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StreetAccount Summary - Europe Pre-Open: Futures FTSE +1.00%, DAX +1.97%, CAC40 +1.34%

Apr 01 ,2026

  • Synopsis

    • European equity markets are set to for a notably higher open amidst rallying in Asia on Wednesday amidst risk-on trade being fueled by hopes for Iran war de-escalation. Biggest gains on tech-heavy benchmarks in South Korea, Japan and Taiwan. Greater China markets also higher with Hong Kong leading. S&P 500 futures little changed afterhours.

    • Note, Norway closes early for Holy Wednesday and reopens after Easter.

    • Iran conflict offramp hopes gaining traction after Trump said he expects hostilities to end in 2-3 weeks. White House said Trump to address nation about Iran Wednesday night. Trump didn't dispute earlier reports about willingness to end war without reopening Strait of Hormuz, putting onus on US allies to take responsibility. Peace signals also from Iran, expressing willingness to end war with guarantees and confirming in communication with US envoy Witkoff. Still-unsettled war backdrop with US dispatching third aircraft carrier and IRGC issuing threats against US tech companies.

    • In central banks, BOE releasing minutes of FPC meeting whilst ECB's Cipollone lecture at 12:30CET at event on the digital euro organised by Latvia's central bank. Moldova central bank's Dragu panellist at 10:10CET at the aforementioned Economist conf. Russia central bank releases minutes of last MPC meeting.

    • France, Italy, Spain Mar new car registrations are due.

    • Macro data include Italy, Sweden, Switzerland Mar manufacturing PMI as well as final reads for Eurozone, France, Germany, UK, Italy Feb unemployment rate, Switzerland Feb retail sales, Greece Feb unemployment rate, Eurozone Feb unemployment rate, Ireland Mar unemployment rate, Austria Mar unemployment rate

    • A light earnings front sees Nanobiotix (NANO.FP), ADLER Group (ADJ.GR) and Deutsche EuroShop (DEQ.GR) out with FY earnings.

  • Politics/Macro/World News

    • Trump to address nation about Iran on Wednesday night - White House

  • Top company news

    • Earnings/updates

      • NANO.FP (Nanobiotix) -- reports FY net income (€24.0M) vs FactSet (€7.9M) [7 est, (€42.4)-23.4M]

      • ADJ.GR (ADLER Group) -- reports FY adjusted EBITDA (€6M) vs year-ago €81M

      • DEQ.GR (Deutsche EuroShop) -- reports FY FFO per share €1.95 vs year-ago €2.14

      • NWL.IM (NewPrinces) -- reports FY adjusted net income €63.7M vs FactSet €51.9M

    • M&A

      • SKA.B.SS (Skanska) -- sells elderly care home in Sollentuna, Sweden to Folksamgruppen's KPA Pension for SEK340M

      • DEC.FP (JCDecaux) -- acquires Japan's VISTA COMMUNICATIONS Inc.; price not disclosed

      • HP3A.GR (Ringmetall) -- to acquire the Thermoforming Division of New England Plastics Corp.; transaction will take place by way of asset deal

      • KER.FP (Kering) -- and L'Oréal finalize strategic partnership in beauty following approval from competition authorities

      • MFC.CN (Manulife Financial) -- completes acquisition of PT Schroder Investment Management Indonesia; deal announced 24-Sep

      • VIV.FP (Vivendi) -- completes acquisition of Prisma Media's luxury division

      • OCI.NA (OCI NV) -- completes sale of OCI Ammonia to AGROFERT

      • ATO.FP (ATOS SE) -- ATOS completes sale of Bull, its Advanced Computing activities, to the French State for enterprise value up to €404M including contingent earn-outs totalling €104M

      • COLR.BB (Colruyt Group) -- and Korys to soon hold direct participations in GEOxyz

      • JM.SS (JM) -- agrees with Folksam to sell rental project in Väsjön, Sollentuna for SEK 580M

      • CS.SS (Coinshares International) -- joint merger plan with Vine Hill Capital and Odysseus Holdings Limited declared unconditional

      • EMGS.NO (Electromagnetic Geoservices) -- signs agreement for asset sale transaction with P-2 Riggs Capital, Inc.

      • CDA.FP (Compagnie des Alpes) -- completes sale of its subsidiary By Grévin SA

      • TFF.FP (TFF Group) -- now owns 100% of Tonnellerie REMOND

      • MUX.GR (Mutares SE & Co KGaA) --

        • completes acquisition of the flooring business of Hamberger Industriewerke

        • completes sale of Kalzip to Tremco CPG

      • Bain Capital continuing IPO process for Estia Health despite fielding offers in the A$2.2-2.7B range - Australian Financial Review

    • Healthcare

      • GLPG.NA (Galapagos) -- Transcript Intelligence: Galapagos Business Update Call

      • XBRANE.SS (Xbrane Biopharma) -- announces it intends to resubmit its Biologics License Application (BLA) for the ranibizumab biosimilar to the FDA during April/May 2026

    • Other

      • NCC.B.SS (NCC) -- to construct new waterworks in Skutskär; order value ~ SEK 650M

      • NDX1.GR (Nordex) -- receives 35 MW order for wind farm in the Sauerland region in Germany

      • SWON.SW (SoftwareONE Holding) -- holder Curti AG offers ~7m shares -- Bloomberg, citing terms

      • CIRSA.SM (Cirsa Enterprises) -- holder LHMC Midco S.à r.l. placing ~ 6.1M shares via accelerated book-build through Barclays, Deutsche Bank, Morgan Stanley

      • LEON.SW (Leonteq) -- withdraws AGM proposal to grant discharge to the members of the board and the Executive Committee for the financial years 2024 and 2025

      • ZUGER.SW (Zuger Kantonalbank) -- appoints Reto Wangler as Chairman of the board

      • VWS.DC (Vestas Wind Systems) -- adds 135 MW to Q1 order intake

      • RHM.GR (Rheinmetall) -- awarded contracts by global automaker; aggregate value upper two-digit €M range

      • ELUX.B.SS (Electrolux) -- to close factory in Chile by end of April, SEK0.5B restructuring charge with SEK0.2B cash-related

      • WLN.FP (Worldline) -- announces results of €392M rights issue

      • 57L.GR (Sono Group) -- SEC filing: NT 10-K

      • France Mar new passenger car registration +7.7% y/y (comparable working days) to 173,633 vehicles -- PFA

      • Mobimo Holding names Markus Schürch Chairman; dividend confirmed

      • New England Governors announce commitment to explore advanced nuclear energy

  • Key rating changes

    • Upgrades

      • GET.FP (Getlink) --buy from hold at Kepler Cheuvreux

      • ORSTED.DC (Ørsted) -- equal weight from underweight at Barclays

      • Citi upgrades BAB.LN, LDO.IM

      • Jefferies upgrades RACE, RACE.IM

      • RBC Capital Markets upgrades BKG.LN, BTRW.LN

      • ACS.SM (ACS SA) -- ACS SA resumed buy at UBS

      • ENGI.FP (ENGIE) -- to overweight from neutral at JPMorgan

      • HEIA.NA (Heineken) -- to buy from hold at HSBC

      • ISP.IM (Intesa Sanpaolo) -- to buy from hold at Kepler Cheuvreux

      • THULE.SS (Thule Group) -- to hold from sell at SEB

      • TKMS.GR (TKMS AG & Co. KGaA) -- to buy from neutral at Citi

      • URW.FP (Unibail-Rodamco-Westfield) -- to overweight from neutral at JPMorgan

    • Downgrades

      • NDX1.GR (Nordex) -- neutral from buy at BofA

      • SBO.AV (SBO) -- reduce from hold at Kepler Cheuvreux

      • VIRI.FP (Viridien) -- hold from buy at Arctic Securities

      • EQNR.NO (Equinor) -- sell from hold at SEB

      • FUTR.LN (Future Plc) --

        • hold from buy at Berenberg

        • equal weight from overweight at Barclays

    • Initiations

      • BCP.PL (Banco Comercial Portugues) -- buy at Kepler Cheuvreux

      • SDZ.SW (Sandoz Group) -- buy at Goldman Sachs

      • IFCN.SW (Inficon Holding) -- overweight at JPMorgan

    • Other Actions

      • KESKOB.FH (Kesko) -- resumed buy at Danske Bank; prior rating was buy

  • Data

    • Nikkei +5.01% to 53620.40

    • Hang Seng +2.21% to 25335.90

    • Shanghai Composite +1.42% to 3947.11

    • S&P futures +24.5 vs prior close of 6570.8

    • €-$ +0.0016 or +0.14% to 1.1570

    • $-¥ (0.04) or (0.03%) to 158.68

    • €-¥ +0.14 or +0.08% to 183.51

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