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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.14%, DAX +0.81%, CAC40 (0.08%)

Mar 18 ,2026

  • Synopsis

    • European equity markets are set for a mostly higher open amidst Asia equities rallying Wednesday as crude prices slide: Japan's two major benchmarks gapped higher and will close near their highs with gains in a broad rally. Greater China boards paring early losses to trade mostly higher with Hong Kong AI-listed stocks outperforming. More very strong gains for the Kospi and Taiex, Australia, Singapore and Southeast Asia all higher. India also trading up. US futures trading higher.

    • Markets on a more stable footing this week as conflict in Iran continues with more discussions about economic impact of energy supply disruptions. More Iranian leaders killed by Israel while Tehran struck new energy targets across Middle East. While US allies have mostly baulked at Trump's request to protect shipping through Strait, there have also been reports of Iran allowing some ships to transit, Saudi Arabia redirecting flows via Red Sea pipelines, and China and India increasing purchases from Russia, seemingly helping to contain crude prices this week.

    • In Switzerland, SECO releases its latest economic forecast. In politics, EU Tripartite Social Summit, EU's von der Leyen participates. In the morning, Chancellor Merz chairs regular Cabinet meeting, that will see the participation of France's minister for Europe and foreign affairs, Barrot. In the afternoon, Merz will deliver a government statement in the German Bundestag on the upcoming European Council meeting. In the UK, weekly PMQs begin at 12noon GMT followed by opposition day debate (subject tba) whilst committee topics include achieving and measuring transport integration at 9:15, transition to State Pension age at 9:30 and UK's future relationship with the US at 11:30. Handelsblatt Conf on Banking Supervision (through Thu), speakers include ECB's Machado at 9:40CET, Bundesbank's Theurer at 10:05. Bruegel / Journée de l'Économie event at 14:40CET title 'Can we save Europe?'.

    • In central banks, ECB publishes at 13:30CET Annual Report on supervisory activities 2025 and ECB's Buch makes introductory statement at 14:30CET at EP committee hearing (livestream). Iceland interest rate decision is expected to see no change in the 7.25% benchmark interest rate.

    • Macro data include Eurozone Feb final CPI, Austria Feb final CPI, Portugal Feb PPI

    • In earnings, from the DACHs region HelloFresh (HFG.GR) reported Q4 EBIT €103.9M ex-items vs FactSet €114.1M and expects FY26 constant currency AEBITDA to decline compared with FY25 whilst TAG Immobilien (TEG.GR), thyssenkrupp nucera (NCH2.GR) and Stadler Rail (SRAIL.SW) also released results. Elsewhere, InPost (INPST.NA), Virbac (VIRB.FP) and Prudential m(PRU.LN) released earnings.

  • Politics/Macro/World News

    • U.S. reported to be in process of taking further steps to ease Venezuela oil sanctions in support of increasing crude oil production in midst of surging prices - Bloomberg

    • Crude halts rally amid efforts to bring more oil to market:

  • Top company news

    • Earnings/updates

      • Benelux:

        • INPST.NA (InPost) -- reports Q4 EPS PLN0.12 vs FactSet PLN0.96 [3 est, PLN0.74-1.22]

        • AVTX.NA (Avantium) -- reports FY net income (€22.5M) vs FactSet (€42.1M) [2 est, (€54.2)-(29.9M)]

      • DACHs:

        • HFG.GR (HelloFresh) -- reports Q4 EBIT €103.9M ex-items vs FactSet €114.1M [2 est, €104.1-124.1M]; expects FY26 constant currency AEBITDA to decline compared with FY25

        • TEG.GR (TAG Immobilien) -- reports FY FFO per share €1.00 vs FactSet €0.98

        • SMG.SW (SMG Swiss Marketplace Group) -- reports FY adjusted EBITDA CHF180.2M vs FactSet CHF175.6M [6 est, CHF156-180.3M]

        • TXGN.SW (TX Group) -- reports FY net income CHF90.2M ex-items

        • NCH2.GR (thyssenkrupp nucera) -- guides FY26 EBIT (€80M)-(30M) vs prior guidance (€30M)-0M and FactSet (€10.4M) [9 est, (€24.7)-(0.8M)]

        • SEM.AV (Semperit Holding) -- reports FY EPS €0.02 vs FactSet €0.11 [5 est, (€0.08)-0.54]; guides FY26

        • SRAIL.SW (Stadler Rail) -- reports FY net income CHF100.7M vs FactSet CHF106.2M [7 est, CHF79.8-125.1M]; hikes divi by 150%, guides FY26 and confirms m/t guidance

      • France:

        • DG.FP (VINCI SA) -- Vinci reports Feb airport passenger traffic +1.6%

        • ALSEN.FP (Sensorion) -- reports FY net income (€29.5M) vs FactSet (€35.1M) [5 est, (€46)-(30.5M)]

        • EXA.FP (Exail Technologies) -- reports FY net income €5.9M vs year-ago (€5M)

        • MRN.FP (Mersen) -- reports FY net income €14.1M vs FactSet €57.1M [7 est, €51-60.9M]

        • VIRP.FP (Virbac) -- reports FY net income €150.5M vs FactSet €155.4M [9 est, €147-165.7M]

        • BOL.FP (Bolloré) -- reports FY net income €348M vs FactSet €257M [1 est]

      • Nordics:

        • BNOR.NO (BlueNord) -- publishes its 2025 Annual Statement of Reserves and Resources

        • SKIS.B.SS (SkiStar) -- reports Q2 EPS SEK12.48 vs FactSet SEK12.86 [4 est, SEK12.60-13.20]

      • UK:

        • PRU.LN (Prudential) -- reports FY IFRS profit after tax $4.12B, +71% vs year-ago $2.42B

      • Southern Europe:

        • OTOEL.GA (Autohellas) -- reports FY net income attributable €80.0M vs FactSet €76M [2 est, €76-76M]

    • M&A

      • F3C.GR (SFC Energy) -- completes acquisition of stake in Oneberry Technologies

      • AMP.IM (Amplifon) -- provides information on financing package for the acquisition of the hearing business of GN Store Nord (post EU close 17-Mar)

      • TE.FP (Technip Energies) -- acquires minority equity stake in Verso Energy's DEZiR eSAF project in Rouen; price not disclosed

      • PST.IM (Poste Italiane) -- approves the re-organization aimed at the creation of a new 'Financial Hub', within the BancoPosta Ring-Fenced Capital

      • PRO.SW (Procimmo) -- Vaudoise Assurances agrees to increase its stake and become the majority shareholder in Procimmo Group; plans to carry out a squeeze-out of remaining shares

      • ROG.SW (Roche Holding) -- Mankind Pharma acquires Rivotril (clonazepam) brand from Roche, with exclusive manufacturing, marketing and distribution rights in India

      • ULVR.LN (Unilever) -- contemplating potential separation/spin-off of food business in streamlining efforts - Bloomberg

      • VIE.FP (Veolia Environnement) -- to acquire Enviropacific Services for ~A$200M (€123.2M) - Australian Financial Review

      • URW.FP (Unibail-Rodamco-Westfield) -- Castellana to acquire 50% stake in Splau Shopping Centre from Unibail-Rodamco-Westfield for €89.3M in cash

      • ETE.GA (National Bank of Greece) -- completes the Etalia B transaction (post EU close 17-Mar)

      • Affinity Equity Partners again gauging interest in Scottish Pacific lending business - The Australian

    • Healthcare

      • CANTA.SS (Cantargia) -- presents preclinical data at Keystone conference showing Nadunolimab surrogate antibody reduces immunosuppression in metastatic CRC

      • HPHA.GR (Heidelberg Pharma) -- to receive milestone payment from partner Huadong for clinical study with HDP-101 in China

      • SAN.FP (Sanofi) -- Sanofi's venglustat earns Breakthrough Therapy designation in the US for type 3 Gaucher disease

      • IPN.FP (Ipsen) -- to showcase transformative potential of early immuno-oncology pipeline at AACR

      • MOLN.SW (Molecular Partners) -- to present three posters at AACR 2026 Annual Meeting

      • YPSN.SW (Ypsomed Holding) -- completes CHF 50M share repurchase program

      • ONCO.SS (Oncopeptides) -- announces results of ~SEK 200M rights issue

      • FARN.LN (Faron Pharmaceuticals) -- Transcript Intelligence: Faron Pharmaceuticals Investor Meeting

    • Other

      • ENI.IM (Eni) -- moves forward with major deep water gas hubs in Indonesia with dual Final Investment Decisions

      • CANTA.SS (Cantargia) -- presents preclinical data at Keystone conference showing Nadunolimab surrogate antibody reduces immunosuppression in metastatic CRC

      • BOL.SS (Boliden) --

        • updates on stopped production at Garpenberg mine; impact on results can only be estimated once inspection has been completed

        • presents new investments totaling SEK 5.5B in Garpenberg and Rönnskär - CMD

      • REL.LN (RELX) -- holder offers 24M shares via Goldman Sachs -- Reuters (timing uncertain)

      • CALN.SW (Calida Holding) -- Chairman Felix Sulzberger to step down effective 15-Apr; proposes election of CEO Thomas Stöcklin as new Chairman

      • UBSG.SW (UBS Group) -- Transcript Intelligence: UBS Group at Morgan Stanley European Financials Conference

      • KER.FP (Kering) -- appointa Pierre Houlès as Chief Digital, AI, and IT Officer effective immediately

      • HSBA.LN (HSBC Holdings) -- intends to issue $2.5B in multi-tranche perpetual convertible securities

      • AENA.SM (Aena S.M.E.) -- communicates position regarding agreement between Spanish Government and Autonomous Community of the Basque Country regarding airport infrastructure

      • PUIG.SM (Puig Brands) -- appoint news CEO and CFO, effective today

      • ARCAD.NA (ARCADIS) -- was selected by the Houston Galveston Area Council to provide Scenario Planning Services for the organization ahead of FIFA World Cup 2026

      • Core Lithium secures comprehensive funding package to fully fund the construction and restart of Finniss

      • EU planning to adopt legislation that negates increase in bank capital requirements to counteract short-term impact of FRTB - FT

      • Frontier Group discloses amended purchase agreement with Airbus, terms of fleet optimization transaction with AerCap - 8-K

      • Publicis reportedly no longer recommending Trade Desk to clients for digital media buys following recent audit -- AdAge

  • Key rating changes

    • Upgrades

      • Jefferies upgrades DEMANT.DC; downgrades SOON.SW

      • DEC.FP (JCDecaux) -- to overweight from neutral at JPMorgan

      • GF.SW (Georg Fischer) -- to neutral from sell at UBS

      • HEI.GR (Heidelberg Materials) -- to overweight from underweight at Morgan Stanley

      • TTE.FP (TotalEnergies) -- to buy from hold at TD Cowen

    • Downgrades

      • LOGN.SW (Logitech International) -- to neutral from buy at UBS

      • VOLV.B.SS (Volvo) -- to sell from hold at DNB Carnegie

      • NG.LN (National Grid) -- to hold from buy at Jefferies

      • BEI.GR (Beiersdorf) -- to neutral from overweight at JPMorgan

      • AXFO.SS (Axfood) -- to hold from buy at Danske Bank

  • Data

    • Nikkei +2.87% to 55239.40

    • Hang Seng +0.90% to 26101.08

    • Shanghai Composite +0.35% to 4063.91

    • S&P futures +34.3 vs prior close of 6773.3

    • €-$ +0.0003 or +0.03% to 1.1545

    • $-¥ (0.26) or (0.17%) to 158.74

    • €-¥ (0.23) or (0.13%) to 183.26

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.
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