Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (1.62%), DAX (2.32%), CAC40 (1.66%)

Apr 03 ,2025

  • Synopsis

    • European equity markets are set to open sharply lower following President Trump's 'Liberation Day' tariff announcement. Asian equities under pressure Thursday. Japan underperforming region. Hang Seng leading China markets lower. Vietnam leading SE Asian market declines. Australia and Korea pared losses. US contracts sharply lower afterhours. Bonds rallying with Treasury, JGB and Australian yields seeing large declines. Dollar extending losses against majors, stronger on Asia and EM crosses. Crude and base metals selling off alongside equities. Gold flat. Bitcoin selling off.

    • On today's agenda, first EU-Central Asia summit, with EU's von der Leyen and Costa meeting with heads of State from Uzbekistan, Kazakhstan, others. EU's Dombrovskis participates in the EU-Türkiye High-Level Economic Dialogue in Brussels whilst EU's Šuica delivers a speech at the Parliamentary Assembly of the Union for the Mediterranean and EU's Serafin is in Helsinki (through Fri) and meets with Finland's PM Orpo. NATO foreign ministers' meeting (through Fri). In other events, SUERF event at 10:30CET, Is Europe Prepared for Extreme Events? Risks - resilience - policy responses and Montel's German Energy Day 2025. Also in Germany, Chancellor Scholz hosts King Abdullah II of Jordan, press statements are planned afterward. Later, the Chancellor travels to Madrid for bilateral talks over dinner with Spanish PM Sánchez.

    • In central banks, ECB's de Guindos speech at 9:20CET at event organised by International Federation of Accountants Forum. Riksbank's Thedéen panellist at 11:45CET at conf on how capital markets in the EU can be developed to meet investment needs and help strengthen Europe's competitiveness, co-hosted by Confederation of Swedish Enterprise. ECB's Schnabel lecture at 12noonCET at OECD's "The Lectures of the Governor" Seminar. SNB's Tschudin speaks at 10:30CET at Finanz 25. Latvia central bank's Kazāks meets with country's President Rinkēvičs. Minutes of ECB's last MPC meeting published.

    • Macroeconomic data due today include: Italy, Spain, Sweden Mar services PMI and final reads for Eurozone, France, Germany, UK, Switzerland Mar CPI, Eurozone Feb PPI

    • In corporate news, Aperam (APAM.NA) maintains Q1 guidance as per 7-Feb update and sees Q1 adj EBITDA lower than Q4. Montana Aerospace (AERO.SW) released final FY numbers. AEVIS VICTORIA (AEVS.SW) is also out with FY earings. GRENKE (GLJ.GR) reports Q1 leasing new business €740.6M vs year-ago €669.8M and agrees sale of the factoring business. Further on M&A front, Siemens (SIE.GR) confirmed acquisition of Dotmatics for $5.1B.

    • CMD/events: Deutsche Post (DHL.GR), KBC Group (KBC.BB)

  • Politics/Macro/World News

    • EU Vows to Respond With Countermeasures to Trump's 20% Tariffs - Bloomberg

    • UK Business Closures Spike Before Rises in Tax and Minimum Wage - Bloomberg

    • US to set tariffs in three separate bands of 10%, 15%, and 20%, to differ by country and industry - Sky News

    • EU and Nato ministers meet to redraw European security map - FT

    • Trump piles on the tariffs but UK escapes the worst - The Times

  • Top company news

    • Earnings/updates

      • PROX.BB (Proximus) -- sells to Nextensa its two office towers and the development of its new headquarters for €62.5M

      • NANO.FP (Nanobiotix) -- reports FY net income (€68.1M) vs FactSet (€47.6M) [8 est, (€54.3)-(35.7M)]

      • CYAD.BB (Celyad Oncology) -- reports FY net income (€5.8M) vs year-ago (€8.5M)

      • APAM.NA (Aperam) -- maintains Q1 guidance as per 7-Feb update; sees Q1 adj EBITDA lower than Q4

      • AEVS.SW (AEVIS VICTORIA)-- reports FY EPS (CHF0.03) vs year-ago (CHF0.46)

      • GLJ.GR (GRENKE) -- reports Q1 leasing new business €740.6M vs year-ago €669.8M; agrees sale of the factoring business

      • AERO.SW (Montana Aerospace) -- reports final FY earnings: FY net income attributable €36.1M vs FactSet €24.2M [5 est, (€0.0)-49M]

    • M&A

      • SIE.GR (Siemens AG) -- Siemens confirms acquisition of Dotmatics for $5.1B

      • SAF.FP (Safran) -- EU set to greenlight Safran's $1.8B Collins deal -- Reuters

      • OR.FP (L'Oreal) -- SalonCentric Canada, a subsidiary of L'Oréal Canada, signs agreement to purchase all assets of CONCEPT JP; price not disclosed

      • HOLN.SW (Holcim) -- acquires Peruvian producer of specialty building solutions Compañía Minera Luren

      • DSFIR.NA (DSM-Firmenich) -- DSM-Firmenich's animal nutrition and health unit reportedly sees interest from private equity bidders -- Bloomberg

      • DSFIR.NA (DSM-Firmenich) -- increases its stake in Andre Pectin to 90.5%; financial details not disclosed

      • PSM.GR (ProSiebenSat.1 Media) -- MFE-MEDIAFOREUROPE to offer ProSieben shareholders for each ProSieben share tendered into the voluntary public takeover offer (once made) mixed consideration consisting of €4.47 in cash and 0.4 newly-issued MFE A shares.

      • PROX.BB (Proximus) -- sells to Nextensa its two office towers and the development of its new headquarters for €62.5M

      • MTRS.SS (Munters Group) -- Munters business area FoodTech takes full ownership of MTech Systems; follows completion of previously announced transaction with minority shareholders

    • Healthcare

      • NOVN.SW (Novartis) -- receives FDA accelerated approval for Atrasentan for proteinuria reduction in primary IgAN

      • SAN.FP (Sanofi) -- issues press release on FDA's grant of orphan drug designation for rilzabrutinib for wAIHA, IgG4-RD

      • SRPT (Sarepta Therapeutics) -- Roche says EMA has requested temporary hold on studies of Elevidys -- letter (timing uncertain)

      • ROG.SW (Roche Holding) -- Genentech's Phase III Ocrevus high dose study in people with relapsing multiple sclerosis did not meet its primary endpoint

      • LONN.SW (Lonza Group) -- requests trading halt, effective immediately; news pending

      • SOBI.SS (Swedish Orphan Biovitrum) -- NICE recommends efanesoctocog alfa (Altuvoct) for treating and preventing bleeding episodes in haemophilia A

      • CRNA.NO (Circio Holding) -- Circio Holding, Entos Pharmaceuticals initiate collaboration to test novel platform for circVec circular RNA delivery

    • Other

      • NOKIA.FH (Nokia) -- Nokia's share buyback program initiated in November 2024 has been completed

      • BP.LN (BP) -- to announce today that production has started on new gasfield in Trinidad, as it seeks to calm investor nerves by boosting oil and gas production - FT

      • RR.LN (Rolls-Royce Holdings) -- Rolls-Royce in talks with UK government over subsidies to help fund £3B development of engine to power narrow-body aircraft - FT

      • ROCK.B.DC (Rockwool) -- announces 1-for-10 share split

      • AKRBP.NO (Aker BP) -- extends its alliance agreement with SLB and Stimwell Services for another five years to further accelerate and boost oil production

      • FRAS.LN (Frasers Group) -- announces further strategic investment in Hugo Boss AG

      • IMPN.SW Hochtief, Implenia JV wins contract worth somewhere in the high hundreds of millions of euros

  • Key rating changes

    • Upgrades

      • AWE.LN (Alphawave IP Group) -- to buy from hold at Jefferies

    • Downgrades

      • LEG.GR (LEG Immobilien) -- to equal weight from overweight at Barclays

      • BNP Paribas Exane downgrades HAG.GR, R3NK.GR

    • Initiations

      • GUBRA.DC (Gubra A/S) -- buy at DnB Markets

  • Data

    • Nikkei (3.32%) to 34540.09

    • Hang Seng (2.13%) to 22707.32

    • Shanghai Composite (0.55%) to 3331.57

    • S&P futures (170.5) vs prior close of 5712.3

    • €-$ +0.0094 or +0.87% to 1.0949

    • $-¥ (2.17) or (1.45%) to 147.11

    • €-¥ (1.00) or (0.62%) to 161.04

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