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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.09%, DAX30 +0.40%, CAC40 +0.35%

Aug 22 ,2023

  • Synopsis

    • European indices are set to open higher, mirroring markets East and West.

    • Asia equities trading mostly higher today. Japan, Hong Kong and South Korea are tracking in moderately positive territory from the open. BOJ underlying inflation metrics strengthened further to new highs in July. Trimmed mean rose 3.3% y/y following 3.0% in July, surpassing the prior peak of 3.1% in May.

    • US futures slightly softer, retracing some cash session gains. Semis were a bright spot overnight with positive leads from Nasdaq outperformance alongside gains in Nasdaq.

    • BRICS summit starts in South Africa (through Thu), China's President Xi Jinping among the attendees

    • Economic: Switzerland Jul trade balance (and watch export data), UK Aug industrial trends orders - CBI, Jul public sector net borrowing, Finland Jul unemployment rate, Ireland Jul PPI.

    • In corporate news, Leonardo (LDO.IM) CEO Roberto Cingolani under investigation amidst Solvay SA case (Bloomberg)

    • Early morning Earnings: SFC Energy (F3C.GR) reports Q2 EPS €0.07 vs year-ago €0.11; narrows FY guidance. MPC Container Ships (MPCC.NO) reports Q2 EPS $0.20 ex-items vs FactSet $0.20 [4 est, $0.19-0.21]; raises FY guidance. Cambi (CAMBI.NO) reports Q2 net income NOK52.7M vs year-ago (NOK9.0M); confirms outlook. SKAN Group (BVHN.SW) reports H1 EPS CHF0.35 vs year-ago (CHF0.02). Agilyx (AGLX.NO) reports H1 EPS ($0.13) vs year-ago ($0.11). Overnight, BHP Group (BHP.LN) reported FY Underlying EPS (cont ops) $2.65 vs FactSet $2.71 [23 est, $2.48-2.99] and guides FY 24 copper production 1,720-1,910k, unchanged.

    • UK earnings expected on top of the hour: John Wood Group (WG.LN), Anexo (ANX.LN), Nostrum Oil & Gas (NOG.LN).

  • Politics/Macro/World News

    • Extreme renting: how rising rates turned the screws on tenants across Europe (FT)

    • S&P downgrades multiple US banks citing 'tough' operating conditions (Reuters)

    • Homebuilder warns on profits as housing market alarm bells intensify (SkyNews)

  • Top company news

    • Other Earnings updates

      • BHP.LN (BHP Group) --

        • reports FY Underlying EPS ( cont ops) $2.65 vs FactSet $2.71 [23 est, $2.48-2.99]

        • guides FY 24 copper production 1,720-1,910k, unchanged

      • GREENH.DC (Green Hydrogen Systems) -- reports H1 EBITDA (DKK161.6M) vs year-ago (DKK131.8M)

      • BAKKA.NO (Bakkafrost) -- reports Q2 operational EBIT DKK353M, in line with preliminary vs FactSet DKK366.9M [9 est, DKK351-465.2M]

      • INSTAL.SS (Instalco) -- reports Q2 EPS SEK57.00 vs FactSet SEK0.69 [3 est, SEK0.69-0.70]

      • SYNSAM.SS (Synsam) -- reports Q2 EPS SEK0.94 vs year-ago SEK0.65

      • BICO.SS (BICO Group) --

        • reports Q2 EPS (SEK12.73) vs year-ago SEK0.68

        • announces goodwill impairment predominantly due to increased WACC and write-downs of assets

      • ARBN.SW (Arbonia) -- reports H1 net income (CHF2.0M) vs year-ago CHF11.7M; FY23 guidance remains suspended

      • CTM.SS (Catena Media) -- reports Q2 EPS from continuing operations (€0.03) vs year-ago (€0.01)

      • BVHN.SW (SKAN Group) -- reports H1 EPS CHF0.35 vs year-ago (CHF0.02)

      • Also reporting today

        • Royal Unibrew (RBREW.DC), John Wood Group (WG.LN), Anexo (ANX.LN), Nostrum Oil & Gas (NOG.LN)

    • M&A

      • SHEL.LN (Shell Plc) -- Ithaca Energy, Perenco and Viaro Energy on final shortlist to acquire Shell's southern North Sea gas fields - Bloomberg (21-Aug, 14:50 BST)

      • EQNR.NO (Equinor) -- considering sale of Azerbaijan operations - Bloomberg

      • ENT.LN (Entain) -- announces results of tender offer to shareholders of STS Holdings SA

      • XANO.B.SS (XANO Industri) -- XANO announces acquisition of Integrated Packaging Solutions (IPS) for $21M

    • Healthcare

      • AZN.LN (AstraZeneca) -- FDA grants orphan drug designation to ALXN1820 for Sickle Cell Disease

      • BICO.SS (BICO Group) -- CEO Erik Gatenholm to step down

    • Other

      • VOLV.B.SS (Volvo) -- Chairman Carl-Henric Svanberg declines re-election

  • Key rating changes

    • Downgrades

      • IMCD.NA (IMCD) -- to accumulate from buy at KBC (21-Aug CET, timing uncertain)

    • Initiations

      • FME.GR (Fresenius Medical Care) -- hold at Intesa Sanpaolo (21-Aug, 7:42 CET)

      • BOKU.LN (BOKU) -- buy at Jefferies

  • Data

    • Nikkei +0.83% to 31828.19

    • Hang Seng +0.19% to 17655.90

    • Shanghai Composite (0.34%) to 3082.51

    • S&P futures (4.8) vs prior close of 4412.5

    • €-$ +0.0015 or +0.14% to 1.0911

    • $-¥ (0.25) or (0.17%) to 145.98

    • €-¥ (0.05) or (0.03%) to 159.28

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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