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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE +0.29%, DAX +0.13%, CAC40 +0.14%

May 30 ,2025

  • Synopsis

    • European equity markets are set for a positive open as markets in Switzerland, Sweden, Finland, Norway and Iceland come back online after a bank holiday on Thur. Denmark remains closed. Asian equities trading lower Friday. Markets giving back Thursday's gains amid ongoing trade uncertainty. Hong Kong and Japan seeing biggest losses. Mainland China and Korea posting milder declines while Australia flat. S&P 500 futures weakening afterhours.

    • US Federal Appeals Court temporarily stayed Trade Court's ruling on Wednesday blocking tariffs imposed under International Emergency Economic Powers Act. Analysts also pointed out White House can rely on other statutes to enact tariffs. Situation likely remain to complicated amid view judicial wrangling could stretch trade negotiations while other tariff routes may require trade investigations as a prerequisite.

    • US-Asia trade negotiations moving along though Treasury Secretary Bessent said negotiations with China have stalled, requiring Xi-Trump call to move things along. Japan PM Ishiba held another call with Trump to discuss tariffs and areas of cooperation.

    • In central banks, Croatia central bank's Vujčić speech at 9:00CET and closing remarks 17:00 on second and final day of conf, other panellists/speakers include Hungarian central bank's Varga at 9:30, EU's Kos at 15:40. Bank of Italy's Panetta speaks at 10:30CET in conjunction with publication of the Annual Report. Also, UK Apr car manufacturing data released by SMMT. BoE Governor Bailey reiterated call for closer ties with the EU to counter effects of Brexit and boost trade.

    • A busy macro front sees Germany May preliminary CPI, Apr retail sales, Italy Q1 final GDP, May preliminary CPI, Apr PPI, Spain May preliminary CPI, Switzerland May leading indicator - KOF, Apr retail sales, Eurozone Apr M3 money supply, Norway May retail sales, Sweden Q1 final GDP, Greece Apr unemployment rate, PPI, Mar retail sales, Portugal May preliminary CPI, Q1 final GDP, UK May house price index - Nationwide, Ireland May preliminary HICP. The UK LLoyds Bank business barometer jumped to its highest level since last August.

    • On a light earnings front, Stratec (SBS.GR) reported Q1 results with EPS €0.26 ex-items vs year-ago restated €0.09 and confirmed FY guidance.

  • Politics/Macro/World News

    • Bank of England policymaker plays down inflation risk in call for rate cuts - FT

    • Dismay as UK prepares to sign 'values-free' £1.6bn trade deal with Gulf states - Guardian

    • Federal appeals court ruling lets tariffs stay on, for now

    • Bessent says talks with China "bit stalled" as other countries react cautiously to court ruling

    • US court rulings on tariffs risks prolonging global trade uncertainty

    • Trump administration studying different method of reinstituting tariffs

    • Finland Q1 GDP +0.8% y/y vs preliminary +1.2%

      • 0.0% q/q vs preliminary +0.1%

  • Top company news

    • Earnings/updates

      • NOL.NO (Northern Ocean) -- reports Q1 EPS ($0.04) vs FactSet ($0.06)

      • SBS.GR (Stratec) -- reports Q1 EPS €0.26 ex-items vs year-ago restated €0.09; reaffirms FY guidance

    • M&A

      • GLEN.LN (Glencore) -- reportedly transferred ~$30B in foreign assets into Australian subsidiary late last year -- AFR (earlier, likely intraday UK)

      • ERA.AU (Energy Resources of Australia) -- Rio TInto's subsidiary North Limited applies to Federal Court of Australia for approval to proceed with acquisition of remaining ERA shares

      • SIS.LN (Science In Sport) -- receives shareholder approval for Bidco acquisition agreement

      • PUBLI.NO (PUBLIC PROPERTY INVEST) -- acquires two healthcare/community service properties in Helsinki in Finland for a total property value of €63M

    • Healthcare

      • ROG.SW (Roche Holding) -- Genentech announces new 96-week data for fenebrutinib demonstrating patients with relapsing multiple sclerosis (RMS) maintained no disability progression and low levels of disease activity for up to two years

      • DHR (Danaher) -- announces precision medicine partnership with AstraZeneca (AZN.LN)

      • REGN (Regeneron) -- Pharmaceuticals, Inc. and Sanofi announce itepekimab met primary endpoint in one of two Chronic Obstructive Pulmonary Disease (COPD) Phase 3 trials

      • SFL.IM (Safilo Group) -- announces the renewal of the supply agreement with Kering Eyewear until 2029

    • Other

      • PEN.NO (Panoro Energy) -- cancels 3.5M treasury shares

      • SAN.SM (Banco Santander) -- exploring expansion in digital assets, including early-stage plans to offer a stablecoin - Bloomberg (29-May, 16:19 CET)

      • BN.FP (Danone) -- Danone's Group Deputy CEO, CEO Americas steps down to pursue a new opportunity outside of the company, effective 13-Jun

      • NWG.LN (NatWest Group) -- UK Treasury set to sell remaining shares of NatWest tomorrow -- Sky News

      • SRG.IM (Snam) -- announces the launch of an accelerated bookbuilding process for the sale of a portion of its option rights as part of the Italgas capital increase

      • SRG.IM (Snam) -- completes accelerated bookbuilding for institutional placement of 83.3M option rights at €0.396 per option right

      • MBTN.SW (Meyer Burger Technology) -- shuts down solar module production; lays off 282 employees in the U.S.

      • Safilo Group announces the renewal of the supply agreement with Kering Eyewear until 2029

      • Synopsis suspends guidance after BIS letter on China import curbs; SCOTUS permits allows limiting of enviro review in thematic and ESG intraday news (29-May)

  • Key rating changes

    • Upgrades

      • WEIR.LN (Weir Group) -- to buy from hold at Kepler Cheuvreux

    • Downgrades

      • SOI.FP (SOITEC) -- to hold from buy at HSBC

      • BLND.LN (British Land Co.) -- to hold from buy at Kepler Cheuvreux

    • Other Actions

      • SYSR.SS (Systemair) -- transferred buy at DNB Carnegie

  • Data

    • Nikkei (0.84%) to 38109.26

    • Hang Seng (1.38%) to 23247.61

    • Shanghai Composite (0.17%) to 3357.73

    • S&P futures (2.8) vs prior close of 5922.8

    • €-$ (0.0016) or (0.14%) to 1.1353

    • $-¥ (0.35) or (0.25%) to 143.83

    • €-¥ (0.64) or (0.39%) to 163.25

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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