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 +0.21%, DAX30 +0.11%, CAC40 (0.43%)

Jul 10 ,2024

  • Synopsis

    • European equity markets are set for a mixed open amidst mixed trading in Asia Wednesday. Greater China markets mixed with Hang Seng rebounding but mainland stocks little changed. Nikkei flat while Kospi and ASX logging very mild declines. S&P 500 futures flat.

    • In central banks, Bundesbank's Nagel speech at 10:00CET at event hosted by VdB Bundesbankgewerkschaft and in discussion at 16:00 in the bank's Invited Speaker Series (livestream) whilst Bundesbank's Mauderer speech at 10:20CET at conf on energy transition for Germany hosted by KfW. BOE's Pill speech at 14:30BST at Asia House, BOE's Mann panellist at 16:30BST at event at Univ. of Manchester and BOE's Kyei speech at 18:00BST at event hosted by empower. Energy transition event - How dependent is Europe's climate transition on China?; speakers include Austria Central Bank's Holzmann.

    • OPEC monthly report is due to be released.

    • Macro data due include Italy May industrial production, Norway Jun CPI and PPI, Denmark Jun CPI, Portugal Jun final CPI, Greece May industrial production and Netherlands May manufacturing production. Istat is due to release latest note on Italian economy

    • In earnings, Porsche Automobil Holding (PAH3.GR) guides 2024 consolidated profit after tax €3.5-5.5B vs prior guidance €3.8-5.8B whilst Hapag-Lloyd (HLAG.GR) reported preliminary Q2 EBIT €0.4B vs FactSet €636.0M. ABOUT YOU Holding (YOU.GR) reported Q1 adjusted EBITDA €15M vs FactSet €7.7M and confirmed FY guidance. In the Nordics, Kongsberg Gruppen (KOG.NO) is out with Q2 EPS NOK6.79 vs FactSet NOK5.63.

  • Politics/Macro/World News

    • UK's Keir Starmer urges allies to hike defense spending - politico

    • Netherlands May Manufacturing Production (0.4%) m/m vs consensus (0.7%) and prior +0.4%

  • Top company news

    • Earnings/updates

      • DACHs:

        • YOU.GR (ABOUT YOU Holding) -- reports Q1 adjusted EBITDA €15M vs FactSet €7.7M [4 est, €5.8-8.4M]; FY guidance confirmed

        • VOW3.GR (Volkswagen) -- to restructure Brussels Audi facility

        • PAH3.GR (Porsche Automobil Holding SE) -- guides 2024 consolidated profit after tax €3.5-5.5B vs prior guidance €3.8-5.8B

        • HLAG.GR (Hapag-Lloyd) -- reports preliminary Q2 EBIT €0.4B vs FactSet €636.0M [2 est, €549.9-722.2M]

      • Nordics:

        • KOG.NO (Kongsberg Gruppen) -- reports Q2 EPS NOK6.79 vs FactSet NOK5.63 [6 est, NOK5.20-5.82]

        • IRLAB.A.SS (IRLAB Therapeutics) -- reports Q2 EPS (SEK0.14) vs year-ago (SEK0.87)

        • ACC.NO (Aker Carbon Capture) -- reports H1 net income from cont. ops. NOK9.5M vs year-ago NOK9.3M

        • BNOR.NO (BlueNord) -- reports Q2 net income ($1.3M) vs FactSet $12.7M [6 est, $3-32M]; reaffirms FY production guidance

        • PNOR.NO (Petronor E&P) -- provides Q2 production update

    • M&A

      • ECV.GR (ENCAVIS) -- acquires another solar park in Spain

      • ES (Eversource Energy) -- closes on the sale of its 50% stake in Sunrise Wind to Ørsted

      • SGSN.SW (SGS) -- to acquire Institut d'Expertise Clinique; terms undisclosed

      • STAN.LN (Standard Chartered) -- Standard Chartered's crypto unit Zodia Markets nearing agreement to acquire Elwood Capital - Bloomberg (9-Jul, 16:24 BST)

      • MYTIL.GA (Metlen Energy & Metals) -- completes the acquisition of EfaEnergy (post EU close 9-Jul)

    • Healthcare

      • ALCJ.FP (Crossject) -- awarded €6.9M French Government financing to accelerate development of ZENEO Epinephrine

      • EVT.GR (Evotec) -- has entered into a multi-year master research collaboration and option and license agreement with Pfizer

      • AZN.LN (AstraZeneca) -- FDA grants orphan drug designation to Neogene Therapeutics for treatment of pancreatic cancer

      • ROG.SW (Roche Holding) -- NICE recommends Genentech's Ebglyss to treat moderate to severe atopic dermatitis in people 12 years and over

      • SN.LN (Smith & Nephew) -- holder Cevian Capital discloses 5.11% stake - 13D

      • SFZN.SW (Siegfried Holding) -- names Marcel Imwinkelried CEO, effective 1-Sep

    • Other

      • GRE.SM (Grenergy Renovables) -- closes the project financing for the Phases 1 and 2 of Oasis Atacama for $345M

      • VK.FP (Vallourec) -- awarded major order from TotalEnergies in Angola; contract value undisclosed

      • SKA.B.SS (Skanska) -- signs SEK6.3B contract with New York State Department of Transportation for the Livingston avenue bridge replacement

      • TEF.SM (Telefonica) -- Telefónica and DIGI sign new mobile network agreement for the next 16 years

      • SDR.LN (Schroders) -- publishes 2024 Impact Report

  • Key rating changes

    • Upgrades

      • JMT.PL (Jeronimo Martins) -- buy from sell at UBS

      • EXN.FP (Exclusive Networks) -- neutral from underperform at Oddo

      • COLO.B.DC (Coloplast) -- buy from hold at Danske Bank

      • Morgan Stanley upgrades IAG.SM; downgrades LHA.GR

    • Downgrades

      • AAK.SS (AarhusKarlshamn) -- hold from buy at ABG Sundal Collier

      • SLIGR.NA (Sligro Food Group) -- neutral from outperform at Oddo

      • MTX.GR (MTU Aero Engines) -- hold from buy at Kepler Cheuvreux

      • WKP.LN (Workspace Group) -- add from buy at Peel Hunt

      • PIA.IM (Piaggio & C) -- neutral from outperform at BNP Paribas Exane

      • BOSS.GR (Hugo Boss) -- to equal-weight from overweight at Morgan Stanley

      • 1COV.GR (Covestro) -- to equal weight from overweight at Barclays

      • BAER.SW (Julius Baer Group) -- to hold from buy at HSBC

      • KINV.B.SS (Kinnevik) -- to hold from buy at Carnegie Securities

      • NAS.NO (Norwegian Air Shuttle) -- to hold from buy at Carnegie Securities

    • Initiations

      • DANSKE.DC (Danske Bank) -- hold at Berenberg

      • VOLV.B.SS (Volvo) -- equal weight at Barclays

    • Other Actions

      • INTRUM.SS (Intrum) -- reinitiated reduce at Kepler Cheuvreux

      • PRY.IM (Prysmian) -- resumed overweight at JPMorgan; prior rating was overweight

  • Data

    • Nikkei +0.62% to 41837.98

    • Hang Seng (0.16%) to 17494.94

    • Shanghai Composite (0.57%) to 2942.63

    • S&P futures +1.3 vs prior close of 5631.3

    • €-$ +0.0004 or +0.04% to 1.0818

    • $-¥ +0.17 or +0.10% to 161.51

    • €-¥ +0.25 or +0.14% to 174.69

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