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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.37%, DAX30 +0.12%, CAC +0.24%

Nov 22 ,2024

  • Synopsis

    • European indices are set to start the day slightly positive with Asian equities mixed Friday. Shares in Japan, Australia, Korea and Taiwan gaining while Greater China markets hitting fresh session lows. US contracts steady afterhours.

    • US equities higher in Thursday afternoon trading following a mixed performance in Wednesday's session. Equal-weight S&P outperforming cap-weighted index amid some drag from big tech; GOOGL down amid antitrust updates.

    • Friday sees, Frankfurt European Banking Congress speakers include ECB's Lagarde 9:30CET and Bundesbank's Nagel, Bank of France's Villeroy both at 14:00, the latter two also on a following panel. Other central bank events include ECB's de Guindos remarks ay 9:40CET at Foro Observatorio Económico organised by El Confidencial/MAPFRE

    • Earnings reports so far today: (PAAL.B.DC) Per Aarsleff Holding, (BEKB.BB) Bekaert, (ADXN.SW) Addex Therapeutics, (CFEB.BB) Cie d'Entreprises CFE, (PYRUM.NO) Pyrum Innovations.

    • Economic: Eurozone, France, Germany, UK Nov preliminary manufacturing/services PMIs, Germany Q3 final GDP, UK Oct retail sales, Nov consumer confidence - GfK, industrial trend orders - CBI, Ireland Oct PPI

  • Politics/Macro/World News

    • Russia fired experimental missile at Ukraine, says Vladimir Putin (FT )

    • Spain's lower house approves tax package extending bank windfall tax (Reuters )

    • ECB's Nagel and Villeroy call for European reforms, reject new EU debt in wake of Trump's election (Bloomberg)

    • SNB's Tschudin said inflation at comfortable levels (Reuters)

  • Top company news

    • Earnings/updates

      • IVA.FP (Inventiva) -- reports 9M revenue €1.3M vs year-ago €1.9M

      • ADXN.SW (Addex Therapeutics) -- reports final Q3 earnings: EPS (CHF0.02) vs FactSet (CHF0.01) [1 est]

      • BEKB.BB (Bekaert) -- reports 9M revenue €3.02B, (10%); announces €200M buyback; guides FY EBITu in the range of €340-350M vs FactSet €375.11M

      • ALTR.PL (Altri SGPS) -- reports 9M net income €89.6M vs year-ago €28.2M

      • KOMN.SW (Komax Holding) -- defers its mid-term targets by two years; cites challenging market environment; reaffirms FY guidance - Investor Day

    • M&A

      • NWS.AU (News Corp.) -- DAZN a potential suitor for News Corp's majority stake in Foxtel - Australian Financial Review

      • SBMO.NA (SBM Offshore) -- announces it has completed the project financing of FPSO Jaguar for a total of $1.5B.

      • EXN.FP (Exclusive Networks) -- announces the acquisition of 100% of Cloudrise. Terms were not disclosed

      • BICO.SS (BICO Group) -- agrees to divest Nanoscribe to LAB14 GmbH for an equity value of €26M (SEK 294M)

      • NHOA.FP (NHOA SA) -- share trading remains suspended pending implementation of the squeeze-out procedure.

      • EMR Capital and GEAR launch ~A$2B sale process for Ravenswood Gold Mine - The Australian

    • Healthcare

      • ORY.SM (Oryzon Genomics) -- announces request for conversion of bonds by Nice & Green

      • 1952.HK (Everest Medicines) -- reports data on eravacycline (XERAVA) presented at IDWeek 2024

    • Other

      • NOKIA.FH (Nokia) -- completes the share buyback program launched in March

      • BP.LN (BP) -- announces final investment decision on the $7B Tangguh Ubadari, CCUS, Compression project (UCC)

      • TIT.IM (Telecom Italia) -- announces a major investment of ~€130M to grow TIM Enterprise in the Cloud and build a new state-of-the-art data center (9:20ET)

      • HO.FP (Thales) -- UK, France jointly investigating Thales for bribery, corruption (roughly 18:00 CET)

      • SWON.SW (SoftwareONE Holding) -- SoftwareOne completes its CHF 70M share buyback programme

      • COL.SM (Inmobiliaria Colonial SOCIMI) -- holder Aguila LTD placing up to 31.6M shares via accelerated bookbuild through Deutsche Bank

  • Key rating changes

    • Upgrades

      • Keefe, Bruyette & Woods upgrades EBS.AV; downgrades BKT.SM

      • BNR.GR (Brenntag) -- to buy from hold at Berenberg

      • IBAB.BB (Ion Beam Applications) -- to hold from reduce at Kepler Cheuvreux

    • Downgrades

      • JD.LN (JD Sports Fashion) -- to neutral from overweight at JPMorgan

      • REY.IM (Reply) -- to hold from buy at Berenberg

    • Initiations

      • GALP.PL (Galp Energia SGPS) -- buy at Berenberg

      • CKN.LN (Clarkson) -- buy at Berenberg

  • Data

    • Nikkei +0.68% to 38283.85

    • Hang Seng (1.63%) to 19281.12

    • Shanghai Composite (1.88%) to 3306.92

    • S&P futures (2.0) vs prior close of 5970.5

    • €-$ (0.0005) or (0.05%) to 1.0470

    • $-¥ +0.41 or +0.27% to 154.93

    • €-¥ +0.35 or +0.22% to 162.19

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