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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE flat, DAX (0.1%), CAC flat, IBEX flat, MIB (0.1%)

Jun 09 ,2025

  • Synopsis

    • European markets are set to open broadly flat to lower, in what should be a relatively quiet session. Markets are closed in Cyprus, Denmark, Greece, Iceland, Norway, Switzerland.

    • Asian equities advancing Monday, as US and China resume talks in London on Monday with export licenses a key topic of discussion. Meanwhile, China deflation pressures persisted in May with consumer and factory-gate prices shrinking at a quicker pace. China export growth slowed in-line with expectations amid steep drop in US-bound shipments due to tariffs. Import contraction also larger-than-forecast.

    • Last week, European equities added to the previous week's gains, posting the second positive close with Stoxx 600 up 0.90%, while the Dax posted another all-time high.

    • The week ahead sees UK Chancellor deliver spending review, May CPIs from across the region, UK Apr unemployment rate as well as earnings/updates from Halma (HLMA.LN), Inditex (ITX.SM), Safestore Holdings (SAFE.LN) and Tesco (TSCO.LN)

    • European macro data releases out today include Eurozone Jun Sentix economic index, Ireland Apr industrial production

    • In central banks, Bank of Spain's Gavilán speech at 10:45CET at tourism conf whilst at 16:00, governor Escrivá presents bank's annual report before parliamentary committee. Bank of Italy annual report at 11:00CET, presentation at 16:00, one of several presentations through the week. ECB's Elderson speech at 11:00CET on rule of law at Italian Court in Rome. Bruegel, Ministry of Finance and the National Bank of Slovakia jointly organised event at 9:00CET title Savings and Investment Union and closing the investment gap. France's President Macron hosts Argentina's President Milei. London Tech Week (through Fri), speakers include Nvidia's (NVDA) CEO at 9:05BST

  • Macro/politics

    • US and China set to meet for trade talks in London -- BBC

    • Fitch Downgrades Austria to 'AA'; Outlook Stable - link

    • BOE's Greene Sees Disinflation Continuing Despite Near-Term Hump -- Bloomberg

    • UK private-sector pay settlements fall despite higher minimum wage, data shows -- Reuters

    • Spanish opposition party rallies tens of thousands of protesters in Madrid -- AP

    • ECB is 'nearly done' with cuts if forecasts hold, Vujcic says -- Reuters

    • Don't Count on a Sustained Fed-ECB Decoupling, Schnabel Says -- Bloomberg

    • Hedge funds circle distressed French private equity-owned companies -- FT

    • Bundesbank President Nagel: Tariffs only have losers -- Deutschlandfun k interview

  • Top company news

    • Earnings/updates

      • UBSG.SW (UBS Group) -- releases statement on regulatory proposals made by the Swiss government; reaffirms capital return intentions for 2025

      • UBXN.SW (u-blox Holding) -- u-blox closes previously announced divestment of cellular business to Trasna; confirms guidance for Q2 2025

    • M&A

      • KOJAMO.FH (Kojamo) -- to sell 44 rental housing properties to Apollo-managed funds and Avant Capital Partners for debt-free sale price of €242M

      • REVB.LN (Revolution Beauty Group) -- Frasers Group considering making offer for Revolution Beauty Group - Sky News

      • ZEG.LN (Zegona Communications) -- Telefonica (TEF.SM) and Masorange have held informal talks on a potential deal for Vodafone Spain -- Bloomberg, citing sources

      • BP.LN (BP) -- "determined" to remain independent - Mail on Sunday

      • CABK.SM (CaixaBank) -- , BPCE put in bids for Novo Banco - Bloomberg

      • ACE.IM (ACEA) -- board has started examining ENI Plenitude's binding offer for Energia

      • G3 attracting interest from PE - Sky News

    • Healthcare

      • REGN (Regeneron) -- Regeneron, Sanofi present results from DICOVER Phase 4 trial of Dupixent at RAD Conference

      • SAN.FP (Sanofi) -- accelerates global shipping of Beyfortus to prepare healthcare providers months ahead of 2025-2026 RSV season

      • DIA.IM (DiaSorin) -- FDA grants 510(k) clearance to Diasorin's LIAISON PLEX Gram-Positive Blood Culture Assay

    • Other

      • ENI.IM (Eni) -- and YPF sign agreement for Argentina LNG (ARGLNG) project

      • BNP.FP (BNP Paribas) -- reportedly plans to cut up to 200 domestic retail branches by end of 2026 in profitability improvement efforts - Bloomberg

      • RNO.FP (Renault) -- France's defence ministry approaches Renault for drone production - Reuters

      • DEBS.LN (Debenhams Group) -- Mike Ashley seeking to increase his control of Debenhams - Telegraph

      • Estimated weekend box office revenues in US, Canada $111.5M, +7% y/y - Box Office Mojo

      • Regional Gaming Revenues - New York Sports Betting May 2025

      • Rio Tinto looking for nine figures of aid for Tomago aluminium smelter - Australian Financial Review

      • UK government to decide which carmakers get preferred tariffs in US - Sunday Times

  • Key rating changes

    • Upgrades

      • G.IM (Generali) -- to market perform from underperform at Keefe, Bruyette & Woods

      • MNG.LN (M&G Plc) -- to buy from neutral at UBS

      • LISP.SW (Lindt & Spruengli) -- to neutral from underperform at BNP Paribas Exane

    • Downgrades

      • HUH1V.FH (Huhtamaki) -- to hold from buy at Jefferies

      • DNLM.LN (Dunelm Group) -- to sector perform from outperform at RBC Capital Markets

      • GXI.GR (Gerresheimer) -- to hold from buy at Stifel

      • ALV.GR (Allianz) -- to market perform from outperform at Keefe, Bruyette & Woods

      • AV.LN (Aviva) -- to market perform from outperform at Keefe, Bruyette & Woods

    • Initiations

      • TRST.LN (Trustpilot Group) -- sell at Panmure Liberum

      • CRL.IM (Carel Industries) -- buy at UBS

      • UNI.IM (Unipol Gruppo) -- neutral at UBS

      • SBMO.NA (SBM Offshore) -- overweight at Morgan Stanley

      • VK.FP (Vallourec) -- equal-weight at Morgan Stanley

      • GTT.FP (Gaztransport & Technigaz) -- underweight at Morgan Stanley

      • OUT1V.FH (Outokumpu) -- buy at Nordea

  • Data

    • Nikkei +0.89% to 38078.56

    • Hang Seng +0.94% to 24016.64

    • Shanghai Composite +0.32% to 3396.15

    • S&P futures (10.0) vs prior close of 6006.8

    • €-$ +0.0025 or +0.22% to 1.1423

    • $-¥ (0.45) or (0.31%) to 144.40

    • €-¥ (0.07) or (0.04%) to 164.96

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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