Leaving BNY Website

 

You are leaving the BNY Mellon's 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

© 2025 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@bny.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.

Regulation S Disclaimer

 

Access To This Company Profile Is Restricted To Non-U.S. Persons Outside The United States Within The Meaning Of Regulation S Under The U.S. Securities Act Of 1933, As Amended (The "Securities Act").1

 

This company profile does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction or under any circumstances in which such offer or solicitation is unlawful.

 

Each person accessing this company profile, by so doing, will be deemed to have acknowledged that: (1) It is not a U.S. person (within the meaning of Regulation S under the Securities Act) and is located outside the U.S. (within the meaning of Regulation S under the Securities Act); and (2) Any securities described herein (A) have not been and will not be registered under the Securities Act or with any securities regulatory authority of any state or other jurisdiction and (B) may not be offered, sold, pledged or otherwise transferred except to persons outside the U.S. in accordance with Regulation S under the Securities Act pursuant to the terms of such securities.

 

If you agree with and accept the foregoing and the Terms of use governing this site, please select "Accept" below. Otherwise, press "Decline" to return to the previous page.

 

1 As defined in the Securities Act, the term "U.S Person" means: (1) any natural person resident in the United States; (2) any partnership or corporation organized or incorporated under the laws of the United States; (3) any estate of which any executor or administrator is a U.S. person; (4) any trust of which any trustee is a U.S. person; (5) any agency or branch of a foreign entity located in the United States; (6) any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. person; (7) any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and (8) any partnership or corporation if: (A) organized or incorporated under the laws of any foreign jurisdiction; and (B) formed by a U.S. person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a)) who are not natural persons, estates or trusts.

I Accept Decline

© 2024 The Bank of New York Mellon Corporation
Depositary Receipt business and services are conducted through The Bank of New York Mellon.

Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.10%) to 8638.01, DAX (0.17%) to 22852.66, CAC40 (0.26%) to 8022.33, STOXX 600 (0.13%) to 548.93

Mar 24 ,2025

  • Synopsis:

    • European equity markets closed mostly lower. Basic resources, technology and banks the best performers; food & beverage, real estate, telecom lag. US equities higher in midday trading. Bond yields mixed. Treasuries weaker across the curve with yields up 6-8 bp; 2Y back above 4% and 10Y above 4.3%. Bund 2 bps firmer. Gilts little changed. Dollar stronger versus yen and kiwi, but softer elsewhere. Oil higher. Gold and industrial metals down.

    • Focus on trade and tariffs; of note, UK said to be considering changes to its digital tax to avoid US tariffs. Also more talk about trade uncertainty as a risk to both Q1 and 2025 consensus earnings estimates. Bloomberg sources noted Trump's reciprocal tariff announcement may be less severe than thought with certain countries exempted.

    • In macro headlines out of the region, attention on PMI data in Europe. Eurozone PMI data for Mar revealed modest economic expansion continuing for third consecutive month, with Composite Index reaching seven-month high of 50.4 versus 50.2 in Feb. Most notably, manufacturing production returned to growth for the first time in two years, posting strongest expansion since May-2022 at 50.7 versus 48.9 in Feb and 48.3 expected. Germany outperformed France with fastest overall growth in ten months, helped by revived manufacturing output on anticipated demand and potential benefits from Germany's new infrastructure and defense initiatives; France remained in contraction territory for a seventh consecutive month. UK composite PMI hit a six-month high of 52.0 versus consensus 50.3 and prior 50.5 amid a rebound in the services sector, which saw the fastest activity since August 2024. Breakdown showed services sector PMI at 53.9 versus 50.9 consensus and prior 51.0, but manufacturing hit an 18-month low of 44.6 versus 46.4 forecast and prior 46.9. S&P Global said the level of the composite PMI consistent with quarterly growth of 0.1%.

    • On the earnings front, INDUS Holding (INH.GR) Patrizia (PAT.GR) and S4 Capital (SFOR.LN) posted their latest earnings, whilst Sanofi (SAN.FP) posted its Q1 Aide Memoire. Iren (IRE.IM), Fincantieri (FCT.IM) and RCS Mediagroup (RCS.IM) also updated investors midday with latest FY results. Further in corporate news flow, Bayer AG (BAYN.GR) has been ordered to pay ~$2.1B in the Roundup weedkiller case, whilst Elliott stated that it shares the market's disappointment with the lack of clarity regarding RWE (RWE.GR) commitment to enhance shareholder returns,

    • In M&A, Tietoevry (TIETO.FH) sold its Tech Services business to funds advised by Agilitas for €300M. Plus500 (PLUS.LN) acquired the entire share capital of Mehta Equities Limited in India for ~$20M, Great Portland Estates (GPE.LN) bought One Chapel Place based on a property valuation of £56.0M while SolGold (SOLG.LN) finalised sale of 157.1M own shares to Jiangxi Copper Company for ~$18M. John Wood Group (WG.LN) extended deadline to 17-Apr for Dubai-based Sidara's new takeover offer. Vivendi (VIV.FP) crosses downwards the 20% threshold of TIM's (TIT.IM) ordinary shares and voting rights.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +1.25%, Technology +1.18%, Banks +0.69%, Travel & Leisure +0.59%, Autos & Parts +0.57%, Financial Svcs +0.55%, Retail +0.51%, Insurance +0.32%, Media +0.23%, Construct & Mtls +0.16%, Ind Goods & Svcs (0.10%)

      • Underperformers:

        • Food & Beverage (1.57%), Real Estate (1.28%), Telecom (1.05%), Health Care (0.95%), Oil & Gas (0.77%), Persnl & HHold Goods (0.67%), Utilities (0.64%), Chemicals (0.59%)

    • Macro:

      • Central Banks:

        • Polish Policymaker Duda Says July Projection Key for Rate Moves (Bloomberg )

        • ECB's Cipollone says case to cut rates has strengthened (Expansion)

        • Some ECB officials question whether than can rely on Fed dollar funding in times of stress (Reuters)

      • UK:

        • UK financial watchdog to encourage retail investors to take more risk (FT)

        • Reeves defends fiscal plan ahead of statement (BBC, Sky News)

        • New poll shows risks for Keir Starmer over spending choices (FT )

      • Germany:

        • Merz and SPD try to narrow differences in German coalition talks (Reuters )

      • France:

        • France gets budget warning as DBRS turns negative on rating (Bloomberg)

      • Trade & tariffs:

        • EU Trade Chief Sefcovic to meet Greer, Lutnick in US on Tuesday (Bloomberg )

        • UK considers tech tax changes to get carve-out from Trump tariffs (Bloomberg)

      • Geopolitics:

        • US holds separate talks with Russians after meeting Ukrainians to discuss a potential ceasefire (AP )

        • Putin speaks to UAE president on Ukraine and OPEC+ (Reuters )

        • Greenland PM decries 'very aggressive' US posture ahead of Usha Vance, Mike Waltz visit (Politico )

    • Peripheral markets:

      • Italy:

        • German defence splurge could revive Italy's manufacturers, says minister (FT )

      • Greece:

        • Greece-Turkey High Cooperation Council on hold due to developments (Kathimerini )

      • Turkey:

        • Turkish protesters rise up against Erdoğan (FT )

        • EU warns Turkey as Erdoğan's repression intensifies (Politico )

    • Company news:

      • Notable Gainers

        • +16.0% PCELL.SS (PowerCell Sweden SEK28.62, +3.98) -- order

        • +10.8% RKH.LN (Rockhopper Exploration £0.42, +0.04) -- Sea Lion operator's update

        • +8.6% UBI.FP (Ubisoft Entertainment €13.20, +1.05) -- promising early sales performance of latest Assassin's Creed (AC) game instalment

        • +6.2% WIHN.SW (WISeKey International Holding CHF8.52, +0.50) -- subsidiary SEALS to acquire 30% Stake in WeCanGroup

        • +6.1% SFOR.LN (S4 Capital £0.35, +0.02) -- FY earnings

        • +5.5% VLA.FP (Valneva €3.57, +0.19) -- supply of IXCHIQ against Chikungunya outbreak in La Reunion

        • +3.0% WAWI.NO (Wallenius Wilhelmsen NOK95.40, +2.80) -- 10-years contract extension worth worth $2B with auto OEM

        • +2.7% METN.SW (Metall Zug CHF1,155.00, +30.00) -- FY earnings

        • +2.5% AEVS.SW (AEVIS VICTORIA CHF12.40, +0.30) -- FY earnings

        • +1.6% RWE.GR (RWE €32.59, +0.50) -- Elliott statement

        • +1.2% IRE.IM (Iren €2.24, +0.03) -- earnings

      • Notable Decliners

        • -10.3% CORE.A.SS (Corem Property Group SEK4.72, -0.54) -- divests five properties in Halmstad for total underlying property value SEK 290M

        • -9.4% OHLA.SM (Obrascon Huarte Lain €0.42, -0.04) -- Obrascon Huarte Lain Board reviews CEO's suitability amid legal issues and files insider trading complaint against a Director - El Confidencial

        • -8.6% DBV.FP (DBV Technologies €0.83, -0.08) -- expects cash and cash equivalents will be sufficient to fund its operations only into April 2025; FDA supportive opinion for Viaskin BLA in 4 - 7-year-olds

        • -5.4% CLARI.FP (Clariane €4.16, -0.24) -- new Chair

        • -3.8% BMS.LN (Braemar £2.50, -0.10) -- trading update

        • -2.9% FCT.IM (Fincantieri €10.78, -0.32) -- earnings

        • -2.5% TIETO.FH (Tietoevry €18.23, -0.46) -- sell Tech Services business for €300M

        • -2.0% TET.LN (Treatt £3.48, -0.07) -- CFO resigns

        • -1.2% ODL.NO (Odfjell Drilling NOK59.60, -0.70) -- CFO steps down

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Baloise (BALN.SW), Vetropack Holding (VETN.SW), Medacta Group (MOVE.SW), SKAN Group (BVHN.SW), MCH Group (MCHN.SW), TAG Immobilien (TEG.GR), Deutsche Wohnen (DWNI.GR), Jenoptik (JEN.GR), Viscom (V6C.GR), Medios (ILM1.GR)

        • France: Groupe Crit (CEN.FP), Exclusive Networks (EXN.FP), HERIGE (ALHGR.FP), ABC arbitrage (ABCA.FP)

        • Nordics: Cadeler (CADLR.NO), Constellation Oil Services Holding (COSH.NO)

        • Southern Europe: Sabaf (SAB.IM), TERNA Rete Elettrica Nazionale (TRN.IM), Cairo Communication (CAI.IM), Equita Group (EQUI.IM)

        • UK: Kingfisher (KGF.LN), Smiths Group (SMIN.LN), Bellway (BWY.LN), Tullow Oil (TLW.LN), A.G. BARR (BAG.LN), Ashtead Technology Holdings (AT.LN), IP Group (IPO.LN), Michelmersh Brick Holdings (MBH.LN), Ultimate Products (ULTP.LN), Xaar (XAR.LN), W.A.G. Payment Solutions (WPS.LN), M.P. Evans Group (MPE.LN), EKF Diagnostics Holdings (EKF.LN), Personal Group Holdings (PGH.LN), Henry Boot (BOOT.LN)

      • Trading Update: HORNBACH Holding (HBH.GR)

      • CMD/events: Shell (SHEL.LN), Kuhne + Nagel International (KNIN.SW), TUI (TUI1.GR), DSM-Firmenich (DSFIR.NA) sustainability, Legrand (LR.FP) Corporate Social Responsibility, Laboratorios Farmaceuticos Rovi (ROVI.SM), Holcim (HOLN.SW) for Amrize spinoff

  • Data:

    • Economics:

      • Mar Flash Manufacturing PMI

        • Eurozone 48.7 vs cons 48.3 and prior 47.6

        • Germany 48.3 vs cons 47.1 and prior 46.5

        • France 48.9 vs cons 46.2 and prior 45.8

        • UK 44.6 vs consensus 46.4 and prior 46.9

      • Mar Flash Services PMI

        • Eurozone 50.4 vs cons 51.2 and prior 50.6

        • Germany 50.2 vs cons 51.6 and prior 51.1

        • France 46.6 vs cons 46.3 and prior 45.3

        • UK 53.2 vs consensus 51.2 and prior 51.0

    • Markets:

      • WTI Crude (May 25): +$0.92 or +1.35% to $69.20

      • €-$ (0.0021) or (0.19%) to 1.0795

      • £-$ +0.0014 or +0.11% to 1.2910

      • €-£ (0.0025) to 0.8362

      • S&P 500 +1.59%

      • Performance year-to-date

        • FTSE 100: +5.69%

        • DAX: +14.78%

        • CAC: +8.69%

        • MIB: +14.00%

        • Stoxx 600: +8.14%

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