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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE (0.3%), DAX (0.6%), CAC (0.3%), IBEX (0.6%), MIB (0.3%)

Mar 30 ,2026

  • Synopsis

    • European equity markets set to open broadly lower, after mixed closes last week in a volatile week of trade with the conflict in the Middle East continuing to influence sentiment. Crude higher Monday morning but off earlier highs. WTI Crude (May 26) currently +1.69% to $101.32. Gold and silver have swung positive following earlier drop. Gold (Apr 26): +$16.80 or +0.37% to $4509.30.

    • Asian equities mostly lower Monday. Tech-heavy benchmarks in Japan, South Korea and Taiwan seeing biggest losses, though all off worst levels. Hong Kong leading China market declines. Asian countries stepping up efforts to defend currencies following sustained weakness amid Iran war, Japan FX intervention chatter picking up after yen fell below 160-dollar for first time in 20 months on Friday. FX chief Mimura flagged "decisive action" if current conditions continue (his first use of that phrase since assuming role in Jul-2024), echoing Finance Minister Katayama's comments last week about "bold action". Late Friday RBI imposed cap on open FX positions banks can hold in onshore market, aimed at forcing unwind of short positions.

    • Speaking to reporters on Sunday President Trump said Iran agreed to most of 15-point plan though without specifying which ones (Bloomberg). In FT interview, Trump deal to end conflict could be made quickly with talks progressing well. Praised professional manner of Iran's negotiators, claiming influential parliamentary speaker Mohammad Bagher Ghalibaf was who authorized additional tankers through Strait of Hormuz and agreed to doubled number of permitted ships to 20 from 10. His remarks come as Pakistan expressed readiness to host peace talks after Islamabad conferred discussions with Saudi Arabia, Egypt and Turkey about ways to end conflict (Reuters, Bloomberg). However, still no confirmation US and Iran have agreed to meet with Tehran having publicly rejected US peace conditions and IRGC issuing their own separate demands. Risk of conflict widening after Houthis fired ballistic missiles at Israel, raising concerns about threat to Red Sea chokepoint Bab el-Mandeb Strait, and Saudi Arabia's Yanbu port, where crude flows have been ramping up (FT). More reports about potential US troop deployment to capture Kharg Island, Hormuz shoreline or seize uranium stockpiles (Washington Post), link). Iran said ready to respond to any incursion.

    • European macro data releases out today include Germany Mar preliminary CPI, Italy Feb PPI, Spain Feb retail sales, Switzerland Mar leading indicator - KOF, UK Feb mortgage approvals, M4 money supply, Eurozone Mar economic/service sentiment, Netherlands Feb PPI, Sweden Feb retail sales, Belgium Mar CPI, Feb PPI, Austria Feb PPI, Ireland Mar preliminary HICP

    • In central banks, the first of pre-release at 10:00CET in connection with latest ECB Economic Bulletin. Bank of Spain publishes its Annual Accounts.

    • In politics, Chancellor Merz hosts Syrian President Ahmed Al-Sharaa. A joint press conf will follow the talks and planned lunch. EU's Dombrovskis participates in the joint G7 energy ministers and G7 finance ministers and central bank governors' meeting whilst EU's Commissioner for climate, net-zero and clean growth, Hoekstra, will be in Rome (through Wed), to discuss the EU's clean transition and competitiveness with government representatives. In Germany, health minister holds press conf at 14:00CET on recommendations for the financial stabilization of statutory health insurance funds. Economist Conf Romania Government Roundtable: South-east Europe's next leap forward (through Wed) speakers include Romania central bank's Isărescu and Greece central bank's Stournaras at 18:20CET, former PM of Italy Letta at 19:20CET.

  • Politics/Macro/World News

    • Eurozone borrowing costs soar on fears of fiscal hit from Iran shock -- FT

    • UK PM Starmer to meet senior bosses from energy, shipping and financial services later about impact of the Iran war on the UK economy -- BBC

    • French Factory Closures Jump 30% on Asia Pressure, US Tariffs -- Bloomberg

    • France unveils aid to shield key sectors from soaring fuel prices -- France24

    • France Seeks EU Fertilizer Carbon Tax Pause as War Raises Prices -- Bloomberg

    • Villeroy: "Economy and markets increasingly Uncertain. ECB will raise interest rates if necessary" -- La Stampa

  • Top company news

    • Earnings/updates

      • CPI.AV (CPI Europe) -- reports FY EBIT €710.3M, +69% vs year-ago €419.4M

      • BYLOT.GA (Bally's Intralot) -- postpones publication of its financial results for the 2025 fiscal year to 20-Apr; cites extra audit procedures; preliminary results unchanged

      • PARRO.FP (Parrot) -- reports FY net income (€15.0M) vs FactSet (€17.2M) [1 est]

      • PARRO.FP (Parrot) -- Follow-up: Parrot comments on 2026 outlook in earnings release

      • PHIL.IM (Philogen) -- reports FY net income €229.7M vs FactSet €253.2M [3 est, €225.5-291.8M]

      • TFIN.IM (Trevi-Finanziaria Industriale) -- reports FY net income €8.1M vs FactSet €11.7M [2 est, €7.8-15.5M]; presents 2026-2029 Business Plan; financing package approved

      • Also reporting today

        • Earnings:

          • DACHs: secunet Security Networks (YSN.GR), SÜSS MicroTec (SMHN.GR), q.beyond (QBY.GR)

          • France: Inventiva (IVA.FP), Sidetrade (ALBFR.FP), Solutions 30 (S30.FP), Aelis Farma (AELIS.FP)

          • Nordics: WithSecure (WITH.FH)

          • Southern Europe: NewPrinces (NWL.IM)

          • UK: RTW Biotech Opportunities (RTW.LN)

        • CMD/Events: Thule Group (THULE.SS) investor update

    • M&A

      • SNR.LN (Senior) -- Blackstone in advanced talks for Senior - FT

      • RBI.AV (Raiffeisen Bank International) -- subsidiary reaches agreement to acquire 100% of the shares in Garanti BBVA Group Romania for €591M

      • KDP (Keurig Dr Pepper) -- declares offer for JDE Peet's unconditional; settlement to take place 1-Apr-26

      • AAL.LN (Anglo American) -- short-lists three parties for Queensland coal portfolio sale process - The Australian

      • BKT.SM (Bankinter) -- merging its alternative investment management subsidiary with Plenium Partners; also acquires Alantra's (plus minority partners) stakes in Access Capital Partners Group

      • RRTL.GR (RTL Group) -- reportedly to offer remedies and is likely to win early EU antitrust approval for acquisition of Sky Deutschland - Reuters

      • CEC.GR (CECONOMY) -- confirms uncertainty regarding FDI clearance in Austria in connection with ongoing public takeover process with JD.com

      • SPA.LN (1Spatial) -- VertiGIS enters into long form financing with Sixth Street Specialty Lending Europe III Advisors in connection with offer for 1Spatial

      • Four bidders remain in contest for Made Group - Australian Financial Review

    • Healthcare

      • BMY (Bristol Myers Squibb) -- announces data from a Phase 4 clinical trial evaluating the symptom stability, safety and tolerability of Cobenf

      • NOVN.SW (Novartis) -- presents, publishes final two-year results from APPLAUSE-IgAN study of Fabhalta

      • SAN.FP (Sanofi) -- announces new results from amlitelimab phase 3 studies in atopic dermatitis

      • ROG.SW (Roche Holding) -- Roche launches new 4-in-1 donor screening test cobas MPX-E assay

      • ARQT (Arcutis Biotherapeutics) -- new phase 2 results in infants with atopic dermatitis in late-breaking session today at the AAD Annual meeting

      • GALD.SW (Galderma Group) -- announces new phase II data on nemolizumab which demonstrates clinically meaningful benefits for children aged 2 to 11 with moderate-to-severe atopic dermatitis

      • TECN.SW (Tecan Group) -- appoints Camila Japur CFO, effective 1-Jun

      • IDIA.SW (Idorsia) -- reports positive Phase 2 results for daridorexant in pediatric insomnia, demonstrating dose-dependent efficacy across 10-50 mg range

      • 524715.IN (Sun Pharmaceutical Industries) -- informs of updates on Fibromun and Nidlegy by Philogen

      • EGTX.SS (Egetis Therapeutics) -- announces FDA acceptance and priority review of NDA for Emcitate (tiratricol) for MCT8 deficiency

      • VVY.NA (Vivoryon Therapeutics) -- provides update on growing body of evidence validating Glutaminyl Cyclases as promising targets in DKD at WCN

    • Other

      • TIT.IM (Telecom Italia) -- to terminate MSA with Inwit in August 2030 at latest

      • AENA.SM (Aena S.M.E.) -- issues commentary regarding the agreements reached on airport matters at the meeting of the Bilateral Cooperation Commission between the Spanish Government and the Basque Country

      • PRX.NA (Prosus) -- seeking to increase annual order growth at Just Eat Takeaway to 20% before 2030 - FT, citing CEO

      • INW.IM (Infrastrutture Wireless Italiane) -- states MSA with TIM valid until 2038 and termination notice has no legal grounds

      • ENG.SM (Enagas) -- Quick Take - Enagas shares close up ~17%; better-than-expected regulatory proposal for gas transmission cited

      • BUR.LN (Burford Capital) -- Follow-up: Burford Capital issues statement re YPF matter

      • BUR.LN (Burford Capital) -- issues statement on the opinion issued by the United States Court of Appeals for the Second Circuit in the YPF appeal decision

      • ATO.FP (ATOS SE) -- announces decision of the US District Court for the Southern District of New York in the TriZetto re-trial

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- TGS announces a multi-year strategic agreement; selects Amazon Web Services as its preferred cloud provider

      • CO.FP (Casino Guichard-Perrachon) -- Group Casino announces repayments confirmation to Quatrim secured bondholders

      • CO.FP (Casino Guichard-Perrachon) -- announces extension of consents from creditors and of the maturity of the operational financings

      • FII.FP (Lisi) -- appoints Benoît Heubert as COO

      • Estimated weekend box office revenues in US, Canada $95.9M, +23.5% y/y - Box Office Mojo

      • Italian PM Giorgia Meloni may change leadership at state-owned companies - Bloomberg

      • Rivian receives additional $1B in equity and convertible debt from Volkswagen following successful completion of winter testing of its production-intent zonal architecture - techcrunch

      • White House in talks to buy back leases from offshore wind developers - Bloomberg

  • Key rating changes

    • Upgrades

      • Goldman Sachs upgrades LAND.LN, LI.FP

      • Van Lanschot Kempen upgrades SAGA.B.SS, SGRO.LN

      • CPG.LN (Compass Group) -- to neutral from underperform at BNP Paribas Exane

      • DIM.FP (Sartorius Stedim Biotech) -- to buy from neutral at Goldman Sachs

      • ENG.SM (Enagas) -- to hold from sell at Deutsche Bank

      • SFER.IM (Salvatore Ferragamo) -- to outperform from underperform at Bernstein

      • SW.FP (Sodexo) -- to buy from hold at Jefferies

      • NOKIA.FH (Nokia) -- to neutral from sell at Goldman Sachs

      • ORSTED.DC (Ørsted) -- to buy from neutral at BofA

      • BRK.LN (Brooks MacDonald Group) -- to buy from hold at Shore Capital Stockbrokers

    • Downgrades

      • Goldman Sachs downgrades BYG.LN; others

      • RDC.GR (Redcare Pharmacy) -- to hold from buy at Kepler Cheuvreux

      • HTRO.SS (Hexatronic Group) -- to hold from buy at SEB

      • ELUX.B.SS (Electrolux) -- to underperform from buy at BofA

    • Initiations

      • EKTA.B.SS (Elekta) -- buy at Pareto

      • DIA.SM (Distribuidora Internacional De Alimentacion) -- outperform at Oddo

  • Data

    • Nikkei (3.26%) to 51634.66

    • Hang Seng (1.06%) to 24687.96

    • Shanghai Composite +0.18% to 3920.65

    • S&P futures +2.5 vs prior close of 6412.3

    • €-$ +0.0011 or +0.10% to 1.1515

    • $-¥ (0.49) or (0.31%) to 159.68

    • €-¥ (0.41) or (0.22%) to 183.89

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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