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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE (0.5%), DAX (0.3%), CAC (0.3%), IBEX (0.3%), MIB (0.5%)

Jan 08 ,2026

  • Synopsis

    • European equity markets set to open broadly lower after a mixed close on Wednesday.

    • Asia equities mostly lower Thursday. Japan benchmarks lower as the diplomatic spat with China over Taiwan shows no sign of abating.

    • Broader loss of direction seen as reflection of growing near term uncertainty. Geopolitical risk offers an obvious reason as markets continue to monitor Venezuela developments and potential repercussions to other regions. Trump social media posts on housing investment (institutional ban on single family house purchases) and defense (won't allow buybacks among defense companies until they step up production to meet government demand) were also notable sources of volatility. Elevated event risk also explaining much of the plateau in sentiment. Focus remains on US data, including Friday's US payrolls. Other themes to consider include the Fed chair appointment, Q4 earnings (major bank results due next week) and Supreme Court ruling on Trump tariffs.

    • European macro releases out today include Germany Nov factory orders, industrial production, France Nov trade balance, Italy Nov unemployment rate, Eurozone Dec economic sentiment indicator, Nov PPI, unemployment rate, Switzerland Dec CPI, Norway Nov manufacturing production, Sweden Dec preliminary CPI, Denmark Nov unemployment rate, UK Dec house price index - Halifax

    • Focus on earnings/updates from Tesco (TSCO.LN) and Marks & Spencer (MKS.LN) in the UK. In France, Sodexo (SW.FP) reports Q1 Organic growth +1.8% vs consensus +1.5% and reiterates FY26 guidance. Dassault Aviation (AM.FP) increases FY sales guidance to over €7.00B vs prior guidance €6.50B

    • In central banks, SNB releases at 9:30CET minutes of last MPC meeting, the same time as ECB's de Guindos is in fireside chat at Vocento's 2nd Edition of Next Spain Global. ECB releases results of latest consumer expectations survey at 10:00CET.

    • EU-Jordan summit takes place - includes EU's von der Leyen and Costa as well as Jordan's King Abdullah II. Norway's PM Støre presents the Government's plan for Norway in the Storting at 10:00CET, the same time as the Norwegian Offshore Directorate presents a summary of activity on the Norwegian continental shelf (NCS) over the past year. Resolution Foundation hosts event at 9:30GMT title Growing pains? What's in store for UK politics, economics and living standards in 2026.

  • Macro/politics

    • Copper in the Age of AI: The Critical Metal Facing a 10 Million Ton Shortfall by 2040 -- S&P

    • Rubio to meet Denmark leaders next week, signals no retreat on Trump's Greenland goal -- Reuters

    • EU to cut fertiliser duties to push through Mercosur trade deal -- Reuters

    • ECB's Pereira Says Price Stability in Place, Urges EU Reforms -- Bloomberg

  • Top company news

    • Earnings/updates

      • ABVX.FP (Abivax) -- provides 2026 pipeline outlook

      • SW.FP (Sodexo) -- reports Q1 revenue €6.26B vs year-ago €6.40B; reiterates FY26 guidance

      • AM.FP (Dassault Aviation) -- increases FY sales guidance to over €7.00B vs prior guidance €6.50B

      • PHARM.NA (Pharming Group) -- reports preliminary FY revenue $376M vs FactSet $370.2M [4 est, $366.8-372.7M]

      • OVH.FP (OVHCloud) -- reports Q1 revenue €263.5M, (4%) vs year-ago €275.3M

      • VLTSA.FP (Voltalia) -- provides update on achieving total capacity target of 3.6gigawatts; reaffirms FY25 EBITDA target

      • SLIGR.NA (Sligro Food Group) -- reports preliminary FY revenue €2.67B vs FactSet €2.68B [4 est, €2.65-2.71B]

      • BSLN.SW (Basilea Pharmaceutica) -- provides portfolio update and outlook

      • Also reporting today

        • Trading Update:

          • France: GenSight Biologics (SIGHT.FP)

          • UK: Tesco (TSCO.LN), Greggs (GRG.LN), Marks & Spencer (MKS.LN)

        • Traffic: Finnair (FIA1S.FH)

        • CMD/Events: Novonesis (NSIS.B.DC) spotlight educational session in dairy at 14:00CET (webcast/conf call link), Jungfraubahn Holding (JFN.SW) investor day

    • M&A

      • SHEL.LN (Shell Plc) -- Sembcorp, NIIF and KKR vying to acquire Shell Plc's Sprng Energy - Economic Times (06:00 IST, 08:30 SGT, 11:30 AEDT)

      • TEF.SM (Telefonica) -- Millicom International Cellular reportedly considering buying Telefonica's Chilean unit - Bloomberg

      • OLPX (Olaplex Holdings) -- Olaplex trading higher; Bloomberg reports company receiving takeover interest from Henkel (HEN3.GR)

      • ANTIN.FP (Antin Infrastructure Partners) -- Antin to acquire medical equipment rental specialist Emsere

      • MTG.B.SS (Modern Times Group MTG) -- MTG provides update on PlaySimple ownership stake; to reduce its holding of shares and votes to below 5%

      • MUX.GR (Mutares SE & Co KGaA) -- signs agreement to acquire the Engineering Thermoplastics Business in the Americas and Europe of SABIC for an Enterprise Value of $450M.

    • Healthcare

      • MRK.GR (Merck KGaA) -- UK MHRA approves Ogsiveo for progressing desmoid tumours in adults

      • MRK.GR (Merck KGaA) -- NICE recommends Merck KGaA's Bavencio with axitinib for untreated advanced RCC

      • DBV.FP (DBV Technologies) -- SEC filing: SCHEDULE 13D/A (Filed by Bpifrance Participations SA)

      • SOBI.SS (Swedish Orphan Biovitrum) -- reports positive Phase 2a EMBRACE results for Gamifant in IFN-?-Driven sepsis

      • YPSN.SW (Ypsomed Holding) -- expands offering for clinical studies

      • AB.FP (AB Science) -- reports fourth consecutive case of response from Phase 1 data for the combination of AB8939 with venetoclax for the treatment of refractory or relapsed acute myeloid leukemia

      • SIGHT.FP (GenSight Biologics) -- announces closing of fundraising worth ~€2.9M

    • Other

      • UBSG.SW (UBS Group) -- capital compromise plan gets backing of largest Swiss party - wires

      • AVOL.SW (Avolta) -- awarded two 10-year contracts at Palm Beach International Airport

      • VK.FP (Vallourec) -- announces €200M share buyback

      • TOM2.NA (TomTom) -- enhances automotive navigation solutions through integration of Azure OpenAI

      • AKSO.NO (Aker Solutions) -- secures long-term maintenance and modifications frame agreements with Equinor

      • CMBT.BB (CMB.TECH) -- provides Fleet Update

      • VU.FP (VusionGroup) -- simplifies brand name and adopts just Vusion as its new company and brand name

      • ZEG.LN (Zegona Communications) -- pays €1.4B special dividend to shareholders and fully repays Vodafone financing

      • Moreld Apply awarded frame agreement for extended modifications with Equinor

      • Polymarket, Dow Jones partner on prediction market data; Trump seeks to limit institutional investors buying single family homes in intraday themes (7-Jan)

      • BYW6.GR (BayWa) -- CEO faces increased shareholders dissatisfaction - - Handelsblatt

  • Key rating changes

    • Upgrades

      • BNP.FP (BNP Paribas) -- to buy from neutral at UBS

      • BOL.SS (Boliden) -- to equal weight from underweight at Barclays

      • ETE.GA (National Bank of Greece) -- to buy from hold at Deutsche Bank

      • VOLV.B.SS (Volvo) -- to buy from neutral at Goldman Sachs

      • RAA.GR (Rational) -- to buy from hold at Berenberg

    • Downgrades

      • ANTO.LN (Antofagasta) -- to sell from hold at Deutsche Bank

      • BUCN.SW (Bucher Industries) -- to hold from buy at Berenberg

    • Mixed

      • Jefferies reinstates EQNR.NO; upgrades REP.SM, TTE.FP; downgrades GALP.PL

      • Jefferies upgrades CATE.SS, CTPNV.NA, SAFE.LN; downgrades COV.FP; others

  • Data

    • Nikkei (1.63%) to 51117.26

    • Hang Seng (1.59%) to 26038.36

    • Shanghai Composite (0.09%) to 4081.99

    • S&P futures (22.8) vs prior close of 6963.3

    • €-$ +0.0008 or +0.07% to 1.1683

    • $-¥ (0.20) or (0.13%) to 156.57

    • €-¥ (0.14) or (0.08%) 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.
Please refer to "Terms Of Use".

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