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 - Europe Pre-Open: FTSE flat, DAX +0.3%, CAC flat

Jan 02 ,2024

  • Synopsis

    • European equity markets are set to open flat to higher as the new year of trading gets underway. STOXX 600 ended the fourth quarter with gains of 6.4%, leaving gains of 12.7% on the year, which is the best performance since 2021. FTSE 100 lagged with 1.7% increase on the quarter and 3.8% on the year as sterling rose ~6% against the dollar in 2023 (best performance since 2017)

    • Central bank rate cut expectations, soft landing momentum and easing financial conditions continue to underpin markets. Reuters notes futures pricing continues to point to a roughly 85% chance the Fed will start to ease rates in March, according to the CME FedWatch tool, while more than 150 basis points of rate cuts from the European Central Bank have similarly been priced in for all of 2024, and roughly 140 bps from the Bank of England. A FT survey of economists predicts the ECB will begin cutting rates in the second quarter of 2024.

    • Asian equities trading mixed Tuesday. Mixed reads on China manufacturing sector with official PMIs showing activity shrunk at fastest pace in six months as new order and new export declines deepened. Non-manufacturing activity firmed, as stronger construction activity offset services sector weakness. Caixin manufacturing PMI unexpectedly firmed amid stronger increases in output and new orders and reports of firmer demand. Magnitude 7.6 earthquake struck Sea of Japan, triggering tsunami warning leading to spike in spot power prices.

    • Macro data releases in Europe include Italy/Norway/Spain/Sweden manufacturing PMIs with final reads for Eurozone/France/Germany/UK, Eurozone Nov M3 money supply, UK Dec house price index - Nationwide

    • Oil prices moving higher. Focus on news Iran has sent a warship to the Red Sea in response to the US Navy's sinking of three Houthi boats over the weekend. (Bloomberg, CNBC)

    • In corporate news highlights, Nokia (NOKIA.FH) has guided it will not meet its 2023 financial outlook for sales, comparable OM, FCF. Danone (BN.FP) to sell majority of Horizon Organic, Wallaby to Platinum Equity; terms undisclosed. ASML (ASML.NA) confirms Dutch government partially revoked its export license for some lithography systems

  • Macro/politics

    • UK economy will enter 'grey gloom' until polling day, economists say - FT

    • UK Property Becoming More Affordable at Quickest Pace In Decades - Bloomberg

    • UK food inflation falls in December as shops roll out seasonal offers - FT

  • Top company news

    • Earnings/updates

      • NOKIA.FH (Nokia) -- guides it will not meet its 2023 financial outlook for sales, comparable OM, FCF

      • VLA.FP (Valneva) -- updates 2023 financial guidance

      • SBO.NO (Selvaag Bolig) -- sold 435 homes with a total value of NOK 2.58B in 2023 vs year-ago 561 homes gross worth NOK 2.96B

    • M&A

      • BN.FP (Danone) -- to sell majority of Horizon Organic, Wallaby to Platinum Equity; terms undisclosed

      • GLPG.NA (Galapagos) -- signs agreement to transfer Jyseleca business to Alfasigma for €50M upfront payment and potential sales-based milestone payments totaling €120M

      • LMDX (LumiraDX) -- announces agreement to sell its point of CARE technology platform to Roche

      • XLS.SW (Xlife Sciences) -- portfolio company VERAXA Biotech AG acquires Synimmune GmbH to expand cancer pipeline

      • OHB.GR (OHB SE) -- KKR discloses 9.94% holding in OHB SE as of 22-Dec

    • Other

      • ASML.NA (ASML Holding) -- ASML confirms Dutch government partially revoked its export license for some lithography systems

      • MKS.LN (Marks & Spencer Group) -- Chairman: Marks & Spencer needs to become global brand at some point - Sunday Times

      • WPP.LN (WPP Group) -- WPP likely to choose outsider as new chairman - Sky News

      • BNP.FP (BNP Paribas) -- to pay CLCV €400-600M compensation for misleading mortgage practices - Le Parisien, seemingly citing sources

      • HL.LN (Hargreaves Lansdown) -- Point72 latest fund to bet against Hargreaves Lansdown - London Times

      • Estimated (four-day) weekend box office revenues in US, Canada $143.3M, +5.4% y/y - Box Office Mojo

  • Key rating changes

    • Upgrades

      • MKS.LN (Marks & Spencer) -- to outperform from neutral at BNP Paribas Exane

      • EZJ.LN (easyJet) -- to neutral from sell at Citi

    • Downgrades

      • BOO.LN (Boohoo) -- to underperform from neutral at BNP Paribas Exane

      • REP.SM Repsol downgraded to market perform from outperform at Bernstein

      • SINCH.SS (Sinch) -- to Underperform from Neutral at Nextgen Research LTD

      • LHA.GR (Lufthansa) -- to sell from neutral at Citi

  • Data

    • Nikkei +0.00% to 33464.17

    • Hang Seng (1.78%) to 16743.78

    • Shanghai Composite (0.33%) to 2965.14

    • S&P futures +1.3 vs prior close of 4820.0

    • €-$ (0.0017) or (0.15%) to 1.1030

    • $-¥ +0.65 or +0.46% to 141.53

    • €-¥ +0.43 or +0.28% to 156.10

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