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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE +0.00%, DAX (0.40%), CAC40 (0.15%)

Jul 16 ,2025

  • Synopsis

    • European equity markets are set for a mixed to lower open amidst mixed Asia equities Wednesday. Hong Kong paring gains with mainland China remaining mixed. Japan, Australia and South Korea softer. US futures lower following mixed cash performance in S&P 500 and Nasdaq with breadth notably weak.

    • Bundesbank publishes its latest monthly report at 12noon CET whilst BOE's Benjamin speech at 13:30BST at OMFIF Economic and Monetary Policy Institute. Bank of Italy's Scotti panellist at 17:15CET at event hosted by Bank of Italy and EIEF. Bank of France's Villeroy speaks at presentation of Bank's annual report on regulated savings. There's an informal meeting of research ministers and ministers for internal market and industry (through Fri).

    • In UK, there's weekly PMQs at 12noon BST, whilst committee topics include airport expansion and climate and nature targets at 9:15 the same time as rail investment pipelines (government minister), work of the Dept for Work and Pensions (government minister) at 9:30, work of the Financial Conduct Authority (FCA) at 10:15 and UK's future relationship with the US at 11:30. UK Space Conf. (through Thu).

    • Macro data due include UK Jun CPI, Italy Jun final CPI, May trade balance and Eurozone May trade balance.

    • In earnings, ASML Holding (ASML.NA), Renault (RNO.FP), FUCHS (FPE3.GR), SEB (SEB.A.SS), Handelsbanken (SHB.A.SS) and Alm. Brand (ALMB.DC) reported latest results whilst Richemont (CFR.SW) is out with Q1 sales and Rio Tinto (RIO.LN) with Q2 production

  • Macro

    • UK Government to Set Up IPO Taskforce in Bid to Attract Listings - Bloomberg

    • UK finance minister unveils sweeping reforms to boost financial sector growth (Reuters)

    • EU proposes safeguards to win France's support for Mercosur trade deal (FT)

    • Marine Le Pen threatens to topple French government over budget cuts (Politico)

  • Top company news

    • Earnings/updates

      • Benelux:

        • ASML.NA (ASML Holding) -- reports Q2 EPS €5.90 vs consensus €5.24; guides Q3 and FY25

        • NSI.NA (NSI) -- reports H1 EPRA EPS €0.99 vs year-ago €0.91

      • DACHs:

        • CFR.SW (Richemont) -- reports Q1 sales €5.41B vs StreetAccount €5.43B

        • PGHN.SW (Partners Group Holding) -- reports solid AuM development in H1 and reconfirms FY25 guidance

        • FPE3.GR (FUCHS SE) -- reports preliminary H1 EBIT €209.0M vs year-ago €218.0M; lowers FY25 guidance

      • France:

        • RNO.FP (Renault) -- reports preliminary H1 revenue €27.60B vs FactSet €27.58B [5 est, €27.34-27.76B]; lowers FY25 guidance

      • Nordics:

        • SHB.A.SS (Svenska Handelsbanken) -- reports Q2 EPS SEK2.77 vs FactSet SEK2.97

        • SEB.A.SS (Skandinaviska Enskilda Banken) -- reports Q2 EPS SEK4.08 vs consensus SEK3.80

        • NEL.NO (NEL ASA) -- reports Q2 EPS (NOK0.07) vs FactSet (NOK0.08) [6 est, (NOK0.10)-(0.06)]

        • BAKKA.NO (Bakkafrost) -- reports preliminary Q2 operational EBIT of ~ DKK 65M

        • ATEA.NO (Atea) -- reports Q2 net income NOK157M vs FactSet NOK196.5M [4 est, NOK175.1-210M]

        • AKER.NO (Aker ASA) -- reports Q2 NAVPS NOK895, +4% vs year-ago NOK860

        • ENEA.SS (Enea) -- reports Q2 net income (SEK8.6M) vs FactSet SEK6M [1 est]; reaffirms FY guidance

        • MIPS.SS (MIPS) -- reports Q2 EPS SEK1.20 vs FactSet SEK1.22 [6 est, SEK0.99-1.34]

        • ALMB.DC (Alm. Brand) -- reports Q2 EPS DKK0.20 vs FactSet DKK0.26 [5 est, DKK0.20-0.30]; raises pre-tax profit guidance ex-items by DKK100M to DKK1.73-1.93B

      • UK:

        • RIO.LN (Rio Tinto) -- Q2 Pilbara iron ore production (100% basis) 83.7Mt vs StreetAccount 81.6Mt

    • M&A

      • BPSO.IM (Banca Popolare di Sondrio) -- BPER Banca announces final result of offer to acquire Banca Popolare di Sondrio confirms provisional results (post EU close 15-Jul)

      • ELPE.GA (HELLENiQ ENERGY Holdings) -- completes the acquisition of 50% of Elpedison B.V. (post EU close 15-Jul)

      • AAL.LN (Anglo American) -- Nippon and Mitsui expected to assist Peabody Energy in acquiring Anglo American's Queensland coal mines -- The Australian

      • DCC.LN (DCC) -- EU sets a provisional deadline of 21-Aug to rule on Investindustrial's acquisition of DCC Healthcare

      • DWL.LN (Dowlais Group Plc) -- American Axle (AXL) shareholders approve proposed combination with Dowlais Group

      • CPU.AU (Computershare) -- reportedly among suitors for PrimaryBid - Sky News

      • ELN.IM (El.En.) -- completes the sale of majority stake in Penta Laser Zhejiang Co., Ltd to Yangtze Optical Fibre and Cable (post EU close 15-Jul)

      • BRKN.SW (Burkhalter Holding) -- acquires Gattiker Elektro; price undisclosed

    • Healthcare

      • SAN.FP (Sanofi) -- FDA grants fast track designation to Sanofi's SAR446597

      • SOBI.SS (Swedish Orphan Biovitrum) -- to repurchase all class C shares

      • ALBPS.FP (Biophytis) -- receives favorable ruling from the French Court of Cassation in its legal dispute with Negma Group

      • 532523.IN (Biocon) -- FDA approves Biocon Biologics' Kirsty (insulin aspart-xjhz)

    • Other

      • ASML.NA (ASML Holding) -- ASML F2Q25 Earnings Preview

      • AI.FP (Air Liquide) -- announces $50M+ investment for gas production plant

      • RNO.FP (Renault) -- appoints CFO Duncan Minto as new CEO for an interim period until the appointment of the new CEO

      • STAN.LN (Standard Chartered) -- launches fully integrated digital assets trading service for institutional clients (earlier)

      • CCH.LN (Coca-Cola HBC) -- releases presentation material focusing on Nigeria in connection with its series of Bitesize events (15-Jul)

      • Intraday themes include 19% tariff agreement with Indonesia and China export controls on EV battery tech (15-Jul)

      • Rio Tinto trading (0.3%) post Q2 production; Iron ore shipments missed, though production met expectations

  • Key rating changes

    • Upgrades

      • ADDT.B.SS (Addtech) -- to buy from hold at DNB Carnegie

      • BYIT.LN (Bytes Technology Group) -- to buy from hold at Jefferies

      • HMS.SS (HMS Networks) -- to buy from hold at ABG Sundal Collier

      • INRN.SW (Interroll Holding) -- to buy from neutral at UBS

    • Downgrades

      • HAS.LN (Hays Plc) -- to underweight from equal-weight at Morgan Stanley

      • INDT.SS (Indutrade) -- to hold from buy at SEB

      • KESKOB.FH (Kesko) -- to hold from buy at DNB Carnegie

      • DHG.GR (Dalata Hotel Group) -- to neutral from buy at UBS

    • Initiations

      • UCB.BB (UCB) -- buy at Goldman Sachs

    • Other Actions

      • IPH.FP (Innate Pharma) -- transferred buy at Stifel; prior rating was buy

      • EXENS.FP (Exosens) -- transferred buy at Stifel; prior rating was buy

  • Data

    • Nikkei +0.06% to 39700.73

    • Hang Seng +0.06% to 24604.45

    • Shanghai Composite (0.23%) to 3496.90

    • S&P futures (10.5) vs prior close of 6284.0

    • €-$ +0.0021 or +0.18% to 1.1623

    • $-¥ (0.04) or (0.02%) to 148.83

    • €-¥ +0.26 or +0.15% to 172.96

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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