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StreetAccount Summary - Europe Pre-Open: FTSE (0.2%), DAX (0.5%), CAC (0.4%), MIB (0.7%), IBEX (0.3%)

Apr 07 ,2026

  • Synopsis

    • European equity markets set to open broadly lower following the long Easter weekend. Oil higher, with WTI Crude +2.93% to $115.70; Brent Crude +1.5% to $111.45.

    • President Trump told reporters the Tuesday deadline set for Iran to make a deal is final and unlikely to be extended (Reuters). Noted Iran's proposal was significant but not good enough. At the scheduled press conference, threatened permanent damage to Iran's power plants and bridges in a matter of hours (Reuters). A Reuters source separately indicated the 45-day ceasefire plan reported yesterday by Axios that would come into effect immediately has been presented to both sides. Tehran still rejecting a ceasefire, instead demanding a permanent end to the war. IRNA reported Iran's response consisted of 10 clauses including an end to conflict in the region, protocol for safe passage through the Strait of Hormuz, lifting sanctions and reimbursement for reconstruction. Latest Axios report only reaffirmed two sides remained far apart as a US official described Iran's response as "maximalist." Article added Israeli Prime Minister Netanyahu said to be opposed to a ceasefire deal. Bloomberg noted more mixed signals from Trump, who emphasized reopening the Strait remains a priority after prior comments from the administration about whether this was a condition for withdrawal. Trump also mixed threats with an upbeat assessment of diplomatic conversations, despite Iran's response via state media.

    • European macro data releases out today include Italy, Spain Mar services PMI as well as final reads for Eurozone, France, Germany, UK, Sweden Mar preliminary CPI, Austria Feb PPI

    • Elsewhere, Bank of France hosts ECB Governing Council's annual retreat (through Wed). U.S. Vice President JD Vance scheduled to visit Hungary (through Wed). EU's von der Leyen receives the Lower Saxony Land Medal and delivers a speech whilst EU's Albuquerque participates online at the Senior Global Financial Leaders Meeting.

  • Politics/Macro/World News

    • UK to host meeting on safe passage through Strait of Hormuz after war -- FT

    • Trump's Hormuz deadline looms but Asian nations have already struck deals with Iran -- BBC

    • Inflation scars risk quickly lifting expectations; ECB must be ready to act: ECB policymaker Dimitar Radev -- Reuters

    • UK new car sales grew 6% in March, industry data shows -- Reuters

    • Italian central bank lowers growth forecasts -- link

    • Italy Deficit at 3.1% Breaches EU Ceiling in Setback for Meloni -- Bloomberg

    • Brussels banking rules could hit lenders and UK-EU 'reset', City figures warn -- FT

    • UK considers testing AI models used by banks -- FT

  • Top company news

    • Earnings/updates

      • EMSN.SW (EMS-Chemie Holding) -- reports Q1 sales CHF487M vs FactSet CHF491M (1 estimate)

      • GNFT.FP (GENFIT) -- reports FY net income (€86.0M) vs FactSet (€7.0M) [5 est, (€27.8)-19.2M]

      • CYAD.BB (Celyad Oncology) -- reports FY net income €0.8M vs year-ago (€5.8M)

      • APAM.NA (Aperam) -- provides update on Q1 outlook

      • Also reporting today

        • Earnings:

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

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

        • Trading Update:

          • 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

    • M&A

      • BVI.FP (Bureau Veritas) -- acquires Lotusworks at enterprise value of €375M

      • ULVR.LN (Unilever) -- to pursue more health and wellness acquisitions - London Times

      • 5.HK (HSBC Holdings) -- launches sale process for Australian loan book (again) - The Australian

      • YOU.LN (YouGov) -- Activist Gatemore Capital urges YouGov to cut costs more aggressively and be open to selling consumer panels business for less than £270M paid two years ago - London Times

      • IPN.FP (Ipsen) -- AMF grants 26% holder Beech Tree exemption from requirement to make public tender offer for all Ipsen shares

    • Healthcare

      • SAN.FP (Sanofi) -- Sanofi's lunsekimig met primary and key secondary endpoints in phase 2 respiratory studies in asthma and CRSwNP

      • CSL.AU (CSL) -- notes U.S. recent section 232 tariffs on pharmaceuticals, expects most of its U.S. product sales will not be subject to tariffs

      • EVT.GR (Evotec) -- SEC filing: SCHEDULE 13D/A (Filed by MAK Capital Fund LP)

      • EVT.GR (Evotec) -- 7% holder MAK Capital Fund LP discloses 2-Apr letter to management and board; reiterates seeking separation of Just Biologics and pursuit of carve-out IPO - 13D/A

      • RADX (Radiopharm Theranostics) -- Radiopharm Theranostics, Siemens Healthineers sign supply agreement in which Siemens Healthineers will radiolabel and distribute RAD101 with Fluorine-18

    • Other

      • LI.FP (Klepierre) -- appoints Stanley Shashoua as Chairman of the Supervisory board

      • HSBA.LN (HSBC Holdings) -- HSBC could be lining up George Meddings as its next chair - Sky News

      • Crypto assets and miners higher in the past week with Bitcoin trading near $70K (6-Apr)

  • Key rating changes

    • Upgrades

      • ANTO.LN (Antofagasta) -- to reduce from sell at Peel Hunt

      • EVO.SS (Evolution) -- to buy from hold at Pareto

      • YAR.NO (Yara International) -- to buy from hold at Pareto

    • Downgrades

      • COLR.BB (Colruyt Group) -- to neutral from buy at UBS

      • ADDT.B.SS (Addtech) -- to hold from buy at DNB Carnegie

      • N91.LN (Ninety One) -- to neutral from buy at BofA

  • Data

    • Nikkei (0.06%) to 53381.69

    • Hang Seng +0.00% to 25116.53

    • Shanghai Composite +0.12% to 3884.65

    • S&P futures (31.3) vs prior close of 6651.0

    • €-$ (0.0010) or (0.09%) to 1.1534

    • $-¥ +0.13 or +0.08% to 159.81

    • €-¥ (0.02) or (0.01%) to 184.30

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