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 (0.88%) to 8582.81, DAX (1.33%) to 22163.49, CAC40 (1.58%) to 7790.71, STOXX 600 (1.51%) to 533.92

Mar 31 ,2025

  • Synopsis:

    • European equity markets closed lower but off the session's lowest levels. Basic resources, travel and autos the big decliners on US tariff anxiety. Energy, telecom and utilities outperformed. Follows last week's mostly negative close for major European markets.

    • Markets remain captive to trade headlines ahead of Wednesday's reciprocal tariff announcement. Trump said reciprocal tariffs would apply to all countries, seemingly contradicting press reports suggesting some would receive exemptions. Latest press reports note Trump privately pushing more aggressive approach and recently revived idea of universal tariffs. Trump's hardline approach fueling concerns about downside risks to economic growth. Has resulted in some analysts revising their forecast for Fed rate cut cycle.

    • On macro calendar, German retail sales better-than-expected in February update. Flash HICP for Germany lower than expected, while Italy up over +2% for first time since 2023. UK mortgage appovals slightly lower. UK Lloyds Bank business barometer showed jump in retailer optimism for year ahead. Follows upside surprise in Friday's retail sales data.

    • UK PM Starmer spoke with Trump on tariffs and agreed talks would continue at pace this week. Officials fear they will not have a deal in time to avoid 2-Apr tariff announcement. Elsewhere, France's Le Pen found guilty in case over misuse of EU funds, preventing her from running in 2027 presidential election. Appeals expected.

    • M&A news dominated the headlines in the morning: Fortnox (FNOX.SS) recommended shareholders to accept the SEK 90/share cash offer from EQT X and First Kraft announced on 31-Mar-25 whilst - in Italy - Poste Italiane (PST.IM) acquired Vivendi (VIV.FP) 15% stake in Telecom Italia (TIT.IM) for €684M in cash and - in the banking sector - wires reported that ING Groep (INGA.NA) and Banca Popolare di Sondrio (BPSO.IM) have discussed a potential merger. In Germany, Norges Bank Investment Management acquires 49% equity stake in RWE (RWE.GR) 1.6-gigawatt Nordseecluster and 1.1-gigawatt Thor offshore wind projects for ~€1.4B at closing and Biotest (BIO3.GR) concluded the delisting agreement, with Grifols Biotest Holdings GmbH (GRF.SM) making a public delisting acquisition offer for €43.00/sh in cash. Elsewhere, Wartsila (WRT1V.FH) announced the conclusion of its strategic review, whilst CANCOM (COK.GR), Pennon Group (PNN.LN) and Pets At Home Group (PETS.LN) issued their most recent numbers

    • A few updates regarding management changes across Europe; Volvo Car (VOLCAR.B.SS) CEO Jim Rowan has stepped down, with former CEO Håkan Samuelsson returning to the helm for a two-year interim period starting April 1st. In the seafood industry, Andreas Kvame has agreed with the board of Grieg Seafood (GSF.NO) to step down as CEO after a decade in the role, with Nina Willumsen Grieg appointed as interim CEO. Flex LNG (FLNG.NO) CEO Øystein Kalleklev has resigned to pursue other opportunities, with Marius Foss, the Chief Commercial Officer, appointed as interim CEO. Adding to the wave of executive departures, Paul Marchant has resigned as the Chief Executive of Primark, the unit of Associated British Foods (ABF.LN), with immediate effect. Still in the UK, Reach (RCH.LN) Jim Mullen stepped down as CEO with immediate effect , with Piers North, currently Chief Revenue Officer, being appointed as new CEO.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Oil & Gas +0.06%, Telecom (0.07%), Utilities (0.39%), Real Estate (0.54%), Insurance (0.98%), Food & Beverage (1.04%), Persnl & HHold Goods (1.13%), Retail (1.16%), Chemicals (1.38%)

      • Underperformers:

        • Basic Resources (3.29%), Travel & Leisure (2.88%), Autos & Parts (2.60%), Construct & Mtls (2.59%), Financial Svcs (2.35%), Ind Goods & Svcs (2.06%), Media (2.04%), Technology (2.01%), Banks (1.83%), Health Care (1.55%)

    • Macro:

      • Geopolitics

        • Trump threatens tariffs on Russian oil amid frustration over Ukraine peace talks - Politico, Telegraph

        • Germany's Scholz says EU open to compromise on US tariffs - AFP

        • Meloni calls for calm amid EU-US tariff war and transatlantic tensions - Guardian

        • Von der Leyen says Europe's peace will be strengthened through resilience and innovation - Corriere

      • Finland

        • Working group on population policy submits its proposal for boosting birth rate - press release

      • France:

        • LePen faces trial verdict that could end her presidential ambitions - NYT, Reuters, Politico

      • Norway

        • Government proposed that district heating customers will be treated equally with electricity customers; proposing to introduce both Norway Price and electricity subsidy for households using district heating - press release

      • Germany:

        • Germany's defense spending surge increases borrowing costs and Eurozone debt pressures - FT

      • Greece:

        • Government will present the country's defense modernization plan to Parliament on Wed - ekathimerini

      • UK:

        • UK job vacancies surge in Feb despite economic uncertainty - Reuters

        • UK business confidence holds steady amid retail surge and economic uncertainty - Reuters

        • Starmer and Trump discuss trade deal amid looming tariff threats - Bloomberg

        • UK braces for economic turmoil as Trump's tariffs and domestic challenges mount - London Times, London Times

      • Sweden:

        • Presented its largest military support package to Ukraine to date, valued at almost SEK16B - press release

    • Company news:

      • Notable Gainers

        • +10.5% POXEL.FP (Poxel €0.27, +0.03) -- Imeglimin new patent in Japan for use in type-2 diabetic patients with renal impairment

        • +9.2% CRTA.LN (Cirata £0.20, +0.02) -- FY earnings; $2M contract

        • +8.4% GSF.NO (Grieg Seafood NOK54.25, +4.20) -- CEO and Chair step down

        • +7.7% AML.LN (Aston Martin Lagonda Global Holdings £0.70, +0.05) -- holder Yew Tree Consortium to increase stake to ~33%

        • +5.3% TKA.GR (ThyssenKrupp €9.51, +0.48) -- Kepler Cheuvreux upgrade

        • +4.6% BINV.SS (BioInvent International SEK30.80, +1.35) -- initiated buy at Bryan Garnier

        • +4.3% DIA.LN (Dialight £1.21, +0.05) -- FY trading update

        • +3.4% VIVE.SS (Vivesto SEK0.25, +0.01) -- acquires drug candidate Cantrixil property and trademarks rights for $1M

        • +3.3% HLG.GR (Highlight Communications €1.27, +0.04) -- Estimated weekend box office revenues in US, Canada $75.4M, (45.1%) y/y - Box Office Mojo

        • +2.4% VAR.NO (Vår Energi NOK33.91, +0.78) -- production from the Johan Castberg field commenced on 31-Mar

      • Notable Decliners

        • -28.9% WG.LN (John Wood Group £0.28, -0.12) -- update on independent review and results publication

        • -14.4% S92.GR (SMA Solar Technology €15.15, -2.55) -- Jefferies downgrade

        • -14.1% COK.GR (CANCOM €22.72, -3.72) -- FY earnings

        • -13.8% MAU.FP (Maurel et Prom €4.90, -0.78) -- confirms revocation of Venezuela license by US' OFAC; Portzamparc downgrade

        • -13.2% JLP.LN (Jubilee Metals Group £0.03, -0.01) -- H1 earnings

        • -11.8% UBI.FP (Ubisoft Entertainment €11.19, -1.50) -- resumed reduce at Kepler Cheuvreux

        • -10.9% BVXP.LN (Bioventix £24.50, -3.00) -- H1 earnings

        • -10.4% GENL.LN (Genel Energy £0.64, -0.07) -- Talks to restart Kurdish oil exports through Iraq-Turkey pipeline have hit snag as lack of clarity over payments and contracts persists -- Reuters, citing sources

        • -9.7% YOU.LN (YouGov £2.80, -0.30) -- H1 earnings

        • -9.6% GBT.FP (Guerbet €18.30, -1.95) -- Portzamparc downgrade

        • -7.5% PETS.LN (Pets At Home Group £2.19, -0.18) -- FY25 pre-close statement

        • -7.1% QTX.LN (Quartix Technologies £1.97, -0.15) -- AGM trading statement

        • -5.9% RCH.LN (Reach £0.71, -0.05) -- CEO steps down

        • -5.5% HLUN.B.DC (H. Lundbeck DKK34.70, -2.02) -- reaches 75% recruitment target in SC dose-finding part (Part A) in phase IIb PROCEED trial

        • -5.3% CO.FP (Casino Guichard-Perrachon €0.61, -0.03) -- sells 9 sites for €32M

        • -5.3% WRT1V.FH (Wartsila €16.40, -0.91) -- new financial targets; conclusion of strategic review

        • -5.3% VLA.FP (Valneva €3.10, -0.17) -- submits adolescent label extension application for IXCHIQ to UK MHRA

        • -4.4% HOT.GR (Hochtief €157.20, -7.30) -- Jefferies downgrade

        • -4.4% BMPS.IM (Banca Monte dei Paschi di Siena €7.32, -0.33) --

          • ISS recommends Monte dei Paschi shareholders vote against proposed share issue to fund bid for Mediobanca - Reuters

          • Mediobanca reports top shareholders Delfin and Caltagirone to ECB over concerns they are set to gain control of three big financial institutions without approval - FT

        • -4.2% GRF.SM (Grifols €8.22, -0.36) -- acquisition offer for Biotest AG for €43.00/share in cash

        • -4.1% TUI1.GR (TUI Group €6.31, -0.27) -- re-fleeting of Marella Cruises

        • -3.9% THG.LN (THG Plc £0.32, -0.01) -- holder Frasers Group raises state to ~10.93% from ~6.10% as at 28-Mar - Filing

        • -3.6% GXI.GR (Gerresheimer €70.40, -2.60) -- KeyBanc downgrade

        • -3.4% N91.LN (Ninety One Plc £1.45, -0.05) -- to increase the initial tranche of share buyback program

        • -3.4% GKP.LN (Gulf Keystone Petroleum £1.95, -0.07) -- Talks to restart Kurdish oil exports through Iraq-Turkey pipeline have hit snag as lack of clarity over payments and contracts persists -- Reuters, citing sources

        • -3.2% BPE.IM (BPER Banca €7.22, -0.24) -- ING Groep, Banca Popolare di Sondrio have met about potential merger - Reuters

        • -2.8% VALMT.FH (Valmet €24.95, -0.71) -- plans to renew its operating model; to cut 1,150 jobs

        • -2.6% EQT.SS (EQT AB SEK304.20, -8.00) -- SEK 90/share cash offer for Fortnox

        • -2.5% BAMI.IM (Banco BPM €9.35, -0.24) -- Unicredit's board resolves the share capital increase reserved to the voluntary public exchange offer for Banco BPM

        • -2.3% METSB.FH (Metsa Board €3.45, -0.08) -- new CEO

        • -2.1% ELON.SS (Elon AB SEK22.90, -0.50) -- new CEO

        • -2.0% NOEJ.GR (Norma Group €12.68, -0.26) -- FY earnings

        • -1.8% PNN.LN (Pennon Group £4.45, -0.08) -- FY trading update

        • -1.7% FTK.GR (flatexDEGIRO €21.16, -0.37) -- new Chairman

        • -1.4% IDOX.LN (IDOX £0.57, -0.01) -- trading update

        • -1.4% ABF.LN (Associated British Foods £19.14, -0.27) -- Primark CEO resigns

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Onward Medical (ONWD.BB)

        • UK: Pinewood Technologies Group (PINE.LN), Serica Energy (SQZ.LN), NIOX Group (NIOX.LN)

      • CMD/events: Bayer (BAYN.GR) Pharma media day, PORR (POS.AV)

  • Data:

    • Economics:

      • Denmark Q4 GDP +4.4% y/y vs preliminary +4.1%; +1.8% q/q vs preliminary +1.6%

      • Italy Mar Preliminary CPI +2.0% y/y vs consensus +1.9% and prior +1.6%; +0.4% m/m vs consensus +0.3% and prior +0.2%

      • Germany Feb Retail Sales +4.9% y/y vs consensus +3.2% and prior +2.9%; +0.8% m/m vs consensus 0.0% and prior +0.2%

      • Greece Jan Retail Sales +1.9% y/y vs consensus +3.6% and prior revised (5.3%) from (5.4%)

      • UK

        • Feb M4 Money Supply +0.2% m/m vs consensus +1.1% and prior revised +1.4% from +1.3%

        • Feb Mortgage Approvals 65.48K vs consensus 66.0K and prior revised 66.04K from 66.19K

      • Portugal

        • Mar Preliminary CPI +1.9% y/y vs consensus +2.3% and prior +2.1%

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

    • Markets:

      • WTI Crude (May 25): +$1.75 or +2.52% to $71.11

      • €-$ (0.0023) or (0.21%) to 1.0807

      • £-$ (0.0030) or (0.23%) to 1.2911

      • €-£ +0.0002 to 0.8368

      • S&P 500 (0.59%)

      • Performance year-to-date

        • FTSE 100: +5.02%

        • DAX: +11.36%

        • CAC: +5.55%

        • MIB: +11.37%

        • Stoxx 600: +5.19%

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