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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.02%), DAX (0.10%), CAC +0.06%

Jan 10 ,2025

  • Synopsis

    • European equity market are set to open softer amidst Asia equities weaker almost everywhere Friday. Singapore worst off amid a selloff in banks following record highs this week. Japan's two major benchmarks also steeply lower, greater China markets all at their day's low, Australia down but off its trough. Kospi flat, Taiex down, Southeast Asia down, India a few points ahead. US futures ticking lower. US dollar marginally higher, AUD and NZD skirting with three-year lows again, yen and yuan unchanged. Crude blends, precious metals higher, industrial metals again mixed. Cryptocurrencies regaining some poise.

    • In central banks, National Bank of Serbia interest rate decision is due. In Germany, there's the start of the CDU Federal Executive Board's winter retreat. Among other things, an "Agenda 2030" is to be adopted there, with which the CDU wants to make Germany and its ailing economy internationally competitive again. There's Detroit Auto Show.

    • Macroeconomic updates include: Switzerland Dec Unemployment, France/Spain/Austria/Sweden/Greece Nov Industrial Production, Denmark/Norway Dec CPI, Italy Nov Retail Sales, Netherlands Nov manufacturing production

    • In corporate news, VIiriden (VIRI.FP) reported yesterday after the close preliminary FY revenue slightly above $1.10B vs FactSet $1.10B. Also in France, Ubisoft (UBI.FP) announced appointment of leading advisors to review and pursue various transformational strategic and capitalistic options. Company also reported Q3 net bookings lower than expected. Innate Pharma (IPH.FP) announced transformative strategy to accelerate growth. In the Nordics, Ambu (AMBU.B.DC) reported preliminary Q1 revenue DKK1.51B ahead of FactSet DKK1.42B. Bang & Olufsen (BO.DC) is also expected to update investors. Meanwhile in Italy, Del Vecchio holding's Delfin increases stake in Banca Monte dei Paschi di Siena (BMPS.IM) to 9.78% from 3.51%.

    • On M&A front, Warehouses de Pauw (WDP.BB) acquires Renault site in Vilvoorde for €100M. Unibail-Rodamco-Westfield (URW.FP) sells 25% stake in Centrum Černý Most in Prague to Upvest and RSJ Investments.

  • Politics/Macro/World News

    • Zelenskyy in final pitch for US weapons before Trump enters White House - FT

    • Elon Musk's man in the European Parliament - Politico

    • Labour Britain is the new 'PIGS' of the global markets - Telegraph

    • UK Bond selloff puts Reeves' Economic Project on the brink - Bloomberg

    • Hungarian energy bid under review over Russia concerns, says Romanian minister - FT

    • Netherlands Nov Manufacturing Production +1.3% m/m vs consensus +0.2% and prior revised +0.1% from (0.6%)

  • Top company news

    • Earnings/updates

      • AIR.FP (Airbus SE) -- Airbus reports 2024 deliveries 766 aircrafts vs guidance of around 770

      • UBI.FP (Ubisoft Entertainment) -- Ubisoft appoints leading advisors to review and pursue various transformational strategic and capitalistic options. Q3 net bookings lower than expected

      • AMBU.B.DC (Ambu) -- reports preliminary Q1 revenue DKK1.51B vs FactSet DKK1.42B [4 est, DKK1.39-1.44B]

      • VIRI.FP (Viridien) -- reports preliminary FY revenue slightly above $1.10B vs FactSet $1.10B [6 est, $1.08-1.13B]

      • IPH.FP (Innate Pharma) -- Announces Transformative Strategy to Accelerate Growth

    • M&A

      • WDP.BB (Warehouses de Pauw) -- acquires Renault site in Vilvoorde for €100M

      • SAN.FP (Sanofi) -- EU sets a provisional deadline of 12-Feb to rule on CD&R's acquisition of Opella

      • TKA.GR (ThyssenKrupp) -- confirms that several companies have expressed interest in possible partnership with TKMS - Reuters

      • URW.FP (Unibail-Rodamco-Westfield) -- sells 25% stake in Centrum Cerný Most in Prague to Upvest and RSJ Investments

      • BG.AV (BAWAG Group) -- reports acquisition of Barclays Consumer Bank Europe receives all regulatory approvals

      • LLBN.SW (Liechtensteinische Landesbank) -- completes previously announced acquisition of Zürcher Kantonalbank Österreich AG

    • Healthcare

      • ABVX.FP (Abivax) -- Achieves Key Milestone in Phase 3 ABTECT Trial Enrollment

    • Other

      • IPS.FP (Ipsos) -- assigned long-term credit ratings of Baa3 with a stable outlook by Moody's, and BBB with a stable outlook by Fitch.

      • BBVA.SM (Banco Bilbao Vizcaya Argentaria) -- to modify the Offer made to Sabadell by reducing the minimum acceptance condition provided in the prior announcement

      • HOLN.SW (Holcim) -- chairman Jan Jenisch to step down to be chairman/CEO of planned North American company

      • NDX1.GR (Nordex) -- receives orders totalling 259 MW from Spain

      • BMPS.IM (Banca Monte dei Paschi di Siena) -- Del Vecchio holding's Delfin increases stake in Banca Monte dei Paschi di Siena to 9.78% from 3.51% -- Consob filing

  • Key rating changes

    • Upgrades

      • RKT.LN (Reckitt Benckiser) -- to overweight from equal-weight at Morgan Stanley

      • ANTO.LN (Antofagasta) -- to equal-weight from underweight at Morgan Stanley

      • ATCO.A.SS (Atlas Copco) -- Atlas Copco long-term recommendation upgraded to outperform from market perform at Handelsbanken

      • FLS.DC (FLSmidth & Co.) -- to neutral from sell at Goldman Sachs

      • LR.FP (Legrand) -- to buy from hold at Kepler Cheuvreux

      • HNR1.GR (Hannover Re) -- to outperform from neutral at BNP Paribas Exane

    • Downgrades

      • WCH.GR (Wacker Chemie) -- to hold from buy at Stifel

      • CRDA.LN (Croda International) -- to equal-weight from overweight at Morgan Stanley

      • HLN.LN (Haleon) - to equal-weight from overweight at Morgan Stanley

      • SCR.FP (SCOR SE) -- to neutral from outperform at BNP Paribas Exane

  • Data

    • Nikkei (1.05%) to 39190.40

    • Hang Seng (0.87%) to 19073.09

    • Shanghai Composite (1.01%) to 3178.97

    • S&P futures (16.8) vs prior close of 5959.3

    • €-$ (0.0017) or (0.17%) to 1.0284

    • $-¥ +0.23 or +0.15% to 158.38

    • €-¥ +0.00 or +0.00% to 162.89

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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