Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.31%), DAX +0.07%, CAC (1.00%)

Apr 17 ,2025

  • Synopsis

    • European equity markets are set to open mixed to lower amidst Asian equities mostly higher Thursday. Sentiment turning positive with Hang Seng leading China markets despite latest US tech crackdown reports. Japan, Korea and Australia also firmer. Taiwan lagging though off worst levels. S&P 500 futures rebounding afterhours. Bonds mixed with Treasury yields moving higher, but JGB yields lower at the long end. Australian and New Zealand yields remain lower following latest data. Dollar seeing broad gains against other currencies. Crude adding to earlier gains while gold steady and copper pulling lower. Bitcoin seeing mild decline.

    • Focus on ECB rate decision with ECB expected to cut its benchmark interest rate by (25bps) to 2.25% when it announces its outcome at 14:15CET, press conf 14:45. Also in central banks, BOE releases its latest Credit Conditions Survey at 9:30BST. Elsewhere, IMF Director Georgieva delivers speech before the start of the IMF-World Bank Spring meetings. In politics, Portugal general election tv debates on SIC at 21:00CET (Pedro Nuno Santos (PS) x Rui Tavares (Livre)) and on RTP3 at 22:00 (André Ventura (Chega) x Rui Rocha (IL)). In other events, EU Meets the Balkans Forum, speakers include EU's Kos.

    • Macroeconomic updates today include: Germany Apr ZEW survey, France Mar final CPI, UK Feb unemployment rate, Mar claimant count change, retail sales monitor - BRC, Norway Mar trade balance, Eurozone Feb industrial production

    • In corporate news, Siemens Energy (ENR.GR) released yesterday after the close prelim Q2 numbers. Still in the DACH region, ABB Limited (ABBN.SW) reported this morning Q1 earnings and announced to spin off ABB Robotics into separate, listed company. Evotec (EVT.GR) is also out with Q4 figures. In France, bioMerieux (BIM.FP) reported Q1 sales and confirmed FY25 outlook. ATOS (ATO.FP) reported Q1 revenue €2.07B, (17%) y/y and Pernod Ricard (RI.FP) posted Q3 sales and confirmed FY outlook. From the Benelux, Basic-Fit (BFIT.NA) released Q1 update whilst TomTom (TOM2.NA) is due to update investors today.

    • CMD/events: Evotec (EVT.GR) Cell & Gene Meeting

  • Politics/Macro/World News

    • China seeks reset with EU amid Donald Trump's trade war - FT

    • EU centre-right vows to stick to firewall to defeat Europe's 'authoritarian wave' - FT

    • ECB to Cut Rates Again as Tariffs Imperil Growth - Bloomberg

    • Spain and Lithuania push to oust Ireland from leading eurozone talks - Politico

    • US' Rubio will meet French foreign minister on Thursday, source says - Reuters

    • Italy's Meloni heads to US with unlikely mission for Europe - BBC

    • WTO slashes 2025 trade growth forecast, warns of deeper slump - Reuters

  • Top company news

    • Earnings/updates

      • DACHs

        • ABBN.SW (ABB Limited) -- reports Q1 EPS $0.60 vs consensus $0.53, guides Q2, reaffirms 2025 outlook

        • ENR.GR (Siemens Energy) -- reports preliminary Q2 profit before special Items €906M vs year-ago €170M

        • RHM.GR (Rheinmetall) -- expects order volume to grow to up to €300B over next five years - Handelsblatt

        • VACN.SW (VAT Group) -- reports Q1 revenue CHF275.1M vs StreetAccount CHF283.1M

        • EVT.GR (Evotec) -- reports Q4 adj. EBITDA €22.6M vs FactSet €27.2M [1 est]; guides FY25 adj. EBITDA in range of €30 - 50M vs FactSet €77.41M

      • Southern Europe

        • MONC.IM (Moncler) -- reports Q1 revenue €829M vs StreetAccount €816.8M

        • BC.IM (Brunello Cucinelli) -- reports Q1 revenue €341.5M vs StreetAccount €339.6M; confirms expectation of ending 2025 with an increase in turnover of around 10%

        • MFEB.IM (MFE-MEDIAFOREUROPE) -- reports FY results in line with prelim announcement; increase in dividend to €0.27 (+8% vs 2023) will be proposed

      • France

        • BIM.FP (bioMerieux) -- reports Q1 sales €1.10B vs FactSet €1.08B [3 est, €1.05-1.10B]; confirms FY25 sales guidance and closely monitoring evolving tariff situation

        • ADP.FP (Aeroport de Paris) -- reports Mar total Paris Aeroports traffic 8.04M, +0.7% y/y

        • EMEIS.FP (Emeis SA) -- reports FY24 net income (€412M) vs FactSet (€361.2M)

        • COV.FP (Covivio) -- reports Q1 revenue €162.3M, +6% vs year-ago €153.6M

        • POXEL.FP (Poxel) -- provides financial update for Q1 of 2025 and announces the postponement of its 2024 full-year results; company has limited cash runway

        • ICAD.FP (Icade) -- reports H1 revenue €326.0M vs year-ago €322.0M

        • ATO.FP (ATOS SE) -- reports Q1 revenue €2.07B, (17%) vs year-ago €2.48B

        • RI.FP (Pernod Ricard) -- reports Q3 net sales €2.28B vs consensus €2.28B; confirms FY25 outlook but geopolitical environment remains challenging and very fluid with regards to tariffs

        • IPS.FP (Ipsos)-- reports Q1 revenue €568.5M vs FactSet €570.0M [1 est]

        • FRVIA.FP (Forvia) -- reports Q1 revenue €6.70B vs FactSet €6.54B [2 est, €6.54-6.54B]; confirms FY25 guidance

      • Benelux

        • WHA.NA (Wereldhave) -- Q1 trading update: reports direct result per share (DRPS) € 0.44, +7% y/y

        • CMCOM.NA (CM.com) -- reports Q1 normalized EBITDA €3.9M vs year-ago €3.3M

        • NSI.NA (NSI NV) -- Q1 Trading Update: EPRA EPS €0.42 vs year-ago €0.35; reaffirms FY EPRA EPS guidance

        • BFIT.NA (Basic-Fit) -- reports Q1 revenue €332M, +17% vs year-ago €284M; outlook as provided at FY24 Results reiterated

      • Nordics

        • ELISA.FH (Elisa Oyj) -- reports Q1 comparable EPS €0.58 vs FactSet €0.58 [9 est, €0.56-0.60]

    • M&A

      • INPST.NA (InPost) -- acquires Yodel via debt-to-equity conversion

      • SPIE.FP (SPIE) -- to acquire LTEC Group; terms not disclosed

    • Healthcare

      • BAVA.DC (Bavarian Nordic A/S) -- Bavarian Nordic A/S's Chikungunya vaccine receives recommendation from U.S. CDC's advisory committee on Immunization practices (ACIP)

      • ADXN.SW (Addex Therapeutics) -- announces Janssen Pharmaceuticals has returned all development and commercialization rights to ADX71149 (JNJ-40411813) and the partnership between the two companies has been terminated

    • Other

      • ABBN.SW (ABB Limited) -- ABB to spin off ABB Robotics into separate, listed company

      • EQNR.NO (Equinor) -- US halts Equinor's Empire Wind project

      • ML.FP (Cie Generale des Etablissements Michelin SA) -- Michelin publishes global tire market data for Mar

      • ARCAD.NA (ARCADIS) -- announces new design services framework with London Gatwick

  • Key rating changes

    • Upgrades

      • ANTO.LN (Antofagasta) -- to sector perform from underperform at RBC Capital Markets

    • Downgrades

      • BNZL.LN (Bunzl) -- to neutral from overweight at JPMorgan

    • Initiations

      • JET2.LN (Jet2) -- overweight at JPMorgan

  • Data

    • Nikkei +1.10% to 34292.89

    • Hang Seng +1.25% to 21319.79

    • Shanghai Composite (0.04%) to 3274.73

    • S&P futures +46.3 vs prior close of 5305.8

    • €-$ (0.0052) or (0.46%) to 1.1348

    • $-¥ +0.91 or +0.64% to 142.80

    • €-¥ +0.37 or +0.23% to 162.04

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