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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.90%) to 10318.92, DAX (1.37%) to 23640.03, CAC40 (0.19%) to 8041.81, STOXX 600 (0.59%) to 602.52

Mar 11 ,2026

  • Synopsis:

    • European equity markets ended lower. Energy, retail and media the top gainers; real estate, financial services, and industrials the big laggards. Follows positive performance on both Monday and Tuesday.

    • Oil price volatility continues to dominate, with Brent briefly falling below $80 after a now-deleted post from US Energy Secretary Wright suggested Navy had escorted a tanker through the Strait of Hormuz. Prices then recovered as reports emerged Iran had begun mining the strait, prompting a sharp warning from President Trump. Prices remained contained as IEA is reportedly proposing largest strategic reserve release in history. Yet, markets are increasingly uneasy about war's trajectory. Reports of UAE's largest refinery shutting following a drone strike add to supply-side anxiety.

    • Focus in Europe today shifts partly to central banks, at a moment when energy-driven inflation risks are forcing a hawkish recalibration across G10 rate markets. BoE has seen the sharpest dovish unwind of any major central bank. Meanwhile, European governments discussing support measures with ETS debate intensifying and EU Council summit on 19-20 Mar looming as the next key policy flashpoint. German inflation confirmed at 2.0% in Feb.

    • In corporate earnings, DACH names kick off a busy morning with Avolta (AVOL.SW), Porsche (P911.GR), Wacker Chemie (WCH.GR), Henkel (HEN3.GR), Uniper (UN0.GR), and Rheinmetall (RHM.GR) reporting. Also, Gerresheimer (GXI.GR) in the spotlight after delaying its 2025 accounts, likely exiting the SDAX. In France, Elis (ELIS.FP) posts FY results and Eurazeo (RF.FP) reports AUM. Inditex (ITX.SM) reports in Spain, Basic-Fit (BFIT.NA) and CVC Capital Partners (CVC.NA) in Benelux, while the UK sees updates from Legal & General (LGEN.LN), Balfour Beatty (BBY.LN), Hochschild Mining (HOC.LN), Canal+ (CAN.LN), and Bodycote (BOY.LN).

    • Looking ahead to tomorrow's EU econ-calendar, notable releases will include, amongst others, the UK Feb house price balance - RICS.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Oil & Gas +1.59%, Retail +0.28%, Media +0.26%, Travel & Leisure +0.21%, Telecom (0.13%), Autos & Parts (0.20%), Chemicals (0.31%), Technology (0.32%), Construct & Mtls (0.44%), Basic Resources (0.47%), Banks (0.55%)

      • Underperformers:

        • Real Estate (2.07%), Financial Svcs (1.52%), Ind Goods & Svcs (1.15%), Persnl & HHold Goods (0.91%), Health Care (0.90%), Utilities (0.76%), Insurance (0.73%), Food & Beverage (0.60%)

    • Macro:

      • Central banks:

        • The Bank of England must resist the urge to fiddle with rates -- Telegraph

      • EU:

        • Europe explores capping natural gas prices -- FT

        • Europe prepares to approve historic emergency oil release -- Politico

        • EU's climate regret is too little, too late -- UnHerd

      • UK:

        • Average UK mortgage rate tops 5% as lenders scurry to reprice loans amid Middle East crisis -- Guardian

        • UK's Reeves says it is too soon for major energy relief as Iran war drives prices higher -- Reuters

      • Germany:

        • Germany Can Weather Iran War If It Doesn't Last, Institute Says -- Bloomberg

      • France:

        • Lescure Says Not Revising French Growth Forecasts Yet -- Bloomberg

      • Italy:

        • Italy's Meloni criticises US war on Iran as part of dangerous trend -- Reuters

    • Company news:

      • Notable Gainers

        • +46.1% CURN.SW (Curatis Holding CHF26.00, +8.20) -- grants Neupharma exclusive rights to develop, commercialize corticorelin for peritumoral brain edema in Japan

        • +9.3% CPI.LN (Capita £3.01, +0.26) -- response to Ofgem statement regarding final price disallowance

        • +8.8% CLAS.B.SS (Clas Ohlson SEK390.20, +31.40) -- earnings

        • +8.0% BBY.LN (Balfour Beatty £7.59, +0.57) -- earnings; £200M share buyback

        • +7.7% RBW.LN (Rainbow Rare Earths £0.28, +0.02) -- agreement with Mosaic Company; releases Positive Economic Assessment on the Uberaba Project in Brazil

        • +7.5% BOY.LN (Bodycote £7.61, +0.53) -- earnings; £80M Share Buyback Programme

        • +7.4% UN0.GR (Uniper €36.80, +2.55) -- earnings

        • +5.9% WCH.GR (Wacker Chemie €72.75, +4.05) -- earnings

        • +4.9% AGFB.BB (Agfa-Gevaert €0.48, +0.02) -- earnings

        • +4.7% NORAM.NO (NorAm Drilling NOK43.15, +1.95) -- monthly rig update and cash distribution details; Fearenley upgrade

        • +4.2% EAH.LN (Eco Animal Health Group £1.00, +0.04) -- favourable safety assessment from United States Department of Agriculture for ECOVAXXIN MG

        • +3.9% BREE.LN (Breedon Group £3.34, +0.12) -- earnings

        • +3.7% AVOL.SW (Avolta CHF47.52, +1.68) -- earnings

        • +3.4% CRL.IM (Carel Industries €22.95, +0.75) -- earnings; Kepler Cheuvreux upgrade

        • +3.2% SLR.SM (Solaria Energia €20.70, +0.65) -- RBC Capital Markets upgrade

        • +2.7% VOS.GR (Vossloh €73.30, +1.90) -- Kepler Cheuvreux upgrade

        • +2.5% ELIS.FP (Elis €25.68, +0.62) -- earnings

        • +2.4% MB.IM (Mediobanca €16.55, +0.39) -- Banca Monte dei Paschi di Siena and Mediobanca approve merger plan; Intesa Sanpaolo upgrade

      • Notable Decliners

        • -63.4% NEXT.NO (Next Biometrics Group NOK0.33, -0.56) -- earnings; rights issue

        • -28.7% ALBPS.FP (Biophytis €0.03, -0.01) -- capital increase

        • -21.6% CAN.LN (Canal+ SA £2.32, -0.64) -- earnings; rights issue

        • -17.1% NESF.LN (NextEnergy Solar Fund £0.45, -0.09) -- new strategic review, reset & roadmap; targeting total long‑term returns of between 9% to 11%

        • -11.3% RF.FP (Eurazeo €39.88, -5.08) -- AuM

        • -8.7% GXI.GR (Gerresheimer €18.07, -1.73) -- postpones publication of 2025 annual statements and AGM; announces exclusion from SDAX

        • -8.0% RHM.GR (Rheinmetall €1,520.50, -132.50) -- earnings

        • -7.7% CVC.NA (CVC Capital Partners €10.94, -0.91) -- earnings

        • -7.5% HOC.LN (Hochschild Mining £6.48, -0.53) -- earnings

        • -6.5% LGEN.LN (Legal & General Group £2.42, -0.17) -- earnings

        • -6.3% FOUR.LN (4imprint Group £36.20, -2.45) -- earnings

        • -5.4% ENVI.NA (Envipco Holding €4.35, -0.25) -- earnings

        • -5.1% SMIN.LN (Smiths Group £24.68, -1.32) -- BNP Paribas Exane downgrade

        • -5.1% HBR.LN (Harbour Energy £2.69, -0.14) -- holder EIG completes placing of 60.0M shares at a price of 255p/share

        • -5.1% DHER.GR (Delivery Hero €17.45, -0.95) -- BofA downgrade

        • -4.6% ROVI.SM (Laboratorios Farmaceuticos Rovi, S.A. €79.25, -3.80) -- Jefferies downgrade

        • -4.5% ALSN.SW (ALSO Holding CHF157.40, -7.40) -- UBS downgrade

        • -4.5% ASC.IM (Ascopiave €3.69, -0.18) -- Kepler Cheuvreux downgrade

        • -3.8% HEN3.GR (Henkel €70.32, -2.76) -- earnings

        • -3.3% DR0.GR (Deutsche Rohstoff €80.20, -2.70) -- earnings

        • -3.2% BFIT.NA (Basic-Fit €28.64, -0.96) -- earnings

        • -3.1% LDO.IM (Leonardo €60.52, -1.94) -- refinances a portion of its debt

        • -3.0% KINV.B.SS (Kinnevik SEK51.88, -1.60) -- NINGI Research comments on Kinnevik's clarifications

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: Vienna Insurance Group (VIG.AV), Oesterreichische Post (POST.AV)

        • Benelux: Groupe Bruxelles Lambert (GBLB.BB), Pharming Group (PHARM.NA)

        • France: Vivendi (VIV.FP), JCDecaux (DEC.FP), Rubis (RUI.FP), Maurel et Prom (MAU.FP), Antin Infrastructure Partners (ANTIN.FP), Voltalia (VLTSA.FP), Sword Group (SWP.FP), Verimatrix (VMX.FP)

        • Germany: Bayerische Motoren Werke (BMW.GR), RWE (RWE.GR), Daimler Truck (DTG.GR), Hannover Re (HNR1.GR) Brenntag (BNR.GR), Zalando (ZAL.GR), Siltronic (WAF.GR), MLP (MLP.GR), GRENKE (GLJ.GR)

        • Nordics: Bavarian Nordic (BAVA.DC), Columbus (COLUM.DC), Rusta (RUSTA.SS)

        • Other: CEZ (CEZ.CP)

        • Southern Europe: Assicurazioni Generali (G.IM), ACEA (ACE.IM), Avio (AVIO.IM), SeSa (SES.IM), Safilo Group (SFL.IM), Aquafil (ECNL.IM), Multitude (FRU.MIL.IM)

        • Switzerland: Swiss Life Holding (SLHN.SW), Accelleron Industries (ACLN.SW),Bachem Holding (BANB.SW), Kardex Holding (KARN.SW), Interroll Holding (INRN.SW), PolyPeptide Group (PPGN.SW), Autoneum Holding (AUTN.SW), Molecular Partners (MOLN.SW)

        • UK: Informa (INF.LN), M&G (MNG.LN), Computacenter (CCC.LN), Helios Towers (HTWS.LN), TP ICAP Group (TCAP.LN), Savills (SVS.LN), Volution Group (FAN.LN), Vesuvius (VSVS.LN), Oakley Capital Investments (OCI.LN), Alfa Financial Software Holdings (ALFA.LN), Secure Trust Bank (STB.LN), James Fisher & Sons (FSJ.LN)

      • Trading Update:

        • UK: Halma (HLMA.LN)

  • Data:

    • Economics:

      • Germany February CPI y/y +1.9% vs consensus +1.9% and prior +2.1%

    • Markets:

      • WTI Crude (26-Apr): +$4.54 or +5.44% to $87.99

      • €-$ (0.0037) or (0.32%) to 1.1574

      • £-$ (0.0010) or (0.07%) to 1.3409

      • €-£ (0.0022) to 0.8632

      • S&P 500 (0.24%)

      • Performance year-to-date:

        • FTSE 100: +3.90%

        • DAX: (3.47%)

        • CAC: (1.32%)

        • MIB: (0.38%)

        • Stoxx 600: +1.74%

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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