Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.48%, DAX +0.14%, CAC40 +0.06%

Jan 17 ,2025

  • Synopsis

    • European indices are set to open slightly higher as Asian equities mixed in quiet trade Friday. S&P futures +8.5 to 5,984.0, +0.14% vs settlement. Monday President-elect Donald Trump will be sworn in on Inauguration Day which coincides with Martin Luther King Day.

    • US equities were mostly lower in somewhat choppy Thursday trading, though breadth positive as equal weight S&P outpaced cap weighted index by ~100 bp.

    • Among central banks: Bundesbank's Nagel speech at 11:00CET at change of office ceremony of the Regional Office in Hesse and event hosted by Austria Central Bank at 11:00CET

    • Chancellor Scholz hosts Swedish PM Kristersson for a working visit. A joint press conf. is planned following the discussion. The Chancellor also due to speak at townhall meeting in Halle (Saale) and takes part in first major federal election campaign event (along with other SDP politicians and VW works council chairwoman) in Wolfsburg. Spain's Secretary General of Energy Rodríguez speaks at 9:00CET at event (livestream) hosted by Nueva Economía Fórum. International Green Week (IGW) gets underway in Berlin.

    • Macroeconomic releases due today includeEconomic: UK Dec Retail Sales, Eurozone/Austria Dec CPI, Spain Nov Trade Balance

    • In corporate news: Zehnder Group (ZEHN.SW) reports prelim FY sales (7%) lower to €705.8M vs FactSet €685.8M [5 est, €679.2-693.5M]. Ion Beam Applications (IBAB.BB) CFO Soumya Chandramouli steps down, effective 31-Jan. Flughafen Wien (FLU.AV) reports Dec Group total passenger traffic +9.5% to 3.01M; provides 2025 guidance

    • Trading Update: OrderYOYO (YOYO.DC)

  • Politics/Macro/World News

    • Netanyahu Says Israel-Hamas Deal to Pause Gaza War On Track (BBG )

    • French PM Bayrou survives no-confidence vote (Reuters )

  • Top company news

    • Earnings/updates

      • DG.FP (VINCI SA) -- VINCI Airports Dec airport passenger traffic +8.0%

      • VIRP.FP (Virbac) -- reports preliminary FY revenue €1.4B vs FactSet €1.4B [8 est, €1.39-1.42B]

      • SMHN.GR (SÜSS MicroTec) -- reports preliminary Q4 revenue €150M; expects FY24 revenue €445M vs guidance €380M-410M

      • CLTN.SW (Coltene Holding) -- reports preliminary FY revenue CHF250.3M vs FactSet CHF247.6M [1 est]

    • M&A

      • GLEN.LN (Glencore) -- Glencore, Rio Tinto not currently in active talks -- Reuters

      • BVI.FP (Bureau Veritas) -- ended merger talks with Intertek in favor of pursuing deal with SGS - FT

      • BVIC.LN (Britvic) -- Carlsberg completes acquisition of Britvic

      • SYSR.SS (Systemair) -- completes the purchase of the final 10% of HSK Türkiye

      • NETEL.SS (Netel Holding) -- initiates process for sale of its Finnish operations

      • Palantir, Lockheed Martin among companies in talks to invest nine figures in Shield AI - The Information

    • Healthcare

      • AZN.LN (AstraZeneca) -- FDA approves Calquence for 1L mantle cell lymphoma (MCL); also converts AA for previously treated MCL

      • RENX.LN (Renalytix) -- discloses transition to foreign private issuer reporting; effective 1-Jan-25 - 8-K

      • IBAB.BB (Ion Beam Applications) -- CFO Soumya Chandramouli steps down, effective 31-Jan

    • Other

      • HLN.LN (Haleon) -- SEC filing: SCHEDULE 13D/A (Filed by PFIZER INC)

      • GIVN.SW (Givaudan) -- Givaudan's 2045 net-zero targets validated by SBTi

      • SGO.FP (Compagnie de Saint-Gobain) -- launches plasterboard made from 100% recycled material

      • AVOL.SW (Avolta) -- board resolves to launch up-to-CHF200M share buyback

      • SPM.IM (Saipem) -- completes sale of stake in KCA Deutag to Helmerich & Payne

      • CABK.SM (CaixaBank) -- issues new perpetual preferred securities contingently convertible; announces tender offer for similar securities (post EU close 16-Jan)

      • SDR.LN (Schroders) -- plans to reduce workforce by up to ~3% - Bloomberg

      • FUR.NA (Fugro) -- completes €50M repurchase programme announced in November

      • FING.B.SS (Fingerprint Cards) -- announces final terms for the partially guaranteed rights issue of up to SEK 160M

      • BAR.BB (Barco) -- announces deal with Regal Cineworld to install Series 4 laser projectors in the US, UK and Europe

      • FactSet Podcast - Evening Market Recap, 16-Jan

      • Regional Gaming Revenues - New Jersey December 2024

      • Street Takeaways - Rio Tinto Q4 production

  • Key rating changes

    • Upgrades

      • Oddo upgrades EPI.A.SS; downgrades DOKA.SW, SAND.SS

      • TD Cowen upgrades SAP, SAP.GR

      • UBS upgrades AZE.BB; transfers BNR.GR

      • ANOD.B.SS (Addnode Group) -- to buy from hold at Kepler Cheuvreux

      • GPE.LN (Great Portland Estates) -- to neutral from sell at UBS

      • ORSTED.DC (Ørsted) -- to buy from hold at ABG Sundal Collier

      • THULE.SS (Thule Group) -- to buy from hold at Carnegie Securities

    • Downgrades

      • VOD.LN (Vodafone Group) -- Vodafone Group resumed hold at HSBC; prior rating was buy

      • WISE.LN (Wise Plc) -- to add from buy at Peel Hunt

      • SEB.A.SS (Skandinaviska Enskilda Banken) -- to hold from buy at DnB Markets

      • ADDT.B.SS (Addtech) -- to hold from buy at DnB Markets

    • Other Actions

      • VIV.FP (Vivendi) -- resumed hold at HSBC; prior rating was buy

  • Data

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