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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.31%, DAX30 +0.17%, CAC40 +0.21%

May 09 ,2025

  • Synopsis

    • European indices are set to open higher as Asian equities trade mixed today. Japan outperforming with Nikkei back to pre-Liberation Day highs. Taiwan the other notable gainer with TSMC leading rally among semis

    • US equities were higher in Thursday trading, though stocks ended off best levels as market shed some of its gains in late afternoon weakness

    • US and UK provided some details on new trade agreement (many of which had already leaked), which marked the first for the White House since Trump reciprocal tariff announcement on 2-Apr. As expected, US to maintain 10% tariff on UK goods, which is estimated to generate $6B in annual revenue. UK will be able to send 100K vehicles to US and pay just a 10% tariff, marking a discount from the current 27.5% level.

    • In central banks, Bank of Finland's Rehn speech at 9:00CET at event co-hosted by Bruegel/Bank of Finland (livestream). BOE's Bailey speech ay 9:40BST at Reykjavik economic conf. Also, Bank of Lithuania's Šimkus at 14:10

    • Eco data reported so far today: Netherlands Mar Manufacturing Production (0.6%) m/m vs consensus (1.1%) and prior revised +0.9% from +1.2%

    • Economic data due today: UK Mar industrial/manufacturing production, Italy Mar industrial production, Norway Apr CPI, PPI, Sweden Mar industrial production, Denmark Mar trade balance, Greece Apr CPI, Mar industrial production, UK Apr house price balance - RICS, Apr GDP tracker - NIESR, Switzerland Apr consumer sentiment - SECO

    • Earnings reported so far: Orkla, Sonova Holding, bpost, Sif Holding, Catella, Höegh Autoliners, Capman, Commerzbank, Krones, Lonza.

  • Politics/Macro/World News

    • US and UK seal first deal of Donald Trump's trade war (FT )

    • Trump, Starmer hail limited US-UK trade deal, but 10% duties remain (Reuters )

  • Top company news

    • Earnings/updates

      • LONN.SW (Lonza Group) -- Q1 qualitative update: strong CDMO performance

      • PRTA (Prothena Corp.) -- reports Q1 EPS ($1.12) vs FactSet ($0.97) [8 est, ($1.19)-(0.50)]

      • ENEL.IM (Enel) -- reports Q1 ordinary net income €2.18B vs StreetAccount €1.92B

      • CPR.IM (Davide Campari-Milano) -- reports Q1 EBIT €129.1M vs StreetAccount €142.1M

      • CBK.GR (Commerzbank) -- reports Q1 net income €834M vs consensus €698M; strong outlook for FY25 confirmed

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- reports Q1 EPS $0.05 vs FactSet $0.22 [9 est, $0.05-0.44]

      • EUROB.GA (Eurobank Ergasias Services & Holdings) -- reports Q1 EPS €0.09 vs FactSet €0.09 [1 est]

      • KRN.GR (Krones) -- reports Q1 EPS €2.40 vs FactSet €2.47 [3 est, €2.35-2.58]

      • COL.SM (Inmobiliaria Colonial SOCIMI) -- reports Q1 net income €45.8M vs FactSet €44M [1 est]

      • MEL.SM (Melia Hotels International) -- reports Q1 net income attributable €6.7M vs FactSet €6.8M [3 est, €5.4-8.2M]

      • ECMPA.NA (Eurocommercial Properties) -- reports Q1 EPS €0.66 vs year-ago €0.57

      • RENE.PL (Redes Energeticas Nacionais SGPS) -- reports Q1 net income €14.4M

      • AKER.NO (Aker ASA) -- reports Q1 NAV NOK834/share

      • MOL.HB (MOL Hungarian Oil & Gas) -- reports Q1 EPS Ft204.00 vs FactSet Ft128.62 [2 est, Ft124.49-132.75]

      • GEST.SM (Gestamp Automoción) -- reports Q1 net income €27M vs FactSet €38.4M [3 est, €33-47.1M]

      • NVG.PL (The Navigator Co.) -- reports Q1 net income €48.3M, (25%) vs year-ago €64.1M (post EU close 8-May)

      • HAUTO.NO (Höegh Autoliners) -- Apr trading update: transported 1.2M cbm of cargo on prorated basis

      • ISB.IR (Íslandsbanki) -- reports Q1 net income ISK5.2M vs year-ago ISK5.4M

      • CE.IM (Credito Emiliano) -- reports Q1 net income €229.3M vs FactSet €227.4M [5 est, €217-242M]

    • M&A

      • BP.LN (BP) -- vulnerable to takeover amid sliding share price; Shell, Chevron, ExxonMobil, TotalEnergies and Adnoc have all run the numbers - FT

      • UBSG.SW (UBS Group) -- in talks to sell O'Connor hedge fund unit to Cantor Fitzgerald -- Bloomberg

      • COP.GR (CompuGroup Medical) -- holder CVC Capital Partners to make public delisting offer in the amount of €22.00 per CGM Share

      • OET.NO (Okeanis Eco Tankers) -- declares option to purchase back VLCC vessels Nissos Kea, Nissos Nikouria, and Nissos Anafi

      • AKER.NO (Aker ASA) -- reports Q1 NAV NOK834/share

      • SBX.NO (Seabird Exploration) -- expects combination with Energy Drilling to be completed around 26-May

    • Healthcare

      • UCB.BB (UCB) -- receives approval from PMDA in Japan for at-home self-administration with infusion pump or new manual push syringe method for RYSTIGGO

      • IGMS (IGM Biosciences) -- discloses it receives notice of termination from Sanofi regarding 28-Mar-22 Collaboration and License agreement - 8-K

      • INDV.LN (Indivior) -- announces Joe Ciaffoni takes up role as CEO effective 8-May - 8-K

    • Other

      • AMS.SM (Amadeus IT Group) -- Amadeus IT Group's French subsidiary Amadeus sas will launch a share buy-back program

      • WTB.LN (Whitbread) -- selects Christine Hodgson as preferred candidate to replace Adam Crozier as chair - Sky News (8-May, 13:46 BST)

      • EPI.A.SS (Epiroc) -- to buy back not more than 1.9M series A shares

      • BPSO.IM (Banca Popolare di Sondrio) -- BPER Banca receives Bank of Ireland approval to increase stake in Arca Vita International DAC following completion of offer for Banca Popolare di Sondrio

      • DOCM.SW (DocMorris) -- shareholders approve CHF 200M capital increase through a rights issues

      • SWON.SW (SoftwareONE Holding) -- SoftwareOne appoints Hanspeter Schraner as new Group CFO as of 1-Jun-25

      • IAG said to be planning order for ~30 Boeing Dreamliners -- Bloomberg (earlier)

      • Market themes today include gains in tariff-exposed segments, quantum computing; while pharma lags on expected EO (8-May)

  • Key rating changes

    • Upgrades

      • Morgan Stanley upgrades HLN, HLN.LN

    • Downgrades

      • WKL.NA (Wolters Kluwer) -- to neutral from buy at UBS

      • GLE.FP (Societe Generale) -- to neutral from buy at UBS

      • KOG.NO (Kongsberg Gruppen) -- to sell from hold at DnB Markets

      • BALD.B.SS (Fastighets Balder) -- to hold from buy at Pareto

      • SAGA.B.SS (Sagax) -- to hold from buy at SEB

    • Other Actions

      • PTEC.LN (Playtech) -- resumed buy at Jefferies

  • Data

    • Nikkei +1.53% to 37493.03 Hang Seng (0.10%) to 22753.54 Shanghai Composite (0.22%) to 3344.78 S&P futures +0.0 vs prior close of 5684.5 €-$ (0.0003) or (0.03%) to 1.1226 $-¥ (0.34) or (0.23%) to 145.57 €-¥ (0.42) or (0.26%) 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.
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