Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.07%, DAX +0.39%, CAC40 +0.37%

Jan 24 ,2025

  • Synopsis

    • European indices are set to open higher as Asian equities advance Friday. Greater China markets strongly higher after Trump suggested he didn't want tariffs on China-made products. Solid gains in Australia and South Korea.

    • BOJ raised interest rates by 25 bp as expected with statement noting likelihood of realising projections has been rising

    • US equities finished higher in quiet Thursday trading. Stocks ended near best levels after a late rally; S&P 500 set its first fresh ATH since 6-Dec, closing above 6100.

    • Notable earnings today included (ERIC.B.SS) Telefonaktiebolaget LM Ericsson reports Q4 adj EBITA SEK10.25B vs consensus SEK10.69B; hikes divi by ~5.6%

    • In central banks, ECB Lagarde in stakeholder dialogue at 11:00CET on 'The global economic outlook' during World Economic Forum and Cipollone panellist at 12:00CET at 13th Institute for Law and Finance Conf. In Spain, VOX's Millán speech at 9:00EST at event hosted by Forum Europa, the same time as Norway's Minister of Trade, Industry & Fisheries Myrseth hosts input conf for Norwegian participation in the EU's next space program, which starts in 2028, and country's Minister of Energy Aasland discusses nuclear power as a possible energy source in Norway with power company Norsk Kjernekraft.

    • Economic: Eurozone, France, Germany, UK Jan preliminary manufacturing/services PMIs, UK Jan consumer confidence - GfK, distributive trade survey, industrial trends orders - CBI, Spain Dec PPI, Sweden Dec unemployment rate, PPI, Finland Dec unemployment rate, PPI

    • Earnings reported this morning : Gjensidige Forsikring (GJF.NO) reports Q4 EPS NOK2.38 vs FactSet NOK2.19 [13 est, NOK1.77-2.52]. BB Biotech (BION.SW) reports preliminary Q4 net income CHF60M vs year-ago CHF109.0M. Signify (LIGHT.NA) reports Q4 net income €119M vs consensus €103M; launches share repurchase program of up to €150M. Emmi (EMMN.SW) reports prelim. FY revenue CHF4.35B vs SA CHF4.29B [5 est, CHF4.25-4.32B]; reaffirms 2024 guidance for EBIT and net profit margin. Givaudan (GIVN.SW) reports FY net income CHF1.09B vs consensus CHF1.11B.

    • Trading Update: Burberry Group (BRBY.LN)

  • Politics/Macro/World News

    • European earnings may keep the mood sweet as tariff fears grow

  • Top company news

    • Earnings/updates

      • AZN.LN (AstraZeneca) -- announces C$820M ($570M) investment in Canada

      • RIO.AU (Rio Tinto) -- provides Iron Ore update following Tropical Cyclone Sean

      • GIVN.SW (Givaudan) -- reports FY net income CHF1.09B vs consensus CHF1.11B

      • LIGHT.NA (Signify) -- reports Q4 net income €119M vs consensus €103M; launches share repurchase program of up to €150M

      • SK.FP (SEB) -- reports preliminary Q4 revenue €2.54B vs FactSet €2.55B [2 est, €2.55-2.56B]

      • SIGHT.FP (GenSight Biologics) -- ' cash and cash equivalents totaled €2.5M as of 31-Dec-24 vs €3.4M on 30-Sep-24

      • EMMN.SW (Emmi) -- reports prelim. FY revenue CHF4.35B vs SA CHF4.29B [5 est, CHF4.25-4.32B]; reaffirms 2024 guidance for EBIT and net profit margin

      • SFSN.SW (SFS Group) -- reports preliminary FY revenue CHF3.04B vs FactSet CHF3.08B [4 est, CHF2.99-3.13B]

      • HPUR.NO (Hexagon Purus) -- announces preliminary Q4 and FY 22024 results; expects Q4 EBITDA (NOK 104M) vs FactSet (NOK 84.5)

    • M&A

      • MB.IM (Mediobanca) -- Monte dei Paschi exploring move to acquire full or partial control of Mediobanca - Bloomberg

      • MRK.GR (Merck KGaA) -- taking cautious approach to M&A amid recovery in sales growth at its existing business - Reuters

      • USAP (Universal Stainless & Alloy Products) -- Aperam completes Universal Stainless & Alloy Products acquisition

      • CBK.GR (Commerzbank) -- CEO Bettino Orlopp demanding written proposal from Unicredit as precondition for meeting Unicredit CEO Andrea Orcel - FT

      • ALTR.PL (Altri SGPS) -- Altri announces acquisition of Greenalia Forest and Greenalia Logistics from Smarttia

      • HTG.GR (HomeToGo) -- announces agreement on key terms for acquisition of Interhome

    • Other

      • TEF.SM (Telefonica) -- SEC filing: SCHEDULE 13D (Filed by Green Bridge Investment Co SCS)

      • MTX.GR (MTU Aero Engines) -- CFO Peter Kameritsch has decided not to extend his contract,

      • GIVN.SW (Givaudan) -- publishes 2024 Integrated Report on economic and ESG performance

      • AVOL.SW (Avolta) -- launches its previously announced public share buyback program of up to CHF 200M

      • 3D Systems and Daimler Truck | Daimler Buses announce solution to facilitate remote spare part printing

      • Arcadium Lithium enters into loan facility commitment letter with Rio Tinto - 8-K

  • Key rating changes

    • Upgrades

      • Berenberg upgrades SHW; downgrades NK.FP

      • Barclays upgradesTomra Systems to overweight from equal weight

    • Downgrades

      • SWED.A.SS (Swedbank) -- to hold from buy at DnB Markets

      • SES (SESG.FP) downgraded to equal weight from overweight

    • Initiations

      • AG1.GR (Auto1 Group) -- hold at Berenberg

  • Data

    • Nikkei (0.07%) to 39931.9

    • Hang Seng +2.03% to 20100.90

    • Shanghai Composite +0.73% to 3253.88

    • S&P futures (5.5) vs prior close of 6152.0

    • €-$ +0.0045 or +0.44% to 1.0462

    • $-¥ (0.75) or (0.48%) to 155.31

    • €-¥ (0.12) or (0.07%) to 162.47

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