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 - Europe Pre-Open: Futures: FTSE (0.12%), DAX (0.09%), CAC40 +0.11%

Feb 11 ,2025

  • Synopsis

    • European equity markets set to open mixed amidst Asian equities trading mixed Tuesday. Greater China trading lower following a good run on positive DeepSeek-related sentiment. India also lower along with Singapore and a handful of Southeast Asia benchmarks.

    • Trump ordered 25% tariffs on aluminum and steel imports foreshadowed on Sunday. Measures more far reaching than in 2018 with current iteration also applying to finished products and Trump warning tariffs could go higher. Trump also said reciprocal tariffs coming in next 48 hours and he is weighing tariffs on chips, autos and pharmaceutical products in next four weeks. Still no clarity around future of China tariffs, which are now in effect. Trump said he has spoken with Xi since his inauguration but didn't provide details.

    • Also on today's agenda, Chancellor Scholz will take part in what is expected to be the last plenary session of the German Bundestag before the election. He will give a speech on the situation in Germany. In UK, parliamentary committee topics include work of Financial Ombudsman Service at 10:00GMT and The UK-EU reset at 16:00. World Governments Summit (through Thu) and Oslo Energy Forum (through Thu)

    • In central banks, Latvia central bank's Kazāks interview for LTV's "Morning Panorama". BOE's Mann lecture at 8:45GMT at Leeds Beckett Univ. title Economic prospects whilst BOE's Bailey delivers a speech at 12:15GMT at Univ. of Chicago Booth School of Business. The first of the ECB Economic Bulletin pre-releases at 15:00CET before ECB's Schnabel is a panellist at 18:00CET at event organised by Institut für Arbeitsmarkt- und Berufsforschung. Riksbank's Seim discusses the economic situation at 18:00CET at event organised by Consensus Asset Management.

    • European macro data releases out today include France Q4 unemployment rate, UK Jan retail sales monitor - BRC, Norway Q4 GDP

    • In earnings news, DACHs names kicked off the session with SGS (SGSN.SW), CECONOMY (CEC.GR) and TUI Group (TUI1.GR) reporting their latest numbers. In France, Inventiva (IVA.FP) reported preliminary FY revenue and released its business update, whilst Beneteau (BEN.FP) reported preliminary FY earnings and raised its operating margin expectations. Also in France, Kering (KER.FP) released FY earnings numbers and indicated that it will continue to deploy its strategy with aim of achieving a profitable long-term growth trajectory. Kering Q4 Comparable change Group (12%) vs StreetAccount (15.0%), with Gucci (24%) vs SA (23.3%), YSL (8%) vs SA (11.0%) and Bottega Veneta +12% vs SA +5.4%.

    • In Italy, UniCredit (UCG.IM) reported Q4 number and Mediobanca (MB.IM) issued Q2 earnings with the latter reaffirming FY25 guidance and raising 2026 targets. In Nordics, Aker Solutions (AKSO.NO), Vår Energi (VAR.NO), Bravida Holding (BRAV.SS) and Stora Enso (STERV.FH) are amongst other in the region to update investors with their latest numbers. Other notable companies due to report today includes Telekom Austria (TKA.AV), Deutsche Borse (DB1.GR), Fortum (FORTUM.FH), Metropole Television (MMT.FP), and BP (BP.LN)

  • Politics/Macro/World News

    • EU plans radical budget overhaul handing more power to capitals - FT

    • Spain pushes to double EU budget to over €2 trillion - Politico

    • Trump expands steel and aluminum tariffs to all countries - Politico

    • Trump says Gaza ceasefire should be cancelled if Israeli hostages not freed - The Guardian

    • BOE's Hawk-Turned-Dove Says Weak Demand Outweighs Inflation Risk - Bloomberg

    • NATO's new armaments targets could be expensive for Germany - Handelsblatt

  • Top company news

    • Earnings/updates

      • DACHs

        • SGSN.SW (SGS) -- reports FY EPS before restructuring costs CHF3.44, unclear if comparable to StreetAccount CHF3.59

        • LAND.SW (Landis+Gyr Group) -- Follow-up: Landis+Gyr Group AG expects FY24 net revenues to decline by ~8% y/y; lowers FY24 guidance

        • LAND.SW (Landis+Gyr Group) -- AG to discontinue the EV charging business and record impairment as well as restructuring charges in relation to this decision

        • CEC.GR (CECONOMY) -- reports Q1 adjusted EPS €0.39 vs year-ago €0.35

        • TUI1.GR (TUI Group) -- reports Q1 underlying EPS (€0.17) vs FactSet (€0.18) [1 est]; re-affirms FY24 and mid-term abnitions

        • AMS.SW (ams-OSRAM) -- reports Q4 adj EPS €0.03 vs FactSet €0.09 [6 est, (€0.17)-0.46]; guides Q1 and FY25

      • France

        • IVA.FP (Inventiva) -- reports preliminary FY 2024 revenue €9.2M vs FactSet €7.7M; provides business update

        • BEN.FP (Beneteau) -- reports prelim FY revenue €1.03B vs FactSet €995.0M [6 est, €969.9-1.01B]; ordinary operating margin expected to come in significantly higher than the latest forecasts

        • ALVU.FP (Vente-Unique.com) -- reports Q1 revenue €50.1M, +11% vs year-ago €45.1M

        • KER.FP (Kering) -- reports FY recurring net income €1.31B vs consensus €1.35B; continues to deploy its strategy with aim of achieving a profitable long-term growth trajectory

      • Nordics

        • AKSO.NO (Aker Solutions) -- reports Q4 EPS NOK1.70 vs FactSet NOK0.97

        • EMGS.NO (Electromagnetic Geoservices) -- reports Q4 EPS $0.06 vs year-ago ($0.03)

        • VAR.NO (Vår Energi) -- reports Q4 EPS ($0.08) vs FactSet $0.05 [10 est, ($0.03)-0.11]; guides FY25 production 330-360 kboepd

        • CTM.SS (Catena Media) -- reports Q4 EPS cont ops (€0.02) vs year-ago (€0.47)

        • ELO.NO (Elopak) -- reports Q4 EPS €0.04 ex-items vs FactSet €0.06 [5 est, €0.05-0.07]

        • HPUR.NO (Hexagon Purus) -- reports Q4 EPS (NOK1.37) vs FactSet (NOK0.49) [4 est, (NOK0.52)-(0.46)]

        • MULTI.NO (Multiconsult) -- reports Q4 EPS NOK3.28 vs FactSet NOK3.80 [6 est, NOK3.06-4.19]

        • IPCO.SS (International Petroleum Corp) -- reports Q4 net income $0.4M vs FactSet $31.0M [7 est, $17-66.6M]; guides FY25

        • SVED.B.SS (Svedbergs Group) -- reports Q4 EPS SEK0.94 vs FactSet SEK0.77 [4 est, SEK0.67-0.84]

        • KEMIRA.FH (Kemira) -- reports Q4 EPS €0.31 vs FactSet €0.42 [7 est, €0.34-0.47]

        • WIHL.SS (Wihlborgs Fastigheter) -- reports Q4 EPRA NRV per share SEK93.58 vs year-ago SEK89.17

        • FG.SS (Fasadgruppen Group) -- reports Q4 EPS (SEK0.98) vs FactSet SEK1.83 [2 est, SEK1.40-2.26]

        • SANOMA.FH (Sanoma) -- reports Q4 EPS (€0.21) ex-items vs FactSet (€0.27) [5 est, (€0.33)-(0.24)], raises dividend +5% y/y, guides 2025

        • BRAV.SS (Bravida Holding) -- reports Q4 EPS SEK2.06 vs FactSet SEK2.25 [3 est, SEK2.19-2.36]

        • HANZA.SS (HANZA AB) -- reports Q4 EPS SEK0.71 vs FactSet SEK1.04 [2 est, SEK0.96-1.12]

        • MUSTI.FH (Musti Group) -- reports Q4 EPS €0.08 vs year-ago €0.17

        • TLT1V.FH (Teleste) -- reports Q4 EPS €0.08 vs FactSet €0.01 [1 est]; reinstates divi and guides FY25

        • STERV.FH (Stora Enso) -- reports Q4 adj EBIT €121M vs consensus €122.4M

        • DUNI.SS (Duni) -- reports Q4 EPS SEK2.14 vs year-ago SEK1.70

      • Benelux

        • BAR.BB (Barco) -- reports FY net income €63.0M vs FactSet €56.6M [6 est, €45-68.9M]

        • WHA.NA (Wereldhave) -- reports FY DRPS €1.76 vs guidance €1.75

      • Southern Europe

        • UCG.IM (UniCredit) -- reports Q4 net income €1.56B vs consensus €1.44B; FY25 guidance of net profit and RoTE broadly in line with FY24 despite macro headwinds

        • MB.IM (Mediobanca) -- reports Q2 net income €329.7M vs FactSet €306.1M [5 est, €299-314M], reaffirms FY25 guidance, raises 2026 targets (post EU close 10-Feb)

        • ILTY.IM (illimity Bank) -- reports Q4 adjusted net income €9.2M vs FactSet €11M; Board evaluating offer from Banca Ifis

      • Also reporting today

        • Earnings:

          • Austria: Telekom Austria (TKA.AV), EuroTeleSites (ETS.AV)

          • Finland: Fortum (FORTUM.FH), Olvi (OLVAS.FH)

          • France: Metropole Television (MMT.FP), EUROAPI (EAPI.FP)

          • Germany: Deutsche Borse (DB1.GR)

          • Italy: Cementir Holding (CEM.IM)

          • Netherlands: Wereldhave (WHA.NA)

          • Norway: Salmon Evolution (SALME.NO), Nordic Mining (NOM.NO)

          • Sweden: Investment AB Latour (LATO.B.SS), Fenix Outdoor International (FOI.B.SS), Sdiptech (SDIP.B.SS), Proact IT Group (PACT.SS), I.A.R. Systems Group (IAR.B.SS), Prevas (PREV.B.SS)

          • Switzerland: SGS (SGSN.SW), ams-OSRAM (AMS.SW)

          • UK: BP (BP.LN), TUI (TUI.LN), Dunelm Group (DNLM.LN), MJ Gleeson (GLE.LN)

        • Trading Update: Assystem (ASY.FP), Claranova (CLA.FP), Haulotte Group (PIG.FP), S&U (SUS.LN)

        • CMD/events: Pershing Square Holdings (PSH.LN),

    • M&A

      • MRK.GR (Merck KGaA) -- confirms discussions with Springworks Therapeutics on potential acquisition

      • DSFIR.NA (DSM-Firmenich) -- Novonesis to acquire dsm-firmenich's share of the Feed Enzyme Alliance for a total cash consideration of €1.5B

      • VBX.GR (Voltabox) -- announces management changes, exit of majority shareholder, acquisition of EKM Elektronik

    • Healthcare

      • ROG.SW (Roche Holding) -- Roche Holding's Flatiron to present three abstracts by poster presentation at ASCO GU

      • BIM.FP (bioMerieux) -- receives U.S. FDA clearance for its BIOFIRE FILMARRAY Gastrointestinal (GI) Panel Mid

      • COPN.SW (Cosmo Pharmaceuticals) -- appoints Andrea Cherubini as Chief AI Officer effective immediately

      • RLF.SW (RELIEF THERAPEUTICS Holding) -- announces European Patent Office decision to grant patent for RLF-TD011; previously received notice of allowance

    • Other

      • ML.FP (Cie Generale des Etablissements Michelin SA) -- Michelin exploring whether to speed up US investments to counter threat of tariffs - FT, citing CEO

      • AKSO.NO (Aker Solutions) -- announces contract for BalWin 1 Offshore Wind Project

      • PLX.FP (Pluxee) -- announces launch of €15M share buyback program

      • Carlyle Group's Nouryon reportedly confidentially filed for IPO; expected as soon as 2Q25 and potentially valued ~$13B - Bloomberg

      • Microsoft purchases 389 MW of electricity, renewable energy credits via VPPA with EDP Renewables

  • Key rating changes

    • Upgrades

      • UBSG.SW (UBS Group) --to buy from hold at Deutsche Bank,

      • ALPHA.GA (Alpha Services & Holdings) -- to buy from neutral at Goldman Sachs

      • EL.FP (EssilorLuxottica) -- EssilorLuxottica transferred buy at Jefferies; prior rating was hold

      • EQNR.NO (Equinor) -- to buy from hold at HSBC

      • FEVR.LN (Fevertree Drinks) -- Fevertree Drinks resumed hold at Peel Hunt; prior rating was reduce

    • Downgrades

      • BAER.SW (Julius Baer Group) -- to hold from buy at Kepler Cheuvreux

      • EDP.PL (EDP-Energias de Portugal) -- to equal-weight from overweight at Morgan Stanley

      • BIRG.ID (Bank of Ireland Group) -- to underperform from neutral at Mediobanca

      • EUROB.GA (Eurobank Ergasias Services & Holdings) -- to neutral from buy at Goldman Sachs

    • Initiations

      • DIA.IM (DiaSorin) -- buy at Deutsche Bank

      • JYSK.DC (Jyske Bank) -- hold at Carnegie Securities

  • Data

    • Nikkei +0.00% to 38801.17

    • Hang Seng (0.62%) to 21389.29

    • Shanghai Composite (0.22%) to 3314.70

    • S&P futures (15.0) vs prior close of 6088.8

    • €-$ +0.0001 or +0.01% to 1.0309

    • $-¥ (0.08) or (0.06%) to 151.91

    • €-¥ (0.11) or (0.07%) to 156.57

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