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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.11%, DAX30 +0.09%, CAC40 (0.15%)

Aug 21 ,2024

  • Synopsis

    • European equity markets are set for a mixed-to-higher open amidst lower Asian trading Wednesday. Hang Seng leading China market declines with JD.com a notable decliner. Japan equities pulling back following Tuesday's rally though off worst levels. Australian and Taiwan shares also lower. S&P 500 futures up slightly afterhours.

    • Cologne Higher Regional Court due to announce decision on compensation for former Postbank shareholders in dispute with Deutsche Bank (DBK.GR). Gamescom's opening night (computer and video game trade fair) official start Thu (through Sun). Norwegian Offshore Directorate to publish new resource report at 10:00CET.

    • In central banks, Iceland central bank interest rate decision and latest economic forecasts. No change is expected in the 9.25% benchmark interest rate. Bank of Italy's Panetta speaks at 13:00CET at the Rimini Meeting on 'Debt sustainability and economic development'. FOMC meeting (31-Jul) minutes will be released after EU markets close.

    • Macro data due include UK Jul public sector borrowing.

    • In corporate news, SoftwareONE Holding (SWON.SW) reported H1 EPS CHF0.39 vs FactSet CHF0.35 and lowered FY revenue guidance to 7-9% ccy growth whilst BKW (BKW.SW) reported H1 net income CHF362.5M vs FactSet CHF326.5M and raised FY EBIT guidance. Aeroport de Paris (ADP.FP) is out with Total Paris Aeroport July traffic 35.80M, +4.7% y/y. In the Nordics, Mowi (MOWI.NO) reported Q2 EPS €0.30 vs FactSet €0.29 whilst BerGenBio (BGBIO.NO) issued Q2 EPS (NOK1.39) vs FactSet (NOK1.25).

  • Macro

    • Rachel Reeves planning to raise taxes and cut spending in October budget - Guardian

    • UK chancellor plans to raise social rents to boost affordable housebuilding - FT

  • Top company news

    • Earnings/updates

      • Benelux:

        • AVTX.NA (Avantium) -- reports H1 net income (€14.8M) vs year-ago (€16.6M)

        • ASRNL.NA (ASR Nederland) -- reports H1 organic capital creation €658M vs consensus €649M

      • DACHs:

        • SWON.SW (SoftwareONE Holding) -- reports H1 EPS CHF0.39 vs FactSet CHF0.35 [1 est]; lowers FY revenue guidance to 7-9% ccy growth

        • AFP.SW (Aluflexpack) -- reports H1 net income €2.5M vs year-ago €1.3M

        • WAB0.GR (Articore Group) -- reports FY NPAT (A$11.6M) vs year-ago (A$54.2M)

        • BKW.SW (BKW AG) -- reports H1 net income CHF362.5M vs FactSet CHF326.5M [2 est, CHF293.1-359.8M]; raises FY EBIT guidance

        • SENS.SW (Sensirion Holding) -- reports H1 net income (CHF36.0M) vs FactSet (CHF33.3M) [1 est]; CFO Matthias Gantner to retire on 31-Dec

        • IMPN.SW (Implenia) -- reports H1 net income attributable CHF26.2M vs FactSet CHF24.4M [1 est]; Reaffirms FY guidance; announces CEO transition in 2025

        • KTCG.AV (Kapsch TrafficCom) -- reports Q1 EPS (€0.69) vs year-ago (€0.45)

      • France:

        • ADP.FP (Aeroport de Paris) -- reports Total Paris Aeroport July traffic 35.80M, +4.7% y/y

      • Nordics:

        • MOWI.NO (Mowi) -- reports Q2 EPS €0.30 vs FactSet €0.29 [9 est, €0.26-0.33]

        • BGBIO.NO (BerGenBio) -- reports Q2 EPS (NOK1.39) vs FactSet (NOK1.25) [1 est]

        • TCM.DC (TCM Group) -- reports Q2 net income DKK18.9M vs FactSet DKK10.7M [2 est, DKK9.5-12M]; reaffirms FY guidance

        • LSG.NO (Lerøy Seafood Group) -- reports Q2 EPS NOK0.77 vs FactSet NOK1.03 [8 est, NOK0.90-1.14]

        • GSF.NO (Grieg Seafood) -- reports Q2 EPS (NOK6.20) vs FactSet NOK0.46 [7 est, NOK0.10-1.05]

        • ODF.NO (Odfjell) -- reports Q2 EPS $1.12 vs FactSet $0.95 [3 est, $0.93-0.96]

        • DOFG.NO (DOF Group) -- reports Q2 net income $6M vs year-ago $103M

        • ZAP.NO (Zaptec) -- reports Q2 EPS NOK0.21 vs FactSet (NOK0.02) [1 est]

        • ODL.NO (Odfjell Drilling) -- reports Q2 net income attributable $16.4M vs FactSet $13.8M [6 est, $4-21M]

        • VAR.NO (Vår Energi) -- announces target production start for Balder X development project has been moved to Q2 2025

        • AUSS.NO (Austevoll Seafood) -- reports Q2 Adj EPS NOK5.10 vs FactSet NOK2.49 [6 est, NOK2.35-2.70]

        • MULTI.NO (Multiconsult) -- reports Q2 EPS NOK5.36 vs FactSet NOK4.04 [4 est, NOK3.70-4.32]

        • NYKD.NO (Nykode Therapeutics) -- reports Q2 net income ($7.4M) vs year-ago ($9.2M)

        • CLOUD.NO (Cloudberry Clean Energy) -- reports Q2 EPS NOK0.42 vs year-ago NOK1.12

        • KAR.SS (Karnov Group) -- reports Q2 net income SEK0.8M vs year-ago (SEK26.2M)

    • M&A

      • SCF.IM (Salcef Group) -- Morgan Stanley Infrastructure Partners' agreement to acquire a stake in Salcef obtains all antitrust and regulatory approvals

      • ADKO.AV (Addiko Bank) -- Nova Ljubljanska Banka announces voluntary public takeover offer to acquire control over Addiko Bank was not successful

      • EQT.SS (EQT AB) -- EQT to invest in Compass; terms undisclosed

      • SRS.IM (Saras) -- Varas announces final results of tender offer for Saras; to hold 88.2%

      • NEOEN.FP (Neoen) -- puts Australian assets back in front of potential bidders ahead of two-stage auction - Australian Financial Review

      • NHOA.FP (NHOA SA) -- TCC Group raises acquisition price for remaining NHOA S.A shares to a maximum of €1.25/sh vs prior €1.10/sh

      • PTT CEO tells press briefing company in talks to sell minority stakes in PTT Global Chemical, Thai Oil and IRPC - Bloomberg

    • Healthcare

      • BSLN.SW (Basilea Pharmaceutica) -- announces strong Cresemba (isavuconazole) sales performance in Asia Pacific and China has triggered $1.25M milestone payment to company

    • Other

      • MTG.SW (Meier Tobler Group) -- launches second 2024 tranche of fixed price buyback at CHF27.00/sh

  • Key rating changes

    • Upgrades

      • MONC.IM (Moncler) -- outperform from market perform at Bernstein

      • ARBN.SW (Arbonia) -- buy from hold at Kepler Cheuvreux

      • SALM.NO (Salmar) -- long-term recommendation upgraded to outperform from market perform at Handelsbanken

      • KOJAMO.FH (Kojamo) -- neutral from sell at Van Lanschot Kempen

      • Morgan Stanley upgrades DEMANT.DC; downgrades SOON.SW

      • ELM.LN (Elementis) -- to overweight from equal weight at Barclays

      • ENT.LN (Entain) -- CORRECTION: to buy from hold at CBRE Securities

      • UCB.BB (UCB) -- to overweight from neutral at JPMorgan

      • VCT.LN (Victrex) -- to hold from underperform at Jefferies

      • VOE.AV (Voestalpine) -- to overweight from equal-weight at Morgan Stanley

    • Downgrades

      • MING.NO (SpareBank 1 SMN) -- hold from buy at Kepler Cheuvreux

  • Data

    • Nikkei (0.41%) to 37907.70

    • Hang Seng (1.02%) to 17332.77

    • Shanghai Composite (0.32%) to 2857.57

    • S&P futures +6.0 vs prior close of 5619.8

    • €-$ (0.0012) or (0.11%) to 1.1120

    • $-¥ +0.40 or +0.27% to 145.67

    • €-¥ +0.26 or +0.16% to 161.94

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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