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Back to Daily DR Market Summary

StreetAccount Summary - EU Pre-Open Indications: Futures: FTSE (0.10%), DAX (0.12%), CAC40 (0.21%)

Dec 06 ,2024

  • Synopsis

    • European equity futures are trending lower following a positive close on Thursday. Asian equities mixed Friday. Greater China markets rallying, contrasting with weakness in Japan, Korea, and Australia. S&P 500 futures flat ahead of nonfarm payrolls.

    • Attention in Europe remains on French political situation. French President Macron vowed to serve out his full presidential term until 2027 in a national address. Blamed far-right and far-left for political crisis, which he said was to provoke an early election. Macron said he would name a new PM in next few days.

    • Asian equities trading mixed Friday. Greater China benchmarks trading higher on hopes of fresh fiscal stimulus, easier monetary policy will be announced next week

    • US equities were lower overall in uneventful Thursday trading as stocks ended just off worst levels.

    • Among central banks updates Friday sees, in central banks, Riksbank's Seim roundtable discussion at 10:45CET at event organised by Chamber of Commerce for Central Sweden. Representatives of the Riksbank, Finansinspektionen (the Swedish FSA), the Swedish National Debt Office and the Government will gather at 9:00CET for a meeting of the Financial Stability Council. FT's Global Boardroom conf speakers/panellists include Veolia (VIE.FP) & Merck (MRK.GR) CEO's (11:00GMT), Swiss Re (SREN.SW) & Admiral (ADM.LN) CEOs (12nppn GMT), Germany's minister if finance Kukles (13:00). In Germany, Annual meeting of the Assn for the Promotion of the Use of Renewable Energies. Meeting of the EU telecommunications ministers.

    • Macroeconomic releases due today include: Germany Oct trade balance, France Oct trade balance, Italy Oct retail sales, Norway Oct manufacturing production, UK Nov house price index - Halifax, Eurozone Q3 final GDP, Greece Q3 GDP

    • In corporate news: Sanofi issues revised financial statements for excluding Opella

  • Politics/Macro/World News

    • Le Pen Sees French Budget in Weeks If Macron Eases Debt Path (BBG )

    • France's Macron says he will appoint a new prime minister in the coming days (Reuters )

  • Top company news

    • Earnings/updates

      • FNTN.GR (Freenet) -- guides FY EBITDA €515-530M vs prior guidance €500-515M and FactSet €509.9M [10 est, €504.6-514M]

    • M&A

      • DLG.LN (Direct Line Insurance Group) -- Aviva nearing preliminary agreement to acquire Direct Line Insurance Group after further increasing bid above 261p/share - Bloomberg

      • HOT.GR (Hochtief) -- Follow-up: Hochtief agrees to sell its 17% stake in operator of the Athens-Pyrgos highway concession

      • PRIO3.BZ (PRIO SA) -- closes the acquisition of 40% interest in the Peregrino field

      • ELPE.GA (HELLENiQ ENERGY Holdings) -- completes the acquisition of a portfolio of 6 PV parks with a total capacity of 110 MW in Kozani

      • EQT.SS (EQT AB) -- reportedly has hired FT Partners to sell its Banking Circle stake - wires

      • EQT.SS (EQT AB) -- Follow-up: EQT seeking buyers for Banking Circle - Bloomberg

      • HOT.GR (Hochtief) -- Ellaktor agrees to acquire an additional 3.48% stake in company with the Athens-Pyrgos highway operating concession for €20.6M

      • AED.BB (Aedifica) -- a invests £14M in the redevelopment of a UK care home

      • CLOUD.NO (Cloudberry Clean Energy) -- to acquire 160GWh of annual proportionate production for EV of DKK595M (NOK932M), to raise capital to partly fund the deal

      • Chevron and Shell reportedly considering stake in Argentina oil export project -- Bloomberg

    • Healthcare

      • PFE (Pfizer) -- announces ASH and SABCS 2024 presentations, includes new data for ELREXFIO in relapsed/refractory multiple myeloma

      • IPH.FP (Innate Pharma) -- and the Institute for Follicular Lymphoma Innovation (IFLI) Announce up to $7.9M Investment From IFLI to Support IPH6501 Development in Follicular Lymphoma

      • SFZN.SW (Siegfried Holding) -- appoints Stefan Randl as Chief Scientific Officer as of 1-Jan-25; succeeds Jürgen Roos

    • Other

      • STLAM.IM (Stellantis) -- and Zeta Energy announce agreement to develop lithium-sulfur EV batteries

      • VIV.FP (Vivendi) -- announces Paris Commercial Court rejects CIAM's request to postpone the shareholders' meeting

      • HOLN.SW (Holcim) -- announces planned spin-off of it's North American business expected to occur in H1 of 2025

      • PRY.IM (Prysmian) -- adopts a new organisational structure with effect from 1-Jan-25; appoints Javier Arata as COO

      • MBTN.SW (Meyer Burger Technology) -- secures up to ~$39M bridge financing to stabilize business and provide liquidity runway

      • SRAIL.SW (Stadler Rail) -- Stadler awarded signaling implementation contract worth $500M with the Metropolitan Atlanta Rapid Transit Authority (MARTA)

      • Siegfried Holding appoints Stefan Randl as Chief Scientific Officer as of 1-Jan-25; succeeds Jürgen Roos

  • Key rating changes

    • Upgrades

      • Goldman Sachs upgrades 1913.HK, MONC.IM

      • Jefferies upgrades BMW.GR; downgrades MBG.GR

      • JPMorgan upgrades HLMA.LN, METSO.FH; downgrades SCHP.SW, SPX.LN; transfers EPI.A.SS

      • Morgan Stanley upgrades EOAN.GR, ANE.SM; downgrades ORSTED.DC, RED.SM

      • Morgan Stanley upgrades HNR1.GR, SCR.FP, SREN.SW; downgrades MUV2.GR

      • ACX.SM (Acerinox) -- to neutral from underweight at JPMorgan

      • DOKA.SW (dormakaba Holding) -- to Add from Reduce at Baader Helvea

    • Downgrades

      • SRP.LN (Serco Group) -- to sell from buy at UBS

      • INDT.SS (Indutrade) -- to hold from buy at DnB Markets

      • AJB.LN (AJ Bell) -- to hold from buy at Deutsche Numis

    • Initiations

      • FLS.DC (FLSmidth & Co.) -- underweight at Barclays

      • AO.LN (AO World) -- buy at HSBC

    • Other Actions

      • AG1.GR (Auto1 Group) -- transferred buy at UBS; prior rating was buy

  • Data

    • Nikkei (0.84%) to 39064.96

    • Hang Seng +1.82% to 19916.91

    • Shanghai Composite +1.15% to 3407.57

    • S&P futures (3.3) vs prior close of 6088.8

    • €-$ (0.0013) or (0.12%) to 1.0576

    • $-¥ (0.26) or (0.18%) to 149.84

    • €-¥ (0.43) or (0.27%) to 158.49

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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