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 +0.48%, DAX +0.01%, CAC40 +0.23%

Feb 25 ,2026

  • Synopsis

    • European equity markets are set to open higher, amidst largely higher session in Asia and US futures also slightly higher. US dollar weakening, Asia currencies broadly higher led by AUD. Treasury yields higher across tenors, JGBs mixed. Crude futures inching higher, precious metals very strong as the dollar weakens. Iron ore and copper both higher. Cryptocurrencies rallying but off peaks.

    • Software bounce (though off best levels) the big story with some semblance of reprieve surrounding Anthropic enterprise agent event. Big takeaway has seemingly revolved around partnerships and collaboration over replacement. Also pushback against some of the more dire industry/macro scenarios in the Citrini report that was such a big overhang on risk sentiment on Monday.

    • Geopolitics seems to have moved to the back burner despite still elevated expectations for a limited US strike on Iran. Chancellor Merz starts visit to China (through Thu) in Beijing the agenda includes meetings with President Xi Jinping and Premier Li Qiang, with post meeting joint press conf planned. In UK, after MP's questions on Scotland there's weekly PMQs at 12noon GMT followed by a general debate on Ukraine.

    • A busy day for earnings with E.ON SE (EOAN.GR), Fresenius (FRE.RG), Heidelberg Materials (HEI.GR) reporting Q4/ FY numbers out of DACHS, HSBC Holdings (HSBA.LN) also reports; in Italy, Telecom Italia (TIT.IM) posted FY numbers and Leonardo (LDO.IM) released prelim FY EBITA €1.75B vs guidance ~€1.66B and FactSet €1.69B.

    • In macro, key releases from Germany include Q4 final GDP, Mar consumer confidence - GfK; out of France Feb consumer confidence due and Eurozone Jan final CPI, Switzerland Feb economic sentiment index, expectations - ZEW also due.

  • Politics/Macro/World News

    • ECB set for extended hold in 2026 (FT )

    • SNB chairman expects Swiss inflation to pick up (Reuters )

    • Germany wants deeper, fairer economic cooperation with China, Chancellor Merz tells Chinese premier Li (Reuters )

  • Top company news

    • Earnings/updates

      • EOAN.GR (E.ON SE) -- FY adj net income €3.02B vs cons €2.99B; guidance "upper part of guidance range €2.85 to €3.05B"

      • HSBA.LN (HSBC Holdings) -- FY EPS $1.20 vs cons $1.16

      • FRE.GR (Fresenius) -- Q4 Core EPS €0.78 vs cons €0.80; dividend +5% y/y, guides 2026

      • TIT.IM (Telecom Italia) -- FY EBITDA €4.35B vs FactSet €4.35B [11 est, €4.32-4.37B]

      • HEI.GR (Heidelberg Materials) -- Q4 operating EBIT (RCO) €921M vs cons €922M; guides FY26

      • LDO.IM (Leonardo) -- prelim FY EBITA €1.75B vs guidance ~€1.66B and FactSet €1.69B

      • SDZ.SW (Sandoz Group) -- FY core EPS $3.64 vs FactSet $3.40 [17 est, $3.02-4.20]; hikes divi by 33% and guides FY26

      • ITP.FP (Interparfums) -- FY net income attributable €126.6M vs FactSet €126.9M [12 est, €119-132.4M]

      • TEMN.SW (Temenos) -- Q4 EPS $1.32 vs FactSet $1.30 [7 est, $1.01-1.61]

      • ADEN.SW (Adecco Group) -- Q4 EPS €0.76 ex-items vs cons €0.71

      • SPM.IM (Saipem) -- Q4 adj net income €89M vs StreetAccount €112.1M

      • NDX1.GR (Nordex) -- Q4 net income €183.8M vs FactSet €151.0M [3 est, €108.0-196M]

      • SK.FP (SEB) -- FY net income €245M vs FactSet €231.0M [11 est, €177.8-265.8M]; comments on FY26 outlook; announces Rebound Plan; would impact up to 2,100 positions worldwide

      • VPK.NA (Royal Vopak) -- Q4 EPS €0.94 ex-items vs FactSet €1.00 [3 est, €0.70-1.55]; announces shareholder distributions program of ~€1.7B through year-end 2030

      • BB.FP (Bic) -- FY adj EPS €4.74 vs FactSet €4.70 [6 est, €4.09-5.23]

      • BVI.FP (Bureau Veritas) -- FY adj EPS €1.42 vs cons €1.43; hikes divi by ~2%, announces €200M buyback and guides FY26

      • NKT.DC (NKT A/S) -- FY net income €275M vs FactSet €217.1M [12 est, €207-229.2M]

      • ATE.FP (Alten) -- FY net income €106.9M, (43%) vs year-ago €186.4M

      • KOA.NO (Kongsberg Automotive) -- Q4 net income €2.8M vs FactSet €1.5M [2 est, (€0.4)-3.3M]

      • CFEB.BB (Cie d'Entreprises CFE) -- FY net income attributable €33.5M vs FactSet €25.0M [5 est, €21-28.5M]

      • IWS.NO (Integrated Wind Solutions) -- Q4 net income NOK5.7M vs year-ago NOK4.4M

      • VOW.NO (Vow ASA) -- Q4 EPS (NOK0.4) vs year-ago (NOK0.7); obtains covenant waivers for DNB facility for 1Q26 and 2Q26

      • ODL.NO (Odfjell Drilling) -- Q4 EPS $0.19 vs FactSet $0.18 [5 est, $0.15-0.24]; raises dividend

      • VRLA.FP (Verallia) -- FY net income €93.5M vs FactSet €164.8M [10 est, €123-265.9M]

      • GF.SW (Georg Fischer) -- FY net income CHF103M vs FactSet CHF224.4M [6 est, CHF82-368M]; guides 2026

      • OPM.FP (OPmobility) -- FY net income €185M vs FactSet €180.8M [10 est, €150.6-222M]

      • IPS.FP (Ipsos) -- FY adj net income €240.4M vs FactSet €218.5M

      • PUBLI.NO (Public Property Invest) -- Q4 EPS NOK0.32 vs FactSet NOK0.21 [3 est, NOK0.09-0.34]

      • PRS.SM (Promotora de Informaciones) -- FY net income (€27M) vs FactSet (€17.2M) [4 est, (€23)-(7M)]

      • 4FZ.GR (Orbia Advance Corp SAB de CV) -- Q4 EPS ($0.08) vs year-ago ($0.03)

      • GRE.SM (Grenergy Renovables) -- Q4 net income €41.7M vs FactSet €48.0M [4 est, €39.6-53.9M]

      • ENC.SM (ENCE Energia y Celulosa) -- Q4 net income (€32.4M) vs FactSet (€18.2M) [3 est, (€28)-(11.5M)]

      • ADOC.FP (Adocia) -- Q4 revenue €38K vs year-ago €9.3M

      • GSF.NO (Grieg Seafood) -- Q4 EPS NOK3.80 vs year-ago NOK0.40; guides Q1 GSF Rogaland farming cost to increase

      • IRLAB.A.SS (IRLAB Therapeutics) -- Q4 EPS (SEK0.29) vs year-ago (SEK0.10)

    • M&A

      • PEN.NO (Panoro Energy) -- Kosmos Energy (KOS) announces sale of Equatorial Guinea production assets to Panoro Energy for up to $219.5M

      • JST.GR (JOST Werke) -- launches cash capital increase; net proceeds will further enhance JOST's financial flexibility to execute value-accretive M&A opportunities

      • WLN.FP (WORLDLINE) -- announces strategic sale of its Indian payment activities to BillDesk

    • Healthcare

      • GSK.LN (GSK Plc) -- Frontier Biotech announces siRNA license agreement worth up to $1B with GSK (earlier, 05:55ET)

      • ROG.SW (Roche Holding) -- NICE recommends Genentech's Avastin (and biosimilars) with fluoropyrimidine-based chemotherapy to treat metastatic colorectal cancer

      • GALD.SW (Galderma Group) -- Galderma announces triple approval of new state-of-the-Art Restylane syringe in the EU, the US. and Canada

      • BSLN.SW (Basilea Pharmaceutica) -- receives further $6M from BARDA to continue development of novel antibiotic ceftibuten-ledaborbactam

      • AB.FP (AB Science) -- announces identification of a potential biomarker for assessing the activity of masitinib in pathological microglial involvement in ALS

      • FYB.GR (Formycon) -- announces Dahlia PK study successfully met its primary study objective

    • Other

      • BA.LN (BAE Systems) -- awarded $500M contract for Paladin Self-Propelled Howitzers

      • TIT.IM (Telecom Italia) -- announces proposed €400M share buyback plan alongside 1-for-10 reverse stock split; intends for shareholder remuneration of ~50% expected proceeds from Sparkle transaction

      • HAG.GR (HENSOLDT) -- extends CEO Oliver Dörre's contract ahead of schedule by five years until end of 2031

      • NORBT.NO (Norbit) -- in advanced negotiations with a European client regarding a NOK 115M contract

      • BMPS.IM (Banca Monte dei Paschi di Siena) -- Italy to not take part in selecting new board at Monte dei Paschi - Reuters

      • IGD.IM (IGD) -- signs €165M secured loan agreement with a pool of leading national and international lenders

      • GF.SW (Georg Fischer) -- releases 2025 sustainability report

  • Key rating changes

    • Upgrades

      • CBK.GR (Commerzbank) -- to market perform from underperform at Keefe, Bruyette & Woods

      • ELE.SM (Endesa) -- to neutral from underperform at BNP Paribas Exane

    • Downgrades:

      • BEI.GR (Beiersdorf) -- to hold from buy at Deutsche Bank

      • STAN.LN (Standard Chartered) -- to sell from hold at Shore Capital Stockbrokers

      • SVT.LN (Severn Trent) -- to hold from buy at Kepler Cheuvreux

      • UU.LN (United Utilities Group) -- to hold from buy at Kepler Cheuvreux

    • Initiations

      • ACT.GR (AlzChem Group) -- buy at Jefferies

      • NORBT.NO (Norbit) --buy at Stifel

  • Data

    • Nikkei +2.20% to 58583.12

    • Hang Seng +0.57% to 26742.17

    • Shanghai Composite +0.61% to 4142.40

    • S&P futures +2.8 vs prior close of 6903.8

    • €-$ +0.0031 or +0.26% to 1.1806

    • $-¥ (0.18) or (0.12%) to 155.73

    • €-¥ +0.32 or +0.17% to 183.85

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