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 +0.12%, DAX +0.04%, CAC40 +0.06%

Dec 03 ,2024

  • Synopsis

    • European equity markets set to open flat to higher amidst Asian equities trading mostly higher Tuesday. Boards led higher by Japan's Nikkei and Topix, Seoul and Taipei also very strong as tech stocks rallied. More gains for the Hang Seng but mainland China boards mixed.

    • As foreshadowed in press, US unveiled new controls on exports of AI and chip components to China and suppliers to Huawei. Measures less restrictive than earlier proposals mentioned in press though shares of China-listed semis generally lower on Tuesday with SMIC under pressure in Hong Kong. China issued stock response in criticizing US curbs while vowing unspecified measures to safeguard its interests.

    • In French politics, National Rally's (RN) announced that it will support a no-confidence motion against PM Barnier, triggered by his use of Article 49.3 to push through a controversial spending bill (Bloomberg).

    • In central banks, ECB's Cipollone in conversation at 9:00CET at GeoEconomy Talk organised by RCS Academy and BOE's Lintern speech at 9:50GMT at FX Markets Europe on Global FX Code. Bank of Italy's Panetta speech at 16:30CET at Spain-Italy Forum (through Wed). In UK, there are MPs questions on the Treasury at 11:30GMT (Chancellor Reeves among the ministers answering questions), whilst committee topics include work of the FCA (10:15GMT), Strategic Defence Review (10:30) and economic inactivity: welfare and long-term sickness (15:00).

    • Other events Tuesday include meeting of the EU health ministers, NATO foreign ministers meet, launch of European Hydrogen Bank second auction and FT Global Banking Summit (through Wed), panellists include BOE's D. Bailey at 12:05GMT. OMFIF hosts Future of payments forum - Frankfurt whilst SPE hosts event ay 17:00GMT title Economic Growth and the Challenge of Demographics. Politico sustainable future week kicks off (through Thu).

    • European macro data releases out today include Spain Nov unemployment change, Switzerland Nov CPI, UK Nov retail sales monitor - BRC

    • In corporate news, Salvatore Ferragamo (SFER.IM) confirmed FY outlook and indicated it expects potential negative impairment test in 2024 financial statements. In Switzerland, Swiss Life Holding (SLHN.SW) presented financial targets for 2025-27 ahead of its investors day today. In France, Edenred (EDEN.FP) confirmed its FY25 objectives and increases its share buyback program for total amount of up to €600M vs prior €300M ahead of its CMD today. Elsewhere, ASML Holding (ASML.NA) announced that it expects the impacts of additional US export restrictions on suppliers for the export of chip manufacturing technology to fall within 2025 outlook.

  • Politics/Macro/World News

    • UK chemicals sector doubts Starmer 'reset' will end Brexit blues - FT

    • French Government on Brink of Collapse Over Budget - Bloomberg

    • Radical planning reform needed to hit 1.5m housebuilding target in England, Labour warned - The Guardian

    • Trump to visit France in first post-election overseas trip - Baha

    • Ireland's centre-right government needs a new alliance partner - Handelsblatt

    • Sentiment in the German Automotive Industry Deteriorates Rapidly - IFO

    • UK retailers report weakest sales since April, BRC survey shows - Reuters

  • Top company news

    • Earnings/updates

      • SFER.IM (Salvatore Ferragamo) -- confirms outlook; expects potential negative impairment test in 2024 financial statements

      • SLHN.SW (Swiss Life Holding) -- publishes financial targets for 2025-27; Raises ROE target to 17-19% - Investor Day

      • EDEN.FP (Edenred) -- confirms its FY25 objectives; increases its share buyback program for total amount of up to €600M vs prior €300M -- CMD

      • Also due to report today

        • Earnings:

          • France: MedinCell (MEDCL.FP), Abeo (ABEO.FP)

          • Southern Europe: Grenergy Renovables (GRE.SM)

          • UK: Paragon Banking (PAG.LN), SSP Group (SSPG.LN), Greencore (GNC.LN), Victrex (VCT.LN), discoverIE Group (DSCV.LN), On The Beach Group (OTB.LN), Marston's (MARS.LN), Celebrus Technologies (CLBS.LN), Gooch & Housego (GHH.LN), Oxford Metrics (OMG.LN), System1 Group (SYS1.LN), Mind Gym (MIND.LN)

        • CMD/events: Essity (ESSITY.B.SS)

    • M&A

      • PGHN.SW (Partners Group Holding) -- Partners Group agrees to acquire real estate platform Empira Group; terms of the transaction undisclosed

      • CNR.LN (Condor Gold Plc) -- Follow-up: Condor Gold PLC confirms that it continues to be in discussions with Metal Explorations plc; provides details of offer

      • AIG (American International Group) -- AIG closes sale of its global personal travel insurance and assistance business to Zurich Insurance Group; deal was announced 26-Jun

      • DOW (Dow, Inc.) -- Dow completes $150MM sale of flexible packaging laminating adhesives business to Arkema

      • TTGT (TechTarget) -- Creation of Informa TechTarget confirmed after completion of the combination with Informa Tech's digital businesses

      • SGO.FP (Compagnie de Saint-Gobain) -- co-owned Izocam acquires new construction chemicals plant in Turkey; terms undisclosed

      • LHA.GR (Deutsche Lufthansa) -- EU approves three airlines as suitable remedy takers under the commitments made by Lufthansa in order to acquire stake in ITA Airways (29-Nov)

      • AKE.FP (Arkema) -- finalizes Dow's flexible packaging laminating adhesives business

      • STF.FP (Stef) -- completes acquisition of TDL Fresh Logistics

      • CNR.LN (Condor Gold Plc) -- confirms that it continues to be in discussions with Metal Explorations plc

      • 2768.JP (Sojitz) -- seeking partners to join in bid for North Queensland Airport - Australian Financial Review

    • Healthcare

      • IMCR (Immunocore Holdings) -- NICE recommends Immunocore's KIMMTRAK for funding through NHS

      • IPN.FP (Ipsen) -- and Biomunex Pharmaceuticals announce exclusive global licensing agreement for BMX-502

      • IPH.FP (Innate Pharma) -- announces three abstracts selected for the ASH Annual Meeting 2024

      • VLA.FP (Valneva) -- Reports Positive Three-Year Antibody Persistence Data for its Single-Shot Chikungunya Vaccine IXCHIQ

      • HNSA.SS (Hansa Biopharma) -- Hansa Biopharma, Genethon announce initiation of Phase 2 trial of imlifidase as pre-treatment to GNT-0003 in severe Crigler-Najjar syndrome

    • Other

      • AKAST.NO (Akastor) -- has been awarded a 6-month extension of the existing contract with Petrofac for the vessel Skandi Emerald

      • ACC.NO (Aker Carbon Capture) -- Brevik carbon capture plant reaches mechanical completion

      • AIR.FP (Airbus SE) -- Airbus delivered over 80 jets in November -- Reuters, citing industry sources

      • STLAM.IM (Stellantis) -- expects to appoint a permanent CEO within 1H25; Interim Executive Committee (IEC) will be responsible for the direction and oversight of the company until a successor is appointed

      • VWS.DC (Vestas Wind Systems) -- awarded 342 MW order from Invenergy Wind LLC in the USA

      • Italy Nov new passenger car registrations 124,251 units, (10.8%) y/y -- UNRAE

  • Key rating changes

    • Upgrades

      • BMW.GR (Bayerische Motoren Werke) -- to buy from neutral at UBS

      • AHT.LN (Ashtead Group) -- to outperform from sector perform at RBC Capital Markets

      • BAS.GR (BASF SE) -- to buy from add at Baader Helvea (2-Dec, timing uncertain)

      • P911.GR (Porsche) -- to overweight from equal weight at Barclays

      • BOSS.GR (Hugo Boss) -- to buy from neutral at UBS

      • Salvatore Ferragamo (SFER.IM) -- to neutral from sell at UBS

      • Ceres Power Holdings (CWR.LN) -- to sector perform from underperform at RBC Capital Markets

    • Downgrades

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

      • NN.NA (NN Group) -- to hold from buy at Kepler Cheuvreux

      • AZM.IM (Azimut Holding) -- to hold from buy at Deutsche Bank

      • COV.FP (Covivio) -- to underweight from equal-weight at Morgan Stanley

      • GEST.SM (Gestamp Automoción) -- to equal weight from overweight at Barclays

      • FR.FP (Valeo SE) -- to neutral from buy at UBS

      • FRVIA.FP (Forvia) -- to neutral from buy at UBS

      • MBG.GR (Mercedes-Benz Group) -- to neutral from buy at UBS

      • P911.GR (Porsche) -- to neutral from buy at UBS

      • GEST.SM (Gestamp Automoción) -- to sell from neutral at UBS

      • EL.FP (EssilorLuxottica) -- to neutral from buy at UBS

      • NEL.NO (NEL ASA) -- to sector perform from outperform at RBC Capital Markets

      • CE.IM (Credito Emiliano) -- to hold from buy at Jefferies

      • HYQ.GR (Hypoport) -- to neutral from outperform at BNP Paribas Exane

      • SY1.GR (Symrise) -- to hold from buy at Kepler Cheuvreux

    • Initiations

      • THULE.SS (Thule Group) -- buy at DnB Markets

      • SOP.FP (Sopra Steria Group) -- outperform at Oddo

      • MCOV.B.SS (Medicover) -- buy at Deutsche Bank

      • EVO.SS (Evolution) -- buy at Kepler Cheuvreux

  • Data

    • Nikkei +1.91% to 39248.86

    • Hang Seng +0.81% to 19708.59

    • Shanghai Composite +0.52% to 3381.48

    • S&P futures +1.5 vs prior close of 6061.8

    • €-$ (0.0010) or (0.10%) to 1.0489

    • $-¥ +0.46 or +0.30% to 150.05

    • €-¥ +0.34 or +0.22% to 157.38

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