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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.84%, DAX +1.17%, CAC +0.16%

May 29 ,2025

  • Synopsis

    • European equity markets are set to open higher amidst Asian equities strengthening Thursday as markets react to US court ruling against reciprocal tariffs. Widespread gains on regional benchmarks with Japan and Korea outperforming. China, Australia and Taiwan also advancing. S&P 500 and Nasdaq futures up 1-2% afterhours with NVDA +5% post-earnings. Bonds under pressure with Treasury yields higher along the curve. JGBs flat following Wednesday's steepening in wake of soft 40Y auction. NZ curve extending bear flattening move following Wednesday hawkish RBNZ cut. Dollar strengthening against majors. Crude advancing alongside equities while gold extending losses. Bitcoin off earlier lows. Of note, holidays: Switzerland (Ascension Day), Denmark, Finland, Iceland, Norway, Sweden

    • On today's agenda, EU's von der Leyen delivers a speech at the RWTH Aachen Univ., receives the Charlemagne Prize, at which EU's Kubilius, Chancellor Merz and King Felipe VI of Spain deliver speeches. EU's Kadis delivers a keynote speech at the NatCat Summit 2025. EP's Metsola take part in a discussion at the Università Cattolica del Sacro Cuore in Milan. Hungary's PM Orbán due to speak at CPAC Hungary (through Fri). Elsewhere, Fitch hosting event at 9:00CET on Portugal

    • In central banks, BOE's Breeden speech at 10:00BST at annual conf on non-bank financial sector and financial stability, as well as BOE's Saporta and Hall panellists at 15:45. BOE PRA's Truran panellist at 16:00BST at National Assn. of Insurance Commissioners' International Insurance Forum (through Fri). BOE's Bailey speaks at 20:00BST, fireside chat at Irish Assn. of Investment Managers Annual Dinner (other speaker EU's McGrath, livestream Bloomberg tv)). Croatia central bank event (through Fri) title Growth and resilience in CESEE in a more fragmented world; dinner speakers at 20:00CET governor Vujčić, EU's Dombrovskis.

    • Macroeconomic updates include: Italy May business/consumer confidence and Spain Apr retail sales

    • Limited earnings/trading updates. AEDAS Homes (AEADAS.SM) released FY earnings and approved new divi policy. eDreams ODIGEO (EDR.SM) is also out with Q4 numbers. On M&A front, Lone Star, Apollo, Reliance among firms that have reportedly expressed interest in acquiring BP's Castrol business (BP.LN). Also, Warburg Pincus, KPS Capital Partners in talks to team up on offer for Gerresheimer (GXI.GR).

  • Politics/Macro/World News

    • Germany's economy minister urges Brussels to back support plan for heavy industry - FT

    • Poland's rule of law 'is on the ballot' in Sunday's presidential election - Politico

    • Brussels gives ground as Donald Trump holds firm on 10% tariffs - FT

    • Trump's Global Tariffs Deemed Illegal, Blocked by Trade Court - Bloomberg

  • Top company news

    • Earnings/updates

      • CPI.AV (CPI Europe) -- reports Q1 FFO 1 after tax €57.1M vs year-ago €69.7M

      • DDRIL.NO (Dolphin Drilling AS) -- reports preliminary Q1 revenue $45.6M vs FactSet $41.2M [2 est, $36.1-46.3M]

      • AEDAS.SM (AEDAS Homes) -- reports FY net income €149.7M vs FactSet €111.7M [5 est, €100.5-116M]; approves new divi policy

      • EDR.SM (eDreams ODIGEO) -- reports Q4 adjusted net income €36.7M vs FactSet €23.5M

    • M&A

      • BP.LN (BP) -- Lone Star, Apollo, Reliance among firms that have reportedly expressed interest in acquiring BP's Castrol business -- Bloomberg

      • GXI.GR (Gerresheimer) -- Warburg Pincus, KPS Capital Partners in talks to team up on offer for Gerresheimer - Bloomberg

      • GOGL.NO (Golden Ocean Group) -- CMB.Tech and Golden Ocean confirm merger as previously disclosed in 22-Apr term sheet

      • PSM.GR (ProSiebenSat.1 Media) -- MFE comments on ProSiebenSat.1 Media's annual general meeting and exercise of voting rights

      • EQT.SS (EQT AB) -- Vista Equity Partners in advanced talks to acquire EQT-owned Acumatica - Bloomberg

      • NTGY.SM (Naturgy Energy Group) -- The CNMV informs that the partial voluntary takeover bid for Naturgy Energy Group, S.A. launched by the company itself has been authorised on 28-May-25.

      • BPSO.IM (Banca Popolare di Sondrio) -- BPER Banca receives further ECB authorizations for the acquisition of Banca Popolare di Sondrio (post EU close 29-May)

      • INSE.LN (Inspired) -- holder Regent Acquisitions 2025 Limited notes valid acceptances received for total of ~166K shares as of today

    • Other

      • STLAM.IM (Stellantis) -- and Amazon reportedly ending SmartCockpit software collaboration -- Reuters

      • BA.LN (BAE Systems) -- awarded $79.6M US Army contract modification

      • AC.FP (Accor) -- shareholders approve buyback program for up to €1.95B

      • CON.GR (Continental) -- announces that Aumovio SE CEO Philipp von Hirschheydt takes over Interim CFO Function

      • FR.FP (Valeo SE) -- wins major imaging radar program for automated driving from premium global automaker

      • ABN.NA (ABN AMRO Bank) -- discloses penalty order from NPPS

      • EQT.SS (EQT AB) -- EQT should take opportunity to build up business in the US to capitalise on investor fears about the country - FT, citing chair

      • IG.IM (Italgas) -- sets a price of €5.026/new share in connection with previously disclosed rights issue

  • Key rating changes

    • Downgrades

      • FNTN.GR (Freenet) -- to neutral from buy at Citi

      • FTK.GR (flatexDEGIRO) -- to equal-weight from overweight at Morgan Stanley

  • Data

    • Nikkei +1.68% to 38355.63

    • Hang Seng +1.10% to 23513.43

    • Shanghai Composite +0.72% to 3363.98

    • €-$ (0.0050) or (0.44%) to 1.1243

    • $-¥ +1.04 or +0.72% to 145.91

    • €-¥ +0.46 or +0.28% to 164.03

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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