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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE closed, DAX (0.08%), CAC40 +0.34%

May 05 ,2025

  • Synopsis

    • European equity markets are set for a mixed open with UK and Irish markets closed for a bank holiday. Asian equities weaker Monday. Thin-volume session with Japan, Greater China and Korean markets closed for public holidays. Australia and Taiwan trading lower, tracking weakness in S&P 500 futures. Australian and New Zealand bonds under pressure with curves flattening. Dollar weakening against majors while EM Asia currencies seeing sharp upswings. Crude selling off after OPEC+ agreed to another outsized production hike. Gold strengthening while Bitcoin pulling back from Feb-2025 highs.

    • In central banks, Bundesbank's Mauderer panellist title 'Europe needs greater cohesion than ever. But why?' at 17:00CET at event hosted by bank. In politics, Europe of research in Paris! event sees speeches by EU's von der Leyen and France's President Macron. Portugal general election radio debate between leaders of parties with seats in parliament at 9:30CET simultaneous on Antena 1/Observador/Renascença/TSF. North Rhine-Westphalia State Assn. of Business Assns. Entrepreneurs' Day; speakers include CDU's Merz at 18:00CET. Also in the evening, Chancellor Scholz will be bid farewell from his office by the Bundeswehr with a Grand Tattoo. Norway's PM Støre participate in a public meeting at 18:00CET at Søndre Nordstrand. NEXT Mila.

    • Macro data sees Switzerland Apr CPI, Eurozone May investor confidence - Sentix and Sweden Apr services PMI due for release.

    • On the corporate front, Stabilus (STM.GR) reported Q2 results whilst Friday post close, Groupe Bruxelles Lambert (GBLB.BB) reported NAV €111.17 per share as of 31-Mar-25. In the Nordics, BW Energy (BWE.NO) and Ratos (RATO.B.SS) are out with reports. Eutelsat Communications (ETL.FP) announced CEO Eva Berneke will be replaced by Jean-François Fallacher.

  • Politics/Macro/World News

    • OPEC+ plans to accelerates production hikes following Saturday's bumper increase

    • Ukraine's Zelenskiy, in Prague, says ceasefire could be put in place at any moment - Reuters

    • French PM: considering referendum proposal on budget - Reuters

    • Labour MPs press Keir Starmer to rethink benefits cuts after local elections - FT

  • Top company news

    • Earnings/updates

      • Benelux:

        • GBLB.BB (Groupe Bruxelles Lambert) -- reports NAV €111.17 per share as of 31-Mar-25

      • DACHs:

        • STM.GR (Stabilus) -- reports Q2 net income €11.2M vs FactSet €13.5M [1 est]

      • Nordics:

        • BWE.NO (BW Energy) -- reports Q1 net income $83M vs FactSet $57.3M [3 est, $47-66M]

        • RATO.B.SS (Ratos) -- reports Q1 EPS SEK0.76 vs FactSet SEK0.29 [4 est, SEK0.11-0.41]

    • M&A

      • KNOW.SS (Knowit) -- to divest Knowit Consulting Services to Right People Group for DKK96M (SEK140.1M) on cash and debt-free basis

      • SHEL.LN (Shell Plc) -- is reportedly in talks with advisors on a possible BP deal - Bloomberg

      • CPAY (Corpay) -- issues statement regarding Alpha Group International

      • AAL.LN (Anglo American) -- set to launch formal De Beers sale process 'very soon' - FT, citing De Beers CEO

      • KGF.LN (Kingfisher) -- completes sale of Brico Dépôt Romania

      • ABF.LN (Associated British Foods) -- Associated British Foods, Hovis discussing merger - Sky News

      • I-Squared-led consortium in talks to buy majority stake in Matterhorn Express Pipeline - Bloomberg

      • Unable to reach deal, Bharti Airtel, Tata Group terminate discussions on potential combination of Bharti Telemedia, Tata Group's DTH business

      • Bain circling Healthscope's debt - The Australian

      • Ravenswood contest nears conclusion as field of potential suitors narrows - The Australian

    • Healthcare

      • EKTA.B.SS (Elekta) -- announces preliminary results of the ERECT trial at the ESTRO annual congress

      • VLA.FP (Valneva) -- EMA's PRAC and ETF comment on the safety of Ixchiq

      • PHXM.FP (Phaxiam Therapeutics) -- announces the continuation of its observation period under the receivership procedure

      • EGTX.SS (Egetis Therapeutics) -- confirms availability of its first approved product, Emcitate (tiratricol) in Germany, as of 1-May

    • Other

      • ETL.FP (Eutelsat Communications) -- CEO Eva Berneke will be replaced by Jean-François Fallacher

      • BWE.NO (BW Energ) -- takes FID to develop Maromba field in Brazil; first oil is planned by end-2027 with expected plateau production of 60,000 bopd

      • SKA.B.SS (Skanska) -- awarded SEK880M construction contract in Gothenburg, Sweden

      • MZX.GR (Masterflex) -- to build new plant in Morocco, targets doubling sales in aviation business

      • EQV1V.FH (eQ) -- appoints Jouko Pölönen as CEO, effective no later than 5-Nov

      • XLS.SW (Xlife Sciences) -- 2024 project portfolio valued at CHF617.4-754.7M vs year-ago CHF611.7-747.8M

      • SUBC.NO (Subsea 7) -- awarded contract by Petrobas valued over $1.25B

      • Estimated weekend box office revenues in US, Canada $144.7M, +95.9% y/y - Box Office Mojo

      • State Department approves possible Foreign Military Sale to Ukraine of F-16 training and sustainment and related equipment

  • Key rating changes

    • Upgrades

      • AIR.FP (Airbus SE) -- to buy at Jefferies

    • Initiations

      • ADS.GR (Adidas) -- overweight at Piper Sandler

  • Data

    • Nikkei closed

    • Hang Seng closed

    • Shanghai Composite closed

    • S&P futures (39.5) vs prior close of 5709.0

    • €-$ +0.0033 or +0.29% to 1.1339

    • $-¥ (0.59) or (0.41%) to 144.12

    • €-¥ (0.31) or (0.19%) to 163.40

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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