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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.61%, DAX30 +1.42%, CAC40 +0.39%

May 02 ,2025

  • Synopsis

    • European indices are set to open higher as most continental Europe indices re-open today after yesterday's bank holiday. Asian equities gaining Friday as markets react to latest US-China trade developments. Hong Kong and Taiwan outperforming, Japan and Australia seeing milder gains while Korea little changed.

    • Big trade news overnight was China Commerce Ministry revealing Beijing evaluating US offer on negotiations.

    • US equities finished higher in Thursday trading, though ended near session lows after coming off in the last minutes of trading. S&P nevertheless logged its eighth consecutive gain

    • AMZN reported after the US close yesterday with Q2 operating profit guidance softer-than-expected with group flagging material impact from trade and tariff policies, FX volatility and recessionary concerns.

    • Among central banks updates: ECB publishing its latest Economic Bulletin at 10:00CET.

    • Macroeconomic releases due today include: Italy, Norway, Spain, Sweden, Switzerland Apr manufacturing PMI and final reads for Eurozone, France, Germany, UK, Italy Mar unemployment rate. Eurozone Apr preliminary CPI, Mar unemployment rate

    • In corporate news: ING Groep (INGA.NA) reports Q1 net income €1.46B vs consensus €1.41B. Standard Chartered reports Q1 underlying EPS $0.63 vs consensus $0.54 (STAN.LN).

  • Politics/Macro/World News

    • Reform UK wins knife-edge Runcorn by-election (FT )

    • China Says It's Assessing US Talks, Hinting at Possible Thaw (BBG )

  • Top company news

    • Earnings/updates

      • INGA.NA (ING Groep) -- reports Q1 net income €1.46B vs consensus €1.41B; announces €2B buyback and now expects CET1 ratio by end of FY25 of between 12.8-13.0%

      • STAN.LN (Standard Chartered) -- reports Q1 underlying EPS $0.63 vs consensus $0.54

    • M&A

      • EQNR.NO (Equinor) -- Brasil to divest its 60% interest in Peregrino field to Prio Tigris for $3.5B

      • COFB.BB (Cofinimmo) -- Aedifica proposes voluntary conditional exchange offer on all shares of Cofinimmo

      • EQNR.NO (Equinor) -- Follow-up: Equinor Brasil to divest its 60% interest in Peregrino field to Prio Tigris for $3.5B

      • STERV.FH (Stora Enso) -- completes acquisition of the Finnish sawmill company Junnikkala

      • SOP.FP (Sopra Steria Group) -- has completed its acquisition of Aurexia, a management consulting firm specialising in financial services.

      • Johnson & Johnson, Medtronic, GE Healthcare evaluating bids for J&J-backed HistoSonics, which is seeking valuation of over $2.5B - FT

    • Healthcare

      • SAN.FP (Sanofi) -- FDA grants orphan drug designation to Sanofi for treatment of multiple myeloma

      • CYTK (Cytokinetics) -- announces new PDUFA date for Aficamten in obstructive hypertrophic cardiomyopathy

      • GMAB.DC (Genmab) -- to submit sBLA to FDA for epcoritamab plus R2 in patients with R/R FL in H1

      • INDV.LN (Indivior) -- SEC filing: 10-Q

      • INDV.LN (Indivior) -- provides update on civil opioid litigation & SUBOXONE Film lawsuits - 10-Q

    • Other

      • SSPG.LN (SSP Group) -- Activist fund Irenic Capital said to have taken ~2% stake in SSP Group -- FT

      • MC.FP (LVMH Moet Hennessy Louis Vuitton) -- reportedly to eliminate 10% of workforce in its wine and spirits subsidiary, aiming for 2019 headcount level in coming years - Le Lettre

      • INGA.NA (ING Groep) -- ING completes share buyback and announces new program for €2.0B

      • BA.LN (BAE Systems) -- awarded $172.3M US Navy contract modification

      • BA.LN (BAE Systems) -- awarded $73.4M US Navy contract

      • France Apr new passenger car registration (5.6%) y/y to 138,694 vehicles -- PFA

  • Key rating changes

    • Upgrades

      • BRG.NO (Borregaard) -- to buy from hold at Handelsbanken

      • COFB.BB (Cofinimmo) -- to neutral from underperform at BNP Paribas Exane

      • PNDX.B.SS (Pandox) -- to buy from hold at DnB Markets

      • SOLB.BB (Solvay) -- Solvay transferred neutral at BNP Paribas Exane; prior rating was underperform

      • SPX.LN (Spirax Group) -- to buy from hold at Peel Hunt

      • TLX.GR (Talanx) -- to overweight from equal-weight at Morgan Stanley

    • Downgrades

      • BRG.NO (Borregaard) -- to hold from buy at Berenberg

    • Other Actions

      • DSV.DC (DSV A/S) -- reinstated buy at Goldman Sachs

      • DSV.DC (DSV A/S) -- resumed overweight at Morgan Stanley

  • Data

    • Nikkei +1.09% to 36850.70

    • Hang Seng +1.53% to 22458.48

    • Shanghai Composite +0.00% to 3279.03

    • S&P futures +41.3 vs prior close of 5623.3

    • €-$ +0.0018 or +0.16% to 1.1310

    • $-¥ (0.19) or (0.13%) to 145.21

    • €-¥ +0.10 or +0.06% to 164.27

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".

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