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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE +0.45%, DAX +0.69%, CAC40 +0.09%

Aug 06 ,2025

  • Synopsis

    • European equity markets are set to open for a positive open amidst mostly higher Asian equities Wednesday. Semis/tech under some pressure, weighing on Taiwan and Korean benchmarks. Major autos supporting Japan market with country's top trade official in US to press for auto tariff cut. Greater China and Australian markets also higher. S&P 500 futures advancing afterhours.

    • In Norway, PM Støre participates in the first party leadership debate of the election campaign (on Amedia) at 20:00CET.

    • Russia central bank minutes of last MPC meeting and commentary on the medium-term forecast.

    • Economic data on the agenda include Germany Jun factory orders, Germany and UK Jul construction PMI, Italy Jun industrial production, Eurozone Jun retail sales and Austria Jul PPI

    • A busy morning for earnings kicked off with results from DACHs region companies Siemens Energy (ENR.GR) Fresenius (FRE.GR), Zalando (ZAL.GR), Beiersdorf (BEI.GR), Bayer (BAYN.GR), Commerzbank (CBK.GR). In the Benelux region, ABN AMRO Bank (ABN.NA) and Ahold Delhaize (AD.NA) are out with reports whilst from the Nordics, Novo Nordisk (NOVO.B.DC) and Sampo (SAMPO.FH) reported Q2. In Italy, BFF Bank SpA (BFF.IM) and Banco BPM (BAMI.IM) are out with results.

    • Banco de Sabadell (SAB.SM) host EGM to vote on disposal of TSB Banking Group.

  • Macro

    • Reeves warned of 'impossible trilemma' on tax, spending and fiscal rules - FT

    • Reeves must raise tax to cover £41bn gap, says think tank - BBC

  • Top company news

    • Earnings/updates

      • Benelux:

        • ABN.NA (ABN AMRO Bank) -- reports Q2 EPS €0.67 vs consensus €0.64; announces new €250M share buyback

        • AD.NA (Koninklijke Ahold Delhaize) -- reports Q2 underlying EPS €0.65 vs consensus €0.64; reiterates its 2025 outlook

      • DACHs:

        • ENR.GR (Siemens Energy) -- reports Q3 EPS €0.71 vs FactSet €0.43 [6 est, €0.17-1.00]; confirms raised outlook issued in Q2 with a tendency towards the upper end of the guided ranges

        • FRE.GR (Fresenius) -- reports Q2 EPS ex-items €0.73 vs consensus €0.81

        • ZAL.GR (Zalando) --

          • adjusts guidance for 2025 financial year taking into account strategic combination with ABOUT YOU

          • reports Q2 net income €96.6M vs FactSet €102.4M [3 est, €86-119.6M]

        • BEI.GR (Beiersdorf) -- adjusts forecast for FY25; notes more difficult market conditions

        • BAYN.GR (Bayer) -- reports Q2 Core EPS €1.23 ex-items vs FactSet €0.90 [10 est, €0.67-1.23]

        • CBK.GR (Commerzbank) -- reports Q2 net income €462M vs consensus €369M; raises its FY outlook and announces €1B buyback

        • KCO.GR (Kloeckner & Co.) -- reports Q2 EBITDA before material special effects €65M vs FactSet €69.8M [2 est, €67.6-72M]; specifies Q3 and FY guidance

        • UBXN.SW (u-blox Holding) -- reports H1 revenue CHF123.4M, +32% vs year-ago CHF93.8M

        • VNA.GR (Vonovia) -- reports H1 EPRA NTA per share €45.23 vs year-ago €45.16; raises FY25 guidance

        • KTN.GR (Kontron) -- reports Q2 EPS €1.09 vs FactSet €0.35 [1 est]; raises FY EBITDA guidance

        • VOE.AV (Voestalpine) -- reports Q1 EPS €0.59 vs consensus €0.52; reaffirms FY guidance

        • TIMA.GR (ZEAL Network) -- reports Q2 EBITDA €17.6M vs FactSet €16.2M [2 est, €14.7-17.6M]

      • Nordics:

        • SAMPO.FH (Sampo) -- reports Q2 operating EPS €0.14 vs consensus €0.13; adjusts FY guidance; to launch a new €200M share buyback programme

        • NOVO.B.DC (Novo Nordisk) -- reports final Q2 net income DKK26.50B vs FactSet DKK26.95B [12 est, DKK25.27-28.34B]; hikes interim divi by 7%

        • RILBA.DC (Ringkjøbing Landbobank) -- reports Q2 net income DKK575M vs FactSet DKK535.5M [4 est, DKK522-547M]; raises FY net income guidance

        • QTCOM.FH (Qt Group) -- reports Q2 EPS €0.27 vs FactSet €0.46 [5 est, €0.41-0.50]

      • Southern Europe:

        • BAMI.IM (Banco BPM) -- reports Q2 adjusted net income €524.2M vs FactSet €589.7M [9 est, €418-672M]; FY net

        • BPE.IM (BPER Banca) -- reports Q2 net income attributable €460.5M vs FactSet €394.4M [7 est, €385-413M]; raises FY stand alone guidance

        • BFF.IM (BFF Bank SpA) -- reports H1 adjusted net income €75.3M, +6% vs year-ago €71.0M

        • CE.IM (Credito Emiliano) -- reports H1 net income €378.1M, +17% vs year-ago €323.8M

    • M&A

      • TTE.FP (TotalEnergies) -- YPF nearing acquisition of shale oil assets from TotalEnergies - Bloomberg

      • AWE.LN (Alphawave IP Group) -- shareholders approve the Scheme in connection with previously announced acquisition

    • Healthcare

      • GLPG.NA (Galapagos) -- Announces US FDA Regenerative Medicine Advanced Therapy (RMAT) Designation Granted to GLPG5101 for the Treatment of Relapsed/Refractory Mantle Cell Lymphoma

      • NOVO.B.DC (Novo Nordisk) -- announces additional lawsuits against compounders claiming to contain semaglutide

    • Other

      • EQNR.NO (Equinor) -- expected to formally withdraw from proposed Novocastrian wind project in Australia - Australia Financial Review

      • BA.LN (BAE Systems) -- named principal contractor for $104M sale to Government of Ukraine

      • EDP.PL (EDP-Energias de Portugal) -- announces Brazilian electricity regulator approves the tariff revision for EDP Espírito Santo (post EU close 5-Aug)

      • Intraday themes include possible semiconductor tariffs next week; US proposes easing long-range drone rules (5-Aug)

  • Key rating changes

    • Upgrades

      • Berenberg upgrades INRN.SW, KARN.SW

      • BFF.IM (BFF Bank SpA) -- to outperform from neutral at Mediobanca

      • COFB.BB (Cofinimmo) -- to equal weight from underweight at Barclays

    • Downgrades

      • CLN.SW (Clariant) -- to neutral from buy at Goldman Sachs

      • TW.LN (Taylor Wimpey) -- to underweight from equal weight at Barclays

      • FUR.NA (Fugro) -- to hold from buy at Jefferies

    • Other Actions

      • WBD.IM (Webuild) -- assumed outperform at BNP Paribas Exane; prior rating was outperform

  • Data

    • Nikkei +0.54% to 40770.45

    • Hang Seng +0.05% to 24914.72

    • Shanghai Composite +0.23% to 3625.80

    • S&P futures +23.5 vs prior close of 6325.3

    • €-$ +0.0005 or +0.04% to 1.1581

    • $-¥ (0.14) or (0.10%) to 147.47

    • €-¥ (0.12) or (0.07%) to 170.75

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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