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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.03%), DAX30 (0.53%), CAC40 (0.14%)

Mar 21 ,2025

  • Synopsis

    • Europe eying a flat open for now. Heathrow airport is closed all day after nearby fire causes power outage.

    • Asian equities are rading mixed Friday. Gains in Japan with the Topix again outperforming the Nikkei. South Korea and Australia a few points higher, India higher for a fourth consecutive day. On the downside, Hong Kong losses gathering speed, mainland China also lower while Taiwan stocks are down.

    • US equities finished lower in Thursday trading, with some morning strength evaporating by midday and remaining slightly weaker through the afternoon. Big tech was mostly lower. S&P futures (7.0) to 5,705.8, (0.12%) vs settlement

    • Friday sees, in central banks, Bank of Spain's Escriva speech at 9:15CET at IESE banking event. Bank of Austria's Holzmann speaks at 9:45CET at event organised by OMFIF. Russia central bank interest rate decision and press conf. by the Governor with the benchmark interest rate expected to be left unchanged at 21%

    • Economic due today: France Mar business confidence, UK Mar consumer confidence - GfK, Feb public sector borrowing requirement, Eurozone Mar flash consumer confidence, Ireland Feb PPI

    • In M&A: Alfa Laval (ALFA.SS) signs agreement to acquire cryogenics business from Fives Group for €800M on a cash and debt-free basis

    • Earning reports: (SZG.GR) Salzgitter reports FY EPS (€6.51) vs FactSet (€5.63) [8 est, (€7.05)-(4.22)] (CFT.SW) Cie Financiere Tradition reports FY EPS CHF15.09 vs year-ago CHF12.71, raises dividend +12.5% y/y. FUCHS SE (FPE3.GR) reports FY EPS €2.29 vs FactSet €2.33 [11 est, €2.24-2.39]; expects to generate 2025 EBIT of around €460M vs FactSet €474.56M

  • Politics/Macro/World News

    • Airlines Divert Flights as Power Outage Shuts Heathrow (BBG )

    • German upper house of parliament expected to clear huge spending package (Reuters )

    • Bailey Urges BOE Caution as Trump Tariffs Ramp Up Uncertainty (BBG )

    • Dollar slump magnifies stock market pain for foreign investors (FT )

  • Top company news

    • Earnings/updates

      • GNFT.FP (GENFIT) -- announces completion of royalty financing agreement with HCRx and results of repurchase offer to 2025 OCEANEs holders

      • DOU.GR (Douglas) -- AG adjusts 2024/25 forecast to account for weakening customer sentiment and slower market development

      • ROSN.RU (Rosneft Oil) -- reports FY net income RUB1.08B, (14%) vs year-ago RUB1.27B

      • VETO.FP (Vetoquinol) -- reports FY net income €58.7M vs FactSet €61.2M [7 est, €50.7-109.1M]

      • CTT.PL (CTT - Correios de Portugal) -- reports Q4 net income attributable €17.8M vs FactSet €13.7M [2 est, €12-15.3M] (post EU close 20-Mar)

      • BEN.FP (Beneteau) -- reports FY net income €92.9M vs FactSet €90.1M [6 est, €46.9-168.5M]

    • M&A

      • MUV2.GR (Munich Re) -- to acquire Next Insurance for $2.6B (€2.39B)

      • PSM.GR (ProSiebenSat.1 Media) -- ProSiebenSat.1 approves proposed agreement with General Atlantic on acquisition of its minority stakes in NuCom Group and ParshipMeet Group together with intended sale of Verivox

      • NIOX.LN (NIOX Group) -- confirms that on 6-Mar-25, it received a revised proposal from Keensight Capital of 81p per share vs prior 78p/share. NIOX

      • SWON.SW (SoftwareONE Holding) -- SoftwareOne announces Crayon transaction cleared by Federal Cartel Office for Germany; transaction still expected to complete in June 2025

      • EXM.BB (Exmar NV) -- Saverex now holds total of 53.1M shares or 89.24% of the outstanding shares in Exmor NV

      • SCZ.CN (Santacruz Silver Mining) -- announces US$10M initial payment to Glencore under voluntary plan to exercise acceleration option

      • Blue Owl Technology Finance Corp. and Blue Owl Technology Finance Corp. II announce shareholder approvals of merger

      • Australian companies off the pace in bidding for Ravenswood gold mine - The Australian

    • Healthcare

      • NOVN.SW (Novartis) -- receives FDA approval for oral Fabhalta (iptacopan) in treating adults with C3 glomerulopathy

      • BDTX (Black Diamond Therapeutics) -- Insider transaction: Black Diamond Therapeutics holder Biotech Growth N.V. discloses sale of 5.8M shares - Form 4

      • NYXH.BB (Nyxoah) -- files $200M mixed shelf; enters sales agreement for up to $50M of ordinary shares with Cantor Fitzgerald - F-3

      • NANO.FP (Nanobiotix) -- announces presentation of data from two phase 1 studies evaluating JNJ-1900 (NBTXR3) at the European lung cancer conference

      • POXEL.FP (Poxel) -- announces top-line results from preclinical study for PXL065 in hypertrophic cardiomyopathy

      • 532296.IN (Glenmark Pharmaceuticals) -- Glenmark receives ANDA approval for Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% (OTC)

      • BIOG.B.SS (BioGaia) -- discloses Anatom Holding becomes anchor shareholder

    • Other

      • UBSG.SW (UBS Group) -- Follow-up: UBS Group weighing moving headquarters unless Switzerland lowers capital demands - Bloomberg

      • MBG.GR (Mercedes-Benz Group) -- releases sustainability report

      • HSBA.LN (HSBC Holdings) -- intends to issue SG$800.0M 5.000% resettable perpetual subordinated contingent convertible securities

      • BA.LN (BAE Systems) -- named principal contractor for $100M sale to Kingdom of Saudi Arabie

      • SGSN.SW (SGS) -- achieves ISO 45001:2018 ANAB accreditation in North America

      • BOL.SS (Boliden) -- announces intention to carry out directed share issue of ~ SEK 3.75B through BNP PARIBAS, SEB, RBC Capital Markets

      • BOL.SS (Boliden) -- completes directed share issue of ~10.7M shares raising gross proceeds of ~SEK3.75B, through BNP PARIBAS, SEB, RBC Capital Markets

      • COV.FP (Covivio) -- releases sustainability report

      • Curtiss-Wright awarded contracts by Rheinmetall to provide turret drive stabilization systems for Boxer heavy weapon carriers and Lynx IFVs

      • Regional Gaming Revenues - Massachusetts February 2025

  • Key rating changes

    • Upgrades

      • CRST.LN (Crest Nicholson Holdings) -- to outperform from sector perform at RBC Capital Markets

      • MBG.GR (Mercedes-Benz Group) -- to equal weight from underweight at Barclays

      • OR.FP (L'Oreal) -- to outperform from sector perform at RBC Capital Markets

      • SBRY.LN (J Sainsbury) -- to buy from hold at HSBC

      • TEL2.B.SS (Tele2) -- to overweight from neutral at JPMorgan

      • ZEAL.DC (Zealand Pharma) -- to overweight from equal-weight at Morgan Stanley

    • Downgrades

      • SW.FP (Sodexo) -- to hold from buy at Deutsche Bank

      • WG.LN (John Wood Group) -- to hold from buy at Jefferies

      • NESN.SW (Nestle) -- to sector perform from outperform at RBC Capital Markets

      • DB1.GR (Deutsche Börse) -- to hold from buy at HSBC

      • SW.FP (Sodexo) -- to equal-weight from overweight at Morgan Stanley

      • G1A.GR (GEA Group) -- to sector perform from outperform at RBC Capital Markets

      • ROCK.B.DC (Rockwool) -- to equal weight from overweight at Barclays

      • SGL.GR (SGL Carbon) -- to hold from buy at Deutsche Bank

      • YUBICO.SS (Yubico) -- to hold from buy at Carnegie Securities

      • XPP.LN (XP Power) -- to reduce from add at Peel Hunt

    • Other Actions

      • OSB.LN (OSB Group) -- transferred hold at Peel Hunt; prior rating was hold

  • Data

    • Nikkei (0.11%) to 37708.96

    • Hang Seng (2.07%) to 23718.08

    • Shanghai Composite (1.25%) to 3366.41

    • S&P futures (7.5) vs prior close of 5712.8

    • €-$ (0.0016) or (0.15%) to 1.0838

    • $-¥ +0.71 or +0.48% to 149.50

    • €-¥ +0.50 or +0.31% to 161.99

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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