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StreetAccount Summary - EU Market Recap: FTSE 100 (0.04%) to 10680.59, DAX (0.02%) to 24986.25, CAC40 +0.26% to 8519.21, STOXX 600 +0.23% to 629.14

Feb 24 ,2026

  • Synopsis:

    • European equity markets ended mixed Tuesday, off earlier weaker levels. Regional outperformers included Swiss SMI +0.9% and OMX Stockholm +0.8%, while notable decliners were Austria ATX (1.6%) and OMX Copenhagen (1.4%). Crude lower ahead of US-Iran nuclear talks due later this week; WTI Crude (0.32%) to $66.10. Precious metals were mixed; Gold (1.28%) to $5158.80. Copper higher as China returned from LNY holiday. Bitcoin below level on day President Trump was re-elected.

    • US equities were higher Tuesday. Software bounce (though off best levels) seemingly the big story with some semblance of reprieve surrounding Anthropic enterprise agent event, where takeaways have focused on partnerships. Also plenty of pushback (though not new) against some of the more dire industry and macro takeaways from the Citrini report that acted as a big overhang on risk sentiment on Monday. However, stabilization still seen as precarious and not driving a broader risk-on move. Semis another bright spot on AMD compute deal with META and expectations for another strong Q and guidance out of NVDA tomorrow after the close. In the US, ADP weekly private payrolls of 12.75K per week a fourth-straight increase, highest since Nov. December FHFA home price index was up 0.1% m/m, while Case-Shiller 20-city index rose 0.5%. Conference Board consumer confidence and wholesale inventories coming later this morning. A bit of Fedspeak today. Chicago's Goolsbee said inflation progress has stalled and said it is not obvious rate policy is even restrictive. Atlanta's Bostic cautioned Fed may not be able to offset structural pressures on employment via interest rates. Waller, Collins, Cook spoke on technology. In addition, President Trump to give the SOTU address this evening. Trump expected to talk up the economy and highlight new affordability measures.

    • In Europe, EU postponed ratification of trade agreement with US, citing insufficient clarity from US administration on intentions - a delay that leaves EU exports subject to 15% tariffs for now. Comes as Trump warned countries stepping back from trade deals risk worse terms. In geopolitics, today marks four years since Russia's invasion of Ukraine, with conflict showing no signs of near-term resolution. Slovakia's decision to halt emergency electricity supplies to Ukraine - pending resolution of disputed Druzhba pipeline - adds further layer of European energy uncertainty. On the macro front, France manufacturing confidence missed expectations. BoE's Bailey said March rate cut is 'genuinely open question'.

    • European sectors closed higher across the board, led by Autos & Parts (ACEA data, Forvia (FRVIA.FP) results and strategic roadmap) and Chemicals (Croda (CRDA.LN) and Solvay (SOLB.BB) up on results) while Banks clearly bucked the trend (Standard Chartered (STAN.LN) lower on results/guidance). In healthcare space, Fresenius Medical Care (FME.GR) Q4 beat but shares fell on soft 2026 revenue guidance and cautious medium-term outlook. Novo Nordisk (NOVO.B.DC) confirmed significant reduction in US list price for Wegovy, Ozempic, and Rybelsus (semaglutide medicines)

    • Looking ahead to tomorrow's session, another busy day for earnings with the likes of Diageo (DGE.LN), E.ON (EOAN.GR), Bayer (BAYN.GR), Heidelberg Materials (HEI.GR), Iberdrola (IBE.SM), Bureau Veritas (BVI.FP) and Haleon (HLN.FP) reporting.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers

        • Autos & Parts +1.92%, Basic Resources +1.47%, Chemicals +1.41%, Utilities +1.34%, Retail +1.22%, Food & Beverage +1.20%, Travel & Leisure +0.76%, Technology +0.66%, Construct & Mtls +0.63%, Oil & Gas +0.49%, Real Estate +0.25%

      • Underperformers

        • Banks (1.29%), Media (0.37%), Financial Svcs (0.25%), Insurance +0.09%, Telecom +0.18%, Health Care +0.19%, Ind Goods & Svcs +0.21%, Persnl & HHold Goods +0.22%

    • Macro:

      • Autos

        • European Automobile Manufacturers' Association (ACEA) January new car registrations for EU + EFTA + UK (3.5%) y/y

      • Geopolitics

        • Hungary, Slovakia spar with Ukraine over Druzhba pipeline -- DW

      • UK

        • Bank of England's Bailey says March rate cut is 'genuinely open question' -- Reuters

        • Reform UK plans to use £500bn assets of council pensions to invest in British businesses -- FT

      • Norway

        • Norway Central Bank Seen Delaying Next Rate Cut to Third Quarter -- Bloomberg

      • Banks

        • ECB Touts Lighter Burden on Banks in Planned Underwriting Review -- Bloomberg

  • Company news:

    • Notable Gainers

      • +22.6% ALCOX.FP (Nicox €0.51, +0.09) -- study results

      • +17.3% PARRO.FP (Parrot €8.00, +1.18) -- Finnish defence forces to procure Parrot ANAFI UKR micro-UAV systems

      • +16.7% OERL.SW (OC Oerlikon Corp. CHF4.44, +0.63) -- FY earnings

      • +10.1% CTEC.LN (ConvaTec Group £2.50, +0.23) -- FY earnings

      • +9.6% ELG.GR (Elmos Semiconductor €139.80, +12.20) -- FY earnings

      • +8.7% F3C.GR (SFC Energy €13.98, +1.12) -- prelim FY earnings

      • +8.1% CRDA.LN (Croda International £32.28, +2.43) -- FY earnings

      • +8.0% MPCC.NO (MPC Container Ships NOK21.89, +1.63) -- Q4 earnings

      • +7.0% ELE.SM (Endesa €34.24, +2.23) -- CMD; FY earnings

      • +6.6% TENG.LN (Ten Lifestyle Group £0.73, +0.04) -- contract

      • +6.0% ILKKA2.FH (Ilkka Oyj €4.26, +0.24) -- Inderes upgrade

      • +6.0% AUSS.NO (Austevoll Seafood NOK99.00, +5.60) -- Q4 earnings

      • +5.1% SOLB.BB (Solvay €28.24, +1.38) -- Q4 earnings; optimizes soda ash capacity to strengthen competitiveness

      • +5.1% LSG.NO (Lerøy Seafood Group NOK50.50, +2.46) -- Q4 earnings

      • +4.5% EDEN.FP (Edenred €19.02, +0.82) -- FY earnings

      • +4.4% FRVIA.FP (Forvia €13.29, +0.56) -- CMD; FY earnings; updates on planned divestiture of Interiors Business Group; advanced negotiations underway with several parties

      • +4.4% GLPG.NA (Galapagos €29.66, +1.26) -- FY earnings

      • +4.1% DNORD.DC (D/S Norden DKK283.00, +11.20)

      • +3.7% BONEX.SS (BONESUPPORT HOLDING SEK187.40, +6.60) -- Q4 earnings

      • +3.5% CHG.LN (Chemring Group £5.28, +0.18) -- initiated buy at Peel Hunt

      • +3.4% ASHM.LN (Ashmore Group £2.47, +0.08) -- Jefferies upgrade

      • +3.0% ENH.NO (SED Energy Holdings NOK9.68, +0.28) -- Q4 earnings

      • +2.0% RNO.FP (Renault €32.65, +0.64) -- ACEA January numbers

      • +1.9% STLAM.IM (Stellantis €6.60, +0.12) -- ACEA January numbers

      • +1.5% CGEO.LN (Georgia Capital £34.25, +0.50) -- FY earnings

      • +1.2% PRS.SM (Promotora de Informaciones €0.35, -0.00) -- updates on the proposed restructuring operation

      • +0.2% LIGHT.NA (Signify €20.32, +0.04) -- appoints new Chair

    • Notable Decliners

      • -13.0% BBN.SW (Bellevue Group CHF9.44, -1.41) -- FY earnings

      • -12.9% IMMNOV.SS (Immunovia SEK0.17, -0.03) -- Q4 earnings

      • -12.8% UTG.LN (UNITE Group £5.04, -0.74) -- agrees sale of St Pancras Way to USAF for £186M; FY earnings

      • -12.4% OXB.LN (OXB £6.78, -0.96) -- FY trading update

      • -7.7% MCB.LN (McBride £1.54, -0.13) -- H1 eanrings

      • -7.3% WIE.AV (Wienerberger €28.30, -2.24) -- to acquire Italcer Group; confirms FY earnings

      • -7.2% FME.GR (Fresenius Medical Care €38.42, -2.97) -- Q4 earnings

      • -6.3% GALE.SW (Galenica CHF95.40, -6.40) -- announces Bichsel plans to discontinue its production division by the end of 2026; UBS downgrade

      • -6.3% MTX.GR (MTU Aero Engines €372.50, -25.00) -- Q4 earnings

      • -4.1% PAAL.B.DC (Per Aarsleff Holding DKK834.00, -36.00) -- Q1 eanrings

      • -3.5% DOKA0.SW (dormakaba Holding CHF58.00, -2.10) -- H1 earnings; acquires a stake in SwiftConnect Inc

      • -3.3% MAB1.LN (Mortgage Advice Bureau £6.48, -0.22)

      • -3.1% NOVO.B.DC (Novo Nordisk DKK243.65, -7.75) --

        • reportedly to lower US list prices for Ozempic, Wegovy by up to 50%, to take effect January 2027 - media report

        • JPMorgan, Kepler Cheuvreux and Nordea downgrades; study update

      • -2.7% RTO.LN (Rentokil Initial £4.47, -0.12) -- Deutsche Numis downgrade

      • -2.6% GXI.GR (Gerresheimer €18.64, -0.50) -- UBS downgrade

      • -2.2% NEX.FP (Nexans €120.20, -2.70) -- Nexans holder Invexans (Quiñenco/Luksic Group) reportedly plans to reduce stake by ~2.2M shares via bookbuilding offering - Bloomberg

  • EU companies reporting tomorrow:

    • Earnings:

      • Austria: EVN (EVN.AV)

      • Belgium: Ageas (AGS.BB), Deceuninck (DECB.BB), Cie d'Entreprises CFE (CFEB.BB)

      • Denmark: Novonesis (NSIS.B.DC), Sydbank (SYDB.DC), NKT (NKT.DC), North Media (NORTHM.DC), Møns Bank (MNBA.DC)

      • Finland: Oriola (ORIOLA.FH), Gofore (GOFORE.FH), Tecnotree (TEM1V.FH), Kamux (KAMUX.FH)

      • France: Eiffage (FGR.FP), Bureau Veritas (BVI.FP), SEB (SK.FP), OPmobility (OPM.FP), Interparfums (ITP.FP), Ipsos (IPS.FP), Fnac Darty (FNAC.FP), Nexity (NXI.FP), Worldline (WLN.FP)

      • Germany: E.ON (EOAN.GR), Bayer (BAYN.GR), Heidelberg Materials (HEI.GR), Fresenius (FRE.GR), Nordex (NDX1.GR), Auto1 Group (AG1.GR), Freenet (FNTN.GR), BRAIN Biotech (BNN.GR)

      • Italy: Leonardo (LDO.IM), Poste Italiane (PST.IM)

      • Netherlands: Wolters Kluwer (WKL.NA), Royal Vopak (VPK.NA), AMG Critical Materials (AMG.NA)

      • Norway: Odfjell Drilling (ODL.NO), Höegh Autoliners (HAUTO.NO), Grieg Seafood (GSF.NO), Panoro Energy (PEN.NO), Integrated Wind Solutions (IWS.NO), Nykode Therapeutics (NYKD.NO), Saga Pure (SAGA.NO), Vow (VOW.NO)

      • Portugal: Banco Comercial Portugues (BCP.PL)

      • Spain: Iberdrola (IBE.SM), Ferrovial (FER.SM), Aena (AENA.SM), ACS (ACS.SM), Indra Sistemas (IDR.SM), Laboratorios Farmaceuticos Rovi (ROVI.SM), Vidrala (VID.SM), Neinor Homes (HOME.SM)

      • Sweden: Better Collective (BETCO.SS), Samhällsbyggnadsbolaget i Norden (SBB.B.SS), Greater Than (GREAT.SS), IRLAB Therapeutics (IRLAB.A.SS)

      • Switzerland: Adecco Group (ADEN.SW), Sandoz Group (SDZ.SW), Georg Fischer (GF.SW)

      • UK: Diageo (DGE.LN), Haleon (HLN.LN), St. James's Place (STJ.LN), Hiscox (HSX.LN), ConvaTec Group (CTEC.LN), Lion Finance Group (BGEO.LN), Shaftesbury Capital (SHC.LN), Morgan Sindall Group (MGNS.LN), Hammerson (HMSO.LN), Aston Martin Lagonda Global Holdings (AML.LN), International Personal Finance (IPF.LN), Avingtrans (AVG.LN), AFC Energy (AFC.LN)

      • Other: Magyar Telekom Telecommunications (MTEL.HB), Glanbia (GL9.ID)

    • Trading Update:

      • France: SEB (SK.FP), Bilendi (ALBLD.FP)

      • Southern Europe: Pirelli & C. (PIRC.IM)

    • CMD/Events: Banco Santander (SAN.SM), Temenos (TEMN.SW)

  • Data:

    • Economics:

      • France Feb Business Survey 102 vs consensus 104 and prior 105

      • Finland Jan Unemployment Rate 10.3% vs consensus 10.0% and prior 9.8%

    • Markets:

      • WTI Crude (Apr 26): ($0.30) or (0.45%) to $66.01

      • €-$ +0.0004 or +0.03% to 1.1790

      • £-$ +0.0037 or +0.27% to 1.3531

      • €-£ (0.0022) to 0.8712

      • S&P 500 +0.49%

      • Performance year-to-date

        • FTSE 100: +7.54%

        • DAX: +2.02%

        • CAC: +4.54%

        • MIB: +3.80%

        • Stoxx 600: +6.24%

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