Leaving BNY Website

 

You are leaving the BNY Mellon's Depositary Receipts' Website.
Linked sites are not under the control of The Bank of New York Mellon Corporation or any of its subsidiaries or affiliates (together, the "Company") and the Company is not responsible for the content of any linked site or any link contained in a linked site. If you choose to link to a website not controlled by the Company, you do so entirely at your own risk and the Company makes no warranties, either express or implied, concerning the content of such site, including the accuracy, completeness, reliability or suitability thereof for any particular purpose, nor does the Company warrant that such site or content is free from any claims of copyright, trademark or other infringement of the rights of third parties or that such site or content is devoid of viruses or other contamination. The Company does not guarantee the authenticity of documents on the Internet. Links to other sites do not imply any endorsement of or responsibility for the opinions, ideas, products, information or services offered at such sites, or any representation regarding the content at such sites. The Company reserves the right to terminate any link at any time.

Do you wish to continue to the linked site on these terms?

Stay On Page
Leave Page

© 2025 The Bank of New York Mellon Corporation

Depositary Receipt business and services are conducted through The Bank of New York Mellon.

BNY - DR Legal Disclaimer
  

To learn more about DRs, please contact DRBrokerSolutions@bny.com.

 

The information and data provided herein are provided for general informational purposes only.  BNY does not warrant or guarantee the accuracy, timeliness or completeness of any such information or data.  BNY does not undertake any obligation to update or amend any information or data, and may change, update or amend any information or data at any time without prior notice.

 

BNY provides no advice, recommendation or endorsement with respect to any company or securities.  No information or data is intended to provide legal, tax, accounting, investment, financial, trading or other advice on any matter, and is not to be used as such.  We expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon any information or data, including market value loss on the sale or purchase of securities or other instruments or obligations.

 

Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.

 

BNY collects fees from DR holders pursuant to the terms and conditions of the DRs and any deposit agreement under which they are issued.  From time to time, BNY may make payments to an issuer to reimburse and/or share revenue from the fees collected from DR holders, or waive fees and expenses to an issuer for services provided, generally related to costs and expenses arising out of establishment and maintenance of the DR program.  BNY may pay a rebate to brokers in connection with unsponsored DR issuances; brokers may or may not disclose or pass back some or all of such rebate to the DR investor.  BNY may also use brokers, dealers or other service providers that are affiliates and that may earn or share fees and commissions.

 

BNY may execute DR foreign currency transactions itself or through its affiliates, or the Custodian or the underlying Company may execute foreign currency transactions and pay US dollars to BNY.  In those instances where it executes DR foreign currency transactions itself or through its affiliates, BNY acts as principal counterparty and not as agent, advisor, broker or fiduciary.  In such cases, BNY  has no obligation to obtain the most favorable exchange rate, makes no representation that the rate is a favorable rate and will not be liable for any direct or indirect losses associated with the rate. BNY earns and retains revenue on its executed foreign currency transactions based on, among other things, the difference between the rate it assigns to the transaction and the rate that it pays and receives for purchases and sales of currencies when buying or selling foreign currency for its own account.  The methodology used by BNY to determine DR conversion rates is available to registered Owners upon request or can be accessed here.  In those instances where BNY's Custodian executes DR foreign currency transactions, the Custodian has no obligation to obtain the most favorable exchange rate or that the method by which the rate will be determined will be the most favorable rate, and BNY makes no representation that the rate is a favorable rate and will not be liable for any direct or indirect losses associated with the rate.  In certain instances, BNY may receive dividends and other distributions from an issuer of securities underlying DRs in U.S. dollars rather than in a foreign currency.  In such cases, BNY will not engage in or be responsible for any foreign currency transactions and it makes no representation that the rate obtained by an issuer is a favorable rate and it will not be liable for any direct or indirect losses associated with the rate.

 

BNY is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle.  BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).

 

BNY's name, brand and/or trademarks may not be used, copied or reproduced without the prior express written consent of BNY.

 

DEPOSITARY RECEIPTS ARE NOT INSURED BY THE FDIC OR ANY OTHER GOVERNMENT AGENCY, ARE NOT DEPOSITS OR OTHER OBLIGATIONS OF, AND ARE NOT GUARANTEED BY, BNY AND ARE SUBJECT TO INVESTMENT RISKS INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED.

 

Please also see "Terms of Use."

ACCEPT

Please enable cookies in your browser if you wish to proceed.

Regulation S Disclaimer

 

Access To This Company Profile Is Restricted To Non-U.S. Persons Outside The United States Within The Meaning Of Regulation S Under The U.S. Securities Act Of 1933, As Amended (The "Securities Act").1

 

This company profile does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction or under any circumstances in which such offer or solicitation is unlawful.

 

Each person accessing this company profile, by so doing, will be deemed to have acknowledged that: (1) It is not a U.S. person (within the meaning of Regulation S under the Securities Act) and is located outside the U.S. (within the meaning of Regulation S under the Securities Act); and (2) Any securities described herein (A) have not been and will not be registered under the Securities Act or with any securities regulatory authority of any state or other jurisdiction and (B) may not be offered, sold, pledged or otherwise transferred except to persons outside the U.S. in accordance with Regulation S under the Securities Act pursuant to the terms of such securities.

 

If you agree with and accept the foregoing and the Terms of use governing this site, please select "Accept" below. Otherwise, press "Decline" to return to the previous page.

 

1 As defined in the Securities Act, the term "U.S Person" means: (1) any natural person resident in the United States; (2) any partnership or corporation organized or incorporated under the laws of the United States; (3) any estate of which any executor or administrator is a U.S. person; (4) any trust of which any trustee is a U.S. person; (5) any agency or branch of a foreign entity located in the United States; (6) any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. person; (7) any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and (8) any partnership or corporation if: (A) organized or incorporated under the laws of any foreign jurisdiction; and (B) formed by a U.S. person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a)) who are not natural persons, estates or trusts.

I Accept Decline

© 2024 The Bank of New York Mellon Corporation
Depositary Receipt business and services are conducted through The Bank of New York Mellon.

Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.46%) to 8834.03, DAX (1.12%) to 23434.65, CAC40 (0.76%) to 7683.73, STOXX 600 (0.85%) to 542.26

Jun 17 ,2025

  • Synopsis:

    • European indices ended in negative territory, except for Norway. In macro-news, German investor sentiment jumped significantly in Jun, with ZEW sentiment index reaching 47.5 points versus May's 25.2 points and consensus 35.0. ZEW President Wambach noted increasing confidence, attributing surge to recently announced government fiscal measures and ECB's rate cuts. Factors could potentially end Germany's prolonged economic stagnation. Current conditions index also improved substantially, rising to -72.0 points from -82.0 points in May and consensus -75.0. Comes as analysts increasingly expect Germany to return to growth in 2025 after two consecutive years of contraction, with some forecasting GDP expansion between 1.2% and 1.6% driven by increased defense and infrastructure spending. In trade related news, EU decided to cancel high-level economic dialogue with China ahead of next month's leaders' summit. Reflects deeper structural challenges limiting bilateral cooperation, according to Goldman Sachs. While Brussels cited lack of progress on trade disputes-including EV tariffs, Chinese anti-dumping duties on EU brandy, and ongoing investigations into pork and dairy products-broker identified three fundamental barriers to enhanced EU-China economic partnership. First, China now competes directly in sectors where Europe traditionally held comparative advantage, representing over 25% of total EU exports. Second, import dependence has reached historic levels, with EU trade deficit with China hitting ~2% of GDP. European reliance on Chinese imports has expanded beyond low-skill sectors into medium-skill manufacturing like rubber and plastics. Third, investment patterns show diverging priorities. While EU direct investment in China has fallen materially since 2022, Chinese investment continues flowing into Eastern Europe, particularly the automotive sector, despite EU tariffs on electric vehicles. In the UK, Chancellor Reeves may reverse inheritance tax changes on non-doms for assets held around the world to create a more stable tax environment for businesses and wealth creators. Sources close to the Treasury have said Reeves is responding to the spate of reported departures from the UK and lobbying by the City of London. Furthermore, European renewable energy companies under pressure following US Senate Finance Committee's proposal to accelerate phase-out of wind and solar tax credits under President Trump's comprehensive tax reform package. Proposed legislation would eliminate Investment Tax Credits (ITC) for solar and wind projects by 2028, one year earlier than previous House version. Phase-out schedule includes reductions to 60% in 2026 and 20% in 2027 before complete elimination. Analysts note Senate amendments more punitive than market expectations, creating regulatory uncertainty that particularly impacts companies with significant US operations. While some positive changes were included-such as extended credits for hydropower, nuclear, and geothermal facilities until 2033-aggressive solar and wind credit elimination overshadowed benefits, highlighting interconnected nature of global renewable energy markets. German solar component supplier S92.GR, Danish offshore wind developer ORSTED.DC, wind turbine manufacturers NDX1.GR and VWS.DC, EDPR.PL amongst most affected names.

    • On the reporting front, out of the UK, Informa (INF.LN) released its AGM trading update, with Ashtead Group (AHT.LN), RWS Holdings (RWS.LN), Capita Plc (CPI.LN) and Legal & General Group Plc (LGEN.LN) also updating investors before the open. In the DACHs region, Flughafen Wien (FLU.AV) reported passenger traffic number whilst 0 in the Nordics - Bakkafrost (BAKKA.NO) guided 2030 total harvest volume. In M&A news, Banco de Sabadell (SAB.SM) confirmed it has received a non-binding expression of interest for the acquisition of TSB Banking Group; Neinor Homes (HOME.SM) announced a fully-backed €1.07B tender offer for the acquisition of AEDAS (AEDAS.SM), Nordic Semiconductor (NOD.NO) acquired Neuton.AI and Colruyt (COLR.BB) entered into a put option agreement with Groupement Mousquetaires for contemplated sale of 81 stores of its French integrated retail activities for a total cash consideration of ~€215M. In other notable corporate developments, Asos (ASC.LN) appointed a new CFO. In syndicate updates, there were placements for Lottomatica (LTMC.IM), Amadeus IT Group (AMS.SM), Corbion (CRBN.NA) and Universal Music Group (UMG.NA)

    • Looking ahead to tomorrow's earnings calendar, Biovica International (BIOVIC.B.SS), AO World (AO.LN), Speedy Hire (SDY.LN), Oxford Metrics (OMG.LN) and S&U (SUS.LN) are expected to update their investors, whilst Givaudan (GIVN.SW), Kromek Group (KMK.LN) and Teleperformance (TEP.FP) are hosting CMDs

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers: Oil & Gas +1.18%, Real Estate +0.55%, Chemicals (0.21%), Food & Beverage (0.36%), Utilities (0.40%), Ind Goods & Svcs (0.57%), Persnl & HHold Goods (0.76%)

      • Underperformers: Banks (1.91%), Media (1.85%), Travel & Leisure (1.79%), Retail (1.37%), Health Care (1.28%), Basic Resources (1.17%), Telecom (1.13%), Financial Svcs (1.01%), Construct & Mtls (0.95%), Insurance (0.93%), Autos & Parts (0.91%), Technology (0.86%)

    • Macro:

      • German Chancellor Merz: Expect Deal With US In Tariff Dispute Before Summer Is Over - ARD

      • US-UK trade deal will leave Starmer 'relieved' (Sky News)

      • Trump slams 'publicity seeking' Macron as US president leaves G7 early (Politico)

      • Row erupts between France and Germany over next-generation fighter jet (Telegraph)

      • Russia Watches Israel-Iran Crisis With Few Tools to Intervene (BBG)

      • Ukraine's Zelenskiy to seek G7 support as Trump's early exit puts dampener on summit (Reuters)

      • PM Meloni meets Trump, stresses need for EU-US trade deal (Ansa)

      • EU:

        • weighs carbon tax on home heating and petrol to fill budget gaps (FT)

        • wants to ease securitisation rules to boost lending to economy (Reuters)

    • Company news:

      • Notable Gainers

        • +17.1% ATORX.SS (Alligator Bioscience SEK5.00, +0.72) -- receives positive scientific advice from EMA on Phase 3 trial of mitazalimab

        • +15.8% HOME.SM (Neinor Homes €16.30, +2.16) -- AEDAS Homes' board will issue the report expressing its opinion on company' offer at the appropriate time; Santander and CaixaBank upgrades

        • +14.6% MGNS.LN (Morgan Sindall Group £44.30, +5.60) -- issues trading update and FY25 outlook

        • +11.9% ITM.LN (ITM Power £0.79, +0.09) -- selected for large-scale green hydrogen project in the UK

        • +9.8% ISOFOL.SS (Isofol Medical SEK1.18, +0.10) -- publishes prospectus in connection with the company's rights issue

        • +7.8% OCN.LN (Ocean Wilsons Holdings £15.85, +1.15) -- launches up to £123M tender offer for up to 7.1M shares

        • +7.7% RWS.LN (RWS Holdings £0.86, +0.07) -- H1 earnings

        • +6.7% ORON.SW (ORIOR CHF14.20, +0.88) -- restructuring update

        • +4.8% HCO.FP (HighCo €3.71, +0.17) -- announces exclusive negotiations with SMP SAS, subsidiary of Groupe La Poste, over acquisition of certain businesses offering promotional marketing solutions

        • +4.5% LEON.SW (Leonteq CHF17.52, +0.76) -- becomes exclusive market maker for all ETPs listed on BX Swiss

        • +2.9% BME.LN (B&M European Value Retail £2.63, +0.07) -- CEO acquires 197,900 shares for ~£524K

        • +2.7% ALVU.FP (Vente-Unique.com €11.40, +0.30) -- H1 earnings

        • +2.2% ODL.NO (Odfjell Drilling NOK70.60, +1.50) -- completes the Deepsea Aberdeen's special periodic survey

        • +2.1% RECSI.NO (REC Silicon NOK2.13, +0.04) -- extension of $50M facility loan; provides update on financial position

        • +2.1% TKA.GR (ThyssenKrupp €8.73, +0.18)

        • +0.1% IBE.SM (Iberdrola €16.24, +0.01) -- considering taking its subsidiary Neoenergia in Brazil private -- Veja

      • Notable Decliners

        • -11.6% BUR.LN (Burford Capital £8.59, -1.08) -- issues statement in connection with proposed tax provisions relating to litigation finance included within the US Senate's draft of the budget reconciliation bill as released late yesterday

        • -9.4% W7L.LN (Warpaint London £4.03, -0.42) -- H1 trading update

        • -8.6% AEDAS.SM (AEDAS Homes €24.65, -2.35) -- board will issue the report expressing its opinion on Neinor Homes' offer at the appropriate time; Santander and CaixaBank downgrades

        • -7.2% S92.GR (SMA Solar Technology €18.59, -1.41) -- sector move

        • -6.7% DETEC.FH (Detection Technology €11.05, -0.80) -- lowers its net sales guidance for Q2 due to postponement of security X-ray system deployments in the EMEIA region

        • -5.7% ALZCUR.SS (AlzeCure Pharma SEK2.62, -0.16) -- right issue update

        • -5.1% CRBN.NA (Corbion €19.21, -1.02) -- Goldman Sachs placing 1.9M Corbion shares -- market sources, citing termsheet

        • -4.4% FME.GR (Fresenius Medical Care €47.35, -2.18) -- to repurchase shares worth up to €1B

        • -3.8% COLR.BB (Colruyt Group €38.08, -1.52) -- enters into put option agreement with Groupement Mousquetaires for contemplated sale of 81 stores of its French integrated retail activities for ~€215M

        • -3.5% FYB.GR (Formycon €26.50, -0.95)

        • -3.3% UCG.IM (UniCredit €56.50, -1.91)

        • -2.8% SAN.SM (Banco Santander €6.96, -0.20)

        • -2.7% AMS.SM (Amadeus IT Group €70.00, -1.94) -- Goldman Sachs offers ~5.7M Amadeus IT Group shares at €70.61/share -- market sources, citing termsheet

        • -2.7% WPP.LN (WPP Group £5.31, -0.15) -- US pharma adds crackdown

        • -2.6% NAS.NO (Norwegian Air Shuttle NOK12.88, -0.34) -- agrees to purchase 11 LEAP-1B spare engines from CFM International

        • -2.0% DTE.GR (Deutsche Telekom €30.45, -0.62) -- Softbank sells 21.5M T-Mobile US shares at $224/sh - Reuters

        • -2.0% PUB.FP (Publicis Groupe €95.54, -1.98) -- US pharma adds crackdown

        • -1.9% BAYN.GR (Bayer AG €27.07, -0.52) -- submits New Drug Application to FDA for gadoquatrane in the US

        • -1.9% ORSTED.DC (Ørsted DKK275.90, -5.30) -- sector move

        • -1.8% LDO.IM (Leonardo €48.48, -0.88) -- company and Bombardier Defense sign MoU to assess and target new opportunities in the global maritime MMA market

        • -1.5% RHM.GR (Rheinmetall €1,748.00, -27.00)

        • -1.4% BBVA.SM (Banco Bilbao Vizcaya Argentaria €13.02, -0.18) -- Banco de Sabadell reportedly exploring sale of British banking unit TSB as part of efforts to fend off hostile bid from BBVA -- Reuters

        • -1.3% FLS.DC (FLSmidth & Co. DKK393.60, -5.00) -- signs agreement to sell its corporate headquarters for a total net cash gain of DKK 730M; accounting gain amounts to ~DKK 690M

        • -1.0% HOT.GR (Hochtief €157.60, -1.60)

    • EU companies reporting tomorrow:

      • Nordics: Biovica International (BIOVIC.B.SS)

      • UK: AO World (AO.LN), Speedy Hire (SDY.LN), Oxford Metrics (OMG.LN)

      • Trading Update: S&U (SUS.LN)

      • CMD/events: Givaudan (GIVN.SW), Kromek Group (KMK.LN), Teleperformance (TEP.FP)

  • Data:

    • Economics:

      • Germany Jun ZEW Economic Sentiment Indicator 47.5 vs consensus 34.8 and prior 25.2

      • Sweden May Unemployment Rate 9.7% vs consensus 8.7% and prior 8.9%

    • Markets:

      • WTI Crude (Jul 25): +$2.01 or +2.80% to $73.78

      • €-$ (0.0034) or (0.29%) to 1.1527

      • £-$ (0.0067) or (0.49%) to 1.3510

      • €-£ +0.0019 to 0.8534

      • S&P 500 (0.32%)

      • Performance year-to-date

        • FTSE 100: +8.09%

        • DAX: +17.71%

        • CAC: +4.11%

        • MIB: +15.21%

        • Stoxx 600: +6.82%

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".

DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE