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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.55%), DAX (1.06%), CAC40 (0.48%)

Feb 28 ,2025

  • Synopsis

    • European equity markets are set to open with steep losses amidst losses in Asia overnight. US equities also lower overnight with futures flat. Steep declines in Greater China after Trump tariff announcement, South Korea sharply lower as its exporters selloff, Indonesia noticeably lower, the rest of Southeast Asia down. Trump ramped up tariff threat on Thursday, saying Canada and Mexico tariffs will proceed as scheduled on 4-Mar, blaming insufficient efforts to stem flow of fentanyl. Press takeaways from President Trump meeting with UK Prime Minister Starmer largely focused on discussions surrounding Ukraine. Trump also opened door to possible US-UK trade deal without tariffs after meeting.

    • Today, in central banks, ECB consumer inflation expectations published at 10:00CET. Austria central bank's seminar at 11:00CET with Gaël Giraud, CNRS, title Climate-induced economic damages can lead to private-debt tipping points. EU's von der Leyen in India and meets with PM Modi and co-chairs the College-to-Government meeting, EU's Virkkunen also in India and participates in the Trade and Technology Council (TTC) meeting.

    • Amidst busy macro calendar, of note, Germany Feb prelim CPI, unemployment change, Jan retail sales due as well as France Q4 final GDP, Feb preliminary CPI and Italy Feb preliminary CPI.

  • Politics/Macro/World News

    • Key takeaways from Starmer's talks with Trump (BBC )

      • Trump opens door to possible US-UK trade deal without tariffs after meeting with UK PM Starmer (SkyNews )

      • Trump dodges plea from Britain's Starmer for Ukraine security guarantee (Reuters )

    • Trump Curveballs to Test Destination for ECB Rates, Survey Shows (Bloomberg )

    • Trump commends Zelensky ahead of White House talks (BBC )

    • German conservatives, Social Democrats to start exploratory talks today (Reuters )

    • British energy secretary to visit China in March to restart energy talks, sources say (Reuters )

    • Finland Q4 GDP +1.2% y/y vs preliminary +0.7%

  • Top company news

    • Earnings/updates

      • ALV.GR (Allianz) -- Q4 core net income €2.43B vs consensus €2.41B; hikes divi by 11.6% and guides FY25

      • BAS.GR (BASF SE) -- Q4 adj EPS €0.59 vs consensus €0.20; cuts divi by 34% and guides FY25

      • ACKB.BB (Ackermans & Van Haaren) -- FY net income €459.9M vs FactSet €527M; hikes divi by 12%

      • SHUR.BB (Shurgard Self Storage) -- FY Adjusted EPRA earnings per share €1.71 vs FactSet €1.73 [14 est, €1.67-1.77

      • FUR.NA (Fugro) -- FY EPS €2.44 vs FactSet €2.08 [7 est, €1.96-2.31], raises dividend +88% y/y, guides 2025

      • VID.SM (Vidrala) -- FY EPS €8.85 vs FactSet €8.07 [10 est, €7.11-9.01]

      • RJF.SM (Laboratorio Reig Jofre) -- FY net income €10.5M vs FactSet €10.6M [2 est, €10-11.2M]

      • GRF.SM (Grifols) -- guides FY25 EBITDA to exceed €2B vs FactSet €2.00B [11 est, €1.91-2.09B] and provides 5 year long-term targets - Capital Markets Day

      • HOLN.SW (Holcim) -- Q4 recurring EBIT CHF1.17B vs StreetAccount CHF1.14B

      • SGO.FP (Compagnie de Saint-Gobain) -- FY recurring net income €3.47B vs FactSet €3.15B [15 est, €2.54-3.95B]; provides 2025 outlook

      • FR.FP (Valeo SE) -- FY net income €162M vs consensus €269.9M; hikes divi by 5% and guides FY25

      • ALPHA.GA (Alpha Services & Holdings) -- Q4 adjusted net income €195.8M vs FactSet €128.9M [7 est, €103-188M]

      • TEP.FP (Teleperformance) -- reports FY adj net income €807M vs FactSet €897.9M [16 est, €670.7-995.8M]; hikes divi by 9% and guides FY25

      • GNFT.FP (GENFIT) -- FY revenue €67.0M vs FactSet €91.8M [6 est, €43.9-119.4M]

      • FER.SM (Ferrovial) -- Q4 net income from cont ops €2.74B vs year-ago €139M

      • ACS.SM (ACS SA) -- FY net income €828M vs FactSet €748.3M [13 est, €610.8-836M]

      • TCELL.E.TI (Turkcell) -- FY EBITDA TRY69.80B vs FactSet TRY70.15B [11 est, TRY62.83-77.53B]

      • CLN.SW (Clariant) -- Q4 adjusted EBITDA CHF160M vs consensus CHF176.0M

      • VIRI.FP (Viridien) -- FY adjusted EBITDA $455M vs FactSet $425.3M [6 est, $399.2-457M]

      • ACX.SM (Acerinox) -- Q4 EPS €0.25 vs FactSet €0.29 [3 est, €0.10-0.45]

      • SCYR.SM (Sacyr Vallehermoso) -- FY net income €113.4M vs FactSet €125.5M [13 est, €98-169.2M]

      • FING.B.SS (Fingerprint Cards) -- FY EPS (SEK0.24) vs year-ago (SEK0.31)

      • PUIG.SM (Puig Brands) -- FY adj net income €551M vs FactSet €559.9M

      • VANTI.FP (Vantiva) -- FY adjusted EBITDA €104M vs FactSet €144.3M [2 est, €143.5-145M]

      • COL.SM (Inmobiliaria Colonial SOCIMI) -- FY recurring net income €192.8M vs FactSet €187.1M

      • MEL.SM (Melia Hotels International) -- Q4 EPS €0.10 vs FactSet €0.14 [1 est]

      • VIS.SM (Viscofan) -- Q4 net income €50.7M vs FactSet €47.8M [4 est, €43.7-53.3M]

      • BUCN.SW (Bucher Industries) -- FY EPS CHF22.15 vs FactSet CHF22.98 [7 est, CHF22.21-24.10]

      • ORY.SM (Oryzon Genomics) -- Q4 EPS (€0.02) vs FactSet (€0.02) [2 est, (€0.04)-(0.01)]

      • ENC.SM (ENCE Energia y Celulosa) -- FY net income €31.6M vs FactSet €30.5M [10 est, €22-43.6M]

      • VZN.SW (VZ Holding) -- FY net income CHF219.1M vs FactSet CHF211.5M [2 est, CHF209.2-213.9M]

      • LSG.NO (Lerøy Seafood Group) -- Q4 EPS NOK1.98 vs FactSet NOK0.73 [9 est, NOK0.62-0.82]

      • NXI.FP (Nexity) -- FY net income (€61M) vs FactSet (€64.6M) [5 est, (€98.7)-(25.6M)]

      • GEST.SM (Gestamp Automoción) -- FY net income €188M vs FactSet €201.3M [11 est, €176.6-245M]

      • DOV.IM (doValue) -- preliminary FY net income €6.7M ex-items vs FactSet €15.5M [4 est, €11.8-18M]

      • AUSS.NO (Austevoll Seafood) -- Q4 adjusted EPS NOK3.30 vs FactSet NOK1.66 [7 est, NOK1.31-2.00]

      • SMCP.FP (SMCP) -- FY net income (€24M) vs FactSet (€13.9M) [5 est, (€36)-(0.9M)]

      • ELPE.GA (HELLENiQ ENERGY Holdings) -- Q4 adjusted net income €117M vs FactSet €44.9M

      • JUVE.IM (Juventus Football Club) -- H1 EPS €16.90 vs year-ago (€95.10)

    • M&A

      • ALPHA.GA (Alpha Services & Holdings) -- agrees to acquire Cypriot Astrobank; purchase price estimated at no less than €205M

      • DEC.LN (Diversified Energy Co.) -- completes previously announced acquisition of operated natural gas properties and related facilities from Summit Natural Resources

      • RF.FP (Eurazeo) -- Eurazeo's Real Estate team announces the acquisition of a majority stake in Italian thermal park operator Aquardens

      • BEKB.BB (Bekaert) -- announces sale of its Steel Wire Solutions businesses in Costa Rica, Ecuador, and Venezuela for enterprise value of ~$73M

      • ISB.IR (Íslandsbanki) -- Íslandsbanki's board declines merger discussions with Arion Bank (ARION.IR)

      • Caixa Geral de Depositos considering acquisition of Novo Banco - Bloomberg

    • Healthcare

      • ALK.B.DC (ALK-Abello) -- US FDA approves ALK-Abello's ODACTRA tablet for use in young children with house dust mite allergy

      • 4565.JP (Nxera Pharma) -- receives $10M upfront payment from Viatris as part of rights deal for Cenerimod for autoimmune diseases

    • Other

      • AMS.SM (Amadeus IT Group) -- announces share buyback program for4 up to €1.3B

      • ALV.GR (Allianz) -- resolves on new share buy-back program for up to €2B

      • GALP.PL (Galp Energia SGPS) -- Galp | Galp to start €250M share buyback program of 2025

      • BMPS.IM (Banca Monte dei Paschi di Siena) -- Francesco Gaetano Caltagirone increases stake in Monte dei Paschi to 8% - La Stampa

      • IDR.SM (Indra Sistemas) -- appoints Manuel Escalante as new CTO

      • FTK.GR (flatexDEGIRO) -- announces resignation of Martin Korbmacher as chairman of the supervisory board as of 27-Mar-25

      • UNI.SM (Unicaja Banco) -- board amends dividend policy

      • EU begins four week consultation on Omnibus package; ENI creating CCUS business in ESG intraday news (27-Feb)

  • Key rating changes

    • Upgrades

      • SPM.IM (Saipem) -- to buy from hold at Kepler Cheuvreux

    • Downgrades

      • LXS.GR (Lanxess) -- to hold from buy at Berenberg

      • MUV2.GR (Munich Re) --- to neutral from outperform at Oddo

      • FORTUM.FH (Fortum) -- to equal-weight from overweight at Morgan Stanley

      • WIE.AV (Wienerberger) -- to equal-weight from overweight at Morgan Stanley

      • GEST.SM (Gestamp Automoción) -- to hold from buy at Kepler Cheuvreux

    • Initiations:

      • CER.LN (Cerillion) -- buy at Peel Hunt

      • HAT.LN (H&T Group) -- buy at Panmure Liberum

      • LAGR.B.SS (Lagercrantz Group) -- buy at Berenberg

      • ZEAL.DC (Zealand Pharma) -- market perform at William Blair

  • Data

    • Nikkei (2.88%) to 37155.50

    • Hang Seng (3.14%) to 22974.71

    • Shanghai Composite (1.71%) to 3330.03

    • S&P futures +5.3 vs prior close of 5876.3

    • €-$ (0.0012) or (0.12%) to 1.0389

    • $-¥ +0.24 or +0.16% to 150.05

    • €-¥ +0.09 or +0.06% to 155.87

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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