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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.69% to 10436.29, DAX (0.56%) to 23168.08, CAC40 (0.24%) to 7962.39, STOXX 600 (0.18%) to 596.63

Apr 02 ,2026

  • Synopsis:

    • European indices rebounded from the session's lows, still ending mostly lower. Norway and Denmark were closed for holidays. The rebound was sparked by reports that Iran is drafting a new maritime protocol with Oman to streamline traffic through the Strait of Hormuz, pointedly clarifying that the move is designed to ensure the smooth flow of global trade, rather than restrict it. Furthermore, wires also reported that Iran Deputy Foreign Minister Gharibabadi said that Iran is going to set tolls for ships passing via the Hormuz Strait. Before this development President Trump touted military accomplishments and reiterated aim of ending strikes in 2-3 weeks, he also hinted at escalation and there was a lack of emphasis on negotiations for a clear pathway to end conflict.

    • Markets were reassessing the risk of conflict intensifying following preceding rally based on de-escalation hopes. After big bond rally in three prior sessions, yields backing up alongside oil gains. UK to host virtual meeting of 35 countries on reopening Strait of Hormuz "after the fighting has stopped". Markets pricing in long-term disruption to energy supply and inflation remaining higher for longer. Against this backdrop, more volatility in central bank rate pricing anticipated. However, markets have reassessed extent of policy tightening this week given risk of demand destruction.

    • On the macro-front, Swiss inflation accelerated to fastest level in a year, but lower than expectations. BoE monthly DMP survey saw modest increase in firms' inflation expectations due to energy price gains. Elsewhere, press sources said Trump administration readying tariff orders implementing tiered duties on steel and aluminum while drugmakers also in line for tariffs

    • In M&A news, Estée Lauder and Puig Brands (PUIG.SM) are to advance discussions for a stock deal mostly in stocks whilst - in France - Accor (AC.FP) sold a ~30% stake in Essendi for up to €975M and launched a €225M buyback; of note, shares in SES (SESG.FP) and Eutelsat Communications (ETL.FP) are in focus after - overnight - the FT reported that Amazon is in talks to acquire Globalstar as strategic play to accelerate the Project Kuiper and challenge Starlink. Of note, Air France-KLM (AF.FP) submitted a nonbinding offer to acquire a minority stake in TAP Air Portugal (+TAP.PL), with Lufthansa (LHA.GR) also reportedly announcing a non-binding bid. On the reporting front, Wizz Air Holdings (WIZZ.LN) and Ryanair Holdings (RYA.ID) issued March traffic numbers. elsewhere, Montana Aerospace (AERO.SW) reported FY earnings and Stellantis (STLAM.IM) released Q1 total US sales and it is also in talks with Zhejiang Leapmotor to build EVs at an idle Canadian facility

    • The week ahead (please see Europe Week Ahead: Apr 06-10 attached below) sees Mar services PMIs from across the region, Germany Feb industrial production, Switzerland Mar unemployment rate as well as earning/updates from Brunello Cucinelli (BC.IM), JTC (JTC.LN), OMV (OMV.AV), Repsol (REP.SM) and Sodexo (SW.FP). Of note, most markets - exception being Russia - are closed on Mon, and minutes of last FOMC meeting released after the European close on Wed

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers: Oil & Gas +1.88%, Utilities +1.62%, Media +0.71%, Insurance +0.42%, Real Estate +0.35%, Health Care +0.27%, Persnl & HHold Goods +0.22%, Food & Beverage +0.17%, Telecom (0.15%), Chemicals (0.16%), Financial Svcs (0.18%)

      • Underperformers: Banks (1.19%), Technology (1.00%), Construct & Mtls (0.98%), Ind Goods & Svcs (0.95%), Basic Resources (0.85%), Retail (0.81%), Travel & Leisure (0.37%), Autos & Parts (0.20%)

    • Macro:

      • Tehran warns of 'broader' attacks after Trump says US will hit Iran 'extremely hard' (BBC)

      • Seven million Iranians 'locked and loaded' to bleed for country, US warned (Sky News)

      • Macron criticises Trump and says opening strait of Hormuz by force 'unrealistic (Guardian)

      • Russian oil output cuts are unavoidable as drone attacks shrink exports, sources say (Reuters)

      • The Iran War Is Bad for Inflation - But Worse for Growth (BBG)

      • Starmer confers with Meloni on urgent de-escalation in Middle East (Ansa)

      • Leo, the first US pope, emerges as pointed Trump critic (Reuters)

    • Company news:

      • Notable Gainers

        • +15.5% RKH.LN (Rockhopper Exploration £0.90, +0.12) -- results from updated independent technical report on Sea Lion field

        • +8.3% MCB.LN (McBride £1.46, +0.11) -- acquisition; trading conditions update

        • +4.6% ADJ.GR (ADLER Group €0.17, +0.01) -- handover of the Holsten Quartier development project

        • +4.6% AOM.LN (Activeops £1.94, +0.09) -- to sell WorkiQ Trademarks it holds in the UK, US, Australia and EU to Microsoft Corporation for £7.5M

        • +4.1% STLAM.IM (Stellantis €6.58, +0.26) -- Stellantis in talks with Zhejiang Leapmotor to build EVs at idle Canadian facility - Bloomberg; US sales

        • +2.4% TTE.FP (TotalEnergies €79.42, +1.86) -- JV with Masdar

        • +2.0% EBK.GR (EnBW Energie Baden-Wuerttemberg €71.00, +1.40) -- Edenred (EDEN.FP) partnership

        • +1.3% LMN.SW (lastminute.com CHF11.90, +0.15) -- confirms prelim earnings

        • +1.0% ENQ.LN (EnQuest £0.20, -0.00) -- Cendramas Production Sharing Contract

        • +0.3% EDEN.FP (Edenred €17.12, +0.05) -- parternship with EnBW (EBK.GR)

      • Notable Decliners

        • -12.0% SDY.LN (Speedy Hire £0.19, -0.03) -- trading update

        • -9.6% BFF.IM (BFF Bank SpA €1.44, -0.15) -- Moody's lowers long-term and short-term deposit ratings; places on review for further downgrade

        • -9.4% AERO.SW (Montana Aerospace CHF24.70, -2.55) -- earnings

        • -4.6% SPG.GR (Springer Nature €17.04, -0.82) -- CFO to leave at end of year

        • -3.8% AF.FP (Air France-KLM €8.97, -0.36) -- submits nonbinding offer to acquire minority stake in TAP Air Portugal; target cut at Morgan Stanley

        • -3.4% LHA.GR (Deutsche Lufthansa €7.50, -0.27) -- Deutsche Lufthansa has decided to prepare two crisis packages amid jet fuel situation -- FAZ; reportedly remains interested in TAP Air Portugal

        • -2.8% MUX.GR (Mutares SE & Co KGaA €27.40, -0.80) -- capital increase

        • -1.8% QLINEA.SS (Q-linea SEK23.53, -0.42) -- two ASTar units will be shipped to hospitals in Saudi Arabia

        • -1.6% SKA.B.SS (Skanska SEK239.40, -3.90) -- sale and purchase agreement for the sale of its entire 50% ownership of I-4 Mobility Partners HoldCo

        • -1.3% APAM.NA (Aperam €34.34, -0.46) -- acquisition; steel

        • -0.5% ATYM.LN (Atalaya Mining £7.44, -0.04) -- acquires 4.5M shares of Lara Exploration Ltd. for C$13.5M

        • -0.4% GBF.GR (Bilfinger €102.70, -0.40) -- acquisition completion

        • -0.1% WIZZ.LN (Wizz Air Holdings £9.02, -0.01) -- Mar traffic

    • EU companies reporting on Tuesday 6th April:

      • Earnings:

        • DACHs: bet-at-home.com (ACX.GR)

        • UK: JTC (JTC.LN), Jubilee Metals Group (JLP.LN)

      • Trading Update:

        • DACHs: GEA Group (G1A.GR), Ems-Chemie Holding (EMSN.SW)

        • Benelux: Nedap (NEDAP.NA)

      • Sales: Avanza Bank Holding (AZA.SS), Nordnet (SAVE.SS), flatexDEGIRO (FTK.GR)

      • CMD/Events: OSE Immunotherapeutics (OSE.FP), GEA Group (G1A.GR) pre-close call at 14:00CET

  • Data:

    • Economics:

      • Italy Feb Retail Sales +1.6% y/y vs consensus +2.5% and prior revised +2.5% from +2.3%

      • Switzerland Mar CPI +0.3% y/y vs consensus +0.5% and prior +0.1%

      • Netherlands Feb Retail Sales +1.3% y/y vs consensus +3.8% and prior revised +1.6% from +2.2%

    • Markets:

      • WTI Crude (May 26): +$9.83 or +9.82% to $109.95

      • €-$ (0.0040) or (0.35%) to 1.1551

      • £-$ (0.0067) or (0.50%) to 1.3240

      • €-£ +0.0013 to 0.8725

      • S&P 500 +0.02%

      • Performance year-to-date

        • FTSE 100: +5.08%

        • DAX: (5.40%)

        • CAC: (2.30%)

        • MIB: +1.51%

        • Stoxx 600: +0.75%

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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