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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE closed, DAX +1.52%, CAC (0.10%)

May 26 ,2025

  • Synopsis

    • European equity markets are set to open mixed. Of note, markets in the UK and USA (Memorial Day) are closed for public holidays. Asian equities mixed Monday. Hong Kong leading China market declines. Japan and Korean markets outperforming while Australia and Taiwan flat. S&P 500 futures swinging higher after Trump extended EU tariff deadline. JGB yields steady following last week's backup while Aussie rates pulling lower. Dollar flat against yen, weakening against euro and China proxies (AUD and NZD). Crude and copper strengthening while gold pulling back. Bitcoin picking up gains after retreating earlier from record high.

    • In geopolitical developments, on Sunday President Trump posted on Truth Social that he is extending EU tariff deadline from 1-Jun to 9-Jul - same date his reciprocal tariff pause is set to expire (Bloomberg, FT). Said he agreed to an extension following call with European Commission president Ursula von der Leyen, who he said expressed desire to get down to serious negotiations. On Friday Trump threatened 50% tariffs on EU from 1-Jun (vs original 20% reciprocal tariff), claiming negotiations were going nowhere (FT).

    • On today's agenda, Finland hosts an informal summer meeting of Nordic PMs (Iceland's Frostadóttir, Norway's Støre, Sweden's Kristersson, Denmark's Frederiksen, Faroe Islands' Johannesen and Greenland's Nielsen, also Secretary General of the Nordic Council of Ministers, Ellemann, themes of the meeting are competitiveness and strengthening overall security; Chancellor Merz will be guest of honour at the working dinner. EU Agriculture and Fisheries Council and EU Foreign Affairs Council (Development) meet. EU's Kubilius participates in the joint session of EU affairs and defence Committees of the Chamber of Deputies of Italy. Bruegel event at 14:30CET in Sweden title Policy actions for strengthening EU competitiveness. Global Economic Summit (through Wed), speakers during the conf include Ireland's Taoiseach Martin, EU's McGrath

    • In central banks updates, ECB's Lagarde speech at 15:00CET at event organised by Hertie School/Jacques Delors Centre. Bundesbank's Nagel in discussion at 15:30CET at event organised by WDR Europaforum (through Wed), other speakers include Chancellor Merz at 13:00.

    • Macroeconomic data due today include: Sweden Apr PPI, Spain Apr PPI and Finland Apr PPI.

    • In corporate news, Obrascon Huarte Lain (OHLA.SM) released Q1 earnings on Friday after the close. Elsewhere, Retail Estates (RET.BB), EVN (EVN.AV), Constellation Oil Services Holding (COSH.NO), Jinhui Shipping & Transportation (JIN.NO) and Hellenic Exchanges-Athens Stock Exchange (EXAE.GA) are expected to update the market with their latest numbers.

    • CMD/events: Saab (SAAB.B.SS) day 1 of 2 (presentations Tue), Odfjell (ODF.NO).

  • Politics/Macro/World News

    • Trump extends EU tariff deadline from 1-Jun to 9-Jul - Truth Social

    • Copenhagen hits back as Berlin and Paris push to scrap rules on green supply chains - FT

    • Europe's largest shipbuilder calls on bloc to build up underwater defences - FT

    • France, Vietnam sign Airbus deal as Macron visits Hanoi - Reuters

  • Top company news

    • Earnings/updates

      • OHLA.SM (Obrascon Huarte Lain) -- reports Q1 net income (€21.8M) vs FactSet (€30M) [1 est]

    • M&A

      • AQX.LN (Aquis Exchange) -- expects arrangement with SIX to become effetive on 1-Jul-25

      • ENEL.IM (Enel) -- Enel Produzione completes sale of 50% stake in Slovak Power to EPH

      • AAAA.LN (AA) -- AA's owners exploring sale or stock market listing next year - Sky News

    • Healthcare

      • ROG.SW (Roche Holding) -- Roche to launch phase 3 trial for antibiotic zosurabalpin end of this year or early next year following promising early studies - FT

    • Other

      • ADS.GR (Adidas) -- experiences data breach affecting some consumer data - Reuters

      • RATO.B.SS (Ratos) -- to reduce ownership in Sentia to below 50% from ~72%, in connection with its listing on Euronext Oslo Børs

      • BTLS.BB (Biotalys) -- CFO Douglas Minder to pursue other career opportunities

  • Key rating changes

    • Upgrades

      • EBS.AV (Erste Group Bank) -- to buy from neutral at UBS

      • BRAV.SS (Bravida Holding) -- to buy from hold at Nordea

    • Initiations

      • BMPS.IM (Banca Monte dei Paschi di Siena) -- initiated hold at Kepler Cheuvreux

  • Data

    • Nikkei +0.90% to 37495.87

    • Hang Seng (1.18%) to 23322.79

    • Shanghai Composite (0.26%) to 3339.57

    • S&P futures +58.8 vs prior close of 5817.0

    • €-$ +0.0038 or +0.33% to 1.1405

    • $-¥ +0.25 or +0.17% to 142.72

    • €-¥ +0.83 or +0.51% to 162.76

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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