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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE +0.6%, DAX +0.2%, CAC +0.3%, IBEX +0.3%, MIB +0.5%

Jan 15 ,2026

  • Synopsis

    • European equity markets set to open broadly higher. Focus remains on geopolitical dynamics. Notably, oil selling off after Trump tempered Iran rhetoric. WTI Crude (Feb 26) (2.82%) to $60.27. Gold declining with platinum and palladium under pressure after Trump held off on critical minerals tariffs.

    • Asian equities mixed Thursday. Japan pulling back following record-setting streak. Greater China also lower, extending Wednesday pullback after regulators raised minimum margin requirements. BOK left policy rate unchanged at 2.50% as expected in a unanimous decision. TSMC profit surges to record, beating estimates amid strong AI demand.

    • Back in Europe, focus on luxury sector as Richemont (CFR.SW) reports better than expected Q3 sales, with Jewellery Maison driving the beat. Sales were up 11% at constant rates vs consensus +8.0%, with Jewellery +14% vs consensus +10.5%

    • European macro data releases out today include Germany FY GDP, UK Nov industrial/manufacturing production, trade balance, construction output, Dec house price balance - RICS, monthly GDP tracker - NIESR, France Dec final CPI, Italy Nov industrial production, trade balance, Spain Dec final CPI, Eurozone Nov industrial production, trade balance, Norway Dec trade balance, Sweden Dec final CPI, Austria Dec final CPI, Ireland Dec CPI, Netherlands Dec unemployment rate

    • In central banks, ECB's de Guindos in exchange of views with EP committee hearing at 10:00CET on the outcomes of the ECB High-Level Task Force on Simplification (livestream). Norges Bank's latest lending survey released at 10:00CET, whilst Denmark central bank's Thomsen speech at 12:00CET at the Municipal Economic Forum, Riksbank's Bunge speech at 15:00CET at KEF conf Ekonomichefsdagarna, and Latvia central bank's Kazāks participates in the Latvian radio program 'Krustpunktā'. OPEC publishes its latest monthly oil market report. ECB economic bulletin released at 10:00CET and BOE releases latest credit conditions and bank liabilities surveys.

    • Elsewhere, there's European Medicines Agency (EMA) press briefing at 14:00CET: Human medicines in 2025, which includes chief medical officer Thirstrup among the participants. In politics, Norway's fisheries and the oceans minister Næss participates in the AqKva conf in Bergen and PM Støre delivers a lecture at 12noon CET title 'Norway in troubled times'.

    • Elsewhere, German Wind Energy Assn, German Wind Energy Assn and VDMA Power Systems hold joint press conf at 11:00CET on the status of onshore wind energy expansion. Nueva Economía Fórum event (livestream) at 9:00CET with Aena's (AENA.SM) Maurici Lucena.

  • Politics/Macro/World News

    • UK Dec house price balance (14%) vs consensus (16%) and prior revised (14%) from (16%) - RICS

    • Bank of England accused of making 'mistake' in loosening capital rules -- FT

    • ECB urged to remain vigilant as risks rise following attack on Fed (Reuters)

    • 2026 budget measure could exempt 200,000 households from income tax (Le Parisien)

    • Netherlands Dec Unemployment Rate 4.0% vs consensus 4.0% and prior 4.0%

  • Top company news

    • Earnings/updates

      • CFR.SW (Richemont) -- reports Q3 sales €6.40B vs StreetAccount €6.26B; sales up 11% at constant rates vs consensus +8.0%

      • REP.SM (Repsol) -- Q4 Trading Statement; a new Group reporting model by business segment adopted from Q4 of 2025

      • TEMN.SW (Temenos) -- reports Q4 non-IFRS EBIT $106.3M vs FactSet $90.2M [5 est, $85-96.4M]

      • VACN.SW (VAT Group) -- reports preliminary Q4 revenue CHF257M vs StreetAccount CHF237.5M

      • GEBN.SW (Geberit) -- reports Q4 net sales CHF715M vs consensus CHF713.1M; expects FY25 EBITDA margin slightly below 29.5%

      • PGHN.SW (Partners Group Holding) -- received $30.2B in total new assets in 2025 vs guidance between $26-31B

      • FHZN.SW (Flughafen Zuerich) -- reports Dec traffic statistics

      • ASCN.SW (Ascom Holding) -- reports preliminary FY revenue CHF292.1M vs year-ago CHF286.7M

      • BOSN.SW (Bossard Holding) -- reports Q4 net sales CHF257.8M, +9% vs year-ago CHF236.0M

      • OMV.AV (OMV) -- Q4 Trading Update: total hydrocarbon production of 300 kboe/d vs year-ago 337 kboe/d

      • Also reporting today

        • Earnings:

          • UK: Safestore Holdings (SAFE.LN)

        • Trading Update:

          • Benelux: Fastned (FAST.NA)

          • DACHs: Valiant Holding (VATN.SW), OMV (OMV.AV)

          • UK: Taylor Wimpey (TW.LN), Dunelm Group (DNLM.LN), Rathbones Group (RAT.LN), Ashmore Group (ASHM.LN), Brooks MacDonald Group (BRK.LN), Fuller, Smith & Turner (FSTA.LN), CAB Payments Holdings (CABP.LN), Robert Walters (RWA.LN)

          • Other: Pepco Group (PCO.PW), Glenveagh Properties (GVR.ID)

        • Traffic: Aeroport de Paris (ADP.FP)

    • M&A

      • OXB.LN (OXB) -- confirms receiving unsolicited cash offer approach from EQT for entire share capital

      • TKA.GR Jindal Steel reportedly pushing for further cost-cutting measures at Thyssenkrupp Steel Europe -- Rheinische Post

      • VOW3.GR (VW) -- Volkswagen's Everllence SE attracts PE interest -- Bloomberg

    • Healthcare

      • JNJ (Johnson & Johnson) -- announces topline results from the investigational Phase 3 MajesTEC-9 study of TECVAYLI

      • SAN.FP (Sanofi) -- announces Myqorzo and Redemplo approved in China

      • DBV.FP (DBV Technologies) -- SEC filing: SCHEDULE 13D/A (Filed by BAKER BROS. ADVISORS LP)

      • ABVX.FP (Abivax) -- holder Sofinnova Crossover (SC) files amended 13D; discloses 7.7% stake - 13D/A

      • ZEAL.DC (Zealand Pharma) -- Transcript Intelligence: Zealand Pharma at J.P. Morgan Healthcare Conference

      • ZEAL.DC (Zealand Pharma) -- says Boehringer's progress in treatments for metabolic disorders is underappreciated - CEO at JPM conference

      • IDIA.SW (Idorsia) -- Transcript Intelligence: Idorsia at J.P. Morgan Healthcare Conference

      • PRTC.LN (PureTech Health) -- Transcript Intelligence: PureTech Health at J.P. Morgan Healthcare Conference

      • SANN.SW (Santhera Pharmaceuticals Holding) -- Santhera Pharmaceuticals' AGAMREE get approval from Swiss Agency for Therapeutic Products for the treatment of Duchenne muscular dystrophy (DMD) in patients four years of age and older

      • EMEIS.FP (Emeis SA) -- creates the previously announced healthcare real estate company, Isemia, with Farallon Capital and TwentyTwo Real Estate

      • XVIVO.SS (Xvivo Perfusion) -- Transcript Intelligence: Xvivo Perfusion at J.P. Morgan Healthcare Conference

      • EUZ.GR (Eckert & Ziegler Strahlen- und Medizintechnik) -- Transcript Intelligence: Eckert & Ziegler Strahlen- und Medizintechnik at J.P. Morgan Healthcare Conference

      • CRNA.NO (Circio Holding) -- announces commencement of the subscription period for the rights issue

    • Other

      • G.IM (Assicurazioni Generali) -- appoints Giulio Terzariol as Group Deputy CEO

      • SWED.A.SS (Swedbank) -- announces that DOJ has closed investigation

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- announces new OBN multi-client survey in the Gulf of America

      • China reportedly also warns companies against using software from CyberArk, Rapid7, Crowdstrike, others -- Bloomberg (earlier, intraday)

      • Rio Tinto and BHP enter MOU to extract up to 200Mt of iron ore at the Pilbara

  • Key rating changes

    • Upgrades

      • FDEV.LN (Frontier Developments) -- to buy from hold at Deutsche Numis

      • NOKIA.FH (Nokia) -- to overweight from equal-weight at Morgan Stanley

      • SWED.A.SS (Swedbank) -- to neutral from underperform at Autonomous Research

      • NHY.NO (Norsk Hydro) -- to buy from hold at Pareto

    • Downgrades

      • PNDORA.DC (Pandora) -- to neutral from outperform at BNP Paribas Exane (earlier, timing uncertain)

      • REP.SM (Repsol) -- to underperform from sector perform at RBC Capital Markets

      • EZJ.LN (EasyJet) -- to sell from hold at Deutsche Numis

      • PSN.LN (Persimmon) -- to hold from buy at Deutsche Numis

      • AZE.BB (Azelis Group) -- to reduce from hold at Kepler Cheuvreux

      • BFF.IM (BFF Bank SpA) -- to hold from buy at Kepler Cheuvreux

      • ARJO.B.SS (Arjo) -- to hold from buy at Handelsbanken

    • Initiations

      • MICC.NA (Magnum Ice Cream Co) -- outperform at Oddo

    • Other Actions

      • AKER.NO (Aker ASA) -- reinstated buy at DNB Carnegie; prior rating was buy

  • Data

    • Nikkei (0.42%) to 54110.50

    • Hang Seng (0.44%) to 26880.34

    • Shanghai Composite (0.46%) to 4107.18

    • S&P futures +8.8 vs prior close of 6966.3

    • €-$ (0.0010) or (0.09%) to 1.1636

    • $-¥ +0.14 or +0.09% to 158.60

    • €-¥ (0.04) or (0.02%) to 184.49

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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