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StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.47%, DAX +0.73%, CAC40 (0.14%)

Mar 27 ,2026

  • Synopsis

    • European indices are set to open mixed as Asia equities also trade mixed Friday. Japan's Topix and Greater China benchmarks turning positive alongside Singapore's STI and Thailand's SET. The Nikkei 225 is now flat and Australia's ASX just a few points lower.

    • US equities were lower in Thursday trading as stocks reversed earlier gains to end near session lows. Momentum and growth factors under pressure while value held up somewhat better but still sharply lower.

    • Recent crude weakness on diplomatic headlines based on hope end to conflict will unblock shipping. However, Iran determined to maintain grip over the waterway, making sovereignty a condition for peace deal and moving to charge tolls on ships - actions Arab states would consider unacceptable. President Trump revealed Iran's "present" to US was allowing passage of 10 Pakistani-flagged oil tankers through Hormuz, giving him confidence about negotiations.

    • In corporate news, Brown-Forman confirmed it is engaged in discussions with Pernod Ricard (BF.B)

    • In central banks, Bundesbank's Köhler-Geib panellist at 12noon CET at ZKF Baden-Baden. Norges Bank's Bech-Moen webinar (Teams link ) at 10:00CET on bank's latest interest rate decision. UK Feb car production - SMMT is due for release.

    • Economic data due today: UK Feb retail sales, Mar consumer confidence - GfK, Spain Mar preliminary CPI, Norway Feb retail sales, Denmark Feb unemployment rate, Portugal Feb retail sales.

    • Earnings reported so far this morning. (ESUN.SW) Edisun Power Europe reports FY net income (CHF7.1M) vs year-ago CHF2.9M. (IBAB.BB) Ion Beam Applications reports FY net income €12.7M vs FactSet €15.1M [2 est, €10.4-19.7M]; guides FY26. (ALATI.FP) Actia Group reports FY net income (€5.8M) vs FactSet (€10.6M). (JUN3.GR) Jungheinrich reports FY EBIT €448M ex-items vs FactSet €342.3M [11 est, €219.8-460.1M

  • Politics/Macro/World News

    • UAE Pushes For International Task Force To Reopen Hormuz (FT )

    • Oil Falls as Trump Extends Deadline Again for Iran to Make a Deal (BBG )

  • Top company news

    • Earnings/updates

      • DBV.FP (DBV Technologies) -- reports FY EPS ($1.05) vs FactSet ($1.31) [8 est, ($2.80)-(0.40)]; provides cash position & outlook, anticipated FY26 milestones

      • EVD.GR (CTS Eventim) -- reports Q4 revenue €930.9M vs FactSet €833.5M [3 est, €801.6-857.2M]

      • IBAB.BB (Ion Beam Applications) -- reports FY net income €12.7M vs FactSet €15.1M [2 est, €10.4-19.7M]; guides FY26

      • SOF.BB (Sofina) -- reports FY EPS €3.35 vs year-ago €40.89; announces retirement of Chairman Lancksweert, appoints Charlotte Strömberg as successor

      • NETC.DC (Netcompany Group) -- raises full-year margin guidance for 2026

      • FLOW.NA (Flow Traders) -- 1Q 2026 Pre-Close Call: Market trading volumes and volatility in Q1 across most asset classes and regions were relatively higher both y/y and q/q

      • CAI.AV (CA Immobilien Anlagen) -- reports FY FFO I per share €1.24 vs year-ago €1.23

      • ALCGM.FP (Cegedim) -- reports FY net income €9.4M vs FactSet €19.6M [3 est, €11.4-24.7M]

      • EXM.BB (Exmar NV) -- reports FY net income $74.3M vs year-ago $181.0M

      • SOL.SM (Soltec Power Holdings) -- reports FY net income attributable €12.7M vs year-ago (€205.8M)

    • M&A

      • NOVN.SW (Novartis) -- agrees to acquire Excellergy, Inc. for up to $2B in upfront and milestone payments

      • BF.B (Brown-Forman) -- confirms it is engaged in discussions with Pernod Ricard

      • GET.FP (Getlink) -- Eiffage acquires additional 1.74% of Getlink on market between 23-Mar and 26-Mar-26

      • ENAV.IM (ENAV) -- finalizes the acquisition of 85% of Aiview Group (post EU close 26-Mar)

      • AEM.GA (Alter Ego Media SA) -- Motor oil agrees to acquire a 33.4% stake in Antenna Greece Support Services from Antenna

      • AEIN.GR (Allgeier) -- reports prelim. FY adjusted EBITDA €50.4M vs FactSet €42.7M [4 est, €42-43.2M]; to divest publicplan GmbH; reaffirms 2026 guidance

    • Healthcare

      • NOVO.B.DC (Novo Nordisk) -- FDA approves Awiqli (insulin icodec-abae) injection 700 units/mL

      • GSK.LN (GSK Plc) -- Transcript Intelligence: GSK Plc at Goldman Sachs Biopharma Innovation Summit

      • GLPG.NA (Galapagos) -- board intends to appoint Gino Santini as Chair

      • DBV.FP (DBV Technologies) -- SEC filing: 10-K

      • NYXH.BB (Nyxoah) -- Transcript Intelligence: Nyxoah Non Deal Roadshow

      • PHARM.NA (Pharming Group) -- receives positive CHMP opinion for Joenja (leniolisib) for the treatment of APDS in adult and pediatric patients 12 years and older

      • MEDCL.FP (MedinCell) -- EIB Waives its Right to Cash Settlement on Medincell Warrants

      • DMP.GR (Dermapharm Holding) -- repurchases 4.3M shares under share buyback offer

      • AVCT.LN (Avacta Group) -- placing ~ 15M new shares at 63p/share via accelerated bookbuild through Zeus Capital

    • Other

      • GLEN.LN (Glencore) -- Glencore Canada responds to inaccurate information about ambient air arsenic concentrations in rouyn-noranda

      • HEXA.B.SS (Hexagon) -- Transcript Intelligence: Hexagon Investor Day - Octave

      • ISM (Indra Sistemas) -- RHEINMETALL and Indra group sign memorandum of understanding to strengthen their strategic partnership

      • HBR.LN (Harbour Energy) -- holder BASF placing ~60M shares via accelerate bookbuild through Morgan Stanley

      • LOOMIS.SS (Loomis) -- CFO Johan Wilsby has decided to step down from his role

      • FactSet Podcast - Evening Market Recap, 26-Mar

      • Venture Global and Edison announce settlement of Calcasieu Pass arbitration

  • Key rating changes

    • Upgrades

      • ISP.IM (Intesa Sanpaolo) upgraded to buy from neutral at Goldman Sachs

      • Macquarie upgrades A11.AU, ALL.LN, CIA.AU, others

      • BILL.SS (Billerud) -- to buy from hold at Pareto

      • MONY.LN (MONY Group) -- to buy from hold at Jefferies

      • SECU.B.SS (Securitas) -- to buy from hold at Pareto

      • SVS.LN (Savills) -- to buy from neutral at UBS

    • Downgrades

      • ELISA.FH (Elisa Oyj) downgraded to underweight from neutral at JPMorgan

      • BEI.GR (Beiersdorf) downgraded to neutral from buy at Goldman Sachs

      • SOL.IM (SOL) upgraded to buy from hold at Kepler Cheuvreux

      • BOL.SS (Boliden) -- to hold from buy at Deutsche Bank

      • EQT.SS (EQT AB) -- to underperform from neutral at Autonomous Research

      • BAMI.IM (Banco BPM) -- to neutral from buy at Goldman Sachs

    • Initiations

      • BMPS.IM (Banca Monte dei Paschi di Siena) -- buy at Goldman Sachs

      • BPE.IM (BPER Banca) -- neutral at Goldman Sachs

  • Data

    • Nikkei (0.43%) to 53373.07

    • Hang Seng +0.63% to 25011.79

    • Shanghai Composite +0.59% to 3912.20

    • S&P futures +33.5 vs prior close of 6525.0

    • €-$ +0.0006 or +0.05% to 1.1536

    • $-¥ (0.12) or (0.07%) to 159.69

    • €-¥ (0.01) or (0.01%) to 184.23

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