Leaving BNY Website

 

You are leaving the BNY Mellon's Depositary Receipts' Website.
Linked sites are not under the control of The Bank of New York Mellon Corporation or any of its subsidiaries or affiliates (together, the "Company") and the Company is not responsible for the content of any linked site or any link contained in a linked site. If you choose to link to a website not controlled by the Company, you do so entirely at your own risk and the Company makes no warranties, either express or implied, concerning the content of such site, including the accuracy, completeness, reliability or suitability thereof for any particular purpose, nor does the Company warrant that such site or content is free from any claims of copyright, trademark or other infringement of the rights of third parties or that such site or content is devoid of viruses or other contamination. The Company does not guarantee the authenticity of documents on the Internet. Links to other sites do not imply any endorsement of or responsibility for the opinions, ideas, products, information or services offered at such sites, or any representation regarding the content at such sites. The Company reserves the right to terminate any link at any time.

Do you wish to continue to the linked site on these terms?

Stay On Page
Leave Page

© 2025 The Bank of New York Mellon Corporation

Depositary Receipt business and services are conducted through The Bank of New York Mellon.

BNY - DR Legal Disclaimer
  

To learn more about DRs, please contact DRBrokerSolutions@bny.com.

 

The information and data provided herein are provided for general informational purposes only.  BNY does not warrant or guarantee the accuracy, timeliness or completeness of any such information or data.  BNY does not undertake any obligation to update or amend any information or data, and may change, update or amend any information or data at any time without prior notice.

 

BNY provides no advice, recommendation or endorsement with respect to any company or securities.  No information or data is intended to provide legal, tax, accounting, investment, financial, trading or other advice on any matter, and is not to be used as such.  We expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon any information or data, including market value loss on the sale or purchase of securities or other instruments or obligations.

 

Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.

 

BNY collects fees from DR holders pursuant to the terms and conditions of the DRs and any deposit agreement under which they are issued.  From time to time, BNY may make payments to an issuer to reimburse and/or share revenue from the fees collected from DR holders, or waive fees and expenses to an issuer for services provided, generally related to costs and expenses arising out of establishment and maintenance of the DR program.  BNY may pay a rebate to brokers in connection with unsponsored DR issuances; brokers may or may not disclose or pass back some or all of such rebate to the DR investor.  BNY may also use brokers, dealers or other service providers that are affiliates and that may earn or share fees and commissions.

 

BNY may execute DR foreign currency transactions itself or through its affiliates, or the Custodian or the underlying Company may execute foreign currency transactions and pay US dollars to BNY.  In those instances where it executes DR foreign currency transactions itself or through its affiliates, BNY acts as principal counterparty and not as agent, advisor, broker or fiduciary.  In such cases, BNY  has no obligation to obtain the most favorable exchange rate, makes no representation that the rate is a favorable rate and will not be liable for any direct or indirect losses associated with the rate. BNY earns and retains revenue on its executed foreign currency transactions based on, among other things, the difference between the rate it assigns to the transaction and the rate that it pays and receives for purchases and sales of currencies when buying or selling foreign currency for its own account.  The methodology used by BNY to determine DR conversion rates is available to registered Owners upon request or can be accessed here.  In those instances where BNY's Custodian executes DR foreign currency transactions, the Custodian has no obligation to obtain the most favorable exchange rate or that the method by which the rate will be determined will be the most favorable rate, and BNY makes no representation that the rate is a favorable rate and will not be liable for any direct or indirect losses associated with the rate.  In certain instances, BNY may receive dividends and other distributions from an issuer of securities underlying DRs in U.S. dollars rather than in a foreign currency.  In such cases, BNY will not engage in or be responsible for any foreign currency transactions and it makes no representation that the rate obtained by an issuer is a favorable rate and it will not be liable for any direct or indirect losses associated with the rate.

 

BNY is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle.  BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).

 

BNY's name, brand and/or trademarks may not be used, copied or reproduced without the prior express written consent of BNY.

 

DEPOSITARY RECEIPTS ARE NOT INSURED BY THE FDIC OR ANY OTHER GOVERNMENT AGENCY, ARE NOT DEPOSITS OR OTHER OBLIGATIONS OF, AND ARE NOT GUARANTEED BY, BNY AND ARE SUBJECT TO INVESTMENT RISKS INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED.

 

Please also see "Terms of Use."

ACCEPT

Please enable cookies in your browser if you wish to proceed.

Regulation S Disclaimer

 

Access To This Company Profile Is Restricted To Non-U.S. Persons Outside The United States Within The Meaning Of Regulation S Under The U.S. Securities Act Of 1933, As Amended (The "Securities Act").1

 

This company profile does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction or under any circumstances in which such offer or solicitation is unlawful.

 

Each person accessing this company profile, by so doing, will be deemed to have acknowledged that: (1) It is not a U.S. person (within the meaning of Regulation S under the Securities Act) and is located outside the U.S. (within the meaning of Regulation S under the Securities Act); and (2) Any securities described herein (A) have not been and will not be registered under the Securities Act or with any securities regulatory authority of any state or other jurisdiction and (B) may not be offered, sold, pledged or otherwise transferred except to persons outside the U.S. in accordance with Regulation S under the Securities Act pursuant to the terms of such securities.

 

If you agree with and accept the foregoing and the Terms of use governing this site, please select "Accept" below. Otherwise, press "Decline" to return to the previous page.

 

1 As defined in the Securities Act, the term "U.S Person" means: (1) any natural person resident in the United States; (2) any partnership or corporation organized or incorporated under the laws of the United States; (3) any estate of which any executor or administrator is a U.S. person; (4) any trust of which any trustee is a U.S. person; (5) any agency or branch of a foreign entity located in the United States; (6) any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. person; (7) any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and (8) any partnership or corporation if: (A) organized or incorporated under the laws of any foreign jurisdiction; and (B) formed by a U.S. person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a)) who are not natural persons, estates or trusts.

I Accept Decline

© 2024 The Bank of New York Mellon Corporation
Depositary Receipt business and services are conducted through The Bank of New York Mellon.

Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.34% to 7515.38, DAX +0.75% to 16656.44, CAC40 +0.66% to 7435.99, STOXX 600 +0.52% to 470.06

Dec 06 ,2023

  • Synopsis:

    • European indices ended the session higher. In sectors, travel/leisure and auto/parts outperform, whilst energy the outsized laggard.

    • Sentiment broadly supported by further drop in bond yields following soft US labor data, which provided further support to soft landing, disinflation and peak Fed narratives that have been a key component of the risk rally. However, there have also been a pickup in discussion about potential dot plot pushback against ~125 bp+ of Fed rate cuts priced in for 2024. Eurozone money market pricing in 150 bps of ECB rate cuts next year after yesterday's Schnabel comments and weak data. ECB hawk Kazimir said rate cut in Q1 2024 "science fiction".

    • Attention today on EU plans to include a debt-reduction target as part of its fiscal reforms. The proposal envisages countries cutting debt as a proportion of GDP by an average of 1% a year over an adjustment period while it exceeds 90% of GDP. EU source said member states would also need a fiscal buffer of 1.5% of GDP below the EU's deficit threshold of 3%. The plan will be considered at a summit later this week. It is more demanding than the Commission proposal while leaving flexibility to finance green transition and support military spending. EU finance ministers are pushing to reach a solution before 1-Jan when former fiscal rules come back into. France and Germany have been pushing for a compromise, but Italy said it would not back rules it cannot meet, Reuters reports. Germany backs high-debt countries to cut debt every year by at least 1%, but Italy said overly strict adjustment would undermine growth and worsen medium-term debt trends.

    • Macro data on the calendar included Germany Oct Factory Orders (3.7%) m/m vs consensus +0.2% and prior revised +0.7% from +0.2%; Germany Nov construction PMI missed and below prior at 36.2 vs consensus 39.0 and prior 38.3, along with UK reading 45.5 vs consensus 46.3 and prior 45.6. Eurozone Oct retail sales +0.1% m/m vs consensus +0.2% and prior revised (0.1%) from (0.3%), equating to (1.2%) y/y vs consensus (1.1%) and prior (2.9%).

    • In earnings news, in the DACHs region, Clariant (CLN.SW) announced it will shut its sunliquid bioethanol plant in Romania, creating a cash impact for FY23 and FY24. It also cut FY23 EBITDA guidance to CHF 570-600M vs prior guidance of CHF 650-700M and FactSet CHF655.86M. Ascom Holding (ASCN.SW) announced it is now expecting mid-single digit revenue growth at constant currencies for the FY23 vs prior Revenue growth of around 10% at current currencies. In France, Airbus (AIR.FP) reported November gross orders of 113 aircraft and deliveries of 64 aircraft. In Nordics, Clas Ohlson (CLA.B.SS), BlueNord (BNOR.NO), Norwegian Air Shuttle (NAS.NO), Bufab (BUFAB.SS) and Alimak Group (ALIG.SS) updated investors with their latest numbers. In Belgium, Sipef (SIP.BB) published its estimated impact of the eruption of the Mount Ulawun volcano in Papua New Guinea, indicating that the group's projected recurring annual result in 2023 will continue to fluctuate between $65-75M. Perhaps it will be in the middle of the fork rather than at the top. Moreover, the company clarified that the total financial impact on 2024 profit, after tax, would be a decrease of a maximum of $14.7M. In the UK, British American Tobacco (BATS.LN), Weir Group (WEIR.LN), Redde Northgate (REDD.LN), Rio Tinto (RIO.LN), TUI Group (TUI.LN) and Serica Energy (SQZ.LN) are among other companies from the region to update investors with their latest numbers.

    • Looking ahead to tomorrow's EU econ-calendar, notable releases will include, amongst others, Germany Oct industrial production, Italy Oct industrial production, retail sales, Eurozone Q3 final GDP, France Oct trade balance and UK Nov house price index - Halifax.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers

        • Travel & Leisure +2.33%, Autos & Parts +2.20%, Basic Resources +1.57%, Real Estate+1.30%, Financial Svcs +1.29%, Ind Goods & Svcs +1.29%, Construct & Mtls +1.14%, Banks +1.06%, Technology +1.05%, Chemicals +0.97%, Insurance +0.94%, Utilities +0.83%, Telecom +0.64%

      • Underperformers

        • Oil & Gas (0.89%), Food & Beverage (0.17%), Health Care (0.15%), Retail +0.16%, Persnl & HHold Goods +0.17%, Media +0.40%

    • Macro:

      • Central banks

        • Investors bet on rapid ECB rate cuts as economic outlook darkens -- FT

        • BOE Says Far Fewer UK Households Will Struggle With Their Debts -- Bloomberg

      • EU

        • AI: EU holds crunch talks on landmark regulation -- DW

      • UK

        • UK construction activity contracts for third month in a row -- FT

      • Germany

        • Germany's budget crisis: No clear way forward after coalition misses deadline-- Politico

      • Italy:

        • Italy tells China it is leaving Belt and Road Initiative -- Reuters

    • Company news:

      • Notable Gainers

        • +31.9% TEG.LN (Ten Entertainment Group £4.08, +0.99) -- Neon Buyer Limited reaches agreement with Ten Entertainment Group for takeover offer at £287M

        • +25.8% WEN.LN (Wentworth Resources £0.31, +0.06) -- updates on offer from Maurel & Prom

        • +15.4% CLAS.B.SS (Clas Ohlson SEK143.70, +20.10) -- Q2 earnings

        • +13.1% IKA.LN (Ilika Plc £0.52, +0.06) -- reaches 2023 intermediate technology development target of lithium-ion energy density parity

        • +10.2% DOCM.SW (DocMorris CHF65.40, +6.35) -- resumed buy at Stifel

        • +9.0% PAG.LN (Paragon Banking Group £5.34, +0.44) -- FY earnings; £50.0M share buyback

        • +7.8% RDC.GR (Redcare Pharmacy €129.20, +9.80) -- resumed buy at Stifel

        • +7.5% LIKE.LN (Likewise Group £0.18, +0.01) -- trading update

        • +7.2% ORP.FP (Orpea €0.01, -0.00) -- launch of a share capital increase

        • +6.4% BHG.SS (BHG Group SEK12.91, +0.80) -- holder EQT has sold its entire remaining holding of 21.9M shares

        • +6.2% AFX.GR (Carl Zeiss Meditec €82.68, +5.06) -- Metzler Capital Markets upgrade

        • +5.8% REDD.LN (Redde Northgate £3.81, +0.21) -- H1 earnings

        • +4.8% SKIS.B.SS (SkiStar SEK118.70, +5.40) -- Nordea upgrade

        • +4.6% BUFAB.SS (Bufab SEK332.60, +14.80) -- CMD update

        • +4.3% MIRI.LN (Mirriad Advertising £0.02, -0.00) -- US and Latin America update

        • +4.3% BCG.LN (Baltic Classifieds Group £2.13, +0.09) -- H1 earnings

        • +4.0% NAS.NO (Norwegian Air Shuttle NOK10.47, +0.41) -- Nov traffic

        • +3.2% SKF.B.SS (SKF SEK199.70, +6.30) -- BNP Paribas Exane ugrade

        • +2.5% OCDO.LN (Ocado Group £6.12, +0.15) -- JPMorgan upgrade

        • +2.3% KSB.GR (KSB €670.00, +15.00) -- added to SDAX

        • +2.2% WEIR.LN (Weir Group £19.53, +0.41) -- CMD update

        • +1.8% SAX.GR (Ströer €55.50, +0.95) -- JPMorgan upgrade

      • Notable Decliners

        • -13.0% MRK.GR (Merck KGaA €139.40, -21.10) -- Phase III trial results for evobrutinib in relapsing multiple sclerosis did not meet primary endpoint; HSBC downgrade

        • -9.9% CI.SS (Cell Impact SEK0.36, -0.04) -- final outcome of it's rights issue

        • -7.6% BATS.LN (British American Tobacco £22.96, -1.90) -- trading and strategic update

        • -5.3% NCC.B.SS (NCC SEK109.90, -6.10) -- holder Nordstjernan sold 6.0M shares in NCC at SEK 107/share

        • -5.3% MAU.FP (Maurel et Prom €6.04, -0.33) -- Wentworth Resources issues update on offer from Maurel & Prom

        • -4.3% IMMU.SS (Mendus SEK0.66, -0.03) -- to expand clinical testing of vididencel as maintenance treatment for AML

        • -4.2% WHA.NA (Wereldhave €14.69, -0.64) -- acquires shopping center Polderplein in Hoofddorp for €74M; completes placement of 3.6M new shares

        • -3.6% SAS.SS (SAS SEK0.03, -0.00) -- IATA global market passenger air traffic +31.2% y/y in Oct

        • -3.5% VER.AV (Verbund €86.90, -3.10) -- Societe Generale downgrade

        • -2.8% NEL.NO (NEL ASA NOK7.70, -0.23) -- Morgan Stanley downgrade

        • -1.9% AG1.AV (Auto1 Group €5.44, -0.10) -- JPMorgan downgrade

        • -1.8% HM.B.SS (H&M Hennes & Mauritz SEK169.72, -3.14) -- Deutsche Bank downgrade

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Zumtobel Group (ZAG.AV)

        • Nordics: Systemair (SYSR.SS)

        • UK: DS Smith (SMDS.LN), Watches of Switzerland (WOSG.LN), AJ Bell (AJB.LN)

      • Trading Update: Balfour Beatty (BBY.LN)

  • Data:

    • Economics:

      • Eurozone Oct Retail Sales (1.2%) y/y vs consensus (1.1%) and prior (2.9%)

      • Germany

        • Oct Factory Orders m/m (3.7%) vs consensus +0.2% and prior revised to +0.7% from +0.2%

        • Nov Construction PMI 36.2 vs consensus 39.0 and prior 38.3

      • UK Nov Construction PMI 45.5 vs consensus 46.3 and prior 45.6

      • Ireland Nov Unemployment Rate 4.8% vs consensus 5.0% and prior revised 4.7% from 4.8%

      • Greece Q3 GDP +2.1% y/y vs consensus +1.9% and prior revised +2.6% from +2.7%

    • Markets:

      • WTI Crude (24-Jan): ($2.73) or (3.77%) to $69.59

      • €-$ (0.0011) or (0.10%) to 1.0786

      • £-$ (0.0010) or (0.08%) to 1.2585

      • €-£ (0.0004) to 0.8571

      • S&P 500 (0.04%)

      • Performance year-to-date:

        • FTSE 100: +0.85%

        • DAX: +19.63%

        • CAC: +14.86%

        • MIB: +28.07%

        • Stoxx 600: +10.63%

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".

DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE