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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE +0.09%, DAX +0.04%, CAC40 (0.34%)

Jan 28 ,2026

  • Synopsis

    • European equity markets are set for a mostly positive open amidst largely higher equities in Asia on Wednesday. Strong gains for Hong Kong in a broad rally while mainland markets remain mixed. Kospi and Taiex surging again on tech gains, India higher on conclusion of the EU trade deal. MSCI Asia Pac ex Japan index surging to another record high. More losses for the Nikkei and Topix, Singapore also lower. Australia a few points down. Indonesia stocks sharply lower on a liquidity warning from MSCI. US futures higher.

    • UK PM Starmer is in China ahead of meetings with President Xi Jinping on Thur. Leaders of political parties in the Netherlands have agreed to form a rare minority government. EU's Hoekstra attends the EP Committee (livestream) on the revision of the CO2 standards for cars and vans and on the strengthening of the Carbon Boarder Adjustment Mechanism. In the UK, weekly PMQs at 12noon GMT is followed by and Opposition Day debate (topic tbc) whilst committee topics include UK's future relationship with the US at 11:30, unlocking community energy at scale ay 15:00. Oxford Economics event at 9:30GMT Global Economic Outlook Conf.

    • In central banks, ECB's Elderson introductory statement at 11:00CET (livestream) at appointment hearing at EP Committee whilst ECB's Schnabel takes part in a presentation at 19:00CET at Women's Network Meeting of the Baden-Baden Entrepreneur Talks. In politics, Germany Economy Ministry's annual economic report published. Federal Financial Supervisory Authority (BaFin) press conf. 'Risks in Focus 2026'. Chancellor Merz hosts Romanian PM Boloyan.

    • Macro data include Germany Feb GfK consumer confidence, Italy Jan business/consumer confidence and Ireland Dec retail sales

    • A busy earnings front sees LVMH Moet Hennessy Louis Vuitton (MC.FP) reporting FY net income €10.88B vs consensus €10.89B and Christian Dior (CDI.FP) reporting FY net income €4.53B, (13%) vs year-ago €5.21B. From the Benelux region, ASML Holding (ASML.NA) reported Q4 net income €2.84B vs FactSet €2.93B and Royal KPN (KPN.NA) reported Q4 net income €240M vs FactSet €248.4M and announced €250M buyback and FY26 guidance. In Switzerland, Logitech International (LOGN.SW) reported Q3 and Lonza Group (LONN.SW) is out with FY result. Elsewhere, Volvo (VOLV.B.SS), Tele2 (TEL2.B.SS) and SSAB (SSAB.A.SS) reported Q4 earnings and Salvatore Ferragamo (SFER.IM) is out with prelim FY25 revenue €976.5M vs consensus €972.1M.

  • Politics/Macro/World News

    • Dutch parties agree on rare minority government - Reuters

    • Pubs to get 15% cut to business rates bill after government U-turn - FT

    • Merz's conservatives push to stop far-right surge in Germany's east - politico

    • Starmer vows to remain 'clear-eyed' over national security as he flies to China - Guardian

  • Top company news

    • Earnings/updates

      • Benelux:

        • ASML.NA (ASML Holding) -- reports Q4 net income €2.84B vs FactSet €2.93B [22 est, €2.85-3.11B]

        • NSI.NA (NSI NV) -- reports preliminary FY EPRA EPS €2.10 vs year-ago €2.09

        • KPN.NA (Royal KPN) -- reports Q4 net income €240M vs FactSet €248.4M [2 est, €191.9-304.8M]; announces €250M buyback and guides FY26

      • DACHs:

        • LOGN.SW (Logitech International) -- reports Q3 EPS $1.69 vs StreetAccount $1.76

        • LONN.SW (Lonza Group) -- reports FY core EPS CHF15.08 vs consensus CHF17.23

        • WCH.GR (Wacker Chemie) -- reports preliminary FY adjusted EBITDA €530M vs FactSet €562.8M [15 est, €536.1-585M]

      • France:

        • MC.FP (LVMH Moet Hennessy Louis Vuitton) -- reports FY net income €10.88B vs consensus €10.89B; keeps divi unchanged

        • CDI.FP (Christian Dior) -- Christian Dior reports FY net income €4.53B, (13%) vs year-ago €5.21B

        • ARAMI.FP (Aramis Group) -- reports H1 revenue €550.4M, (5%) vs year-ago €578.2M

        • LIN.FP (Linedata Services) -- reports FY revenue €169.6M vs FactSet €170.1M [2 est, €167.1-173M]

      • Nordics:

        • DOM.SS (Dometic Group) -- reports Q4 adjusted EPS (SEK0.39) vs FactSet SEK0.12 [6 est, (SEK0.09)-0.38]

        • VOLV.B.SS (Volvo) -- reports Q4 EPS SEK4.73 vs FactSet SEK4.50 [12 est, SEK3.94-5.74]

        • TEL2.B.SS (Tele2) -- reports Q4 adjusted net income SEK1.20B vs consensus SEK1.25B; increases divi by 65% and guides FY26

        • SCHO.DC (Schouw & Co) -- expects 2025 EBITDA DKK 2.875B vs FactSet DKK 2.91B

        • ELAN.B.SS (Elanders) -- reports Q4 adj EPS SEK1.77 vs year-ago SEK 0.66

        • SSAB.A.SS (SSAB) -- reports Q4 EPS SEK0.44 vs consensus SEK0.48

      • Southern Europe:

        • SFER.IM (Salvatore Ferragamo) -- reports prelim FY25 revenue €976.5M vs consensus €972.1M

    • M&A

      • MC.FP (LVMH Moet Hennessy Louis Vuitton) -- increases stake in Loro Piana from 85% to 94% for €1B

      • DAL (Delta Air Lines) -- announces agreement with Airbus to purchase several A330 and A350 aircrafts

      • BPE.IM (BPER Banca) -- announces ECB authorizes merger by absorption of Banca Popolare di Sondrio (post EU close 27-Jan)

      • TNXT.IM (Tinexta) -- CONSOB suspends the time limit for the review of Zinc BidCo (Advent and Nextalia) offer to acquire Tinexta (post EU close 27-Jan)

      • WTW (Willis Towers Watson) -- WTW completes acquisition of Newfront

      • IPS.FP (Ipsos) -- announces acquisition of Seventh Decimal; price not disclosed

      • BEKB.BB (Bekaert) -- enters into agreement with Bridgestone to acquire tire reinforcement business in China and Thailand for €60M cash

      • Retirement business Lincoln Place expected to launch sale process in March - The Australian

    • Healthcare

      • ALBPS.FP (Biophytis) -- enters strategic agreement in Asia and secures $20M for launch of Phase 3 trial of BIO101 in sarcopenia

      • IDIA.SW (Idorsia) -- announces an exclusive license and supply agreement with EMS for QUVIVIQ in Latin America

      • +BOEHRINGER (Boehringer Ingelheim) -- Boehringer Ingelheim's apecotrep delivers proteinuria reduction in Phase II kidney trial

      • GBT.FP (Guerbet) -- announces approval by EC of new indication in children from birth for Elucirem in EU

    • Other

      • ALSEN.FP (Sensorion) -- Announces €60M Financing With a €20M Strategic Investment from Sanofi

      • DIA.IM (Diasorin) -- approves launch of up to 4.5M share buyback; shareholders authorize the cancellation of up to 6.5M treasury shares

      • G.IM (Assicurazioni Generali) -- commences up to €280M share buyback program

      • DRX.LN (Drax Group) -- Drax Group's Asia ambitions in danger as Japan winds back generous subsidies for biomass sector - FT

      • DAE.SW (Dätwyler Holding) -- Dätwyler Holding's near-term, group-wide greenhouse gas reduction targets validated by SBTi

      • Court stays US Interior Department order halting construction of Vineyard Wind 1 project -- Bloomberg

  • Key rating changes

    • Upgrades

      • RILBA.DC (Ringkjøbing Landbobank) -- hold from sell at ABG Sundal Collier

      • PGHN.SW (Partners Group Holding) -- buy from hold at Kepler Cheuvreux

      • TEL.NO (Telenor) -- buy from sell at DNB Carnegie

      • GETI.B.SS (Getinge) -- to buy from hold at Pareto

    • Downgrades

      • ALLEI.SS (Alleima) -- hold from buy at DNB Carnegie

      • ATCO.A.SS (Atlas Copco) -- hold from buy at ABG Sundal Collier

      • BOL.SS (Boliden) -- hold from buy at Kepler Cheuvreux

      • GLE.FP (Societe Generale) -- market perform from outperform at Keefe, Bruyette & Woods

      • VEI.NO (Veidekke) -- hold from buy at ABG Sundal Collier

      • 2HRA.GR (H&R) -- reduce from hold at Kepler Cheuvreux

      • BBVA.SM (Banco Bilbao Vizcaya Argentaria) -- sector perform from outperform at RBC Capital Markets

      • ATCO.A.SS (Atlas Copco) -- to hold from buy at Pareto

      • SOLB.BB (Solvay) -- to hold from buy at ING

      • ESSITY.B.SS (Essity) -- to hold from buy at Pareto

  • Data

    • Nikkei +0.05% to 53358.71

    • Hang Seng +2.37% to 27769.71

    • Shanghai Composite +0.17% to 4146.80

    • S&P futures +30.5 vs prior close of 7008.5

    • €-$ (0.0041) or (0.34%) to 1.2001

    • $-¥ +0.41 or +0.27% to 152.60

    • €-¥ (0.16) or (0.09%) to 183.10

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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