Leaving BNY Website

 

You are leaving the BNY 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

© 2024 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@bnymellon.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.

Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.35%), DAX (0.26%), CAC (0.01%)

Mar 19 ,2024

  • Synopsis

    • European equity markets are set to open lower amidst a mixed session for Asian equities with Hang Seng leading China market declines. Nikkei swinging higher after the BOJ ended large-scale easing measures, scrapping NIRP, YCC, ETF ad J-REIT purchases. ASX logging mild gain following RBA leaving cash rate unchanged at 4.35% as expected while Taiex flat. US contracts lower afterhours. Australian and JGB yield yields pulled lower following BOJ and RBA meetings.

    • In Europe, ECB Vice President de Guindos reiterated ECB's data-dependent stance and highlighted services inflation remains sticky. More dovish remarks from Portugal's Centeno. SNB said banks need to prepare more collateral for emergencies. Not much in terms of newsflow outside of central banks. Afterhours focus was on NVDA GTC with company unveiling more powerful successor lineup to H100 AI accelerator chips. Event was widely anticipated with NVDA down ~2% afterhours. Elsewhere, UK press reported UK PM Sunak's allies have warned of a snap general election if rebels force a leadership contest.

    • Macro data releases in Europe include: Germany Mar ZEW survey, Switzerland Feb trade balance (monthly watch data), Portugal Feb PPI.

    • On today's agenda, 10th Berlin Energy Transition Dialogue, speakers include Economics minister Hobeck. Conf. hosted by Friedrich August von Hayek Foundation Freiburg, speakers include Chancellor Scholz, finance minister Lindner. Conf "Europe 2024" organised by Die Ziet, speakers include Chancellor Scholz, Economics minister Habeck, Environment minister Lemke. EU's Breton speech at the conf 'Boosting the EU Single Market: Towards the Single Digital Gateway 2.0'. EU's McGuinness panellist at the Euronext Annual Conf. In UK, Trade (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) Bill has its remaining stages, whilst committee topics include Chancellor's Annual Scrutiny Session for 2023-24 at 15:00GMT (Hunt).

    • In central banks, SNB Annual Report and Sustainability Report released at 7:15CET. Lithuania Central Bank's Šimkus presents the bank's latest macroeconomic forecasts at 9:00CET. ECB's de Guindos speech was at 9:30CET, Bank of Spain's de Cos 9:40 at event organised by El Español and Invertia (thru Thu) (livestream). BOE's Lovell panellist at 16:00GMT at Pay360 conf. Riksbank's Flodén lecture at14:00CET at Dalarna Univ. College on the economic situation and current monetary policy. Publication of selected articles from latest Bundesbank Monthly Report.

    • Notable earnings reported so far include: Partners Group Holding (PGHN.SW) reporting FY earnings and confirming its guidance of expected gross client demand of $20-25B in 2024. Fraport (FRA.GR) reported FY earnings and indicated that no dividend for FY23 and FY24 will be distributed given the continued high debt levels and with free cash flow projected to be negative. Georg Fischer (GF.SW) reported FY numbers and raised Strategy 2025 targets. Semperit Holding (SEM.AV) issued final year earnings and guided FY24.

    • Also due to report today, Deutsche EuroShop (DEQ.GR), Fluegger Group (FLUG.B.DC), TERNA Rete Elettrica Nazionale (TRN.IM), Piovan (PVN.IM), FILA - Fabbrica Italiana Lapis ed Affini (FILA.IM), Trustpilot Group (TRST.LN), Close Brothers Group (CBG.LN), Essentra (ESNT.LN), Mortgage Advice Bureau (Holdings) (MAB1.LN).

  • Politics/Macro/World News

    • ECB's Centeno Says Cutting Rates May Help Prevent a Recession - Bloomberg

    • ECB's De Guindos says evolution of wages is key; will have more information In June - link

    • Sunak Struggles for Control in Face of Dire Polls and Tory Anger - Bloomberg

    • Jump in UK minimum wage keeps Bank of England on alert - FT

    • EU to impose tariffs on Russian grain - FT

    • Britain's energy system will not hit net zero until 2035, National Grid tells Labour - The Telegraph

  • Top company news

    • Earnings/updates

      • PGHN.SW (Partners Group Holding) -- reports FY net income CHF1.00B vs consensus CHF1.08B; confirms guidance of expected gross client demand of $20-25B in 2024

      • ADP.FP (Aeroport de Paris) -- reports Feb Paris Aeroport traffic 7.0M, +4.7% y/y

      • NWRN.SW (Newron Pharmaceuticals) -- reports FY net income (€16.2M) vs FactSet (€16.1M) [3 est, (€18)-(14.6M)]

      • AAD.GR (Amadeus FiRe) -- reports FY net income attributable €40.4M vs FactSet €41M [1 est]; revenues, EBITA in line with prelims; issues 2024 outlook

      • FRA.GR (Fraport) -- reports FY EPS €4.26 vs FactSet €4.06 [19 est, €3.76-4.49]; no divi for FY23 and FY24 and guides FY24

      • VETN.SW (Vetropack Holding) -- reports FY net income CHF63.3M vs FactSet CHF79.7M

      • GF.SW (Georg Fischer) -- reports FY net income CHF235M vs FactSet CHF244.5M [5 est, CHF204.3-278.0M]; raises Strategy 2025 targets

      • SEM.AV (Semperit Holding) -- reports FY EPS (€0.82) vs FactSet (€0.63) [2 est, (€1.41)-0.15]; guides FY24

      • Also due to report today include:

        • Earnings:

          • DACHs: Deutsche EuroShop (DEQ.GR), PAUL HARTMANN (PHH2.GR), DEUTZ (DEZ.GR)

          • France: Virbac (VIRP.FP), Visiativ (ALVIV.FP), Haulotte Group (PIG.FP)

          • Nordics: Fluegger Group (FLUG.B.DC)

          • Southern Europe: TERNA Rete Elettrica Nazionale (TRN.IM), Piovan (PVN.IM), FILA - Fabbrica Italiana Lapis ed Affini (FILA.IM), Sabaf (SAB.IM), B&C Speakers (BEC.IM)

          • UK: Trustpilot Group (TRST.LN), Close Brothers Group (CBG.LN), Essentra (ESNT.LN), Mortgage Advice Bureau (Holdings) (MAB1.LN), M.P. Evans Group (MPE.LN), Midwich Group (MIDW.LN), Sabre Insurance Group (SBRE.LN), Wickes Group (WIX.LN), Videndum (VID.LN), Fintel (FNTL.LN), DFS Furniture (DFS.LN), Eagle Eye Solutions Group (EYE.LN), Zotefoams (ZTF.LN), Personal Group Holdings (PGH.LN), Tissue Regenix Group (TRX.LN)

        • Trading Update: SThree (STEM.LN)

        • CMD/evenys: GSK (GSK.LN) ESG, Spirent Communications (SPT.LN), TERNA Rete Elettrica Nazionale (TRN.IM), Enento Group (ENENTO.FH)

    • M&A

      • TIT.IM (Telecom Italia) -- could sell remaining stake in Inwit - Bloomberg (18-Mar, 16:05 CET)

      • LGEN.LN (Legal & General Group) -- exploring potential sale of housebuilder arm Cala - Sky News (18-Mar, 13:07 GMT)

      • BCP.PL (Banco Comercial Portugues) -- Fosun International evaluating sale of remaining stake in Millennium bcp - Reuters

      • ENEL.IM (Enel) -- confirms it has suspended the sale of Edesur in Argentina - Bloomberg

      • EURN.BB (Euronav) -- CMB NV takeover bid for Euronav closes with CMB now holding 80.5% of shares (88.6% ex-Treasury shares)

      • NHY.NO (Norsk Hydro) -- Hydro announces sale of its fabrication plant in Kaunas, Lithuania; terms not reported

      • PSG.SM (Prosegur Compania de Seguridad) -- Update on outcome of partial bid for Prosegur Compania de Seguridad SA by Gubel SL

      • CRI.FP (Chargeurs) -- Colombus Holding offer for Chargeurs reopens until 3-Apr

      • ILM1.GR (Medios) -- announces acquisition of Ceban Pharmaceuticals B.V.

    • Healthcare

      • IVA.FP (Inventiva) -- Phase II, LEGEND, Proof-of-Concept study combining lanifibranor with empagliflozin in patients with MASH/NASH and T2D achieved primary efficacy endpoint

      • 4151.JP (Kyowa Kirin) -- Orchard Therapeutics issues press release on FDA Approval of Lenmeldy; expects to provide more details on US launch this week

      • 524715.IN (Sun Pharmaceutical Industries) -- notes Australian Therapeutic Goods Administration approval of Winlevi for treatment of acne vulgaris

      • EFYA.GR (PharmaCyte Biotech) -- SEC filing: 10-Q

    • Other

      • DHER.GR (Delivery Hero) -- invites holders to tender their convertible bonds due in 2025 and 2026 for cash

      • ENGI.FP (ENGIE) -- announces start of commercial operation of BESS Coya

      • LISN.SW (Chocoladefabriken Lindt & Spruengli) -- completes share buyback which began on 2-Aug-22

      • IDR.SM (Indra Sistemas) -- announces approval of separation project

      • MBTN.SW (Meyer Burger Technology) -- Meyer Burger shareholders approve rights issue of ~CHF200M and support expansion of production and distribution structures in the US

      • UNI.SM (Unicaja Banco) -- discloses receipt of updated minimum fund requirements from Bank of Spain

      • Li-Cycle Holdings provides business update, following announcement of $75M investment from Glencore

  • Key rating changes

    • Upgrades

      • HEM.SS (Hemnet Group) -- to buy from underperform at Jefferies

      • VTY.LN (Vistry Group) -- to sector perform from underperform at RBC Capital Markets

      • BPOST.BB (bpost) -- to hold from sell at ING

      • AIR.FP (Airbus SE) -- to outperform from sector perform at RBC Capital Markets

    • Downgrades

      • HFG.GR (HelloFresh) -- to equal weight from overweight at Barclays

      • SKF.B.SS (SKF) -- to hold from buy at ABG Sundal Collier

      • EPI.A.SS (Epiroc) -- to neutral from buy at Goldman Sachs

      • BOL.SS (Boliden) -- to hold from buy at Deutsche Bank

      • INTRUM.SS (Intrum) -- to underweight from neutral at JPMorgan

      • G24/GR (Scout24) -- to hold from buy at Jefferies

      • CGG.FP (CGG) -- to sell from buy at Societe Generale

    • Initiations

      • PRY.IM (Prysmian) -- buy at Berenberg

      • SAGA.B.SS (Sagax) -- buy at SEB

      • VWS.DC (Vestas Wind Systems) -- outperform at RBC Capital Markets

  • Data

    • Nikkei +0.66% to 40003.60

    • Hang Seng (1.16%) to 16542.99

    • Shanghai Composite (0.64%) to 3065.09

    • S&P futures (6.3) vs prior close of 5214.8

    • €-$ (0.0007) or (0.06%) to 1.0866

    • $-¥ +1.23 or +0.83% to 150.38

    • €-¥ +1.20 or +0.74% to 163.38

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