Back to Daily DR Market Summary

StreetAccount Summary - European Market Recap: FTSE 100 (0.14%) to 10363.93, DAX closed, CAC40 closed, STOXX 600 closed

May 01 ,2026

  • Synopsis:

    • European equity markets that were open, namely UK and Denmark, ended the session mixed. The majority of European markets were closed for Labor Day holidays.

    • Activity light in Europe due to holidays. Investors evaluating yesterday's policy decisions from ECB and BOE. Both kept policy settings unchanged. Comments from President Lagarde and ECB sources reinforce expectations for June rate hike. BOE policy outlook more uncertain.

    • Middle East headlines remain in focus as Israel intensifies Lebanon attacks and Iran reportedly sends a new set of proposals to the United States through mediator Pakistan

    • Denmark +0.7%, FTSE 100 (0.1%) having spent the session slightly lower on the day, and FTSE 250 +0.3%

    • UK and Ireland markets will be closed on Mon for Early May bank holiday

    • Economic data included two data points underlying the resilience of the housing market on the UK, better than expected Mar mortgage approvals, whilst Nationwide commented, UK annual house price growth picked up in Apr despite the uncertainty caused by developments in the Middle East. The UK economy and housing market have proved remarkably resilient in recent years. This provides some confidence that, if the latest shock passes relatively quickly, and energy prices normalise in the quarters ahead, any near-term softening in the housing market will also prove short lived.

    • M&A news flow included Banco de Sabadell (SAB.SM) confirming completes sale of TSB Banking Group to Santander UK (SAN.SM), to distribute an extraordinary cash dividend. Consob approves Banca CF+'s offer document in connection with the acquisition of the remaining shares of Banca Sistema (BST.IM). UCB (UCB.BB) announces acquisition of IMIDomics' Patient Insight Business. Next Geosolutions Europe (NXT.IM) acquires a further 7.1% of Rana Subsea, bringing its total stake to 82.5%. Gyldendal (GYLD.A.DC) completes acquisition of 80% of the shares in the Swedish publishing group Tukan and confirms FY outlook. Reportedly, bp (BP.LN) considering potentially exiting part or all of its operations in the UK North Sea.

    • Amongst the handful of company earnings/updates were Pearson (PSON.LN) and NatWest Group (NWG.LN) and Schouw & Co (SCHO.DC)

    • Sovereign credit rating reviews due after the close include Fitch (Ireland).

  • Digest:

    • Macro/Peripheral markets:

      • ECB:

        • ECB officials see June rate hike if energy prices do not ease first -Reuters, Bloomberg

      • Germany:

        • Greens and CDU in the southwest agree on coalition - Handelsblatt

      • Greece:

        • 24-hour strike, called by the country's main unions, sees thousands strike across Greece - ekathimerini

      • Ireland:

        • Nominations period for the Dublin Central and Galway West bye-elections has closed; bye-elections will take place on 22-May - RTE

      • UK:

        • BOE chief economist Pill says MPC wants to retain optionality - wires

        • Tony Blair institute calls for end to 'unaffordable' triple lock - London Times

        • Who are Starmer's potential challengers? - Guardian

        • Parties' prospects examined in next week elections - Economics Observatory

        • The Green Party of England and Wales is calling for a £15/hour minimum wage for all workers by Apr- 27 - BBC

      • Ukraine:

        • Zelensky's push for EU membership strains ties with allies - FT

    • Company news:

      • Notable Gainers

        • +9.8% GLE.LN (MJ Gleeson) -- expects adj. Group profit before tax for year ending 30-Jun-26 will be in line with market consensus

        • +9.6% HUSCO.DC (HusCompagniet) -- Q1 EBITDA DKK18M vs FactSet DKK6.5M [3 est, DKK2-9.4M]; reaffirms FY guidance

        • +5.7% AOJ.B.DC (Brødrene A & O Johansen) -- Q1 pretax income DKK53.8M vs FactSet DKK43M, reaffirms FY guidance

        • +4.1% SCHO.DC (Schouw & Co)

          • Q1 net income attributable DKK165M vs FactSet DKK206M [1 est]; reaffirms FY guidance

          • BioMar (+BIOMAR.DC) announces intention to IPO on Nasdaq Copenhagen

        • +3.4% PSON.LN (Pearson) -- Q1 underlying sales +4%; on track to deliver FY26 guidance

        • +2.7% ROR.LN (Rotork) -- Q1performance was in line with management expectations; 2026 outlook is unchanged

        • +2.5% HFD.LN (Halfords Group) -- upgraded to buy from hold at Canaccord Genuity

        • +2.1% SRB.LN (Serabi Gold) -- FY EPS $0.71 vs year-ago $0.25; Confirms FY production outlook

        • +2.0% HAS.LN (Hays) downgraded to neutral from buy at Citi

        • +1.5% RCN.LN (Redcentric) -- completes sale of Redcentric Data Centre to Stellanor Datacenters Group

        • +1.3% ACSO.LN (accesso Technology Group) -- CEO Steve Brown steps down

        • +1.3% NRR.LN (NewRiver REIT) -- FY26 Underlying FFO/share and EPRA NTA/share expected to be in-line with analyst consensus

        • +1.2% GFTU.LN (Grafton Group) -- completes acquisition of Mercaluz

        • +0.7% DGE.LN (Diageo)

          • Trump says will be removing certain tariffs and restrictions on Whiskey -- Truth Social post

          • Launches strategic push into "ready-to-drink" beverages category - FT

        • +0.6% MCB.LN (McBride) -- commences the second tranche of its share buyback program

      • Notable Decliners

        • -13.2% PRO.LN (ProService Building Services Marketplace( -- FY trading update: adjusted EBITDA for the period is expected to be at breakeven

        • -13.1% STX.LN (Shield Therapeutics) -- Q1 EBIT $2.5M vs year-ago ($4.4M); CFO Santosh Shanbhag to step down

        • -3.1% NWG.LN (NatWest Group) -- Q1 net income £1.51B vs consensus £1.34B; expects FY income ex-items to be at top end of previously guided range

        • -2.9% AZN.LN (AstraZeneca)

          • FDA ODAC recommends Truqap in prostate cancer

          • issues press release on FDA ODAC panel's vote supporting TRUQAP sNDA in prostate cancer

          • FDA Oncologic Drugs Advisory Committee (ODAC) did not reach a majority vote in favor of the benefit risk profile of AstraZeneca's camizestrant in combination with a cyclin-dependent kinase (CDK) 4/6 inhibitor

          • FDA ODAC panel votes 7-1-1 to support AstraZeneca's TRUQAP sNDA in prostate cancer

        • -2.6% FLS.DC (FLSmidth & Co.) -- investigates potential non-compliance with sanctions regulations and takes steps to enhance compliance measures

        • -2.4% UU.LN (United Utilities Group) -- downgraded to neutral from buy at Citi

        • -2.2% SVT.LN (Severn Trent) -- downgraded to neutral from buy at Citi

        • -1.5% GSK.LN (GSK) -- UK MHRA approves Lynavoy (linerixibat) for itch in adults with PBC

        • -1.3% PULS.LN (Pulsar Group) -- FY EPS (7.8p) and unclear if comparable to FactSet 2.2p [1 est]

        • -1.1% PAGE.LN (PageGroup) -- downgraded to neutral from buy at Citi

        • -0.9% KAP.LN (Kazatomprom) -- initiated hold at Freedom Broker

        • -0.2% ORSTED.DC (Ørsted) -- completes divestment of European onshore business to CIP

      • Markets that were closed today

        • BIRG.ID (Bank of Ireland Group) -- total income in Q1 tracking in line with expectations; guides FY26

        • AALB.NA (Aalberts) -- Q1 EBITA €109.7M vs FactSet €104.0M; expect improvements on organic revenue growth and EBITA margin in 2026

        • ATTICA.GA (Attica Holdings) -- FY EBITDA €85.4M, (11%) vs year-ago €96.3M

        • PNOR.NO (PetroNor E&P) -- provides update on the previously announced oil sales lifting

        • Broker recommendation changes

          • Upgrades:

            • REP.SM (Repsol) -- buy from neutral at Goldman Sachs

            • ELK.NO (Elkem) -- buy from hold at SEB

          • Downgrades:

            • AIXA.GR (Aixtron) -- equal weight from overweight at Barclays

            • TE.FP (Technip Energies) -- neutral from buy at Goldman Sachs

            • AKSO.NO (Aker Solutions) -- hold from buy at Pareto

            • ADEN.SW (Adecco Group) -- neutral from buy at Citi

            • RAND.SW (Randstad) -- neutral from buy at Citi

            • TE.FP (Technip Energies) -- neutral from buy at Goldman Sachs

    • EU companies reporting Monday:

      • Earnings:

        • DACHs: DMG MORI (GIL.GR), Stabilus (STM.GR)

        • Nordics: HEXPOL (HPOL.B.SS), Ratos (RATO.B.SS), Fagerhult Group (FAG.SS), Ilkka (ILKKA.FH)

      • Trading Update: France: Elis (ELIS.FP), Vicat (VCT.FP), Bilendi (ALBLD.FP)

      • Sales/Output: Moscow Exchange MICEX-RTS (MOEX.RU)

      • CMD/Events: STMicroelectronics (STMPA.FP) The LEO Opportunity at 15:30CET (webcast link), Unicredit (UCG.IM) EGM regarding the planned takeover bid for Commerzbank (CBK.GR)

  • Data:

    • Economics:

      • Netherlands Mar retail sales +2.9% y/y vs consensus +1.8%, prior revised +1.5% from +1.3%

      • Switzerland Mar retail sales +0.5% y/y vs consensus +1.0%, prior revised +0.4% from +0.9%

      • UK

        • Apr house price index +3.0% y/y vs consensus +2.2%, prior +2.2% - Nationwide

        • Apr manufacturing PMI 53.7 vs preliminary 53.6

        • Mar mortgage approvals 63.53K vs consensus 60.0K, prior revised 62.71K from 62.58K

        • Mar M4 money supply +0.8% m/m vs consensus +0.5%, prior revised +0.7% from +0.6%

    • Markets:

      • WTI Crude (Jun 26): ($3.21) or (3.06%) to $101.86

      • €-$ +0.0032 or +0.27% to 1.1764

      • £-$ +0.0019 or +0.14% to 1.3624

      • €-£ +0.0010 to 0.8634

      • S&P 500 +0.68

      • Performance year-to-date:

        • FTSE 100: +4.36%

        • DAX: (0.81%)

        • CAC: (0.43%)

        • MIB: +7.35%

        • Stoxx 600: +3.22%

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