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 (4.64%) to 7681.39, DAX (4.12%) to 19790.95, CAC40 (4.78%) to 6927.12, STOXX 600 (4.50%) to 473.99

Apr 07 ,2025

  • Synopsis:

    • European equity markets ended sharply lower but off worst levels of the session. Trade war fears continue to overhang markets. Multiple countries voicing willingness to talk with some offering trade concessions. However, unclear whether it will be enough with Trump again talking about tariffs as structural measure to rebalance trade and provide new source of government funding. More recent wires updates note Trump reportedly considering a 90-day pause in tariffs for all countries except China.

    • Meanwhile, EU Commission President von der Leyen extended olive branch to Washington amidst escalating trade tensions, proposing complete elimination of tariffs on industrial goods between the EU and US (ZDF). Von der Leyen added Europe always ready for good agreement, revealing EU repeatedly offered to abolish mutual tariffs, including in automotive. Conciliatory approach comes as German Economy Minister Habeck suggested potential use of EU's anti-coercion instrument against US measures if negotiations fail (Bloomberg).

    • In political developments in Europe, Politico reported National Rally President Bardella and Vice President Chenu revealed party considering ousting PM Bayrou a week after Le Pen convicted of embezzlement and barred from running for president. Both framed party's decision as a response on Bayrou's failure to act on their party's legislative priorities, such as lower energy prices or adopting a proportional voting system. However, timing of comments came as party officials suggest Le Pen conviction due to her popularity in the polls

    • In macro updates, German industrial production data missed expectations in Feb, down 1.3% vs consensus for 1.1% fall and prior 2.0% gain. Destasis said most of the decline down to decrease in construction industry (-3.2%) and there were also falls in food industry (-5.3%) and energy production (-3.3%). Latest Sentix survey for April showed big drop in Eurozone investor confidence to -19.5 versus consensus -8.9 and prior -2.9, which is the lowest level since October 2023. In the UK, March Halifax house price data eases (0.5%) m/m vs consensus +0.2% and prior revised (0.2%) from (0.1%), though unlikely to have a major influence. KPMG updated its UK growth outlook after last week's US tariff announcement and now sees UK growth of 0.8% this year vs prior 1.7% forecast and anticipates 1.4% growth next year.

    • In corporate news, in the UK, Shell Plc (SHEL.LN) Q1 2025 pre-update revealed Integrated Gas underperformance (910-950k boe/d production, below prior guidance). Ferrexpo (FXPO.LN) released Q1 production report and Kingfisher (KGF.LN) commenced first trance of up to £50M of previously announced £300M share buyback. Sirius Real Estate (SRE.LN) issued a trading update and expects to deliver FY results in line with market expectations. Out of DACHs, Qiagen (QIA.GR) guided Q1 adjusted EPS of at least $0.55 vs FactSet $0.49 with FY Adjusted EPS $2.35 vs prior guidance $2.28. Mercedes-Benz Group (MBG.GR) reported Q1 sales of 529,200 cars and vans, (7%) y/y.

    • In M&As, De La Rue (DLAR.LN) confirmed sale of authentication division for £300M to Crane NXT. CVC DIF (CVC.N) Aagrees to acquire 49% of VNG's BALANCE Erneuerbare Energien for an undisclosed sum. On the speculation front, people with knowledge of the matter say that ProSiebenSat.1 (PSM.GR) has lined up defence advisers amid takeover bid from MFE-MediaForEurope (MFEB.IM). Further in DACHs, Deutz AG (DEZ.GR) to acquire UMS and Rheinmetall (RHM.GR) acquires Hagedorn-NC GmbH. Also, Sartorius (SRT3.GR) to acquire microtissue business MatTek from BICO AB (BICO.SS) for $80M (~€72M).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers

        • Basic Resources (2.48%), Travel & Leisure (2.76%), Banks (3.42%), Food & Beverage (3.76%), Autos & Parts (3.92%), Retail (4.07%), Telecom (4.10%), Ind Goods & Svcs (4.18%), Real Estate(4.45%)

      • Underperformers

        • Utilities (5.91%), Insurance (5.73%), Chemicals (5.41%), Financial Svcs (5.40%), Media (4.96%), Oil & Gas (4.85%), Construct & Mtls (4.73%), Health Care (4.68%), Persnl & HHold Goods (4.60%), Technology (4.51%)

    • Macro/Peripheral markets:

      • ECB

        • ECB's Schnabel warns of rising uncertainty as Trump tariffs threaten Eurozone economy (Reuters)

        • ECB warns trump tariffs risk Eurozone demand shock as rate decision looms (FT)

      • EU

        • EU response to Trump tariffs could amount to €400bn (RTE)

        • President Trump's tariff measures could slow euro area economic growth by between 0.5-1.0 percentage points says Greek central bank's Stournaras (FT)

        • Read-out of the Dialogue on Steel and Metals (release)

        • Remarks by Commissioner Šefčovič at the Foreign Affairs Council (Trade) press conference (release )

      • Geopolitics

        • Trump to listen to trading partners for great deals, aide Hassett says (Reuters)

      • UK

        • UK house prices up by 2.8% in Mar (Bloomberg)

        • UK's Starmer unveils emergency economic measures to counter Trump tariffs (Bloomberg)

        • UK plans sweeping quango cuts and agency mergers to slash public spending (Bloomberg)

        • UK eases EV mandate with hybrid extensions and lower fines to counter Trump tariffs (FT)

        • Tax hikes and Brexit slash foreign buyer demand for UK homes, with prime London hit hard (Bloomberg)

      • France:

        • LePen vows political fight against undemocratic ban as left warns of rule-of-law threat (Guardian)

      • Germany:

        • German industrial output down by 1.3% in Feb (DeStatis)

        • Germany public sector secures 5.8% staggered wage hike after arbitration resolves union-employer deadlock (Bloomberg)

        • Merz ally confident in pre-Easter coalition deal despite tax and migration hurdles (Bloomberg)

    • Company news:

      • Notable Gainers

        • +16.4% VLX.LN (Volex £2.32, +0.33) -- FY trading update

        • +2.8% GAM.SW (Gam Holding CHF0.09, -0.00) -- new Cat Bond and ILS investment partnership with Swiss Re

        • +2.0% LEMON.FH (Lemonsoft €5.12, +0.10) -- to initiate change negotiations

        • +1.7% MBG.GR (Mercedes-Benz Group €49.80, +0.86) -- Q1 sales of

      • Notable Decliners

        • Tariff impact

          • -11.4% HCM.LN (Hutchmed £1.98, -0.26)

          • -11.0% INLOT.GA (Intralot €0.83, -0.10)

          • -7.9% ATO.FP (ATOS SE €0.00, -0.00)

          • -7.4% PGHN.SW (Partners Group Holding CHF994.40, -79.10)

          • -6.0% DLG.IM (De'Longhi €25.12, -1.60) -- Mediobanca downgrade

          • -5.9% DWS.GR (DWS Group €38.90, -2.46)

          • -5.5% SAF.FP (Safran €205.90, -12.00)

          • -5.4% MRO.LN (Melrose Industries £4.02, -0.23)

          • -5.2% KCO.GR (Kloeckner & Co. €6.35, -0.35)-- Warburg Research downgrade

          • -5.0% AMUN.FP (Amundi €59.25, -3.10)

          • -4.9% QBY.GR (q.beyond €0.70, -0.04)

          • -4.6% BAKK.LN (Bakkavor Group £1.77, -0.09)

          • -4.5% TNXT.IM (Tinexta €7.92, -0.38)

          • -4.5% ALO.FP (Alstom €17.50, -0.83)

          • -4.4% CLN.SW (Clariant CHF7.96, -0.36)

          • -4.0% ASC.LN (Asos £2.54, -0.11)

          • -3.7% SAB.SM (Banco de Sabadell €2.22, -0.09)

          • -3.5% STERV.FH (Stora Enso €7.87, -0.28) Barclays downgrade

          • -3.5% IPH.FP (Innate Pharma €1.66, -0.06) -- tariff impact

          • -3.5% SRT3.GR (Sartorius €181.30, -6.65) -- tariff impact

          • -2.9% ADS.GR (Adidas €190.15, -5.75) -- tariff impact

          • -2.7% BMPS.IM (Banca Monte dei Paschi di Siena €6.08, -0.17) -- Barclays downgrade

          • -2.5% ATE.FP (Alten €80.20, -2.05)

            • BAER.SW (Julius Baer Group CHF49.99, -1.23); SIE.GR (Siemens AG €181.88, -3.96); SKF.B.SS (SKF SEK170.65, -3.65)-- BofA downgrade; FCT.IM (Fincantieri €9.30, -0.19) ; TKA.GR (ThyssenKrupp €8.21, -0.13); ECEL.LN (Eurocell £1.45, -0.02); SALM.NO (Salmar NOK469.80, -6.00) -- Barclays downgrade; BAMI.IM (Banco BPM €8.21, -0.08); MRN.FP (Mersen €17.84, -0.16); AF.FP (Air France-KLM €7.51, -0.07); KGX.GR (Kion Group €31.22, -0.19)

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: DEAG Deutsche Entertainment (LOU.GR), Frequentis (FQT.AV)

        • France: Fleury Michon (ALFLE.FP)

        • Nordics: Industrivarden (INDU.A.SS)

        • Southern Europe: Fourlis Holdings (FOYRK.GA)

        • UK: JTC (JTC.LN), Staffline Group (STAF.LN), Hilton Food Group (HFG.LN)

  • Data:

    • Economics:

      • Germany

        • Feb Trade Balance €17.7B vs consensus €18.4B and prior €16.0B

        • Feb Industrial Production (1.3%) m/m vs consensus (1.1%) and prior +2.0%

      • Norway Feb Manufacturing Production +1.4% m/m vs consensus +0.9% and prior revised (1.6%) from (1.5%)

      • UK Mar Halifax House Price Index +2.8% y/y vs prior revised +2.8% from +2.9%

      • Eurozone

        • Apr Sentix Investor Confidence (19.5) vs consensus (8.9) and prior (2.9)

        • Feb Retail Sales +2.3% y/y vs consensus +1.8% and prior revised +1.8% from +1.5%

    • Markets:

      • WTI Crude (May 25): ($1.50) or (2.42%) to $60.49

      • €-$ +0.0030 or +0.27% to 1.0915

      • £-$ (0.0097) or (0.76%) to 1.2737

      • €-£ +0.0075 to 0.8557

      • S&P 500 (1.45%)

        • Performance year-to-date

        • FTSE 100: (6.02%)

        • DAX: (0.60%)

        • CAC: (6.15%)

        • MIB: (3.93%) Stoxx 600: (6.63%)

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