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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.55% to 10317.69, DAX +0.50% to 23564.01, CAC40 +0.31% to 7935.97, STOXX 600 +0.44% to 598.47

Mar 16 ,2026

  • Synopsis:

    • European equity markets closed higher and near the session's best levels. Real estate, energy and insurance outperformed whilst autos, media and utilities lagged. Follows last week's volatile trade, which saw benchmark Stoxx 600 end 0.5% lower.

    • Iran conflict enters third week with concerns still largely on energy supply disruptions. UK PM Starmer rejected Trump's call to help reopen the Strait repeating he'll not be drawn into a "wider war" over Iran and is "working with allies" on a viable plan to reopen the Strait of Hormuz. UK considering sending mine-hunting drones but not prepared to send any warships. Prospect of a ceasefire uncertain after Trump said Iran negotiating but terms not to his liking. US and Israel also see war extending few more weeks.

    • On the political front, IEA Executive Director Dr Fatih Birol will provide an update on the latest developments in the IEA's emergency release of oil stocks and the next steps. meetings of EU foreign and energy ministers, EU's Šefčovič, Lahbib participate in the former and Jørgensen in the latter. There are political discussions in Brussels on the further development of the EU's climate and environmental policy. Chancellor Merz is hosting Netherland's new PM Jetten. A joint press conf. is planned after the meeting. Norway's minister of fisheries and oceans Næss continues visit to Washington and Boston (through Tue). The 7th EU-UK Parliamentary Partnership Assembly (draft agenda, through Tue). A security summit over the weekend including the leaders from the Nordic counties and Canada resulted in deepened cooperation in various areas.

    • Macro data releases were limited. In the UK, Rightmove says the number of homes for sale at this time of year remains at its highest level for 11 years. This is limiting price growth. Market is steady so far despite the new global uncertainty created by the Iran war. However, it's too early to see the full impact of this.

    • In central banks, Latvia central bank's Brikše gave an interview to LTV's 'Morning Panorama' whilst Bundesbank's Köhler-Geib was in discussion at OECD event title 'Future of Finance'.

    • Earnings/updates included from Marshalls (MSLH.LN) reported FY adj. EPS 13.4p vs FactSet 12.6p [7 est, 12.0-13.0p], and Hypoport (HYQ.GR) reports FY revenue, gross profit and EBIT in line with prelims, guides 2026.

    • M&A in focus; after months of speculation UniCredit (UCG.IM) launched a voluntary exchange offer to exceed 30% stake threshold in Commerzbank (CBK.GR), whilst Amplifon (AMP.IM) acquired the Hearing business of GN Store Nord (GN.DC) for €1.69B in cash and 56M Amplifon shares.

    • On the reporting front, Hypoport (HYQ.GR), Tecan Group (TECN.SW) and Marshalls (MSLH.LN) were among few other names to post their latest earnings. Elsewhere, Novartis (NOVN.SW) announces a new share buyback, Kinnevik (KINV.B.SS) CEO Georgi Ganev to leave with immediate effect, EssilorLuxottica (EL.FP) strengthened the partnership with Dolce&Gabbana through 2050 and TotalEnergies (TTE.FP) releases impact of Middle East Conflict on its activities.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Real Estate +1.56%, Oil & Gas +1.15%, Insurance +0.98%, Banks +0.72%, Persnl & HHold Goods +0.70%, Construct & Mtls +0.59%, Telecom +0.47%

      • Underperformers:

        • Autos & Parts (1.24%), Media (0.34%), Utilities (0.26%), Chemicals (0.14%), Food & Beverage (0.12%), Travel & Leisure +0.08%, Basic Resources +0.17%, Retail +0.20%, Technology +0.27%, Health Care +0.30%, Ind Goods & Svcs +0.30%, Financial Svcs +0.35%

    • Macro:

      • Geopolitics:

        • UK refuses to send warships to Strait of Hormuz despite Trump call, opts for limited aid on energy crisis (Telegraph)

        • Trump rejects Iran ceasefire deal as 'not good enough,' hints at more strikes on Kharg Island (Independent)

        • Trump warns NATO allies of consequences for not aiding US in Iran conflict (FT)

        • Canada deepens cooperation with Nordic countries in defence, Arctic security, and critical minerals - Canadian government press release

      • UK:

        • UK PM Starmer announces £53M of "targeted" support to help low-income households in rural communities with heating oil costs - BBC

        • UK Chancellor Reeves to outline vision for reset in EU relations in a keynote on Tue - Telegraph, London Times

        • BOE is widely expected to leave key rate unchanged on Thu, with policy makers to remain cautious on the outlook - Bloomberg

        • UK's Office for National Statistics (ONS) releases annual update to weight for the Consumer Prices Index (CPI) to reflect changes in household spending patterns - release, CPI basket of goods and services - release

        • Government sets out its vision for developing a commercial fusion industry in the UK - release

      • France:

        • Political polarisation now firmly taking root at France's local level; elections set stage for runoff alliances in major cities - Politico

      • Spain:

        • Spain's conservative opposition Popular Party won another regional election - Euractiv

      • Sovereign credit rating reviews after the close Fri included:

        • Norway AAA reaffirmed, stable trend - DBRS

        • Cyprus A reaffirmed, stable trend - DBRS

        • Ireland AA reaffirmed, stable trend - DBRS

        • Spain A reaffirmed, outlook stable - Fitch

        • Italy BBB+ reaffirmed, outlook stable - Fitch

        • Moody's Ratings announces completion of a periodic review of ratings of Germany and Greece

        • S&P Global Ratings has performed annual reviews of the credit ratings of Spain

        • Scope has completed a monitoring review for Austria, Netherlands, Spain, UK; resulted in no rating actions.

    • Company news:

      • Notable Gainers

        • +21.2% GN.DC (GN Store Nord DKK105.30, +18.40) -- sells hearing business for €1.69B in cash and 56M Amplifon shares, ~DKK 17.0B; updates FY26 guidance

          • -14.2% AMP.IM (Amplifon €9.03, -1.49)

        • +12.4% OKEA.NO (Okea NOK36.35, +4.00) -- DNB Carnegie upgrade

        • +9.0% CBK.GR (Commerzbank €32.24, +2.65) -- Uncredit exchange offer at 0.485 shares of UCG per share of Commerzbank

        • +8.1% SOI.FP (SOITEC €63.76, +4.76)

        • +6.6% ETL.FP (Eutelsat Communications €2.09, +0.13)

        • +6.2% NOD.NO (Nordic Semiconductor NOK158.10, +9.20) -- read-across from Silicon Labs' PREM14A filing cited

        • +5.8% DNO.NO (DNO ASA NOK17.93, +0.98) -- non-cash swap of Norwegian Continental Shelf assets with Equinor Energy AS

        • +4.8% HMSO.LN (Hammerson £3.31, +0.15) -- Morgan Stanley upgrade

        • +4.0% BAYN.GR (Bayer AG €40.19, +1.56) -- Phase III FIND-CKD study results; UBS upgrade

        • +3.8% TIG.LN (Team Internet Group £0.41, +0.02) -- FY trading update

        • +3.7% SVS.LN (Savills £9.35, +0.33) -- Peel Hunt upgrade

        • +3.4% MRL.SM (MERLIN Properties SOCIMI €13.87, +0.46) -- Morgan Stanley upgrade

        • +2.8% EQNR.NO (Equinor NOK348.30, +9.40) -- non-cash swap of Norwegian Continental Shelf assets with Equinor Energy AS

        • +2.5% ELUX.B.SS (Electrolux SEK62.28, +1.50) -- Dagens Industri out with buy recommendation

        • +1.4% RBREW.DC (Royal Unibrew DKK580.00, +8.00) -- Berenberg upgrade

      • Notable Decliners

        • -13.8% IDIA.SW (Idorsia CHF2.93, -0.47) -- CEO steps down

        • -13.6% CBG.LN (Close Brothers Group £3.59, -0.57) -- trading lower after Viceroy Research discloses short position and report

        • -10.2% OCI.NA (OCI NV €3.37, -0.38) -- FY earnings

        • -8.4% ALBPS.FP (Biophytis €0.03, -0.00)

        • -5.8% B2I.NO (B2 Impact NOK23.50, -1.45) -- holder Rasmussengruppen sells 17.4M shares

        • -5.1% INRN.SW (Interroll Holding CHF1,578.00, -84.00)

        • -3.9% AUTN.SW (Autoneum Holding CHF112.60, -4.60)

        • -3.4% TECN.SW (Tecan Group CHF117.40, -4.10) -- FY earnings

        • -2.8% SOON.SW (Sonova Holding CHF188.60, -5.50)

        • -2.2% ELN.IM (El.En. €12.41, -0.28) -- FY earnings

        • -1.8% GRG.LN (Greggs £16.20, -0.29) -- Goodbody Stockbrokers downgrade

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Fraport (FRA.GR), Springer Nature (SPG.GR), Mensch & Maschine Software (MUM.GR), Dermapharm (SMP.GR), Mayr-Melnhof Karton (MMK.AV), Medartis Holding (MED.SW)

        • France: Bolloré (BOL.FP), Virbac (VIRP.FP)

        • Southern Europe: A2A (A2A.IM), Moltiply Group (MOL.IM), Pharmanutra (PHN.IM)

        • UK: Prudential (PRU.LN), Primary Health Properties (PHP.LN), Trustpilot Group (TRST.LN), Harworth Group (HWG.LN), BOKU (BOKU.LN), IP Group (IPO.LN), Mortgage Advice Bureau (MAB1.LN), Ashtead Technology Holdings (AT.LN), Yu Group (YU.LN), Essentra (ESNT.LN), Science Group (SAG.LN), Fintel (FNTL.LN), Zotefoams (ZTF.LN), Midwich Group (MIDW.LN), Eagle Eye Solutions Group (EYE.LN), The Pebble Group (PEBB.LN), STV Group (STVG.LN)

        • Other: Mavi Giyim Sanayi ve Ticaret (MAVI.E.TI)

      • Trading Update:

        • UK: Sthree (STEM.LN)

      • Traffic: VINCI (DG.FP)

      • CMD/Events: Attendo (ATT.SS), Kojamo (KOJAMO.FH)

  • Data:

    • Economics:

      • Norway Feb trade balance NOK44.8B vs consensus NOK65.4B, prior NOK75.9B

      • UK Mar house price index (0.2%) y/y vs prior 0.0%; +0.8% m/m vs prior 0.0% - Rightmove

    • Markets:

      • WTI Crude (Apr 26): ($2.54) or (2.57%) to $96.17

      • €-$ +0.0059 or +0.52% to 1.1484

      • £-$ +0.0052 or +0.40% to 1.3293

      • €-£ +0.0009 to 0.8639

      • S&P 500 +0.82%

      • Performance year-to-date

        • FTSE 100: +3.89%

        • DAX: (3.78%)

        • CAC: (2.62%)

        • MIB: (1.33%)

        • Stoxx 600: +1.06%

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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