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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE (0.18%), DAX30 (0.22%), CAC40 (0.20%)

Jan 03 ,2024

  • Synopsis

    • European equity market futures point to a lower open amidst negative markets in Asia on Wednesday. Seoul seeing the worst of the selling and is more than 2% lower, steep losses in Taipei too. Hang Seng leading Greater China lower but it is currently off its lows. Australia closed lower, India down for the second consecutive day. Southeast Asia all lower. Japan markets remained closed. US futures lower. US dollar holding overnight gains, Asia currencies steady.

    • A very light morning for corporate news. No earnings scheduled as ATOS (ATO.FP) confirmed press reports it is in discussions with Airbus (AIR.FP) for the sale of BDS unit for €1.5B-1.8B (EV basis). Company also updated on Tech Foundations sale and bank financing. Elsewhere, SoftwareOne (SWON.SW) acquires Spanish SAP and cloud services provider Novis Euforia and Avance Gas (AGAS.NO) agrees $66M sale of 2008-built Venus Glory at estimated $27M profit

    • On the macro front, Germany Dec unemployment change, Switzerland Dec manufacturing PMI and Spain Dec unemployment change are due to be released. Also out are Kantar's latest UK grocery market share figures and update on inflation, for the 12 weeks ending 24-Dec.

  • Macro

    • UK:

      • UK Executives Urge BOE to Cut Rates After Confidence Sinks Lower - Bloomberg

      • Tens of thousands face NHS cancellations as six-day strike begins in England - Guardian

      • Less than a third of UK's £4.2bn housebuilding fund spent - FT

  • Top company news

    • M&A

      • ATO.FP (ATOS SE) -- Airbus preparing €1.5-1.8B offer for ATOS' BDS - FT

      • SWON.SW (SoftwareONE Holding) -- acquires Novis Euforia, a Spanish SAP and cloud services provider; financial details not disclosed

      • SLIGR.NA (Sligro Food Group) -- completes acquisition of part of Simon Loos Transport B.V.'s current transport activities

      • SECARE.SS (Swedencare) -- Swedencare's Pet MD Brands acquires American brand Riley's Organics for $7.5M (SEK 78.4M)

      • AGAS.NO (Avance Gas Holding) -- agrees $66M sale of 2008-built Venus Glory at estimated $27M profit

      • EQS.FP (Equasens Group) -- acquires 70% majority stake in DIGIPHARMACIE

    • Healthcare

      • SCYX (Scynexis) -- discloses binding MoU with GlaxoSmithKline to amend BREXAFEMME licensing agreement - 8-K

      • SEQUA.BB (Sequana Medical) -- announces US CPT III reimbursement codes for the alfapump system

    • Other

      • NDX1.GR (Nordex Group) -- receives orders for 553 MW from Sweden

  • Key rating changes

    • Upgrades

      • HSBC upgrades KBC.BB; downgrades ABN.NA

      • Jefferies upgrades GSK, GSK.LN; downgrades AZN, AZN.LN

      • MAERSK.B.DC (Maersk) -- to neutral from sell at Goldman Sachs

      • TOP.DC (Topdanmark) -- to hold from underperform at Jefferies

      • VPLAY.A.SS (Viaplay Group) -- to hold from underperform at Jefferies

    • Downgrades

      • BRBY.LN (Burberry Group) -- hold from buy at Stifel

      • TECN.SW (Tecan Group) -- to Add from Buy at Baader Helvea

      • TEL2.B.SS (Tele2) -- Tele2 short-term recommendation downgraded to hold from buy at Handelsbanken

      • MYCR.SS (Mycronic) -- Mycronic short-term recommendation downgraded to hold from buy at Handelsbanken

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

    • Other Actions:

      • AG1.GR (Auto1 Group) -- initiated underweight at Morgan Stanley

  • Data

    • Nikkei closed

    • Hang Seng (1.00%) to 16621.43

    • Shanghai Composite +0.15% to 2966.63

    • S&P futures (2.3) vs prior close of 4787.3

    • €-$ +0.0022 or +0.20% to 1.0959

    • $-¥ +0.12 or +0.08% to 142.11

    • €-¥ +0.39 or +0.25% to 155.76

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.
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