%, Basic Resources +0.83%, Real Estate +0.66%, Insurance +0.61%, Ind Goods & Svcs +0.45%

      • Underperformers: Travel & Leisure (0.98%), Autos & Parts (0.40%), Construct & Mtls (0.22%), Personal Care Drug and Grocery Stores (0.14%), Media (0.10%), Retail (0.05%), Utilities +0.02%, Health Care +0.04%, Food, Beverage and Tobacco +0.13%, Consumer Products and Services +0.12%, Technology +0.16%, Chemicals +0.22%

    • Macro:

      • Giorgia Meloni:

        • first brush with markets undermines Italy's credibility (FT)

        • defends windfall tax on banks after market turmoil (Ansa)

      • Risk of UK recession at next general election is 60%, says thinktank (Guardian)

      • Puigdemont sets high price to break Spanish vote impasse (Politico)

      • Son of Niger's ambassador to France detained in capital Niamey (F24)

      • Ukrainian forces 'in surprise raid' to gain foothold on east side of Dnipro River (ES)

      • Russians blamed for shock cyber attack hitting millions of UK voters (Independent)

      • Poland doubles latest deployment of troops to Belarus border (FT)

    • Company news:

      • Notable Gainers

        • +9.0% BIOBV.FH (Biohit €2.13, +0.18) -- H1 earnings

        • +8.9% GKP.LN (Gulf Keystone Petroleum £1.01, +0.08) -- operational & corporate update

        • +8.0% BRE2.SS (Bredband2 i Skandinavien SEK1.35, +0.10) -- Q2 earnings

        • +7.8% SHLF.NO (Shelf Drilling NOK26.80, +1.95) -- Q2 earnings

        • +7.7% SLP.LN (Sylvania Platinum £0.72, +0.05) -- JV agreement

        • +7.4% TCAP.LN (TP ICAP Group £1.66, +0.12) -- H1 earnings

        • +7.2% OKEA.NO (Okea NOK40.78, +2.74) -- Brasse project continues with OKEA as operator

        • +7.0% FBK.IM (FinecoBank €13.07, +0.85) -- Newly-introduced Windfall Tax on banks cannot exceed 0.1% of the total assets -- Ansa

        • +7.0% HILS.LN (Hill & Smith £16.80, +1.10) -- H1 earnings

        • +5.4% BAMI.IM (Banco BPM €4.22, +0.22) -- Newly-introduced Windfall Tax on banks cannot exceed 0.1% of the total assets -- Ansa

        • +4.7% SAMPO.FH (Sampo €40.39, +1.80) -- Q2 earnings

        • +4.4% RAIVV.FH (Raisio €2.04, +0.09) -- Q2 earnings

        • +4.2% UCG.IM (UniCredit €22.17, +0.90) -- Newly-introduced Windfall Tax on banks cannot exceed 0.1% of the total assets -- Ansa

        • +3.7% DHER.GR (Delivery Hero €38.63, +1.39) -- Q2 revenue

        • +3.7% RSL2.GR (R. Stahl €22.20, +0.80) -- earnings

        • +3.4% CE.IM (Credito Emiliano €7.30, +0.24) -- Newly-introduced Windfall Tax on banks cannot exceed 0.1% of the total assets -- Ansa

        • +2.9% NAS.NO (Norwegian Air Shuttle NOK10.01, +0.29) -- contract

        • +2.7% BMED.IM (Banca Mediolanum €8.12, +0.21) -- Newly-introduced Windfall Tax on banks cannot exceed 0.1% of the total assets -- Ansa

        • +2.6% D4T4.LN (D4t4 Solutions £2.00, +0.05) -- AGM trading update

        • +2.5% BPSO.IM (Banca Popolare di Sondrio €4.15, +0.10) -- Newly-introduced Windfall Tax on banks cannot exceed 0.1% of the total assets -- Ansa

        • +2.5% HKSAV.FH (HKScan €0.77, +0.02) -- Q2 earnings

        • +2.5% ISP.IM (Intesa Sanpaolo €2.40, +0.06) -- Newly-introduced Windfall Tax on banks cannot exceed 0.1% of the total assets -- Ansa

        • +2.5% SUY1V.FH (Suominen €2.92, +0.07) -- Q2 earnings

        • +2.3% BMPS.IM (Banca Monte dei Paschi di Siena €2.53, +0.06) -- Newly-introduced Windfall Tax on banks cannot exceed 0.1% of the total assets -- Ansa

        • +2.1% BFF.IM (Banca Farmafactoring €9.57, +0.20) -- Newly-introduced Windfall Tax on banks cannot exceed 0.1% of the total assets -- Ansa

        • +1.9% SIVE.SS (Sivers Semiconductors SEK7.13, +0.13) -- contract

        • +1.8% BNR.GR (Brenntag €69.52, +1.22) -- Q2 earnings

        • +1.7% INSE.LN (Inspired £0.92, +0.02) -- H1 earnings

        • +1.7% STB.LN (Secure Trust Bank £5.88, +0.10) -- H1 earnings

        • +1.2% ONCO.SS (Oncopeptides SEK7.94, +0.10) -- new CFO

        • +1.1% HNR1.GR (Hannover Re €193.85, +2.05) -- H1 earnings

        • +0.4% GPH.LN (Global Ports Holding £2.25, +0.01) -- 30-year concession agreement for Saint Lucia Cruise Port

        • +0.2% MARI.AV (Marinomed Biotech €42.90, +0.10) -- partnership

      • Notable Decliners

        • -21.7% RM.LN (RM Plc £0.55, -0.15) -- H1 earnings

        • -11.8% WBGR.B.SS (Wastbygg Gruppen SEK33.50, -4.50) -- reports preliminary Q2 EBIT (SEK262M); warns that further write-downs are required

        • -8.4% CLI.LN (CLS Holdings £1.31, -0.12) -- H1 earnings

        • -5.9% HSX.LN (Hiscox £10.49, -0.66) -- H1 earnings

        • -4.2% SQN.SW (Swissquote Group Holding CHF183.70, -8.10) -- H1 earnings; raises FY guidance

        • -4.0% FLTR.LN (Flutter Entertainment £143.05, -6.00) -- H1 earnings

        • -2.9% MZX.GR (Masterflex €9.44, -0.28) -- Q2 earnings

        • -2.5% PHO.NO (PhotoCure NOK44.35, -1.15) -- Q2 earnings; Chairman to step down

        • -2.2% VOE.AV (Voestalpine €27.92, -0.64) -- earnings

        • -2.1% ABN.NA (ABN AMRO Bank €14.39, -0.31) -- Q2 earnings

        • -1.6% EOAN.GR (E.ON SE €10.94, -0.18) -- final H1 earnings

        • -1.6% JEN.GR (Jenoptik €28.36, -0.46) -- earnings

        • -1.6% MUB.GR (Muhlbauer Holding €61.00, -1.00) -- H1 earnings

        • -1.5% AKTIA.FH (Aktia Bank €9.41, -0.14) -- earnings

        • -1.4% BWY.LN (Bellway £21.86, -0.30) -- trading update

        • -1.2% G.IM (Assicurazioni Generali €18.45, -0.23) -- H1 earnings

        • -0.8% SBS.GR (Stratec €49.95, -0.40) -- earnings

        • -0.5% AD.NA (Koninklijke Ahold Delhaize €31.22, -0.16) -- Q2 earnings

        • -0.4% SAX.GR (Ströer €44.22, -0.18) -- earnings

    • EU companies reporting tomorrow:

      • Austria: Wienerberger (WIE.AV), Oesterreichische Post (POST.AV), Semperit (SEM.AV), Polytec (PYT.AV), Mayr-Melnhof Karton (MMK.AV), DO & CO (DOC.AV)

      • Benelux: KBC (KBC.BB), CTP (CTPNA.NA), SBM Offshore (SBMO.NA), Corbion (CRBN.NA), Jensen-Group (JEN.BB), ForFarmers (FFARM.NA)

      • France: Coface (COFA.FP)

      • Germany: Siemens (SIE.GR), Deutsche Telekom (DTE.GR), Allianz (ALV.GR), MunichRe (MUV2.GR), Hapag-Lloyd (HLAG.GR), RWE (RWE.GR), Henkel & Co. (HEN.GR), Rheinmetall (RHM.GR), Knorr-Bremse (KBX.GR), Evonik Industries (EVK.GR), GEA Group (G1A.GR), LEG Immobilien (LEG.GR), HelloFresh (HFG.GR), thyssenkrupp (TKA.GR), K+S (SDF.GR), Vitesco Technologies Group (VTSC.GR), Jungheinrich (JUN.GR), SMA Solar Technology (S92.GR), METRO (B4B.GR), CompuGroup Medical & Co. (COP.GR), Aareal Bank (ARL.GR), GRENKE (GLJ.GR), Deutsche Pfandbriefbank (PBB.GR), PNE (PNE3.GR), CANCOM (COK.GR), Rhon-Klinikum (RHK.GR), ZEAL Network (TIMA.GR), Eckert & Ziegler (EUZ.GR), GFT Technologies (GFT.GR), INDUS Holding (INH.GR), DEUTZ (DEZ.GR), Knaus Tabbert (KTA.GR), SAF-HOLLAND (SFQ.GR), Deutsche Beteiligungs (DBAN.GR), MLP (MLP.GR), OHB (OHB.GR), Hamborner REIT (HABA.GR), Basler (BSL.GR), va-Q-tec (VQT.GR), AURELIUS Equity Opportunities & Co. (AR4.GR), init innovation in traffic systems (IXX.GR), All for One Group (A1OS.GR), Leifheit (LEI.GR), Westwing Group (WEW.GR), JDC Group (JDC.GR), STEMMER IMAGING (S9I.GR), Bike24 (BIKE.GR), Global Fashion Group (GFG.GR), 4SC (VSC.GR), Biotest (BIO.GR), secunet Security Networks (YSN.GR), CECONOMY (CEC.GR)

      • Nordics: Novo Nordisk (NOVO.B.DC), Orsted (ORSTED.DC), ISS (ISS.DC), D/S Norden (DNORD.DC), Solar (SOLAR.B.DC), SpareBank 1 SR-Bank (SRBNK.NO), SpareBank 1 SMN (MING.NO), Sparebanken More (MORG.NO), Selvaag Bolig (SBO.NO), Shelf Drilling (North Sea) Ltd. (SDNS.NO), Pexip Holding (PEXIP.NO), SpareBank 1 Sorost-Norge (SOON.NO), Musti Group (MUSTI.FH), Harvia (HARVIA.FH), Etteplan (ETTE.FH), Relais (RELAIS.FH), Aspo (ASPO.FH), Revenio (REG1V.FH), Digia (DIGIA.FH), G5 Entertainment (G5EN.SS)

      • Southern Europe: UnipolSai Assicurazioni (US.IM), Unipol Gruppo (UNI.IM)

      • Switzerland: Zurich Insurance (ZURN.SW), Bell Food Group (BELL.SW), Metall Zug (METN.SW), Swiss Steel (STLN.SW)

      • UK: Antofagasta (ANTO.LN), Entain (ENT.LN), Spirax-Sarco Engineering (SPX.LN), Persimmon (PSN.LN), Derwent London (DLN.LN), Deliveroo (ROO.LN), OSB Group (OSB.LN), TBC Bank Group (TBCG.LN), Savills (SVS.LN), Videndum (VID.LN), Hostelworld (HSW.LN), Secure Trust Bank (STB.LN), Capital & Regional (CAL.LN)

      • Trading Update: Watches of Switzerland (WOSG.LN), Checkit (CKT.LN), SII (SII.FP), Viel & Cie (VIL.FP)

  • Data:

    • Economics:

      • Portugal Q2 Unemployment Rate 6.1% vs consensus 6.8% and prior 7.2%

      • Denmark Jun Trade Balance DKK 20.9B vs consensus DKK19.4B and prior revised to DKK 18.7B from DKK 19.2B

    • Markets:

      • WTI Crude (Sep 23): +$0.59 or +0.71% to $83.51

      • €-$ +0.0021 or +0.19% to 1.0980

      • £-$ (0.0032) or (0.25%) to 1.2718

      • €-£ +0.0037 to 0.8635

      • S&P 500 (0.65%)

      • Performance year-to-date

        • FTSE 100: +1.71%

        • DAX: +13.74%

        • CAC: +13.05%

        • MIB: +19.29%

        • Stoxx 600: +8.34%

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