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 - EU Market Recap: FTSE 100 (0.45%) to 8203.93, DAX +0.14% to 18475.45, CAC40 (0.26%) to 7675.62, STOXX 600 (0.18%) to 516.60

Jul 05 ,2024

  • Synopsis:

    • European equity markets mixed to lower after moving off best levels. Follows positive close on Thursday. Italy +0.5%, Greece +0.3% and Denmark +0.2% lead outperformers, whilst Finland (0.8%) and Norway (0.7%) lead underperformers.

    • Focus on UK election results with the Labour party comfortably won a parliamentary majority in Thursday's general election, ending 14 years of Conservative party rule. Labour secured more than 410 seats, securing a majority of ~170 seats. Conservatives experienced their worst result in history with ~120 seats after Reform UK split the right-wing vote to win 4 seats and it also lost seats to Liberal Democrats, which had their ever result with ~70 seats.PM Starmer's senior leadership team includes Rachel Reeves as chancellor and Angela Rayner as deputy PM. Meanwhile, Conservative leader Sunak resigned, and will remain in position for a short period and will step aside once arrangements for selecting a successor are in place (Guardian).

    • Attention also on second round of French election on Sunday and whether Marine Le Pen's National Rally can secure absolute parliamentary majority. Poll suggests anti-right alliance may block path to power.

    • Quiet macro calendar in Europe. Big drop in German and French industrial production in May, respectively (2.5%) m/m and (2.1%) m/m well below expectations. UK Halifax June house price data weaker-than-forecast (0.2%) vs consensus +0.2% and prior 0.0% revised from (0.1%). Eurozone sales grew modestly by +0.1% m/m, below estimate for +0.2% but better than prior month revised (0.2%) from (0.5%), giving on a yearly basis growth +0.3% vs consensus +0.1% and prior revised +0.6% from 0.0%.

    • In corporate news, Aixtron (AIXA.GR) reported prelim Q2 earnings with impressive Q2 orders despite miss in EBIT margin and cut in FY guidance. Further out of DACHs, VARTA (VAR1.GR) is in negotiations with Porsche (P911.GR) regarding possible investment by V4Drive business. In Nordics, Salmar (SALM.NO), Lerøy Seafood Group (LSG.NO) and Grieg Seafood (GSF.NO) all issued Q2 harvest volumes. In the UK, Shell Plc (SHELL.LN) issued a Q2 update note. Out of France, Eurofins Scientific (ERF.FP) provides further refutations to another set of baseless allegations and misleading information spread by Muddy Waters; ATOS (ATO.FP) updates on new financings and reaffirms objective of reaching a definitive financial restructuring agreement by Jul-24.

    • In M&A, Glencore (GLEN.LN) received all necessary regulatory approvals to acquire Teck Resources's (TECK.B.CN) remaining 77% interest in the steelmaking coal business, Elk Valley Resources. The transaction is now expected to close on 11-Jul. In Switzerland, Emmi (EMN.SW)has entered into a put option agreement for the contemplated acquisition of Mademoiselle Desserts Group for ~€900M.

    • Looking ahead to monday's calendar (see - Europe Week Ahead: 8-Jul to 12-Jul attached) Ferrexpo (FXPO.LN), Repsol (REP.SM), Galp Energia (GALP.PL), The UNITE Group (UTG.LN), Hunting (HTG.LN), PGS (PGS.NO), Solid State (SOLI.LN), Knights Group (KGH.LN), Industrivarden (INDU.A.SS), Wallenstam (WALL.B.SS), Wihlborgs Fastigheter (WIHL.SS), and Lassila & Tikanoja (LAT1V.FH) will be among other names to update investors, whilst the macro-calendar releases will include Germany May trade balance, Eurozone Jul Sentix investor confidence, Sweden May industrial production, Denmark May manufacturing production

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Utilities +0.95%, Real Estate +0.84%, Technology +0.65%, Personal Care Drug and Grocery Stores +0.37%, Telecom +0.15%, Retail +0.13%, Media +0.09%, Health Care +0.05%, Financial Svcs (0.03%), Consumer Products and Services (0.17%),

      • Underperformers:

        • Energy(1.05%), Banks (0.97%), Basic Resources (0.78%), Chemicals (0.69%), Autos & Parts (0.64%), Insurance (0.64%), Ind Goods & Svcs (0.62%), Food, Beverage and Tobacco (0.40%), Travel & Leisure (0.26%),

    • Macro/Peripheral markets:

      • Geopolitics

        • NATO Ally Turkey Seeks Membership in China-Led SCO, Erdogan Says - Bloomberg

        • Viktor Orbán meets Vladimir Putin despite EU outcry - FT

      • EU

        • EU relieved over Labour victory in Great Britain - Handelsblatt

        • Marine Le Pen's party in talks to join Viktor Orbán's group in European parliament - FT

        • Vox leaves ally Meloni for the new Patriots for Europe group - ilsole24ore

        • European housing market recovers in first quarter - FT

      • UK

        • David Lammy appointed Foreign Secretary in Labour Cabinet - The Telegraph

        • Rachel Reeves is first female chancellor and Angela Rayner made deputy PM - BBC, The Guardian

        • Sunak resigns as Tory leader in final speech as PM outside No10 - The Telegraph

        • Tory leadership contenders prepare for quick contest amid Reform fears - The Guardian

      • France

        • Le Pen Rejects Polls Saying Far Right Shy of French Majority - Bloomberg

        • In France, three-way election battles could bring more far-right MPs - Reuters

      • Germany

        • This is how Scholz, Habeck and Lindner explain the agreement - Handelsblatt

        • For example, the new KNN funding programme is intended to enable affordable housing - Handelsblatt

      • Greece

        • Greece's business environment transformed, says Finance Deputy Min - ekathimerini

    • Company news:

      • Trading Higher:

        • +36.8% ISOFOL.SS (Isofol Medical SEK0.96, +0.25) -- positive stydy results on arfolitixorin

        • +20.6% VAR1.GR (VARTA €10.66, +1.84) -- currently in negotiations with Porsche regarding possible investment by V4Drive business

        • +18.4% AIXA.GR (Aixtron €22.39, +3.48) -- prelim Q2 earnings

        • +6.3% ABG.NO (ABG Sundal Collier Holding NOK6.80, +0.40) -- Q2 earnings

        • +6.0% GPH.LN (Global Ports Holding £2.65, +0.15) -- Global Yatırım Holding has acquired ~0.4% of the shares of company at highest price of 250p/share

        • +5.2% CBG.LN (Close Brothers Group £4.76, +0.24) -- initiated buy at Deutsche Numis

        • +4.6% ERF.FP (Eurofins Scientific €48.09, +2.09) -- further refutations to another set of baseless allegations and misleading information spread by Muddy Waters

        • +4.2% ALIF.B.SS (AddLife SEK132.30, +5.40) -- acquires BonsaiLab

        • +3.7% FIA1S.FH (Finnair €2.78, +0.10) -- June traffic numbers

        • +3.4% VTY.LN (Vistry Group £12.99, +0.43) -- sector boost from labour supportive manifesto for housing

          • +3.1% BBY.LN (Balfour Beatty £3.90, +0.12) --

          • +2.9% BDEV.LN (Barratt Developments £5.05, +0.14) --

          • +2.7% PSN.LN (Persimmon £14.66, +0.39) --

          • +2.6% RDW.LN (Redrow £7.14, +0.18) --

          • +2.4% TW.LN (Taylor Wimpey £1.52, +0.04) --

        • +3.0% GLJ.GR (GRENKE €25.50, +0.75) -- initiated buy at Hauck & Aufhäuser

        • +2.7% RYA.ID (Ryanair Holdings €16.83, +0.44) -- signs commercial agreement with lastminute.com

        • +2.0% DG.FP (VINCI SA €105.15, +2.10) -- Magnora ASA updates on company concessions acquiring Helios Nordic Energy AB

        • +1.8% EMMN.SW (Emmi CHF909.00, +16.00) -- enters into a put option agreement for the contemplated acquisition of Mademoiselle Desserts Group for ~€900M

        • +1.8% LSG.NO (Lerøy Seafood Group NOK43.30, +0.76) -- Q2 trading update

      • Trading Lower:

        • -9.0% CLAS.B.SS (Clas Ohlson SEK167.20, -16.50) -- Jun sales

        • -6.1% SCT.LN (Softcat £16.91, -1.10) -- Jefferies downgrade

        • -5.5% ATS.AV (AT & S Austria Technologie & Systemtechnik €19.85, -1.16) -- Erste Group downgrade

          • -5.4% AUS.GR (AT & S Austria Technologie & Systemtechnik €19.90, -1.14) --

        • -3.7% ATO.FP (ATOS SE €0.73, -0.03) -- update on new financings; reaffirms objective of reaching a definitive financial restructuring agreement by Jul-24

    • EU companies reporting Monday:

      • Earnings:

        • Nordics: Industrivarden (INDU.A.SS), Wallenstam (WALL.B.SS), Wihlborgs Fastigheter (WIHL.SS), Lassila & Tikanoja (LAT1V.FH)

        • UK: Solid State (SOLI.LN), Knights Group (KGH.LN)

      • Trading Update: Repsol (REP.SM), Galp Energia (GALP.PL), The UNITE Group (UTG.LN), Hunting (HTG.LN), PGS (PGS.NO)

      • Production: Ferrexpo (FXPO.LN)

  • Data:

    • Economics:

      • Germany May Industrial Production (2.5%) m/m vs consensus +0.2% and prior revised +0.1% from (0.1%)

      • Norway May Manufacturing Production +1.3% m/m vs consensus +5.2% and prior revised (6.1%) from (5.6%)

      • UK Jun Halifax House Price Index +1.6% y/y vs consensus +2.5% and prior revised +1.6% from +1.5%

      • France

        • May Trade Balance (€8.0B) vs consensus (€7.2B) and prior (€7.6B)

        • May Industrial Production (2.1%) m/m vs consensus (0.5%) and prior revised +0.6% from +0.5%

      • Spain May Industrial Production +0.4% y/y vs consensus +1.4% and prior revised +0.2% from +0.8%

      • Switzerland Jun Consumer Sentiment (36.6) vs consensus (35) and prior (38.0)

      • May Retail Sales

        • Italy +0.4% y/y vs consensus (2.0%) and prior revised (1.7%) from (1.9%); +0.4% m/m vs consensus +0.2% and prior (0.1%)

        • Eurozone +0.3% y/y vs consensus +0.1% and prior revised +0.6% from 0.0%

    • Markets:

      • WTI Crude (Aug 24): +$0.55 or +0.66% to $84.43

      • €-$ +0.0019 or +0.18% to 1.0832

      • £-$ +0.0052 or +0.41% to 1.2812

      • €-£ (0.0018) to 0.8456

      • S&P 500 +0.26%

      • Performance year-to-date

        • FTSE 100: +6.09%

        • DAX: +10.29%

        • CAC: +1.76%

        • MIB: +11.98%

        • Stoxx 600: +7.85%

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