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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.26%, DAX +0.23%, CAC40 +0.27%

Jan 27 ,2026

  • Synopsis

    • European equity markets are set to open higher, with focus on earnings newsflow (LVMH due to report after market close)

    • On macro data front, European car sales rose for a third consecutive year in 2025, supported by strong demand for more affordable electric and hybrid models. BRC data recorded acceleration in UK shop prices in January and follow picked up consumer inflation expectations on Monday in Citi/YouGov survey. EY survey highlighted UK firms' profits hit by policy changes and geopolitics. French consumer confidence data due and Spanish unemployment.

    • In Asia, South Korea's Kospi quickly reversed an opening decline to trade at a fresh record high despite Trump's tariff threat. Solid gains for the Nikkei and Topix boards, Hang Seng leading Greater China stocks higher. President Trump threatened to hike tariffs on South Korean autos, lumber and pharma to 25% from 15%, blaming Korea's legislature for not yet enacting trade deal struck year. Market impact has been relatively muted as Trump's latest tariff threat meets usual skepticism he will follow through after his canceling of tariffs on EU over Greenland revived TACO trade. Trump gave no timeframe for when South Korea tariff hike will go into effect and White House has so far not issued formal order adjusting duties.

    • On today's agenda, in politics, EU-India summit, EU's von der Leyen, Šefčovič among the participants whilst EU's Kubilius speech/participates in the European Space Conf (through Wed). In the UK, MPs question Chancellor Reeves at 11:30GMT, whilst committee topics include the work of the Sec. of State for Defence at 14:00. Also on Tue, Handelsblatt Energy Summit (through Thu), WELT Economic Summit, Chancellor Merz speech and participates in a discussion at 12noon CET and Germany's Offshore Wind Energy Foundation press conf 'Status of Offshore Wind Energy Expansion in Germany 2025'. Speech by Adair Turner (has served in a number of prominent public roles in UK) at 18:30GMT at event hosted by LSE title Abundant clean energy for all: the technological opportunity.

    • In central banks, Bundesbank's Köhler-Geib panelist at 9:30CET conf on the future of the financial sector and Nagel is a panellist at 18:00 at event organised by the bank on the digital euro. Croatia central bank's Švaljek speech at 9:40 CET at Sofia Economic Forum whilst Hungary central bank is expected to leave the benchmark interest rate unchanged at 6.5%.

    • In earnings news, GEA Group (G1A.GR) reported preliminary Q4 earnings yesterday after the markets closed and indicated it expects organic sales growth of more than 5% and further margin improvements for 2026. In France, Airbus Helicopters (AIR.FP) reported orders numbers for 2025 and ID Logistics Group (IDL.FP) issued FY earnings and provided outlook for commentary. In Nordics, HMS Networks (HMS.SS) and Lightshop (BHG.SS) reported FY/Q4 earnings, whilst Vår Energi (VAR.NO) and Okea (OKEA.NO) reported FY/Q4 production numbers. Also due to report today includes, LVMH Moet Hennessy Louis Vuitton (MC.FP), Logitech International (LOGN.SW), Atlas Copco (ATCO.A.SS), Sandvik (SAND.SS) and Getinge (GETI.B.SS).

  • Politics/Macro/World News

    • US links security guarantees for Ukraine to peace deal ceding territory - FT

    • Cap for ground rent in England and Wales due to be announced - BBC

    • Labour expects to lose by-election after Andy Burnham blocked - The Times

    • Starmer finally goes to China - and tries not to trigger Trump - Politico

    • India, EU finalise landmark trade deal, PM Modi says - Reuters

    • Europe Car Sales Rise for Third Consecutive Year on EV Recovery - Bloomberg

    • UK Jan shop price inflation +1.5% vs consensus +0.7% and prior revised +0.7% from +0.6% - BRC

    • Finland Dec Unemployment Rate 9.8% vs consensus 9.5% and prior 9.7%

  • Top company news

    • Earnings/updates

      • DACHs

        • G1A.GR (GEA Group) -- Follow-up: GEA Group reports additional preliminary Q4 results

        • MTG.SW (Meier Tobler Group) -- reports FY adj consolidated profit CHF25.6M vs year-ago CHF31.6M; keeps divi unchanged but first tranche of buyback not taking place

      • France

        • AIR.FP (Airbus SE) -- Airbus Helicopters logs 544 gross order (net: 536) in 2025

        • IDL.FP (ID Logistics Group) -- reports FY revenue €3.74B vs FactSet €3.72B [7 est, €3.69-3.75B]; provides outlook commentary

      • Nordics

        • MSAB.B.SS (Micro Systemation) -- reports Q4 EPS SEK1.69 vs year-ago SEK1.32

        • BHG.SS (Lightshop (BHG Group)) -- reports Q4 adjusted EBIT SEK158.1M vs FactSet SEK144.2M [4 est, SEK109-164M]

        • HMS.SS (HMS Networks) -- reports FY adj EPS SEK13.73 vs FactSet SEK11.03 [6 est, SEK9.48-12.47]; announces SEK4.80/sh divi

        • VAR.NO (Vår Energi) -- Trading Update: FY production 332 Mboe/d vs guidance 330-335 Mboe/d

        • OKEA.NO (Okea) -- Q4 trading update: Total operating income $107M vs quarter-ago $224M

        • CAPSL.NO (Capsol Technologies) -- Trading Update: prelim. Q4 EBITDA (NOK15M)-(NOK17M) vs FactSet (NOK11.0M) [1 est]

        • XVIVO.SS (Xvivo Perfusion0 -- reports Q4 adjusted EBIT SEK36.8M vs FactSet SEK25.6M [6 est, SEK20.4-29.6M]

      • Also due to report today:

        • Earnings:

          • DACHs: Logitech International (LOGN.SW), Banque Cantonale du Jura (BCJ.SW)

          • France: LVMH Moet Hennessy Louis Vuitton (MC.FP)

          • Nordics: Atlas Copco (ATCO.A.SS), Sandvik (SAND.SS), Getinge (GETI.B.SS), Alleima (ALLEI.SS), BE Group (BEGR.SS)

          • UK: Sthree (STEM.LN)

        • Trading Update:

          • France: Aramis Group (ARAMI.FP)

          • UK: Sage Group (SGE.LN), Cranswick (CWK.LN), Evoke (EVOK.LN)

        • CMD/Events: Reckitt Benckiser Group (RKT.LN) EGM vote on special dividend, share consolidation, Talenom (THOM.FH) EGM vote on demerger plan

    • M&A

      • VOW.GR (Volkswagen) -- Blackstone, Yanmar and Brookfield emerge as potential bidders for majority stake in Volkswagen unit Everllence - Bloomberg (8:54 ET/14:54 CET)

      • PUM.GR (Puma) -- ANTA Sports Products agrees to acquire 43.0M shares in Puma at €35/sh

      • SFZN.SW (Siegfried Holding) -- to acquire drug substance business of Noramco Group and Extractas Bioscience; terms undisclosed

      • ALATA.FP (Atari, Inc.) -- announces Thunderful shareholders approve directed share issue to Atari

      • GIMB.BB (Gimv) -- to focus on Anchor, Consumer, Healthcare, Smart Industries, and Sustainable Cities; exits Life Sciences Platform

      • Calvary Health Care back in negotiations to acquire certain Healthscope hospitals - The Australian, citing sources

    • Healthcare

      • ROG.SW (Roche Holding) -- Roche announces positive Phase II results for its dual GLP-1/GIP receptor agonist CT-388 in people living with obesity

      • BIOA.B.SS (BioArctic) -- notes partner Eisai submits marketing authorisation variation to EMA for intravenous maintenance dosing every four weeks with Leqembi (lecanemab)

      • IBAB.BB (Ion Beam Applications) -- signs contract for a ProteusONE proton therapy system to be located at a hospital in New Taipei City

    • Other

      • ANIM.IM (Anima Holding SpA) -- appoints Saverio Perissinotto CEO effective 2-Feb-26

      • SESG.FP (SES) -- acknowledges Fitch's rating action and reiterates deleveraging plan

      • PIRC.IM (Pirelli & C.)

        • holders Camfin and Sinochem continue to discuss options to address governance and regulatory issues- Reuters

        • holder Sinochem proposes spin-off of Cyber Tire business -- IlSole24Ore

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- secures additional ocean bottom node (OBN) contract in Europe

      • DOCM.SW (DocMorris) -- repurchases 2026 convertible bonds with nominal value of ~CHF 14.4M

      • NOS.PL (NOS SGPS) -- NOS signs contract with Sport Lisboa e Benfica - Futebol for the tv and multimedia transmission rights for home matches for two sporting seasons

      • European Automobile Manufacturers' Association (ACEA) December new car registrations for EU + EFTA + UK +7.6% y/y

      • Microsoft releases new AI chip and Meta subject to stricter EU oversight in intraday themes (26-Jan)

      • Operators of Karachaganak field face up to $4B liability following Int'l arbitration case loss in Kazakhstan dispute - Bloomberg

  • Key rating changes

    • Upgrades

      • ABBN.SW (ABB Limited) -- to buy from hold at Kepler Cheuvreux

      • BRBY.LN (Burberry Group) -- to overweight from equal weight at Barclays

      • MOWI.NO (Mowi) -- to buy from hold at Arctic Securities

      • SAMPO.FH (Sampo) -- to accumulate from reduce at Inderes

      • HTRO.SS (Hexatronic Group) -- to buy from hold at ABG Sundal Collier

    • Downgrades

      • KLARA.B.SS (KlaraBo) -- to hold from buy at Handelsbanken

      • FNAC.FP (Fnac Darty) -- to hold from buy at Kepler Cheuvreux

      • ATRLJ.B.SS (Atrium Ljungberg) -- to hold from buy at Kepler Cheuvreux

      • JYSK.DC (Jyske Bank) -- to hold from buy at ABG Sundal Collier

      • TTE.FP (TotalEnergies) -- to reduce from hold at Kepler Cheuvreux

      • SIE.GR (Siemens) -- to reduce from hold at Kepler Cheuvreux

      • ALO.FP (Alstom) -- to reduce from hold at Kepler Cheuvreux

    • Other Actions

      • BC.IM (Brunello Cucinelli) -- resumed overweight at Morgan Stanley

  • Data

    • Nikkei +0.85% to 53333.54

    • Hang Seng +1.29% to 27110.70

    • Shanghai Composite +0.25% to 4142.97

    • S&P futures +21.0 vs prior close of 6981.3

    • €-$ (0.0002) or (0.02%) to 1.1879

    • $-¥ +0.22 or +0.14% to 154.42

    • €-¥ +0.20 or +0.11% to 183.41

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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