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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE (0.21%), DAX (0.29%), CAC40 (0.17%)

Sep 24 ,2025

  • Synopsis

    • European equity markets are set for a negative open amidst mixed Asian equities Wednesday. Greater China outperforming with Alibaba leading rebound in Hong Kong-listed tech stocks. Japan, South Korea, Australia and Taiwan all trading lower. S&P 500 futures slightly higher afterhours.

    • Chancellor Merz will participate in the general debate on the budget in the German Bundestag and later in the day speech/panellist at event hosted by German Chemical Industry Assn. Germany's finance minister Klingbeil speech at 16:30CET at event hosted by Hertie School Jacques Delors Centre.

    • In central banks, Bundesbank's Balz welcoming speech at 9:00CET at trade conference. ECB's Machado opening remarks at 9:15CET at Supervision Innovators Conf. BOE Greene speech at 17:30BST at Univ. of Glasgow Business School and Adam Smith Business School 'Supply shocks and monetary policy'. Bundesbank's Mauderer welcoming speech at 18:00ET at bank's representative office in New York. Conf. on "International Capital Flows and Financial Policies" jointly hosted by Bank of Italy, Bank of France, BOE, IMF and OECD.

    • Macro data include Germany Sep Ifo survey, Spain and Finland Aug PPI as well as Switzerland Sep economic sentiment index - ZEW.

    • A light morning for earnings sees Sanofi (SAN.FP) updating on Q3 currency impacts and Metso Corp. (METSO.FH) announcing updated strategy for 2026-30 and new financial targets to be achieved by the end of 2028; targets annual sales growth of at least 7%. WISeKey International Holding (WIHN.SW) reported H1 net income ($22.3M) vs year-ago ($15.5M).

    • Also due to release reports/updates today are JD Sports Fashion (JD.LN), Pinewood Technologies Group (PINE.LN), Saga (SAGA.LN), EnQuest (ENQ.LN), Trigano (TRI.FP), Harboes Bryggeri (HARB.B.DC) and On the Beach Group (OTB.LN).

  • Politics/Macro/World News

    • Trump posts on Ukraine-Russia war; says he thinks Ukraine can win back all of its territory with EU support -- Truth Social post (~30 minutes ago)

    • Sweden keeps jet fighter options open amid Franco-German tensions - politico

  • Top company news

    • Earnings/updates

      • SAN.FP (Sanofi) -- announces Q3 currency impacts are estimated at around (5%) on sales -- Q3 aide memoire

      • METSO.FH (Metso Corp.) -- announces updated strategy for 2026-30 and new financial targets to be achieved by the end of 2028; targets annual sales growth of at least 7%

      • WIHN.SW (WISeKey International Holding) -- reports H1 net income ($22.3M) vs year-ago ($15.5M)

    • M&A

      • DHL.GR (DHL Group) -- EU clears DHL Group's acquisition of a stake in Evri (23-Sep)

      • SHUR.BB (Shurgard Self Storage) -- signs conditional purchase agreement for a freehold plot in the south-eastern district of Munich

      • DOFG.NO (DOF Group) -- signs agreement to sell vessel Skandi Handler; terms not disclosed

      • NRDF.DC (Nordfyns Bank) --

        • Nordfyns Bank, Fynske Bank announce termination of merger agreement

        • Middelfart Sparekasse resubmits merger offer for Nordfyns Bank of DKK 620 per share

      • BLKB.SW (Basellandschaftliche Kantonalbank) -- Basellandschaftliche Kantonalbank to withdraw from radicant; sale discussions currently underway

    • Healthcare

      • MC.FP (LVMH) -- to acquire remaining 60% of Challenges periodical for €6M - Le Figaroe

      • CLCO.NO (CoolCo) -- EPS Ventures Ltd agrees in principal to acquire the remainder of CoolCo for $9.65/share in cash

      • AD.GR (Amadeus Fire Group) -- acquires e-learning platform Masterplan com GmbH; enterprise value amounts to ~€20M plus additions to current assets and minus net debt

      • ANTIN.FP (Antin Infrastructure Partners) -- has signed a binding agreement to acquire Aquavista Watersides & Marinas, the UK's largest marina infrastructure provider

      • SAN.FP (Sanofi) -- NICE recommends Sanofi's Sarclisa in combination for untreated multiple myeloma when a stem cell transplant is unsuitable

      • SAN.FP (Sanofi) -- commits additional $625M to Ventures to accelerate investment in biotech and digital health innovation

      • VIJ.GR (Viemed Healthcare) -- announces completion of share repurchase program

      • EMEIS.FP (Emeis SA) -- announces disposal target exceeded and reduction of net debt by nearly €700M

      • ASKER.SS (Asker Healthcare Group) -- Sjätte AP-fonden announces its intention to explore the opportunity to sell ~38M shares in Asker Healthcare Group AB

      • MEDCL.FP (MedinCell) -- Teva and MedinCell's Risperidone LAI approved in Canada as LONGAVO

      • OSE.FP (OSE Immunotherapeutics) -- acknowledges decision of Nantes Commercial Court

    • Other

      • NDX1.GR (Nordex) -- secures first Spanish order for eight N175/6.X turbines

      • F3C.GR (SFC Energy) -- receives follow-up orders worth approx. C$9.3M from a major Canadian oil and gas producer

      • ASKER.SS (Asker Healthcare Group) -- holder Sjätte AP-fonden sold ~38M shares at SEK81/share through Citi, DNB Carnegie and Nordea

      • LHA.GR (Deutsche Lufthansa) -- Lufthansa Airlines CEO Jens Ritter threatening to shut down further flights from German airports in light of rising site costs -- Berliner Morgenpost

      • TPEIR.GA (Piraeus Financial Holdings) -- shareholders approve €100M share buyback program (post EU close 23-Sep)

      • VWS.DC (Vestas Wind Systems) -- notes it has received orders for 320 MW in the USA for undisclosed projects; adds to Q3 order intake

      • SSAB.A.SS (SSAB) -- near zero C02 steel first to meet IEA threshold

      • Talga Group secures strategic supply of recycled graphite feedstock from Aurubis for Talnode-R anode

  • Key rating changes

    • Upgrades

      • SAP.GR (SAP) -- to outperform from neutral at Oddo

    • Downgrades

      • SATS.NO (SATS) -- downgraded to hold from buy at ABG Sundal Collier

      • AMS.SM (Amadeus IT Group) -- to neutral from outperform at Oddo

      • SREN.SW (Swiss Re) -- to neutral from overweight at JPMorgan

    • Initiations

      • SFZN.SW (Siegfried Holding) -- hold at Kepler Cheuvreux

      • CCR.LN (C&C Group) -- sector perform at RBC Capital Markets

  • Data

    • Nikkei +0.11% to 45544.49

    • Hang Seng +0.97% to 26413.39

    • Shanghai Composite +0.60% to 3844.63

    • S&P futures +6.0 vs prior close of 6715.0

    • €-$ (0.0020) or (0.17%) to 1.1796

    • $-¥ +0.28 or +0.19% to 147.93

    • €-¥ +0.05 or +0.03% to 174.49

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.
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