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 - EU Market Recap: FTSE 100 (1.14%) to 8105.32, DAX (1.20%) to 19999.47, CAC40 (1.22%) to 7294.37, STOXX 600 (1.51%) to 506.66

Dec 19 ,2024

  • Synopsis:

    • European equity markets closed broadly lower Thursday, with the Stoxx Europe 600 down (1.5%). All sectors in the red, with Real Estate, Technology, Media, Financial Services and Basic Resources the biggest decliners, closing lower than (2%). European selloff was on back of US equities declining sharply on Wednesday with the S&P suffering its worst performance since early August (VIX/yen event) and its second-biggest decline of 2024. US equities were mostly higher in Thursday midday trading, though off best levels.

    • Market capitulation dovetailing big backup in bond yields and stronger US dollar, reflecting hawkish takeaways from FOMC meeting. While Fed cut rates by 25 bp as expected, SEP takeaways leaned hawkish with two 25 bp cuts forecast next year, 50 bp less than projected in December and Powell emphasized caution in further rate cuts, signaling a new policy phase.

    • Central bank policy in focus in Europe with BoE, Riksbank and Norge Bank policy decisions. BoE left policy on hold as expected, but vote split more dovish with three MPC members backing a 25 bp cut versus expectations for one dissenter. BoE's Bailey said market rate pricing for February looks reasonable. Riksbank cut rates by 25 bps and signalled potential end of easing cycle. May lower rates one more time in first half of 2025 if economic and inflation prospects hold. Norges Bank on hold and signalled rates likely to be cut in March. Judged restrictive policy still needed but time to begin easing soon approaching.

    • In other developments, German GfK consumer confidence saw slight improvement but remains at weak levels. French business survey deteriorated and coincided with political instability.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Food, Beverage and Tobacco (0.29%), Insurance (0.55%), Personal Care Drug and Grocery Stores (0.77%), Utilities (0.85%), Energy(0.86%), Telecom (0.92%), Consumer Products and Services (1.20%), Autos & Parts (1.31%), Travel & Leisure (1.41%), Chemicals (1.42%), Retail (1.50%)

      • Underperformers:

        • Technology (2.44%), Real Estate (2.36%), Basic Resources (2.22%), Media (2.16%), Financial Svcs (2.05%), Ind Goods & Svcs (2.03%), Health Care (1.88%), Construct & Mtls (1.86%)

    • Macro:

      • Central banks

        • BoE MPC votes by majority of 6-3 to maintain Bank Rate at 4.75%. Three members preferred to reduce Bank Rate by 0.25 percentage points, to 4.5% -- link

        • BoE's Bailey says market rate pricing for February looks reasonable -- Reuters

        • Swedish Riksbank cuts policy rate by 0.25 percentage points to 2.5%; policy rate may be cut once again during H1 2025 -- link

        • Norges Bank keeps policy rate unchanged at 4.5%; says will most likely be reduced in March 2025 -- link

        • Czechs Pause Rate Cuts But Leave Door Open for More Easing -- Bloomberg

      • Russia

        • Putin says Russia is ready to compromise with Trump on Ukraine war -- Reuters

      • Germany

        • Scholz's Far-Right Rival Puts Germany's EU Exit on the Ballot -- Bloomberg

      • Ireland

        • Labour Party set to pull out of talks on forming next government -- Irish Times

      • Italy

        • Govt calls confidence vote over deficit-cutting 2025 budget -- Reuters

    • Company news:

      • Notable Gainers

        • +29.5% BIOA.B.SS (BioArctic SEK210.60, +50.20) -- global license agreement with Bristol Myers Squibb

        • +26.1% ESENSE.FH (Enersense International €2.55, +0.60) -- sale of its wind and solar power project development business to Fortum

        • +10.6% EXENS.FP (Exosens €18.64, +1.81) -- German parliament approves the 3rd option of the OCCAR night vision contract

        • +9.6% VLA.FP (Valneva €1.87, +0.18) -- exclusive license agreement with Serum Institute of India (SII)

        • +9.6% C3RY.GR (Cherry €0.75, +0.07) -- tangible successes following the organizational restructuring of its core business

        • +8.4% SRP.LN (Serco Group £1.47, +0.12) -- trading update

        • +7.0% SWON.SW (SoftwareONE Holding CHF6.36, +0.41) -- to acquire Crayon Group in cash and share offer with an implied value of NOK144/share

        • +6.2% VH2.GR (Friedrich Vorwerk Group €26.65, +1.60) -- contract

        • +3.6% MMK.AV (Mayr-Melnhof Karton €71.10, +2.50) -- to sell TANN Group

        • +3.6% PAAL.B.DC (Per Aarsleff Holding DKK495.50, +17.00) -- FY earnings

        • +2.5% SUS.SS (Surgical Science Sweden SEK158.10, +3.80) -- to acquire Intelligent Ultrasound (IUG.LN) for £0.13 per share

        • +1.6% DATA.LN (GlobalData £1.88, +0.03) -- new £340M debt financing facilities

        • +0.9% SVT.LN (Severn Trent £25.94, +0.24) -- UK's Ofwat publishes 2024 price review final determinations

        • +0.5% COST.LN (Costain Group £1.11, -0.00) -- successful bidder for a contract to deliver high voltage power supply systems for the HS2 project

        • +0.3% BNOR.NO (BlueNord NOK599.00, +2.00) -- update on Tyra Redevelopment project

        • +0.3% PNN.LN (Pennon Group £6.04, +0.02) -- notes Ofwat's publication of the final determination of price controls for 2025-30 period

      • Notable Decliners

        • -34.2% ALCRB.FP (Carbios €7.20, -3.16) -- postpones construction of its Longlaville PET biorecycling plant for 6 to 9 months; cites delay to non-dilutive sources of financing

        • -15.4% CAN.LN (Canal+ SA £2.26, -0.36) -- initiated outperform at Oddo; initiated neutral at UBS; initiated buy at CIC Market Colutions

        • -11.1% NETC.DC (Netcompany Group DKK344.20, -41.60) -- Carnegie Securities downgrade

        • -8.3% HAVAS.NA (Havas NV €1.55, -0.13) -- initiated outperform at Oddo; initiated buy at Canaccord Genuity, buy at CIC Market Solutions

        • -4.8% NORION.SS (Norion Bank SEK36.75, -1.80) -- initiated hold at Kepler Cheuvreux

        • -4.6% ELUX.B.SS (Electrolux SEK90.08, -4.32) -- fined €44.5M by French Competition Authority for alleged breaches of antitrust rules in France

        • -4.3% KDEV.SS (Karolinska Development SEK1.03, -0.05) -- participates in portfolio company's (Umecrine Cognition) capital raise; new Chairman

        • -4.1% CRAYN.NO (Crayon Group Holding NOK129.10, -5.50) -- SoftwareONE Holding agrees to acquire Crayon Group in cash and share offer with an implied value of NOK144/share

        • -3.5% AFRY.SS (AFRY AB SEK152.10, -5.50) -- Handelsbanken downgrade

        • -3.0% DOU.GR (Douglas €18.82, -0.59) -- FY earnings

        • -2.5% KMR.LN (Kenmare Resources £3.17, -0.08) -- updates on the renewal of Moma's mine Implementation agreement

        • -1.9% FNAC.FP (Fnac Darty €29.00, -0.55) -- not to contest the grievance notified by French competition authority in relation to an alleged vertical agreement in the domestic appliance sector

        • -1.9% CRNA.NO (Circio Holding NOK0.80, -0.01) -- final results of the warrant exercise

        • -1.8% ZURN.SW (Zurich Insurance Group CHF536.40, -9.60) -- UBS downgrade

        • -1.6% SKIS.B.SS (SkiStar SEK160.40, -2.70) -- Q1 earnings

        • -1.1% NOVN.SW (Novartis CHF0.00, -1.00) -- closes Morphosys sites; around 330 jobs affected -- WiWo

    • EU companies reporting tomorrow:

      • Earnings: HORNBACH Holding (HBH.GR)

      • CMD/events: Severn Trent (SVT.LN) investor presentation and Q&A on PR24 final determination, Nordea Bank (NDA.FI.FH) Q4 2024 pre-close call for analysts at 12:30 CET

  • Data:

    • Economics:

      • European Automobile Manufacturers' Association (ACEA) November new passenger car registrations for EU + EFTA + UK (2.0%) y/y

      • Netherlands Nov Unemployment Rate 3.7% vs consensus 3.6% and prior 3.7%

      • Germany Jan GfK Consumer Confidence (21.3) vs consensus (22.5) and prior revised (23.1) from (23.3)

      • Trade Balance

        • Switzerland Nov CHF5.42B vs consensus CHF6.2B and prior revised CHF8.03B from CHF8.06B

        • Spain Oct (€3.93B) vs consensus (€4.2B) and prior (€3.30B)

      • France Dec Business Survey 97 vs consensus 96 and prior 97

      • Nov Swiss Watch Exports (3.8%) to CHF2.4B

    • Markets:

      • WTI Crude (Jan 25): ($0.33) or (0.47%) to $70.25

      • €-$ +0.0021 or +0.20% to 1.0376

      • £-$ (0.0022) or (0.17%) to 1.2552

      • €-£ +0.0032 to 0.8267

      • S&P 500 +0.79%

      • Performance year-to-date

        • FTSE 100: +4.81%

        • DAX: +19.39%

        • CAC: (3.30%)

        • MIB: +11.41%

        • Stoxx 600: +5.78%

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