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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.14%), DAX +0.00%, CAC40 +0.17%

Sep 15 ,2026

  • Synopsis

    • European equity markets are set to open mixed, following mostly weaker levels on Monday. Asian equity markets mixed on Tuesday. Nikkei a bit higher. Greater China markets little changed. South Korea and Taiwan seeing mild declines.

    • Bonds remain under pressure, with 10-year Treasury moving further above 5% for the first time since 2023. Back-up in yield primarily due to energy price gains amid ongoing Middle East tension, which is fueling worries of upside inflation risk and steepening in central bank rate hike expectations. In Europe, interest rate swaps market pricing in up to five BoE rate hikes over the next year and four for the ECB after its rate increase late week.

    • AI infrastructure space stabilizing after Monday's weakness, which was attributed to Anthropic's call to slow the pace of model development. While Anthropic's call drew immediate concerns about potential supply chain impacts, there was also plenty of skepticism slowdown in model capability will be meaningful enough to threaten capex growth trajectory. Meanwhile, ECB Vice President Vujcic warned that AI-driven equity market rally vulnerable to correction.

    • Also on today's agenda, In politics, in the UK, MPs hold a general debate on the potential merits of a full ban on fracking. Committee topics include climate adaptation and emergency response at 10:00BST, UK-EU agreement on Gibraltar at 11:00, fiscal devolution in England at 15:00 and scrutiny of the draft Heathrow Expansion National Policy at 16:00. Elsewhere, Entrepreneurs' Day of the Federation of German Wholesale, Foreign Trade and Services (BGA) sees speech from Chancellor Merz, the Chancellor hosting Iraqi PM Ali al-Zaidi for talks later in the afternoon. Norway's minister of defense Sandvik receives report from parliamentary committee presenting its conclusions and recommendations on the Intelligence Services Act. Other events include German Pharmacists' Day (through Thu).

    • In central banks, ECB's Buch speech at 10:15CET and Cipollone panellist at 16:00 at conf (livestream) on Watching European Financial Market Regulation and Supervision. Also, the first of the Bundesbank's monthly report pre-releases at 12noon CET.

    • On the macro data front, UK labor market data the early focus ahead of Thursday's BoE decision. Recall that last week's monthly KPMG/REC data showed signs of stabilization in the labor market. Final CPI due from France and Spain. Eurozone and German ZEW sentiment also on the agenda and follow last week's jump in the Sentix investor survey. In other news, ECB staff are reportedly concerned over leadership changes and call for clarify on President Lagarde and executive board member Schnabel's succession plans.

    • In corporate news, AXA (CS.FP) announced 2027-2029 strategy and financial targets indicating underlying EPS CAGR 2026E-2029E between +7-9% and 2026 underlying EPS growth to be at the top end of the target range of +6-8%. In Italy, Gas Plus (GSP.IM) reported H1 earnings, while SeSa (SES.IM) issued Q1 earnings. In Norway, DOF Group (DOFG.NO) releases presentation material in connection with its CMD.

  • Macro/politics

    • Bank of England urged to slow or halt bond-selling to slash UK borrowing costs - The Guardian

    • UK Can Replace Oil Windfall Tax Early to Add Revenue, Lobby Says - Bloomberg

    • Mark Carney urges EU to cement trade deal as Ottawa seeks pivot from US -- FT

    • Despite Trump's announcement - Ukraine attacks Russian oil refinery - Handelsblatt

    • Houthis strike Saudi targets anew as talks over Strait of Hormuz stall - Reuters

    • Trump says AI safety fears a 'hoax' as he rejects calls for greater safeguards - BBC

  • Top company news

    • Earnings/updates

      • CS.FP (AXA) -- announces 2027-2029 strategy and financial targets; targets Underlying EPS CAGR 2026E-2029E between +7-9%, expects 2026 underlying EPS growth to be at the top end of the target range of +6-8%

      • SES.IM (SeSa) -- reports Q1 adj net income €30.1M vs FactSet €28.9M

      • GSP.IM (Gas Plus) -- reports H1 adjusted net income €16.5M vs year-ago €10.2M (post EU close 14-Sep)

      • SVED.B.SS (Svedbergs) -- in Dalstorp launches efficiency programme; measures are expected to gradually improve operating profit by ~SEK 25M

      • DOFG.NO (DOF Group) -- releases presentation material in connection with its CMD

      • FLU.AV (Flughafen Wien) -- reports Aug group total passenger traffic (1.7%) to 4.5M

      • Also due to report today includes:

        • Earnings:

          • France: Aelis Farma (AELIS.FP)

          • Southern Europe: GEK Terna (GEKTERNA.GA)

          • UK: Kier Group (KIE.LN), Trustpilot Group (TRST.LN), Princes Group (PRN.LN), IP Group (IPO.LN), McBride (MCB.LN), Everplay (EVPL.LN), LSL Property Services (LSL.LN), Sylvania Platinum (SLP.LN), Fintel (FNTL.LN), MJ Gleeson (GLE.LN), Eagle Eye Solutions Group (EYE.LN), Personal Group Holdings (PGH.LN), Springfield Properties (SPR.LN), EKF Diagnostics Holdings (EKF.LN), Mpac Group (MPAC.LN), accesso Technology Group (ACSO.LN), Alumasc Group (ALU.LN), hVIVO (HVO.LN)

        • Trading Update:

          • Nordics: Borregaard (BRG.NO)

        • Traffic: Aeroport de Paris (ADP.FP)

        • CMD/Events: Revenio Group (REG1V.FH), Studsvik (SVIK.SS), Sensorion (ALSEN.FP) 1:50 reverse stock split

    • M&A

      • PRY.IM (Prysmian) -- receives US antitrust clearance for the acquisition of Atkore

      • GNFT.FP (GENFIT) -- announces acquisition of nangibotide; plans Phase 2 clinical Investigation in ACLF

      • FNAC.FP (Fnac Darty) -- announces EP FR HOLDCO filed formal notification with European Commission under merger control of its proposed public tender offer for the outstanding shares and OCEANEs of Fnac Darty

      • SMG.SW (SMG Swiss Marketplace Group) -- TX Group increases stake in SMG to 34.9%

      • PEN.NO (Panoro Energy) -- closes acquisition in Côte d'Ivoire

      • OMASP.FH (Oma Savings Bank) -- S-Bank Plc receives all necessary regulatory approvals for its voluntary public cash tender offer for Oma Savings Bank Plc

    • Healthcare

      • ASND (Ascendis Pharma) -- to regain rights to TransCon technology in metabolic and cardiovascular diseases

      • TECN.SW (Tecan Group) -- Transcript Intelligence: Tecan Group at Morgan Stanley Global Healthcare Conference

      • IPH.FP (Innate Pharma) -- Transcript Intelligence: Innate Pharma at H.C. Wainwright Global Investment Conference

      • BINV.SS (BioInvent International) -- Transcript Intelligence: BioInvent International at H.C. Wainwright Global Investment Conference

    • Other

      • LLOY.LN (Lloyds Banking Group) -- Transcript Intelligence: Lloyds Banking Group at Barclays Global Financial Services Conference

      • ISS.DC (ISS A/S) -- Transcript Intelligence: ISS A/S Capital Markets Day

      • BG.AV (BAWAG Group) -- releases details on expected future MREL structure

      • TRMD.A.DC (TORM Plc) -- announces 9.0M share offering for holder OCM Njord

      • AVIO.IM (Avio) -- successfully launches Sentinel-3C and FLEX satellites with Vega C

      • DEZ.GR (Deutz AG) -- resolves on 10% capital increase against cash contributions from authorized capital, with the exclusion of pre-emption rights

      • PRS.SM (Promotora de Informaciones) -- appoints Jorge Bujía Feal as the new CFO (post EU close 14-Sep)

      • Anthropic releases new finance tool; Pure Plays extend declines amid rotation out of AI Infrastructure in intraday themes (14-Sep)

      • UK's Payments Delivery Company to announce equity raise of £50M tomorrow -- Sky News

  • Key rating changes

    • Upgrades

      • GSK.LN (GSK Plc) -- to buy from hold at Berenberg

      • HEM.SS (Hemnet Group) -- to overweight from equal-weight at Morgan Stanley

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

      • FEVR.LN (Fevertree Drinks) -- to buy from hold at Kepler Cheuvreux

    • Downgrades

      • AMBU.B.DC (Ambu) -- to neutral from buy at UBS

      • EVK.GR (Evonik Industries) -- to equal-weight from overweight at Morgan Stanley

      • HLUN.B.DC (H. Lundbeck) -- to sell from hold at Deutsche Bank

    • Initiations

      • UCG.IM (UniCredit) -- sector perform at RBC Capital Markets

      • MOVE.SW (Medacta Group) -- hold at Deutsche Bank

      • GEKTERNA.GA (GEK Terna) -- buy at Jefferies

      • CVSG.LN (CVS Group) -- hold at Shore Capital Stockbrokers

      • CAPT.NO (Capital Tankers) -- buy at ABG Sundal Collier

    • Other Actions

      • NG.LN (National Grid) -- resumed outperform at Bernstein

  • Data

    • Nikkei +0.20% to 63621.32

    • Hang Seng (0.64%) to 24758.96

    • Shanghai Composite (0.31%) to 3873.46

    • S&P futures (18.8) vs prior close of 7692.8

    • €-$ (0.0016) or (0.14%) to 1.1536

    • $-¥ +0.43 or +0.28% to 154.78

    • €-¥ +0.28 or +0.16% to 178.55

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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