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Back to Daily DR Market Summary

StreetAccount Summary - EU Pre-Open Indications: Futures: FTSE +0.02%, DAX +0.04%, CAC40 (0.17%)

Jan 23 ,2026

  • Synopsis

    • European indices are set to open close to unchanged with Asian equities mostly higher Friday. Modest gains throughout the region but most will end with w/w gains. BOJ meeting was the main event in Asia. While rates were unchanged as widely expected, more of the attention going to Governor Ueda's press conference particularly for views on the recent surge in JGB yields.

    • US equities finished higher in Thursday trading, though ended off midday highs.

    • Friday sees, in central banks, BOE's Greene speech at 9:30CET at event hosted by Resolution Foundation, title 'Worlds apart?'. Bundesbank's Theurer lecture at 19:00CET at event hosted by Reinhold Maier Foundation, title 'Financial Stability in Uncertain Times'.

    • Macroeconomic releases due today include: Eurozone, France, Germany, UK Jan flash manufacturing/services PMIs, France Jan business survey, UK Dec retail sales, Jan consumer confidence - GfK, Sweden Dec unemployment rate

    • Notable earnings earlier today included: ERIC.B.SS Telefonaktiebolaget LM Ericsson reports Q4 net income SEK8.60B vs FactSet SEK6.61B; hikes divi by ~5% and announces SEK15B buyback. BION.SW BB Biotech reports preliminary Q4 net income CHF472M vs year-ago CHF60.0M. MIKN.SW Mikron Holding reports preliminary FY net sales CHF381.9M vs year-ago CHF374.1M

    • UK Trading Update: Record (REC.LN)

  • Politics/Macro/World News

    • Donald Trump's tariff 'shock regime' tests Wall Street's mettle (FT )

    • US Seeks Carte Blanche for Military Presence in Greenland (BBG )

  • Top company news

    • Earnings/updates

      • ERIC.B.SS (Telefonaktiebolaget LM Ericsson) -- reports Q4 net income SEK8.60B vs FactSet SEK6.61B; hikes divi by ~5% and announces SEK15B buyback

      • BAS.GR (BASF SE) -- reports preliminary FY25 adjusted EBITDA €6.6B vs prior guidance €6.7B-7.1B and FactSet €6.87B [19 est, €6.05-8.33B]

      • TRUE.B.SS (Truecaller) -- reports preliminary Q4 net income SEK60.4M vs FactSet SEK63.0M [6 est, SEK41-128M]

      • SFSN.SW (SFS Group) -- reports preliminary FY revenue CHF3.06B vs FactSet CHF3.02B [7 est, CHF3.01-3.04B]

      • BION.SW (BB Biotech) -- BB Biotech reports preliminary Q4 net income CHF472M vs year-ago CHF60.0M

      • GURN.SW (Gurit Holding) -- reports FY revenue CHF319.6M vs FactSet CHF310.5M [3 est, CHF303.7-319.3M]

    • M&A

      • SHEL.LN (Shell Plc) -- considering sale of some or all assets in Argentina's Vaca Muerta Shale play -- Reuters, citing sources

      • NESN.SW (Nestle) -- moving ahead with sale of stake in €5B water business - Bloomberg

      • ML.FP (Cie Generale des Etablissements Michelin SA) -- completes the acquisition of Cooley Group

      • WOSG.LN (Watches of Switzerland Group) -- announces acquisition of four new US showrooms

      • BEZ.LN (Beazley) -- CEO says Zurich's latest offer was not insulting but materially undervalues and its longer-term prospects as an independent company - London Times

      • OERL.SW (OC Oerlikon Corp.) -- The Watches of Switzerland Group has completed the acquisition of Deutsch & Deutsch. Terms were not disclosed

      • WAC.GR (Wacker Neuson) -- Discussions between Wacker Neuson SE and Doosan Bobcat Inc.(241560.KS) regarding the acquisition of a majority stake and takeover of Wacker Neuson SE will not be continued

      • SCANFL.FH (Scanfil) -- completes acquisition of MB Elettronica in Italy

      • JIN.NO (Jinhui Shipping & Transportation) -- $14.4M sale of vessel announced 2-Dec has been canceled

      • TikTok establishes JV in US

      • Revolut abandons plans to acquire US lender and will instead apply for American banking license - FT

    • Healthcare

      • MRK (Merck) -- Follow-up: FDA approves sNDA for Verquvo, new starting dose

      • PCVX (Vaxcyte) -- Advances adult and infant programs for VAX-31

      • BICO.SS (BICO Group) -- BICO company Biosero launches GoSimple

    • Other

      • SIE.GR (Siemens AG) -- Siemens supervisory board chairman Snabe intends to remain in role beyond AGM in February and is not expected to hand over to successor until early 2027 - Handelsblatt, citing sources

      • FR.FP (Valeo SE) -- and NATIX announce partnership to build one of the largest open-source multi-camera World Foundation Model

      • Trump sues JPM for alleged debanking; Tesla tests unsupervised robotaxi rides in Austin in intraday themes (22-Jan)

  • Key rating changes

    • Upgrades

      • Barclays upgrades HLN.LN, OR.FP; downgrades HEN3.GR, LISN.SW

      • Goldman Sachs upgrades CAST.SS, COL.SM

      • Jefferies initiates ELI.BB, TRN.IM; upgrades SVT.LN; downgrades PNN.LN

      • Jefferies upgrades AMV0.GR, SHA0.GR

      • Morgan Stanley upgrades PNN.LN; downgrades SVT.LN, UU.LN

      • FORT.LN (Forterra Plc) -- to buy from add at Peel Hunt

    • Downgrades

      • ADS.GR (Adidas) -- to sector perform from outperform at RBC Capital Markets

      • TW.LN (Taylor Wimpey) -- to underweight from equal-weight at Morgan Stanley

      • INVE.B.SS (Investor) -- to hold from buy at Pareto

      • SBO.AV (SBO AG) -- to hold from buy at Berenberg

      • FLS.DC (FLSmidth & Co) downgraded to hold from buy at Handelsbanken

    • Other Actions

      • WLN.FP (Worldline) -- resumed underweight at Morgan Stanley

      • TREL.B.SS (Trelleborg) initiated overweight at JPMorgan

  • Data

    • Nikkei +0.20% to 53797.55

    • Hang Seng +0.35% to 26723.08

    • Shanghai Composite +0.42% to 4139.81

    • S&P futures +16.3 vs prior close of 6945.0

    • €-$ (0.0010) or (0.09%) to 1.1746

    • $-¥ +0.30 or +0.19% to 158.72

    • €-¥ +0.20 or +0.11% to 186.42

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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