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 +3.04% to 7913.25, DAX +4.53% to 20562.73, CAC40 +3.83% to 7126.02, STOXX 600 +3.70% to 487.28

Apr 10 ,2025

  • Synopsis:

    • European equity markets ended sharply higher after Trump's decision to pause higher reciprocal tariff rates on most countries except China, lifting sentiment in an oversold market. Financials, banks and industrials lead cyclical-driven rally; food sector profit warnings in focus. Follows downbeat close on Wednesday.

    • The tariff pause has seen reduction in central bank rate cut expectations in Europe in line with dialing back in Fed rate cut pricing. While it is unlikely to change the ECB's policy decision next week, the market has reduced the number of cuts to ~70 bps by year-end, which is effectively the removal of at least one cut. Bank of France chief Villeroy welcomed Trump's tariff pause and Spanish PMI said it opens door to bargaining. Meanwhile, EU agrees on 90 day pause in countermeasures against US. Reiterated all options remain on the table.

    • On the macro data front, another relatively lowkey data schedule in Europe. Latest UK RICS housing survey warned market risks being derailed by trade war with buyer demand weakening. Italy Feb Industrial Production (0.9%) m/m vs consensus (1.0%) and prior revised +2.5% from +3.2% while Netherlands Feb Manufacturing Production +1.2% m/m vs consensus (0.2%) and prior revised +0.9% from +1.0%. Mar CPI for Norway and Denmark below consensus while Greece a touch firmer.

    • In corporate news, Volkswagen (VOW3.GR) reported prelim Q1 numbers; Givaudan (GIVN.SW) reported better-than-expected Q1 sales; DocMorris (DOCM.SW) also out with better-than-expected Q1 external revenue and CHF 200M capital increase. Barry Callebaut (BARN.SW) H1 recurring net income and EBIT a miss with group also lowering its annual volume guidance citing unprecedented cocoa bean price volatility. Out of Benelux, Fagron (FAGR.BB) reports Q1 revenue €238.7M vs FactSet €227.7M and reiterates FY guidance. In the UK, Tesco (TSCO.LN) is expected to update investors with latest figures. In the UK, Tesco (TSCO.LN) shares lower on downbeat FY26 guide despite solid results for the year ending Feb-25.

    • Amidst light M&A headlines, ThyssenKrupp (TKA.GR) reportedly is considering exit options for materials trading business. Anglo American (AAL.LN) said it continues to work with Peabody (BTU) towards satisfying remaining customary conditions required to complete sale of steelmaking coal business to Peabody.

    • Looking ahead to tomorrow's EU econ-calendar, notable releases will include, amongst others, Germany Mar final CPI, UK Feb industrial/manufacturing production, trade balance, construction output, Mar monthly GDP tracker - NIESR, Spain Mar final CPI, and Switzerland Mar consumer confidence - SECO.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Financial Svcs +5.37%, Banks +5.15%, Ind Goods & Svcs +4.96%, Technology +4.54%, Construct & Mtls +4.26%, Travel & Leisure +4.24%, Insurance +4.20%, Real Estate +3.94%, Basic Resources +3.79%

      • Underperformers:

        • Food & Beverage +1.30%, Telecom +2.08%, Oil & Gas +2.54%, Health Care +2.59%, Autos & Parts +2.62%, Utilities +2.66%, Chemicals +3.02%, Persnl & HHold Goods +3.22%, Retail +3.48%, Media +3.63%

    • Macro:

      • Central Banks:

        • ECB to cut deposit rate on 17-Apr on downside risks to economy, inflation: Reuters poll -- Reuters

        • ECB warns that fragmented EU bank scene is vulnerable to shocks -- Reuters

      • EU:

        • EU pauses tariff retaliation against US for 90 days -- FT

        • EU delays metal tariffs retaliation as Trump targets China -- Politico

        • EU expects to add record renewable capacity in 2025, industry sees headwinds -- Reuters

      • UK:

        • Trump's tariffs war set to hit UK growth, warns Bank of England -- Politico

        • UK statistics agency plans to replace faulty jobs data in 2026 -- FT

        • Reform UK may overtake Welsh Labour in 2026 Senedd vote, poll suggests -- Guardian

        • Why the King and Queen's visit to Italy is one of the UK's most important power plays -- Sky

      • Germany:

        • Germany's CSU backs coalition deal as economic gloom ups pressure for new government -- Reuters

        • Germany to Maintain Controls at All Internal Borders, New Coalition agreement Says -- Schengen

        • Germany's economy is expected to stagnate at best this year -- Independent

        • German Economics Institutes cut 2025 GDP forecast to +0.1% vs prior estimate +0.8%; leaves 2026 GDP forecast unchanged at +1.3% -- release -- DIW

      • France:

        • Macron accused of giving Hamas 'prize for terrorism' -- Telegraph

      • Italy:

        • Italy steps up calls to pause EU green deal for competitiveness -- Montel

    • Company news:

      • Notable Gainers

        • +76.0% VRCI.LN (Verici Dx £0.02, +0.01) -- receives medicare coverage for Tutivia

        • +14.5% PLEJD.SS (Plejd AB SEK535.00, +68.00) -- Q1 earnings

        • +10.3% GSP.IM (Gas Plus €3.04, +0.28) -- FY earnings

        • +9.1% MER.LN (Mears Group £3.93, +0.33) -- FY earnings; Peel Hunt upgrade

        • +8.8% ANOD.B.SS (Addnode Group SEK93.70, +7.60) -- Kepler Cheuvreux upgrade

        • +8.7% HEALTH.FH (Nightingale Health €2.80, +0.23) -- progress in its laboratory implementation in US is as planned; laboratory to open in Summer 2025

        • +8.3% TIT.IM (Telecom Italia €0.30, +0.02) -- BNP Paribas Exane upgrade

        • +8.3% COTN.SW (COMET Holding CHF208.80, +15.60) -- Q1 sales

        • +7.6% ALMDG.FP (MGI Digital Graphic Technology €13.00, +0.91) -- FY earnings

        • +7.6% HOFI.SS (Hoist Finance SEK72.70, +5.15) -- SEB upgrade

        • +7.6% BAMI.IM (Banco BPM €8.67, +0.61) -- final results of the offer reaching 89.949% of Anima share capital

        • +7.5% FBK.IM (FinecoBank €16.54, +1.14) -- initiated buy at BofA

        • +7.3% RLF.SW (RELIEF THERAPEUTICS Holding CHF2.49, +0.16) -- FY earnings

        • +7.2% AAL.LN (Anglo American £19.02, +1.26) -- continues to work with Peabody (BTU) towards satisfying remaining customary conditions

        • +7.0% SGO.FP (Compagnie de Saint-Gobain €82.70, +5.38) -- Berenberg upgrade

        • +6.5% XFAB.FP (X-FAB Silicon Foundries €3.71, +0.23) -- and IQE sign joint development agreement for GaN Power

        • +6.3% SPEC.LN (Inspecs Group £0.41, +0.03) -- FY earnings; CFO to step down

        • +6.1% JD.LN (JD Sports Fashion £0.72, +0.04) -- commences £100M share buyback

        • +5.7% ORSTED.DC (Ørsted DKK273.10, +14.40) -- initiated buy at Clarksons Secruties; Ørsted implores Europe to do more to support wind energy sector; says new tariffs will have meaningful impact on its US projects - FT, citing CEO

        • +5.3% GLE.FP (Societe Generale €36.63, +1.81) -- completes €872M share buyback program

        • +5.2% ABBN.SW (ABB Limited CHF41.28, +2.04) -- Carnegie Securitie upgrade

        • +5.0% IMP.A.SS (Implantica SEK28.55, +1.35) -- study publication

        • +4.7% DOCM.SW (DocMorris CHF20.50, +0.87) -- Q1 revenue

        • +4.5% AIR.FP (Airbus SE €141.24, +5.98) -- March gross orders

        • +4.4% FAGR.BB (Fagron €19.36, +0.82) -- Q1 revenue

        • +3.9% HBR.LN (Harbour Energy £1.56, +0.06) -- UK government grants development consent for the Viking CCS pipeline

        • +3.5% THULE.SS (Thule Group SEK248.80, +8.20) -- Pareto upgrade

      • Notable Decliners

        • -33.8% TET.LN (Treatt £2.13, -1.09) -- prelim H1 earnings; £5M share buyback program

        • -21.5% BARN.SW (Barry Callebaut CHF848.50, -227.00) -- H1 earnings

        • -9.9% TTG.LN (TT Electronics £0.75, -0.08) -- FY earnings; business update; CEO to step down

        • -8.4% CRNA.NO (Circio Holding NOK0.58, -0.05) -- receives request from Atlas Special Opportunities for the conversion of NOK1.5M (nominal value) of convertible bonds

        • -8.2% EPR.NO (Europris NOK74.30, -6.70) -- Q1 earnings

        • -4.9% TSCO.LN (Tesco plc £3.21, -0.16) -- FY earnings; £1.45B share buyback

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Gerresheimer (GXI.GR), Rosenbauer International (ROS.AV)

        • France: Kaufman & Broad (KOF.FP), Carbios (ALCRB.FP)

        • Nordics: Tryg (TRYG.DC), Carasent (CARA.SS), Atrium Ljungberg (ATRLJ.B.SS)

  • Data:

    • Economics:

      • Mar CPI

        • Denmark +1.5% y/y vs consensus +2.2% and prior +2.0%

        • Norway +2.6% y/y vs consensus +2.9% and prior +3.6%

        • Greece +2.4% y/y vs consensus +2.3% and prior +2.5%

      • Netherlands Feb Manufacturing Production +1.2% m/m vs consensus (0.2%) and prior revised +0.9% from +1.0%

      • Feb Industrial Production

        • Sweden (0.7%) y/y vs consensus (1.0%) and prior (2.1%)

        • Italy (2.7%) y/y vs consensus (1.9%) and prior revised (0.8%) from (0.6%)

        • Greece (0.1%) y/y vs consensus +3.8% and prior revised +2.7% from +2.0%

    • Markets:

      • WTI Crude (25-May): ($2.51) or (4.03%) to $59.84

      • €-$ +0.0278 or +2.54% to 1.1229

      • £-$ +0.0151 or +1.18% to 1.2975

      • €-£ +0.0098 to 0.8637

      • S&P 500 (3.94%)

      • Performance year-to-date:

        • FTSE 100: (3.18%)

        • DAX: +3.28%

        • CAC: (3.45%)

        • MIB: +0.27%

        • Stoxx 600: (4.01%)

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