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 (0.78%) to 8205.98, DAX (0.96%) to 18265.92, CAC40 (0.24%) to 7407.55, STOXX 600 (0.54%) to 507.95

Sep 10 ,2024

  • Synopsis:

    • European equity markets closed lower. Switzerland (0.1%) and France (0.2%) lead outperformers, whilst Italy (1.1%), Portugal, Austria, Germany and Denmark (1.0%) lead underperformers.

    • Risk sentiment has improved amid thoughts US jobs data not weak enough to threaten soft landing narrative. AI momentum has come under increased scrutiny in recent weeks, though secular growth theme still considered mostly intact. Yen strength a factor behind recent Japan weakness, though diminished prospect of aggressive Fed rate cuts seen limiting volatility. Slowdown in Eurozone economy supports ECB rate cut expectations. Will also narrow spread between official rates this week in line with March announcement.

    • In other news, report EU to plans to slightly reduce proposed additional tariffs from EVs imported from China by TSLA and other carmakers. More press conjecture over potential for UK Chancellor Reeves to increase tax on banks, along with a warning on unsustainable debt levels. German final CPI in line with flash. Meanwhile, Germany pushed back over Draghi's plans to reinvigorate EU economy which would require larger funding capacity and greater use of joint-bond issuance.

    • Macro focus on UK jobs data, which showed slower-than-forecast increase in jobless claims 23.7K vs consensus 95.5K, while unemployment rate dropped 4.1% vs consensus 4.2% and wage growth eased. More press conjecture over potential for UK Chancellor Reeves to increase tax on banks, along with a warning on unsustainable debt levels. German final CPI inline with flash.

    • M&A news dominate the headlines, with AngloGold Ashanti PLC (AU) announcing a shares and cash offer for Centamin plc (CEY.LN) which values Centamin at £1.9B (or ~$2.5B); in another deal, local Spanish press wrote that CVC is in talks to acquire Rovi (ROVI.SM) assets for more than €3.00B; also, Shurgard Self Storage (SHUR.BB) acquired Prime Self-Storage for €100.0M and UBS Group (UBSG.SW) is reportedly exploring partnership options for its Indian wealth-management operation.

    • On the reporting front, few companies issued earnings update, including D'Ieteren Group (DIE.BB) and Interparfums (ITP.FP). In Germany, BMW (BMWN.GR) issued a profit warning and lowered its guidance for 2024 and now sees automotive EBIT margin in corridor from 6% to 7% vs prior guidance 8% to 10%.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 09-Sep to 13-Sep attached) Lalique Group (LLQ.SW) Inditex (ITX.SM), ElvalHalcor Hellenic Copper & Aluminium Industry (ELHA.GA), Avio (AVIO.IM), Dunelm (DNLM.LN), Redrow (RDW.LN), Energean (ENOG.LN), and Trustpilot Group (TRST.LN) will be among other names to update investors, whilst the macro-calendar releases will include UK Jul manufacturing/industrial production, trade balance, construction output, Aug monthly GDP tracker - NIESR, Netherlands Jul trade balance, Portugal Aug final CPI

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Real Estate +1.77%, Food, Beverage and Tobacco +0.17%, Utilities +0.08%, Construct & Mtls +0.02%, Technology (0.02%), Ind Goods & Svcs (0.04%), Travel & Leisure (0.05%), Personal Care Drug and Grocery Stores (0.23%), Insurance (0.23%), Chemicals (0.30%), Financial Svcs (0.43%), Retail (0.44%), Telecom (0.45%),

      • Underperformers:

        • Autos & Parts (3.83%), Energy(1.53%), Banks (1.43%), Health Care (0.66%), Consumer Products and Services (0.65%), Basic Resources (0.59%),

    • Macro/Peripheral markets:

      • Geopolitics

        • France, Germany and UK condemn export of Iranian ballistic missiles to Russia - The Guardian

        • Blinken and Lammy to make joint visit to Kyiv at 'critical moment' for war in Ukraine - FT

        • Oil Spread Narrows Sharply Amid Concerns Over European Demand - Bloomberg

      • Central Banks

        • BOE's Breeden Says Easing Bank Regulations Could Spur Growth - Bloomberg

      • EU

        • Von der Leyen delays unveiling of new European Commission until next week - Politico

      • UK

        • Starmer wins vote for winter fuel raid on pensioners - The Telegraph, BBC

        • Bank Bosses Head to Reeves Meeting With Capital Rules in Focus - Bloomberg

      • France

        • French Bonds Suffer Exodus of Japanese Cash in Sign of Fragility - Bloomberg

      • Germany

        • Lindner uses the budget debate to make announcements to traffic light partners - Handelsblatt

        • Banks give up loans for real estate project developments - Handelsblatt

        • Germany's Image as Auto Superpower Hit by VW's Slow Decline - Bloomberg

      • Sweden

        • Sweden appoints new foreign minister with focus on supporting Ukraine - Reuters

      • Norway

        • Norway's spy chief sees Russia more likely to attempt sabotage - Reuters

      • Greece

    • Company news:

      • Trading Higher:

        • +26.8% ACTI.SS (Active Biotech SEK0.44, +0.10) -- study update

        • +22.7% CEY.LN (Centamin £1.49, +0.27) -- AngloGold Ashanti PLC announces shares and cash offer for company; Q3 QTD (Quarter to Date) gold production

        • +14.0% AT1.GR (Aroundtown €2.68, +0.34) -- Goldman Sachs upgrade

        • +13.0% GAMA.LN (Gamma Communications £16.58, +1.96) -- H1 earnings

        • +7.7% SPEC.LN (Inspecs Group £0.57, +0.04) -- H1 earnings

        • +6.3% RATO.B.SS (Ratos SEK33.42, +2.00) -- subsidiaries knightec and Semcon to form Knightec Group

        • +5.5% SANN1.SW (Santhera Pharmaceuticals Holding CHF9.70, +0.51) -- enters into an exclusive distribution agreement with GENESIS Pharma for AGAMREE (Vamorolone) in Central and Eastern Europe

        • +5.4% CAP.FP (Capgemini €192.90, +9.75) -- BofA upgrade

        • +4.1% VCT.FP (Vicat €31.55, +1.25) -- HSBC upgrade

        • +2.8% HVO.LN (hVIVO plc £0.30, +0.01) -- H1 earnings

        • +2.6% IWG.LN (International Workplace Group £1.77, +0.04) -- Buckley Capital Management sends letter to board and outlines recommended actions to unlock shareholder value

        • +2.5% MCHN.SW (MCH Group CHF4.06, +0.10) -- H1 earnings

        • +2.2% BVZN.SW (BVZ Holding CHF915.00, +20.00) -- H1 earnings

      • Trading Lower:

        • -49.2% VICO.SS (Vicore Pharma Holding SEK8.09, -7.61) -- stuty update; rights issue of ~SEK 782M

        • -18.6% IQE.LN (IQE £0.20, -0.04) -- H1 earnings; expects performnce at the lower end of the range of analyst forecasts for the full year

        • -16.2% OSE.FP (OSE Immunotherapeutics €8.78, -1.48) -- to launch Artemia Phase 3 registration study for cancer vaccine Tedopi in second-line Non-Small Cell Lung Cancer

        • -11.1% BMW.GR (Bayerische Motoren Werke €76.96, -8.64) -- lowers FY guidance

        • -10.6% ALPH.LN (Alpha Group International £20.80, -2.50) -- CEO to step down

        • -6.6% ROVI.SM (Laboratorios Farmaceuticos Rovi, S.A. €79.60, -5.45) -- CVC in talks to acquire Rovi's assets for more than €3.00B - Expansion

        • -6.6% DIE.BB (D'Ieteren Group €221.60, -15.00) -- H1 earnings; family shareholding reorganisation

        • -5.8% SLP.LN (Sylvania Platinum £0.49, -0.03) -- FY earnings

        • -5.1% FUM.LN (Futura Medical £0.42, -0.02) -- H1 earnings

        • -3.2% ASC.LN (Asos £4.26, -0.14) -- Barclays downgrade

        • -3.1% TRX.LN (Tissue Regenix Group £0.65, -0.02) -- H1 earnings

        • -3.0% CSN.LN (Chesnara £2.57, -0.08) -- H1 earnings

        • -2.3% AZN.LN (AstraZeneca £120.28, -2.98) -- company and Daiichi Sankyo notes detailed results from TROPION-Lung01 Phase III trial of datopotamab deruxtecan

        • -2.1% IDL.FP (ID Logistics Group €393.00, -8.00) -- resumed outperform at Oddo

        • -1.8% SQZ.LN (Serica Energy £1.12, -0.02) -- H1 earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • France: Neurones (NRO.FP), Assystem (ASY.FP), Roche Bobois (RBO.FP), Sword Group (SWP.FP), Carmat (ALCAR.FP), HighCo (HCO.FP)

        • DACHs: Lalique Group (LLQ.SW)

        • Nordics: ChemoMetec (CHEMM.DC)

        • Southern Europe: Inditex (ITX.SM), ElvalHalcor Hellenic Copper & Aluminium Industry (ELHA.GA), Avio (AVIO.IM), Aeroporto Guglielmo Marconi di Bologna (ADB.IM), Esprinet (PRT.IM), El.En. (ELN.IM)

        • UK: Dunelm (DNLM.LN), Redrow (RDW.LN), Energean (ENOG.LN), Trustpilot Group (TRST.LN), Ricardo (RCDO.LN), The Gym Group (GYM.LN), Epwin Group (EPWN.LN), Frontier Developments (FDEV.LN)

      • CMD/events: discoverIE Group (DSCV.LN), Marimekko (MEKKO.FH)

  • Data:

    • Economics:

      • Aug CPI

        • Denmark +1.4% y/y vs consensus +1.6% and prior +1.1%

        • Norway +2.6% y/y vs consensus +3.5% and prior +2.8%

        • Greece +3.0% y/y vs consensus +0.5% and prior +2.7%

      • Jul Industrial Production

        • Sweden (1.6%) y/y vs consensus +3.5% and prior revised +0.4% from +0.9%

        • Austria (1.1%) y/y vs consensus (4.7%) and prior revised (3.3%) from (3.9%)

        • Spain (0.4%) y/y vs consensus +0.9% and prior revised +0.2% from +0.6%

        • Finland +6.4% y/y vs consensus +0.3% and prior +3.1%

        • Greece +10.6% y/y vs consensus +8.3% and prior revised to +9.9% from +9.5%

        • Italy (3.3%) y/y vs consensus (1.2%) and prior (2.6%)

      • Germany Aug Final CPI +1.9% y/y vs preliminary +1.9%

      • Norway Aug PPI +3.6% y/y vs consensus +8.3% and prior +6.5%

      • UK ILO Aug Claimant Count Change 23.7K vs consensus +95.5K and prior revised +102.3K from +135.0K

    • Markets:

      • WTI Crude (Oct 24): ($2.66) or (3.87%) to $66.05

      • €-$ (0.0020) or (0.18%) to 1.1022

      • £-$ (0.0014) or (0.11%) to 1.3060

      • €-£ (0.0002) to 0.8439

      • S&P 500 +0.02%

      • Performance year-to-date

        • FTSE 100: +6.11%

        • DAX: +9.04%

        • CAC: (1.80%)

        • MIB: +9.58%

        • Stoxx 600: +6.05%

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