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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.05%), DAX (0.14%), CAC (0.13%)

Jun 10 ,2025

  • Synopsis

    • European markets are set to open lower whilst Asian equities mostly higher Tuesday with resumption of US-China trade negotiations aiding sentiment. TSMC driving Taiwan's outperformance. Japan, Korea and Australia the other notable gainers while Greater China markets little changed. S&P 500 futures advancing afterhours. Treasury and JGB yields down 1-3 bp at the long end. Dollar up slightly against euro and yen, steady elsewhere. Crude adding to overnight gains while gold and copper in retreat. Bitcoin extending rally back towards record high.

    • On today's agenda, EU's Šefčovič speaks and participates in the Visegrad 4 Business Conf. EU's Kubilius speech at European Defence & Security Summit. EU's Jørgensen interview at 17:10CET at event title scaling up clean energy in Europe organised by Politico. Chancellor Merz hosts Netherlands PM Schoof in the afternoon, joint press conf. follows. Amongst events are European Sustainable Energy Week 2025 and FT event at 9:00BST where senior industry leaders will share their insights on the impact of GenAI on insurance as well as at 14:00 on what is next for global air travel?

    • In politics, in UK, there's MPs questions on energy security and net zero at 11:30BST, whilst committee topics include work of the FCA at 10:15, delivering 1.5M new homes: land value capture 10:00 and work of the Chief of the Defence Staff at 15:00. In Norway, minister of trade, industry and fisheries Myrseth presents at 13:00CET the State Ownership Report 2024 and participates in conf highlighting current topics that are of importance to the state as an owner and Norwegian business and industry.

    • In central banks, Bank of France's Villeroy speech at 9:10CET at Europlace conf. Austria central bank press conf at 10:00CET in connection with release of its latest Financial Stability Report, governor Holzmann due to speak, the same time as Bank of Finland's Rehn speaks at press conf. on the outlook for the Finnish economy. BOE's Cleland fireside chat at 10:40BST at the Cash in the UK conf. ECB's Buch panellist at 16:30CET at event hosted by Jacques Delors Centre, the same time as ECB's Donnery makes presentation at IIF European Chief Risk Officer Forum. ECB Conf on Financial Stability and Macroprudential Policy (through Wed), BOE's Kroszner speech at 10:00BST. Riksbank publishes its latest business survey at 9:30CET whilst ECB publishes its latest survey of monetary analysts at 10:00CET. Bank of Italy's jointly organised International Conf on Sovereign Bond Markets (through Wed) and Bank of Spain releases its latest economic forecast.

    • Macroeconomic updates include: Italy Apr industrial production, UK Apr unemployment rate, May retail sales monitor - BRC, Switzerland May consumer confidence - SECO, Eurozone Jun Sentix economic index, Norway May CPI, PPI, Sweden Apr industrial production, Denmark May CPI, Netherlands Apr manufacturing production, Finland Apr industrial production, Austria Apr industrial production, Greece May CPI, Apr industrial production

    • Amongst the limited corporate news flow, Puuilo (PUUILO.FH) posted Q1 earnings and confirmed its FY guidance. Fabasoft (FAA.GR) reported FY earnings and proposed a dividend of €0.10/share. Also in the DACH region, Molecular Partners (MOLN.SW) to reduce its current workforce by a potential of ~24% of all positions; cash runway to extend into 2028; maintains its previously announced timelines. In other developments, Parvus Asset Management reportedly building a stake in Novo Nordisk (NOVO.B.DC).

    • CMD/events: BNP Paribas (BNP.FP) deep dive personal finance, Orange (ORA.FP) business update call, Elekta (EKTA.B.SS), Kojamo (KOJAMO.FH) Nordea mid Q update day.

  • Politics/Macro/World News

    • US-China trade talks to resume for a second day - Reuters

    • France's Macron doesn't rule out calling snap elections again - Bloomberg

    • UK Total retail sales increased by 1% year on year in May, against growth of 0.7% in May 2024 - BRC

    • Polish government plays down nationalist election win ahead of no-confidence vote - FT

    • Netherlands Apr Manufacturing Production (1.0%) m/m vs consensus +0.7% and prior revised +0.5% from (0.6%)

  • Top company news

    • Earnings/updates

      • FAA.GR (Fabasoft) -- reports FY EPS €0.80 vs FactSet €0.85 [1 est]

      • PUUILO.FH (Puuilo) -- reports Q1 EPS €0.09 vs FactSet €0.08 [5 est, €0.07-0.09]; confirms FY guidance

    • M&A

      • DGE.LN (Diageo) -- exploring sale of part or all of Indian Premier League cricket franchise Royal Challengers Bengaluru - Bloomberg

      • CRAYN.NO (Crayon Group Holding) -- SoftwareOne Holding announces closing conditions and settlement notification under the voluntary offer in Crayon Group Holding ASA

      • BLC.FP (Bastide Le Confort Medical) -- announces disposal of Cicadum and Medsoft

      • NOVO.B.DC (Novo Nordisk) -- Parvus Asset Management building a stake in Novo Nordisk -- FT

      • TKTT.FP (Tarkett) -- Tarkett Participation updates on the squeeze out procedure

    • Healthcare

      • MRK.GR (Merck KGaA) -- NMPA's CDE accepts Merck KGaA's application for MA of pimicotinib to treat TGCT

      • EKTA.B.SS (Elekta) -- appoints Jakob Just-Bomholt as new President and CEO; effective 5-Sep

      • MOLN.SW (Molecular Partners) -- to reduce its current workforce by a potential of ~24% of all positions; cash runway to extend into 2028; maintains its previously announced timelines

      • XBRANE.SS (Xbrane Biopharma) -- upsized SEK240M directed share issue priced at SEK0.23/sh through Pareto Securities, pending EGM approval

    • Other

      • BATS.LN (British American Tobacco) -- preparing to commence search for new chairman - Sky News

      • MBTN.SW (Meyer Burger Technology) -- notes deadline to publish 2024 Annual Report extended to end of July 2025; shares remain suspended

      • TKTT.FP (Tarkett) -- announces new circular solution to recycle carpet into sports products

  • Key rating changes

    • Upgrades

      • ABDN.LN (Aberdeen Group) -- to overweight from neutral at JPMorgan

      • UMI.BB (Umicore) -- to buy from neutral at Goldman Sachs

    • Downgrades

      • MRL.LN (Marlowe) -- to sector perform from outperform at RBC Capital Markets

    • Initiations

      • SLP.LN (Sylvania Platinum) -- buy at Berenberg

      • TECN.SW (Tecan Group) -- buy at Berenberg

  • Data

    • Nikkei +0.77% to 38383.39

    • Hang Seng (0.36%) to 24093.97

    • Shanghai Composite (0.61%) to 3379.11

    • S&P futures +1.3 vs prior close of 6010.3

    • €-$ (0.0011) or (0.10%) to 1.1410

    • $-¥ (0.11) or (0.08%) to 144.49

    • €-¥ (0.25) or (0.15%) to 164.88

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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