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 (1.33%), DAX (1.91%), CAC40 (0.70%)

Mar 23 ,2026

  • Synopsis

    • European equity markets indicate a sharply lower open mirroring sentiment across Asian markets. South Korea, Japan, Hong Kong and Taiwan the heaviest decliners with chip and related tech stocks under acute pressure. Nikkei hit year-to-date low and Hang Seng lowest since mid-2025. S&P 500 futures extending Friday declines. Bond markets under pressure with JGB and Treasury yield curves steepening. Crude swinging higher following initially tepid start. Gold and silver experiencing heavy losses. Dollar strongest against Korean, steady against majors. Bitcoin down to two-week low.

    • Iran conflict threatening to escalate after Trump gave 48-hour deadline to reopen Strait of Hormuz or US would begin striking Iran's power plants, prompting Tehran to threaten retaliation against Gulf energy, IT and desalination infrastructure. Some skepticism whether threats will be carried out given consequences and Bessent said sometimes have to escalate to deescalate. Signs US allies moving towards providing support to reopen Strait of Hormuz as US continues military efforts to unblock the waterway with strikes along shoreline, and more reports Trump weighing troop deployment.

    • Iran conflict continues to drive market angst amid risk of meaningful impact on Gulf energy supplies should US and Tehran carry out their latest threats. Elevated energy prices having more pronounced effects on bond markets with yields rising sharply as rise in inflation expectations, drives hawkish rate repricing. Central banks are becoming more attuned to upside inflation risks, leading markets to price in rate hikes at Fed, ECB and BoE. At same time, prospect of higher energy-driven inflation fanning concerns about demand destruction

    • Over the weekend, in France, second round of municipal elections show Socialists and allies secure the big four cities - Paris, Marseille, Lyon and Lille, while far-right Nationals made gains in mid-sized and smaller towns. In Italy, people are voting on whether to change its constitution. In macro releases out of the region today, Jan Spain trade balance is due at 9:00 GMT, followed by Ireland Feb PPI at 11:00 GMT and Eurozone Mar flash consumer confidence at 15:00 GMT.

    • In corporate news of note, focus on M&A as Poste Italiane (PST.IM) launches offer to acquire Telecom Italia (TIT.IM) for ~€10.8B. Delivery Hero (DHER.GR) divests foodpanda business in Taiwan to Grab for $600M on a cash and debt free basis.

  • Politics/Macro/World News

    • Middle East conflict:

      • US and allies weigh efforts to reopen Strait of Hormuz (CBS News, BBC News)

      • US, Iran threaten to escalate conflict, Trump says close to meeting objectives (Reuters, Bloomberg)

    • France:

      • French far right claims momentum for presidency after local elections (Politico )

    • Germany:

      • German Chancellor Merz's conservatives set to win state election (Reuters )

    • Geopolitics:

      • Japan and Germany to deepen cooperation in defense (Nikkei)

  • Top company news

    • Earnings/updates

      • SZG.GR (Salzgitter Group) -- confirms prelim FY25 and FY26 outlook as per 10-Feb update; announces €0.20/sh dividend

      • DIA.IM (Diasorin) -- FY net income €223M ex-items vs FactSet €179.4M [11 est, €172.5-184M]

      • HBH.GR (Hornbach Holding) -- prelim Q4 adj EBIT (€34.8M) vs FactSet (€37.4M) [2 est, (€39.3)-(35.5M)]

      • ELPE.GA (HELLENiQ ENERGY Holdings) -- provides update on potential effects of the ongoing crisis in the Persian Gulf

      • ELO.NO (Elopak) -- trading update: expects Q1 revenue below €300M vs FactSet €329.4M [5 est, €325.1-339M]

    • M&A

      • TIT.IM (Telecom Italia) -- Poste Italiane launches offer to acquire Telecom Italia for ~€10.8B

      • DBK.GR (Deutsche Bank) -- Kotak Mahindra Bank selected as preferred buyer for Deutsche Bank's India retail business in deal valued at INR45B (€415.5M) - Economic Times

      • DHER.GR (Delivery Hero) -- divests foodpanda business in Taiwan to Grab for $600M on a cash and debt free basis

      • SOON.SW (Sonova Holding) -- plans Consumer Hearing divestment to fully focus on core hearing care; targets revenues CHF6B by FY2030/31; confirms FY 2025/26 outlook with growth expected at low end of guidance

      • SPI.LN (Spire Healthcare Group)

        • Bridgepoint Advisers issues statement confirming it does not intend to make an offer for Spire Healthcare Group

        • Triton also confirms that it does not intend to make firm offer for Spire Healthcare

      • JUVE.IM (Juventus Football Club) -- Juventus Football Club acquires J|hotel property for €23M

      • +TAP.PL (Transportes A+â-¬reos Portugueses S.A.) -- IAG said to be leaning toward ending bid to acquire TAP Air Portugal -- Bloomberg

    • Healthcare

      • NOVN.SW (Novartis)

        • Novartis's J-SAMIT trial of Entresto meets primary endpoint

        • presents new data on early symptom relief and long-term control in complex skin diseases at AAD 2026

      • BAYN.GR (Bayer) -- announces first approval for low-dose MRI contrast agent in Japan

      • BSLN.SW (Basilea) -- announces start of first‑in‑human study of novel antibiotic BAL2420

      • EVT.GR (Evotec) -- Just-Evotec Biologics Inc selected by BARDA for up to $10M filovirus antibody manufacturing program

      • GALD.SW (Galderma Group) -- Galderma receives US FDA approval for Restylane Contour for the correction of temple hollowing

      • ALSEN.FP (Sensorion) -- six-month update from the Audiogene Phase 1/2 Trial of SENS-501 and Advances GJB2-GT

    • Other

      • ORA.FP (Orange) -- board appoints Frédéric Sanchez as Chairman

      • BMPS.IM (Banca Monte dei Paschi di Siena) -- Monte dei Paschi to discuss whether Luigi Lovaglio can remain CEO at board meeting on Monday 23-Mar - Bloomberg

      • NDX1.GR (Nordex) -- receives new order for supply and installation of 11 N175/6.X wind turbines for the Jasikovo wind farm in eastern Serbia totaling 70 MW

      • SAMPO.FH (Sampo) -- receives approval for its extended Group Partial Internal Model

  • Key rating changes

    • Upgrades

      • BEAN.SW (BELIMO Holding) -- to neutral from sell at Van Lanschot Kempen

      • DAL.IM (Datalogic) -- to buy from hold at Kepler Cheuvreux

      • KBX.GR (Knorr-Bremse) -- to buy from hold at Metzler Capital Markets

      • SAGA.LN (Saga Plc) -- to buy from hold at Peel Hunt

      • TGYM.IM (Technogym) -- to overweight from neutral at Cantor Fitzgerald

    • Downgrades

      • SDZ.SW (Sandoz Group) -- to sector perform from outperform at RBC Capital Markets

      • TEP.FP (Teleperformance) -- to neutral from buy at Citi

      • SNI.NO (Stolt-Nielsen) -- to hold from buy at DNB Carnegie

    • Other Actions

      • HBAN.SW (Helvetia Baloise Holding) -- reinstated overweight at JPMorgan; prior rating was neutral

      • GIGA.NO (Gigante Salmon) -- initiated buy at Pareto

      • GF.SW (Georg Fischer) -- initiated buy at Van Lanschot Kempen

      • NTI.NO (Norsk Titanium) -- initiated buy at Pareto

  • Data

    • Nikkei (3.48%) to 51515.49

    • Hang Seng (4.09%) to 24242.23

    • Shanghai Composite (3.92%) to 3802.05

    • S&P futures (50.3) vs prior close of 6559.0

    • €-$ (0.0006) or (0.05%) to 1.1534

    • $-¥ +0.14 or +0.09% to 159.45

    • €-¥ +0.04 or +0.02% to 183.88

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

    • BNY.com Terms of Use Privacy Cookie Notice Manage Cookies Disclaimer CUSIP Disclaimer

    • ©  2025 The Bank of New York Corporation. Depositary Receipt business and services are conducted through The Bank of New York.