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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +1.85% to 10364.79, DAX +2.73% to 23298.89, CAC40 +2.10% to 7981.27, STOXX 600 +2.50% to 597.69

Apr 01 ,2026

  • Synopsis:

    • European equity markets ended firmly higher Wednesday, near best levels. Stocks building on Tuesday bounce. Easiest excuse seems to revolve around some combination of near-term Iran conflict offramp optimism and positioning. Oil on the defensive again, while rate stabilization has been a key bullish talking point this week. When it comes to concerns this may be just a tactical bounce, geopolitics still seen as the big overhang. This fits with wide gap in ceasefire demands, continued infrastructure threats from both sides and Iran's effective control of the Strait of Hormuz. Also concerns that the structural damage already done will keep the stagflation narrative in play. In Europe, BoE and ECB rate hike bets being unwound with market now implying just one rate hike this year from BoE and two from ECB.

    • On macro data front, in Europe final manufacturing PMIs for euro area revised up; remains at a 45-month high. Orders and production on the rise, but cost pressures increasing sharply. UK reading revised down. Germany's leading economic institute cut growth outlook and hike inflation projections, in line with media leaks on Tuesday. Eurozone unemployment rate unexpectedly increased in February update. UK Institute of Directors survey saw business confidence fall to record low. Meanwhile, UK Chancellor Reeves said government support on energy bills will be based on household income but played down immediate help.

    • On the corporate front, Berkeley Group (BKG.LN) shares fell heavily as its strategic update implies FY27-30 PBT guidance sharply below consensus. Berkeley said it does not believe it can make its required rate of return on investment in new land acquisitions, and is therefore not proposing to acquire new land while these conditions prevail, except through jv arrangements. Ferrexpo (FXPO.LN) delayed FY2025 results to before 30-Apr and warning of material negative consequences if Ukrainian VAT refund delays and funding issues persist. Stocks that moved higher on broker rating upgrades includes Babcock (BAB.LN) and Intesa Sanpaolo (ISP.IM)

    • Among European sectors, only energy closed lower; sector gainers were led by Industrials, Banks, Travel &Leisure and Tech.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Ind Goods & Svcs +4.29%, Banks +4.25%, Travel & Leisure +3.86%, Technology +3.63%, Construct & Mtls +3.35%, Basic Resources +3.13%, Retail +3.11%, Real Estate +2.89%, Financial Svcs +2.71%

      • Underperformers:

        • Oil & Gas (2.48%), Chemicals +0.25%, Food & Beverage +0.53%, Telecom +0.89%, Persnl & HHold Goods +1.38%, Media +1.72%, Health Care +1.82%, Insurance +1.87%, Utilities +1.95%, Autos & Parts +2.37%

    • Macro:

      • Geopolitics

        • UK to host coalition talks on securing Strait of Hormuz -- FT

      • Airlines

        • Ryanair warns of jet fuel supply disruption in May -- Sky News

      • Central banks

        • Bank of England's Bailey says markets still ahead of themselves in pricing rate hikes -- Reuters

        • BoE warns on multiple risks crystalizing at once -- link

        • Europe risks recession if oil jumps over $150, ECB's Stournaras says -- Reuters, citing Greek radio

      • Sweden

        • Swedish PM Ulf Kristersson opens door to governing with Sweden Democrats if his party wins vote -- Reuters

        • Government decides on the use of emergency stocks of oil - release

      • Germany

        • German institutes cut growth forecast as Iran war drives inflation higher -- Reuters

      • Ireland

        • Irish government announces grants to convert vacant buildings and above shop spaces into new homes -- link

    • Company news:

      • Notable Gainers

        • +12.0% NANO.FP (Nanobiotix €27.65, +3.10) -- FY earnings

        • +9.5% BAB.LN (Babcock International Group £12.19, +1.10) -- Citi upgrade; six-month bridging deal with UK MOD

        • +9.1% MAGI.SS (MAG Interactive SEK6.00, +0.50) -- Q2 earnings

        • +7.5% CPG.LN (Compass Group £28.81, +2.06) -- changes trading currency to USD

        • +6.4% IFCN.SW (Inficon Holding CHF106.40, +6.40) -- initiated overweight at JPMorgan

        • +6.3% BZU.IM (Buzzi SpA €45.52, +2.72) -- final FY earnings; Kepler Cheuvreux upgrade

        • +5.2% BEIA.B.SS (Beijer Alma SEK250.50, +12.50) -- Nordea upgrade

        • +5.0% LR.FP (Legrand €137.35, +6.65) -- two new bolt-on acquisitions in datacenters

        • +4.9% BCP.PL (Banco Comercial Portugues €0.86, +0.04) -- initiated buy at Kepler Cheuvreux

        • +4.4% ISP.IM (Intesa Sanpaolo €5.37, +0.23) -- Kepler Cheuvreux upgrade

        • +3.3% F3C.GR (SFC Energy €14.50, +0.46) -- ~C$3.5M follow-up order

        • +2.9% PDL.LN (Petra Diamonds £0.18, -0.00) -- Q3 trading update

        • +1.9% BAYN.GR (Bayer AG €39.81, +0.73) -- reportedly weighing US pharma expansion as turnaround picks up speed

      • Notable Decliners

        • -20.2% NWL.IM (NewPrinces €19.34, -4.20) -- FY earnings

        • -9.7% BKG.LN (Berkeley Group Holdings £28.40, -3.32) -- strategy and trading update

        • -8.3% VIRI.FP (Viridien €127.00, -11.20) -- Arctic Securities downgrade

        • -6.9% TPT.LN (Topps Tiles £0.33, -0.02) -- H1 trading update

        • -6.2% SWON.SW (SoftwareONE Holding CHF6.43, -0.44) -- holder Curti AG offers ~7m shares -- Bloomberg

        • -5.1% EQNR.NO (Equinor NOK392.00, -21.30) -- SEB downgrade

        • -3.2% SBO.AV (SBO AG €35.40, -1.15) -- Kepler Cheuvreux

        • -3.1% GALP.PL (Galp Energia SGPS €20.26, -0.66) -- JB Capital Markets downgrade

        • -2.2% DEQ.GR (Deutsche EuroShop €19.80, -0.45) -- FY earnings

        • -1.4% NDX1.GR (Nordex €44.18, -0.66) -- BofA downgrade

        • -0.9% FDE.FP (La Française de l'Energie €37.80, -0.35)

        • -0.3% ADJ.GR (ADLER Group €0.17, -0.00) -- FY earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Celyad Oncology (CYAD.BB)

        • DACHs: AEVIS VICTORIA (AEVS.SW), lastminute.com (LMN.SW)

        • France: GENFIT (GNFT.FP), Latecoere (LAT.FP)

        • Southern Europe: Infrastrutture Wireless Italiane (INW.IM)

  • Data:

    • Economics:

      • Mar Manufacturing PMI

        • UK 51.0 vs preliminary 51.4

        • Eurozone 51.6 vs prelim 51.4

        • Italy 51.3 vs cons 50.9 and prior 50.6

        • France 50.0 vs prelim 50.2

        • Germany 52.2 vs prelim 51.7

        • Sweden 56.3 vs cons 54.9 and prior revised 56.0 from 56.1

        • Spain 48.7 vs cons 50.4 and prior 50.0

        • Switzerland 53.3 vs cons 47.0 and prior 47.4

      • Feb Unemployment Rate

        • Eurozone 6.2% vs consensus 6.1% and prior 6.1%

        • Italy 5.3% vs cons 5.3% and prior 5.1%

        • Greece 8.5% vs consensus 7.6% and prior revised 7.9% from 7.7%

      • Switzerland Feb Retail Sales +0.9% y/y vs cons +0.9% and prior revised (0.6%) from (1.1%)

    • Markets:

      • WTI Crude (May 26): ($1.56) or (1.54%) to $99.82

      • €-$ +0.0056 or +0.48% to 1.1610

      • £-$ +0.0097 or +0.73% to 1.3324

      • €-£ (0.0022) to 0.8714

      • S&P 500 +0.98%

      • Performance year-to-date

        • FTSE 100: +4.36%

        • DAX: (4.87%)

        • CAC: (2.06%)

        • MIB: +1.71%

        • Stoxx 600: +0.93%

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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