Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.18%), DAX30 (0.09%), CAC40 +0.27%

Dec 22 ,2023

  • Synopsis

    • European indices are set to open mixed as Christmas holidays begin with UK and Ireland markets closing early at 12:30GMT.

    • Asian equities are trading mixed. Japan's markets set to close higher to track Wall Street's overnight gains. Australia was flat. Hang Seng lower from earlier gains following new restrictions placed on gaming companies; mainland stocks also lower.

    • US equities ended higher on Thursday, near best levels. Comes after stocks came under notable pressure on Wednesday in a late-day selloff; S&P suffered biggest pullback since September and DJIA and Nasdaq both snapped nine-day winning streaks. Initial jobless claims rose slightly w/w but came in below consensus. Continuing claims largely in line, coming off mid-November's peak levels.

    • In Macro: UK Nov Retail Sales +0.1% y/y vs consensus (1.3%) and prior revised (2.5%) from (2.4%). UK Q3 GDP +0.3% y/y vs preliminary +0.6%. Denmark Nov Retail Sales +6.3% y/y vs consensus +4.0%. Denmark Q3 final GDP (0.7%) q/q vs 2nd estimate (0.1%).

    • Macroeconomic releases due today include: UK Nov car production. France Dec consumer confidence, Nov PPI, Spain Q3 final GDP, Italy Dec business/consumer confidence, Netherlands Q3 final GDP, unemployment rate, retail sales, Belgium Dec CPI, Ireland Nov PPI

    • In corporate news: (ORA.FP) Orange receives offer for Orange bank from Ripplewood -- Le Figaro

  • Politics/Macro/World News

    • The 11 Big Trades of 2023: From Market Busts to Career-Making Wins (Bloomberg)

    • China bans export of rare earths processing tech over national security (Reuters)

    • Strike that disrupted Eurotunnel and Eurostar ends (BBC)

  • Top company news

    • Earnings/updates

      • BHG.SS (BHG Group) -- continues to consolidate and simplify the structure to improve profitability and competitiveness; will reduce cost by SEK 30M on an annual basis in 2024

    • M&A

      • TTE.FP (TotalEnergies) -- signs an agreement with Thailand's national oil and gas company PTTEP for the sale of a 25.5% equity stake in the Seagreen offshore wind farm for a consideration of £522M ($689M)

      • NXI.FP (Nexity) -- enters into exclusive negotiations with Bridgepoint to sell its retail service activities

      • MAU.FP (Maurel et Prom) -- completes the acquisition of Wentworth Resources

      • HSBA.LN (HSBC Holdings) -- Canadian government to approve Royal Bank of Canada's acquisition of HSBC Canada - Bloomberg

      • HSBA.LN (HSBC Holdings) -- Royal Bank of Canada confirms receipt of Canadian government approval to proceed with acquisition of HSBC Canada

      • CRH.LN (CRH plc) -- CRH's Oldcastle APG acquires Waupaca Northwoods' Nampa facility

      • RI.FP (Pernod Ricard) -- to sell the Becherovka brand and related assets to Maspex Group for an undisclosed sum

      • RWE.GR (RWE) -- acquires 4.2-gigawatt UK offshore wind development portfolio from Vattenfall

      • BFIT.NA (Basic-Fit) -- intends to acquire 47 Spanish clubs of RSG Group

      • SHA.GR (Schaeffler) -- expects cost efficiency to become even more important in the coming years amid competition from Chinese EV makers - FT

      • EQT.SS (EQT AB) -- to acquire majority stake in Indium Software; terms undisclosed

      • NAS.NO (Norwegian Air Shuttle) -- receives Norwegian Competition Authority approval to acquire Wideroe

      • 500257.IN (Lupin Ltd) -- enters asset purchase agreement for AARANE, NALCROM with Sanofi for €10M (INR910M) cash

      • DLG.IM (De'Longhi) -- announces business combination between Eversys and La Marzocco

      • EVE.SW (Evolva Holding) -- Shareholders approve sale of Evolva AG to Lallemand Inc. Swiss subsidiary at extraordinary general meeting; closing is expected to occur on 28-Dec

      • ALSN.SW (ALSO Holding) -- buys three companies in Czech Republic, Slovakia; terms undisclosed

      • EPRO.B.SS (Electrolux Professional) -- to acquire Tosei Corporation for SEK1.65B (¥23.25B)

      • BEIA.B.SS (Beijer Alma) -- Beijer Alma's subsidiary Lesjöfors divests Stumpp & Schüle

      • BSS.IM (Biesse) -- agrees to acquire GMM Group for equity value €72M

      • RAP1V.FH (Rapala VMC) -- completes acquisition of 13 Fishing; purchases remaining shares of DQC international

    • Healthcare

      • AZN.LN (AstraZeneca) -- and Ionis note FDA approval of WAINUA for treatment of ATTRv-PN

      • IONS (Ionis Pharmaceuticals) -- FDA approves Ionis' eplontersen for the treatment of ATTRv-PN -- website

      • 6AP0.GR (Neurogene) -- Neurogene, Inc. SEC filing: SC 13D (Filed by McMinn Rachel)

      • ^HEALTH (Healthcare sector summaries) -- StreetAccount Sector Summary - Healthcare Post-Market

      • POXEL.FP (Poxel) -- focused on securing additional financing; entered into a new cost-saving plan

      • MITRA.BB (Mithra Pharmaceuticals) -- and Rafa Laboratories sign binding Head of Terms to commercialize DONESTA in Israel

      • SFL.IM (Safilo Group) -- communicates the interruption of the licensing agreement with the CHIARA FERRAGNI brand

    • Other

      • DBK.GR (Deutsche Bank) -- discovers thousands of unresolved complaints in Postbank - FT

      • ELUX.B.SS (Electrolux) -- CORRECTION: Electrolux Professional to acquire Tosei Corporation for SEK1.65B (¥23.25B)

      • BA.LN (BAE Systems) -- awarded $86.8M U.S. NAVY IDIQ contract

      • DG.FP (VINCI SA) -- VINCI implements share buyback program within the limit of €600M

      • BAER.SW (Julius Baer Group) -- Follow-up: FINMA investigating Julius Baer over risk lapses related to Signa insolvency - Bloomberg

      • LXS.GR (Lanxess) -- CORRECTION: Lanxess downgraded to hold from buy at Alster Research (intra-day 21-Dec

      • NEOEN.FP (Neoen) -- signs contract in NSW and launches construction of 440 MWp Culcairn Solar Farm in Australia

      • MOL.HB (MOL Hungarian Oil & Gas) -- reports first gas reached in Rozhkovskoye field, Kazakhstan

      • UK November car manufacturing +14.8% y/y to 91,923 units - SMMT

  • Key rating changes

    • Downgrades

      • LXS.GR (Lanxess) -- to hold from buy at Alster Research (intra-day 21-Dec)

      • PFC.LN (Petrofac) -- Petrofac reinstated hold at Peel Hunt; prior rating was buy

      • NOLA.B.SS (Nolato) -- to hold from buy at SEB

  • Data

    • Nikkei +0.09% to 33169.05

    • Hang Seng (1.68%) to 16342.68

    • Shanghai Composite (0.17%) to 2913.82

    • S&P futures (7.5) vs prior close of 4796.8

    • €-$ (0.0011) or (0.10%) to 1.1001

    • $-¥ +0.19 or +0.14% to 142.31

    • €-¥ +0.03 or +0.02% to 156.51

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