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StreetAccount Summary - EU Market Recap: FTSE 100 (1.45%) to 10413.94, DAX (1.61%) to 23815.75, CAC40 (1.49%) to 8045.80, STOXX 600 (1.29%) to 604.83

Mar 05 ,2026

  • Synopsis:

    • European equity markets closed lower and at the lowest levels of the session. Media, technology and energy were the best performing sectors. Basic resources, industrials and travel & leisure lagged. Follows positive close on Wednesday but Stoxx Europe 600 still down over 3% this week.

    • Headlines from Iran continue to contribute to market volatility. Hopes remain for some form of near-term offramp that can dampen inflation/growth headwinds. Recent reports over Iran showing willingness to negotiate met with skepticism and Iran had denied. Iranian attacks on Middle East energy facilities and Hormuz traffic slowdown continue to fan energy supply concerns.

    • European money policy implications in the spotlight. February ECB minutes said near-term inflation likely to fall further below target, but was cautious due to energy price volatility. Vice President de Guindos said outlook for Europe will be shaped by Iran war and have to go for different approach. Member of German council of economic exports Felbermayr warns if Iran war does not end quickly, ECB will have to act. Think tank NIESR said BoE could hike rates back above 4% if Middle East conflict causes another inflation shock. Meanwhile, BoE monthly DMP survey saw slight easing in price expectations. Elsewhere, BoE planning to scenario plan an AI shock on jobs. UK Chancellor Reeves backtracked on plans to scrap tax on North Sea oil and gas sector after energy price spike.

    • On data front, Eurozone retail sales weaker-than-forecast in January, but annual measure beat due to base effect. French industrial production met expectations, Spanish missed. Swedish inflation update in line with forecast. Eurozone construction PMI improved, yet UK weakened. New UK car sales hit 20-year high in February.

    • On a busy earnings agenda, from the UK, Reckitt Benckiser (RKT.LN), Aviva (AV.LN), Rentokil Initial (RTO.LN), Admiral Group (ADM.LN), Harbour Energy (HBR.LN), Entain (ENT.LN), ITV (ITV.LN), PageGroup (PAGE.LN) and Taylor Wimpey (TW.LN) released results. In the DACHs region, DHL Group (DHL.GR), Galderma Group (GALD.SW), Renk Group (R3NK.GR) and Andritz (ANDR.AV) reported. Elsewhere, Elekta (EKTA.B.SS), Davide Campari-Milano (CPR.IM) and Amplifon (AMP.IM) released results whilst Nexi (NEXI.IM) also announced 2026 guidance and 2026-28 targets in connection with its CMD.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Media +1.67%, Technology (0.00%), Oil & Gas (0.01%), Retail (0.21%), Food & Beverage (0.22%), Utilities (0.49%), Chemicals (0.54%), Telecom (0.97%), Insurance (0.97%), Financial Svcs (0.99%), Real Estate (1.21%)

      • Underperformers:

        • Basic Resources (3.77%), Ind Goods & Svcs (2.35%), Travel & Leisure (1.84%), Construct & Mtls (1.75%), Banks (1.74%), Autos & Parts (1.71%), Health Care (1.52%), Persnl & HHold Goods (1.33%)

    • Macro:

      • Think tank NIESR warned the BoE could be forced to hike key rate back above 4% if the Middle East conflict causes energy prices to remain elevated for a prolonged period

      • Riksbank minutes from last MPC meeting - release

      • Spain denies US claims of military shift after Trump's base threats over Iran war - Politico

      • EU seeks non-EU funds for Ukraine as €30B gap persists and Hungary blocks €90B package - Bloomberg

      • BOE to stress-test AI-driven job losses and economic shock scenarios - Bloomberg

      • BOE monthly DMP survey shows elevated price expectations - release

    • Company news:

      • Notable Gainers

        • +16.1% BMY.LN (Bloomsbury Publishing £5.52, +0.77) -- trading update

        • +13.0% GFT.GR (GFT Technologies €18.06, +2.08) -- earnings

        • +12.0% WIHN.SW (WISeKey International Holding CHF12.32, +1.32) -- prelim sales

        • +10.7% RTO.LN (Rentokil Initial £4.71, +0.46) -- earnings; management change

        • +10.0% CPR.IM (Davide Campari-Milano €6.54, +0.59) -- earnings

        • +8.8% COA.LN (Coats Group £0.95, +0.08) -- earnings

        • +7.6% ADM.LN (Admiral Group £30.78, +2.18) -- earnings

        • +7.0% GALD.SW (Galderma Group CHF154.90, +10.10) -- earnings

        • +6.2% DATA.LN (GlobalData £0.79, +0.05) -- shares start trading on LSE Main Market

        • +4.3% GRP.GR (Greencoat Renewables €0.68, +0.03) -- earnings; buyback

        • +4.0% FOXT.LN (Foxtons Group £0.48, +0.02) -- earnings

        • +3.7% SNR.LN (Senior £3.11, +0.11) -- prelim, non-binding all-cash offer from Arcline Investment Management

        • +3.1% STMPA.FP (STMicroelectronics €28.60, +0.85) -- STMicroelectronics at Morgan Stanley Technology, Media & Telecom Conference 4-Mar

        • +3.1% ENQ.LN (EnQuest £0.18, +0.01) -- JPMorgan upgrade

        • +2.7% ELI.BB (Elia Group SA/NV €131.50, +3.50) -- earnings

        • +1.7% PYRUM.NO (Pyrum Innovations NOK295.00, +5.00) -- ISCC EU certification for thermolysis oil

        • +1.7% JEN.GR (Jenoptik €28.08, +0.46) -- MDAX addition

        • +1.5% GFTU.LN (Grafton Group £9.38, +0.14) -- earnings

      • Notable Decliners

        • -16.6% NEXI.IM (Nexi SpA €2.82, -0.56) -- earnings; CMD

        • -15.8% CICN.SW (Cicor Technologies CHF133.50, -25.00) -- earnings

        • -15.0% PAGE.LN (PageGroup £1.52, -0.27) -- earnings

        • -13.2% AMP.IM (Amplifon €10.52, -1.60) -- earnings

        • -11.4% R3NK.GR (Renk Group €52.00, -6.70) -- earnings

        • -11.3% WIZZ.LN (Wizz Air Holdings £9.78, -1.25) -- profit warning

        • -9.0% INTEG.B.SS (Integrum SEK7.37, -0.73) -- earnings

        • -7.1% DIS.IM (D'Amico International Shipping €7.31, -0.56) -- Kepler Cheuvreux downgrade

        • -6.9% HNSA.SS (Hansa Biopharma SEK30.70, -2.28) -- FDA action date

        • -6.7% SYSR.SS (Systemair SEK75.00, -5.40) -- earnings

        • -6.3% CAPSL.NO (Capsol Technologies NOK4.50, -0.30) -- earnings; partnership

        • -6.3% TWEKA.NA (TKH Group €35.84, -2.40) -- earnings

        • -6.3% SCHO.DC (Schouw & Co DKK621.00, -42.00) -- earnings

        • -6.0% STAF.LN (Staffline Group £0.45, -0.03) -- completes buyback

        • -5.8% RKT.LN (Reckitt Benckiser £57.00, -3.50) -- earnings

        • -5.6% ANDR.AV (Andritz €67.05, -3.95) -- earnings

        • -5.0% EZJ.LN (EasyJet £4.12, -0.22) -- FTSE100 deletion

        • -4.8% FCH.LN (Funding Circle Holdings £1.39, -0.07) -- earnings

        • -4.8% HAFNI.NO (Hafnia NOK71.26, -3.60) -- ex-div

        • -4.8% IBST.LN (Ibstock £1.14, -0.06) -- earnings

        • -4.6% DHL.GR (DHL Group €45.89, -2.23) -- earnings

        • -4.4% RM.LN (RM Plc £0.98, -0.05) -- earnings

        • -4.2% BMPS.IM (Banca Monte dei Paschi di Siena €7.37, -0.32) -- finalizes candidate list for 15-Apr AGM

        • -3.9% ACOMO.NA (ACOMO NV €25.70, -1.05) -- earnings

        • -3.5% SAX.GR (Stroeer SE & Co. KGaA €32.95, -1.20) -- prelim earnings

        • -3.3% AV.LN (Aviva £6.46, -0.22) -- earnings; buyback

        • -3.3% HEALTH.FH (Nightingale Health €1.45, -0.05) -- earnings

        • -3.2% DOM.LN (Domino's Pizza Group £1.85, -0.06) -- Deutsche Numis downgrade

        • -3.1% HTG.LN (Hunting £4.95, -0.16) -- earnings; cost reduction plans update

        • -2.9% LRE.LN (Lancashire Holdings £6.31, -0.19) -- earnings

        • -2.4% CABP.LN (CAB Payments Holdings £0.86, -0.02) -- earnings; response to Helios offer

        • -1.7% RSGN.SW (R&S Group Holding CHF22.70, -0.40) -- earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Solvac (SOLV.BB)

        • DACHs: Deutsche Lufthansa (LHA.GR), SFS Group (SFSN.SW), COMET Holding (COTN.SW), mobilezone holding (MOZN.SW), Coltene Holding (CLTN.SW), Mikron Holding (MIKN.SW), BVZ Holding (BVZN.SW)

        • France: Atos (ATO.FP), SPIE (SPIE.FP)

        • Nordics: Sectra (SECT.B.SS), Tokmanni Group (TOKMAN.FH)

        • Southern Europe: Sonaecom (SNC.PL)

        • UK: IMI (IMI.LN)

        • Other: FBD Holdings (EG7.ID)

      • Traffic: Icelandair Group (ICEAIR.IR)

      • CMD/Events: ArcticZymes Technologies (AZT.NO), Fasadgruppen Group (FG.SS) EGM

  • Data:

    • Economics:

      • Feb construction PMI

        • Germany 43.7 vs consensus 45.4, prior 44.7

        • UK 44.5 vs consensus 47.0, prior 46.4

      • Jan industrial production

        • France +0.5% m/m vs consensus +0.5%, prior revised +0.5% from (0.7%)

        • Spain +0.3% y/y vs consensus +1.7%, prior (0.3%)

      • Switzerland Feb unemployment rate (sa) 3.0% vs consensus 2.9%, prior 2.9%

      • Austria Q4 GDP +0.6% y/y vs preliminary +0.7%

      • Sweden Feb preliminary CPI +0.5% y/y vs consensus +0.6%, prior +0.5%

      • Jan Retail Sales

        • Eurozone +2.0% y/y vs consensus +1.7%, prior revised to 1.8% from +1.3%

        • Italy +2.3% y/y vs consensus +1.0%, prior +0.9%

    • Markets:

      • WTI Crude (Apr 26): +$4.86 or +6.51% to $79.52

      • €-$ (0.0062) or (0.53%) to 1.1574

      • £-$ (0.0060) or (0.45%) to 1.3314

      • €-£ (0.0008) to 0.8693

      • S&P 500 (0.72%)

      • Performance year-to-date

        • FTSE 100: +4.86%

        • DAX: (2.75%)

        • CAC: (1.27%)

        • MIB: (0.75%)

        • Stoxx 600: +2.13%

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