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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.05%) to 10603.48, DAX (1.14%) to 23806.99, CAC40 (0.22%) to 8245.80, STOXX 600 (0.15%) to 612.59

Apr 09 ,2026

  • Synopsis:

    • European equity markets generally opened lower, with pan-European indices extending initial falls and becoming range bound at the lower levels, spending afternoon trade with short-lived attempts to pare losses, until rallying strongly into the close.

    • As share ended close to initial levels, Norway +2.0%, Switzerland +0.4% and Portugal +0.3% led outperformers, whilst Greece (2.6%) and Ireland (1.6%) are outliers on the downside and along with the DAX lead underperformers.

    • New strikes in Middle East threaten the fragile U.S.-Iran ceasefire, with differences appearing over whether Lebanon is include in the deal. Maybe a handful of ships made their way through the Strait of Hormuz today. UK PM continues his visit to the Middle East, discussing regional developments with UAE President during his visit to the UAE.

    • Denmark saw another day of government formation negotiations that will continue tomorrow, at the Prime Minister's Office.

    • Economic data included German industrial production's unexpected drop in Feb, from an upwardly revised stagnation in Jan, Spanish Feb industrial production decreasing y/y, missing market forecasts for a gain, and marking a third consecutive month of downturn and Norway's Mar PPI (including oil) surged, recovering from previous declines.

    • In central banks, Poland central bank left its benchmark interest rate unchanged at 3.75%, as expected (release). Netherlands central bank's Sleijpen said ECB is prepared to respond if the Iran war drives inflation away from its 2% target. The governor was addressing a central bank organised Pension Seminar. BOE released its latest credit conditions survey. Iceland central bank published Annual Report 2025 along side its annual meeting (livestream) at which speakers include PM Frostadóttir and Governor of the Central Bank Jónsson. Austria central bank held event title 'Prices and Monetary Policy: The Role of Financial Constraints', speaker Fed. Reserve Bank of San Francisco's Bauer.

    • M&A news flow included Unilever (ULVR.LN) agreeing to acquire Grüns, a fast-growing VMS company, Freudenberg announces the preliminary result of its takeover offer to the shareholders of Nilfisk Holding (NLFSK.DC), intends to initiate squeeze out of remaining shares and Mutares (MUX.GR) agrees to acquire two supplier businesses from Magna (MG.CN). Also, ALSO Holding (ALSN.SW) expects merger with Westcoast's two synergy-relevant operations (France and UK cloud business) to be completed by 1-Jul, whilst Landis+Gyr Group (LAND.SW) completes divestiture of EMEA business. In Italy, Mediocredito Centrale informs that it has received some expressions of interest for the purchase of the stake held in BdM Banca (formerly Banca Popolare di Bari)

    • Amongst the handful of company earnings/updates were Fagron (FAGR.BB) reports Q1 revenue €263.4M vs FactSet €260.7M [3 est, €259.9-261.3M], guides 2026 and Northern Data (NB2.GR) guides Q1 adjusted EBITDA between €10-15M as well as Metlen Energy & Metals (MTLN.GA), OMV (OMV.AV), Andritz (ANDR.AV) and ConvaTec Group (CTEC.LN). Also, Mercedes-Benz Group (MBG.GR) reports Group Q1 worldwide vehicle sales and Stellantis (STLAM.IM) Q1 sales across the EU30 vehicle market.

    • Elsewhere, London Stock Exchange Group (LSEG.LN) to commence already communicated £900M buyback program

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Oil & Gas +1.91%, Chemicals +1.29%, Utilities +1.09%, Retail +0.47%, Insurance +0.45%, Health Care +0.09%, Telecom (0.03%), Construct & Mtls (0.09%)

      • Underperformers:

        • Media (3.86%), Travel & Leisure (1.98%), Persnl & HHold Goods (1.42%), Technology (1.21%), Autos & Parts (1.05%), Basic Resources (1.05%), Ind Goods & Svcs (0.50%), Banks (0.50%), Food & Beverage (0.27%), Financial Svcs (0.26%), Real Estate (0.16%)

    • Macro/Peripheral markets:

      • EU

        • EU will still be hit by 'stagflationary shock', Brussels warns - FT

      • Finland:

        • Received 8 applications for investment aid for biogenic carbon dioxide capture projects - release

      • France

        • Finance minister Lescure says Iran war economic impact moderate for now - Bloomberg

      • Germany

        • OECD calls for structural reforms for Germany - Handelsblatt

      • Italy:

        • PM Meloni attempts political reset after referendum defeat - Politico

      • Norway:

        • Defence minister Sandvik statement regarding Russian patrols in, and near, Norwegian and British maritime areas - release

          • UK exposes covert Russian submarine operation in and around UK waters - release; Defence Secretary Healey speech - release

      • UK:

        • Households face six months of pain even if Iran ceasefire holds - London Times

        • Shoppers should expect surge in supermarket pricing this year - London Times

        • UK Mar house price net balance (23%) vs consensus (18%) and prior revised (14%) from (12%) - RICS

        • UK becomes top destination for US jet fuel after Gulf flow squeeze - FT

        • Environment Agency will take the helm as lead environmental regulator as government seeks daster approvals for clean energy projects - release

    • Company news:

      • Notable Gainers

        • +8.7% ITM.LN (ITM Power) -- announces £40M strategic investment by Great British Energy and £46.5M grant from DESNZ

        • +7.4% GHH.LN (Gooch & Housego) -- H1 Trading Update: revenue £81.9M vs year-ago £70.8M

        • +6.4% IGP.LN (Intercede Group) -- issues trading update: FY26 revenue £17.2M vs year-ago £17.7M

        • +6.3% VK.FP (Vallourec) -- and Fervo Energy announce 5-year supply agreement to support the scaled deployment of geothermal energy across the United States

        • +4.8% EQNR.NO (Equinor) -- neutral from sell at Rothschild & Co Redburn

        • +4.7% IMMU.SS (Mendus) -- announces start of clinical program in CML

        • +4.6% DEVO.LN (Devolver Digital) -- FY EPS ($0.03) vs FactSet $0.01 [5 est, $0.00-0.02]

        • +4.3% MEL.SM (Melia Hotels International) -- hold from reduce at Kepler Cheuvreux

        • +4.2% ANDR.AV (Andritz) -- guides Q1 orders €3.60B vs year-ago €2.33B; confirms FY guidance

        • +4.1% BNOR.NO (BlueNord) -- prelim. Mar net production 42.5 mboepd

        • +4.0% SOM.LN (Somero Enterprises) -- increases maximum amount for buyback program to $6.0M from $4.0M

        • +3.7% PNOR.NO (Petronor E&P) -- provides Q1 update on Congo operations related to PNGF Sud field complex

        • +2.8% ENOG.LN (Energean) -- has received notice from Ministry of Energy and Infrastructure, permitting safe restart and resumption of production and operations at its Power FPSO

        • +2.5% HUW.LN (Helios Underwriting) -- issues Quarterly Syndicate Mid-point Forecast update

        • +2.4% AVCT.LN (Avacta Group) -- Q1 busines update

        • +2.4% RXL.FP (Rexel) -- buy from hold at Jefferies

        • +2.3% MERY.FP (Mercialys) -- acquires a retail park adjacent to its Shop•Park Toulouse Fenouillet for €18M

        • +1.8% MEGP.LN (ME Group International) -- announces new partnership agreement with ASDA

        • +1.5% DCC.LN (DCC) -- outperform from neutral at BNP Paribas Exane

          • On earnings/updates: reversing initial falls FAGR.BB (Fagron), CLAS.B.SS (Clas Ohlson), CSH.GR (CENIT)

      • Notable Decliners

        • -28.3% MDM.FP (Maisons du Monde) -- announces negotiations with financial partners remain inconclusive; launching search for strategic partnership solution

        • -11.1% AMG.NA (AMG Critical Materials) -- places 3.3M new shares at €34.00/share

        • -10.1% CLBS.LN (Celebrus Technologies) -- FY Trading Update: revenue $23.3M vs year-ago $38.7M

        • -6.7% AUTO.NO (AutoStore Holdings) -- Hold from Buy at Arctic Securities

        • -6.3% GSF.NO (Grieg Seafood) -- provides Q1 2026 trading update; quality of the fish harvested, prices, costs to impact results

        • -6.0% OVH.FP (OVHCloud) -- H1 net income €5.9M vs year-ago €7.2M, provides FY26 guidance

        • -5.8% NETC.DC (Netcompany Group) -- hold from buy at ABG Sundal Collier

        • -5.4% CWR.LN (Ceres Power Holdings) -- sell from hold at Peel Hunt

        • -5.4% ADKO.AV (Addiko Bank) -- Raiffeisen Bank International (RBI.AV) to submit public tender offer for €23.05/share

          • -1.4% RBI.AV (Raiffeisen Bank International)

        • -4.2% SNI.NO (Stolt-Nielsen) -- Q1 EPS $0.89 vs FactSet $0.95 [7 est, $0.80-1.13]

        • -3.3% NAS.NO (Norwegian Air Shuttle) -- Mar traffic +2.0% y/y

        • -3.2% MTLN.GA (Metlen Energy & Metals) -- FY net income €314M vs FactSet €363.1M [8 est, €324.2-482M]

        • -3.1% FSG.LN (Foresight Group Holdings) -- FY Trading Update: core EBITDA pre-Share Based Payments to be in line with market expectations

        • -2.5% MBG.GR (Mercedes-Benz Group) -- Group Q1 sales of 499,700 cars and vans, (6%) y/y

        • -2.3% FIA1S.FH (Finnair) -- Mar traffic +15.7% y/y

        • -1.9% FQT.GR (Frequentis) -- confirms prelim. FY numbers reported on 2-Feb; raises dividend by +11.1% y/y

        • -1.8% EQT.SS (EQT) -- sells 30% of Nordic Ferry Infrastructure to consortium including Rederiaktiebolaget Gotland (GOTL.A.SS) for €510M

        • -1.7% CTEC.LN (ConvaTec Group) -- provides medium term guidance at Capital Markets Day

          • On earnings/updates: OMV.AV (OMV), MAS.NO (Måsøval) and reversing initial gains SALM.NO (Salmar)

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Rosenbauer International (ROS.AV)

        • France: Eurobio-Scientific (ALERS.FP)

        • Nordics: Industrivarden (INDU.A.SS), Plejd (PLEJD.SS), Atrium Ljungberg (ATRLJ.B.SS)

      • Trading Update:

        • DACHs: Bossard Holding (BOSN.SW)

        • France: Sodexo (SW.FP)

        • UK: UNITE Group (UTG.LN)

  • Data:

    • Economics:

      • Germany

        • Feb trade balance €19.8B vs consensus €18.1B,prior revised €20.3B from €21.2B

        • Feb industrial production (0.3%) m/m vs consensus +0.6%, prior revised 0.0% from (0.5%)

      • Spain Feb industrial production (1.1%) y/y vs consensus +1.5%, prior revised (0.2%) from +0.3%

      • Denmark Feb trade balance DKK22.2B vs consensus DKK28.5B, prior revised DKK29.4B from DKK31.2B

      • Greece Feb industrial production +1.8% y/y vs consensus +4.5%, prior revised +5.7% from +5.3%

      • Netherlands Mar CPI +2.7% vs preliminary +2.7%

      • Norway Mar PPI +16.9% y/y vs consensus (9.8%), prior (9.4%)

      • Ireland Mar CPI +3.6% y/y vs consensus +3.7%, prior +2.7%

    • Markets:

      • WTI Crude (May 26): +$7.24 or +7.67% to $101.65

      • €-$ +0.0041 or +0.35% to 1.1703

      • £-$ +0.0039 or +0.29% to 1.3435

      • €-£ +0.0003 to 0.8710

      • S&P 500 +0.18%

      • Performance year-to-date:

        • FTSE 100: +6.77%

        • DAX: (2.79%)

        • CAC: +1.18%

        • MIB: +5.30%

        • Stoxx 600: +3.44%

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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