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
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.
Please refer to "Terms Of Use".
DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE