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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.43%) to 10261.15, DAX (0.60%) to 23447.29, CAC40 (0.91%) to 7911.53, STOXX 600 (0.50%) to 595.85

Mar 13 ,2026

  • Synopsis:

    • European equity markets closed lower Friday in very volatile session Defensives and energy the top performers; miners, travel, industrials and construction the big laggards. US equities mostly lower in Friday midday trading, reversing earlier gains after latest Iran updates.

    • Iran war ending its second week with little clarity as to the endgame. Trump overnight highlighted US firepower and said "watch what happens" today; Axios said he told G7 leaders Wednesday Iran was about to surrender. But rhetoric from Iran's new supreme leader has remained defiant and a lot of reporting about potential minelaying in the Strait of Hormuz (while military escorts for tankers may still be weeks away). Not a lot of talk about off-ramps though analysts have suggested market could still be very sensitive to de-escalation signals.

    • Latest oil updates mixed, with France, Italy in talks with Tehran to guarantee passage through Strait of Hormuz, though Saudi Arabia cut oil output by 2M bpd. Fed funds futures now price less than 25bps of easing this year, odds of no Fed cut through year-end reached 46% and money markets now fully price an ECB hike by Jul with a 70% chance of a second by Dec. US Treasury Department launched new Sec. 301(b) trade investigations of 60 countries regarding forced-labor practices.

    • Focus in Europe on data. UK GDP m/m softer at 0% versus 0.2% expected. Means economy was stalling ahead of Middle East conflict. Industrial production also missed expectations. Eurozone industrial production much worse than forecast, at -1.2% y/y versus +1.4% expected. Elsewhere, Bund yields hit highest level in almost two and a half years, reflecting the dramatic repricing of ECB policy expectations from cuts to hikes. Key variables are duration of Iran conflict, supply chain vulnerabilities and any emerging cracks in 2026 profit growth expectations.

    • On the reporting front, Vivendi (VIV.FP) down after FY numbers last night; different story for Safilo (SFL.IM) up +2% after its update; UNIQA Insurance Group (UQA.AV) also released its prelim FY report and - in the UK - Berkeley Group Holdings (BKG.LN) re-affirmed its FY26 pre-tax profit guidance of £450M; of note, Galp (GALP.PL) stated that the Brazil temporary tax on oil exports will potentially represent a cash impact of up to €100M.

    • In M&A news, Zalaris (ZAL.NO) and Norvestor agreed on a recommended cash offer of NOK 100/sh for Zalaris; BE Semiconductor Industries (BESI.NA) responded to media rumours on a potential M&A deal, whilst ABB (ABBN.SW) chairman said he is open to 'more than one' big deal in renewed M&A drive but declined to comment on Legrand (LR.FP); overnight, wires reported that Stellantis (STLAM.IM) is exploring European partnerships with Xiaomi and XPeng and a possible Maserati stake sale.

    • Looking ahead to Monday's calendar (see - Europe Week Ahead: 16-Mar to 20-Mar attached) Tecan Group (TECN.SW),StarragTornos Group (STGN.SW), Hypoport (HYQ.GR), Valneva (VLA.FP), NewPrinces (NWL.IM), Aeroporto Guglielmo Marconi di Bologna (ADB.IM), Standard Life (SDLF.LN), SigmaRoc (SRC.LN), Marshalls (MSLH.LN), Beeks Financial Cloud Group (BKS.LN), Aeroport de Paris (ADP.FP), Tecan Group (TECN.SW), Andritz (ANDR.AV) investor meeting (Oxcap Analytics), PCI Biotech Holding (PCIB.NO) EGM, and Volkswagen Group Mobility (VOW.GR) (annual press conf) will be amongst other names to update investors, whilst the macro-calendar releases will include Norway Feb trade balance, UK Mar house price index - Rightmove.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Food & Beverage +1.21%, Telecom +1.15%, Utilities +1.09%, Insurance +0.70%, Media +0.53%, Oil & Gas +0.28%, Financial Svcs +0.06%, Health Care (0.12%), Technology (0.14%), Retail (0.19%), Chemicals (0.27%),

      • Underperformers:

        • Basic Resources (3.31%), Ind Goods & Svcs (1.80%), Autos & Parts (1.37%), Travel & Leisure (1.25%), Banks (1.24%), Construct & Mtls (1.15%), Persnl & HHold Goods (1.08%), Real Estate (0.58%),

    • Macro/Peripheral markets:

      • Geopolitics

        • UK urges allies to keep pressure on Russia after US eases sanctions - The Times

        • Seeking support in France, Zelenskiy says Russia oil waiver won't help end war - Reuters

        • NATO intercepts third Iranian missile heading toward Turkey - Politico

        • OPEC Oil Output Rose Ahead of Iran War on Saudi Boost, Survey Shows - Bloomberg

      • EU

        • EU Floats Fix for Euro Use That's Clouding Montenegro's Membership Bid - Bloomberg

        • EU Set to Suspend Some Duty-Free Sugar Imports for a Year - Bloomberg

      • UK

        • Petrol retailers in row with government over 'rip off' accusations - BBC

        • Miliband reveals plans that could mean nuclear power plants built near homes - The Guardian

      • France

        • France and Italy open talks with Iran in hope of securing safe Hormuz passage - FT

        • France's position in Middle East is defensive, Macron says, after attack on its soldiers - Reuters

      • Germany

        • Merz in Norway - "We have relied on others for too long" - Handelsblatt

      • Switzerland

        • Swiss Government Pushes EU Deal as a 'Strategic Necessity' - Bloomberg

      • Sweden

        • Swedish Liberals and Sweden Democrats agree pact to boost right's September election chances - Reuters

    • Company news:

      • Trading Higher:

        • +37.3% ZAL.NO (Zalaris NOK98.00, +26.60) -- company and Norvestor agree on recommended cash offer of NOK 100/share for the group in deal valued at ~NOK 2.2B

        • +23.4% RECSI.NO (REC Silicon NOK0.31, +0.06) -- EGM has today approved rights issue and share capital reduction

        • +8.6% THRU.LN (Thruvision Group £0.01, -0.00) -- contract

        • +7.5% ZAL.GR (Zalando €23.67, +1.65) -- Bernstein upgrade

        • +6.6% BESI.NA (BE Semiconductor Industries €186.85, +11.60) -- responds to media rumours on potential M&A deal

        • +6.6% HLAG.GR (Hapag-Lloyd €142.20, +8.80) -- Kepler Cheuvreux upgrade

        • +4.7% NANO.FP (Nanobiotix €28.75, +1.30) -- target increased at Stifel

        • +4.7% GLJ.GR (GRENKE €13.34, +0.60)

        • +4.0% VIVE.SS (Vivesto SEK0.08, -0.00) -- first dogs have been dosed in ongoing pharmacokinetic and toxicology study with Cantrixil

        • +3.0% REP.SM (Repsol €22.93, +0.66)

        • +2.7% RHM.GR (Rheinmetall €1,593.00, +42.50)

        • +2.6% POST.AV (Oesterreichische Post €33.75, +0.85)

        • +2.2% SDF.GR (K+S AG €18.23, +0.39)

        • +2.1% ZEAL.DC (Zealand Pharma DKK268.20, +5.40)

        • +1.9% MXHN.GR (MAX Automation €3.68, +0.07)

      • Trading Lower:

        • -11.1% CLI.LN (CLS Holdings £0.52, -0.06) -- FY earnings

        • -8.4% SZG.GR (Salzgitter €40.82, -3.72) -- sector move

        • -8.0% WBD.IM (Webuild €2.50, -0.22)

        • -5.8% BELYS.BB (Belysse Group €0.65, -0.04) -- FY earnings

        • -5.7% EQUI.IM (Equita Group €5.48, -0.33) -- FY earnings

        • -5.5% FRES.LN (Fresnillo £34.30, -2.00) -- sector move

        • -5.3% GXI.GR (Gerresheimer €17.50, -0.97)

        • -4.8% MARR.IM (Marr €7.94, -0.40) -- FY earnings

        • -4.7% FRA.GR (Fraport €69.85, -3.45) -- announces future dividend policy

        • -4.5% MT.NA (ArcelorMittal €44.65, -2.08) -- sector move

        • -3.3% ETL.FP (Eutelsat Communications €1.96, -0.07) -- termination of capacity contracts on express AT1 and AT2 satellites

        • -3.3% UQA.AV (UNIQA Insurance Group €15.02, -0.52) -- prelim FY earnings

        • -3.0% KER.FP (Kering €248.10, -7.65)

        • -2.9% GRG.LN (Greggs £16.33, -0.49)

        • -2.8% ETTE.FH (Etteplan €8.24, -0.24) -- concludes change negotiations in Software and Embedded Solutions service area

        • -2.5% NESTE.FH (Neste €27.20, -0.69) -- BofA downgrade

        • -2.5% OMG.LN (Oxford Metrics £0.47, -0.01)

        • -2.4% GVR.ID (Glenveagh Properties €2.07, -0.05) -- confirms preliminary FY earnings

        • -2.3% HOC.LN (Hochschild Mining £6.50, -0.15) -- sector move

        • -2.0% BKG.LN (Berkeley Group Holdings £36.80, -0.76) -- 4M trading statement

        • -2.0% FUTR.LN (Future Plc £4.32, -0.09)

        • -1.6% OCDO.LN (Ocado Group £1.99, -0.03)

    • EU companies reporting monday:

      • Earnings:

        • DACHs: Tecan Group (TECN.SW),StarragTornos Group (STGN.SW), Hypoport (HYQ.GR)

        • France: Valneva (VLA.FP)

        • Southern Europe: NewPrinces (NWL.IM), Aeroporto Guglielmo Marconi di Bologna (ADB.IM)

        • UK: Standard Life (SDLF.LN), SigmaRoc (SRC.LN), Marshalls (MSLH.LN), Beeks Financial Cloud Group (BKS.LN)

      • Traffic: Aeroport de Paris (ADP.FP)

      • CMD/Events: Tecan Group (TECN.SW), Andritz (ANDR.AV) investor meeting (Oxcap Analytics), PCI Biotech Holding (PCIB.NO) EGM, Volkswagen Group Mobility (VOW.GR) annual press conf.

  • Data:

    • Economics:

      • Feb CPI

        • Finland +0.6% y/y vs consensus +0.5% and prior (0.2%)

        • France +0.9% y/y vs preliminary +1.0%

        • Spain +2.3% y/y vs preliminary +2.3%

      • UK Jan

        • Construction Output (0.2%) y/y vs consensus (0.1%) and prior (0.3%)

        • Visible Trade Balance (£14.45B) vs consensus (£22.2B) and prior (£22.72B)

        • Industrial Production +0.4% y/y vs consensus +0.6% and prior +0.5%

      • Sweden Feb Unemployment Rate 8.8% vs consensus 8.4% and prior 8.6%

      • Italy Jan Industrial Production (0.6%) y/y vs consensus +0.8% and prior revised +2.7% from +3.2%

      • Eurozone Jan Industrial Production (1.2%) y/y vs consensus +1.4% and prior revised +2.2% from +1.2%

    • Markets:

      • WTI Crude (Apr 26): +$1.40 or +1.46% to $97.13

      • €-$ (0.0074) or (0.64%) to 1.1440

      • £-$ (0.0105) or (0.79%) to 1.3237

      • €-£ +0.0016 to 0.8643

      • S&P 500 (0.23%)

      • Performance year-to-date

        • FTSE 100: +3.32%

        • DAX: (4.26%)

        • CAC: (2.92%)

        • MIB: (1.40%)

        • Stoxx 600: +0.62%

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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