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StreetAccount Summary - Europe Pre-Open: Futures FTSE +0.03%, DAX +0.30%, CAC40 +0.21%

Feb 12 ,2025

  • Synopsis

    • European equity markets are set for a positive open amidst advancing Asian equities Wednesday. Hang Seng leading China markets higher though price action relatively muted elsewhere with Japan, Korea, Australia and Taiwan logging mild gains. S&P 500 futures lower afterhours.

    • In central banks, Riksbank's Bunge in London and delivers speeches at 10:00GMT at event hosted by JPMorgan and 14:00GMT at SEB's Northern Thoughts Day. ECB's Elderson webcast ay 10:00GMT hosted by MNI title 'Climate Change: Impact on Monetary Policy & Bank Supervision'. Frankfurt Digital Finance conf sees Bundesbank's Mauderer speech at 12:00CET, panellist at 12:20. BOE's Greene speech at ~ 14:30GMT at the Institute of Directors, title Impact of global developments on the UK economy. Bundesbank's Nagel lecture at 17:00GMT at event organised by OMFIF. Latvian Capital Market Forum, speakers include central bank's Kazāks at 8:15CET. Bank of Italy's Perrazzelli speech at 9:15CET at BIS' conf Quantum-readiness for central banks and supervisors.

    • OPEC Monthly Report. In the UK, after MP's questions on science, innovation and technology, there's weekly PMQs at 12noon GMT. Committee topics include Airports and economic growth at 9:15, Nitrogen at 10:00, FCA and PRA's secondary competitiveness and growth also at 10:00, work of HM Treasury at 14:30 and retrofitting homes for net zero at 15:00. Reportedly, Chancellor Reeves will be meeting with leading high-street bank officials to discuss the government's economic growth agenda. EU's Dombrovskis meets with Central Bank of Austria's Holzmann whilst EU's von der Leyen and President of the European Council Costa, meet PM of Canada, Justin Trudeau. Norway's minister of energy Aasland answers questions at 11:30CET in parliament.

    • A light macro front includes Italy Dec industrial production and Portugal Jan final CPI

    • A busy earnings calendar kicked off with results from Heineken (HEIA.NA) reporting FY EPS (beia) €4.89 vs consensus €4.63 and a €1.5B buyback as well as Ahold Delhaize (AD.NA) out with Q4 EPS €0.69 vs consensus €0.68. In Germany, Siemens Energy (ENR.GR) reported Q1 EPS €0.23 vs FactSet €0.18 and Deutsche Börse (DB1.GR) released Q4 EPS €2.76 vs consensus €2.53 yesterday after market close. Other companies out with results include Schindler Holding (SCHN.SW), Aker BP (AKRBP.NO), M6-Metropole (MTT.FP), Telekom Austria (TKA.AV), ABN AMRO Bank (ABN.NA), Randstad (RAND.NA), Mowi (MOWI.NO), Jenoptik (JEN.GR), Carl Zeiss Meditec (AFX.GR) and Storebrand (STB.NO).

  • Macro

    • Brexit reset tested as Brussels and London fight about finance - Politico

    • Nationwide warns Reeves against cutting tax breaks on cash Isas - Guardian

Top company news

  • Earnings/updates

    • Benelux:

      • HEIA.NA (Heineken) -- reports FY EPS (beia) €4.89 vs consensus €4.63; hikes divi by +7.5%, announces €1.5B buyback and guides FY25

      • AD.NA (Ahold Delhaize) -- reports Q4 EPS €0.69 vs consensus €0.68; introduces outlook for 2025: expects to see diluted underlying earnings per share growth in mid- to high-single digits

      • ABN.NA (ABN AMRO Bank) -- reports Q4 net income €397M vs consensus €433M

      • RAND.NA (Randstad) -- reports Q4 underlying EPS €0.23 vs consensus €0.73

    • DACHs:

      • ENR.GR (Siemens Energy) -- reports Q1 EPS €0.23 vs FactSet €0.18 [6 est, €0.05-0.27]

      • DB1.GR (Deutsche Börse) -- reports Q4 EPS €2.76 vs consensus €2.53

      • SCHN.SW (Schindler Holding) -- reports Q4 EPS CHF2.35 vs StreetAccount CHF2.16

      • AFX.GR (Carl Zeiss Meditec) -- reports Q1 EPS €0.36 ex-items vs FactSet €0.29 [6 est, €0.22-0.42]

      • TKA.AV (Telekom Austria) -- reports Q4 net income €185M vs consensus €135M; proposes 11% dividend increase

      • C3RY.GR (Cherry) -- announces preliminary figures for FY 2024, figures below last forecast

      • DKSH.SW (DKSH Holding) -- reports FY core profit after tax CHF225.7M vs consensus CHF230.5M; mid-term roadmap confirmed

      • TMV.GR (TeamViewer) -- reports Q4 adjusted EBITDA €83.0M vs FactSet €81.6M [3 est, €80-82.5M]

      • JEN.GR (Jenoptik) -- reports prelim FY EBITDA ~€222M vs FactSet €220.7M [12 est, €218.1-223M]; uncertainty likely to continue in H1

      • HDD.GR (Heidelberger Druckmaschinen) -- reports Q3 Net income (€7M) vs FactSet (€7.6M) [2 est, (€8.2)-(6.9M)]; FY forecast confirmed

      • VOE.AV (Voestalpine) -- reports Q3 Profit after tax from continuing operations €23.8M vs year-ago €96.9M

    • France:

      • MMT.FP (M6-Metropole) -- reports FY net income €173.1M vs FactSet €187.6M [5 est, €175.2-203M]

      • PIG.FP (Haulotte Group) -- reports FY revenue €634M vs FactSet €686.7M [3 est, €683-690M]

    • Nordics:

      • MOWI.NO (Mowi) -- reports Q4 underlying EPS €0.31 vs FactSet €0.28 [9 est, €0.23-0.32]

      • AKRBP.NO (Aker BP) -- reports Q4 EPS $0.89 vs FactSet $0.77 [12 est, $0.64-0.94]

      • STB.NO (Storebrand) -- reports Q4 cash EPS NOK1.66 vs consensus NOK2.05; hikes divi by 15% (

      • CGCBV.FH (Cargotec) -- Cargotec's board amends long-term financial targets set for Hiab to reflect the business' standalone future

      • ELK.NO (Elkem) -- reports Q4 EPS (NOK0.03) vs FactSet NOK0.27 [5 est, NOK0.16-0.47]

      • CAT.B.SS (Catella) -- reports Q4 EPS SEK0.67 vs year-ago (SEK0.85)

      • NAVA.NO (Navamedic) -- reports Q4 net income (NOK20.2M) vs year-ago (NOK0.9M)

      • AMBEA.SS (Ambea) -- reports Q4 EPS SEK1.75 vs FactSet SEK1.83 [2 est, SEK1.55-2.11]

      • SADG.NO (Sandnes Sparebank) -- reports Q4 net income NOK1.05B, (16%) vs year-ago NOK1.25B

      • CRAYN.NO (Crayon Group Holding) -- reports final FY earnings inline with prelim. release; Q4 EPS NOK0.47 vs FactSet NOK1.95 [3 est, NOK1.60-2.55]

      • WAWI.NO (Wallenius Wilhelmsen) -- reports Q4 EPS $0.63 vs FactSet $0.54 [5 est, $0.50-0.58]

      • IRLAB.A.SS (IRLAB Therapeutics) -- reports FY EPS (SEK1.60) vs FactSet (SEK1.35) [2 est, (SEK2.33)-(0.37)]

      • SBO.NO (Selvaag Bolig) -- reports Q4 EPS NOK0.50 vs FactSet NOK0.60 [3 est, NOK0.36-1.02]

      • NOHO.FH (NoHo Partners) -- reports Q4 EPS €0.32 vs FactSet €0.25 [4 est, €0.19-0.33]

      • NRC.NO (NRC Group) -- reports Q4 EPS (NOK0.70) vs FactSet (NOK0.04) [3 est, (NOK0.18)-0.11]

      • AMSC.NO (AMSC) -- reports Q4 EPS from cont. ops NOK4.58 vs year-ago (NOK0.82)

      • ENTRA.NO (Entra) -- reports Q4 EPRA NTA NOK160 vs year-ago NOK165; no divi for FY24

      • MING.NO (SpareBank 1 SMN) -- reports Q4 net income NOK1.05B vs FactSet NOK899.0M [5 est, NOK874.9-920.2M]

      • BNOR.NO (BlueNord) -- reports Q4 EPS ($2.90) vs FactSet $0.79 [4 est, $0.40-1.24] (unclear if comparable)

      • WITH.FH (WithSecure) -- reports Q4 EPS (€0.08) vs FactSet (€0.02) [5 est, (€0.07)-0.01]

      • PIHLIS.FH (Pihlajalinna) -- reports Q4 EPS €0.38 vs FactSet €0.33 [5 est, €0.28-0.36]

      • SATS.NO (SATS) -- reports Q4 EPS NOK0.37 vs FactSet NOK0.31 [3 est, NOK0.30-0.32]

      • ACAST.SS (Acast) -- reports Q4 EPS SEK0.70 vs year-ago (SEK0.65)

      • SOFF.NO (Solstad Offshore) -- reports Q4 net income NOK732M vs FactSet NOK804.8M [3 est, NOK660-1.03B]

      • ORRON.SS (Orrön Energy) -- reports Q4 EPS (€0.02) vs FactSet (€0.01) [1 est]

      • SITOWS.FH (Sitowise Group) -- reports Q4 EPS (€0.05) vs FactSet €0.01 [2 est, €0.00-0.01]

      • ANORA.FH (Anora Group) -- reports Q4 operating income €22.2M ex-items vs FactSet €19.8M [4 est, €18.9-20.8M]

      • LIAB.SS (Lindab International) -- reports Q4 EPS (SEK2.24) vs FactSet SEK1.44 [4 est, SEK0.35-2.15]; confirms previously reported preliminary Q4 numbers

      • VOLO.SS (Volati) -- reports Q4 EPS SEK0.38 vs FactSet SEK0.73 [2 est, SEK0.50-0.96]

      • LIME.SS (Lime Technologies) -- reports Q4 EPS SEK1.80 vs FactSet SEK2.09 [3 est, SEK1.84-2.43]

      • MCOV.B.SS (Medicover) -- reports Q4 EPS €0.06 vs FactSet €0.04 [2 est, €0.03-0.05]; hikes divi by 25%

    • Southern Europe:

      • OVS.IM (OVS) -- reports preliminary Q4 revenue growth ~+4% y/y vs FactSet +2.6%

      • BAMI.IM (Banco BPM) -- reports FY adj net income €1.69B vs FactSet €1.49B

  • M&A

    • ANIM.IM (Anima Holding) -- Banco BPM to increase offer for Anima Holding SpA to €7.00/share (cum dividend)

    • CORE.A.SS (Corem Property Group) -- divest eight properties in Halmstad for SEK520M

    • SLHN.SW (Swiss Life Holding) -- acquires ZWEI Wealth; terms undisclosed

    • BPSO.IM (Banca Popolare di Sondrio) -- provides update on board's consideration of BPER Banca's unsolicited offer to acquire the company (post EU close 11-Feb)

    • TIT.IM (Telecom Italia) -- Italian Treasury-led consortium submits new binding bid for Telecom Italia's Sparkle - Reuters

    • DB1.GR (Deutsche Börse) -- reportedly seeking advisors for potential IPO of ISS Stoxx unit -- Bloomberg

    • RNO.FP (Renault) -- Hon Hai Precision Industry is looking to acquire Renault's shares in Nissan - Bloomberg

    • CA.FP (Carrefour) -- announces intension to acquire all of Brazil

    • CO.FP (Casino Guichard-Perrachon) -- announces completion of the transfer by Trinity of its shares in France Retail Holdings to EPEI III

    • 541988.IN (Aavas Financiers) -- Aquilo House & CVC Capital Partners launches public open offer for up to 26.0% stake in Aavas Financiers at INR1,766.69/share cash

    • Beach Energy and GLNG named potential buyers for Westside Energy's Meridian gas plant in Bowen Basin - The Australian, citing sources

    • Dave's Hot Chicken exploring potential sale which could value it at more than $1B, including debt -- Reuters, citing people familiar with the situation

    • David Di Pilla, Bupa working as part of consortium to gain control of Healthscope - The Australian

  • Healthcare

    • SWTX (Springworks Therapeutics) -- issues press release on FDA approval of Gomekli

    • UCB.BB (UCB) -- announces long-term data from BE HEARD^ trials for BIMZELX (bimekizumab) in moderate to severe hidradenitis suppurativa

  • Other

    • CBK.GR (Commerzbank) -- Commerzbank plans job cuts, new targets to keep UniCredit away -- Reuters, citing sources

    • F3C.GR (SFC Energy) -- secures €4M follow-up order from its strategic partner FC TecNrgy Pvt Ltd. for fuel cell solutions to be used by the Indian Ministry of Defence

    • TOM2.NA (TomTom) -- co-founders Harold Goddijn CEO and Corinne Vigreux CMO to acquire €10M worth of shares in the company

    • AMSC.NO (AMSC) -- announces a special dividend of NOK3.9255/share

    • MCOV.B.SS (Medicover) -- appoints John Stubbington as new CEO, effective 1-May-25

    • TAALA.FH (Taaleri) -- appoints Lauri Lipsanen as CFO, effective 12-May

    • BNP.FP (BNP Paribas) -- appoints Philippe Maillard as Chief Operating Officer from 11-Feb

    • DB1.GR (Deutsche Börse) -- resolves to launch share buyback program of €500M

    • SY1.GR (Symrise) -- receives confirmation of validity of its Chinese Patent on SymSave H technology

    • CGCBV.FH (Cargotec) -- shareholders to vote on 26-Mar on company's name change to Hiab (10:45ET)

    • SAVE.SS (Nordnet) -- restores app & web access following technical incident

    • ROO.LN (Deliveroo) -- reportedly preparing for CEO Will Shu to step down as early as this year -- Sky News/Mark Kleinman

    • FING.B.SS (Fingerprint Cards) -- announces preliminary results of rights issue

    • SEC asks to stay climate disclosure litigation; corporates continue to roll back diversity initiatives in intraday thematic developments (11-Feb)

Key rating changes

  • Upgrades

    • HBR.LN (Harbour Energy) -- neutral from sell at Goldman Sachs

    • Stifel upgrades 1SXP.GR, AFX.GR, DIA.IM

    • BPE.IM (BPER Banca) -- to buy from hold at Deutsche Bank

    • Bernstein upgrades LHA.GR; downgrades IAG.LN

  • Downgrades

    • OR.FP (L'Oreal) -- equal-weight from overweight at Morgan Stanley

    • HM.B.SS (H&M Hennes & Mauritz) -- to hold from buy at Deutsche Bank

    • LOG.SM (Logista Integral) -- neutral from outperform at Santander

    • NNIT.DC (NNIT) -- to sell from buy at ABG Sundal Collier

    • WIHL.SS (Wihlborgs Fastigheter) -- to hold from buy at DnB Markets

  • Initiations

    • Kepler Cheuvreux initiates AF.FP, EZJ.LN, IAG.LN, others

    • Mediobanca initiates EUROB.GA; upgrades ALPHA.GA, TPEIR.GA

    • Morgan Stanley initiates AZN.LN, GSK.LN, NOVN.SW, others; upgrades DIM.FP, SRT3.GR; downgrades LONN.SW, MRK.GR; others

  • Other Actions

    • AAK.SS (AarhusKarlshamn) -- resumed hold at Nordea

Data

  • Nikkei +0.42% to 38963.70

  • Hang Seng +2.34% to 21792.86

  • Shanghai Composite +0.47% to 3333.53

  • S&P futures (4.0) vs prior close of 6092.3

  • €-$ (0.0002) or (0.02%) to 1.0361

  • $-¥ +1.10 or +0.72% to 153.60

  • €-¥ +1.10 or +0.70% to 159.11

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.
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