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StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.26%), DAX30 (0.21%), CAC40 (0.26%)

Oct 18 ,2024

  • Synopsis

    • European equity futures lower following a positive close on Thursday. Asian equities mostly higher Friday. Greater China markets rebounding following better-than-expected economic data and PBOC policy support announcements. TSMC driving Taiex's outperformance following strong earnings result. US equities finished narrowly mixed in Thursday trading. Major indices remain on track for weekly gains. Gold prices hit record high

    • Among central banks updates there's the publication at 10:00CET of the latest ECB survey of professional forecasters. Also, due to see the release of the results of the pilot project for the four-day week in Germany.

    • Takeaways from the ECB's policy decision highlighted yesterday's first back-to-back rate cut in 13 years marked a new phase in its easing cycle

    • In Macro data early today: UK Sep Retail Sales +3.9% y/y vs consensus +3.2% and prior revised +2.3% from +2.5%

    • Macroeconomic releases also due today include: Spain Aug trade balance, Austria Sep final CPI, Eurozone Aug construction output, Portugal Sep PPI

    • In corporate news this morning: (AZA.SS) Avanza Bank Holding, (ELISA.FH) Elisa Oyj, (HMS.SS) HMS Networks, (VOLV.B.SS) Volvo, (NSKOG.NO) Norske Skog, ALMA.FH) Alma Media

    • Earnings yesterday after the close: EL.FP (EssilorLuxottica), EDP.PL (EDP-Energias de Portugal), BC.IM (Brunello Cucinelli), FGR.FP (Eiffage) -- Eiffage's APRR.

  • Politics/Macro/World News

    • Hezbollah says it will escalate war with Israel after Hamas leader killed (Reuters )

  • Top company news

    • Earnings/updates

      • EL.FP (EssilorLuxottica) -- reports Q3 revenue €6.44B vs consensus €6.54B

      • EDP.PL (EDP-Energias de Portugal) -- reports 9M operating data

      • BC.IM (Brunello Cucinelli) -- reports 9M revenue €920.3M vs consensus €916.7M

      • FGR.FP (Eiffage) -- Eiffage's APRR reports Q3 revenue ex construction €900.4M vs year-ago €856.6M

      • EDPR.PL (EDP Renovaveis) -- reports 9M operating data: Electricity generation +5% y/y

      • FDJ.FP (La Francaise des Jeux) -- reports preliminary Q3 revenue €669M vs year-ago €586M

      • DOM.SS (Dometic Group) -- to recognise a non-cash goodwill impairment of SEK 2.0B

      • VIRP.FP (Virbac) -- reports 9-months revenue €1.04B vs year-ago €925.3M

      • MMB.FP (Lagardere) -- reports Q3 revenue €2.42B, +9% vs year-ago €2.21B

      • WDP.BB (Warehouses de Pauw) -- reports Q3 EPRA EPS €0.38 vs FactSet €0.39 [1 est]; reaffirms FY guidance

      • SBS.GR (Stratec) -- reports preliminary 9M revenue €176.3M vs year-ago €187.7M

      • COTN.SW (COMET Holding) -- trading update: Q3 revenue CHF113.2M vs FactSet CHF122.0M [1 est]; sees FY at lower end of guidance range

      • BIOG.B.SS (BioGaia) -- announces that preliminary results Q3 did not reach market expectations

      • CNV.FP (Cnova) -- reports Q3 revenue €244M, (13%) vs year-ago €281M

      • SRP.FP (SRP Groupe) -- reports Q3 net income €128.6M, (8%) vs year-ago €139.6M

    • M&A

      • CNV.FP (Cnova) -- Casino Group (CO.FP) initiates statutory buyout proceedings to acquire all issued shares in Cnova

      • ADMIE.GA (Admie Holdings (IPTO)) -- agrees to sell 20% stake in the Attica-Crete electricity interconnection to State Grid International Development Belgium Ltd; terms undisclosed

      • BP.LN (BP) -- exploring selling minority stake in offshore wind business - Reuters

      • RI.FP (Pernod Ricard) -- sells the liqueur Minttu and its whole portfolio of Nordic local brands produced in Turku with their related assets to Oy Hartwall AB

      • RUI.FP (Rubis) -- completes sale of 55% stake in Terminal

      • OCN.LN (Ocean Wilsons Holdings) -- Ltd responds to media speculation regarding the potential sale of its 57% owned subsidiary, Wilson Sons S.A.

      • WIIT.IM (WIIT) -- agrees to acquire Michgehl & Partner for ~€5.4M

      • Kestrel coking coal mine to be put on the block - Australian Financial Review

    • Healthcare

      • BAYN.GR (Bayer AG) -- FDA grants orphan drug designation to LION-101 for limb girdle muscular dystrophy 2I/R9

      • MOR.GR (Morphosys) -- SEC filing: SC 13D/A (Filed by NOVARTIS AG)

      • INDV.LN (Indivior) -- SEC filing: SC 13D/A (Filed by Two Seas Capital LP)

      • AB.FP (AB Science) -- today announces that the EMA confirmed a negative opinion for the conditional marketing authorization of masitinib in the treatment of amyotrophic lateral sclerosis (ALS)

      • OSE.FP (OSE Immunotherapeutics) -- presents new "Cis-Demasking" Bispecific Technology for Design of Cytokine Drugs with Improved Therapeutic Index

    • Other

      • BATS.LN (British American Tobacco) -- Plan of compromise and arrangement filed for Imperial Tobacco Canada

      • TEP.FP (Teleperformance) -- announces goals for GHG emissions reduction validated by SBTi

      • NEXN.LN (Nexxen International) -- SEC filing: SC 13D/A (Filed by Mithaq Capital SPC)

      • TFI.FP (TF1) -- TF1, French film industry bodies sign agreement

      • INTRUM.SS (Intrum) -- soliciting votes of creditors for a prepackaged Chapter 11 reorganisation plan

      • INTRUM.SS (Intrum) -- continues significant progress towards implementation of its recapitalisation transaction

  • Key rating changes

    • Upgrades

      • ADS.GR (Adidas) -- to Add from Reduce at Baader Helvea

      • GEBN.SW (Geberit) -- to buy from neutral at Goldman Sachs

    • Downgrades

      • ABB.SS (ABB Limited) -- to hold from buy at DnB Markets

      • CFR.SW (Richemont) -- to neutral from buy at Goldman Sachs

      • BNZL.LN (Bunzl) -- to neutral from buy at Citi

      • ARJO.B.SS (Arjo) -- to hold from buy at Pareto

      • ARJO.B.SS (Arjo) -- to hold from buy at DnB Markets

      • PCELL.SS (PowerCell Sweden) -- to hold from buy at Pareto

      • CRAYN.NO (Crayon Group Holding) -- to hold from buy at ABG Sundal Collier

  • Data

    • Nikkei +0.22% to 38996.53

    • Hang Seng +2.22% to 20524.61

    • Shanghai Composite +2.04% to 3233.95

    • S&P futures (0.8) vs prior close of 5887.0

    • €-$ +0.0015 or +0.14% to 1.0842

    • $-¥ (0.35) or (0.23%) to 149.87

    • €-¥ (0.20) or (0.12%) to 162.50

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".

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