Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.08%), DAX (0.05%), CAC(0.03%)

Apr 24 ,2025

  • Synopsis

    • European equity markets are set to open in negative territory amidst Asian equities mixed Thursday. Japan outperformance follows yen pullback. Hang Seng leading China market declines with tech under pressure. Semis/tech also weighing on Korean and Taiwan benchmarks. S&P 500 futures touch lower afterhours. Bond curves continue to flatten with long-end Treasury yields extending move lower. Dollar swinging lower following earlier rebound on major crosses. Crude steady. Gold rebounding from Wednesday selloff. Bitcoin little changed near two-month high.

    • On today's agenda, G-20 finance ministers and central bank governors' meeting. Bundesbank releases at 12noon CET its latest Monthly Report. Bundesbank's Nagel, Germany's finance minister Kukies press conf at 14:00CET at IMF spring meeting. Former Bank of Spain's de Cos, ECB's Lane, BOE's Lombardelli and Riksbank's Seim panellists at 14:00BST at event hosted by PIIE. Lithuania central bank's Šimkus speech at 16:05CET. In politics, Portugal general election tv debates on SIC at 21:00CET (Luís Montenegro (AD) x André Ventura (Chega)) and on CNN Portugal ay 22:00 (Rui Rocha (IL) x Mariana Mortágua (BE)). UK hosting the International Summit on the Future of Energy Security (agenda, through Fri); EU's von der Leyen, Jørgensen, Norway's energy minister among the participants.

    • Amongst other events, changeNow 2025 (through Sat). EU's Virkkunen speech at the 'European Competitiveness & Defense' event. EU's Síkela participates at 17:15CET in a fireside chat at Centre for Global Development Think Tank. Greece's economy and finance minister Pierrakakis discusses Greece's economic strategy, fiscal-policy priorities, and role in the European and global economy at 19:00CET at event organised by Atlantic Council, which is also hosting event at 21:30CET for Spain's finance minister Cuerpo who'll discuss his economic agenda and the country's fiscal outlook.

    • Macroeconomic updates include: Germany Apr Ifo survey, France Apr consumer confidence, Spain Mar PPI, Switzerland Apr economic sentiment index, Finland Mar unemployment rate, PPI, UK Apr industrial trends orders - CBI, Ireland Mar PPI. In addition, European Automobile Manufacturers' Association (ACEA) released March new passenger car registrations for EU + EFTA + UK +2.8% y/y

    • In corporate news, a busy morning for earnings with DACH names kicking off the session with Nestle (NESN.SW), Roche Holding (ROG.SW), BELIMO Holding (BEAN.SW), Heidelberg Pharma (HPHA.GR) and Delivery Hero (DHER.GR) releasing Q1 updates. In France, Air Liquide (AI.FP), BNP Paribas (BNP.FP), Bureau Veritas(BVI.FP) and Getlink (GET.FP) reported Q1 sales. Still in France, Sanofi (SAN.FP) and Orange (ORA.FP) released Q1 numbers and confirmed their respective FY guidance. In Italy, Eni (ENI.IM) reports Q1 adjusted net income €1.41B vs consensus €1.15B; identifies over €2B of mitigating actions and confirms 2025 distribution policy.

    • Out of the Nordics, Nokia (NOKIA.FH), Essity (ESSITY.B.SS), Telia (TELIA.SS) issued Q1 numbers. From the Benelux, Azelis Group (AZE.BB), Royal KPN (KPN.NA) and Fugro (FUR.NA) released Q1 earnings. In the UK, Unilever (ULVR.LN), RELX (REL.LN), The Weir Group (WEIR.LN), St. James's Place (STJ.LN), Hikma Pharmaceuticals (HIK.LN) are amongst others in the region to update investors with their latest numbers.

  • Politics/Macro/World News

    • Energy, defence and fish on the menu for von der Leyen in London - FT

    • UK and EU to finalise plans for defence pact - FT

    • Trump's U-Turns on Powell, China follow dire economic warnings - Bloomberg

    • Apple's EU fight is transatlantic tension in a nutshell - Politico

    • Britain's Tories brace for another electoral disaster - Politico

  • Top company news

    • Earnings/updates

      • DACHs

        • NESN.SW (Nestle) -- reports Q1 revenue CHF22.60B vs consensus CHF22.50B; reaffirms FY guidance

        • ADS.GR (Adidas) -- reports preliminary Q1 revenue €6.15B vs FactSet €6.17B [12 est, €6.03-6.48B]

        • KNIN.SW (Kuehne & Nagel) -- reports Q1 EPS CHF2.45 vs FactSet CHF2.36 [6 est, CHF2.25-2.52]

        • SGSN.SW (SGS) -- reports Q1 revenue CHF1.68B vs StreetAccount CHF1.66B

        • BEAN.SW (BELIMO Holding) -- reports Q1 revenue CHF275.8M, +24% vs year-ago CHF223.0M

        • SBS.GR (Stratec) -- reports preliminary FY24, provides FY25 guidance, and further postpones 2024 annual report

        • VONN.SW (Vontobel Holding) -- Trading Update: Q1 AuM increased by CHF6.0B q/q to a total of CHF235.1B

        • ROG.SW (Roche Holding) -- reports Q1 revenue CHF15.44B vs consensus CHF15.30B; confirms FY outlook

        • DHER.GR (Delivery Hero) -- Q1 trading update: GMV €12.37B vs consensus €12.38B; confirms FY25 guidance

      • Nordics

        • NOKIA.FH (Nokia) -- reports Q1 Comparable EPS €0.03 vs FactSet €0.04 [20 est, €0.02-0.07]; confirms FY guidance

        • AUTO.NO (AutoStore Holdings) -- reports Q1 net income ($2.7M) vs FactSet $30.1M [8 est, $25-36.7M]

        • PROT.NO (Protector Forsikring) -- reports Q1 EPS NOK9.00 vs FactSet NOK7.07 [3 est, NOK5.00-8.40]

        • ESSITY.B.SS (Essity) -- reports Q1 Adj. EPS SEK4.65 vs FactSet SEK4.55 [9 est, SEK4.15-4.93]

        • TELIA.SS (Telia Co.) -- reports Q1 EPS continuing ops SEK0.53 vs consensus SEK0.42; confirms FY guidance

      • France

        • KER.FP (Kering) -- reports Q1 revenue €3.88B vs StreetAccount €3.99B; Comparable change Group (14%) vs StreetAccount (11.9%)

        • EL.FP (EssilorLuxottica) -- reports Q1 revenue €6.85B vs StreetAccount €6.92B

        • HO.FP (Thales) -- reports Q1 revenue €4.96B vs consensus €4.80B; discusses tariffs and confirms all of its 2025 financial objectives

        • WLN.FP (Worldline) -- reports Q1 revenue €1.07B vs consensus €1.07B; will provide further update on 2025 outlook at H1 results in July

        • RNO.FP (Renault) -- reports Q1 revenue €11.68B vs StreetAccount €11.66B

        • BB.FP (Bic) -- reports Q1 revenue €478.4M vs consensus €497.0M

        • VRLA.FP (Verallia) -- reports Q1 adjusted EBITDA €147.0M vs FactSet €226.7M [3 est, €184.9-307.4M]

        • VU.FP (VusionGroup) -- reports Q1 adj. sales €232.8M, +31% vs year-ago €177.7M

        • ITP.FP (Interparfums) -- reports Q1 revenue €235.5M, +11% vs year-ago €212.7M

        • FNAC.FP (Fnac Darty) -- reports Q1 revenue €2.31B vs year-ago €1.79B; +29.0% y/y on reported basis and (0.6%) y/y on like-for-like

        • IDL.FP (ID Logistics Group) -- reports Q1 revenue €867.8M, +18% vs year-ago €736.3M

        • AI.FP (Air Liquide) -- reports Q1 revenue €7.03B vs consensus €7.00B

        • BNP.FP (BNP Paribas) -- reports Q1 net income attributable €2.95B vs consensus €2.94B

        • BVI.FP (Bureau Veritas) -- reports Q1 revenue €1.56B vs consensus €1.55B

        • GET.FP (Getlink) -- reports Q1 revenue €328M vs consensus €330.0M; confirms FY guidance

        • SAN.FP (Sanofi) -- reports Q1 Business EPS €1.79 vs consensus €1.70; confirms 2025 guidance

        • ORA.FP (Orange) -- reports Q1 adjusted EBITDA €2.48B ex-items vs FactSet €2.48B [3 est, €2.47-2.48B]

      • Benelux

        • GLPG.NA (Galapagos) -- reports Q1 EPS cont ops (€2.35) vs year-ago €0.36

        • KPN.NA (Royal KPN) -- reports Q1 adjusted EBITDA AL €634M vs consensus €624.0M; reaffirms FY guidance

      • Southern Europe

        • SPM.IM (Saipem) -- reports Q1 adjusted net income €77M vs StreetAccount €81.3M

        • ENI.IM (Eni) -- reports Q1 adjusted net income €1.41B vs consensus €1.15B; identifies over €2B of mitigating actions; confirms 2025 distribution policy

    • M&A

      • UBSG.SW (UBS Group) -- reportedly in talks with General Atlantic around potential private credit partnership -- Bloomberg

      • PIRC.IM (Pirelli & C.) -- CTS to acquire Däckia AB from Pirelli for an undisclosed sum; the two companies sign supply agreement through 2030

      • SHUR.BB (Shurgard Self Storage) -- signs new purchase agreement in Rotterdam

      • +SHAW.LN (Shawbrook Group) -- Shawbrook tentatively approached rival Starling Bank about £5B merger roughly two months ago as it considers alternatives to stock market listing -- Sky News

    • Healthcare

      • MRK.GR (Merck KGaA) -- CEO Belén Garijo's contract will likely not be renewed when it expires next year at the latest - Handelsblatt (23-Apr, 17:12 CET)

      • ZEAL.DC (Zealand Pharma) -- enrols first participant in Phase 2B ZUPREME-2 trial of petrelintide in people with overweight or obesity and type 2 diabetes

      • AB.FP (AB Science) -- announces that EMA granted orphan drug status to AB8939 for the treatment of acute myeloid leukemia

      • ORY.SM (Oryzon Genomics) -- announces share capital increase through an accelerated bookbuild offering

      • OSE.FP (OSE Immunotherapeutics) -- highlights Abstracts Selected for Presentation at ASCO 2025

      • CLTN.SW (Coltene Holding) -- appoints Matthias Altendorf as the new chairman of the board

    • Other

      • AUTO.NO (AutoStore Holdings) -- releases sustainability report

      • BA.LN (BAE Systems) -- awarded $46.4M DARPA contract modification

      • BESI.NA (BE Semiconductor Industries) -- BE Semiconductor Industries' dividend proposal of € 2.18/sh for the 2024 financial year was approved by the AGM

      • CS.FP (AXA) -- AXA's board announces its decision to propose the renewal of Thomas Buberl's mandate in 2026

      • ABN.NA (ABN AMRO Bank) -- notes next strategic plan will be presented at a Capital Markets Day in November 2025

      • SBMO.NA (SBM Offshore) -- starts €141M share repurchase following successful completion of 2024 program

  • Key rating changes

    • Upgrades

      • ASSA.B.SS (Assa Abloy) -- to buy from hold at Pareto

      • SIKA.SW (Sika Group) -- to outperform from underperform at BNP Paribas Exane

    • Downgrades

      • RCO.FP (Remy Cointreau) -- to neutral from outperform at Oddo

  • Data

    • Nikkei +0.49% to 35038.31

    • Hang Seng (1.04%) to 21842.16

    • Shanghai Composite +0.11% to 3299.82

    • S&P futures (7.5) vs prior close of 5401.8

    • €-$ +0.0025 or +0.22% to 1.1340

    • $-¥ (0.62) or (0.43%) to 142.83

    • €-¥ (0.32) or (0.20%) to 161.97

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