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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (1.24%) to 10284.75, DAX (0.94%) to 23591.03, CAC40 (0.65%) to 7993.49, STOXX 600 (1.02%) to 598.69

Mar 06 ,2026

  • Synopsis:

    • European equity markets finished lower, pulling back from earlier highs. Stoxx 600 and FTSE100 experiences worst weekly performance in a year. Follows sharply lower close on Thursday. US equity markets sharply lower in midday trading. Bonds weaker with market sensitive to inflation risk from ongoing energy price gains. Treasuries under pressure again though off worst levels; yields up another 3 bps. Gilts up 14 bps at 4.68%. Bund 1 bps higher at 2.86%. Dollar higher versus yen, euro and Swiss franc, softer versus Aussie. Oil pushing higher with Brent crude above $90/bbl level. Gold up. Industrial metals higher. Bitcoin lower.

    • European macro data not having much of an influence with focus on geopolitical backdrop, energy and impact on growth/inflation outlook. Eurozone Q4 GDP revised down to 0.2% q/q versus 0.3%. UK Halifax house price index edged higher in February as expected. In the US, details of payroll data were loss of 92K jobs and prior two months revised down 69K. Retail sales also down 0.2% m/m, though ex-autos flat.

    • Stagflationary fears in focus with weaker US payrolls data combined with upward pressure on the energy complex. Yields still backing up with energy concerns outweighing worries over US economy. Shut-in concerns in the spotlight after Qatar warned Gulf energy exporters may have to shut down production within days. Media reports said Kuwait has started cutting production in some fields. Market sensitive to headlines about measures Washington could take to help lower prices, but market participants skeptical. Similar dynamic when it comes to potential for conflict offramps. Trump has made conflicting remarks on potential for end of military campaign.

    • In other headlines related to Iran conflict, Trump said he intends to play a part in choosing next leader after he rejected second son of Ayatollah Ali Khamenei as "unacceptable". Also ruled out putting US troops on the ground. Focus in Europe remains on implications for economies due to dependency on energy imports, which reinforces the prospect of higher inflation and weaker growth outlook. Policymakers responding cautiously to shifting dynamics amid hawkish repricing in interest rate markets. Eurozone money markets pricing in modest rate hike later this year and UK market pricing out rate cuts.

    • On the earnings front, DACH names kicked off the morning session, with Deutsche Lufthansa (LHA.GR) posting Q4/FY25 numbers and also hiking dividend +10%; company issued some comments on the outlook and Middle East situation; in the Netherlands, after the close last night Universal Music Group (UMG.NA) reported Q4/FY25, with the company deciding that it is not the right time to move ahead with a US listing; in France, Spie (SPIE.FP) issued FY numbers. Elsewhere, IMI (IMI.LN) beat FY consensus; Piaggio & C (PIA.IM), Eurocommercial Properties (ECMPA.NA), bnode (BPOST.BB) and Tokmanni Group (TOKMAN.FH) reported most recent numbers. In the pharma sector, shares of Zealand Pharma (ZEAL.DC) and Roche (ROG.SW) shares traded lower after the Phase II amylin petrelintide obesity data underwhelmed on efficacy. Shares of BE Semiconductor Industries (BESI.NA) also ended sharply lower on the back of ZDNet article regarding next-generation HBM thickness.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Oil & Gas +0.80%, Food & Beverage (0.18%), Telecom (0.20%), Ind Goods & Svcs (0.27%), Utilities (0.47%), Financial Svcs (0.52%), Travel & Leisure (0.55%), Real Estate (0.63%), Persnl & HHold Goods (0.97%)

      • Underperformers:

        • Construct & Mtls (2.45%), Media (2.30%), Technology (1.96%), Autos & Parts (1.82%), Retail (1.76%), Banks (1.66%), Chemicals (1.65%), Basic Resources (1.64%), Health Care (1.58%), Insurance (1.18%)

    • Macro:

      • Geopolitics:

        • Trump to use British bases for 'surge' in Iran attacks: Telegraph

        • Deputy PM Lammy says UK could bomb Iranian missile sites: London Times

      • Economy:

        • Eurozone Q4 GDP revised down to 0.2% with trade drag, consumption drives growth amid Iran war uncertainties: Bloomberg

      • Markets:

        • Money markets price full ECB rate hike this year as Iran war inflation risks push yields higher: Bloomberg

      • Tariffs/Trade:

        • EU trade commissioner confident US will honor trade deal despite new tariff threats under Trump: Reuters

      • UK:

        • BRC update signals weakness in UK retail: Latest BRC footfall data

        • Lenders lift mortgage rates as Iran war hits borrowing costs: BBC

    • Peripheral markets:

      • Italy:

        • Trump's Iran airstrikes pressure Italy's Meloni ahead of crucial referendum on judicial reform: Politico

        • EU pushing Italy for more changes to its golden power legislation: Reuters

      • Finland:

        • Russia warns Finland it will be more vulnerable if it hosts nuclear weapons: Reuters

      • Iceland:

        • Iceland plans now or never referendum on EU negotiations: Reuters

    • Company news:

      • Notable Gainers

        • +36.4% IDEX.NO (IDEX Biometrics NOK9.00, +2.40) -- secures NOK 90M in private placement and exclusive technology partnership with APAC Biometric ID Solutions Provider

        • +27.3% AA4.LN (Amedeo Air Four Plus £0.70, +0.15) -- Lesha Bank LLC offered to acquire Amedeo Air Four Plus Ltd

        • +14.0% SECT.B.SS (Sectra SEK212.00, +26.00) -- earnings

        • +10.5% HPUR.NO (Hexagon Purus NOK1.16, +0.11) -- €6.2M purchase order for hydrogen distribution units

        • +9.3% AIFORIA.FH (Aiforia Technologies €1.99, +0.17) -- earnings

        • +8.0% AVIO.IM (Avio €36.35, +2.70) -- contract

        • +7.3% ITV.LN (ITV £0.83, +0.06) -- Kepler Cheuvreux upgrade

        • +5.8% JEN.BB (Jensen-Group €69.40, +3.80) -- earnings

        • +5.5% HUSCO.DC (HusCompagniet DKK34.50, +1.80) -- earnings

        • +5.4% AVON.LN (Avon Technologies £19.02, +0.98) -- order

        • +4.4% ROKO.B.SS (Röko SEK1,516.00, +63.20) -- acquisition

        • +3.8% SFSN.SW (SFS Group CHF119.40, +4.40) -- earnings

        • +2.3% IMI.LN (IMI £28.02, +0.62) -- earnings

        • +2.3% LEON.SW (Leonteq CHF14.42, +0.32) -- informed of the formation of a shareholder group and together hold 30% in Leonteq shares

      • Notable Decliners

        • -36.4% ZEAL.DC (Zealand Pharma DKK234.90, -134.30) -- Phase II amylin petrelintide obesity data underwhelms on efficacy

        • -25.1% CO.FP (Casino Guichard-Perrachon €0.17, -0.06) -- terms of France Retail Holdings proposal

        • -17.4% LXS.GR (Lanxess €13.56, -2.84) -- Advent HoldCo will in 2026 not take over LANXESS' shares in the ENVALIOR joint venture

        • -17.1% BESI.NA (BE Semiconductor Industries €155.80, -32.35) -- ZDNet article regarding next-generation HBM thickness cited

        • -16.6% COTN.SW (COMET Holding CHF236.80, -47.00) -- earnings

        • -13.4% TOKMAN.FH (Tokmanni Group €7.13, -1.11) -- earnings

        • -11.2% BPOST.BB (bnode €1.84, -0.23) -- earnings

        • -8.1% UMG.NA (Universal Music Group €17.80, -1.57) -- earnings

        • -6.9% CLTN.SW (Coltene Holding CHF50.90, -3.80) -- earnings

        • -6.8% IFX.GR (Infineon Technologies €39.37, -2.88) -- UBS downgrade

        • -6.6% MOZN.SW (mobilezone holding CHF14.32, -1.02) -- earnings

        • -5.8% MEDCL.FP (MedinCell €21.26, -1.32) -- pricing of its Private Placement for a total amount of €48M

        • -5.1% NB2.GR (Northern Data €9.68, -0.52) -- prelim Q4 revenue

        • -3.5% SPIE.FP (SPIE €48.62, -1.77) -- Chairman and CEO to step down; to adopt new governance structure with separation of functions of Chairman and CEO

        • -3.2% SNR.LN (Senior £3.02, -0.10) -- discloses offer of 272p/sh received from Advent in February was rejected

        • -2.9% ROG.SW (Roche Holding CHF341.20, -10.30) -- Phase II amylin petrelintide obesity data underwhelms on efficacy

        • -2.7% UCB.BB (UCB €250.10, -6.90) -- Morgan Stanley downgrade

        • -1.7% FGR.FP (Eiffage €134.80, -2.35) -- exclusive negotiations with BKW for the sale of Volterres

    • EU companies reporting 9-Mar:

      • Earnings:

        • DACHs: GEA Group (G1A.GR), Cosmo Pharmaceuticals (COPN.SW), Ascom Holding (ASCN.SW), Addex Therapeutics (ADXN.SW)

        • France: Seche Environnement (SCHP.FP)

        • Southern Europe: Digital Bros (DIB.IM)

        • UK: HgCapital Trust (HGT.LN), Clarkson (CKN.LN)

      • CMD/Events: MERLIN Properties SOCIMI (MRL.SM)

  • Data:

    • Economics:

      • Eurozone Q4 GDP +1.2% y/y vs 2nd estimate +1.3%; +0.2% q/q vs 2nd estimate +0.3%

      • UK Feb Halifax House Prices +1.3% y/y vs consensus +0.9% and prior revised +1.1% from +1.0%; +0.3% m/m vs consensus +0.3% and prior revised +0.8% from +0.7%

      • Denmark Jan Manufacturing Production +3.8% m/m vs consensus +0.5% and prior (1.0%)

      • Norway Jan Manufacturing Production (0.3%) m/m vs consensus +0.2% and prior revised to (0.2%) from (0.1%)

      • Greece Q4 GDP +2.4% y/y vs consensus +1.9% and prior revised +2.1% from +2.0%; +0.8% q/q vs consensus +0.5% and prior revised +0.7% from +0.6%

    • Markets:

      • WTI Crude (Apr 26): +$7.80 or +9.63% to $88.81

      • €-$ (0.0010) or (0.09%) to 1.1602

      • £-$ +0.0036 or +0.27% to 1.3393

      • €-£ (0.0028) to 0.8664

      • S&P 500 (0.99%)

      • Performance year-to-date

        • FTSE 100: +3.56%

        • DAX: (3.67%)

        • CAC: (1.91%)

        • MIB: (1.76%)

        • Stoxx 600: +1.10%

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.
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