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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.09% to 8147.03, DAX (0.24%) to 18118.32, CAC40 (0.29%) to 8065.15, STOXX 600 +0.07% to 508.34

Apr 29 ,2024

  • Synopsis:

    • European equity markets closed mixed with Sweden +0.4%, Finland +0.6% and UK +0.1% amongst top outperformers and Spain (0.5%) and France (0.3%) leading on the downside. Basic Resources, Real Estate and Utilities were the best performing sectors, while Retail, Technology and Consumer Products&Services were the main laggards.

    • Spanish PM Sanchez decided to remain as leader after stepping back from public affairs for several days after announcement of a judicial review into his wife's business dealings. France avoided a ratings downgrade after Moody's and Fitch maintained their stable outlooks despite the recent announcement by the government of a deterioration in the fiscal position. Meanwhile, UK PM Sunak refused to rule out a summer general election ahead of Thursday's local ballot. Elsewhere, BBC reports Scottish First Minister Yousaf to resign.

    • On macro front, Spanish CPI edged up in Mar, yet slightly softer than forecast. April German preliminary CPI inched up for the first time since December, highlighting warnings by the ECB that there'll be bumps on the path back to the 2% target. Follows earlier regional data showing prices rose in four states in April. Comes ahead of Eurozone update tomorrow. Eurozone economist sentiment indicator weakened in April.

    • On the reporting front, Philips (PHIA.NA) posted Q1 and also announced the settlement of the Respironics litigation. In France, Atos (ATO.FP) issued market update announcing €1.1B of cash needed to fund business over 2024-25 period compared with €600M previously and also confirmed that it has received a non-binding letter of intent from French state to acquire 100% of Advanced Computing, Mission-Critical Systems and Cybersecurity Products activities. Still in France, Vivendi (VIV.FP) released Q1 revenue numbers and updated on study of the feasibility of the split project. In the banking sector, Banco Bilbao Vizcaya Argentaria (BBVA.SM) and Unicaja Banco (UNI.SM) reported Q1, whilst Deutsche Bank (DBK.GR) will assess options for possible settlement in litigation over Postbank takeover. Elsewhere, Delivery Hero (DHER.GR) Chairperson Dr Martin Enderle resigned and Beazley (BEZ.LN) reported Q1 earnings.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +1.45%, Real Estate +1.09%, Utilities +0.98%, Insurance +0.92%, Autos & Parts +0.48%, Personal Care Drug and Grocery Stores +0.45%, Health Care +0.44%, Telecom +0.14%, Food, Beverage and Tobacco +0.12%, Construct & Mtls +0.09%, Ind Goods & Svcs +0.09%

      • Underperformers:

        • Retail (1.14%), Technology (0.97%), Consumer Products and Services (0.56%), Banks (0.33%), Media (0.28%), Energy(0.02%), Chemicals (0.01%), Travel & Leisure +0.04%

    • Macro:

      • NATO chief, on unannounced Kyiv visit, says arms flows to Ukraine will increase - Reuters

      • EU

        • Eleven countries to breach EU deficit rules - FT

        • EU would need 50% tariffs to curb imports of Chinese electric cars - FT

        • Italy's Giorgia Meloni throws her hat in the ring for EU elections - Euronews

        • EU Council adopts the decision on the conclusion of a protocol to include provisions on cross-border data flows in the agreement between the EU and Japan for an Economic Partnership - release

      • UK

        • Economic uncertainty drives profit warnings - London Times

        • Humza Yousaf quits as Scotland's first minister - FT; BBC

        • Brexit border chiefs left in the dark hours before new checks kick in - Politico

        • Sunak braces for key test with Tory opponents ready to strike - Bloomberg

        • UK's opposition Labour Party commits to triple-lock pension policy -Reuters

        • Yesterday, Conservative MP and ex-minister Dan Poulter announces defection to Labour - BBC; Guardian

      • France

        • France gets a reprieve on credit rating, but doubts persist on fiscal outlook - Politico

      • Spain

        • Spanish PM reveals he stays as PM - El Correo

    • Company news:

      • Notable Gainers

        • +29.1% PHIA.NA (Koninklijke Philips €25.50, +5.76) -- Q1 earnings; Respironics litigation update

        • +18.8% ATO.FP (ATOS SE €2.27, +0.36) -- market update; offer by French state to acquire 100% of Advanced Computing, Mission-Critical Systems and Cybersecurity Products activities

        • +15.0% ALFEN.NA (Alfen €41.14, +5.37) -- Van Lanschot Kempen upgrade

        • +9.1% ENEA.SS (Enea AB SEK58.90, +4.90) -- ABG Sundal Collier upgrade

        • +8.3% RATO.B.SS (Ratos SEK38.30, +2.94) -- Q1 earnings

        • +6.5% KEMIRA.FH (Kemira €20.44, +1.24) -- Danske Bank upgrade

        • +5.7% SERI.IM (Seri Industrial €4.58, +0.25) -- negotiations with Leonardo and Invitalia for a majority stake in Industria Italiana Autobus

        • +5.4% IMMNOV.SS (Immunovia SEK2.17, +0.11) -- Q1 earnings

        • +5.4% NOD.NO (Nordic Semiconductor NOK122.65, +6.25) -- Jefferies upgrade

        • +4.4% DEMANT.DC (Demant DKK341.00, +14.40) -- Redburn Atlantic upgrade

        • +4.2% BRAV.SS (Bravida Holding SEK75.50, +3.05) -- initiates investigation regarding overbilling of Region Skåne

        • +3.8% YCA.LN (Yellow Cake £6.55, +0.24) -- quarterly operating update

        • +3.7% YIT.FH (Yit €1.90, +0.07) -- joint ventures with Czech investment group RSJ Investments in Lithuania, Latvia, and Slovakia

        • +3.2% ELUX.B.SS (Electrolux SEK98.54, +3.08) -- DnB Markets and Handelsbanken upgrade

        • +3.1% ASPO.FH (Aspo €5.94, +0.18) -- acquisition of Swed Handling from TeRa Invest for initial SEK500M in cash and shares

        • +3.0% JMT.PL (Jeronimo Martins €19.61, +0.58) -- JPMorgan upgrade

        • +2.9% STLN.SW (Swiss Steel Holding CHF0.08, -0.00) -- reverse stock split 200:1 and new Chairman

        • +2.9% UNI.SM (Unicaja Banco €1.23, +0.03) -- Q1 earnings

        • +2.8% FRAS.LN (Frasers Group £8.18, +0.22) -- new share buyback programme of up to £80M; initiated buy at Deutsche Numis

        • +2.6% BAVA.DC (Bavarian Nordic A/S DKK152.75, +3.90) -- initiates rolling submission of Biologics license application with FDA for its Chikungunya vaccine candidat

        • +2.2% KIT.NO (Kitron NOK28.92, +0.62) -- Arctic Securities upgrade

        • +2.1% EYE.LN (Eagle Eye Solutions Group £4.80, +0.10) -- Tesco contract

        • +1.7% ALHGR.FP (Hoffmann Green Cement Technologies €11.70, +0.20) -- Ravate group partnership extended

      • Notable Decliners

        • -45.5% ADXN.SW (Addex Therapeutics CHF0.06, -0.05) -- ADX71149 Phase 2 results

        • -33.6% PFC.LN (Petrofac £0.15, -0.08) -- 2023 results publication delay

        • -9.8% SESG.FP (SES €4.99, -0.54) -- SES and Intelsat said to resume merger talks -- Bloomberg

        • -8.5% DBK.GR (Deutsche Bank €15.13, -1.40) -- Deutsche Bank to assess options for possible settlement in litigation over Postbank takeover - Reuters

        • -6.9% HP3A.GR (Ringmetall €3.50, -0.26) -- FY earnings

        • -3.9% BITTI.FH (Bittium €5.86, -0.24) -- Inderes downgrade

        • -2.2% WAF.GR (Siltronic €74.35, -1.70) -- Hauck & Aufhäuser downgrade

        • -2.2% CAM.LN (Camellia £45.20, -1.00) -- FY earnings

        • -1.8% SCHA.NO (Schibsted NOK312.80, -5.60) -- Deutsche Bank downgrade

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Volkswagen (VOW.GR), Mercedes-Benz Group (MBG.GR), Deutsche Lufthansa (LHA.GR), adidas (ADS.GR), Vonovia (VNA.GR), Covestro (1COV.GR), MTU Aero Engines (MTX.GR), Nemetschek (NEM.GR), FUCHS (FPE.GR), Logwin (TGHN.GR), DEUTZ (DEZ.GR), Surteco Group (SUR.GR), Allane (LNSX.GR), Allgeier (AEIN.GR), Katek (KETK.GR), Branicks Group (BRNK.GR), centrotherm international (CTNK.GR), Straumann Holding (STMN.SW), Clariant (CLN.SW), Leclanché (LECN.SW), Erste Group Bank (EBS.AV), OMV (OMV.AV)

        • France: Air France-KLM (AF.FP), Imerys (NK.FP), Television Francaise 1 (TFI.FP), NRJ Group (NRG.FP), AB Science (AB.FP)

        • Nordics: Telenor (TEL.NO), Kongsberg Gruppen (KOG.NO), SATS (SATS.NO), Sparebanken Vest (SVEG.NO), Scatec (SCATC.NO), Aker Horizons (AKH.NO), Fortum (FORTUM.FH), Cargotec (CGCBV.FH), YIT (YIT.FH), Musti Group (MUSTI.FH), Aktia Bank (AKTIA.FH), Schouw & Co (SCHO.DC), Micro Systemation (MSAB.B.SS)

        • Southern Europe: Banco Santander (SAN.SM), CaixaBank (CABK.SM), Aena (AENA.SM), Redeia Corporacion (RED.SM), Fomento de Construcciones y Contratas (FCC.SM), Vidrala (VID.SM), Metrovacesa (MVC.SM), ENCE Energia y Celulosa (ENC.SM), Galp Energia (GALP.PL), Piraeus Financial Holdings (TPEIR.GA), BasicNet (BAN.IM)

        • UK: HSBC Holdings (HSBA.LN), Whitbread (WTB.LN), Card Factory (CARD.LN), Avacta Group (AVCT.LN), Capital & Regional (CAL.LN)

      • Trading Update:

        • Benelux: Arcadis (ARCAD.NA), Van Lanschot Kempen (VLK.NA)

        • DACHs: SIG Group (SIGN.SW)

        • France: Capgemini (CAP.FP), Thales (HO.FP), Rexel (RXL.FP), Teleperformance (TEP.FP), Altarea (ALTA.FP)

        • Nordics: Carlsberg (CARL.B.DC)

        • Southern Europe: Stellantis (STLAM.IM)

        • UK/Ireland: Glencore (GLEN.LN), Coca-Cola HBC (CCH.LN), Howden Joinery Group (HWDN.LN), Hargreaves Lansdown (HL.LN), Rotork (ROR.LN), St. James's Place (STJ.LN), Bank of Ireland Group (BIRG.ID)

  • Data:

    • Economics:

      • Sweden

        • Q1 Preliminary GDP (1.1%) y/y vs consensus (0.2%) and prior (0.2%); (0.1%) q/q vs consensus (0.1%) and prior (0.1%)

        • Mar Retail Sales +1.1% y/y vs consensus +1.2% and prior +0.3%; (0.4%) m/m vs consensus (0.5%) and prior +0.5%

      • Spain Mar Preliminary CPI +3.3% y/y vs consensus +3.4% and prior +3.2%; +0.7% m/m vs consensus +0.5% and prior +0.8%

      • Eurozone Apr Economic Sentiment Indicator 95.6 vs consensus 96.9 and prior 96.3

    • Markets:

      • WTI Crude (Jun 24): ($1.18) or (1.41%) to $82.67

      • €-$ +0.0019 or +0.18% to 1.0716

      • £-$ +0.0063 or +0.50% to 1.2548

      • €-£ (0.0025) to 0.8541

      • S&P 500 +0.12%

      • Performance year-to-date

        • FTSE 100: +5.35%

        • DAX: +8.16%

        • CAC: +6.92%

        • MIB: +13.06%

        • Stoxx 600: +6.13%

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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