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Back to Daily DR Market Summary

StreetAccount Summary - EU Pre-Open Indications: Futures: FTSE +0.04%, DAX +0.18%, CAC40 +0.16%

Dec 05 ,2025

  • Synopsis

    • European indices are set to open mostly higher as Asia equities also tilt higher and head for modest weekly gains. Japan's main boards giving up around half of Thursday's gains, Singapore also lower. Elsewhere, gains for Greater China, Australia and Taiwan with the Kospi again posting outsized gains.

    • US equities were narrowly mixed in Thursday trading. Stocks ended off best levels, with S&P 500, Nasdaq pacing for slight gain for the week.

    • US envoy Witkoff will meet Ukraine's national security chief Umerov in Miami Thursday, following inconclusive Moscow talks with President Putin (BBC). Trump confirmed his envoys believe Putin would like to end the war, and latest headlines suggest Putin saw meeting as useful and necessary

    • In central banks, CEPR Paris Symposium (Thu-Wed) where Bank of France's Villeroy delivers a speech at 15:15CET and further remarks 19:15, Denmark central bank's Krogstrup, ECB's Lane panellists at 16:10 and Bundesbank's Mauderer speech at 17:20.

    • Economic data due today: Germany Oct factory orders, France Oct trade balance, industrial production, Italy Oct retail sales, Spain Oct industrial production, Eurozone Q3 final GDP, Norway Oct manufacturing production, UK Nov house price index - Halifax, Austria Nov PPI, Greece Q3 final GDP

    • In corporate news: UCB.BB (UCB) -- upgrades FY25 financial guidance amidst tobust year to date performance. (NORSE.NO) Norse Atlantic reports November passenger traffic +31% y/y. (SREN.SW) Swiss Re targets FY26 net income of $4.5B vs FactSet $4.77B; to introduce sustainable annual buyback programme in 2026 at $500M -- CMD.

  • Politics/Macro/World News

    • Merz's Coalition on Edge Ahead of Crunch German Pension Vote (BBG )

    • Russia's Putin to hold summit talks with India's Modi in Delhi (Reuters )

  • Top company news

    • Earnings/updates

      • SREN.SW (Swiss Re) -- targets FY26 net income of $4.5B vs FactSet $4.77B; to introduce sustainable annual buyback programme in 2026 at $500M -- CMD

      • DBG.FP (Derichebourg) -- reports FY net income €122.0M vs FactSet €109.0M [6 est, €92-122.7M]

    • M&A

      • PGHN.SW (Partners Group Holding) -- taking a look at Aidacare - The Australian

      • MOL.HB (MOL Hungarian Oil & Gas) -- acquires 304 MWp photovoltaic park in Mezocsát, Hungary

      • 028050.KS (Samsung E&A Co.) -- Samsung E&A looking at acquiring Cenviro - Korea Economic Daily

      • LINK (Interlink Electronics) -- discloses termination of previously announced letter of intent for acquisition transaction - 8-K

      • SRP.FP (SRP Groupe) -- Showroomprivé announces the signing of an agreement to sell The Bradery

    • Healthcare

      • GSK.LN (GSK Plc) -- FDA grants orphan drug designation to risvutatug rezetecan for small cell lung cancer

      • IPN.FP (Ipsen) -- confirms Beaufour's Beech Tree share transfer to Alasol Foundation

      • GALD.SW (Galderma Group) -- Galderma announces certification of Sculptra for body indications in the EU following its certification under the EU Medical Device Regulation (MDR).

      • NYXH.BB (Nyxoah) -- Transcript Intelligence: Nyxoah at Piper Sandler Healthcare Conference

    • Other

      • BN.FP (Danone) -- launches a buyback of 3.8M shares to offset the dilutive impact of its annual employee shareholder plans

      • RKT.LN (Reckitt Benckiser) -- Transcript Intelligence: Reckitt Benckiser Analyst Meeting - Emerging Markets

      • BA.LN (BAE Systems) -- Land & Armaments L.P. awarded $91.3M US Army contract modification

      • URW.FP (Unibail-Rodamco-Westfield) -- CEO Jean-Marie Tritant to step down as of 31-Dec-25

      • EN.FP (Bouygues) -- subsidiary Colas secures €420M contract for western section of the Vantaa tramway project in Finland

      • IDR.SM (Indra Sistemas) -- complete share buyback program

      • KCR.FH (Konecranes) -- Nuclear Equipment and Services awarded $49.7M U.S. Navy contract modification

      • Chevron Australia and Gorgon JV participants take FID on Gorgon Stage 3 development

      • Oil and gas industry group seeks year-round E15 sales; FCC approves AT&T spectrum purchase in intraday themes (4-Dec)

      • Regional Gaming Revenues - New York Sports Betting November 2025

  • Key rating changes

    • Upgrades

      • HSBC upgrades CVX; downgrades TTE.FP

      • Macquarie upgrades MIN.AU, NEM, NEM.AU, others (pre-ASX open)

      • STLAM.IM (Stellantis) -- to buy from neutral at Intesa Sanpaolo

      • TRST.LN (Trustpilot Group) -- to overweight from equal-weight at Morgan Stanley

    • Downgrades

      • HOLN.SW (Holcim) -- to underperform from neutral at BNP Paribas Exane (earlier, ~2 hrs ago)

      • SCA.B.SS (Svenska Cellulosa) -- to neutral from overweight at JPMorgan

      • ROCK.B.DC (Rockwool) -- to neutral from outperform at BNP Paribas Exane (earlier, ~2.5 hrs ago)

      • BIRG.ID (Bank of Ireland Group) -- to sector perform from outperform at RBC Capital Markets

      • MONY.LN (MONY Group) -- to equal-weight from overweight at Morgan Stanley

      • OEM.B.SS (OEM International) -- to hold from buy at Handelsbanken

    • Initiations

      • RS1.LN (RS Group plc) -- buy at Peel Hunt

      • GTT.FP (Gaztransport & Technigaz) -- neutral at Goldman Sachs

      • GRG.LN (Greggs) -- overweight at JPMorgan

      • LATO.B.SS (Latour Investment) -- sell at ABG Sundal Collier

    • Other Actions

      • AJB.LN (AJ Bell) -- transferred hold at Berenberg; prior rating was hold

  • Data

    • Nikkei (1.13%) to 50452.74

    • Hang Seng +0.30% to 26013.89

    • Shanghai Composite +0.67% to 3901.82

    • S&P futures +15.8 vs prior close of 6866.8

    • €-$ +0.0014 or +0.12% to 1.1659

    • $-¥ (0.52) or (0.34%) to 154.60

    • €-¥ (0.40) or (0.22%) to 180.23

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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