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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE +0.14%, DAX30 +0.12%, CAC40 (0.08%)

Sep 01 ,2023

  • Synopsis

    • European equity markets are set to open mostly flat to marginally higher as a new month of trading gets under way. In August, the Stoxx Europe 600 fell (2.79%), snapping a two month winning streak.

    • Asian equities mixed Friday Japan equities outperforming though quiet elsewhere with mainland China and Korea little changed. ASX underperforming region. Hang Seng and Philippines markets shut due to typhoon. S&P 500 futures steady afterhours. Treasury curve bear flattening ahead of US nonfarm payrolls. Yuan erased gains that following PBOC FX RRR cut. Base metals leading commodity market gains as crude hovers near three-week high.

    • Macro data releases out today in Europe include Norway/Spain/Sweden/Switzerland Aug manufacturing PMI and final reads for Eurozone/France/Germany/UK, Switzerland Aug CPI, Italy/Ireland/Austria Q2 final GDP, Italy Jul PPI, Austria Aug unemployment rate, UK Aug house price index - Nationwide.

  • Macro/politics

    • China ramps up economic support as Country Garden vote looms - Reuters

    • New ECB Inflation Outlook to Be Similar to June, Guindos Says - BBG

    • Two Million Britons Are Using Buy-Now-Pay-Later for Essentials - BBG

    • British home prices to fall 4% in 2023 as borrowing costs bite: Reuters poll

    • Swedish Home Buyers Cancel Bookings on New Houses at Record Rate - BBG

  • Top company news

    • Earnings/updates

      • NDA.GR (Aurubis) -- identifies serious indications of shortfall in metals during a scheduled review of inventories

      • FIE.GR (Fielmann Group) -- closes US acquisition of SVS Vision, upgrades FY2023 prognosis

      • CFT.SW (Cie Financiere Tradition) -- reports H1 EPS CHF6.93 vs year-ago CHF6.78

    • M&A

      • HSBA.LN (HSBC Holdings) -- Pepper Money to acquire HSBC's mortgage portfolio in New Zealand; terms undisclosed

      • BNP.FP (BNP Paribas) -- Mirae Asset Financial Group looking at buying Sharekhan - Korea Economic Daily

    • Healthcare

      • ROG.SW (Roche Holding) -- Roche's Alecensa delivers unprecedented Phase III results for people with ALK-positive early-stage lung cancer

      • BAYN.GR (Bayer AG) -- Bayer expands clinical development program investigating finerenone for potential treatment of heart failure

      • BAYN.GR (Bayer AG) -- Bayer's Kerendia (finerenone) included in latest focused guideline clinical updates from European Society of Cardiology

      • IPN.FP (Ipsen) -- Ipsen, EVP and Head of R&D, Howard Mayer, who will leave on 22-Sep, following his decision to retire.

    • Other

      • BMW.GR (Bayerische Motoren Werke) -- BMW considers political requirement to abandon combustion engine to be negligent - Handelsblatt

      • VWS.DC (Vestas Wind Systems) -- signs conditional agreement for onshore wind power project above 1 GW in the USA

      • BA.LN (BAE Systems) -- awarded $432.6M U.S. Army contract modifcation

      • BA.LN (BAE Systems) -- awarded $274.1M U.S. Army contract

      • BA.LN (BAE Systems) -- awarded $100.9M U.S. Defense contract modification

      • BA.LN (BAE Systems) -- awarded $432.6M US Army contract modification

      • TIGO.SS (Millicom International Cellular) -- announces resignation of Chairman José Antonio Ríos García; appoint CEO Mauricio Ramos as Interim Chairman through 2024 AGM; disclose additional executive appointments and CEO succession plan

      • QQ.LN (QinetiQ Group) -- announces $224M contract win in the US

      • AF.FP (Air France-KLM) -- finalizes split of Air France - KLM shares and capital reduction as announced on 31-July-2023

      • Duke Energy CIO says AI can accelerate energy transformation

  • Key rating changes

    • Upgrades

      • Morgan Stanley upgrades EQNR.NO, GALP.PL, REP.SM

    • Downgrades

      • VOW3.GR (Volkswagen) -- to sell from neutral at UBS

      • RNO.FP (Renault) -- to sell from neutral at UBS

    • Initiations

      • GBLB.BB (Groupe Bruxelles Lambert) -- initiated buy with €86 target at Kepler Cheuvreux

      • SOF.BB (Sofina) -- initiated buy with €261 target at Kepler Cheuvreux

  • Data

    • Nikkei +0.45% to 32764.88

    • Hang Seng +0.00% to 18382.06

    • Shanghai Composite +0.23% to 3126.99

    • S&P futures +5.3 vs prior close of 4516.0

    • €-$ +0.0001 or +0.01% to 1.0846

    • $-¥ +0.04 or +0.03% to 145.58

    • €-¥ +0.08 or +0.05% to 157.88

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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