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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.20%, DAX +0.11%, CAC40 (0.11%)

Mar 13 ,2026

  • Synopsis

    • European indices are set to open lower as Asia stocks trade lower again although off their troughs. Japan, South Korea and Taiwan leading the declines with more modest losses in Hong Kong, Australia and Singapore. India opening lower again and headed for an underperformance on a w/w basis. Southeast Asia modestly lower.

    • US equities finished lower in Thursday trading as stocks ended near worst levels. S&P 500 and Nasdaq now pacing for weekly declines. Big tech all lower with TSLA, META the worst performers, while semis, broader AI-linked trade also sold off.

    • On Iran, still a lot of headline noise, though nothing has shifted skepticism about a nearer-term resolution given ongoing US/Israeli strikes, Iranian attacks on regional targets, and no oil flow through the Strait of Hormuz. New Iranian leader Mojtaba Khamenei said strait closure should continue; Trump said destroying Iranian regime a bigger priority than energy prices.

    • Friday sees, in politics, Chancellor Merz participating in a roundtable discussion on space cooperation in Norway. He will be accompanied by defense minister Pistorius and research minister Bär.

    • Economic due today: France Feb final CPI, Spain Feb final CPI, Italy Jan industrial production, UK Jan industrial/manufacturing production, trade balance, construction output, Eurozone Jan industrial production, Sweden Feb unemployment rate,

    • Earnings reported so far: (MOVE.SW) Medacta Group reports FY net income €95.5M vs FactSet €101.5M. (KESKOB.FH) Kesko reports Feb sales from continuing operations €951.7M, +3.0% in comparable terms. (SIFG.NA) Sif Holding reports FY adjusted EBITDA €48M vs FactSet €42.0M.

  • Politics/Macro/World News

    • Middle East war live: US to ease Russian oil sanctions as energy prices soar (FT )

    • US targets UK, EU and Canada in new round of tariff probes (FT )

  • Top company news

    • Earnings/updates

      • VIV.FP (Vivendi) -- reports FY net income €20M vs FactSet €95.7M [6 est, €8.6-216M]

      • MOLN.SW (Molecular Partners) -- reports financial results for FY25; provides pipeline update

      • MOVE.SW (Medacta Group) -- reports FY net income €95.5M vs FactSet €101.5M [4 est, €97.9-105.8M]

      • KESKOB.FH (Kesko) -- reports Feb sales from continuing operations €951.7M, +3.0% in comparable terms

      • SFL.IM (Safilo Group) -- reports FY adjusted net income €44.6M vs FactSet €38.0M

    • M&A

      • GLEN.LN (Glencore) -- hoping recent coal price surge will help bring Rio Tinto back to negotiating table for fresh attempt at merger - Reuters

      • BESI.NA (BE Semiconductor Industries) -- draws takeover interest - Reuters

      • STLAM.IM (Stellantis) -- Follow-up: Stellantis exploring European partnerships with Xiaomi and XPeng and possible Maserati stake sale - Bloomberg

      • TRUE.TB (True Corp. Public Co.) -- Telenor completes tranche 1 of sale of shares in True Corporation

      • BNOR.NO (BlueNord) -- holders Kite Lake and Dolomite sells combined 2.1M-shares in the company at NOK554/share

      • HPUR.NO (Hexagon Purus) -- completes divestment of aerospace business to SpaceX

      • EQUI.IM (Equita Group) -- reports FY net income €24.3M vs FactSet €22.5M [2 est, €22.2-22.7M]; Iccrea Banca to take minority stake (post EU close 12-Mar)

      • CAPMAN.FH (Capman) -- acquires two major residential development projects in Stockholm; price undisclosed

      • EU clears Bridgepoint and Polaris Private Equity's acquisition of PDSVISION

    • Other

      • ITX.SM (Inditex) -- Street Takeaways - Inditex FY Earnings

      • HEIA.NA (Heineken) -- Transcript Intelligence: Heineken at UBS Global Consumer and Retail Conference

      • RWE.GR (RWE) -- releases 2025 Annual Report (includes Group Sustainability Statement) (1125ET)

      • AGN.NA (Aegon) -- SEC filing: SCHEDULE 13D/A (Filed by Vereniging Aegon)

      • AVOL.SW (Avolta) -- to launch up-to-CHF225M share buyback program 16-Mar

      • GBLB.BB (Groupe Bruxelles Lambert) -- reports NAV €105.37 per share as of 31-Dec-25

      • RF.FP (Eurazeo) -- announces the conclusion or renewal of several Family Shareholder agreements

      • ETL.FP (Eutelsat Communications) -- announces termination of capacity contracts on express AT1 and AT2 satellites

      • NAS.NO (Norwegian Air Shuttle) -- will appeal today's judgement from the Borgarting Court of Appeal concerning the EU ETS obligations for 2020

      • NAS.NO (Norwegian Air Shuttle) -- completes 2.0M share buyback

      • 2026 shareholder proxy season to see fewer proposals, reduced SEC mediation (12-Mar)

      • Rio Tinto suspends all surface and underground mining operations at Kennecott following death of an employee of a contracting company

  • Key rating changes

    • Upgrades

      • ADM.LN (Admiral Group) -- to outperform from sector perform at RBC Capital Markets

      • SBRE.LN (Sabre Insurance Group) -- to hold from underperform at Jefferies

      • ZAL.GR (Zalando) -- to market perform from underperform at Bernstein

    • Downgrades

      • CPI.LN (Capita) -- to hold from buy at Deutsche Numis

    • Initiations

      • CSG.NA (CSG NV) -- buy at Deutsche Bank

      • SQZ.LN (Serica Energy) -- buy at Berenberg

  • Data

    • Nikkei (1.07%) to 53868.78

    • Hang Seng (0.75%) to 25524.28

    • Shanghai Composite (0.50%) to 4108.37

    • S&P futures +11.0 vs prior close of 6677.5

    • €-$ (0.0016) or (0.14%) to 1.1498

    • $-¥ +0.03 or +0.02% to 159.38

    • €-¥ (0.19) or (0.10%) to 183.23

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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