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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.53%), DAX (0.71%), CAC (0.75%)

May 22 ,2025

  • Synopsis

    • European equity markets are set to open lower amid Asian equities also weaker Thursday. Broad risk-off move on regional benchmarks amid heightened attention on bond yield backup. Hong Kong, Japan, Australia, Korea and Taiwan all in negative territory. S&P 500 futures flat afterhours. Treasuries little changed following earlier curve steepening while JGB yields extending move higher at the long end. Dollar at two-week low against yen, steady elsewhere. Crude flat while gold advancing to two-week high. Bitcoin at new record high, topping $110K.

    • In central banks updates, Austria central bank's Annual Economic Conf in cooperation with SUERF (agenda). Governor Holzmann speech at 9:00CET and chairs panel at 9:15, moderates lecture at 19:00, BOE's Pill speech at 14:30. Norges Bank releases expectations survey Q2 at 10:00CET. Croatia central bank's Vujcic speaks at 10:20CET at conf in Opatija. BOE's Breedon panellist at 11:30BST on final day of FT hosted climate summit whilst BOE's Dhingra panellist at 12noon BST at event organised by The Economic Statistics Centre of Excellence (Wed-Fri). Bundesbank publishes latest monthly report at 12noon CET whilst Bundesbank's Nagel and finance minister Klingbeil give press conf at 15:30CET at G7 meeting. ECB's Elderson speech ay 17:00CET at Naturalis Biodiversity Center on World Biodiversity Day. ECB's de Guindos speech at 17:30CET on final day of at event hosted by Expansión. Börsen-Zeitung Retail Banking Day includes Bundesbank's Theurer speech at 9:30CET.

    • Other events today include, 5th Accession Conf. with Albania. EU ministers attend Competitiveness Council (Internal market and industry) and Brussels Economic Forum. Treasury 360 Nordic sees execs for NIBE Industrier (NIBE.B.SS) and LM Ericcson (ERIC.B. SS), others. EU's Kubilius delivers speech at the event in London 'Investing in Europe's defence future' and Zaharieva speaks ~9:00CET during the EP Plenary debate on 'Choose Europe for Science'. In UK, parliamentary committee topics include nitrogen at 10:00BST. Lithuanian President Nauseda hosts Chancellor Merz. Norway's PM Støre hosts NATO's Rutte.

    • Macroconomic data include: Eurozone, France, Germany, UK May preliminary manufacturing/services PMIs, Germany May IFO survey, France May business climate/survey, UK May industrial trends orders - CBI, Ireland Apr PPI, Norway Apr unemployment rate, Finland Apr unemployment rate.

    • In corporate news, Assicurazioni Generali (G.IM) reports Q1 net income €1.20B ex-items vs consensus €1.12B. In the DACH region, CTS Eventim (EVD.GR) reports Q1 adjusted EBITDA €100.3M vs FactSet €94.5M. From the Benelux, Ackermans & van Haaren (ACKB.BB) Q1 trading update; confirms its earlier forecast of a higher net profit in 2025 compared to 2024. Out of the Nordics, Embracer Group (EMBRAC.B.SS) is out with FY numbers and announced intention to spin-off Coffee Stain Group by the end of calendar year 2025; Embracer also plans name change with spin-off.

    • CMD/events: Evonik Industries (EVK.GR), EQT (EQT.SS), Orion (ORNBV.FH), CTEK (CTEK.SS), Robertet (RBT.FP)

  • Politics/Macro/World News

    • UK seeks to sell Brexit checkpoint made redundant by EU reset deal - FT

    • Why Romania's new leader is already facing a domestic political storm - FT

    • In Trump's war on clean energy, China (and everyone else) wins - Politico

    • Dimon warns of US stagflation risk, says Fed right to hold - Bloomberg

  • Top company news

    • Earnings/updates

      • DACHs

        • B2W.GR (Borr Drilling) -- reports Q1 net income ($16.9M) vs year-ago $14.4M - 6-K

        • FNTN.GR (Freenet) -- reports Q1 EBITDA €126.1M vs consensus €129.8M

        • GALE.SW (Galenica) -- reports 4M revenue CHF1.31B vs year-ago CHF1.26B

        • CAI.AV (CA Immobilien Anlagen) -- reports Q1 FFO €34.2M vs year-ago €26.7M

        • SBO.AV (Schoeller-Bleckmann Oilfield Equipment) -- reports Q1 EPS €0.83 vs year-ago €0.95

        • STR.AV (STRABAG SE) -- 3M trading statement, confirms FY25 guidance

        • EVD.GR (CTS Eventim) -- reports Q1 adjusted EBITDA €100.3M vs FactSet €94.5M [4 est, €87.7-97.4M]

      • France

        • NANO.FP (Nanobiotix) -- provides Q1 2025 operational and financial update

        • ELIOR.FP (Elior Group) -- reports H1 adjusted net income €56M vs year-ago €22M

        • RBT.FP (Robertet) -- presents "Seed to Success 2030" strategic roadmap at today's CMD

      • Nordics

        • EMBRAC.B.SS (Embracer Group) -- reports FY adj EPS SEK5.80 vs FactSet SEK8.51 [15 est, SEK2.38-13.54]; tariff developments exposure estimated at ~2% on adj EBIT

        • BETCO.SS (Better Collective) -- reports Q1 EBITDA before special items €22M vs FactSet €24.4M [4 est, €21.7-27.8M]

        • MPCC.NO (MPC Container Ships) -- reports Q1 EPS $0.11 vs FactSet $0.11 [4 est, $0.10-0.11]

      • Southern Europe

        • BCP.PL (Banco Comercial Portugues) -- reports Q1 net income €243.5M vs FactSet €221.9M [7 est, €205-234M]

        • G.IM (Assicurazioni Generali) -- reports Q1 net income €1.20B ex-items vs consensus €1.12B

        • MFEB.IM (MFE-MEDIAFOREUROPE) -- reports Q1 net income €51.4M vs year-ago €16.8M

        • SON.PL (Sonae SGPS) -- reports Q1 net income attributable €43M vs FactSet €22M [2 est, €20-24M]

      • Benelux

        • IBAB.BB (Ion Beam Applications ) --Q1 business update: YTD performance in line with expectations; reiterates guidance

        • ACKB.BB (Ackermans & van Haaren) -- Q1 trading update; confirms its earlier forecast of a higher net profit in 2025 compared to 2024

    • M&A

      • STERV.FH (Stora Enso) -- to divest 12.4% of Swedish forest holdings for €900M

      • JMAT.LN (Johnson Matthey) -- reportedly to sell its Catalyst Technologies unit for £1.5B-2B -- Sky News

      • VIGL (Vigil Neuroscience) -- Sanofi to acquire Vigil Neuroscience for $8/sh in cash

      • DG.FP (VINCI SA) -- VINCI SA's Cobra IS disposes of its 50% stake in the Mantiqueira high-voltage power line in Brazil to Brookfield for ~€130M

      • ACA.FP (Credit Agricole) -- Credit Agricole, Crelan Group enter long-term partnership

      • VIGL (Vigil Neuroscience) -- Follow up: Sanofi to acquire Vigil Neuroscience

      • CAI.AV (CA Immobilien Anlagen) -- reports Q1 FFO €34.2M vs year-ago €26.7M

      • DGV.IM (Digital Value) -- sells its entire 78.8% stake in Technis Blu to Values AI for an initial €640K

    • Healthcare

      • ROG.SW (Roche Holding) -- Roche's Genentech signs strategic partnership with Orionis Biosciences; worth up to $2B+ (earlier, 7:00ET)

      • SDZ.SW (Sandoz Group) -- launches Pyzchiva autoinjector, first commercially available in Europe for ustekinumab biosimilars

      • RLF.SW (RELIEF THERAPEUTICS Holding) -- FDA grants Rare Pediatric Disease designation to RELIEF THERAPEUTICS Holding's RLF-TD011 for epidermolysis bullosa

      • OSE.FP (OSE Immunotherapeutics) -- announces strategic collaboration on Novel mRNA Technologies; receives €1.3M public funding

      • EMBRAC.B.SS (Embracer Group) -- intends to spin-off Coffee Stain Group by the end of calendar year 2025; Embracer also plans name change with spin-off

    • Other

      • NESN.SW (Nestle) -- CEO Laurent Freixe criticizes diversification efforts under previous CEO Mark Schneider; says it weakened the fabric of the organization - FT, citing CEO

      • BA.LN (BAE Systems) -- awarded $423.3M US Army contract

      • FER.SM (Ferrovial) -- confirms interim scrip dividend of €0.3182 per share

      • DOCM.SW (DocMorris) -- announces number of shares sold in rights offering

      • RECSI.NO (REC Silicon) -- announces that shareholders representing more than 5% of the capital request an investigation

      • ACA.FP (Credit Agricole) -- Credit Agricole, Crelan Group enter long-term partnership

  • Key rating changes

    • Upgrades

      • MKS.LN (Marks & Spencer Group) -- to buy from hold at Jefferies

    • Downgrades

      • SBRY.LN (J Sainsbury) -- to hold from buy at Jeffferies

    • Other Actions

      • BGEO.LN (Lion Finance Group) -- transferred buy at Peel Hunt; prior rating was buy

  • Data

    • Nikkei (0.82%) to 36993.08

    • Hang Seng (0.83%) to 23630.14

    • Shanghai Composite (0.12%) to 3383.50

    • S&P futures +7.8 vs prior close of 5861.3

    • €-$ +0.0002 or +0.02% to 1.1333

    • $-¥ (0.37) or (0.26%) to 143.31

    • €-¥ (0.39) or (0.24%) to 162.40

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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