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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE +0.46%, DAX30 +0.35%, CAC40 +0.41%

Feb 16 ,2024

  • Synopsis

    • European indices are set to open higher as Asian indices also trade higher. Japan closed higher on Friday, off intraday highs, with the Nikkei up 0.86% and Topix up 1.27%, leaving weekly gains of 4.31% and 2.61% respectively

    • US equities ended higher Thursday, just off best levels. Today's broad-based rally came after stocks finished higher and near best levels on Wednesday. Small-caps had another good session as Russell 2000 outpaced S&P 500 by nearly 200bp.

    • Among central banks updates: Friday sees ECB's Schnabel lecture at 9:45CET at EMU Lab at European University Institute as well as BOE's Pill panelist at 19:40GMT at the afore mentioned NABE Economic Policy Conf and Bank of Russia interest rate decision. EU's Simson speech at International Hydrogen Colloquium "Creating a European & Worldwide Market" whilst Volkswagen Group (VOW.GR) Jan deliveries are due to be released.

    • Macroeconomic releases due today include: UK Jan retail sales, Sweden Jan unemployment rate, France Jan final CPI

    • In corporate news: (UMI.BB) Umicore reports FY Adjusted EPS €1.86 vs consensus €1.78; guides 2024 adjusted EBITDA in the range of €900-950M vs FactSet €974.50M. (SREN.SW) Swiss Re reports FY net income $3.21B vs consensus $3.26B. (ROS.AV) Rosenbauer International reports preliminary FY revenues €1.06B vs guidance €1.1B and FactSet €1.08B [3 est]. (SIKA.SW) Sika Group reports FY EPS CHF6.82 vs FactSet CHF6.90 [23 est, CHF6.41-8.04]

    • UK/Ireland trading updates: NatWest (NWG.LN), Kingspan (KRX.ID), SEGRO (SGRO.LN), TBC Bank (TBCG.LN)

  • Politics/Macro/World News

    • EU partners lose trust in Berlin after policy U-turns (FT)

    • Spain Lends Out €60 Billion Cash Pile in Bid for Higher Returns (BBG)

  • Top company news

    • Earnings/updates

      • DG.FP (VINCI SA) -- reports Janvier Traffic for VINCI Autoroutes (6.7%). VINCI Airports +11.8%

      • SIKA.SW (Sika Group) -- reports FY EPS CHF6.82 vs FactSet CHF6.90 [23 est, CHF6.41-8.04]

      • ENX.FP (Euronext) -- reports Q4 Adj.EPS €1.42 vs StreetAccount €1.30; hikes divi by 11.7%

      • IVA.FP (Inventiva) -- reports preliminary 2023 fiscal year financial Information and provides update on clinical trial NATiV3

      • HLE.GR (HELLA GmbH & Co. KGaA) -- reports preliminary FY EBIT €486M vs FactSet €544.2M [4 est, €487.6-660.7M]

      • DKSH.SW (DKSH Holding) -- reports FY revenue CHF11.01B vs FactSet CHF11.12B [7 est, CHF11.05-11.22B]

      • COV.FP (Covivio) -- reports Q4 adjusted EPRA EPS €4.47 vs year-ago €4.58

      • POXEL.FP (Poxel) -- reports FY revenue €2.0M vs year-ago €0.7M

      • CTY1S.FH (Citycon) -- reports FY adjusted EPRA EPS €0.48 vs FactSet €0.47 [5 est, €0.40-0.51]

      • MOL.HB (MOL Hungarian Oil & Gas) -- reports Q4 EPS Ft148.27 ex-items (cont-ops) vs year-ago (Ft28.21)

      • TKTT.FP (Tarkett) -- reports FY EPS €0.31 vs year-ago (€0.41)

      • AFP.SW (Aluflexpack) -- reports FY preliminary revenue €380.3M vs FactSet €391.7M [2 est, €375.0-408.4M]

    • M&A

      • BARC.LN (Barclays) -- receiving interest from private equity firms regarding a stake in its merchant payments business - Bloomberg (about an hour ago)

      • EDPR.PL (EDP Renovaveis) -- EDP Renováveis completes asset rotation deal for a 340 MWac solar portfolio in the US (post EU close 15-Feb)

      • CGM.FP (Cegedim) -- acquires Visiodent a leading provider of management solutions for dental practices and health clinics in France. Terms were not disclosed

      • HEIQ.LN (HeiQ Plc) -- announces trading update, acquisition of new manufacturing facility, and fundraising

    • Healthcare

      • REGN (Regeneron) -- Japan approves Regeneron's Dupixent for CSU

      • GLPG.NA (Galapagos) -- to present new preliminary translational data at EMBY-EHA annual meeting

      • MRK.GR (Merck KGaA) -- FDA converts Tepmetko (tepotinib) accelerated approval in metastatic NSCLC to traditional approval

      • B8F.GR (Biofrontera AG) -- Biofrontera announces proposed share consolidation, considering subsequent capital increase from authorized capital

    • Other

      • NEXN.LN (Nexxen International) -- SEC filing: SC 13D/A (Filed by Mithaq Capital SPC)

      • AUTO.NO (AutoStore Holdings) -- AutoStore announces launch of 177M share offering by holder Thomas H. Lee Partners via accelerated bookbuild through Citi and Carnegie

      • SRAIL.SW (Stadler Rail) -- announces order for six additional hydrogen trains from state of California under previously announced contract

      • PRS.SM (Promotora de Informaciones) -- PRISA reports results of extraordinary conversion period of subordinated convertible notes due 2028

  • Key rating changes

    • Upgrades

      • HUH1V.FH (Huhtamaki) -- to equal weight from underweight at Barclays

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- to buy from hold at Kepler Cheuvreux

      • WIHL.SS Wihlborgs Fastigheter upgraded to buy from hold at ABG Sundal Collier

      • A3M.SM ATRESMEDIA upgraded to buy from hold at Mirabaud

    • Downgrades

      • EL.FP EssilorLuxottica downgraded to hold from buy at Stifel

      • EMBRAC.B.SS (Embracer Group) -- to underweight from neutral at JPMorgan

      • FNOX.SS (Fortnox) -- to hold from buy at Carnegie Securities

      • FNOX.SS (Fortnox) -- to hold from buy at DnB Markets

      • PBB.GR (Deutsche Pfandbriefbank) -- to hold from buy at Pareto

    • Initiations

      • DWL.LN (Dowlais Group Plc) -- overweight at Barclays

  • Data

    • Nikkei +0.86% to 38487.24

    • Hang Seng +2.47% to 16338.16

    • Shanghai Composite +0.00% to 2865.90

    • S&P futures (2.5) vs prior close of 5046.5

    • €-$ (0.0013) or (0.12%) to 1.0760

    • $-¥ +0.35 or +0.23% to 150.28

    • €-¥ +0.16 or +0.10% to 161.69

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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