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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.13%, DAX30 +0.06%

Aug 09 ,2024

  • Synopsis

    • European indices are set to open slightly higher as Asian equities advanced most of the day and are now losing traction with the Nikkei negative into the close. S&P 500 futures flat afterhours.

    • US equities ended higher in Thursday trading, just off best levels, with S&P 500 logging its best daily performance since Nov-22. Stocks reversed Wednesday's declines and cut most of the week's losses, though S&P/Nasdaq still on pace for fourth-straight weekly decline.

    • Macroeconomic releases due today include: Germany Jul final CPI, France Q2 unemployment rate, Norway Jul CPI, PPI, Italy Jul final CPI, trade balance, Sweden Jun industrial production, Netherlands Jun manufacturing production, Denmark Jun trade balance, Switzerland Jul consumer confidence - SECO, Greece Jul CPI, Portugal Jul final CPI

    • In corporate news: (G.IM) Assicurazioni Generali reports H1 net income €2.05B vs consensus €2.09B; launches up to €500M share buyback. (UNI.IM) Unipol Gruppo reports H1 net income €511M, +23% vs year-ago €416M. (FAA.GR) Fabasoft reports Q1 EPS €0.11 vs year-ago €0.15. (ROS.AV) Rosenbauer International reports H1 EPS (€1.00) vs year-ago (€1.80). (LXS.GR) (Lanxess) -- reports Q2 net income (€16M) vs FactSet (€37.1M) [3 est, (€47.4)-(17M)]

    • Trading Update: Bellway (BWY.LN)

  • Politics/Macro/World News

    • Pound's Big Rally Fizzles as Rate Cut, Market Turmoil Take Toll (BBG)

    • Unwinding of yen 'carry trade' still threatens markets, say analysts (FT)

  • Top company news

    • Earnings/updates

      • RMV.LN (Rightmove) -- announces that OpenRent has entered into a new membership agreement. FY guidance remains as stated at H1 2024 results.

      • LXS.GR (Lanxess) -- reports Q2 net income (€16M) vs FactSet (€37.1M) [3 est, (€47.4)-(17M)]

      • OTP.HB (OTP Bank Nyrt) -- reports Q2 EPS Ft1,009. vs year-ago Ft1,089

      • SBS.GR (Stratec) -- reports Q2 EPS €0.35 ex-items vs FactSet €0.33 [1 est]; reaffirms FY guidance

      • MOL.HB (MOL Hungarian Oil & Gas) -- reports Q2 EPS Ft224.40 ex-items vs FactSet Ft183.42 [2 est, Ft180.16-186.69]

      • OET.NO (Okeanis Eco Tankers) -- reports Q2 EPS $1.23 ex-items vs FactSet $1.03 [6 est, $0.47-1.31]

    • M&A

      • JBT (John Bean Technologies) -- discloses shareholders approve proposed combination with Marel

      • SRS.IM (Saras) -- Vitol (through Varas) extends acceptance period in connection with offer for Saras to 16-Aug (post EU close 8-Aug)

      • SHUR.BB (Shurgard Self Storage) -- signs new purchase agreement in Cologne area (Germany); total project cost of €16.2M, yield at maturity c. 9%

      • 500295.IN (Vedanta) -- puts plan to sell steel business on hold - Bloomberg (8-Aug, 14:33 IST)

      • DOV.IM (doValue) -- shareholders to vote at EGM on 11-Sep on issues relating to the acquisition of Gardant as well as 1 for 5 reverse stock split (post EU close 8-Aug)

    • Other

      • SPSN.SW (Swiss Prime Site) -- Swiss Prime Site upgraded to buy from hold at Vontobel on 7-Aug, pre-open

      • SCHA.NO (Schibsted) -- approves second tranche of the special cash dividend

      • FLOW.NA (Flow Traders) -- completes the €15M share buyback extension program originally announced in Oct-22

  • Key rating changes

    • Upgrades

      • JET.LN (Just Eat Takeaway.com) -- to overweight from equal-weight at Morgan Stanley

      • SPSN.SW (Swiss Prime Site) -- to buy from hold at Vontobel (7-Aug, pre-open)

    • Initiations

      • GALD.SW (Galderma Group) -- overweight at JPMorgan

    • Other Actions

      • NOBI.SS (Nobia) -- short-term recommendation transferred hold at Handelsbanken; prior rating was hold

  • Data

    • Nikkei (0.39%) to 34693.68

    • Hang Seng +1.40% to 17128.86

    • Shanghai Composite (0.02%) to 2869.22

    • S&P futures (8.3) vs prior close of 5348.3

    • €-$ +0.0002 or +0.02% to 1.0919

    • $-¥ (0.25) or (0.17%) to 146.99

    • €-¥ (0.29) or (0.18%) to 160.52

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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