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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.04%), DAX (0.79%), CAC40 (0.21%)

Dec 20 ,2024

  • Synopsis

    • European indicies are set to open slightly lower as Asia equities recover from a negative start to trade mixed Friday. Many benchmarks off their low points with several now positive.

    • US equities were mostly lower in Thursday trading as stocks ended near worst levels. Market came off premarket/early session strength following a big Wednesday selloff chalked up to the hawkish guidance that accompanied the Fed's 25 bp rate cut.

    • In central banks, Norges Bank's Longva and Børsum speak at 9:00CET at Bank's Regional Network, Region East and Longva speech at 12:00CET at event organised by Statsøkonomisk Forening.

    • Economic: Germany Nov PPI, UK Nov retail sales, public sector net borrowing, Dec distributive trades - CBI, Italy Dec business/consumer confidence, Nov PPI, Oct industrial sales, France Nov PPI, Eurozone Dec flash consumer confidence, Sweden Nov PPI, retail sales, Denmark Nov retail sales, Finland Nov PPI

    • UK Nov car manufacturing (30.1%) y/y to 64,216 units -- SMMT

    • In Corporate news: (HBH.GR) Hornbach Holding reports Q3 EPS €1.06 vs year-ago €1.76. (CICN.SW) Cicor Technologies reports 9M net profit CHF17.4M vs year-ago CHF11.5M

  • Politics/Macro/World News

    • Norway keeps rates on hold, eyes three cuts in 2025 (Reuters )

    • Russia struggles to tame inflation in 'overheating' war economy (FT )

    • French PM Francois Bayrou hopes to have budget ready by mid-February (France24 )

  • Top company news

    • Earnings/updates

      • EDP.PL (EDP-Energias de Portugal) -- estimates potential losses associated to cancellation of wind projects in Colombia at €0.5B, net of minorities

      • EDPR.PL (EDP Renovaveis) -- decides not to proceed with the investments in its 0.5 GW wind projects in La Guajira region in Colombia

      • COFB.BB (Cofinimmo) -- completes the divestment of 11 office buildings and 5 healthcare real estate assets this week for more than €110M

      • FLOW.NA (Flow Traders) -- reports November 2024 market statistics

      • TESB.BB (Tessenderlo Group) -- guides FY adjusted EBITDA (15%)-(20%) y/y vs prior guidance (5%)-(10%) and FactSet (6.5%)

    • M&A

      • SHEL.LN (Shell Plc) -- ONGC in exclusive talks with Shell Plc-owned Sprng Energy to acquire 125MW operating solar project -- Economic Times (19-Dec; 17:50 GMT/23:20 IST)

      • ASC.IM (Ascopiave) -- A2A S.p.A. and Ascopiave sign contract for the sale of gas network assets

      • SAN.SM (Banco Santander) -- Santander has entered into an agreement with Crédit Agricole S.A. for the sale of its 30.5% stake in CACEIS; terms not disclosed

      • SBMO.NA (SBM Offshore) -- announces FPSO Liza Destiny purchase by ExxonMobil Guyana completed

      • SANB11.BZ (Banco Santander (Brasil)) -- and BTG Pactual reportedly in talks to acquire Julius Baer's Brazil operations - Bloomberg

      • COV.FP (Covivio) -- announces acquisition of Iberostar Las Dalias hotel in Tenerife for €81M

      • COFB.BB (Cofinimmo) -- completes the divestment of 11 office buildings and 5 healthcare real estate assets this week for more than €110M

      • ARBN.SW (Arbonia) -- updates on closing of sale of Climate Division; EU Commission approval expected by end of January 2025

      • LINK (Interlink Electronics) -- announces acquisition of Conductive Transfers Limited

      • RTW.LN (RTW Biotech Opportunities) -- Sanofi to acquire Greater China rights to aficamten from Corxel Pharmaceuticals; terms undisclosed

      • TFBANK.SS (TF Bank) -- fulfils final condition for completion of 80.1% majority stake transfer in subsidiary Rediem Capital AB

      • PHLY.NO (Philly Shipyard) -- completes previously announced sale of subsidiary Philly Shipyard, Inc. to Hanwha

    • Healthcare

      • ZEAL.DC (Zealand Pharma) -- FDA issues Complete Response Letter (CRL) for Zealand Pharma's NDA for glepaglutide; application does not meet full requirements for substantial evidence, recommends additional clinical trial

      • ZEAL.DC (Zealand Pharma) -- Follow-up: FDA issues CRL for Zealand Pharma's glepaglutide

      • SANN.SW (Santhera Pharmaceuticals Holding) -- Santhera Pharmaceuticals Holding's AGAMREE (Vamorolone) approved in Hong Kong as a treatment for Duchenne Muscular Dystrophy

      • OXUR.BB (Oxurion) -- French Ministry of the Economy, Finance and Industry approves Oxurion's strategic transaction under specific conditions

    • Other

      • EDEN.FP (Edenred) -- to cancel 2.0M treasury shares

      • FGR.FP (Eiffage) -- consortium awarded contract for the renovation of 569 social housing units in the Glacis district of Dunkirk (France), in a deal worth €54.5M

      • ACS.SM (ACS SA) -- board approves the second execution of the flexible dividend for around €0.45/sh,

      • TRMD.A.DC (TORM Plc) -- files automatic mixed shelf of indeterminate amount - F-3ASR

      • EUROB.GA (Eurobank Ergasias Services & Holdings) -- initiates process to merge with its 100% subsidiary Eurobank S.A.; Eurobank S.A. will be remaining entity

      • BFF.IM (Banca Farmafactoring) -- BFF Bank appoints Domenico Gammaldi as new management representative responsible for anti-money laundering, effective as of 1-Jan-25

      • GenusPlus Group JV with ACCIONA receives notice to proceed from Transgrid in relation to HumeLink Transmission Project

      • Goldman Sachs takeaways from Beverage Bites survey

      • Telsey Advisory Group 2025 Consumer Outlook

  • Key rating changes

    • Upgrades

      • FRA.GR (Fraport) -- to overweight from neutral at JPMorgan

      • GMAB.DC (Genmab) -- to market perform from underperform at Bernstein

      • SOBI.SS (Swedish Orphan Biovitrum) -- to buy from hold at DnB Markets

    • Downgrades

      • TMV.GR (TeamViewer) -- to neutral from buy at Goldman Sachs

  • Data

    • Nikkei (0.29%) to 38701.90

    • Hang Seng +0.05% to 19762.68

    • Shanghai Composite (0.12%) to 3365.86

    • S&P futures (13.5) vs prior close of 5934.0

    • €-$ +0.0009 or +0.09% to 1.0373

    • $-¥ (0.44) or (0.28%) to 157.00

    • €-¥ (0.33) or (0.20%) to 162.82

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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