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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.18%, DAX40 (0.01%) , CAC40 +0.12%

Nov 23 ,2023

  • Synopsis

    • European indices are set to open mixed to higher amid Asian equities trading mixed Thursday in a quiet day's trading. Australia closed with sharp losses as mining stocks fell. US futures flat (although markets closed today for Thanksgiving). US dollar a little weaker with AUD, yen and yuan all stronger. Crude down again as OPEC+ meeting delayed.

    • On today's agenda, EU-Canada Summit takes place (through Fri) in St. John's Newfoundland whilst EU's Johansson hosting the EU-Turkey High-Level Dialogue on Migration and Security and German Sustainability Day (through Fri). Also, Ireland Taoiseach Varadkar meets with EU's Sinkevi�?ius. Russia's Putin due to take part in the Collective Security Treaty Organization (CSTO) summit in Belarus. In Germany, Chancellor Scholz hosts meeting of the Alliance for Transformation. In UK, IFS presents it's initial analysis of Chancellor's Autumn Statement 2023 at 10:30GMT

    • Among central banks updates/speakers, Riksbank's interest rate decision at 9:30CET, press conf 11:00, Consensus expectations are now for a 25bps increase in benchmark rate to 4.25%. Austria Central Bank's Financial Stability Report press conf at 10:00CET. Estonia Central Bank's Müller speaks at 10:00CET at Financial Stability Review press conf. Bundesbank's Buch speech at 10:30CET in connection with 2023 Financial Stability Review whilst Mauderer panellist at 18:00CET at Stiftung Deutscher Nachhaltigkeitspreis. ECB releases minutes of last MPC at 13:30CET. Turkey interest rate decision also due. ECB's Schnabel speech at 20:30CET at event organised by Porto Business School. Latvia Central Bank's Kaz�?ks meets country's PM Siliņa.

    • Macro data updates expected: Eurozone/France/Germany/UK Nov preliminary manufacturing/services PMIs, France Nov business climate and Norway Q3 GDP, Oct unemployment rate.

    • In corporate news, Ackermans & Van Haaren (ACKB.BB) issues a Q3 trading update, says it is well on track to post a solid set of FY23 results. In Spain, Endesa (ELE.SM) announces its dividend policy 2023-2026 and releases presentation material in connection with its CMD. Out of the Nordics, Lassila & Tikanoja (LAT1V.FH) keeps long-term financial targets unchanged ahead of its CMD today. LE Lundbergforetagen (LUND.B.SS) is also due to report earnings. From the DACH region, All for One Group (A1OS.GR) issues preliminary FY EBIT €17.7M ex-items vs prior guidance €17.5-21.5M and FactSet €16.5M and issues FY guidance as well as reaffirms medium-term outlook. UNIQA Insurance Group (UQA.AV) reports 9M net income €224.5M, +2% y/y.

    • In the UK, Virgin Money UK (VMUK.LN), LondonMetric Property (LMP.LN), MITIE Group (MTO.LN), FirstGroup (FGP.LN) are expected to update the market with their respective earnings/trading updates.

  • Politics/Macro/World News

    • EU and Canada preparing show of friendship at joint summit - FT

    • Dutch far-right leader Wilders scores shock election victory - Bloomberg

    • ECB's Nagel: rates at peak or close, rules out hard landing - Reuters

    • UK Autumn Statement: Jeremy Hunt cuts National Insurance but tax burden still rises - BBC

    • Hungary's Viktor Orbán threatens to blow up EU's Ukraine policy - Politico

  • Top company news

    • Earnings/updates

      • Benelux

        • ACKB.BB (Ackermans & Van Haaren) -- reports Q3 trading update: well on track to post a solid set of FY23 results

        • GIMB.BB (Gimv) -- reports H1 NAVPS €51.3, +6% vs year-ago €48.2

      • DACHs

        • POS.AV (PORR) -- reports Q3 EPS €0.74 vs year-ago €0.56

        • D9N0.GR (Carlo Gavazzi Holding) -- reports H1 net income €12.3M, (11%) vs year-ago €13.8M

        • NFN.GR (NFON) -- reports 9M Adjusted EBITDA €6.0M vs year-ago (€0.8M); tweaks up FY 2023 adjusted EBITDA forecast

        • A1OS.GR (All for One Group) -- reports preliminary FY EBIT €17.7M ex-items vs prior guidance €17.5-21.5M and FactSet €16.5M [2 est, €14.0-18.9M]

        • UQA.AV (UNIQA Insurance Group) -- reports 9M net income €224.5M, +2% vs year-ago €219.1M

      • Nordics

        • LAT1V.FH (Lassila & Tikanoja) -- keeps long-term financial targets unchanged -- CMD

        • HUNT.NO (Hunter Group) -- reports Q3 net income $0.38M vs year-ago $5.78M

    • M&A

      • EURN.BB (Euronav) -- Frontline completes sale of its stake in Euronav to CMB

      • SBB.B.SS (Samhällsbyggnadsbolaget i Norden) -- completes EduCo transaction with Brookfield

      • UPONOR.FH (Uponor) -- Georg Fischer announces 2.4M Uponor shares were tendered during subsequent offer period representing ~ 3.3% of all Uponor shares and voting rights

    • Healthcare

      • BAYN.GR (Bayer AG) -- Bayer holds investor call amid doubts the company was upfront about its prospects ahead of bond issuance - Reuters

    • Other

      • STLA.IM (Stellantis) -- recalls 32K US plug-in hybrid SUVs due to fire risk

        • to repurchase €934M in shares from Dongfeng, in accordance with pre-existing share repurchase framework

      • EL.FP (EssilorLuxottica) -- EssilorLuxottica, Moncler sign exclusive licensing agreement that includes design, production, and global distribution of Moncler eyewear

      • TTE.FP (TotalEnergies) -- operated Egina oil field in Nigeria experiences oil spill; gov't says it is under control - Reuters

      • Fincantieri announces €260M supports services contract with Egypt

      • KOA.NO (Kongsberg Automotive) -- wins a contract worth over €32M in estimated lifetime revenue

      • VIVE.SS (Vivesto) -- Vivesto and Elevar terminate Apealea partnership

  • Key rating changes

    • Upgrades

      • AAL.LN (Anglo American) -- to buy from hold at Deutsche Bank

      • TELIA.SS Telia Co. upgraded to buy from hold at Carnegie Securities

    • Initiations

      • OX2.SS (OX2 AB) -- buy at Deutsche Bank

      • AUTO.NO (AutoStore Holdings) -- hold at Arctic Securities

      • OX2.SS (OX2 AB) -- buy at Deutsche Bank

    • Other Actions

      • ATS.AV (AT & S Austria Technologie & Systemtechnik) -- resumed hold at Kepler Cheuvreux; prior rating was hold

  • Data

    • Nikkei +0.00% to 33451.83

    • Hang Seng +0.40% to 17806.19

    • Shanghai Composite +0.55% to 3060.44

    • S&P futures +2.8 vs prior close of 4567.3

    • €-$ +0.0021 or +0.19% to 1.0910

    • $-¥ (0.51) or (0.34%) to 149.04

    • €-¥ (0.27) or (0.17%) to 162.57

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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