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StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.05%), DAX 0.10%, CAC40 +0.10%

Dec 19 ,2025

  • Synopsis

    • Europe eyeing a flat open. Asia equities higher almost everywhere Friday: Technology stocks leading the gainers with advances in South Korea, Taiwan and Japan. Australia also higher, India up in early trades. Greater China boards also up but Hang Seng still heading for a weekly loss. US futures mixed,

    • US equities were higher in Thursday trading though stocks ended off best levels. S&P, Nasdaq saw solid rebounds after falling by more than 1% on Wednesday, though still on pace for weekly declines.

    • Economic: Germany Jan consumer confidence - GfK, Nov PPI, France Nov PPI, Italy Dec business/consumer confidence, UK Dec consumer confidence - GfK, distributive trades - CBI, Nov retail sales, PSNB, Sweden Nov retail sales, Denmark Nov retail sales, Eurozone Dec flash consumer confidence

    • In corporate news: (D6H.GR) Datagroup reports FY EPS €2.64 vs year-ago €3.13. (HBH.GR) Hornbach Holding reports full Q3 numbers: EPS €0.64 vs year-ago €1.06. (LHYFE.FP) Lhyfe confirms its objective of doubling 2025 sales with c. €10M reached by year end vs FactSet €10.57M

  • Politics/Macro/World News

    • EU agrees €90bn loan to Ukraine after frozen Russian asset plan fails (FT )

    • Hot Wages in a Cooling Jobs Market Are Keeping the BOE Cautious (BBG )

  • Top company news

    • Earnings/updates

      • COFB.BB (Cofinimmo) -- acquires new development projects in Finland; Lowers FY total divestment and investment vs initial guidance

      • NOBA.SS (NOBA Bank Group) -- AB (publ) acquires DBT Capital AB for SEK403M

    • M&A

      • KER.FP (Kering) -- announces the phased acquisition of jewelry name, Raselli Franco Group, with an initial 20% stake for €115M and a pathway to 100% by 2032

      • RF.FP (Eurazeo) -- agrees to sell ~ €260M in assets previously carried on its balance sheet as part of its Elevate strategy

      • BP.LN (BP) -- FTC grants antitrust clearance for transaction involving BP and Toreador Evergreen Holdings

      • BP.LN (BP) -- Follow-up: FTC grants antitrust clearance for BP's sale of interests in certain Permian and Eagle Ford midstream assets to Sixth Street

      • SU.FP (Schneider Electric) -- completes transaction to acquire remaining 35% stake in India Private Limited from Temasek to reach full ownership.

      • BAS.GR (BASF SE) -- US FTC grants antitrust clearance for BASF and Carlyle's (CG) agreement to create standalone coatings company

      • RWE.GR (RWE) -- to sell Polish offshore wind development project to PGE; terms not disclosed

      • NEXI.IM (Nexi SpA) -- Nexi confirms board resolved not to proceed with proposed transaction with TPG

      • CLN.SW (Clariant) -- announces divestment of its business in Venezuela for USD ~1.8M (CHF ~ 1.4M) to CMV Química, C.A

      • IBAB.BB (Ion Beam Applications) -- acquires ORA for €15-20M

      • DAE.SW (Dätwyler Holding) -- Dätwyler to acquire 51% stake in Capsul'in; terms undisclosed

      • OERL.SW (OC Oerlikon Corp.) -- Oerlikon receives all necessary regulatory clearances to divest Barmag to Rieter; closing scheduled for beginning of February

      • NOBA.SS (NOBA Bank Group) -- AB (publ) acquires DBT Capital AB for SEK403M

      • SPEC.LN (Inspecs Group) -- Safilo Group says it has acquired a significant equity stake (25%) in Inspecs Group plc for approximately £21.7M

      • FTC grants antitrust clearance for acquisition of Aligned Data Centers by AIP-MGX-GIP consortium

      • TikTok signs binding agreements to sell US entity to JV majority-owned by American investors - Axios

    • Healthcare

      • GLPG.NA (Galapagos) -- announces topline results from two Phase 3-Enabling studies with selective TYK2 inhibitor GLPG3667 in dermatomyositis and systemic lupus erythematosus

      • EMEIS.FP (Emeis SA) -- raises €3.15B in new financing; provides update on associated debt restructurings

      • EGTX.SS (Egetis Therapeutics) -- initiates New Drug Application in the USA for Emcitate (tiratricol) for MCT8 deficiency

    • Other

      • BP.LN (BP) -- Incoming BP CEO Meg O'Neill given mandate to look at all aspects of the business afresh on their merits, with key focus to be the US - Bloomberg, citing person familiar with the matter

      • WPP.LN (WPP Group) -- WPP CEO Cindy Rose working on restructuring of group in mission to turn it from holding company into operating company - FT, citing CEO

      • PUM.GR (Puma) -- announces additional financing with bridge loan of €500M and additional confirmed credit lines of €108M

      • GTT.FP (Gaztransport & Technigaz) -- GTT receives order from HD KSOE for LNG tank design on new methane carrier

      • SCR.FP (SCOR SE) -- SCOR renews its contingent capital program

      • CAN.LN (Canal+ SA) -- signs €1.8B in financing as part of its refinancing strategy

      • HTO.GA (Hellenic Telecommunications Organization) -- announces final extraordinary dividend relating to the sale of TKRM will be €0.1019/share (gross)

      • ARB.LN (Argo Blockchain) -- SEC filing: SCHEDULE 13D (Filed by Growler Mining Tuscaloosa, LLC)

      • Poland awarded 3.4 GW capacity across three projects in its first offshore wind tender

      • Trump orders marijuana reclassification; Equinor among winners of Poland offshore wind auction in intraday themes (18-Dec)

      • UK November car manufacturing (14.3%) y/y to 65,932 units - SMMT

  • Key rating changes

    • Downgrades

      • CCC.LN (Computacenter) -- to hold from buy at Peel Hunt

      • RIEN.SW (Rieter Holding) downgraded to neutral from buy at UBS

      • ARCAD.NA (ARCADIS) downgraded to neutral from buy at UBS

    • Initiations

      • SDZ.SW (Sandoz Group) -- neutral at Oddo

      • EMSN.SW (EMS-Chemie Holding) -- neutral at Oddo

      • AB.FP (AB Science) -- buy at Maxim Group

      • ALSN.SW (ALSO Holding) initiated outperform at Oddo

      • TE.FP (Technip Energies) initiated buy at Goldman Sachs

      • AXFO.SS (Axfood) initiated buy at Handelsbanken

      • EPEN.SS (Ependion) initiated hold at Danske Bank

  • Data

    • Nikkei +1.03% to 49507.21

    • Hang Seng +0.82% to 25706.45

    • Shanghai Composite +0.42% to 3892.49

    • S&P futures (6.5) vs prior close of 6830.5

    • €-$ (0.0008) or (0.07%) to 1.1716

    • $-¥ +0.63 or +0.41% to 156.18

    • €-¥ +0.61 or +0.33% to 182.97

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