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 +0.26% to 8281.11, DAX +0.75% to 18987.74, CAC40 +1.23% to 7600.17, STOXX 600 +0.63% to 519.55

Sep 24 ,2024

  • Synopsis:

    • European indices have ended in positive territory. On the macro front, the latest German Ifo index painted a gloomy picture for Europe's largest economy. In September, the index declined for the fifth consecutive month, dropping to 85.4 from 88.6 in August and 86.0 expected, returning to levels last seen at the start of the year. Current assessment component also took a significant hit, declining to 84.4 from 86.4 prior and 86.0 expected, while expectations only marginally decreased to 86.3 from 86.8 prior and 86.4 expected. ING suggested decline reinforces fears Germany is in a recession with no quick rebound in sight. Manufacturing sector struggling with lowest index level since 2020, reflecting lack of orders and broader industrial challenges. While severe economic slump seems unlikely, Bundesbank has warned of a possible Q3 contraction. In central banks news, recent Eurozone economic data enhancing case for quicker ECB easing. Analysts agree September PMIs showed broad-based weakness. Employment growth stalling, wage growth cooling, and inflation expected to continue decelerating. ECB officials have not signaled urgency for faster cuts, but October cut now seen possible if dovish economic news continue. Analysts note probability of 0.25% ECB October cut rose from 25% to 42% and may continue to rise. BoE Governor Bailey said in an interview with Kent Online that inflation has come down a long way, but still needs to get to target sustainably. Comments follow last week's BoE decision to leave rates unchanged after cutting rates by 25 bps in August. Added he is encouraged path of inflation downwards and rates will come down gradually but will not get back to historic lows. Highlighted he could not say with accuracy where rates will settle but said it would require a significant shock to economy to see near zero rates again

    • Also in focus, concerns over French budget have seen borrowing costs increase. French PM Barnier talked up need to tackle deficit but may struggle to implement measures given trade-offs needed to maintain a stable government. In the UK, Chancellor Reeves said she stands by cut to winter fuel payments because of way prior Conservative government ran economy. Meanwhile, the European Commission announced it was carrying out unannounced antitrust inspections at the premises of companies active in the financial services sector in two Member States; the products concerned by the inspections are financial derivatives

    • On a light corporate front, Smiths Group (SMIN.LN) and Card Factory (CARD.LN) posted their latest numbers whilst - in Germany - TUI Group (TUI1.GR) issuesd a pre-close trading update and DHL Group (DHL.GR) presnted its Strategy 2030. In France, Legrand (LR.FP) also presented its 2030 ambitions at CMD today. In M&A news, EU cleared Swisscom (SCMNSW) acquisition of Vodafone Italia (VOD.LN) for €8B on a debt and cash free basis. SHL Telemedicine (SHLTN.SW) acquired remaining stake of Mediton for an undisclosed sum. Press reports suggest REA Group (REA.AU) could be willing to again increase bid for Rightmove (RMV.LN) to get deal over the line. German Chancellor Olaf Scholz sees UniCredit's (UCG.IM) move on Commerzbank (CBK.GR) as "hostile"

    • Looking ahead to tomorrow's calendars, Medacta (MOVE.SW), HORNBACH Holding & Co. (HBH.GR), Synergie (SDG.FP), Beneteau (BEN.FP), Guerbet (GBT.FP), DFS Furniture (DFS.LN), On The Beach Group (OTB.LN) and Harboes Bryggeri (HARB.B.DC) will be among few other names to update investors. whilst Flutter Entertainment (FLTR.LN), CTP (CTPNV.NA), Mowi (MOWI.NO) Medacta Group (MOVE.SW) will hold their CMDs. Macro-data will include France Sep consumer confidence, Spain Aug PPI, Switzerland Sep ZEW expectations and the interest rate decision from the Riksbank (9:30 CET)

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers: Basic Resources +4.53%, Persnl & HHold Goods +1.82%, Autos & Parts +1.18%, Travel & Leisure +0.95%, Chemicals +0.89%, Banks +0.80%, Food & Beverage +0.78%, Technology +0.77%, Insurance +0.67%

      • Underperformers: Real Estate(0.67%), Financial Svcs (0.26%), Media (0.14%), Utilities (0.03%), Health Care +0.13%, Oil & Gas +0.22%, Construct & Mtls +0.25%, Telecom +0.45%, Retail +0.48%, Ind Goods & Svcs +0.53%

    • Macro:

      • German Ifo index drops again in September (ING)

      • France's borrowing costs converge with Spain's as budget concerns grow (FT)

      • The left won France's election, but its new government will be at the mercy of the far right (CNN)

      • Germany's bid to kill EU duties on Chinese EVs (Politico)

      • Germany and France call for Europe-wide deal with UK on migration (Guardian)

      • Musk presents award to Meloni, hails PM's 'incredible job (Ansa)

      • PM Keir Starmer to argue tough decisions are needed for UK national renewal (FT)

    • Company news:

      • Notable Gainers

        • +13.6% BYW6.GR (BayWa €12.38, +1.50) -- restructuring update

        • +12.1% MAB1.LN (Mortgage Advice Bureau £6.10, +0.66) -- H1 earnings

        • +11.5% AMS.SW (ams-OSRAM CHF1.03, +0.11) -- 10:1 reverse share split timetable; UBS upgrade

        • +10.2% SWTQ.SW (Schweiter Technologies CHF418.00, +38.50) -- CMD update

        • +6.8% MARI.AV (Marinomed Biotech €9.48, +0.60) -- positive clinical results for unique Carragelose eye drops

        • +5.8% NIOX.LN (NIOX Group £0.70, +0.04) -- H1 earnings

        • +4.9% OKEA.NO (Okea NOK21.18, +0.98) -- sells 15% working interest in Yme license for $15.65M

        • +4.8% RIO.LN (Rio Tinto $50.60, +2.32) -- Sympathy moves after China stepped up policy support

        • +4.7% TEN.IM (Tenaris €13.85, +0.63) -- reasonable in Nov board meeting to consider use of authorization for $700M additional buyback -- investor presentation

        • +4.6% PRU.LN (Prudential £6.68, +0.29) -- Sympathy moves after China stepped up policy support

        • +4.3% ALATI.FP (Actia Group €3.67, +0.15) -- H1 earnings

        • +4.3% PGH.LN (Personal Group Holdings £1.70, +0.07) -- H1 earnings; initiated buy at Canaccord Genuity

        • +4.1% CFR.SW (Richemont CHF118.90, +4.70) -- Sympathy moves after China stepped up policy support

        • +4.1% GLEN.LN (Glencore £4.01, +0.16) -- Sympathy moves after China stepped up policy support

        • +3.8% BMW.GR (Bayerische Motoren Werke €78.36, +2.88) -- German minister Habeck wants to help car industry; however no concrete measures were announced post auto summit -- Handelsblatt

        • +3.7% AEF.IM (Aeffe €0.73, +0.03) -- Creative Director steps down

        • +3.0% MC.FP (LVMH Moet Hennessy Louis Vuitton €614.20, +18.10) -- Sympathy moves after China stepped up policy support

        • +2.9% PEUG.FP (Peugeot Invest €75.80, +2.10) -- H1 earnings

        • +2.2% CBK.GR (Commerzbank €15.10, +0.32) -- German Chancellor Olaf Scholz sees UniCredit's move on Commerzbank as "hostile" -- Reuters

        • +2.0% OIZ.ID (Origin Enterprises €3.53, +0.07) -- FY earnings

        • +1.8% RS1.LN (RS Group plc £8.02, +0.14) -- re-affirms group's medium-term targets at Investor Event

        • +1.8% VOW3.GR (Volkswagen €94.58, +1.70) -- German minister Habeck wants to help car industry; however no concrete measures were announced post auto summit -- Handelsblatt

        • +1.5% MBG.GR (Mercedes-Benz Group €56.93, +0.82) -- German minister Habeck wants to help car industry; however no concrete measures were announced post auto summit -- Handelsblatt

        • +1.5% JMAT.LN (Johnson Matthey £14.94, +0.22) -- commences second £125M tranche of buyback

        • +1.5% DHL.GR (DHL Group €38.37, +0.56) -- announces "Strategy 2030"

        • +1.4% IDIA.SW (Idorsia CHF1.37, +0.02) -- QUVIVIQ for treatment of insomnia approved by Japan MHLW

        • +0.8% A28890.GR (CompuGroup Medical €13.60, +0.11) -- business insider article

        • +0.5% S30.FP (Solutions 30 €1.40, +0.01) -- acquisition of Xperal

        • +0.1% LR.FP (Legrand €104.55, +0.10) -- 2024 Capital Markets Day presents its 2030 ambitions

      • Notable Decliners

        • -28.0% DIA.LN (Dialight £1.73, -0.70) -- Sanmina litigation update

        • -21.1% CARD.LN (Card Factory £1.12, -0.30) -- H1 earnings

        • -7.2% HSS.LN (HSS Hire Group £0.06, -0.01) -- H1 earnings

        • -6.5% SHLTN.SW (SHL Telemedicine CHF2.88, -0.20) -- acquires remaining stake of Mediton

        • -6.3% DNLM.LN (Dunelm Group £11.55, -0.78) -- holder WA Capital places 10M shares at 1,140p/share

        • -5.8% SMIN.LN (Smiths Group £17.13, -1.06) -- FY earnings; acquires two North American companies for a combined price of up to £110M

        • -5.6% HUM.LN (Hummingbird Resources £0.09, -0.00) -- H1 earnings

        • -3.0% GIG.NO (Gaming Innovation Group NOK28.20, -0.86) -- shares trade ex-right to receive NDRs; name change

        • -1.2% AXS.LN (Accsys Technologies £0.50, -0.01) -- new CFO

        • -0.2% QDT.FP (Quadient €16.74, -0.04) -- H1 earnings; launches €30M share buyback

    • EU companies reporting tomorrow:

      • DACHs: Medacta (MOVE.SW), HORNBACH Holding & Co. (HBH.GR)

      • France: Synergie (SDG.FP), Beneteau (BEN.FP), Guerbet (GBT.FP), Infotel (INF.FP), HEXAOM (ALGEX.FP), Inventiva (IVA.FP), PHAXIAM Therapeutics (PHXM.FP)

      • Southern Europe: Philogen (PHIL.IM), Admie (ADMIE.GA), Digital Value (DGV.IM)

      • UK/Ireland: DFS Furniture (DFS.LN), Avingtrans (AVG.LN), Everyman Media (EMAN.LN)

      • Trading Update: On The Beach Group (OTB.LN), Harboes Bryggeri (HARB.B.DC)

      • CMD/events: Flutter Entertainment (FLTR.LN), CTP (CTPNV.NA), Mowi (MOWI.NO), Medacta Group (MOVE.SW)

  • Data:

    • Economics:

      • Germany Sep IFO Business Climate 85.4 vs consensus 86.1 and prior 86.6

      • Finland Aug

        • PPI (2.3%) y/y vs consensus (1.5%) and prior +0.2%

        • Unemployment Rate 7.5% vs consensus 7.6% and prior 7.9%

    • Markets:

      • WTI Crude (Nov 24): +$0.87 or +1.24% to $71.24

      • €-$ +0.0040 or +0.36% to 1.1153

      • £-$ +0.0031 or +0.23% to 1.3379

      • €-£ +0.0010 to 0.8336

      • S&P 500 +0.10%

      • Performance year-to-date

        • FTSE 100: +7.08%

        • DAX: +13.35%

        • CAC: +0.76%

        • MIB: +11.60%

        • Stoxx 600: +8.47%

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