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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.04%, DAX +0.46%, CAC40 +0.61%

Jan 30 ,2026

  • Synopsis

    • European indices are set to open slightly higher as Asian equities trade lower Friday. Momentum swinging to downside with US contracts weakening amid speculation Warsh will be chosen as next Fed chair

    • US equities were mixed in Thursday trading as stocks ended off worst levels. Breadth slightly positive and equal-weight S&P a bit of an outperformer to cap-weighted index. S&P 500 and Nasdaq still pacing for modest weekly gains.

    • Attention remains on earnings. Focus on US updates afterhours. AAPL reported record quarterly sales amid strong iPhone demand and Q2 revenue guidance surpassed expectations, but input costs a concern.

    • In central banks, ECB's Machado speech at 9:00CET at Forum on Saving Investments Union. ECB's Buch remarks at 19:00CET at the Dreier-Club Abend event. Economist partner event at 17:30CET title 'The World Ahead 2026', Athens Gala Dinner.

    • Earnings reported so far today:

      • Benelux: Warehouses de Pauw (WDP.BB), Signify (LIGHT.NA)

      • DACHs, ATOSS Software (AOF.GR), Swatch Group (UHR.SW)

      • Nordics: Hexagon (HEXA.B.SS), Lifco (LIFCO.B.SS), SKF (SKF.B.SS), Svenska Cellulosa (SCA.B.SS), Beijer Ref (BEIJ.B.SS), Holmen (HOLM.B.SS), Billerud (BILL.SS), Electrolux (ELUX.B.SS), JM (JM.SS), Arjo (ARJO.B.SS), Byggmax Group (BMAX.SS), Enea (ENEA.SS), Midsona (MSON.B.SS), Sparebanken Norge (SBNOR.NO), Scatec (SCATC.NO), Elisa (ELISA.FH)

      • Southern Europe: CaixaBank (CABK.SM)

      • UK: Airtel Africa (AAF.LN)

      • France: Maisons du Monde (MDM.FP)

    • Macro data reported today: France Dec Consumer Spending (0.6%) m/m vs consensus (0.4%) and prior (0.3%). France Q4 Preliminary GDP +1.1% y/y vs consensus +1.2% and prior +0.9%.

    • Economic data to follow today: Germany Q4 preliminary GDP, Jan unemployment rate, preliminary CPI, France Q4 preliminary GDP, PPI, Italy Q4 preliminary GDP, Dec unemployment rate, PPI, Spain Q4 preliminary GDP, Jan preliminary CPI, Eurozone Q4 preliminary GDP, Dec unemployment rate, Switzerland Jan leading indicator - KOF, economic sentiment index, UK Dec mortgage approvals, M4 money supply, Jan house price index - Nationwide, Netherlands Q4 preliminary GDP, Dec PPI, Finland Q4 preliminary GDP, Norway Dec retail sales, Sweden Dec retail sales, Denmark Dec unemployment rate, Austria Q4 preliminary GDP, Dec PPI, Portugal Q4 preliminary GDP, Jan preliminary CPI, Ireland Jan preliminary HICP

    On today's agenda Among central banks updates Macroeconomic releases due today include In corporate news

Politics/Macro/World News

  • Trump Administration Prepares to Back Warsh for Fed Chair (FT )

  • Trump warns Britain on China ties as Starmer hails progress in Beijing (Reuters )

Top company news

  • Earnings/updates

    • ADS.GR (Adidas) -- reports preliminary Q4 revenue €6.08B vs FactSet €6.20B [11 est, €6.03-6.38B]; launches share buyback for up to €1B

    • UHR.SW (Swatch Group) -- reports FY net income CHF25M vs FactSet CHF88.4M [12 est, CHF33.3-133M]

    • ELUX.B.SS (Electrolux) -- reports Q4 EPS SEK1.72 vs consensus SEK2.12

    • ETL.FP (Eutelsat Communications) -- Eutelsat Announces the End of the transaction to Dispose of Its Passive Ground Segment Infrastructure Assets. The non-completion of the transaction has no impact on Financial Objectives for FY 2025-26

    • FGR.FP (Eiffage) -- Eiffage's APRR reports Q4 consolidated revenue ex construction €763.9M vs year-ago €751.3M

    • ELIS.FP (Elis) -- reports FY revenue €4.80B vs FactSet €4.79B [14 est, €4.78-4.83B]

    • ATE.FP (Alten) -- reports FY revenue €4.10B vs FactSet €4.09B [8 est, €4.06-4.10B]

    • BILL.SS (Billerud) -- reports Q4 adjusted EPS SEK0.13 vs FactSet SEK0.83 [8 est, SEK0.21-1.81]

    • VETO.FP (Vetoquinol) -- reports preliminary Q4 revenue €141.5M vs year-ago €141.1M

    • SFL.IM (Safilo Group) -- reports preliminary Q4 revenue €225.0M vs FactSet €226.3M [3 est, €223-231.6M]

    • ALCGM.FP (Cegedim) -- reports Q4 revenue €173.0M vs FactSet €178.8M [1 est]

    • AVIO.IM (Avio) -- guides FY25 revenue €510-540M vs prior guidance €450-480M and FactSet €512.0M [5 est, €478.1-560M]

  • M&A

    • PINE.LN (Pinewood Technologies Group) -- confirms discussions with Apax Partners regarding possible cash offer of 500p/sh for entire issued share capital of Pinewood.AI by Apax

    • GLEN.LN (Glencore) -- Rio Tinto's UK investors support Glencore merger with representation expected to increase - The Australian

    • PINE.LN (Pinewood Technologies Group) -- attracts takeover interest -- Sky News' Mark Kleinman post on X

    • DESN.SW (Dottikon ES Holding) -- announces Büchi AG to acquire 15.6% of SYSTAG for an undisclosed sum

    • CBAV3.BZ (Companhia Brasileira de Alum+â-¡nio) -- Chinalco, Rio Tinto set to announce acquisition of controlling ownership of CBA - Bloomberg (11:54 ET)

    • CBAV3.BZ (Companhia Brasileira de Alum+â-¡nio) -- Aluminum Corp. of China, Rio Tinto to buy 68.6% stake in Brazil's CBA (CBAV3) for ~BRL4.69B via Brazil JV

    • BRKN.SW (Burkhalter Holding) -- Burkhalter Group acquires Elektro Gasser AG in Lalden; terms not disclosed

    • Repertoire Immune Medicines (private) announces strategic collaboration with Lilly to develop tolerizing therapies for multiple autoimmune diseases (pre-open 6:30ET)

  • Healthcare

    • MRNA (Moderna) -- announces strategic collaboration with Recordati to globally commercialize mRNA-3927

    • 1093.HK (CSPC Pharmaceutical Group) -- CSPC Pharmaceutical enters into strategic collaboration and license agreement with AstraZeneca regarding long-acting peptide medicines

    • AB.FP (AB Science) -- receives notice of allowance for US patent covering masitinib in the treatment of metastatic castrate resistant prostate cancer

    • CRNA.NO (Circio Holding) -- completes oversubscribed rights issue to raise NOK65M vs target NOK50M

  • Other

    • FR.FP (Valeo SE) -- Valeo and Kapsch TrafficCom (KTCG.AV) announce partnership to deliver next-generation tolling solution powered by V2X

    • ENX.FP (Euronext) -- completes €250M share repurchase program

    • SUBC.NO (Subsea 7) -- awarded a between $150-300M contract by OWP Gennaker for the Gennaker offshore wind farm in Germany

    • SUBC.NO (Subsea 7) -- awarded contract between $50M-$150M by Shell for Kaikias Waterflood project

    • FGR.FP (Eiffage) -- Eiffage's APRR reports Q4 revenue ex construction €763.9M vs year-ago €751.6M

    • SFSN.SW (SFS Group) -- receives SBTi validation for climate targets

    • CO.FP (Casino Guichard-Perrachon) -- Casino Group Communication announces judgement related to corruption and manipulation charges

Key rating changes

  • Upgrades

    • Jefferies upgrades AENA.SM, FRA.GR

    • ACSO.LN (accesso Technology Group) -- to buy from add at Peel Hunt

    • MTRS.SS (Munters Group) -- to buy from hold at DNB Carnegie

    • TTALO.FH (Terveystalo) -- to buy from hold at DNB Carnegie

    • WLN.FP (Worldline) -- to neutral from underperform at Oddo

  • Downgrades

    • PNDORA.DC (Pandora) -- to hold from buy at Sydbank (earlier, timing uncertain)

    • ANTO.LN (Antofagasta) -- to neutral from buy at UBS

  • Initiations

    • AV.LN (Aviva) -- buy at Peel Hunt

Data

  • Nikkei (0.02%) to 53364.87

  • Hang Seng (2.01%) to 27405.58

  • Shanghai Composite (0.82%) to 4123.71

  • S&P futures (44.3) vs prior close of 6992.8

  • €-$ (0.0046) or (0.38%) to 1.1926

  • $-¥ +0.86 or +0.56% to 153.96

  • €-¥ +0.32 or +0.17% to 183.59

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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