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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.46%), DAX (0.81%), CAC (0.20%)

Jun 12 ,2025

  • Synopsis

    • European equity markets are set to open lower amidst Asian equities mixed Thursday. Hang Seng leading China market declines amid tech pullback. Japan and Taiwan also weaker while Korea extending gains to highest since Jan-2022. S&P 500 futures declining afterhours. Bonds firming with Treasury and JGB yields lower across the curve. Dollar continuing to weaken against majors. Crude pulling back from earlier highs amid ramp in Middle East tensions. Gold adding to overnight gains. Bitcoin little changed following earlier pullback.

    • On today's agenda, in Germany, at 9:30CET The Kiel Institute publishes its Summer Economic Forecast, whilst at 10:30 Ifo Institute press conf on the publication of the Summer 2025 economic forecast. Other political events include Italian PM Meloni meeting Nato Secretary General Rutte whilst in Denmark, Folkemødet festival takes place (through Sun, agenda) and includes Rasmussen Global events. Denmark central bank's Thomsen speaks at 11:30CET and also at the same time on Fri. EU's Tzitzikostas speech at "Greece 2025-2030" Conf. International Energy Agency Conf on energy efficiency kicks off (through Fri).

    • In central banks, Estonia central bank's Müller presents the bank's annual report to the plenary session of the Estonianparliament at 9:00CET. Bank of Spain's Escrivá speech at 9:00CET at conf on financial stability, other speakers includes Netherland central bank's Knot 9:15. Also, ECB's Schnabel speech at 11:15CET at the House of the Euro and ECB's de Guindos speech at 14:00CET at the annual joint conf of the EU Commission and the ECB, whilst Schnabel moderates a panel at 14:20. Central Banking Summer Meetings, ECB's McCaul chairs panel 11:15 and speech 13:45, Czech National Bank Michl and Croatian National Bank's Vujčić panellist at 15:40. ECB's Elderson speech at 16:15CET at the IMF-WB annual high-level Conf for Senior Supervisors. Bank of Latvia's Krasovska participates in a conf on blockchain and crypto assets in Barcelona. Tentative date for next Serbia central bank executive board meeting.

    • Macroeconomic data include: UK Apr construction output, industrial/manufacturing production, trade balance, May house price balance - RICS, monthly GDP tracker - NIESR, Portugal May final CPI, Ireland May CPI, Netherlands May final CPI

    • In corporate news, Prosus (PRX.NA) issued a trading update yesterday after the close. Meanwhile, BE Semiconductor Industries N.V (BESI.NA) raised its revenue, gross margin and operating margin targets. Also this morning, Zalaris (ZAL.NO) announced conclusion of its strategic review and reaffirmed NOK 2B revenue target. In the UK, Tesco (TSCO.LN) is expected to release its latest trading update.

    • CMD/events: BE Semiconductor Industries (BESI.NA), Frequentis (FQT.GR), Nekkar (NKR.NO), AKVA Group (AKVA.NO)

  • Politics/Macro/World News

    • UK May house price balance (8%) vs consensus (3%) and prior (3%) - RICS

    • French central bank trims growth outlook on trade tensions - Reuters

    • Why Italy will struggle to meet Nato's higher defence spending target - FT

    • US orders partial evacuation from Middle East amid concerns of Israeli strike on Iran - Bloomberg

    • Trump says US will dictate trade deal terms in coming weeks, open to extending deadline - Bloomberg

  • Top company news

    • Earnings/updates

      • PRX.NA (Prosus) -- provides trading update

      • CLAS.B.SS (Clas Ohlson) -- reports Q4 EPS SEK1.26 vs FactSet SEK1.01 [2 est, SEK0.91-1.11]

      • BESI.NA (BE Semiconductor Industries N.V) -- raises revenue, gross margin and operating margin targets -- CMD

    • M&A

      • GRF.SM (Grifols) -- successfully completes Biotest delisting

      • INPST.NA (InPost) -- notes English High Court dismissed the motion for an injunction against Yodel brought by previous owner Jacob Corlett and his businesses

      • EUROB.GA (Eurobank Ergasias Services & Holdings) -- Eurobank completes squeeze out of remaining shares of Hellenic Bank

      • CVC.NA (CVC Capital Partners) -- EU sets a provisional deadline of 15-Jul to rule on CVC's acquisition of 49% of VNG's BALANCE Erneuerbare Energien

      • PEUG.FP (Peugeot Invest) -- EU sets a provisional deadline of 15-Jul to rule on Peugeot Invest's acquisition of stake in BroadStreet Partners

    • Healthcare

      • NOVO.B.DC (Novo Nordisk) -- Deep Apple Therapeutics (private) announces obesity drug research collaboration worth up to $812M with Novo Nordisk

      • UCB.BB (UCB) -- and Biogen presented additional detailed results from the Phase 3 PHOENYCS GO study evaluating dapirolizumab pegol (DZP), a novel Fc-free anti-CD40L drug candidate

      • MOLN.SW (Molecular Partners) -- presents updated data from ongoing Phase 1/2a trial of MP0533 in AML at EHA 2025

      • OXUR.BB (Oxurion) -- has been notified that Atlas Special Opportunities II LLC holds 2,340,268 shares in as of 5-Jun

      • NANOFH.FH (Nanoform Finland) -- starts human bioequivalence studies of nanoenzalutamide

    • Other

      • NESN.SW (Nestle) -- releases Nescafé Plan 2030 progress report; surpassed 2025 regenerative ag goal

      • BB.FP (Bic) -- appoints Rob Versloot as CEO, effective 15-Sept-25

  • Key rating changes

    • Upgrades

      • EDPR.PL (EDP Renovaveis) -- to buy from hold at HSBC

      • ADP.FP (Aeroport de Paris) -- to overweight from equal weight at Barclay

      • FHZN.SW (Flughafen Zuerich) -- to overweight from equal weight at Barclay

    • Downgrades

      • AKRBP.NO (Aker BP) -- to sell from neutral at Goldman Sachs

      • AENA.SM (Aena S.M.E.) -- to equal weight from overweight

      • AIA.GA (Athens International Airport) -- downgraded to equal weight from overweight

      • ERA.FP (Eramet) -- to hold from buy at Kepler Cheuvreux

  • Data

    • Nikkei (0.58%) to 38200.03

    • Hang Seng (0.75%) to 24183.62

    • Shanghai Composite +0.02% to 3402.86

    • S&P futures (14.5) vs prior close of 6029.0

    • €-$ +0.0037 or +0.32% to 1.1525

    • $-¥ (0.76) or (0.53%) to 143.83

    • €-¥ (0.33) or (0.20%) to 165.76

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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