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: BNY).

 

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 - Europe Pre-Open: FTSE (0.2%), DAX flat, CAC +0.2%

Nov 02 ,2026

  • Synopsis

    • European equity markets set for a mixed open as a new month of trading gets underway. Europe's leading benchmark Stoxx 600 saw a gain of ~1.9% in October despite a challenging macro backdrop. Performance across the region was mixed. Italy's MIB and France CAC underperformed, while DAX and UK FTSE 100 outperformed and there was notable strength in Switzerland's SMI.

    • Asia equities again mixed Monday. Tech-leaning benchmarks also diverging with Japan's Nikkei and Taiwan's Taiex both lower but South Korea's Kospi notably higher. Turnaround in Asia AI trade with China semis, tech platforms and AI developers strengthening ahead of regulatory meeting on market support measures. China PMIs offered mixed read on manufacturing with official gauge falling back into contraction amid declines in new orders, exports and output. Official non-manufacturing PMI also returned to contraction. Contrasted with RatingDog manufacturing PMI remaining in expansion amid rise in output to six month high. Other Asia manufacturing PMIs signaled weaker activity among major tech-exporting nations with new orders slowing and cost pressures evident in Japan, Taiwan and South Korea.

    • Crude retreating (WTI (Dec 26) (3.19%) to $100.80) as Qatari mediators and Iranian officials continue diplomatic efforts with latest reports noting talks center on deal to reopen Strait of Hormuz within two days. While Iran reiterated its pre-conditions for reopening Hormuz, country's security chief Rezai noted change in tone from US and claimed readiness to accept Tehran's conditions. Fears of conflict following midterm elections remain high with Trump and Iran continuing war rhetoric.

    • This week's agenda sees Midterm Congressional elections on Tue, OPEC+ meeting, interest rate decisions by BOE and Norges Bank amongst others, Oct manufacturing/services PMIs from across the region as well as earnings/updates from the likes of ArcelorMittal (MT.NA), Bayer (BAYN.GR), BT Group (BT.A.LN), DHL Group (DHL.GR), Diageo (DGE.LN), Leonardo (LDO.IM), Maersk (MAERSK.B.DC), Novo Nordisk (NOVO.B.DC), Prudential (PRU.LN), Ryanair Holdings (RYA.ID) and Swiss Re (SREN.SW).

    • Of note, US clocks went back 1 hour on Sun (1st).

    • European macro data releases out today include Italy, Spain, Sweden, Switzerland Oct manufacturing PMI as well as final reads for Eurozone, France, Germany, UK, Germany Sep retail sales, Switzerland Sep retail sales, Austria Oct unemployment rate, Ireland Oct unemployment rate. Netherlands Sep Retail Sales +2.7% y/y vs consensus +2.8% and prior revised +3.8% from +3.5%

    • In corporate highlights, Alstom (ALO.FP), which issued a significant profit warning, slashing its FY26/27 EBIT margin guidance to ~1% from 6.5% and reporting an H1 EBIT margin of -4.0% against expectations of ~6.0% - this will be the main market mover of the morning. Ryanair (RYA.ID) delivered a broadly in-line Q3. Bakkafrost (BAKKA.NO) missed heavily on Q3 operational EBIT (DKK128M vs consensus DKK242M). Forvia (FRVIA.FP) reported stable Q3 revenues and confirmed FY guidance, with its Apollo interiors divestiture due to close in Q4. On the broker side, CaixaBank (CABK.SM) was upgraded to Overweight at Morgan Stanley, while Novartis (NOVN.SW), Roche (ROP.SW) and Haleon (HLN.LN) all saw downgrades from Deutsche Bank, UBS and Berenberg respectively. Euronext (ENX.FP) announced plans to nominate David Knibbe, current CEO of NN Group, as its new CEO. Notable reporters today include Grifols (GRF.SM), Lottomatica (LTMC.IM) and Coface (COFA.FP).

    • In central banks, Bundesbank's Nagel in monetary policy dialogue at 13:00CET at Bundestag committee and Köhler-Geib panellist at 16:00 at Bundesbank Invited Speaker Series (livestream). World in Progress forum (through Tue) sees Bank of France's Moulin and Bank of Spain's Escriva panellists at 16:00CET. Publication of the ECB's latest Survey of Monetary Analysts at 10:00CET. Irish central bank conf, speakers include Irish finance minister Harris, Irish central bank's Makhlouf, Denmark central banks' Krogstrup, EU's Albuquerque and ECB's Vujčić (speech, fireside chat from 9:45GMT) and Witlox. OECD Financial Markets Week in Paris (through Fri). In the UK, MPs continue to debate the recent budget. Chancellor Merz delivers a speech at Digital Summit in Berlin. EU's Hansen in Türkiye to participate in the third EU High-Level Dialogue on Agriculture whilst EU's Kallas meets UK defence minister Streeting and hosts the EU-UK Security and Defence dialogue and EU's Albuquerque delivers a speech and participates in a fireside discussion at the Financial System Conf. 2026. France, Italy, Spain Oct new car registrations are due for release.

  • Politics/Macro/World News

    • BoE Set To Raise Rates To 4% In Fight Against Inflation - FT

    • BoE explores easing key limit on riskier mortgage lending - FT

    • Millions in UK brace to remortgage on worse deals as rate rise looms - Guardian

    • Meloni targets Italy's wealthy with 'exit tax' -- Telegraph

    • British Food Standards Realigned With EU For First Time Since Brexit - Times

    • Allies fear Trump will target NATO in case of midterm loss - POLITICO

    • Fitch Revises France's Outlook to Negative; Affirms at 'A+'- link

    • Bitcoin stabilizing after Binance resumes withdrawals following crypto hack

  • Top company news

    • Earnings/updates

      • RYA.ID (Ryanair Holdings) -- reports Q2 EPS €1.54 ex-items vs FactSet €1.53 [7 est, €1.35-1.60]

      • ALO.FP (Alstom) -- reports H1 EBIT margin (4.0%) vs FactSet ~6.0%; adjusts FY26/27 EBIT margin guidance to ~1% from 6.5%

      • FRVIA.FP (Forvia) -- reports Q3 revenue €5.08B vs year-ago €5.03B; FY26 guidance confirmed

      • ARBN.SW (Arbonia) -- lowers FY guidance

      • BCP.PL (Banco Comercial Portugues) -- reports estimated ratios as of 30-Sep exceed new ECB minimum requirements

      • BAKKA.NO (Bakkafrost) -- reports Q3 operational EBIT DKK128M vs FactSet DKK242.1M [11 est, DKK194-342.7M]

      • MED.SW (Medartis Holding) -- Medartis reports growth in US business has accelerated driven by faster-than-expected adoption of TOUCH prosthesis; expects stronger outcome for 2026 financial year than previously anticipated

      • HLE.GR (FORVIA HELLA) -- reports FY revenue €5.93B vs FactSet €7.89B [1 est]

      • ALBPS.FP (Biophytis) -- reports H1 net income (€2.7M) vs year-ago (€4.5M)

      • ACAD.SS (AcadeMedia) -- reports Q1 EPS SEK1.31 vs FactSet SEK1.24 [4 est, SEK0.92-1.60]

      • Also reporting today

        • Earnings:

          • DACHs: AdvancedAdvT (06P0.GR), Amadeus FiRe (AAD.GR)

          • France: Coface (COFA.FP)

          • Nordics: Framery Group (FRAMERY.FH), Aspo (ASPO.FH), Ilkka (ILKKA.FH)

          • Southern Europe: Lottomatica Group (LTMC.IM), Grifols (GRF.SM), Corticeira Amorim (COR.PL)

        • CMD/Events: Kalmar (KALMAR.FH), Grupo Ezentis (EZE.SM) EGM, Saniona (SANION.SS) EGM, Gentoo Media (G2M.SS) EGM

    • M&A

      • FRVIA.FP (Forvia) -- Forvia interiors divesture to Apollo to close in Q4

      • OCI.NA (OCI NV) -- OCI announces EGM approval and updated timeline for combination with Orascom Construction

      • MUX.GR (Mutares) -- is evaluating strategic exit options for portfolio company Efacec earliest in 2027

      • EQT.SS (EQT AB) -- Increasing speculation EQT will look to sell Icon Group - The Australian

      • FORTUM.FH (Fortum) -- carried out a compulsory acquisition of the remaining shares in Elmera Group ASA and owns 100% of the company

      • SBS.GR (Stratec) -- to sell Diatron MI to consortium for €10.0M plus earn-outs

      • ATORX.SS (Alligator Bioscience) -- to sell mitazalimab to Biossil for $0.75M (SEK7.4M) upfront

      • SIP.BB (Sipef) -- subsidiary Tolan Tiga Indonesia signs binding letter of intent to acquire minority stakes in Indonesian Group companies

      • IOT.IM (SECO SpA) -- SECO agrees to acquire 60% of Zhejiang Qiyang Intelligent Technology as well as the remainder of Fannal Electronics and SECO Asia

    • Healthcare

      • BAVA.DC (Bavarian Nordic) -- has been awarded a new multi-year contract by the UK Government through the UK Health Security Agency (UKHSA) for the supply of MVA-BN

      • FRE.GR (Fresenius) -- and WuXi Biologics enter exclusive development agreement to expand biosimilars pipeline

      • 068270.KS (Celltrion) -- receives EMA approval for phase 3 clinical trial of CT-P13 SC for rheumatoid arthritis

      • VIVE.SS (Vivesto) -- FDA grants Orphan Drug Designation to cantrixil for the treatment of acute myeloid leukemia

      • SKAN.SW (SKAN Group) -- AG informs about the proceedings by the Office of the Attorney General of Switzerland from 2023

    • Other

      • TTE.FP (TotalEnergies) -- signs deals to cut methane emission; terms undisclosed

      • ENX.FP (Euronext) --plans to nominate David Knibbe as CEO and Chairman of the Managing board; Knibbe will join from NN Group where he is CEO

      • UPM.FH (UPM-Kymmene) -- registers demerger; WISA Group to start trading 2-Nov

      • Estimated weekend box office revenues in US, Canada $55.7M, (3.0%) y/y - Box Office Mojo

      • France Oct new passenger car registration +11.9% y/y (comparable working days) to 149,341 vehicles -- PFA

      • Sustainability Daily - Dockworkers strike worldwide over arms shipments; Meta facing AI, privacy probes

      • Virgin Media O2 to fire substantial portion of workforce within months - Sky News

  • Key rating changes

    • Upgrades

      • ARJO.B.SS (Arjo) -- to buy from hold at DNB Carnegie

      • DEBS.LN (Debenhams Group) -- to outperform from underperform at RBC Capital Markets

      • IG.IM (Italgas) -- to buy from hold at Berenberg

      • CABK.SM (CaixaBank) -- to overweight from equal-weight at Morgan Stanley

    • Downgrades

      • NOVN.SW (Novartis) -- to sell from hold at Deutsche Bank

      • HLN.LN (Haleon) -- to hold from buy at Berenberg

      • ROP.SW (Roche Holding) -- to neutral from buy at UBS

      • DOCS.LN (Dr. Martens) -- to underweight from equal weight at Barclays

      • BEI.GR (Beiersdorf) -- to hold from buy at HSBC

      • AVOL.SW (Avolta) -- to sector perform from outperform at RBC Capital Markets

      • Arctic Securities downgrades AKRBP.NO, EQNR.NO, VAR.NO

    • Initiations

      • LMP.LN (LondonMetric Property) -- neutral at Oddo

      • SAAB.B.SS (Saab) -- neutral at JPMorgan

  • Data

    • Nikkei (0.33%) to 63081.86

    • Hang Seng +0.54% to 23419.16

    • Shanghai Composite +0.94% to 3632.76

    • S&P futures +34.3 vs prior close of 7614.0

    • €-$ +0.0028 or +0.25% to 1.1188

    • $-¥ +0.34 or +0.22% to 157.84

    • €-¥ +0.81 or +0.46% to 176.59

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

    • BNY.com Terms of Use Privacy Cookie Notice Manage Cookies Disclaimer CUSIP Disclaimer

    • ©  2025 The Bank of New York Corporation. Depositary Receipt business and services are conducted through The Bank of New York.