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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.18%, DAX30 +0.06%, CAC40 +0.25%

Oct 11 ,2024

  • Synopsis

    • European indices are set to open marginally higher as most Asian indices trade lower with the exception of the Nikkei trading up. S&P 500 futures unchanged afterhours

    • US equities finished lower in fairly choppy Thursday trading. September core CPI came in at 0.31% m/m, hotter than consensus 0.2% and mostly in line with August's increase.

    • Among central banks updates: Bank of Italy releases latest economic bulletin. Chancellor Scholz hosts US President Biden for a two-day visit. EU's von der Leyen participates in the Summit of Southern European Union countries (MED-9). EU's Šefčovič and Norway's minister of foreign affairs Eide attend the second EU-Norway High-Level Dialogue on Fisheries and Ocean Governance. In the UK, PM Starmer convenes the first Council of Nations and Regions

    • Macroeconomic releases due today include: Germany Sep final CPI, UK Aug industrial/manufacturing production, trade balance, construction output, Sep monthly GDP tracker - NIESR, Switzerland Sep consumer confidence - SECO, Portugal Sep final CPI

    • In corporate news: Tryg (TRYG.DC) reports Q3 net income DKK1.61B vs consensus DKK1.58B; continues to expect positive top-line growth in 2024. Atrium Ljungberg (ATRLJ.BSS)reports Q3 management EPS SEK2.78 vs FactSet SEK2.55 [5 est, SEK1.70-2.85]

  • Politics/Macro/World News

    • French PM Michel Barnier unveils shock therapy in 2025 budget (FT )

    • ECB Seen Cutting Faster to Release Economic Shackles Next Year (BBG )

    • World Bank board approves new Ukraine fund (Reuters )

  • Top company news

    • Earnings/updates

      • ZAL.GR (Zalando) -- reports prelim Q3 adj EBIT €93M vs year-ago €23M and FactSet €54.5M; upgrades its FY24 financial outlook

      • TOM2.NA (TomTom) -- reports Q3 net income (€4.4M) vs consensus (€3M)

      • FHZN.SW (Flughafen Zuerich) -- reports Sep traffic statistics

      • THG.LN (THG Plc) -- reports Q3 Group revenue (cont.ops) £433.1M, (0.6%) CCY; board expects FY performance to be within the company consensus range

    • M&A

      • SAN.FP (Sanofi) -- CD&R reportedly close to €15B deal to acquire Sanofi's consumer business -- Bloomberg

      • SAN.FP (Sanofi) -- Follow-up: CD&R close to €15B deal to acquire Sanofi's consumer business - Bloomberg

      • ACX.SM (Acerinox) -- agrees to sell Bahru Stainless for $95M

      • THG.LN (THG Plc) -- issues update on Ingenuity Demerger and Proposed Placing

      • ASPO.FH (Aspo) -- Aspo's subsidiary Leipurin completes divestment of its Russian operations

      • AEIN.GR (Allgeier) -- sells part of its personnel services business to emagine GmbH, Munich

      • Vedanta, CESC among competitors for Hiranmaye Energy - Economic Times (pre-Indian open)

    • Healthcare

      • ROG.SW (Roche Holding) -- FDA approves Itovebi in combination with Ibrance for metastatic breast cancer

      • ROG.SW (Roche Holding) -- Genentech issues press release regarding previously reported FDA approval of Itovebi

      • DNLI (Denali Therapeutics) -- discloses K-2 Phase 2 study evaluating oditrasertib (SAR443820/DNL788) in participants with multiple sclerosis did not meet the primary endpoint - 8-K

      • UCB.BB (UCB) -- showcases new data for gMG management at the AANEM Annual Meeting and MGFA Scientific Session

      • MCRB (Seres Therapeutics) -- trading higher; circulation of comments attributed to Betaville cited

      • SDZ.SW (Sandoz Group) -- Sandoz US launches generic paclitaxel in single-dose vial, further expanding US oncology portfolio

      • NYXH.BB (Nyxoah) -- SEC filing: SC 13D/A (Filed by Cochlear Ltd)

      • COPN.SW (Cosmo Pharmaceuticals) -- appoints Svetlana Sigalova as its new CFO, effective 11-Nov; succeeds Niall Donnelly

    • Other

      • AIR.FP (Airbus SE) -- Airbus facing concerns over supplies of key structural parts from Spirit AeroSystems - Reuters

      • STLAM.IM (Stellantis) -- CFO Natalie Knight to leave company, Doug Ostermann appointed as replacement

      • EDEN.FP (Edenred) -- SBTi approves Edenred's 2030 and 2050 carbon emission reduction targets

      • AED.BB (Aedifica) -- completes 5 projects in Q3 and announces 2 new projects in Finland

  • Key rating changes

    • Upgrades

      • GVS.IM (GVS SpA) -- to neutral from sell at Goldman Sachs

    • Downgrades

      • HO.FP (Thales) -- to hold from buy at Berenberg

      • VTY.LN (Vistry Group) -- to neutral from overweight at JPMorgan

      • CWR.LN (Ceres Power Holdings) -- to neutral from buy at Goldman Sachs

  • Data

    • Nikkei +0.58% to 39610.53

    • Hang Seng +0.00% to 21251.98

    • Shanghai Composite (1.49%) to 3252.82

    • S&P futures (1.5) vs prior close of 5829.0

    • €-$ +0.0004 or +0.04% to 1.0939

    • $-¥ +0.09 or +0.06% to 148.67

    • €-¥ +0.10 or +0.06% to 162.60

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.
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DEPOSITARY RECEIPTS:
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