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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.32%), DAX30 (0.29%), CAC40 (0.33%)

Aug 18 ,2023

  • Synopsis

    • European indices are set to open lower today. Asian equities mostly weaker Friday. Hang Seng underperforming as property stocks extend losses following latest default headlines. Other markets mixed with mainland China and Japan little changed. .

    • China property crisis continues with Evergrande filing for bankruptcy in New York. Default concerns also revolve around Country Garden, which has less than 30 days to make repayment on dollar bonds it missed last week

    • US equities finished lower in Thursday trading, ending near worst levels. Big tech was largely lower. S&P 500 futures flat afterhours

    • In corporate news, from the DACHs region, u-blox Holding (UBXN.SW) reports H1 adjusted net income CHF48.3M vs year-ago CHF48.7M whilst Emmi (EMMN.SW) reports H1 net income attributable CHF97.8M vs FactSet CHF55.6M and reaffirms FY guidance. Compagnie Financière Tradition (CFT.SW) announces the launch of its share buyback program of up to 300,000 sharesIn the Nordics, Catella (CAT.B.SS) reports Q2 EPS SEK0.95 vs year-ago SEK2.80 and Proximar Seafood (PROXI.NO) reports Q2 EPS (NOK0.49) vs year-ago (NOK0.15).

    • Today's agenda also sees Norges Bank's Børsum speech at 9:00CET and the bank publishing its expectations survey for Q3 at 10:00CET and ECB's Lane podcast at 10:00CET title the role of banks in fighting inflation

    • Economic releases due include UK Aug GfK consumer confidence and Jul retail sales, Norway Q2 GDP, Eurozone Jul final CPI, Austria Jul final CPI, Portugal Jul PPI

  • Top company news

    • Earnings/updates

      • TCELL.E.TI (Turkcell) -- reports Q2 EBITDA TRY9.52B vs FactSet TRY8.70B [5 est, TRY8.49-8.80B]

      • SCATC.NO (Scatec) -- reports Q2 EPS NOK1.90 vs year-ago (NOK1.02); increases FY23 EBITDA guidance by NOK250M

      • PSPN.SW (PSP Swiss Property) -- reports H1 EPS ex-items CHF3.28 vs year-ago CHF2.71; raises FY EBITDA guidance

      • NLFSK.DC (Nilfisk Holding) -- reports Q2 EPS €0.64 vs year-ago €0.38

      • EVS.BB (EVS Broadcast Equipment) -- reports H1 EPS €1.52 vs year-ago €1.15

    • M&A

      • X (United States Steel) -- Cleveland-Cliffs receives exclusive assignment of right to bid from United Steelworkers

      • SPIE.FP (SPIE) -- signs an agreement for the acquisition of 75.1% of BridgingIT

      • SUSE.GR (SUSE SA) -- SUSE enters into transaction framework agreement with Marcel for public purchase offer and delisting

      • BQB1.GR (Yourgene Health) -- Yourgene Health shareholders approve acquisition by Novacyt

    • Healthcare

      • GETI.B.SS (Getinge) -- FDA identifies recall of certain Cardiosave IABPs as a Class I recall

    • Other

      • MOZN.SW (mobilezone holding) -- 2022-25 share buyback suspended for 2023 - slides

      • NOVN.SW (Novartis) -- shareholders to vote on spin-off of Sandoz on 15-Sep; plans on or around 4-Oct as first day of trading for Sandoz shares

      • AMG.NA (AMG Critical Materials) -- AMG Critical Materials's AMG Brazil SA signs MOU with Group Lagoa

      • Coles Group provides CFC project update; Ocado delays timing for hand over

  • Key rating changes

    • Upgrades

      • GL9.ID (Glanbia) -- to overweight from equal-weight at Morgan Stanley

      • KOJAMO.FH (Kojamo) -- to buy from hold at SEB

      • Barclays upgrades NPN.SJ, PRX.NA

    • Downgrades

      • RS1.LN (RS Group plc) -- to neutral from buy at UBS

      • Adyen (ADYEN.NA) --

        • neutral from outperform at Autonomous Research

        • hold from buy at Berenberg

  • Data

    • Nikkei (0.69%) to 31407.09

    • Hang Seng (1.34%) to 18081.42

    • Shanghai Composite (0.16%) to 3158.59

    • S&P futures (3.0) vs prior close of 4384.5

    • €-$ +0.0005 or +0.05% to 1.0878

    • $-¥ (0.48) or (0.33%) to 145.36

    • €-¥ (0.46) or (0.29%) to 158.10

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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