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 (0.10%), DAX30 (0.48%), CAC40 (0.15%)

Oct 03 ,2024

  • Synopsis

    • European equity markets are set to open in negative territory amidst Asian equities mixed Thursday. Nikkei rebounding amid tamping down of rate hike speculation. Real estate developers driving Hang Seng's pull back following prior rally. Mainland China and Korean markets closed for holiday. Taiwan shut due to typhoon activity. S&P 500 futures flat afterhours. Bonds weaker with JGB and Treasury yields up 1-2 bp. Yen sustaining further losses against dollar. Crude pushing higher amid heightened Middle East tensions. Gold fluctuating while base metals generally weaker. Bitcoin recovering after earlier falling towards two-week low.

    • Of note, Germany has a public holiday for Unity Day (stock market is open).

    • Central bank narrative in focus. In an interview with the Guardian , BoE Governor Bailey said it is watching developments in the Middle East and the impact on oil, but held out the prospect of being a bit more aggressive on rate cuts if the news on inflation continued to be good. Bailey noted that the economy had proved more resilient than expected and came through shocks better than feared. Backed the government's focus on capital investment and defended the Bank's handling of the inflation shock.

    • Among central banks speakers, Riksbank's Jansson speech at 8:00CET at event seminar organised by Danske Bank, BOE's Lovell panellist at 8:45CET at The Economist EuroFinance International Treasury Management Conf (Wed-Fri) and BOE's Benford speech at 9:00BST at event organised by the A-Team Group. Bank of Latvia's Krasovska panellist at 15:20CET at the RIGA COMM (through Sat) panel discussion on Latvia's FinTech strategy. In other developments, Chancellor Scholz delivers a speech in the afternoon in Schwerin

    • Macroeconomic data due today include: Italy, Spain, Sweden Sep services PMI as well as final reads for Eurozone, France, Germany and UK, Switzerland Sep CPI, Eurozone Aug PPI.

    • In corporate news, yesterday after the close Air Liquide (AI.FP) issued pre-Q3 sales update: currency impact estimated to be ~(3%) for both Group and Gas & Services revenue. Still in France, Bouygues' Bouygues Telecom (EN.FP) confirmed its 2024 guidance. In the DACH region, Zurich Insurance Group (ZURN.SW) on track to exceed all current targets. Sika (SIKA.SW) to hold CMD today where CEO Thomas Hasler will highlight how higher requirements for durability and circularity are changing the industry. In the UK, British Land Co. (BLND.LN) provided H1 trading update. Tesco (TSCO.LN) and Galliford Try Holdings (GFRD.LN) are expected to update investors today.

  • Macro/Politics/World News

    • Double-down or pivot to Labour: the choice facing Tory think-tanks - FT

    • Why Macron Is Warning the EU 'Could Die' - Bloomberg

    • Bank of England governor watching Middle East crisis closely - Guardian

    • EU has enough support to impose Chinese EV tariffs, sources say - Reuters

    • UK house sales rise at fastest pace in three years, data shows - FT

    • UK Jobs Market Tightens Amid Fears Over Taxes, Worker Rights - Bloomberg

    • Brexit talks are back, forever - Politico

  • Top company news

    • Earnings/updates

      • AI.FP (Air Liquide) -- issues pre-Q3 sales update: currency impact estimated to be ~(3%) for both Group and Gas & Services revenue

      • ZURN.SW (Zurich Insurance Group) -- on track to exceed all current targets

      • EN.FP (Bouygues) -- Bouygues' Telecom confirms its 2024 guidance

      • VNA.GR (Vonovia) -- updates on liquidity generation: expects 2024 total liquidity inflow of around €4B, on a par with previous year's level

      • BLND.LN (British Land Co.) -- provides H1 trading update

      • BCP.PL (Banco Comercial Portugues) -- informs about specific items impact on Q3 financial results of Bank Millennium, S.A.

    • M&A

      • TIT.IM (Telecom Italia) -- receives non-binding offer for Sparkle for an enterprise value of €700M

      • VNA.GR (Vonovia) -- updates on liquidity generation: expects 2024 total liquidity inflow of around €4B, on a par with previous year's level

      • BLND.LN (British Land Co.) -- acquires portfolio of seven high quality retail parks for £441M

      • CO.FP (Casino Guichard-Perrachon) -- completes two waves of store disposals

      • SVEG.NO (Sparebanken Vest) -- Sparebanken Sør general meeting approves merger with Sparebanken Vest

      • LRE.SM (Lar España Real Estate) -- Helios RE increases price of takeover bid for Lar España to €8.3 per share

      • NVM.GR (Novem Group) -- announces potential delisting acquisition offer for shares from entity affiliated with main shareholder and potential delisting

      • TXT.IM (TXT e-Solutions) -- acquires Focus PLM S.r.l. for an undisclosed sum

    • Healthcare

      • IBAB.BB (Ion Beam Applications) -- and Jules Bordet Institute to lead IHI project Accelerate.EU to create complete Astatine-211 value chain

      • IRLAB.A.SS (IRLAB Therapeutics) -- announces positive data from the first part of it's Phase I study with IRL757

    • Other

      • MC.FP (LVMH Moet Hennessy Louis Vuitton) -- Formula One announces LVMH Moet Hennessy Louis Vuitton to become a global partner in 2025

      • GOGL.NO (Golden Ocean Group) -- Golden Ocean's board extends existing buyback program for further 12 months

      • SIKA.SW (Sika Group) -- Sika to hold CMD today

      • BLND.LN (British Land Co.) -- intends to raise gross proceeds of £300M through institutional placing

  • Key rating changes

    • Upgrades

      • BMW.GR (Bayerische Motoren Werke) -- upgraded to equal weight at Barclays

      • TEF.SM (Telefonica) -- upgraded to hold at HSBC

      • IMB.LN (Imperial Brands) -- upgraded to overweight from equal-weight at Morgan Stanley

    • Downgrades

      • AML.LN (Aston Martin Lagonda Global Holdings) -- to hold from buy at Jefferies; to hold from buy at HSBC

      • MBG.GR (Mercedes-Benz Group) -- to equal weight at Barclays

      • PAH3.GR (Porsche Automobil Holding SE) -- to underweight at Barclays

      • STLAM.IM (Stellantis) -- to equal weight at Barclays

      • ELISA.FH (Elisa Oyj) -- to hold from buy at HSBC

      • PROX.BB (Proximus) -- to reduce from hold at HSBC

      • TELIA.SS (Telia Co.) -- to sell from hold at ABG Sundal Collier

      • BATS.LN (British American Tobacco) -- to underweight at Morgan Stanley

    • Initiations

      • BUFAB.SS (Bufab) -- initiated buy at ABG Sundal Collier

    • Other Actions

      • SDF.GR (K+S AG) -- transferred neutral at JPMorgan; prior rating was overweight

  • Data

    • Nikkei +2.00% to 38563.72

    • Hang Seng (1.98%) to 21998.70

    • Shanghai Composite +0.00% to 3336.50

    • S&P futures (10.0) vs prior close of 5760.3

    • €-$ (0.0017) or (0.15%) to 1.1030

    • $-¥ +0.24 or +0.16% to 146.64

    • €-¥ (0.05) or (0.03%) to 161.72

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