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StreetAccount Summary - Europe Pre-Open: Futures FTSE +0.01%, DAX30 closed, CAC40 closed

May 01 ,2024

  • Synopsis

    • European equity markets are set for a quiet trading session with most European markets closed for Labour Day with the exception of UK and Denmark. Markets closed include Austria, Belgium, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland and Turkey.

    • Before weekly UK PMQs at 12noon BST, there are MP's question on Scotland and following the questioning of Sunak the Automated Vehicles Bill [Lords] has its remaining stages. Committee topics include negotiations with the EU in respect of Gibraltar (9:30), methane (10:00) and EU entry/exit and the UK border (14:30). Deliveroo, Just Eat and Uber Eats to enhance security checks to prevent illegal working. The Scottish government will face a no-confidence vote which it is expected to win after First Minister Humza Yousaf said he would resign. EU's Vestager delivers a keynote speech at the Danish Chamber of Commerce/Dansk Erhverv (in Denmark through Fri) with other meetings/speeches. EU's Hahn speech at the Europe: The opportunity for global investors, conf organised by OMFIF. EU Commissioners at events on the occasion of the 20th anniversary of accession to the EU of Cyprus, Poland and Slovakia.

    • Central bank speakers include Bank of Spain's de Cos speech at 19:30CET at conf "Lessons for monetary policy from the latest inflationary-disinflationary episode" organized London School of Economics.

    • Macro data out include UK Apr final manufacturing PMI, Netherlands Mar retail sales and Ireland Apr unemployment rate

    • On the earnings front, Sydbank (SYDB.DC), GSK (GSK.LN), Aston Martin Lagonda Global Holdings (AML.LN), Haleon (HLN.LN), Next (NXT.LN), Smith & Nephew (SN.LN) and Computacenter (CCC.LN) are expected to release reports/updates before the open.

    • Overnight, a few companies released earnings including Aena S.M.E. (AENA.SM) reporting Q1 net income €261M vs FactSet €194.3M, Teleperformance (TEP.FP) out with Q1 revenue €2.54B vs FactSet €2.52B, TF1 (TFI.FP) reports Q1 net income €29.7M vs StreetAccount €24M and Imerys (NK.FP) is out with Q1 current net income from continuing operations €69M, +11% vs year-ago €62M

  • Politics/Macro/World News

    • Next first minister will need centre-left allies, says Scottish Greens' Harvie - Guardian

    • Netherlands Mar Retail Sales +4.8% y/y vs consensus +2.0% and prior revised +3.7% from +3.0%

  • Top company news

    • Earnings/updates

      • AENA.SM (Aena S.M.E.) -- reports Q1 net income €261M vs FactSet €194.3M [8 est, €162.8-210M]

      • TEP.FP (Teleperformance) -- reports Q1 revenue €2.54B vs FactSet €2.52B [1 est]

      • TFI.FP (TF1) -- reports Q1 net income €29.7M vs StreetAccount €24M

      • NK.FP (Imerys) -- reports Q1 current net income from continuing operations €69M, +11% vs year-ago €62M

      • AB.FP (AB Science) -- announces a slight delay in the publication of its 2023 annual financial report

      • PRS.SM (Promotora de Informaciones) -- reports Q1 net income €19.2M vs year-ago €5.2M

      • TFG.NA (Tetragon Financial Group) -- March Update: Net Asset Value: $ 2.83B

      • ZEG.LN (Zegona Communications) -- reports FY EPS (€0.15) vs FactSet (€0.53) [2 est, (€0.61)-(0.45)]

      • ALVIO.FP (Valerio Therapeutics) -- reports H1 net income (€20.3M) vs year-ago (€19.6M)

      • GNRO.FP (GeNeuro) -- reports FY net income (€14.8M) vs year-ago (€12.2M)

      • ALPHA.FP (Pharnext) -- reports FY net income (€27.5M) vs year-ago (€28.4M)

    • M&A

      • SPR (Spirit AeroSystems) -- and Airbus executives reportedly meeting in New York over next few days to discuss takeover of key aircraft-manufacturing assets - Bloomberg

      • CO.FP (Casino Guichard-Perrachon) -- Casino Group announces disposal of 121 stores to ITM, Auchan, Carrefour

      • RBI.AV (Raiffeisen Bank International) -- warned by Austrian authorities to drop Strabag deal linked to Russian oligarch fearing backlash from the US - Reuters

      • METEX.FP (METabolic EXplorer) -- provides update on METEX NØØVISTA

      • SAMS.FP (Groupe Samse) -- announces completion of the acquisition of VM Matériaux, LNTP and Cominex

      • ALHRG.FP (HERIGE) -- announces closing of sale of Building Materials Trading, Public Works and Natural Stone businesses to SAMSE Group

      • ELLAKTOR.GA (Ellaktor) -- completes process of purchasing shares of REDS S.A

      • SG.IM (SAES Getters) -- completes the acquisition of FMB Feinwerk- und Meßtechnik GmbH (post EU close 30-Apr)

    • Healthcare

      • HLUN.B.DC (H. Lundbeck) -- FDA grants orphan drug designation to Lu AF82422 for multiple system atrophy (MSA)

    • Other

      • PSM.GR (ProSiebenSat.1 Media) -- Annual General Meeting rejects split-up of ProSiebenSat.1

      • IDR.SM (Indra Sistemas) -- grants specific executive functions in favour of Murtra Millar, additional to those inherent to his position as Chairman

      • MMB.FP (Lagardere) -- Lagardère announces provisional appointment to replace Arnaud Lagardère further to his ban from management activities

      • Barry Callebaut, Lindt & & Spruengli, Hershey move higher; latest drop in cocoa prices cited

      • Deliveroo, Just Eat and Uber Eats to enhance security checks to prevent illegal working

  • Key rating changes

    • Upgrades

      • CGCBV.FH (Cargotec) -- to buy from hold at Carnegie Securities

    • Initiations

      • RSW.LN (Renishaw) -- buy at Peel Hunt

  • Data

    • Nikkei (0.33%) to 38279.49

    • Hang Seng +0.00% to 17763.03

    • Shanghai Composite +0.00% to 3104.82

    • S&P futures (5.5) vs prior close of 5067.0

    • €-$ (0.0014) or (0.13%) to 1.0655

    • $-¥ +0.11 or +0.07% to 157.90

    • €-¥ (0.01) or (0.01%) to 168.27

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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