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StreetAccount Summary - European Market Recap: FTSE 100 (0.09%) to 9931.38, DAX closed 24490.41, CAC40 (0.23%) to 8149.50, STOXX 600 (0.08%) to 592.28

Dec 31 ,2026

  • Synopsis:

    • European equity markets generally ended the holiday shortened session narrowly mixed, with a rally off session lows in the latter part of trading leaving shares around the best levels of the day

    • Trading in the markets that were open - Belgium, France, Greece, Ireland, Netherlands, Portugal, Spain and UK - was light.

    • Greece remains open (with around an hour and a half of trading remaining), the ATHEX currently marginally higher on the day and ~ +44.4% YTD

    • Markets in Austria, Czech Republic, Denmark, Finland, Germany, Hungary, Iceland, Italy, Poland, Russia, Sweden and Switzerland were closed

    • The majority of markets across the region resume trading on Fri, after the New Year holiday, the main exceptions being Russia and Switzerland

    • As efforts intensify to end the war in Ukraine, overnight, Ukraine launched drone attack on Russian port, gas pipeline in Tuapse, whilst Putin orders 'buffer zone expansion' in Ukraine's Sumy, Kharkiv in 2026 and there was little colour around Russia's announcement of the activation of nuclear-capable Oreshnik missile system in Belarus

    • In Germany, following the release earlier in the week of what's new for current laws and regulation, there are media reports citing exerts from speech to be used in Chancellor Merz's New Year address to be televised this evening (19:15CET on ZDF, 20:10 on Das Erste)

    • Macro data included Portugal Dec preliminary CPI and Greece Oct retail sales, whilst press articles covered UK house price outlook for 2026 and the Irish Tourism Industry Confederation published its outlook for 2026 after a difficult 2025

    • Amongst the limited corporate news, Maurel et Prom (MAU.FP) agreed to sell its entire 20.07% interest in Seplat Energy (SEPL.LN) to Heirs Energies Ltd for $496M (305p/share)

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Persnl & HHold Goods +0.19%, Media +0.05%, Health Care +0.00%, Autos & Parts (0.00%), Technology (0.03%), Food & Beverage (0.05%), Real Estate (0.06%), Travel & Leisure (0.06%), Telecom (0.07%), Financial Svcs (0.09%)

      • Underperformers:

        • Retail (0.32%), Chemicals (0.22%), Banks (0.18%), Ind Goods & Svcs (0.17%), Construct & Mtls (0.16%), Basic Resources (0.15%), Insurance (0.15%), Utilities (0.14%), Oil & Gas (0.09%)

    • Macro/ Peripheral markets:

      • EU to launch carbon border tax despite opposition from trade partners - FT

      • Twenty-four Dutch pension funds are moving to the new pension system in 2026, covering more than half of all participants; other changes that come into effect 1-Jan - dutchnews.nl; Netherlands approaches major overhaul of €1.8T pension system - FT

      • UK house prices: first-time buyers 'will drive 2026 sales' amid interest rate cuts - Guardian

      • Tourists visiting Ireland in 2025 ~ (6%) y/y, international visitor spend ~ (13%) y/y; estimates 2026 tourism revenue +5-7% y/y - Irish Tourism Industry Confederation release

      • Russia claims to have moved nuclear-capable missile system into Belarus - Reuters

      • Bulgaria joins euro area from 1-Jan -- EU press release

      • German Chancellor Merz to call for patience in New Year address and talked up government's reform push - Rheinische Post, SD, DW, Bloomberg, Reuters

      • 1-Jan sees 40th anniversary of Portugal and Spain becoming full members of the European Union - release

    • Company news:

      • Notable movers

        • +10.7% SEPL.LN (Seplat Energy) -- Maurel et Prom (MAU.FP) agrees to sell its entire interest in Seplat Energy to Heirs Energies Ltd for 305p/share

          • +8.1% MAU.FP (Maurel et Prom)

        • +6.1% AMP.SM (Amper) -- COFIDES invests €41.2M in Elinsa by assuming a cash capital increase to acquire a 25% stake in the company

        • +5.8% PHAR.LN (Pharos Energy) -- received $20M from the Egyptian General Petroleum Corp. against its outstanding receivable balance in Egypt

        • +2.1% ALGIL.FP (Groupe Guillin) -- completes acquisition of GRUYAERT and V de V in Belgium

        • +1.0% EYDAP.GA (Athens Water Supply & Sewage Co.) -- discloses regulatory authority's decision on new water supply and sewage service tariffs for the 1st regulatory period 2025-29

        • +0.5% SNR.LN (Senior) -- completes Aerostructures divestment; already communicated £40M buyback to commence on 2-Mar-26

        • +0.3% EDPR.PL (EDP Renovaveis) -- completes the sale of a 190 MWac solar portfolio in Spain to Prosolia Energy for ~ €0.16B (enterprise value)

        • +0.2% INPP.LN (International Public Partnerships) -- to sell 49% stake in Moray East OFTO to Daiwa Energy & Infrastructure for ~£42M

        • -0.2% RKT.LN (Reckitt Benckiser Group) -- completes divestment of its Essential Home business to Advent International

        • -1.0% IWG.LN (International Workplace Group) -- completes share buyback program for 2025; to commence the first tranche of new share buyback program for 2026 on 2-Jan

        • -1.2% PRN.LN (Princes Group) -- NewPrinces S.p.A completes acquisition of Plasmon S.r.l. from Kraft Heinz (KHC)

        • -1.4% SON.PL (Sonae) -- Sonae Sierra agrees to sell its entire 25.86% stake in Parque Dom Pedro shopping center to two Brazilian real estate investment funds

      • Company announcements in countries where markets were closed

        • SPM.IM (Saipem)

          • awarded two offshore contracts in Saudi Arabia worth ~$500M under existing long term agreement with Aramco

          • has been awarded a new offshore contract for Sakarya gas field development worth ~ $425M

        • BPSO.IM (Banca Popolare di Sondrio) -- discloses the total consideration for the sale of its merchant acquiring activities and minority stake in Nexi Payments (NEXI.IM) is €162.7M

        • TNXT.IM (Tinexta) -- Zinc BidCo (Advent and Nextalia) complete the acquisition of a 38.74% stake in Tinexta at €15/share; to launch a mandatory tender offer for the remaining shares

        • TEL.NO (Telenor Group ) -- completes the sale of Telenor Pakistan to Pakistan Telecommunication Company Limited (PTC.PK)

        • LAT1V.FH (Lassila & Tikanoja) -- registers partial demerger; trading of the shares in the new Lassila & Tikanoja (+LASTIK.FH) and Luotea (+LUOTEA.FH) will be on 2-Jan

        • CTY1S.FH (Citycon) -- G City Ltd. (GCT.IT) to commence the mandatory public cash tender offer for Citycon on 2-Jan-26

        • XLS.SW (Xlife Sciences) -- announces the twelve project companies that will be partnered with Grupo Landsteiner

        • GF.SW (Georg Fischer) -- completes the divestment of iron foundry in Leipzig (Germany) to Linamar Corp. (LNR.CN)

        • PAX.SS (Paxman) -- announces 510k submission to the FDA for the Paxman cryocompression device to prevent CIPN

    • EU companies reporting Friday:

      • No major releases expected

  • Data:

    • Economics:

      • Greece Oct retail sales +4.2% y/y vs consensus (1.1%), prior (1.7%)

      • Portugal Dec preliminary CPI +2.2% y/y vs consensus +2.2%, prior +2.2%

    • Markets:

      • WTI Crude (Feb 26): +$0.21 or +0.36% to $58.16

      • €-$ +0.0004 or +0.03% to 1.1753

      • £-$ (0.0004) or (0.03%) to 1.3465

      • €-£ +0.0003 to 0.8727

      • 2025 performance:

        • STOXX Europe 600 +16.7%

        • DAX +23.0%

        • CAC +10.4%

        • FTSE 100 +21.5%

        • MIB +31.5%

        • IBEX +49.3%

        • PSI +29.6%

        • Switzerland SMI +14.4%

        • Netherlands AEX +8.3%

        • Austria ATX +45.4%

        • Belgium BEL 20 +19.1%

        • OMX Copenhagen 20 (23.5%)

        • OMX Helsinki 25 +32.2%

        • OMX Stockholm 30 +16.1%

        • Oslo OBX +20.2%

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