Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.05%), DAX30 (0.12%), CAC40 (0.13%)

Mar 22 ,2024

  • Synopsis

    • European indices are set to open lower, in line with Asian equities mostly lower.

    • Greater China markets lagging with real estate developers and tech stocks weighing on Hang Seng. Nikkei hit fresh record high before pulling back.

    • US equities finished higher in Thursday trading. Dow, S&P, and Nasdaq set fresh record closes though ended well off session highs

    • Friday sees Bank of Austria releases its Annual Report 2023; press conf at 11:00CET. MNI Webcast at 9:00GMT with Bundesbank's Nagel to discuss 'German & Eurozone Economic & Policy Developments'. Bundsbank's Nagel speech at 14:00CET at event organized by the central bank. ECB's Lane lecture at 18:00CET at event hosted by AMSE. Portugal Central Bank releases its latest Economic Bulletin. Russia Central Bank interest rate decision/press conf.

    • S&P futures are slightly higher +3.3 to 5,305.8, +0.06% vs settlement

    • EU's CHMP will today release its monthly meeting drug authorizations.

    • In Earnings: SGL Carbon reports FY net income €41.0M vs FactSet €41.1M [4 est, €17.1-63.5M] . Bike24 Holding reports Q4 net income (€62.9M) vs year-ago (€3.9M). Eurocommercial Properties reports FY direct investment result per share €2.32 vs FactSet €2.33; hikes dvi by ~6.3%

    • Earnings to be released on top of the hour: Phoenix Group Holdings (PHNX.LN), X5 Retail Group (FIVE.LN), JD Wetherspoon

    • Economic: Germany Mar Ifo survey, UK Mar consumer confidence - GfK, Feb retail sales, Ireland Feb PPI

  • Politics/Macro/World News

    • Bank of England's Quick Pivot Puts June in Focus for Rate Cut (BBG)

    • Why Aren't UK Interest Rates Falling as Inflation Tumbles? (BBG)

    • Bank of England's Andrew Bailey says rate cuts 'in play' in upbeat take on UK economy (FT)

  • Top company news

    • Earnings/updates

      • ENEL.IM (Enel) -- reports FY ordinary net income €6.51B vs FactSet €6.54B [19 est, €6.33-7.02B] and company guidance €6.4B-6.7B

      • ENAV.IM (ENAV) -- StreetAccount Earnings Call Q&A Summary: ENAV Q4

      • CEZ.CP (CEZ) -- StreetAccount Earnings Call Q&A Summary: CEZ Q4

      • JDG.LN (Judges Scientific) -- StreetAccount Earnings Call Q&A Summary: Judges Scientific Q4

      • ALTR.PL (Altri SGPS) -- reports FY net income attributable from cont. ops €42.8M vs FactSet €24.9M [7 est, €19.5-33M] (post EU close 21-Mar)

    • M&A

      • ULVR.LN (Unilever) -- gauging private equity interest in ice cream business; could be valued at €10-15B - FT

    • (Healthcare

      • NOVN.SW (Novartis) -- Canada issues statement on CADTH draft recommendations for LEQVIO (inclisiran)

      • GRF.SM (Grifols) -- publishes conclusions reached by the CNMV regarding the Gotham report

      • UCB.BB (UCB) -- receives positive CHMP opinion for BIMZELX(bimekizumab) for the treatment of adults with moderate to severe hidradenitis suppurativa

      • IDIA.SW (Idorsia) -- CMO Guy Braunstein to retire

      • RENX.LN (Renalytix) -- SEC filing: SC 13D/A (Filed by JEFFERSON RIVER CAPITAL LLC)

      • ORP.FP (emeis) -- ORPEA completes reverse share split of its outstanding shares

      • ALBPS.FP (Biophytis) -- presented its phase 3 protocol in the treatment of sarcopenia

    • Other

      • MC.FP (LVMH Moet Hennessy Louis Vuitton) -- LVMH Managing Director and Chairman of the Executive Committee Antonio Belloni to step down following AGM on 18-Apr

      • AIR.FP (Airbus SE) -- IndiGo considering order of around 30 Airbus A350 aircraft - Bloomberg

      • ABBN.SW (ABB Limited) -- ABB plans to launch new share buyback of up to $1B following completion of 2023-2024 program

      • AVOL.SW (Avolta) -- wins new 6-year duty-paid contract at Maceió-Zumbi dos Palmares International Airport in Brazil

      • LGEN.LN (Legal & General Group) -- Legal & General abandons plan to obtain China business license - Reuters

      • VRLA.FP (Verallia) -- increases amount allocated to the liquidity agreement to €5M

      • DARK.LN (Darktrace) -- Holder KKR Dark Aggregator L.P. to place ~2.5% of Darktrace existing share capital

      • IDR.SM (Indra Sistemas) -- announces extension of share buy-back programme

      • ICAD.FP (Icade) -- releases climate and biodiversity report

      • Quick Take - Japan Airlines Co. lifts FY guidance, plans to introduce 42 new aircraft

  • Key rating changes

    • Upgrades

      • BVI.FP (Bureau Veritas) -- to overweight from equal weight at Barclays

    • Downgrades

      • STJ.LN (St. James's Place) -- to sector perform from outperform at RBC Capital Markets

      • ASCL.LN (Ascential) -- to hold from buy at HSBC

      • AT1.GR (Aroundtown) -- to sell from hold at Deutsche Bank

    • Initiations

      • THG.LN (THG Plc) -- buy at Peel Hunt

  • Data

    • Nikkei +0.18% to 40888.43

    • Hang Seng (2.13%) to 16504.75

    • Shanghai Composite (0.79%) to 3052.76

    • S&P futures +1.8 vs prior close of 5302.5

    • €-$ (0.0027) or (0.25%) to 1.0834

    • $-¥ (0.33) or (0.22%) to 151.32

    • €-¥ (0.75) or (0.46%) to 163.92

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