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StreetAccount Summary - EU Market Recap: FTSE 100 (0.94%) to 10305.29, DAX (0.96%) to 23502.25, CAC40 (0.06%) to 7969.88, STOXX 600 (0.75%) to 597.93

Mar 18 ,2026

  • Synopsis:

    • European indices ended in negative territory, except for Norway and Spain. Oil developments in focus again: Iran said the US, Israel struck the South Pars gas field on Wednesday, which would mark the first time the US and Israel have targeted Iran's upstream oil and gas facilities since start of war. Oil prices rallied after the strike as it puts more focus on risk of further energy disruptions. Iran responded by saying some Gulf energy sites now targets, including some in Saudi Arabia, UAE, and Qatar. Related, President Trump is considering a military operation to seize or destroy Iran's near-bomb-grade nuclear material. Noted that the operation would be highly complex and risky, with Secretary of State Rubio recently saying that such an operation would require commando force sent to get it. The US also bombed Iranian missile sites along Strait of Hormuz Wednesday, with officials saying that the Iranian missile installations posed a risk to international shipping

    • In Europe, leaders have undergone striking shift from equivocation to outright refusing to partake in Iran conflict. German Chancellor Merz, France's Macron and Greece, Norway, Poland and Canada echoed the same message. Trump called it a very foolish mistake but notably stopped short of threatening retaliation, with the exception of Spain. White House, privately acknowledging diplomatic reality, has since lowered its ask - urging allies merely to issue supportive public statements rather than commit ships. Episode reveals important evolution in European strategic thinking. Leaders have concluded appeasing Trump - as they did over NATO spending and tariffs - yields little return. Instead, European focus is firmly on economic fallout: energy prices, food supply disruptions and inflation. Next focal point may be tomorrow's EU summit in Brussels where the Iran war will dominate the agenda

    • On a light macro-front, Eurozone final CPI unchanged from flash at 1.9% y/y, but no implications for market amid recent jump in energy prices

    • In earnings news, DACHs names kicked off the session with HelloFresh (HFG.GR), TAG Immobilien (TEG.GR), Stadler Rail (SRAIL.SW), Semperit Holding (SEM.AV), and Verbund (VER.AV) reporting earnings. In France, Valneva (VLA.FP) and Exail Technologies (EXA.FP) issued FY earnings. In the UK, Softcat (SCT.LN), Ithaca Energy (ITH.LN) and Prudential (PRU.LN) are among others in the region to update investors with their latest numbers. In M&A news, wires reported that Unilever (ULVR.LN) is contemplating the potential separation/spin-off of its food business in a streamlining effort. The article goes on to note that the business would likely be valued at tens of billions of dollars in a deal, with the assets also potentially drawing interest from potential buyers

    • Looking ahead to tomorrow's calendars, Vonovia (VNA.GR), FORVIA HELLA (HLE.GR), Rational (RAA.GR), United Internet (UTDI.GR), Lenzing (LNZ.AV), SBO (SBO.AV) Lanxess (LXS.GR), Compagnie Chargeurs Invest (CRI.FP), IG Group Holdings (IGG.LN) and Gulf Keystone Petroleum (GKP.LN) will be among few other companies updating investors

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers: Banks +0.84%, Oil & Gas +0.38%, Ind Goods & Svcs +0.29%, Travel & Leisure (0.00%), Construct & Mtls (0.11%), Real Estate (0.40%), Retail (0.44%), Autos & Parts (0.60%)

      • Underperformers: Food & Beverage (2.70%), Utilities (2.11%), Health Care (1.86%), Telecom (1.78%), Persnl & HHold Goods (1.63%), Technology (1.50%), Media (1.47%), Chemicals (1.11%), Financial Svcs (1.04%), Basic Resources (0.97%), Insurance (0.85%)

    • Macro:

      • Iran's Threats to Gulf Facilities Push Up Energy Prices (BBG)

      • Iran says nuclear doctrine unlikely to change, Hormuz Strait needs new protocol (Reuters)

      • Macron and Merz to discuss FCAS as pressure grows on Europe's flagship fighter project (EU Today)

      • Germany's foreign minister warns Iran war could plunge 'entire world into major crisis (Politico)

      • Fuel: Italy's Salvini: excise duty cuts tonight at the Cabinet meeting (AGI)

      • Meloni's big gamble (FT)

      • Damaged Russian LNG tanker has reached Libyan waters, Italy says (Retuers)

    • Company news:

      • Notable Gainers

        • +23.9% SEM.AV (Semperit Holding €14.86, +2.86) -- FY earnings

        • +17.9% DPLM.LN (Diploma £59.45, +9.00) -- upgrades FY26 guidance

        • +17.6% IQE.LN (IQE £0.25, +0.04)

        • +14.6% BIOVIC.B.SS (Biovica International SEK0.41, +0.05) -- Q3 earnings, AACR poster presentations

        • +11.6% BOL.FP (Bolloré €4.87, +0.51) -- FY earnings

        • +11.2% SRAIL.SW (Stadler Rail CHF20.02, +2.02) -- FY earnings

        • +9.2% SCT.LN (Softcat £12.58, +1.06) -- H1 earnings

        • +8.3% PBB.GR (Deutsche Pfandbriefbank €2.99, +0.23)

        • +6.4% EQUI.IM (Equita Group €5.65, +0.34) -- acquires Xenon Private Equity for €70M

        • +5.3% EXA.FP (Exail Technologies €142.00, +7.20) -- FY earnings

        • +5.2% VIRP.FP (Virbac €351.00, +17.50) -- FY earnings

        • +4.7% ATORX.SS (Alligator Bioscience SEK0.20, +0.01) -- study data

        • +4.5% FIE.GR (Fielmann Group €44.55, +1.90)

        • +4.2% BSL.GR (Basler €15.22, +0.62)

        • +3.9% FVA.LN (Fevara £1.34, +0.05) -- acquires production facility in Brazil

        • +3.5% A1OS.GR (All for One Group €35.50, +1.20) -- apsolut Group acquisition update

        • +3.5% MAVI.E.TI (Mavi Giyim Sanayi ve Ticaret TRY44.40, +1.52) -- FY earnings

        • +3.3% A5G.ID (AIB Group €9.23, +0.30) -- EU planning to adopt legislation that negates increase in bank capital requirements to counteract short-term impact of FRTB - FT

        • +3.1% GENL.LN (Genel Energy £0.56, +0.02) -- FY earnings

        • +3.1% GLE.FP (Societe Generale €67.48, +2.02) -- EU planning to adopt legislation that negates increase in bank capital requirements to counteract short-term impact of FRTB - FT

        • +3.1% TEG.GR (TAG Immobilien €14.15, +0.43) -- FY earnings

        • +2.9% KOG.NO (Kongsberg Gruppen NOK419.70, +11.70) -- NOK 2B order

        • +2.1% FLS.DC (FLSmidth & Co. DKK496.00, +10.40) -- JV in Uzbekistan

        • +1.8% BNP.FP (BNP Paribas €87.34, +1.56) -- EU planning to adopt legislation that negates increase in bank capital requirements to counteract short-term impact of FRTB - FT

        • +1.8% CANTA.SS (Cantargia SEK3.90, +0.07) -- Keystone data presentation

        • +1.8% CBK.GR (Commerzbank €33.19, +0.59) -- EU planning to adopt legislation that negates increase in bank capital requirements to counteract short-term impact of FRTB - FT

        • +1.7% BICO.SS (BICO Group SEK17.12, +0.28) -- SEK1.01B convertible bonds settle in full

        • +0.4% AMS.LN (Advanced Medical Solutions Group £1.97, +0.01) -- FY earnings

        • +0.3% AKSO.NO (Aker Solutions NOK41.34, +0.14) -- proposes NOK 5.00 extraordinary dividend

      • Notable Decliners

        • -14.8% HFG.GR (HelloFresh €3.92, -0.67) -- Q4 earnings

        • -12.0% GEMD.LN (Gem Diamonds £0.04, -0.01) -- FY earnings

        • -11.6% ACE.IM (ACEA €22.04, -2.88) -- holder SUEZ International sell ~8.5M ordinary shares (~4.0% share capital) at price of €23.00/sh

        • -9.6% ONCO.SS (Oncopeptides SEK1.52, -0.16) -- results of ~SEK 200M rights issue

        • -9.0% GXI.GR (Gerresheimer €17.80, -1.75)

        • -7.6% IMM.LN (ImmuPharma £0.05, -0.00)

        • -6.8% GN.DC (GN Store Nord DKK98.00, -7.20)

        • -5.4% SKIS.B.SS (SkiStar SEK163.50, -9.20) -- Q2 earnings

        • -3.7% FDM.LN (FDM Group (Holdings) £1.16, -0.05) -- FY earnings

        • -3.0% ENSU.NO (Ensurge Micropower NOK0.64, -0.02) -- US OTC market termination of trading

        • -2.7% PRU.LN (Prudential £10.65, -0.30) -- FY earnings

        • -2.1% REL.LN (RELX £25.76, -0.54) -- offers 24M shares via Goldman Sachs -- Reuters

        • -1.5% VER.AV (Verbund €65.75, -1.00) -- FY earnings

        • -0.5% EVOK.LN (Evoke Plc £0.27, -0.00) -- trading update

        • -0.2% MRN.FP (Mersen €24.35, -0.05) -- FY earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: Lenzing (LNZ.AV), SBO (SBO.AV)

        • Benelux: Titan S.A. (TITC.BB), Nyxoah (NYXH.BB)

        • Germany: Vonovia (VNA.GR), FORVIA HELLA (HLE.GR), Rational (RAA.GR), United Internet (UTDI.GR), OHB (OHB.GR), 1&1 AG (1U1.GR), IONOS Group (IOS.GR), Lanxess (LXS.GR), Paul Hartmann (PHH2.GR), ProCredit Holding (PCZ.GR),Villeroy & Boch (VIB3.GR), HomeToGo (HTG.GR), DEMIRE Deutsche Mittelstand Real Estate (DMRE.GR), Vossloh (VOS.GR), PVA Tepla (TPE.GR), SAF-Holland (SFQ.GR), Elmos Semiconductor (ELG.GR), SGL Carbon (SGL.GR), Ottobock (OBCK.GR), Knorr-Bremse (KBX.GR), Exasol (EXL.GR)

        • France: Compagnie Chargeurs Invest (CRI.FP), HDF Energy (HDF.FP)

        • Nordics: Fluegger Group (FLUG.B.DC)

        • Southern Europe: Public Power Corp. (PPC.GA), Sonae SGPS (SON.PL), Technogym (TGYM.IM), Arnoldo Mondadori Editore (MN.IM), FNM (FNM.IM)

        • Switzerland: Swissquote Group Holding (SQN.SW), DocMorris (DOCM.SW),

        • UK: IG Group Holdings (IGG.LN), Energean (ENOG.LN), Atalaya Mining (ATYM.LN), Gulf Keystone Petroleum (GKP.LN), DFS Furniture (DFS.LN), Central Asia Metals (CAML.LN), Eurocell (ECEL.LN)

      • Trading Update:

        • Nordics: Borregaard (BRG.NO)

      • CMD/Events: Eni (ENI.IM) strategic plan 2026-29, Carl Zeiss Meditec (AFX.GR), Ratos (RATO.B.SS), Coor Service Management (COOR.SS), BHG Group (BHG.SS), Talenom (TNOM.FH):

    • Macro-economic data expected for tomorrow:

      • Switzerland Feb trade balance (monthly watch data), UK Feb claimant count change, Jan unemployment rate, Netherlands Feb unemployment rate and Eurozone Jan construction output

  • Data:

    • Economics:

      • Eurozone Feb CPI +1.9% y/y vs preliminary +1.9%

      • Portugal Feb PPI (3.5%) y/y vs consensus (2.0%) and prior (2.1%

      • Austria Feb CPI +2.2% y/y vs prelim +2.2%; +0.8% m/m vs prelim +0.8%

    • Markets:

      • WTI Crude (Apr 26): +$1.72 or +1.79% to $97.93

      • €-$ (0.0030) or (0.26%) to 1.1512

      • £-$ (0.0031) or (0.23%) to 1.3324

      • €-£ (0.0003) to 0.8638

      • S&P 500 (0.62%)

      • Performance year-to-date

        • FTSE 100: +3.76%

        • DAX: (4.03%)

        • CAC: (2.20%)

        • MIB: (0.45%)

        • Stoxx 600: +0.97%

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