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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE (0.9%), DAX (1.9%), CAC (1.8%), IBEX (1.5%), MIB (2.1%)

Apr 02 ,2026

  • Synopsis

    • European equity markets set to open broadly lower following gains in the previous session. Asian equities declining Thursday. Oil prices advancing after President Trump's prime-time speech signalled continued US military strikes on Iran, dashing earlier hopes for a swift ceasefire. Brent crude up 5.7% to $106.9 and WTI above $104. Trump's address on Iran touted military accomplishments and said strategic objectives nearing completion. However, also hinted hinting at escalation in threatening to destroy Iranian energy plants if no deal reached and vowing to hit Iran "extremely hard" with strikes to continue for 2-3 weeks (BBC, Reuters). Speech mostly in-line with press leaks and a rehash of Trump's prior statements, though early takeaways noted lack of emphasis on negotiations and clear pathway to end conflict. While earlier reports mentioned ceasefire offer conditional on reopening Strait of Hormuz, NY Times intel sources said Iran sees no reason for serious talks amid belief it has leverage. FT reports Gulf states consider new pipelines to avoid Strait of Hormuz.

    • Elsewhere, should be a relatively quiet session ahead of the long Easter weekend. Several Nordic markets closed today for Maundy Thursday including Denmark, Iceland, and Norway, while Sweden sees an early close.

    • European macro data releases out today include Italy Feb retail sales, Switzerland Mar CPI. Netherlands Feb Retail Sales already out, coming in at +1.3% y/y vs consensus +3.8% and prior revised +1.6% from +2.2%. ECB's Economic Bulletin 2/2026 released at 10:00CET. BOE publishes at 9:30BST the results of latest survey (Decision Maker Panel (DMP)) of CFOs from small, medium and large UK businesses.

    • On the corporate front highlights, Accor (AC.FP) and Blackstone sign memorandum of understanding regarding sale of Accor's 30.56% stake in Essendi (formerly AccorInvest), while Bloomberg reports Estée Lauder (EL) and Puig (PUIG.SM) said to advance discussions for a mostly stock deal.

  • Politics/Macro/World News

    • Iran war knocks UK business confidence, survey shows (Reuters)

    • Britain's EU point man says reset deal can be done by summer (POLITICO )

  • Top company news

    • Earnings/updates

      • STLAM.IM (Stellantis) -- FCA US reports Q1 sales of 305,902 vehicles, +4.3% y/y

      • AI.FP (Air Liquide) -- releases pre-Q1 2026 Sales Communication

      • SHB.A.SS (Svenska Handelsbanken) -- announces SEK1.1B of VAT refund will be recognized as other income in Q1 of 2026

      • AERO.SW (Montana Aerospace) -- reports FY adj EBITDA €161.3M vs FactSet €170.9M [5 est, €160-206.3M]; confirms FY26 guidance and guides FY27

      • AEVS.SW (AEVIS VICTORIA) -- reports FY EPS (CHF0.24) vs FactSet CHF0.12 [2 est, CHF0.00-0.25] (

      • BAKKA.NO (Bakkafrost) -- reports Q1 trading update

      • LMN.SW (lastminute.com) -- confirms prelim. FY results; proposes dividend of €0.41 per share

      • Also reporting today

        • Benelux: Celyad Oncology (CYAD.BB)

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

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

    • M&A

      • AC.FP (Accor) -- and Blackstone sign memorandum of understanding regarding sale of Accor's 30.56% stake in Essendi (formerly AccorInvest)

      • EL (Estée Lauder) -- and Puig (PUIG.SM) said to advance discussions for a mostly stock deal -- Bloomberg, citing sources familiar with the situation

      • RI.FP (Pernod Ricard) -- completes sale of Mumm Napa sparkling wine activities in the US; finalizes sale of its Kenwood winery operations, located in Sonoma, California

      • APAM.NA (Aperam) -- acquires Magnetec Group; terms undisclosed

      • MOL.HB (MOL Hungarian Oil & Gas) -- increases its stake in ALTEO Plc. to nearly 40% and divests its 15% stake in WABERER'S INTERNATIONAL Plc.

      • SFSN.SW (SFS Group) -- SFS acquires Harald Zahn GmbH

      • CRI.FP (Compagnie Chargeurs Invest) -- Compagnie Compagnie Chargeurs Invest notes Museum Studio finalized the acquisition of the operating company of Chaplin's World from Compagnie des Alpes

    • Healthcare

      • IVA.FP (Inventiva) -- SEC filing: SCHEDULE 13D/A (Filed by New Enterprise Associates 17, L.P.)

      • NYXH.BB (Nyxoah) -- Transcript Intelligence: Nyxoah Non Deal Roadshow

    • Other

      • BA.LN (BAE Systems) -- awarded $145.8M US Army firm-fixed-price contract

      • DTE.GR (Deutsche Telekom) -- to begin second tranche of 2026 share-buyback program today

      • UCG.IM (UniCredit) -- notes it is above MREL requirements set by Resolution Authorities

      • AVOL.SW (Avolta) -- awarded a new 15-year food & beverage contract at Jacksonville International Airport

      • IDR.SM (Indra Sistemas) -- announces Ángel Escribano Ruiz resigns as Executive Chairman

      • IDR.SM (Indra Sistemas) -- designates Ángel Simón Grimaldos as non-executive Chairman

      • Italy Mar new passenger car registrations 185,367 units, +7.6% y/y -- UNRAE

  • Key rating changes

    • Upgrades

      • Berenberg upgrades BHP.LN, VALT.LN

      • ASSA.B.SS (Assa Abloy) -- to buy from hold at DNB Carnegie

      • ATCO.A.SS (Atlas Copco) -- to buy from hold at Pareto

      • BKG.LN (Berkeley Group Holdings) -- to outperform from sector perform at RBC Capital Markets

      • HIAB.FH (Hiab) -- to buy from hold at SEB

      • RAA.GR (Rational) -- to outperform from neutral at Oddo

      • RED.SM (Redeia Corporacion) -- to buy from hold at Jefferies

    • Downgrades

      • AKZA.NA (Akzo Nobel) -- to neutral from buy at Goldman Sachs

      • NESTE.FH (Neste) -- to equal-weight from overweight at Morgan Stanley

      • ELISA.FH (Elisa Oyj) -- to hold from buy at SEB

      • HBR.LN (Harbour Energy) -- to hold from buy at Peel Hunt

      • BIOG.B.SS (BioGaia) -- to hold from buy at SEB

      • AMP.IM (Amplifon) -- to neutral from outperform at BNP Paribas Exane

  • Data

    • Nikkei (2.45%) to 52423.89

    • Hang Seng (1.40%) to 24939.68

    • Shanghai Composite (0.88%) to 3913.77

    • S&P futures (90.5) vs prior close of 6617.8

    • €-$ (0.0064) or (0.55%) to 1.1527

    • $-¥ +0.61 or +0.38% to 159.44

    • €-¥ (0.31) or (0.17%) to 183.74

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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