Jun 13 ,2025
Synopsis
European indices are set to open lower following reports Iran began its retaliation against Israel with drones.
Asian equities weaker Friday with markets on backfoot amid ramp in Middle East tensions. Broad declines on regional benchmarks with Japan, Korea and Taiwan seeing biggest losses. S&P 500 and Nasdaq futures down 1-2% afterhours.
Israel launched series of airstrikes on Iran late Thursday under operation 'Rising Lion', targeting nuclear sites including main enrichment facility in Natanz, nuclear scientists, country's ballistic missile program, and military commanders with IRGC head Hossein Salami killed
In central banks, ECB's Montagner speech at 13:45CET at "Pan-European Conglomerate Club" meeting, whilst Elderson panellist at 17:00 at IMF-WB annual high-level Conf. EU home affair ministers meet. In Germany, DIW press briefing at 9:30CET on Institute's latest economic forecast. Paris Air Forum, speakers to include Airbus (AIR.FP) CEO Faury. Sentia (SNTIA.NO) stock market debut on Oslo Stock Exchange.
Economic: Germany May final CPI, France May final CPI, Spain final May CPI, Italy Apr trade balance, Eurozone Apr industrial production, trade balance, Finland May final CPI
In corporate news: Fraport (FRA.GR) reports May Frankfurt Airport traffic statistics: passengers 5.6M, +1.8 y/y. Kesko (KESKO.B.FH) reports May sales €1.10B, (2.1%) in comparable terms
Politics/Macro/World News
Top company news
Earnings/updates
FRA.GR (Fraport) -- reports May Frankfurt Airport traffic statistics: passengers 5.6M, +1.8 y/y
FHZN.SW (Flughafen Zuerich) -- reports May traffic statistics
KESKOB.FH (Kesko) -- reports May sales €1.10B, (2.1%) in comparable terms
SIGHT.FP (GenSight Biologics) -- reaches an agreement with the ANSM for the opening of LUMEVOQ's Compassionate Access Program in France; provides regulatory, marketing, financial updates
FSKRS.FH (Fiskars) -- lowers FY25 comparable EBIT guidance
M&A
NORCO.NO (Norconsult) -- acquires the Aas-Jakobsen Group based on EV of NOK1.43B
ACA.FP (Credit Agricole) -- announces acquisition of majority stake in COMWATT; price undisclosed
G.IM (Assicurazioni Generali) -- Banca Generali confirms it has started process of duly evaluating Mediobanca acquisition proposal
PROX.BB (Proximus) -- completes sale of mobile tower infrastructure in Luxembourg to InfraRed Capital Partners
PHXM.FP (Phaxiam Therapeutics) -- announces judicial liquidation and delisting
VIMIAN.SS (Vimian Group) -- acquires AllAccem Inc, a leading provider of a veterinary dental sealant product in the US; price undisclosed
Healthcare
NOVO.B.DC (Novo Nordisk) -- to advance subcutaneous and oral amycretin for weight management into phase 3 clinical development
GLPG.NA (Galapagos) -- to present new ATALANTA-1 CAR-T data at EHA 2025; highlights low toxicity and rapid, decentralized delivery of fresh, early-memory-enriched GLPG5101 in R/R NHL
UCB.BB (UCB) -- announces major U.S. investment to expand Biologics manufacturing capacity
IPH.FP (Innate Pharma) -- Highlights Preclinical Antitumor Activity of IPH6501 in Diffuse Large B-Cell Lymphoma and Follicular Lymphoma at the 2025 European Hematology Association (EHA) Congress
CAMX.SS (Camurus) -- Sandberg Development AB initiates accelerated bookbuilding process for sale of shares in Camurus AB, worth ~ SEK 1.3B through ABG Sundal Collier and Skandinaviska Enskilda Banken AB
Other
BA.LN (BAE Systems) -- awarded $155.9M US Navy contract
BNP.FP (BNP Paribas) -- receives notification of MREL requirements
Key rating changes
Upgrades
DEMANT.DC (Demant) -- to outperform from market perform at Bernstein
INTRUM.SS (Intrum) -- to neutral from underweight at JPMorgan
Downgrades
SOI.FP (SOITEC) -- to hold from buy at Jefferies
MTO.LN (Mitie Group) -- to hold from buy at Jefferies
AQ.SS (AQ Group) -- to hold from buy at Pareto
Data
Nikkei (1.11%) to 37749.55
Hang Seng (0.88%) to 23822.87
Shanghai Composite (0.80%) to 3375.34
S&P futures (93.0) vs prior close of 6049.5
€-$ (0.0053) or (0.46%) to 1.1533
$-¥ +0.04 or +0.03% to 143.53
€-¥ (0.74) or (0.45%) to 165.49
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