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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE +0.06 , DAX +0.07, CAC (0.09%), IBEX +0.01%, OMX +0.01%, STOXX (0.04%)

Sep 29 ,2023

  • Synopsis

    • European equity markets are set to open flat amidst Asian equities higher Friday. Hang Seng outperforming amid rally in tech stocks. Nikkei flat while ASX logging slight gain. Mainland Chinese and other Asian markets offline for Golden Week holiday. S&P 500 futures little changed afterhours.

    • On today's agenda, International Energy Agency jointly hosting event addressing the impacts of the global energy crisis on the clean energy transition, speakers include ECB's Lagrade at 9:40CET, Bank of France's Villeroy, Danmarks Nationalbank Callesen, EU's Simson, Enel's (ENEL.IM) Chairman, ENGIE's (ENGI.FP) CEO, Iberdrola (IBE.SM) CFO as well as execs from Mytilineos (MYTIL.GA), Ørsted (ORSTED.DC), others.

    • In central banks, at 9:30BST, BOE publishes Q2 levels of capital and risk-weighted assets for the UK banking sector. Latvia central bank publishes autumn economic forecasts and there's and interview with Governor Kaz�?ks on Latvian tv's Rīta panor�?ma

    • Macroeconomic releases due today include: Germany Sep unemployment change, Aug retail sales, UK Q2 final GDP, Aug mortgage approvals, M3 money supply, Sep house price index - Nationwide, France Sep preliminary CPI, Aug consumer spending, PPI, Switzerland Sep KOF leading indicator, Eurozone Sep preliminary CPI, Italy Sep preliminary CPI, Greece Aug PPI, Jul retail sales, Sweden Aug retail sales, Netherlands Sep preliminary CPI, Denmark Q2 final GDP, Aug unemployment rate, Austria Sep preliminary CPI, Portugal Sep preliminary CPI

    • On the earnings front, French companies kicked off the session with H1/Q4 reports out from Inventiva (IVA.FP), Virbac (VIRP.FP), Trigano (TRI.FP), and Valerio Therapeutics (ALVIO.FP). In other corporate development, BHG Group (BHG.SS) launched a broad restructuring program in the Value Home segment, program costs (SEK1.26B). Also due to report earnings today include Personal Group (PGH.LN), Distribution Finance Capital (DFCH.LN), Likewise Group (LIKE.LN),GPI (GPI.IM), and SIT (SIT.IM).

    • In M&A Handelsblatt reported that ThyssenKrupp (TKA.GR) held negotiations with billionaire Daniel Kretinsky to take 50% stake in its steel business. The article indicated that the deal is expected to close tis year.

  • Politics/Macro/World News

    • UK streamlines planning for £20bn plan to bring power from Morocco - FT

    • UK on track for record tax levels, IFS think tank says - BBC

    • Netherlands Sep preliminary CPI +0.2% y/y vs consensus +1.3% and prior +3.0%

  • Top company news

    • Earnings/updates

      • IVA.FP (Inventiva) -- reports H1 net income (€55.3M) vs year-ago (€29.5M)

      • VIRP.FP (Virbac) -- reports H1 net income €74.8M, (4%) vs year-ago €77.6M

      • TRI.FP (Trigano) -- reports preliminary Q4 revenue €836.1M vs year-ago €738.6M

      • BHG.SS (BHG Group) -- launches broad restructuring program in the Value Home segment, program costs (SEK1.26B)

      • SOLG.LN (SolGold) -- reports Q4 EPS ($0.00) vs year-ago $0.01

      • ALVIO.FP (Valerio Therapeutics) -- reports H1 net income (€11.6M) vs year-ago (€11.5M)

      • SPEX.SW Spexis reports H1 net loss (CHF3.9M) vs year-ago (CHF10.0M)

    • M&A

      • TKA.GR (ThyssenKrupp) -- held negotiations for billionaire Daniel Kretinsky to take 50% stake in its steel business - Handelsblatt, citing sources

      • RF.FP (Eurazeo) -- completes investment in BMS Group

      • ASCL.LN (Ascential) -- Apax Partners in advanced talks to buy WGSN from Ascential - Sky News

      • FNAC.FP (Fnac Darty) -- finalizes the acquisition of MediaMarkt in Portugal

      • RWI.LN (Renewi) -- issues further response to possible offer announcement by Macquarie

      • BHG.SS (BHG Group) -- launches broad restructuring program in the Value Home segment, program costs (SEK1.26B)

    • Healthcare

      • IVA.FP (Inventiva) -- enters ADS sales agreement for up to $58M with TD Cowen - 424B5

      • NANO.FP (Nanobiotix) -- announces presentation of first data from Phase I study evaluating NBTXR3 for patients with locally advanced pancreatic cancer

      • YPSN.SW (Ypsomed Holding) -- CFO Niklaus Ramseier to hand over his functions to Samuel Künzli

      • KZA.AU (Kazia Therapeutics) -- to present Phase II study of paxalisib at Society for Neuro-Oncologyl meeting

    • Other

      • AI.FP (Air Liquide) -- and Trillium sign MOU to pursue development of heavy-duty hydrogen fueling market in the U.S.

      • VOLV.B.SS (Volvo) -- Cars signs collaboration agreement with StoreDot to develop battery cells for next gen EVs

      • ORSTED.DC (Ørsted) -- completes 200 MW wind farm in Kansas

      • HO.FP (Thales) -- announces interim dividend of €0.60/share for FY23

      • CBK.GR (Commerzbank) -- updates Capital Return Policy

      • ASRNL.NA (ASR Nederland) -- appealing to the Dutch Supreme Court following the ruling of the Court of Appeal

      • QDT.FP (Quadient) -- selected as supplier to UCANSS

      • ONTEX.BB (Ontex Group) -- Ontex announces sale of Pakistan activities

  • Key rating changes

    • Upgrades

      • OCI.NA (OCI NV) -- to buy from hold at Jefferies

      • WTB.LN (Whitbread) -- to outperform from neutral at Oddo

      • VACN.SW (VAT Group) -- to buy from hold at Berenberg

      • IFCN.SW (Inficon Holding) -- to buy from hold at Berenberg

      • SLR.SM (Solaria Energia) -- to outperform from neutral at Oddo

      • BC.IM (Brunello Cucinelli) -- upgraded to buy at Goldman Sachs

    • Downgrades

      • BYS.SW (Bystronic) -- to hold from buy at Stifel

      • HDF.FP (HDF Energy) -- to underperform from neutral at Oddo

      • WPP.LN (WPP Group) -- to neutral from buy at Goldman Sachs

  • Data

    • Nikkei (0.47%) to 31723.18

    • Hang Seng +0.00% to 17373.03

    • Shanghai Composite +0.00% to 3110.48

    • S&P futures (2.0) vs prior close of 4337.5

    • €-$ +0.0014 or +0.13% to 1.0582

    • $-¥ (0.04) or (0.02%) to 149.27

    • €-¥ +0.21 or +0.13% to 157.96

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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