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 - Europe Pre-Open: Futures: FTSE (0.47%), DAX (0.47%), CAC40 (0.67%)

Oct 14 ,2025

  • Synopsis

    • European equity markets are set to open lower, following firmer close on Monday, though off the best levels of the session. Asian equity markets mixed. Japan underperforms after resuming trade after Monday's holiday. Greater China markets mixed, with Hang Seng underperforming. ASX gains. Korea and Taiwan weaker. US equity futures weaker with S&P down 0.6%.

    • Risk sentiment stabilizing amid latest signs of de-escalation in US-China trade tensions. China Commerce Ministry revealed US and China held working-level talks on Monday while Treasury Secretary Bessent said Trump and Xi still planning to meet at APEC this month. Comes after Trump voiced optimism that things will work out, leaving room for two sides to reach an outcome that averts imposition of additional 100% tariffs from 1-Nov.

    • On today's agenda, In UK, there's MPs questions on energy security and net zero, whilst committee topic include housing conditions in England at 10:00BST, budget 2025 at 10:15, Ofcom leadership 14:30 and UK-India Free Trade Agreement at 16:00. In Germany, Chancellor Merz will travel to State of Brandenburg as part of his inaugural visits to all German states and will attend the gala event of the German Academy of Science and Engineering and deliver a keynote speech. Also, there's Green Fuels Import Conf. Also of note, first day of trading for Posti Group (+POSTI.FH) IPO.

    • In central banks, ECB's Cipollone speech at 9:50CET at event organised by European Conservatives and Reformists (livestream). BOE's Taylor remarks and fireside chat at 13:00BST at Kings College, Cambridge 'Diversion ahead'. ECB's Donnery panellist at 16:00CET at the Bloomberg Global Regulatory Forum 2025 and Machado speech at 16:30 at conf organised by Banco de Portugal, the latter also hosting a meeting of the Central Banks of Portuguese-Speaking Countries. Ireland central bank's Makhlouf speech at 16:30BST at Atlantic Council Washington. Bank of France's Villeroy speech at 18:30CET in New York. IIF Annual Membership Meeting (through Fri, agenda) sees BOE's Bailey in conversation at 18:00BST. IMF publishes its latest world economic outlook and IEA oil market report is due.

    • Macro data releases include, Germany Oct ZEW survey, Sep final CPI, UK Sep claimant count change, Aug unemployment rate, Sep retail sales monitor - BRC, Switzerland Sep PPI, Finland Sep CPI.

    • In earning news, yesterday after markets closed Michelin SA (ML.FP) lowered its FY25 outlook citing tariffs and deterioration of the business environment, whilst this morning Publicis Groupe (PUB.FP) reported Q3 net revenue and raised FY25 organic growth guidance. In Nordics, Ericsson (ERIC.B.SS) reported Q3 earnings exceeding consensus for EBITA/EBIT as results included SEK 7.6B capital gain benefit from divestment of iconectiv. In DAHCs, Givaudan (GIVN.SW) reported Q3 revenue and Fraport (FRA.GR) released September Frankfurt Airport traffic statistics. Other notable companies due to update investors today includes, LVMH Moet Hennessy Louis Vuitton (MC.FP) (after market close), BP (BP.LN), Schaeffler (SHA0.GR) and Telekom Austria (TKA.AV).

  • Politics/Macro/World News

    • EU interior ministers to clash over deportation rules - FT

    • France's Lecornu Faces Reckoning in Parliament Over Budget - Bloomberg

    • Embattled French PM Lecornu to present draft budget to parliament -- France24

    • Trump and Zelenskyy to meet Friday in Washington - Politico

    • UK Sep retail sales monitor +2.0% y/y vs consensus +2.5% and prior +2.9% - BRC

  • Top company news

    • Earnings/updates

      • DACHs

        • GIVN.SW (Givaudan) -- reports Q3 revenue CHF1.88B vs consensus CHF1.88B

        • FRA.GR (Fraport) -- reports Sep Frankfurt Airport traffic statistics: passengers 6.0M, +2.2% y/y

        • FHZN.SW (Flughafen Zuerich) -- reports Sep traffic statistics: ~3.05M passengers +3.4% y/y

        • BOSN.SW (Bossard Holding) -- reports Q3 revenue CHF264.9M vs FactSet CHF258.5M [1 est]

        • WIHN.SW (WISeKey International Holding) -- reports preliminary 9M revenue $10.6M vs year-ago $7.6M

        • FLU.AV (Flughafen Wien) -- reports Sept Group total passenger traffic +4.1% to 4.2M

      • Nordics

        • ERIC.B.SS (Telefonaktiebolaget LM Ericsson) -- reports Q3 adj EBITA SEK15.80B vs consensus SEK9.16B; it includes SEK 7.6B capital gain benefit from divestment of iconectiv

        • TFBANK.SS (TF Bank) -- reports Q3 EPS SEK2.70 vs FactSet SEK2.65 [3 est, SEK2.61-2.70]

        • KESKOB.FH (Kesko) -- reports Sep sales from continuing operations €1.14M, +6.1% in comparable terms

        • SF.SS (Stillfront Group) -- reports preliminary Q3 revenue SEK1.37B vs FactSet SEK1.39B [5 est, SEK1.34-1.42B]

        • DNO.NO (DNO ASA) -- Trading Update: Q3 production / sales

        • ALMA.FH (Alma Media) -- raises FY guidance

      • France

        • ML.FP (Cie Generale des Etablissements Michelin SA) -- Michelin adjusts FY25 outlook downward; cites tariffs and deterioration of the business environment

        • PUB.FP (Publicis Groupe) -- reports Q3 net revenue €3.53B vs consensus €3.51B; raises FY25 organic growth guidance and confirms FY25 guidance

      • Benelux

        • TOM2.NA (TomTom) -- reports Q3 net result €9.1M vs consensus (€1M); anticipates FY Group revenue will reach upper end of its guided range

      • Southern Europe

        • GALP.PL (Galp Energia SGPS) -- provides Q3 trading update

      • UK

        • SRB.LN (Serabi Gold) -- reports Q3 gold production 12,090 oz, +27% y/y

      • Other

        • RIO.AU (Rio Tinto) -- reports Q3 production; Pilbara iron ore shipments (100% basis) 84.3Mt vs StreetAccount 84.9Mt

      • Also due to report today includes:

        • Earnings:

          • DACHs: Telekom Austria (TKA.AV), ABOUT YOU Holding (YOU.GR), EuroTeleSites (7YF.GR)

          • UK: Bellway (BWY.LN), Bytes Technology Group (BYIT.LN), YouGov (YOU.LN)

        • Trading Update:

          • Benelux: Havas (HAVAS.NA)

          • DACHs: Schaeffler (SHA0.GR)

          • France: LVMH Moet Hennessy Louis Vuitton (MC.FP), Gecina (GFC.FP), Sidetrade (ALBFR.FP), Ekinops (EKI.FP)

          • UK: BP (BP.LN), Ninety One (N91.LN), Ashmore Group (ASHM.LN), Reach (RCH.LN), Robert Walters (RWA.LN)

    • M&A

      • KDP (Keurig Dr Pepper) -- trades higher after media reports suggesting Starboard has built a stake

      • UMI.BB (Umicore) -- completes sale and subsequent lease in of permanent gold inventories

      • OXUR.BB (Oxurion) -- announces LOI for contemplated acquisition of CRO with strong complementarity to Axiodis

      • AKER.NO (Aker ASA) -- Aker finalizes investment in Nscale and joint venture In Narvik

      • BPT.LN (Bridgepoint Group) -- Bridgepoint Group's Energy Capital Partners to sell Liberty Tire Recycling to I Squared Capital for $1.5B (£1.12B) - Bloomberg

      • BSL.GR (Basler) -- acquires a 76% stake in its Indian distribution partner Alpha TechSys Automation for an undisclosed sum

      • Calvary and Mater Hospital Group form alliance in bid to acquire Healthscope -The Australian

    • Healthcare

      • UCB.BB (UCB) -- announces final analysis of OLE study of Fintepla in Lennox-Gastaut syndrome published in Epilepsy and Behavior

      • ONCO.SS (Oncopeptides) -- issues warrants to fulfil obligations under loan agreement with EIB

    • Other

      • DB1.GR (Deutsche Börse) -- subsidiary ISS Stoxx IPO now not expected before 2026 - Reuters (13-Oct, 15:40 CET)

      • CLNX.SM (Cellnex Telecom) -- plans to cancel 24.1M own shares (post EU close 13-Oct)

      • SDR.LN (Schroders) -- reached target to source 100% renewable electricity for global operations in 2024

      • Boeing and Leonardo collaborate to pursue the U.S. Army's Flight School Next contractor-owned, contractor-operated (COCO) service contract

  • Key rating changes

    • Upgrades

      • ANE.SM (Corporación Acciona Energías Renovables) -- to neutral from underweight at JB Capital Markets (earlier, timing uncertain)

      • FEVR.LN (Fevertree Drinks) -- to buy from hold at Jefferies

      • IVSO.SS (INVISIO) -- to buy from hold at SEB

      • HSX.LN (Hiscox) -- to outperform from sector perform at RBC Capital Markets

      • VAR.NO (Vår Energi) -- to buy from hold at Norne Securities

    • Downgrades

      • GXI.GR (Gerresheimer) -- to neutral from buy at UBS

      • IMI.LN (IMI) -- to sector perform from outperform at RBC Capital Markets

      • SOP.FP (Sopra Steria Group) -- to neutral from outperform at BNP Paribas Exane

      • SIE.GR (Siemens AG) -- to equal-weight from overweight at Morgan Stanley

      • BEKB.BB (Bekaert) -- to underperform from neutral at Oddo

      • WAWI.NO (Wallenius Wilhelmsen) -- to hold from buy at Pareto

      • ML.FP (Cie Generale des Etablissements Michelin SA) -- to neutral from outperform at Oddo

    • Initiations

      • AOF.GR (ATOSS Software) -- neutral at Oddo

      • ELUX.B.SS (Electrolux) -- hold at Deutsche Bank

      • MTRS.SS (Munters Group) -- buy at Sparebank 1 Markets

    • Other Actions

      • ORSTED.DC (Ørsted) -- reinstated neutral at BNP Paribas Exane; prior rating was neutral

      • BEZ.LN (Beazley) -- assumed outperform at RBC Capital Markets

      • SCR.FP (SCOR SE) -- assumed outperform at RBC Capital Markets

      • CRE.LN (Conduit Holdings) -- assumed sector perform at RBC Capital Markets

      • HNR1.GR (Hannover Rueck) -- assumed sector perform at RBC Capital Markets

      • MUV2.GR (Munich Re) -- assumed sector perform at RBC Capital Markets

      • LRE.LN (Lancashire Holdings) -- assumed underperform at RBC Capital Markets

      • SREN.SW (Swiss Re) -- assumed underperform at RBC Capital Markets

      • HOLN.SW (Holcim) -- transferred buy at UBS; prior rating was neutral

  • Data

    • Nikkei (2.96%) to 46666.73

    • Hang Seng (1.22%) to 25573.09

    • Shanghai Composite (0.16%) to 3883.09

    • S&P futures (51.8) vs prior close of 6694.8

    • €-$ +0.0017 or +0.15% to 1.1587

    • $-¥ (0.53) or (0.35%) to 151.76

    • €-¥ (0.38) or (0.22%) to 175.82

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