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: FTSE (0.1%), DAX +0.1%, CAC flat, IBEX (0.1%), MIB +0.2%

Oct 14 ,2024

  • Synopsis

    • European equity markets set to open mixed after last week's gains when the STOXX Europe 600 ended up +0.7% last week. Asian equites mixed Monday. On Saturday, China's finance minister flagged targeted fiscal policy measures to support growth. Package includes raising debt ceiling, tapping unused funding from special purpose bonds, LGSBs to stabilize property market via acquisition of unsold homes, and special Treasury bonds to aid major bank recapitalization efforts. Mixed takeaways from MoF press conference with one observation being absence of headline figure and measures to boost consumption after sell-side previews predicted package of up to CNY2.0T. China economists look to NPC or State Council to approve stimulus size.

    • The week ahead sees ECB interest rate decision, leaders from EU countries meet, OPEC/IEA monthly oil market reports, Paris Motor Show (runs from today until 20th Oct) , Sep inflation data, Germany Oct ZEW survey, as well as earnings/updates from the likes of ABB (ABBN.SW), ASML (ASML.NA), EssilorLuxottica (EL.FP), Ericsson (ERIC.B.SS), LVMH (MC.FP)

    • In central banks today, BOE's Dhingra panellist at 7:30BST at Reserve Bank of India's 90th anniversary high-level conf. and Bundesbank's Nagel speech/panellist at 11:45CET.

    • Also today, OPEC Monthly Oil Market Report. In UK, International Investment Summit, with the government bringing together up to 300 industry leaders to catalyse investment in the UK (livestream). Press reports note Starmer is expected to promise to slash red tape and "rip out the bureaucracy that blocks investment". Among speakers for Monday's summit at the Guildhall are Ruth Porat, the president of Google's parent company Alphabet, David Ricks, the chief executive of the drug company Eli Lilly, and Larry Fink, the chief executive of BlackRock. (Guardian ).The International Investment Summit will comprise more than £50bn of deal announcements - or roughly twice the £28bn unveiled at the previous comparable gathering held under the former Conservative administration. (Sky News )

    • Elsewhere, Berlin Process Summit with EU's von der Leyen, Chancellor Scholz among the participants, the latter also speaks at the World Health Summit in Berlin in the evening. There are meetings of EU Foreign Affairs Council (through Tue), EU - Kazakhstan Cooperation Council and EU Environment Council. Thin agenda for data releases with just Finland Sep CPI, Switzerland Sep PPI on the schedule.

  • Macro/politics

    • Starmer vows to 'rip out bureaucracy' to aid growth at investment summit -- FT

    • Wage Growth for UK's Lowest-Paid Keeps BOE Wary of Inflation -- Bloomberg

    • Labour considers up to £3bn tax raid on gambling firms -- Guardian

    • 'Isolated' France faces political storm over EU-South American trade deal -- POLITICO

    • Germany: A good year before the next federal elections, the SPD is going into election campaign mode -- Handelsblatt

    • Fitch Revises France's Outlook to Negative; Affirms at 'AA-' -- link

    • Moody's Ratings affirms Belgium's ratings at Aa3, changes the outlook to negative from stable -- link

  • Top company news

    • Earnings/updates

      • IBE.SM (Iberdrola) -- reports provisional Q3 total net electricity production 29,974 GWh, (25.5%) y/y

      • AKRBP.NO (Aker BP) -- reports Q3 Net production mboepd 414.7K vs prior 444.1

      • KESKOB.FH (Kesko) -- reports Sep sales €1.04B, (2.0%) in comparable terms

      • BOSN.SW (Bossard Holding) -- reports Q3 sales CHF240.4M, (4%) vs year-ago CHF249.8M

      • FRA.GR (Fraport) --reports Sept Frankfurt Airport traffic statistics: passengers 5.8M, +1.2% y/y

      • Also reporting today

        • Earnings: Note (NOTE.SS), 1Spatial (SPA.LN), Kromek Group (KMK.LN)

        • Trading Update: Galp Energia (GALP.PL), Ashmore Group (ASHM.LN), Alphawave IP Group (AWE.LN)

        • Other: W (VOW3.GR) PreClose Conference Call

    • M&A

      • MUL.LN (Mulberry Group) -- Frasers Group PLC is announcing a revised possible offer of 150 p/sh in cash (initial offer was 130p/sh)

      • MUL.LN (Mulberry Group) -- Mulberry Group's majority shareholder declines sale to Frasers - Reuters

      • RMS.FP (Hermes) -- favorite to acquire watchmaking division of the Sandoz Family Foundation - BFMTV

      • CABK.SM (CaixaBank) --CriteriaCaixa nearing deal to sell Saba to Interparking - Expansion

      • CBK.GR (Commerzbank) -- German government working to frustrate possible takeover of Commerzbank by UniCredit - Reuters

      • TIFS.LN (TI Fluid Systems) -- ABC Technologies raises bid for TI Fluid Systems - Bloomberg (17:27 BST/12:27 ET)

      • TIFS.LN (TI Fluid Systems) -- issues statement regarding revised possible cash offer from ABC Technologies Inc. and extension of Rule 2.6 deadline

      • Bridgepoint, Tikehau Capital among suitors competing to acquire Kline Hill Partners - Bloomberg

      • Reliance Industries in discussions to acquire stake in Dharma Productions - Economic Times

    • Healthcare

      • JNJ (Johnson & Johnson) -- FDA approves fifth biosimilar of Stelara

      • BAYN.GR (Bayer AG) -- Bayer making faster progress on corporate restructuring than expected - FAS

      • SN.LN (Smith & Nephew) -- Dragoneye accuses Smith & Nephew of inflating its margins - Sunday Times

      • UCB.BB (UCB) -- announce that the FDA has approved a 2 mL pre-filled syringe and pre-filled autoinjector, each containing 320 mg of BIMZELX (bimekizumab-bkzx)

      • IPH.FP (Innate Pharma) -- appoints Jonathan Dickinson as new CEO and Chairman

    • Other

      • BP.LN (BP) -- Bluebell wants BP chairman Helge Lund to step down - Mail on Sunday

      • TIGO.SS (Millicom International Cellular) -- SEC filing: SC 13D/A (Filed by Atlas Investissement)

      • SDF.GR (K+S AG) -- K+S dividend for 2024 "not likely to be too high" amid challenging environment - Börsen-Zeitung

      • FRA.GR (Fraport) -- Fraport-led consortium submits only binding offer for Kalamata Airport concession - Handelsblatt

      • Estimated weekend box office revenues in US, Canada $70.7M, (46.8%) y/y - Box Office Mojo

      • Labour reportedly considering raising taxes on online gaming -- Guardian (earlier)

  • Key rating changes

    • Upgrades

      • EQNR.NO (Equinor) - to equal-weight from underweight at Morgan Stanley

      • BNZL.LN (Bunzl) -- to overweight from neutral at JPMorgan

      • STERV.FH (Stora Enso) -- to neutral from underperform at BNP Paribas Exane

    • Downgrades

      • BAS.GR (BASF SE) -- to neutral from buy at UBS

      • CPG.LN (Compass Group) -- to neutral from buy at Citi (earlier, timing uncertain)

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- to sell from hold at Danske Bank

      • PLX.FP (Pluxee) -- to sell from neutral at Goldman Sachs

      • LOG.SM (Logista Integral) -- to hold from buy at Kepler Cheuvreux

      • MTRS.SS (Munters Group) -- to sell from hold at Carnegie Securities

      • IPN.FP (Ipsen) -- to hold from buy at Kepler Cheuvreux

    • Other

      • MAP.SM (MAPFRE) -- initiated underperform at BNP Paribas Exane

  • Data

    • Nikkei +0.00% to 39605.80

    • Hang Seng (0.26%) to 21195.99

    • Shanghai Composite +1.74% to 3273.65

    • S&P futures (3.3) vs prior close of 5859.8

    • €-$ (0.0006) or (0.05%) to 1.0929

    • $-¥ +0.12 or +0.08% to 149.20

    • €-¥ +0.09 or +0.06% to 163.05

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