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 - EU Market Recap: FTSE 100 (1.27%) to 8759.00, DAX (3.54%) to 22326.81, CAC40 (1.85%) to 8047.92, STOXX 600 (2.14%) to 551.07

Mar 04 ,2025

  • Synopsis:

    • European equity markets ended sharply lower with pan-European indices off worst levels. Germany (3.4%), Norway (2.8%) and Spain (2.6%) led underperformers. Finland +0.7% and Denmark +0.2% were the positive outliers.

    • Trump's latest tariff announcements driving latest selling markets. Tech sell-off compounding risk aversion with NVDA-led selloff in US. Trade uncertainty blamed for recent pickup in concerns about slowing growth and surge in inflation expectations, while tariffs on Canada and Mexico heightening anxiety about economic impact of supply chain disruptions, and tit-for-tat escalation. Trump said 25% tariffs on Canada and Mexico to proceed on Tuesday. Trump also signed order doubling China tariff to 20%. Canada and Mexico have already flagged response. China announced retaliatory tariffs on US agriculture, food imports

    • Ukraine also in the headlines with Trump suspending all military aid to Ukraine to until he sees a commitment to peace. Meanwhile, press reports Europe considering plans to link more than €200B of frozen Russian assets to ceasefire. Ukraine, Poland and Baltic states back the idea but Berlin, Paris and Brussels have previously pushed back but Europe's biggest countries are coming round to the plan. European Commission President von der Leyen announced plans to increase defense spending, which she said could mobilize close to €800B.

    • From a macro calendar perspective, Eurozone unemployment rate unchanged at 6.2%, but was revised lower in prior update. Update from BRC showed unexpected fall in UK shop prices due to discounting by fashion retailers. UK financial ombudsman reported big jump in car motor finance complaints ahead of next month's court case.

    • In corporate news, Thales (HO.FP) reported FY adj EPS €9.24 vs consensus €8.47, hikes divi by ~8.8% and provides FY25 guidance. In the DACH region, Continental (CON.GR) posted FY net income €1.17B vs FactSet €1.28B. Bilfinger (GBF.GR) saw FY net income €179.5M vs FactSet €165.6M with a proposed dividend of €2.40/sh. Fielmann Group (FIE.GR) was out with preliminary figures and hiked divi by 15%. Chocoladefabriken Lindt & Sprungli (LISN.SW) and VAT Group (VACN.SW) also released FY results. In the UK, Ashtead Group (AHT.LN) reported Q3 EPS $c77.2 vs consensus $c76.6 and expects FY results in line with previous expectations. abrdn (ABDN.LN) shares traded firmly higher on back of FY24 earnings beat, better-than-expected FY26 targets, refreshed strategy, name change. Greggs (GRG.LN) FY underlying EPS 137.5p vs FactSet 134.4p and LFL sales in company-managed shops increased by 1.7% y/y in first nine weeks of 2025. Intertek Group (ITRK.LN) reported FY EPS 240.6p ex-items vs consensus 238.0p, announced share buyback and raised medium term margin target. Beazley (BEZ.LN) reports FY EPS $1.33 vs FactSet $1.53; to initiate $500M share buyback. In other developments, John Wood Group (WG.LN) taps advisers to help manage parallel debt refinancing discussions and takeover talks with Sidara, FT reported. On M&A front, CriteriaCaixa (CABK.SM) to acquire 5% stake in Veolia (VIE.FP).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers

        • Food & Beverage +1.17%, Utilities +0.06%, Real Estate(0.22%), Health Care (0.41%), Insurance (1.18%), Persnl & HHold Goods (1.24%), Telecom (1.42%), Chemicals (1.51%), Media (2.14%)

      • Underperformers

        • Autos & Parts (5.41%), Oil & Gas (4.17%), Banks (3.80%), Travel & Leisure (3.80%), Technology (3.75%), Financial Svcs (3.69%), Ind Goods & Svcs (3.05%), Basic Resources (2.68%), Construct & Mtls (2.67%), Retail (2.42%)

    • Macro/Peripheral markets:

      • Geopolitics

        • US suspends military aid to Ukraine, demands apology and peace negotiations - FT

        • EU Unveils €800B "ReArm Europe" plan amid US security pullback - Bloomberg

        • EU proposes new defense funding mechanism amid geopolitical shift - FT

      • UK

        • UK retailers warn of price hikes as employment costs set to rise in April - Reuters

        • UK rental inflation hits three-year low as market shows signs of cooling - FT

      • Germany

        • Germany reaffirms commitment to energy independence from Russia - Reuters

        • Bundesbank proposes debt brake reform for sound public finances and increased investment - release

        • German military analysts raise security concerns over China-made wind turbines - Euractiv

      • Portugal

        • Portuguese opposition keeps censure motion on table amid PM's conflict of interest allegations - Bloomberg

      • Greece

    • Company news:

      • Notable Gainers

        • +8.6% JSG.LN (Johnson Service Group £1.43, +0.11) -- FY earnings; considering move to main market

        • +7.8% KLR.LN (Keller Group £13.88, +1.00) -- FY earnings

        • +7.3% ABDN.LN (abrdn Plc £1.74, +0.12) -- FY earnings; announces new targets for FY26; changes name to aberdeen group plc

        • +7.1% LISN.SW (Chocoladefabriken Lindt & Spruengli CHF118,200.00, +7,800.00) -- FY earnings

        • +6.7% FIE.GR (Fielmann Group €44.35, +2.80) -- prelim FY earnings

        • +4.6% ITRK.LN (Intertek Group £53.90, +2.35) -- FY earnings; announces share buyback; raises medium term margin target

        • +3.9% SDSD.NO (S.D. Standard ETC NOK1.77, +0.07) -- places ~49.8M shares in Dolphin Drilling at NOK1.10/each

        • +3.3% KGH.LN (Knights Group Holdings £1.41, +0.05) -- Stifel upgrade

        • +2.7% FRES.LN (Fresnillo £7.75, +0.21) -- FY earnings

        • +1.9% SRG.IM (Snam €4.69, +0.09) -- completes the acquisition of Edison Stoccaggio

        • +1.9% SXS.LN (Spectris £26.88, +0.50) -- HSBC upgrade

        • +1.6% HO.FP (Thales €225.50, +3.60) -- FY earnings

        • +1.3% SEPL.LN (SEPLAT Energy £1.95, +0.02) -- FY earnings

      • Notable Decliners

        • -64.2% SAVE.LN (Savannah Energy £0.10, -0.17) -- completes fundraising; share trading suspension lifted

        • -44.7% TIG.LN (Team Internet Group £0.55, -0.44) -- Verdane confirms that it does not intend to make an offer for company

        • -14.3% FORN.SW (Forbo Holding CHF786.00, -131.00) -- FY earnings

        • -13.7% MAIRE.IM (MAIRE €8.59, -1.36) -- Azzurra Capital acquires an 8% stake in Nextchem for a total consideration of ~€110M

        • -13.7% ARBN.SW (Arbonia CHF10.86, -1.72) -- FY earnings

        • -12.9% IDEX.NO (IDEX Biometrics NOK0.08, -0.01) -- order

        • -12.5% EVT.GR (Evotec €7.13, -1.02) -- key progress in collaboration with Bristol Myers Squibb

        • -12.2% CON.GR (Continental €60.98, -8.46) -- FY earnings

        • -12.0% FRVIA.FP (Forvia €7.45, -1.02) -- Bernstein downgrade

        • -10.8% STLAM.IM (Stellantis €11.00, -1.33) -- Italy and France Feb new passenger car registrations

        • -10.2% OCDO.LN (Ocado Group £2.28, -0.26) -- latest UK grocery share figures

        • -9.7% SFR.LN (Severfield £0.23, -0.03) -- Peel Hunt downgrade

        • -9.1% FME.GR (Fresenius Medical Care €43.13, -4.34) -- Fresenius completes the sale of part of its stake in company

        • -8.9% GRG.LN (Greggs £18.95, -1.85) -- FY earnings

        • -8.5% AHT.LN (Ashtead Group £43.88, -4.09) -- Q3 earnings

        • -7.7% ENSU.NO (Ensurge Micropower NOK1.17, -0.10) -- Mirabella Financial Services LLP now holds 10.48% from prior 5.14% stake in company

        • -6.7% XPP.LN (XP Power £9.59, -0.69) -- FY earnings; announces equity fundraise to raise gross proceeds of up to £42M

        • -6.4% WIZZ.LN (Wizz Air Holdings £14.72, -1.01) -- Feb traffic figures

        • -6.1% BMW.GR (Bayerische Motoren Werke €79.78, -5.14) -- Mercedes-Benz, BMW making fresh attempt to sell jointly-owned FreeNow - Bloomberg; Italy and France Feb new passenger car registrations

        • -6.1% BP.LN (BP £4.07, -0.26) -- BP to hire two additional directors to help with shift back to oil and gas - FT

        • -5.5% MBG.GR (Mercedes-Benz Group €57.45, -3.32) -- Mercedes-Benz, BMW making fresh attempt to sell jointly-owned FreeNow - Bloomberg; Italy and France Feb new passenger car registrations

        • -5.4% EBS.AV (Erste Group Bank €62.16, -3.56) -- UBS downgrade

        • -5.2% KNIN.SW (Kuehne & Nagel CHF203.50, -11.10) -- FY earnings

        • -5.0% OKEA.NO (Okea NOK16.86, -0.89) -- confirms discovery in the PL1119 Mistral exploration well 6406/6-7S located in the southern Norwegian sea

        • -4.2% HEXA.B.SS (Hexagon SEK117.60, -5.10) -- prepares for the spin-off of its Asset Lifecycle Intelligence division and related businesses

        • -3.6% IDIA.SW (Idorsia CHF1.19, -0.05) -- FY earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: Palfinger (PAL.AV)

        • Benelux: IMCD (IMCD.NA), Envipco Holding (ENVI.NA), MotorK (MTRK.NA), Compagnie du Bois Sauvage (COMB.BB)

        • France: Atos (ATO.FP), Dassault Aviation (AM.FP), Manitou BF (MTU.FP), SCOR (SCR.FP), Ekinops (EKI.FP), Neurones (NRO.FP), GL Events (GLO.FP), Bonduelle (BON.FP)

        • Germany: Bayer (BAYN.GR), Evonik Industries (EVK.GR), adidas (ADS.GR), Schaeffler (SHA0.GR), Global Fashion Group (GFG.GR), bet-at-home.com (ACX.GR), q.beyond (QBY.GR)

        • Nordics: Rapala VMC (RAP1V.FH), Suominen (SUY1V.FH), Everfuel (EFUEL.NO), Bavarian Nordic (BAVA.DC), NTG Nordic Transport Group (NTG.DC), Svitzer Group (SVITZR.DC), Idun Industrier (IDUN.B.SS)

        • Southern Europe: Geox (GEO.IM), Ariston Holding (ARIS.IM)

        • Switzerland: Sandoz Group (SDZ.SW), ORIOR (ORON.SW),

        • UK/Ireland: Ibstock (IBST.LN), SIG (SHI.LN), Nichols (NICL.LN), Dowlais Group (DWL.LN), Breedon Group (BREE.LN), Quilter (QLT.LN), Foxtons Group (FOXT.LN), Ricardo (RCDO.LN), Netcall (NET.LN), Galliford Try Holdings (GFRD.LN), AIB Group (A5G.ID)

  • Data:

    • Economics:

      • Spain Feb Unemployment Change (6.0K) vs consensus +45.2K and prior +38.7K

      • Greece Jan Unemployment Rate 8.7% vs consensus 9.4% and prior revised 9.3% from 9.4%

      • Eurozone Jan Unemployment Rate 6.2% vs consensus 6.3% and prior revised 6.2% from 6.3%

      • Italy Jan Unemployment Rate 6.3% vs consensus 6.2% and prior revised 6.4% from 6.2%

    • Markets:

      • WTI Crude (Apr 25): ($0.96) or (1.40%) to $67.41

      • €-$ +0.0041 or +0.39% to 1.0529

      • £-$ +0.0012 or +0.09% to 1.2713

      • €-£ +0.0025 to 0.8283

      • S&P 500 (1.69%)

        • Performance year-to-date

        • FTSE 100: +7.17%

        • DAX: +12.14%

        • CAC: +9.04%

        • MIB: +10.36%

        • Stoxx 600: +8.56%

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