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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE flat, DAX (0.2%), CAC flat

Feb 26 ,2026

  • Synopsis

    • European equity markets set to open flat to lower following fresh record highs for Stoxx 600, FTSE 100 and French CAC in Wednesday's session.

    • Asia equities trading mixed Thursday. Strong opening gains on the Nikkei and Topix faded somewhat after touching intraday record high. More strong gains for the Kospi taking it to yet another record high. In the US, NVDA delivered a widely expected beat and raise. Flagged upside to $500B Blackwell and Rubin revenue pipeline (which Street was expecting). CEO Huang struck usual bullish tone, noting compute demand rising exponentially.

    • Another busy day for European earnings/updates with the likes of Allianz, Axa, Schneider Electric, Rolls-Royce Holdings, London Stock Exchange Group, Deutsche Telekom, Munich Re, Eni and Acciona among those reporting.

    • European macro data releases out today include Italy Feb business/consumer confidence, Eurozone Feb industrial/service sentiment, Jan M3 money supply, Belgium Feb CPI, Jan PPI, Finland Jan PPI

    • In central banks, ECB's Lagarde introductory statement at 9:30CET at EP Committee meeting (livestream) and Slovenia central bank's Dolenc speech at 10:00CET at event organised by the bank on stablecoins and their impact on financial stability. UK WEN annual networking event sees BOE's Lombardelli remarks/panellist at 10:20GMT, Benjamin panellist at 11:05, whilst Bundesbank's Köhler-Geib fireside chat at 12:35CET at Derivatives Forum 2026 (Wed-Thu). Also, Norges Bank releases at 10:00CET its expectations survey Q1 of 2026 and Russia central bank releases minutes of last MPC meeting.

    • Following yesterday's hearing, EP Committee on Economic and Monetary Affairs due to vote on appointment of Vujčić as ECB VP.

    • In politics, in the UK, Gorton and Denton by-election.

    • Chancellor Merz in Hangzhou, accompanied by a business delegation, with visits to Mercedes-Benz Group, Unitree and Siemens Energy facilities scheduled. In Germany, Bundestag sees the first reading of several draft bills from the coalition government, including measures for the accelerated approval of infrastructure projects, the expanded range of services offered by pharmacies, and the reform of private healthcare. EU's von der Leyen meets with Romania's PM Bolojan, and delivers a speech at the high-level event on the Eastern Border Regions Strategy. Also, EU's Albuquerque speech at the Annual Conf. of DIGITALEUROPE's - "Master of Digital 2026" and EU's Roswall presents the EU Bioeconomy Strategy to the Competitiveness Council. The Economist hosts 2nd annual Antitrust Summit, speakers/fireside chats/panellists include CEO of UK's CMA at 8:55GMT, Chairman, U.S. Federal Trade Commission at 9:45, Deputy director-general, Directorate-General for Competition, European Commission at 10:00, Commissioner, Italian Antitrust Authority 11:45, Presidents of Germany's and France's Competition Authority at 12:20. Bruegel event at 13:00CET title 'From savings to sustainability: long-term investors and Europe's green transition'. Second an final day of Chatham House Security & Defence Conf

  • Politics/Macro/World News

    • UK government debt sales set to fall for first time in four years -- FT

    • What a Gorton byelection win would mean for Reform, Greens and Labour -- Guardian

    • French Premier Survives Censure Votes Over 2035 Energy Roadmap -- Bloomberg

    • UK consumer confidence improved for a third straight month, hitting its highest level since last June -- BRC-Opinium

    • USTR Greer says new tariff framework to largely stick to existing agreements:

  • Top company news

    • Earnings/updates

      • Benelux

        • UCB.BB (UCB) -- reports FY Core EPS €9.99 vs StreetAccount €8.33

        • AMG.NA (AMG Critical Materials) -- reports Q4 EPS $0.16 ex-items vs year-ago $0.22

      • Southern Europe

        • ENI.IM (Eni) -- reports Q4 adjusted net income €1.20B vs consensus €960M

        • PRY.IM (Prysmian) -- reports Q4 net income €248M vs FactSet €281.5M [7 est, €214-368.6M]

        • FER.SM (Ferrovial) -- reports Q4 revenue €2.72B vs FactSet €2.53B [6 est, €2.40-2.69B]

        • ACS.SM (ACS SA) -- reports FY25 Ordinary NPAT of €857M, +25% vs year-ago €684M

        • PIRC.IM (Pirelli & C.) -- reports FY net income €530.7M vs consensus €510M

        • IDR.SM (Indra Sistemas) -- reports Q4 net income €145M vs FactSet €93.2M [6 est, €34-120M]

        • BCP.PL (Banco Comercial Portugues) -- reports FY net income attributable €1.02B vs FactSet €1.00B [17 est, €962-1.06B]

        • MEL.SM (Melia Hotels International) -- reports FY net income attributable €170.1M vs FactSet €154.0M [13 est, €136.1-169.2M]

      • DACH

        • ALV.GR (Allianz) -- reports Q4 core net income €2.73B vs consensus €2.68B; hikes divi by 11% and guides FY26

        • 1COV.GR (Covestro) -- reports Q4 net income (€378M) vs year-ago (€192M)

        • KGX.GR (Kion Group) -- reports Q4 EPS €0.53 vs consensus €0.53; guides 2026

        • CLN.SW (Clariant) -- reports Q4 adjusted EBITDA CHF176M vs consensus CHF159M

        • GXI.GR (Gerresheimer) -- discloses the BaFin has expanded their audit of FY24 financial statements and initiated review of 1H25 statements

        • SUN.SW (Sulzer) -- reports FY net income CHF294.7M vs StreetAccount CHF294.6M

        • HAG.GR (HENSOLDT) -- reports preliminary FY adjusted EBITDA €452M vs FactSet €460.4M [14 est, €418-512M]

        • FNTN.GR (Freenet) -- reports FY EBITDA €524.2M vs FactSet €534.4M [10 est, €524.9-544.5M]

      • France

        • CS.FP (AXA) -- reports FY net income €8.37B ex-items vs StreetAccount €8.36B; on track to deliver the main financial targets of it's "Unlock the Future" plan

        • SU.FP (Schneider Electric) -- reports FY adj EPS €8.59 vs consensus €8.59; hikes divi by 8% and guides FY26

        • VIE.FP (Veolia Environnement) -- reports FY current net income €1.64B vs consensus €1.63B (

        • EN.FP (Bouygues) -- reports FY net income €1.14B vs consensus €1.05B; hikes divi by 5% and guides FY26

        • AKE.FP (Arkema) -- reports Q4 adj EPS €0.43 vs consensus €0.72

        • ENGI.FP (ENGIE) -- reports FY net recurring income €4.90B vs FactSet €4.85B [18 est, €4.66-5.11B]

        • TE.FP (Technip Energies) -- reports FY EPS €2.04 vs FactSet €2.32 [16 est, €2.13-2.59]; announces new €150M share buyback

        • WLN.FP (Worldline) -- reports FY EPS €0.63 vs consensus €0.81

        • GET.FP (Getlink) -- reports FY net income €320M vs FactSet €283.6M [12 est, €239.6-326M]; guides 2026 Consolidated EBITDA between €820-860M vs FactSet €843.89M (

        • FGR.FP (Eiffage) -- Follow-up: Eiffage reports FY results; to propose €4.80 per share dividend

        • FGR.FP (Eiffage) -- reports FY net income €1.02B vs FactSet €987.2M [14 est, €951.0-1.01B]

        • FNAC.FP (Fnac Darty) -- reports Q4 net income €28.0M; confirms beyond everyday 2030 targets

        • NXI.FP (Nexity) -- reports FY net income (€62M) vs FactSet (€50.7M) [6 est, (€68.6)-(29.9M)]

      • Sweden

        • BETCO.SS (Better Collective) -- reports Q4 EPS €0.23 vs FactSet €0.26 [3 est, €0.22-0.30]

      • Also reporting today

        • UK: Rolls-Royce Holdings (RR.LN), London Stock Exchange Group (LSEG.LN), Howden Joinery Group (HWDN.LN), Hikma Pharmaceuticals (HIK.LN), Man Group (EMG.LN), Drax Group (DRX.LN), WPP Group (WPP.LN), SEPLAT Energy (SEPL.LN), Genus (GNS.LN), Greencoat UK Wind (UKW.LN), Derwent London (DLN.LN), Ocado Group (OCDO.LN), Pantheon International (PIN.LN), Burford Capital (BUR.LN), CVS Group (CVSG.LN), Jupiter Fund Management (JUP.LN), PPHE Hotel Group (PPH.LN), Vanquis Banking Group (VANQ.LN), Wilmington (WIL.LN), Mobico Group (MCG.LN), Macfarlane Group (MACF.LN), Avation (AVAP.LN)

        • Sweden: Egetis Therapeutics (EGTX.SS), BioInvent International (BINV.SS), Done.ai Group (DONE.SS), LumenRadio (LUMEN.SS), Sensys Gatso Group (SGG.SS), Mentice (MNTC.SS), Saniona (SANION.SS), AlzeCure Pharma (ALZCUR.SS)

        • Norway: Subsea 7 (SUBC.NO), Hafnia (HAFNI.NO), Endur (ENDUR.NO), Måsøval (MAS.NO), Cambi (CAMBI.NO), Zalaris (ZAL.NO), Thor Medical (TRMED.NO), Prosafe (PRS.NO), Norse Atlantic (NORSE.NO), Omda (OMDA.NO), Norcod (NCOD.NO), Awilco LNG (ALNG.NO), IDEX Biometrics (IDEX.NO)

        • Denmark: Royal Unibrew (RBREW.DC), Brødrene A & O Johansen (AOJ.B.DC), GrønlandsBANKEN (GRLA.DC), TCM Group (TCM.DC)

        • Finland: Citycon (CTY1S.FH), Qt Group (QTCOM.FH), Keskisuomalainen (KSL.FH), Nanoform Finland (NANOFH.FH)

        • Benelux: CTP (CTPNV.NA), SBM Offshore (SBMO.NA), Aalberts (AALB.NA), Van Lanschot Kempen (VLK.NA), Corbion (CRBN.NA), Syensqo (SYENS.BB), DEME Group (DEME.BB), CMB.TECH (CMBT.BB), Shurgard Self Storage (SHUR.BB),

        • France: Compagnie de Saint-Gobain (SGO.FP), Veolia Environnement (VIE.FP), Wendel (MF.FP), Teleperformance (TEP.FP), Lisi (FII.FP), Sopra Steria Group (SOP.FP), VusionGroup (VU.FP), Clariane (CLARI.FP), Planisware (PLNW.FP), Viridien (VIRI.FP), SMCP (SMCP.FP), Bonduelle (BON.FP), Casino Guichard-Perrachon (CO.FP)

        • DACH: Deutsche Telekom (DTE.GR), Munich Re (MUV2.GR), Puma (PUM.GR), Scout24 (G24.GR), flatexDEGIRO (FTK.GR), Aixtron (AIXA.GR), Befesa (BFSA.GR), Adtran Networks (ADV.GR), Hamborner REIT (HABA.GR), Idorsia (IDIA.SW), Zehnder Group (ZEHN.SW), Bystronic (BYS.SW), Rieter Holding (RIEN.SW), medmix (MEDX.SW), Feintool International Holding (FTON.SW), Calida Holding (CALN.SW), Kudelski (KUD.SW)

        • Portugal: EDP-Energias de Portugal (EDP.PL)

        • Spain: Acciona (ANA.SM), Grifols (GRF.SM), Fluidra (FDR.SM), Viscofan (VIS.SM), Elecnor (ENO.SM), Solaria Energia (SLR.SM), Distribuidora Internacional De Alimentacion (DIA.SM), Gestamp Automoción (GEST.SM), FAES Farma (FAE.SM), CIE Automotive (CIE.SM), Inmobiliaria Colonial SOCIMI (COL.SM), eDreams ODIGEO (EDR.SM), Vocento (VOC.SM)

        • Greece: Hellenic Telecommunications Organization (HTO.GA), HELLENiQ ENERGY Holdings (ELPE.GA)

        • Italy: Juventus Football Club (JUVE.IM), IGD SIIIQ (IGD.IM), doValue (DOV.IM)

      • Trading Update:

        • France: GENFIT (GNFT.FP), Bonduelle (BON.FP), Casino Guichard-Perrachon (CO.FP)

        • UK: Tate & Lyle (TATE.LN)

      • CMD/Events: Poste Italiane (PST.IM), Gjensidige Forsikring (GJF.NO), Getlink (GET.FP), KBC Group (KBC.BB)

    • M&A

      • ENGI.FP (ENGIE) -- announces the acquisition of UK Power Networks for an equity value of £10.5B

      • SHEL.LN (Shell Plc) -- Shell holding talks with companies over minority stake in North West Shelf project - Bloomberg

      • HSBA.LN (HSBC Holdings) -- HSBC launches sale process for Singapore life insurance product manufacturing business; deal could be valued at $1B+ - Reuters

      • SGO.FP (Compagnie de Saint-Gobain) -- reached agreement on two acquisitions in construction chemicals; terms not disclosed

      • IDR.SM (Indra Sistemas) -- to proceed with the formal closure of the process of analyzing various divestment alternatives in Minsait Payments

      • AMG.NA (AMG Critical Materials) -- announces acquisition of AURA Technologie for €10M

      • +BRAINLAB.GR (Brainlab AG) -- Brainlab and Precision NeuroMed announce strategic partnership to standardize and scale precision drug delivery to the brain

      • KKR working on bid for Australian smart metre business Plus Es - Australian Financial Review

    • Healthcare

      • PHARM.NA (Pharming Group) -- Transcript Intelligence: Pharming Group at Oppenheimer Healthcare Life Sciences Conference

      • VICO.SS (Vicore Pharma Holding) -- Transcript Intelligence: Vicore Pharma Holding at Oppenheimer Healthcare Life Sciences Conference

    • Other

      • LOGN.SW (Logitech International) -- Transcript Intelligence: Logitech International at Bernstein Tech Sector TMT Conference

      • SAN.SM (Banco Santander) -- Transcript Intelligence: Banco Santander Investor Day

      • ML.FP (Cie Generale des Etablissements Michelin SA) -- Michelin publishes global tire market data for Jan

      • ALV.GR (Allianz) -- resolves on new share buy-back program with volume of up to €2.5B

      • ABF.LN (Associated British Foods) -- reportedly close to naming Eoin Tonge as permanent CEO of Primark -- Sky News

      • ADP.FP (Aeroport de Paris) -- VINCI successfully issue of €500M of bonds exchangeable for ordinary shares of Groupe ADP due 2031

  • Key rating changes

    • Upgrades

      • CAST.SS (Castellum AB) -- Castellum AB assumed buy at Pareto; previous rating was hold

    • Downgrades

      • OERL.SW (OC Oerlikon Corp.) -- to sector perform from outperform at RBC Capital Markets

      • IBE.SM (Iberdrola) -- to neutral from outperform at BNP Paribas Exane

  • Data

    • Nikkei +0.29% to 58753.39

    • Hang Seng (0.94%) to 26514.52

    • Shanghai Composite (0.07%) to 4144.17

    • S&P futures (7.8) vs prior close of 6959.8

    • €-$ +0.0005 or +0.04% to 1.1817

    • $-¥ (0.34) or (0.22%) to 156.03

    • €-¥ (0.27) or (0.15%) to 184.39

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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