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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.34%, DAX30 (0.38%), CAC40 +0.86%

Jan 26 ,2024

  • Synopsis

    • European indices are set to open mixed today. Germany Feb GfK Consumer Confidence came out at (29.7) vs consensus (24.5). US equity futures under pressure with S&P off 0.4%

    • Asia equities trading lower Friday. Japan to close sharply lower to bring a weekly loss. Greater China markets all lower with losses on Hang Seng accelerating in the afternoon session. Seoul slightly higher, Taipei flat.

    • US equities finished higher in Thursday trading, ending back near session highs. S&P and Nasdaq logged their sixth straight session of gains. Small caps rebounded after trailing Wednesday. Tesla shares fell after releasing Q4 results after the company missed on both top and bottom lines

    • Yesterday after the close (MC.FP) LVMH Moet Hennessy Louis Vuitton reported FY net income €15.17B vs FactSet €15.71B.

    • Friday sees International Climate Forum of the Hamburg economy; speakers include EU's von der Leyen at 10.15CET. In the UK, there is a debate in the Lords on the current situation in Ukraine. In the morning Chancellor Scholz speech/panellist at network meeting of the 'Alliance of Opportunities' and in the afternoon, will meet with the members of the Future Council for the fourth meeting.

    • In central banks, ECB publishes at 10:00CET its latest survey of professional forecasters.

    • Macroeconomic releases: Sweden Dec Trade Balance SEK3.8B vs consensus SEK 12.0B and prior revised SEK12.1B from SEK 12.7B

    • Other Economics today include: France Jan consumer confidence, Norway Dec retail sales, Spain Q4 unemployment rate, Eurozone Dec M3 money supply, UK Jan consumer confidence - GfK

    • Notable earnings released this morning: (RCO.FP) Remy Cointreau reports Q3 revenue €319.9M vs consensus €322.1M; guides FY24 and confirms FY29-30 objectives. (DIM.FP) Sartorius Stedim Biotech reports FY EPS €4.19 ex-items vs FactSet €4.35 [14 est, €3.84-5.08. (PNL.NA) PostNL expects preliminary FY normalized EBIT €92M vs last guidance for low end of €100-130M range; FactSet EBIT €98.3M [6 est, €83-119.9M]. (LIGHT.NA) Signify reports Q4 net income €59M vs consensus €104M. (SRT3.GR) Sartorius reports FY EPS €4.94 vs FactSet €4.98 [16 est, €3.45-6.08]; guides FY24 and issues FY28 outlook. (LONN.SW) Lonza Group reports FY core EPS CHF12.39 vs consensus CHF13.43. (SGSN.SW) SGS reports FY adjusted EPS CHF3.48 vs StreetAccount CHF3.57

    • Other: The CHMP committee will today release its monthly decisions.

  • Politics/Macro/World News

    • UK, Canada Blame Each Other as Trade-Deal Talks Break Down (BBG)

    • China presses Iran to rein in Houthi attacks in Red Sea (Reuters)

  • Top company news

    • Earnings/updates

      • DEC.FP (JCDecaux) -- reports Q4 revenue €1.13B vs FactSet €1.10B [1 est]

      • SFER.IM (Salvatore Ferragamo) -- reports consolidated FY revenue €1.16B vs FactSet €1.15B [16 est, €1.13-1.20B]

      • EDP.PL (EDP-Energias de Portugal) -- reports FY operating data (post EU close 25-Jan)

      • SGSN.SW (SGS) -- reports FY adjusted EPS CHF3.48 vs StreetAccount CHF3.57

      • LIGHT.NA (Signify) -- reports Q4 net income €59M vs consensus €104M

      • TELIA.SS (Telia Co.) -- reports Q4 EPS (SEK0.73) vs consensus SEK0.30; 2024 Service revenue, like for like, is estimated to grow by low single digits

      • EDPR.PL (EDP Renovaveis) -- provides 2023 operating data preview

      • ATE.FP (Alten) -- reports preliminary FY revenue €4.07B vs FactSet €4.08B [8 est, €4.04-4.10B]

      • GFG.GR (Global Fashion Group) -- expects Q4 adjusted EBITDA to be around breakeven vs FactSet (€6.6M)

      • SIGHT.FP (GenSight Biologics) -- reports cash of €2.1M as of 31-Dec vs €2.4M as of 30-Sep; provides business update

      • DLG.IM (De'Longhi) -- reports preliminary FY revenue €3.08B vs FactSet €3.05B [9 est, €3.00-3.08B]; raises FY Adj. EBITDA guidance

      • MRN.FP (Mersen) -- reports preliminary FY revenue €1.21B vs FactSet €1.21B [4 est, €1.20-1.22B]

      • CGM.FP (Cegedim) -- reports preliminary FY revenue €616.0M vs FactSet €619.4M [3 est, €613-624.2M]

      • MTU.FP (Manitou BF) -- reports Q4 revenue €814M, +12% vs year-ago €730M

      • ALMKT.FP (Mauna Kea Technologies) -- reports preliminary Q4 revenue €2.2M vs year-ago €2.7M

    • M&A

      • EQNR.NO (Equinor) -- enters into swap transaction with BP; to take full ownership of Empire Wind, BP to take full ownership of Beacon Wind

      • CRBN.NA (Corbion) -- sells its emulsifiers business unit to Kingswood Capital Management for $362M in cash

      • GVOLT.PL (Greenvolt Energias Renováveis) -- Greenvolt Energias Renováveis' board releases review and opinion on offer from Gamma Lux Holdco S.à.r.l. (post EU close 25-Jan)

      • SAGA.LN (Saga Plc) -- looking at options for its ocean cruises operation which could include a range of options -- Sky News

      • GFT.GR (GFT Technologies) -- to acquire Sophos Solutions at valuation of ~$95M (~€87M)

      • ELLAKTOR.GA (Ellaktor) -- completes the sale of 25% stake in Anemos Res Holdings to Motor Oil (post EU close 25-Jan)

    • Healthcare

      • REGN (Regeneron) -- Dupixent (dupilumab) FDA approved as first and only treatment indicated for children aged 1 year and older with eosinophilic esophagitis (EoE)

      • ROG.SW (Roche Holding) -- New Long-Term Data for Genentech's Vabysmo Show Sustained Retinal Drying and Vision Improvements in Retinal Vein Occlusion (RVO)

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

    • Other

      • LOGN.SW (Logitech International) -- SEC filing: 10-Q

      • ORSTED.DC (Ørsted) -- to reposition Skipjack Wind for future offtake opportunities

      • VIS.SM (Viscofan) -- launches share buyback program for up to €76M

      • SGSN.SW (SGS) -- CEO Frankie Ng to step down, effective 26-Mar

      • Exxon sues investors to exclude emissions cuts proposal; AI, executive pay, water risks at issue at AGMs (25-Jan)

      • Ørsted and Eversource propose updated Sunrise Wind project

  • Key rating changes

    • Upgrades

      • Morgan Stanley upgrades RMV.LN; downgrades G24.GR

    • Downgrades

      • STMPA.FP (STMicroelectronics) -- to equal weight from overweight at Barclays

      • TLW.LN (Tullow Oil) -- to sell from hold at Stifel

  • Data

    • Nikkei (1.34%) to 35751.07

    • Hang Seng (1.48%) to 15972.14

    • Shanghai Composite +0.08% to 2908.52

    • S&P futures (20.5) vs prior close of 4923.3

    • €-$ (0.0017) or (0.15%) to 1.0831

    • $-¥ +0.11 or +0.07% to 147.75

    • €-¥ (0.17) or (0.11%) to 160.00

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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