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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE (0.27%), DAX (0.28%), CAC40 (0.75%)

Mar 11 ,2026

  • Synopsis

    • European equity market futures are pointing to a slightly lower open. Asia equities mostly higher Wednesday although most now well off their peaks. Sharp gains from the open in Japan, South Korea and Taiwan while Shenzhen is outperforming in Greater China. Hang Seng slipping into the red as the afternoon sessions commenced, India and Singapore also down. US futures higher.

    • Crude volatile following media report IEA weighing record reserves release. Report pulled futures slightly lower following earlier rebound tabbed to reports Iran began mining Hormuz, leading President Trump to warn of severe consequences. At one stage Tuesday, oil fell below $80 a deleted X post from US Energy Secretary Wright that navy escorted tanker through Strait of Hormuz. Meanwhile Hormuz anker traffic remains ground to a halt and energy facilities continue to be hit with UAE's largest refinery reportedly shut following drone strike.

    • In politics, there's an informal meeting of EU defence ministers, whilst in the UK, there's weekly PMQs at 12noon GMT, and parliamentary committee topics include questioning the Chancellor Reeves at 9:45 on her Spring Statement, along with growth and proposed regulation of stablecoins at 10:00 (BOE's Breeden, Mills) and warm homes plan at 15:00.

    • OPEC releases its latest monthly oil market report.

    • In central banks, ECB's de Guindos fireside chat at 9:30CET at 32nd Encuentro del Sector Financiero organised by ABC and Deloitte. Bundesbank's Lienenkämper speech at 11:00CET at one of the bank's regional offices and Mauderer speech at 13:30CET at South African Reserve Bank research conf. Riksbank publishes its latest business survey at 9:30CET.

    • Macro data due include Germany and Portugal Feb final CPI, Spain Jan retail sales and Denmark Jan trade balance.

    • In earnings, Porsche (P911.GR) reported FY EPS 0.47 vs FactSet 0.44, cut divi by ~(56%) and anticipates a very challenging market conditions for FY26 whilst Rheinmetall (RHM.GR) released FY EPS from cont ops €22.73 vs consensus €27.73; hikes divi by 42% and guides FY26. Still in the DACHs region, Wacker Chemie (WCH.GR) confirmed preliminary FY25 figures; FY26 EBITDA likely to be in range of €550-700M whilst Kloeckner & Co. (KCO.GR) FY net income (€53M) vs FactSet (€36.8M) and Henkel (HEN.3.GR) reports FY EPS €5.33 ex-items vs consensus €5.38. In France, Elis (ELIS.FP) reported FY results and Eurazeo (RF.FP) released AuM.

    • Also due to report today are Inditex (ITX.SM), ERG (ERG.IM), Webuild (WBD.IM), Legal & General Group (LGEN.LN), Hochschild Mining (HOC.LN), Balfour Beatty (BBY.LN) and CVC Capital Partners (CVC.NA).

  • Politics/Macro/World News

    • IEA proposes largest ever oil release from strategic reserves, media report says - Reuters

    • US strikes minelaying ships in Iran after warning of 'intense' day of bombing - BBC

    • Energy Secretary Chris Wright says US Navy successfully escorted oil tanker through Strait of Hormuz -- tweet (~13:00ET)

    • White House asked Israel to halt attacks on Iran's energy infrastructure -- Axios, citing sources

    • Trump comments on reports Iran possibly placing mines in Strait of Hormuz -- Truth Social post

    • Oil futures move lower on media report that IEA weighing large release from strategic reserves

  • Top company news

    • Earnings/updates

      • Benelux:

        • DIE.BB (D'Ieteren Group) -- reports FY adjusted profit before tax €955.6M, (10%) vs year-ago €1.07B

        • BFIT.NA (Basic-Fit) -- reports FY underlying net profit €54.3M vs FactSet €35.5M [10 est, €14.2-64.2M]

        • AGFB.BB (Agfa-Gevaert) -- reports Q4 adjusted EBITDA €39M vs FactSet €22.8M [1 est]

      • DACHs:

        • P911.GR (Porsche) -- reports FY EPS 0.47 vs FactSet 0.44; cuts divi by ~(56%) and anticipates a very challenging market conditions for FY26; updates on business plan

        • RHM.GR (Rheinmetall) -- reports FY EPS from cont ops €22.73 vs consensus €27.73; hikes divi by 42% and guides FY26

        • UN0.GR (Uniper) -- reports FY adjusted net income €544M vs FactSet €439.7M

        • WCH.GR (Wacker Chemie) -- confirms preliminary FY25 figures; FY26 EBITDA likely to be in range of €550-700M

        • HEN3.GR (Henkel) -- reports FY EPS €5.33 ex-items vs consensus €5.38

        • AVOL.SW (Avolta) -- reports FY CORE net income attributable CHF199M vs consensus CHF431M

        • BKW.SW (BKW AG) -- reports FY adjusted net income CHF353.1M vs FactSet CHF368.4M [6 est, CHF339.7-435M]

        • B8FK.GR (Biofrontera AG) -- guides FY26 Adjusted EBITDA €3.5-5.1M

        • KCO.GR (Kloeckner & Co.) -- reports FY net income (€53M) vs FactSet (€36.8M) [5 est, (€55.3)-(23M)]

        • VETN.SW (Vetropack Holding) -- reports FY net income CHF3.8M vs FactSet CHF7M [1 est] and guidance " in the single-digit million range"

      • France:

        • RF.FP (Eurazeo) -- reports Assets Under Management (AUM): +8% to €39B, including +15% for third parties

        • PIG.FP (Haulotte Group) -- reports FY net income (€39M) vs FactSet (€29.6M) [4 est, (€34.1)-(24.0M)]

        • ELIS.FP (Elis) -- reports FY net income €467.3M vs FactSet €453.2M [14 est, €348.3-486M]

      • Nordics:

        • CLAS.B.SS (Clas Ohlson) -- reports Q3 EPS SEK8.09 vs FactSet SEK7.73 [4 est, SEK7.49-7.99]

    • M&A

      • WHA.NA (Wereldhave) -- acquires supermarket unit and completes ownership of shopping center Ville2 in Charleroi

      • BAM.CN (Brookfield Asset Management) -- in discussions with EQT AB and PAI Partners to acquire World Freight Co. in a deal that could potentially be valued at ~ $1.2-1.3B - Bloomberg; citing people familiar with the matter (earlier)

      • MB.IM (Mediobanca) -- Banca Monte dei Paschi di Siena and Mediobanca approve merger plan

      • KKR (KKR & Co.) -- Speculation around buyer interest in Colonial First State - The Australian (pre-US open)

      • LONN.SW (Lonza Group) -- to go on the offensive after selling Capsules & Health Ingredients business - FuW

      • HLN.LN (Haleon) -- seeking to increase portfolio depth, with bolt-on M&A a priority - Bloomberg

      • COFB.BB (Cofinimmo) -- announces completion of Aedifica's exchange offer on Cofinimmo

      • AGI.AU (Ainsworth Game Technology) -- holder Kjerulf Ainsworth launches proportional takeover offer for 5.5% of shares

      • Brookfield seeking to sell Ausco Modular - Australian Financial Review

      • Stonepeak in active negotiations to acquire Estia Health - Australian Financial Review

    • Healthcare

      • UCB.BB (UCB) -- reports positive BE BOLD data as BIMZELX shows superiority over SKYRIZI in PsA

      • GMAB.DC (Genmab) -- NICE recommends Genmab's Tepkinly to treat relapsed or refractory follicular lymphoma after 2 or more lines of systemic treatment in adults

      • DBV.FP (DBV Technologies) -- Transcript Intelligence: DBV Technologies at The Citizens Life Sciences Conference

      • GALD.SW (Galderma Group) -- Galderma holders repurchase 1.6M shares at a price of CHF 143.75/each

      • SDZ.SW (Sandoz Group) -- extends maturity of the $2.0B multi-currency revolving credit facility (RCF) by one year to 31-Mar-31

      • VLA.FP (Valneva) -- SEC filing: SCHEDULE 13D/A (Filed by Bpifrance Participations SA)

    • Other

      • TOM2.NA (TomTom) -- announces that Kapsch TrafficCom has selected TomTom Traffic to power the next generation of its intelligent mobility offerings

      • KINV.B.SS (Kinnevik) -- NINGI Research comments on Kinnevik's clarifications

      • ELK.NO (Elkem) -- announces new corporate structure and cost reductions to strengthen competitiveness amid challenging markets

      • FTK.GR (flatexDEGIRO) -- Amundi holds 5.1% of voting rights attached to share of flatexDEGIRO vs prior 3.2% as of 3-Mar

      • HBR.LN (Harbour Energy) -- holder EIG to sell ~60M ordinary shares through proposed secondary placing

      • OPM.FP (OPmobility) -- appoints Christian Kopp as Chief Operating Officer

      • AIR.FP (Airbus SE) -- announces Garuda Technologies Inc. has signed contract for delivery of up to 18 Flexrotor Uncrewed Aerial Systems

      • RIO.LN (Rio Tinto) -- secures $1.175B financing package for Rincon lithium project in Argentina

      • ALO.FP (Alstom) -- secures €1.03B contract with Comboios de Portugal to supply 153 Adessia Stream trains

      • LDO.IM (Leonardo) -- refinances a portion of its debt; signs new €600M ESG-linked term loan

      • EN.FP (Bouygues) -- subsidiary Colas awarded €264M contract for I10 expansion in California

      • Chevron and Shell reportedly nearing initial oil production deals with Venezuela -- Reuters, citing sources

      • Daimler Truck North America partners with Allison Transmission to deliver advanced propulsion solutions for Freightliner M2 106 Plus

  • Key rating changes

    • Upgrades

      • AMS.SM (Amadeus IT Group) -- buy from hold at Bestinver Securities

      • PUUILO.FH (Puuilo) -- to buy from hold at DNB Carnegie

      • SLR.SM (Solaria Energia) -- to outperform from sector perform at RBC Capital Markets

      • UPM.FH (UPM-Kymmene) -- to hold from sell at Berenberg

    • Downgrades

      • AML.LN (Aston Martin Lagonda Global Holdings) -- to market perform from outperform at Bernstein

      • ROVI.SM (Laboratorios Farmaceuticos Rovi, S.A.) -- to hold from buy at Jefferies

  • Data

    • Nikkei +1.43% to 55025.37

    • Hang Seng +0.08% to 25979.73

    • Shanghai Composite +0.26% to 4133.97

    • S&P futures +20.0 vs prior close of 6787.3

    • €-$ +0.0022 or +0.19% to 1.1633

    • $-¥ (0.07) or (0.04%) to 157.98

    • €-¥ +0.29 or +0.16% to 183.78

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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