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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE +0.29%, DAX30 +0.14%, CAC40 +0.20%

Aug 30 ,2023

  • Synopsis

    • European equity markets are set to open higher amidst Asian equities trading higher Wednesday. Greater China markets off initial highs as property stocks build on Tuesday's rally. Japan, Australia, and Emerging Asia markets managing solid gains. S&P 500 futures inching higher afterhours.

    • On today's agenda, EU's Wojciechowski participates in the Europe Forum and meets with Finland's PM Petteri Orpo. Bank of Spain's de Cos and Riksbank's Breman as panelists at 12:45CET at EEA-ESEM 2023 (livestream). European Automobile Manufacturers' Association (ACEA) Jul new passenger car registrations are due to be released

    • Macroeconomic releases due today include: Germany Aug preliminary CPI, Switzerland Aug KOF leading indicator, ZEW expectations, Spain Aug preliminary CPI, Italy Aug business/consumer confidence, UK Jul mortgage approvals, M3 money supply, Greece Jul PPI, Eurozone Aug business climate, Belgium Aug CPI, Ireland Aug preliminary HICP, Austria Jul PPI

    • In corporate news, Nordics companies kicked off the session with Bouvet (BOUV.NO) reporting Q2 earnings and Ørsted (ORSTED.DC) announcing that it anticipates impairments on its US portfolio. In Benelux, ASR Nederland (ASRNL.NA) and Ageas (AGD.BB) reported H1 earnings with the latter announcing an interim dividend of €1.5 per share to be paid out, consistent with last year. In the UK, Prudential (PRU.LN) also reported H1 earnings and indicated that while the outlook for Asian markets is mixed, momentum in H1 has continued into Q3. Yesterday post market close, Brunello Cucinelli (BC.IM) reported H1 net income €66.7M, +32% vs year-ago €50.6M and guided growth in FY23 turnover of ~+19%.

    • Also due to report today include Delivery Hero (DHER.GR) and ROCKWOOL (ROCK.B.DC).

  • Politics/Macro/World News

    • UK to reinstate Brussels-derived law protecting equal pay - FT

    • EU imports record volumes of liquefied natural gas from Russia - FT

    • UK Home Sales Set to Plunge to Lowest in Over a Decade This Year - Bloomberg

    • Meloni Weighs Further Aviation Moves After Italian Price Caps - Bloomberg

  • Top company news

    • Earnings/updates

      • France

        • DG.FP (VINCI SA) -- VINCI reports reports July Autoroutes and Airports traffic

      • DACHs

        • AT1.GR (Aroundtown) -- reports H1 FFO €0.16

        • ALLN.SW (Allreal Holding) -- reports H1 net income (ex revaluation gains) CHF66.7M, (18%) vs year-ago CHF81.8M

        • PA8.GR (Paion) -- reports Q2 EPS (€0.69) vs year-ago (€0.54)

        • BNN.GR (BRAIN Biotech) -- reports 9M revenue €40.4M, +12% vs year-ago €36.0M

        • FYB.GR (Formycon) -- reports H1 net income €1.8M vs year-ago €80.0M; guides FY23

        • SUSE.GR (SUSE SA) -- reports Q3 adjusted EBITDA $55.9M, (14%) vs year-ago $65.1M

      • Nordics

        • ORSTED.DC (Ørsted) -- anticipates impairments on US portfolio; to host conference call

        • AGAS.NO (Avance Gas Holding) -- reports Q2 EPS $0.46 vs FactSet $0.41 [6 est, $0.39-0.44]

        • BOUV.NO (Bouvet) -- reports Q2 EPS NOK0.66 vs year-ago NOK0.66

        • NTI.NO (Norsk Titanium) -- reports H1 net income ($5.2M) vs year-ago $2.1M

        • NKR.NO (Nekkar) -- reports Q2 EPS NOK0.18 vs year-ago NOK0.12

        • IRLAB.A.SS (IRLAB Therapeutics) -- reports Q2 EPS (SEK0.87) vs year-ago (SEK0.52)

      • Benelux

        • AGS.BB (Ageas) -- reports H1 Net Operating EPS €3.26 vs year-ago €3.03; confident to reach FY23 Net Operating Result between €1.1B-€1.2B

        • ASRNL.NA (ASR Nederland) -- reports H1 net income €346M vs year-ago (€1.51B); combination with Aegon Nederland is on track

      • UK

        • PRU.LN (Prudential) -- reports H1 IFRS profit after tax $947M vs year-ago ($1.51B)

      • Southern Europe

        • BC.IM (Brunello Cucinelli) -- reports H1 net income €66.7M, +32% vs year-ago €50.6M; growth in FY23 turnover of ~+19% can be expected

      • Russia

        • PHOR.RU (PhosAgro) -- reports H1 adjusted net income RUB55.8M, (49%) vs year-ago RUB108.6M

    • M&A

      • LHA.GR (Deutsche Lufthansa) -- Lufthansa looking to sell insurance brokerage unit Albatros and insurance business Delvag - Bloomberg

      • BRKN.SW (Burkhalter Holding) -- completes capital increase by issuing 149k shares

    • Healthcare

      • COLO.B.DC (Coloplast) -- 12.2M-B share offering priced at DKK755/share

    • Other

      • RWE.GR (RWE) -- secured lease area in Gulf of Mexico wind auction to develop 2 GW of fixed-bottom offshore wind

      • RWE.GR (RWE) -- to expand renewable power business in Australia - Australian Financial Review

      • SK.FP (SEB) -- announces departure of CFO Nathalie Lomon

      • SAAB.B.SS (Saab) -- awarded U.S. Navy Contract

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- reports pending award for multiple proprietary Ocean Bottom Node (OBN) projects in the Gulf of Mexico (GoM)

  • Key rating changes

    • Upgrades

      • ANAV (Andritz) -- to buy from hold at Kepler Cheuvreux

      • FRA.GR (Fraport) -- to buy from hold at Societe Generale

      • BC.IM (Brunello Cucinelli) -- to hold from reduce at Kepler Cheuvreux

      • SGE.LN (Sage Group) -- to buy from add at Numis

    • Downgrades

      • HEIA.NA (Heineken) -- to underperform from sector perform at RBC Capital Markets

    • Initiations

      • YCA.LN (Yellow Cake) -- buy at Liberum Capital

      • PPC.GA (Public Power Corp.) -- overweight at JPMorgan

    • Others

      • MTX.GR (MTU Aero Engines) --resumed buy at Stifel

      • SAF.FP (Safran) -- resumed buy at Stifel

  • Data

    • Nikkei +0.41% to 32359.01

    • Hang Seng +0.33% to 18545.88

    • Shanghai Composite (0.18%) to 3130.24

    • S&P futures +4.8 vs prior close of 4506.8

    • €-$ (0.0014) or (0.13%) to 1.0866

    • $-¥ +0.37 or +0.25% to 146.24

    • €-¥ +0.26 or +0.16% to 158.90

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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