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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE (0.24%), DAX +0.21%, CAC40 +0.41%

Jan 07 ,2026

  • Synopsis

    • European equity markets are set for a mixed open amidst Asia equities stalling in their new year's rally. Declines in Japan triggered by ratchet higher in diplomatic tryst with Beijing. Mainland China markets also lower, Hang Seng underperforming. South Korea and Taiwan seeing red as profit taking sets in. Small gains for the ASX and in Singapore, India flat, Southeast Asia still positive. US futures edge lower.

    • Bullish sentiment remains the main theme, kicking off a strong start to the year especially in Asia. AI optimism most frequently cited as a key driver. Market attention on Venezuela increasingly breaking down to crude oil implications (while also compounding broader geopolitical risks). President Trump said on social media that Venezuela will send 30-50M barrels of oil to US at market prices and proceeds to be controlled by Trump. UK and France have signed a declaration of intent on deploying troops in Ukraine if a peace deal is made with Russia.

    • In the UK, following MPs questions on Northern Ireland, the first weekly PMQs following Christmas break at 12noon GMT and then Opposition Day Debate (topic tba) whilst committee topics include The Seventh Carbon Budget at 14:30. Norway's finance minister Stoltenberg keynote address at ~18:00CET at a symposium held to mark the 70th birthday of Germany's President Steinmeier. Stoltenberg will also meet with the Federal President, Chancellor Merz and minister of finance Klingbeil. Norway's PM Støre, ministers for Fisheries & Oceans and Energy, Næss and Aasland, others, attend Norwegian Confederation of Employers' (NHO) annual conf. EU's Hansen, Šefčovič and Várhelyi host a meeting of EU agriculture ministers in Brussels to discuss the future of farming and food security in Europe and outline the main expectations for EU action in 2026. Cyprus' opening ceremony of the Presidency of the Council of the EU at 17:00CET.

    • Macro data due for release include Germany Dec unemployment rate, construction PMI, Nov retail sales, France Dec consumer confidence, Italy/Finland/Austria/Netherlands Dec preliminary CPI, Eurozone Dec flash CPI, Sweden Dec services PMI, Ireland Dec unemployment rate, Austria Nov PPI, UK Dec construction PMI, Portugal Nov unemployment rate

    • In earnings, Redcare Pharmacy (RDC.GR) reports prelim Q4 revenue €794M vs FactSet €817.3M whilst in Norway, Salmar (SALM.NO) reports Q4 consolidated harvest volumes (1,000 tgw) 84.1 and Lerøy Seafood Group (LSG.NO) is out with Q4 total harvest volume of salmon and trout (GWT) 49,300 vs year-ago 56,800.

  • Politics/Macro/World News

    • UK and France to send troops to Ukraine if peace deal agreed -- BBC

    • French Government Sees Deficit Near 5.4% If No 2026 Budget - Bloomberg

    • White House says using US military is 'always an option' for acquiring Greenland - Guardian

    • Finland Dec Preliminary HICP +1.8% y/y vs consensus +1.6% and prior +1.5%

    • Netherlands Dec Preliminary CPI +2.8% y/y vs consensus +2.9% and prior +2.9%

  • Top company news

    • Earnings/updates

      • DACHs:

        • RDC.GR (Redcare Pharmacy) -- reports prelim Q4 revenue €794M vs FactSet €817.3M [4 est, €810-822.3M]

        • GLJ.GR (GRENKE) -- reports FY leasing new business €3.29B vs guidance of €3.2-3.4B

      • Nordics:

        • SALM.NO (Salmar) -- reports Q4 consolidated harvest volumes (1,000 tgw) 84.1

        • LSG.NO (Lerøy Seafood Group) -- Q4 trading update: total harvest volume of salmon and trout (GWT) 49,300 vs year-ago 56,800

        • EMGS.NO (Electromagnetic Geoservices) -- reports Q4 vessel activity and multi-client sales update

        • BNOR.NO (BlueNord) -- reports preliminary Dec net production 47.4 mboepd

    • M&A

      • HO.FP (Thales) -- Covivio and Blue Owl Capital announce €503M strategic partnership to share Thales sites in Vélizy

      • LAND.SW (Landis+Gyr) -- EU clears AURELIUS' acquisition of Landis+Gyr's EMEA business

      • OS (OneStream) -- to be acquired by Hg

      • LKOH.RU (Lukoil) -- Chevron, Quantum Energy Partners working together on joint bid for Lukoil's international assets, valued at $22B - FT

      • SHEL.LN (Shell Plc) -- signs deal to acquire 35% stake in two offshore oil blocks in Angola from Chevron subsidiary; terms not disclosed - Bloomberg

      • SIE.GR (Siemens AG) -- Siemens eyeing acquisitions in AI, life sciences and operations software - Bloomberg

      • TKA.GR (ThyssenKrupp) -- considering selling TKSE in several stages - Reuters

      • RUM (Rumble) -- announces confidential submission of S-4 in connection with previously proposed business combination with Northern Data

      • KBC Group and Van Lanschot Kempen Investment Banking to combine specialist equities activities into 50/50 JV

    • Healthcare

      • BAYN.GR (Bayer AG) -- Bayer files patent infringement complaint against Covid-19 vaccine makers regarding use of IP to improve mRNA stability - The Independent

      • VTYX (Ventyx Biosciences) -- Shares of Ventyx Biosciences continue higher in after-hours

      • 4523.JP (Eisai) -- EA Pharma initiates Phase III trial of EA8001 in Japan (earlier, timing uncertain)

      • GNFT.FP (GENFIT) -- announces Ph 1 safety profile and anti-inflammatory activity for ACLF lead asset G1090l

      • ADXN.SW (Addex Therapeutics) -- announces Neurosterix starts a Phase 1 clinical study with NTX-253 for Schizophrenia

    • Other

      • EXA.FP (Exail Technologies) -- announces signing of two contracts for DriX H-9 surface drone

      • NDX1.GR (Nordex) -- obtains orders for 414 MW in France, Belgium and Portugal (

      • BSLN.SW (Basilea Pharmaceutica) -- and Prokaryotics enter collaboration to develop a broad-spectrum antifungal for the treatment of severe invasive infections

      • SIE.GR (Siemens AG) -- and NVIDIA expand partnership to build industrial AI operating system

      • SGO.FP (Compagnie de Saint-Gobain) -- announces intention to delist from the London Stock Exchange

      • ORSTED.DC (Ørsted) -- Sunrise Wind to challenge US's 22-Dec lease-suspension order in court

      • IDR.SM (Indra Sistemas) -- Indra Group awarded FAA radar system replacement contract

      • TE.FP (Technip Energies) -- wins two large contracts totaling €250M-€500M for Bina and Mumbai refineries in India

      • ECMPA.NA (Eurocommercial Properties) -- declares an interim dividend for the financial year ended on 31-Dec-25 of €0.72 in cash per share

      • ComEx to require financial commitment for large scale projects to keep costs down; Nestle recalls formula products in intraday themes (6-Dec)

      • MSCI announces it will not exclude digital asset treasury companies from its indices as part of February 2026 index review

      • Tradeweb Markets discloses amendments to master data license agreement with Refinitiv - 8-K

  • Key rating changes

    • Upgrades

      • Barclays upgrades BAYN.GR, NOVN.SW, ROG.SW; downgrades BIM.FP, DIA.IM, GSK.LN, others

      • Bernstein upgrades ABBN.SW, ATCO.A.SS; resumes ASSA.B.SS, ENR.GR, SIE.GR

      • ATCO.A.SS (Atlas Copco) -- to outperform from market perform at Bernstein

      • ELISA.FH (Elisa Oyj) -- to buy from neutral at UBS

      • LHA.GR (Deutsche Lufthansa) -- to overweight from underweight at Morgan Stanley

      • MT.NA (ArcelorMittal) -- to overweight from equal-weight at Morgan Stanley

      • VOD.LN (Vodafone Group) -- to buy from hold at Berenberg

    • Downgrades

      • RXL.FP (Rexel) -- hold from buy at Kepler Cheuvreux

      • ELISA.FH (Elisa) -- to underperform from neutral at BNP Paribas Exane

      • NWG.LN (NatWest Group) -- to equal weight from overweight at Barclays

      • SW.FP (Sodexo) -- to underweight from equal-weight at Morgan Stanley

      • EVK.GR (Evonik Industries) -- to sell from hold at Berenberg

      • TUI1.GR (TUI Group) -- to hold from add at Peel Hunt

    • Initiations

      • MICC.NA (Magnum Ice Cream Co) -- hold at Jefferies

      • IRES.ID (Irish Residential Properties REIT) -- outperform at Oddo

      • AVIO.IM (Avio) -- buy at Jefferies

  • Data

    • Nikkei (1.06%) to 51961.98

    • Hang Seng (1.25%) to 26377.58

    • Shanghai Composite (0.06%) to 4081.35

    • S&P futures (5.5) vs prior close of 6987.8

    • €-$ +0.0011 or +0.09% to 1.1701

    • $-¥ (0.31) or (0.20%) to 156.37

    • €-¥ (0.22) or (0.12%) to 182.91

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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