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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.51%), DAX +0.12%, CAC40 (0.41%)

Nov 14 ,2025

  • Synopsis

    • European indices are set to open mixed to lower as Asian equities trading lower in broad risk-off session Friday. Steep losses on Japan, Taiwan and South Korean benchmarks with semis/tech notable decliners.

    • Yesterday US equities were lower in Thursday trading as stocks ended just a bit off worst levels. Equal-weight S&P 500 ahead of cap-weighted index by ~50 bp

    • Notable earnings early this morning, (CFR.SW) Richemont reports H1 net income €1.80B vs StreetAccount €1.69B. (ALV.GR) Allianz reports Q3 core net income €2.86B vs consensus €2.73B

    • In Macro data today: France Oct final CPI, Spain Oct final CPI, Italy Sep trade balance, Eurozone Q3 GDP - 2nd estimate, Sep trade balance, Sweden Oct unemployment rate, Finland Oct CPI.

    • In Central Banks: Final day of ECB's Banking Supervision form starts with speech from Eurogroup's Donohoe at 9:30CET, with ECB's Elderson speech at 11:30.

    • Early morning earnings: (TOKMAN.FH) Tokmanni Group reports Q3 EPS €0.24 vs FactSet €0.27. (NA9.GR) Nagarro reports Q3 net income €21.4M vs year-ago €12.7M. (SREN.SW) Swiss Re reports Q3 net income $1.43B vs consensus $1.33B. (ALV.GR) Allianz reports Q3 core net income €2.86B vs consensus €2.73B (SOON.SW) Sonova Holding reports H1 EPS CHF3.56 vs FactSet CHF3.93. (BAVA.DC) Bavarian Nordic A/S reports Q3 net income DKK1.09B vs year-ago DKK72.5M; FY financial guidance is further refined and remains within the previously guided revenue and EBITDA intervals

  • Politics/Macro/World News

    • Starmer and Reeves ditch plan to increase income tax rates in the Budget (FT )

  • Top company news

    • Earnings/updates

      • CFR.SW (Richemont) -- reports H1 net income €1.80B vs StreetAccount €1.69B

      • UBI.FP (Ubisoft Entertainment) -- Ubisoft announces the postponement of the release of its results for H1 of FY25-26

      • ENR.GR (Siemens Energy) -- reports Q4 EPS €0.19 vs year-ago (€0.34)

      • SOON.SW (Sonova Holding) -- reports H1 EPS CHF3.56 vs FactSet CHF3.93 [5 est, CHF3.60-4.15]

      • ENEL.IM (Enel) -- reports 9M ordinary net income €5.70B vs StreetAccount €5.62B; 2025 group net ordinary income expected to be slightly above high end of guidance range

      • ALO.FP (Alstom) -- reports H1 adjusted net income €338M vs consensus €270M; raises FY organic sales guidance, reaffirms adj. EBIT margin, FCF

      • ALV.GR (Allianz) -- Follow-up: Allianz reports Q3 core net income €2.86B vs consensus €2.73B; expects to achieve FY25 operating profit of at least €17B

      • ALV.GR (Allianz) -- reports 9M operating income €13.10B, +11% vs year-ago €11.80B

      • ACS.SM (ACS SA) -- reports 9M ordinary NPAT €585M, +20% vs year-ago €489M

      • FGR.FP (Eiffage) -- reports Q3 revenue €6.39B vs StreetAccount €6.27B

      • NYXH.BB (Nyxoah) -- reports Q3 EPS (€0.63) vs FactSet (€0.59) [6 est, (€0.71)-(0.42)]

      • ANA.SM (Acciona) -- Q3 2025 trading statement; maintains FY25 EBITDA target

      • ORK.NO (Orkla) -- reports Q3 adj EPS NOK1.85 vs FactSet NOK1.65 [4 est, NOK1.60-1.73]; initiates share buyback program of up to NOK 4.0B

      • COL.SM (Inmobiliaria Colonial SOCIMI) -- reports Q3 EPS €24.90 vs year-ago €25.90

      • POXEL.FP (Poxel) -- reports Q3 revenue €1.0M vs year-ago €0.9M

      • CRL.IM (Carel Industries) -- reports Q3 revenue €157.5M vs FactSet €155.1M [3 est, €154.1-156M] (earlier)

      • ANE.SM (Corporación Acciona Energías Renovables) -- reports Q3 Trading Update: Reaffirms FY EBITDA guidance of €1.50-1.75B vs FactSet €1.63B [7 est, €1.48-1.73B] (post EU close 13-Nov)

      • DEQ.GR (Deutsche EuroShop) -- reports 9M FFO €0.109 vs year-ago €0.125

      • GDS.FP (Ramsay Générale de Santé) -- reports Q1 net income attributable (€40.1M) vs year-ago (€47.3M)

      • GDS.FP (Ramsay Générale de Santé) -- CORRECTION: Ramsay Générale de Santé reports Q1 net income attributable (€40.1M)

      • TLGO.SM (Talgo) -- reports 9M revenue €497.8M, +4% vs year-ago €480.6M

    • M&A

      • REP.SM (Repsol) -- Follow-up: Repsol reportedly examining transaction to merge its upstream business with APA Corp. -- Bloomberg

      • PPH.LN (PPHE Hotel Group) -- owners reportedly considering going private - Bloomberg

      • AML.LN (Aston Martin Lagonda Global Holdings) -- Aston Martin chairman reportedly contemplated buyout of car manufacturer alongside Saudi fund - FT

      • LKOH.RU (Lukoil) -- Carlyle (CG) reportedly weighing options to acquire Lukoil's foreign assets -- Reuters, citing sources

      • COFB.BB (Cofinimmo) -- acquires three development projects in Finland

    • Healthcare

      • OGN (Organon & Co.) -- FDA approves first biosimilar of Genentech's Perjeta

      • BAVA.DC (Bavarian Nordic A/S) -- Chair Luc Debruyne to step down; effective immediately

      • NYXH.BB (Nyxoah) -- secures financing commitments of up to U.S. $77M to drive U.S. commercialization of Genio

      • NANO.FP (Nanobiotix) -- announces advancements for its next-wave Curadigm Nanoprimer platform.

      • BIOA.B.SS (BioArctic) -- BioArctic's Leqembi approved for once every four weeks IV maintenance dosing for treatment of early Alzheimer's disease by MHRA in the UK

      • COPN.SW (Cosmo Pharmaceuticals) -- announces Winlevi receives regulatory approval in Brazil

    • Other

      • AIR.FP (Airbus SE) -- Follow-up: Emirates in advanced talks for order of 30+ Airbus A350-1000s - Bloomberg

      • FER.SM (Ferrovial) -- places non-dilutive cash settled convertible bonds for an amount of €400M due 20-May-31

      • MRL.SM (MERLIN Properties SOCIMI) -- MERLIN Properties proposes interim dividend of €0.20 per share

      • BPT.LN (Bridgepoint Group) -- holder Burgundy C Nominees Ltd. placing ~24M shares via accelerated bookbuild through BNP Paribas

      • DOCM.SW (DocMorris) -- announces the results of the tender offer for its outstanding convertible bonds due 2026

      • Netherlands announces it and partner countries have decided not to acquire 6 Boeing E-7 Wedgetails -- statement (earlier)

      • Rio Tinto enters 15y virtual power purchase agreement with Terragen for 78.5MW of renewable energy

  • Key rating changes

    • Upgrades

      • Keefe, Bruyette & Woods upgrades BMPS.IM, MB.IM; downgrades BAMI.IM, BPE.IM, ISP.IM

    • Downgrades

      • OET.NO (Okeanis Eco Tankers) -- to hold from buy at DNB Carnegie

      • OET.NO (Okeanis Eco Tankers) -- to hold from buy at ABG Sundal Collier

    • Initiations

      • LOGN.SW (Logitech International) -- outperform at Oddo

      • NOD.NO (Nordic Semiconductor) -- neutral at Oddo

      • CAMX.SS (Camurus) -- buy at Danske Bank

  • Data

    • Nikkei (1.87%) to 50321.60

    • Hang Seng (1.42%) to 26687.84

    • Shanghai Composite (0.40%) to 4013.55

    • S&P futures (4.5) vs prior close of 6760.0

    • €-$ +0.0008 or +0.07% to 1.1643

    • $-¥ (0.06) or (0.04%) to 154.48

    • €-¥ +0.03 or +0.02% to 179.83

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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