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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE (0.6%), DAX (1.5%), CAC (1.1%)

Apr 13 ,2026

  • Synopsis

    • European equity markets set to open broadly lower as markets react to President Trump's announcement that US will begin naval blockade of Strait of Hormuz after talks in Pakistan failed to produce agreement on core issues of Iran's nuclear ambitions, stockpiles of enriched uranium and its demands to control Strait of Hormuz. Trump also vowed navy would interdict ships that have paid Iran tolls and left door open to resuming military strikes. Media sources said Trump considering limited strikes against Iran in bid to exert pressure on its leaders.

    • Latest developments sparked another surge in oil and gas futures with blockade ostensibly aimed at curbing Iranian crude sales but at a cost of higher energy prices. WTI Crude (May 26) +8.15% to $104.44.

    • Failure of negotiations also contributed to early morning risk-off move, though equity market declines relatively contained amid signs diplomatic door remains open despite public displays of defiance from US and Iran. Signals from both Trump and Iranian officials that they are open to resumption of negotiations with media sources believing talks could resume within days.

    • Middle East uncertainty reverberating beyond energy markets. Bond yields backing up alongside oil prices with inflation risks in focus. Most metals weaker though aluminum firmer after Emirates Global Aluminium declared force majeure following recent Iran strike. equity sectors experiencing outsized moves.

    • Recall that last week European equity markets recorded decent gains for the second consecutive week(Stoxx Europe 600 was +3.05%), though volatility remained with the Iran conflict dominating the headlines. President Trump announced a temporary US-Iran ceasefire late Tuesday, which saw the benchmark Stoxx 600 record the biggest one-day gain on Wednesday since March 2022. Sectors and pockets of the market that were beaten down in recent weeks performed well. A sharp pullback in oil prices saw a paring back in ECB and BoE rate hike expectations, but bond markets were choppy on inflation worries and the long-term future of the Strait of Hormuz.

    • European macro data releases out today include Portugal Mar final CPI, Belgium Feb industrial production

    • IMF/World Bank spring meeting gets underway on Mon (through Sun), attendees include EU's Dombrovskis, Šuica, Síkela, Kos, and Albuquerque, and President of the Eurogroup Pierrakakis is among the speakers at related Semafor World Economy event (through Fri), as is Ireland central bank's Makhlouf, in conversation on Tue.

    • In central banks, ECB's de Guindos speech at 14:00CET at 'Wake Up, Spain' symposium (through Fri) and Bundesbank Balz panellist at 18:00CET title ' The future of payment' at event hosted by the bank. ECB publishes macroprudential bulletin at 10:00CET. OPEC releases its latest oil market report and IEA's Birol discusses the global energy market resilience in a moment of crisis at 17:30BST at event hosted by Atlantic Council. There's a G24 Deputies meeting. In politics, Sweden's Spring Fiscal Policy Bill for 2026 will be submitted. German Advisory Council on the Environment (SRU) hosts press conf at 9:15CET ahead of handing over its statement 'Circular Construction: Preserving Existing Buildings, Closing the Loop' to environment and construction ministers. In the UK, parliament returns after its Easter break, the House of Commons (HoC) will sit from 14:30BST, starting with questions to the Sec. of State for Housing, Communities and Local Government, Steve Reed. German transport minister Schnieder speech at 18:00CET at German Transport Forum's Mobility Industry Day. France's foreign minister Barrot host Norwegian counterpart Eide for talks. Elsewhere, at 10:00CET, the verdict in the Lafarge (HOLN.SW) trial is due

    • On the corporate front, Sulzer (SUN.SW) reports lower than expected Q1 order intake but confirms FY guidance, PolyPeptide Group (PPGN.SW) reportedly attracts takeover interest from PE firms including EQT, KKR; Iberdrola (IBE.SM) reportedly puts sale of minority stake in 1-GW Spanish solar energy portfolio on hold for now; Partners Group Holding (PGHN.SW) issues Q1 extraordinary interim business update on its fundraising and investment activity; LVMH (MC.FP) due to report after market close.

  • Politics/Macro/World News

    • Viktor Orbán ousted after 16 years in power as Hungarian opposition wins election landslide -- BBC

    • Inflation and growth set to dominate IMF and World Bank meetings -- FT

    • UK households' living standards to fall after energy price shock -- FT

  • Top company news

    • Earnings/updates

      • PGHN.SW (Partners Group Holding) -- issues Q1 extraordinary interim business update on its fundraising and investment activity

      • SUN.SW (Sulzer) -- reports Q1 orders CHF853M vs StreetAccount CHF976M; confirms guidance for 2026

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- operational update: expects multi-client investment to be ~$178M in Q1 vs year-ago $129.7M

      • KID.NO (Kid ASA) -- reports preliminary Q1 revenue NOK800.5M vs FactSet NOK793.1M [6 est, NOK787-800M]

      • Also reporting today

        • Earnings:

          • DACHs: Burkhalter Holding (BRKN.SW)

          • UK: Concurrent Technologies (CNC.LN), Churchill China (CHH.LN), Arecor Therapeutics (AREC.LN)

        • Trading Update:

          • France: LVMH Moet Hennessy Louis Vuitton (MC.FP)

          • Nordics: Nordic Mining (NOM.NO)

          • Southern Europe: Galp Energia (GALP.PL), Puig Brands (PUIG.SM)

          • UK: Wise (WISE.LN), Sirius Real Estate (SRE.LN), Polar Capital Holdings (POLR.LN)

        • Traffic: Aeroflot-Russian Airlines (AFLT.RU), Heathrow Airport (+HTR.LN)

        • CMD/Events: Mercedes-Benz Group (MBG.GR) pre-close call at 17:00CET (registration link), Porsche (P911.GR) pre-close call at 17:30CET, Robertet (RBT.FP) investor conf - House of Denmark - Paris, Puig Brands (PUIG.SM), SBO (SBO.AV)

    • M&A

      • TNXT.IM (Tinexta) -- Zinc BidCo (Advent and Nextalia) announces final result of reopened offer for Tinexta; will reach a total shareholding of 88.84% (post EU close 10-Apr)

      • PPGN.SW (PolyPeptide Group) -- attracts takeover interest from PE firms including EQT, KKR -- Bloomberg, citing sources

      • RIO.AU (Rio Tinto) -- Over a dozen bidders reportedly express interest in Rio Tinto's US boron assets -- Bloomberg

      • ORA.FP (Orange) -- EU clears Orange's acquisition of MasOrange

      • TIT.IM (Telecom Italia) -- EU clears Italian Treasury-led consortium's acquisition of Sparkle

      • IBE.SM (Iberdrola) -- puts sale of minority stake in 1-GW Spanish solar energy portfolio on hold for now - Reuters

      • DIE.BB (D'Ieteren Group) -- D'Ieteren Group's PHE raises new financing for acquisition in Spain

      • RHC.AU (Ramsay Health Care) -- considering divestment of UK arm - The Australian

      • CIA.AU (Champion Iron) -- completes the acquisition of Rana Gruber

      • DMYD.B.SS (Diamyd Medical) -- Diamyd Medical discontinues DIAGNODE-3 following evaluation confirming futility; initiates strategic review

      • ELCO.LN (Eleco) -- divests its German-based visualisation business Veeuze GmbH to 3A Consult UG via a management buy-out

      • Atom Bank in early stages of trying to sell itself - Sky News

      • TAALA.FH (Taaleri) -- acquires a majority stake in Nordic Science Investments; terms undisclosed (€7.31)

    • Healthcare

      • REGN (Regeneron) -- Regeneron's Dupixent (dupilumab) approved in the EU as the first targeted medicine to treat young children with chronic spontaneous urticaria (CSU)

      • GSK.LN (GSK Plc) -- GSK presents positive data from BEHOLD-1 trial of Mo-Rez at SGO Annual Meeting

      • GSK.LN (GSK Plc) -- GSK planning five simultaneous late-stage trials for Mo-Rez - Bloomberg

      • ROP.SW (Roche Holding) -- receives CE mark for new Elecsys NfL blood test to detect neuroinflammation in multiple sclerosis

    • Other

      • LHA.GR (Deutsche Lufthansa) -- Vereinigung Cockpit calls for two-day pilots' strike against Lufthansa from 00:01 CET 13-Apr

      • SREN.SW (Swiss Re) -- publishes its 2025 Financial Condition Report

      • GF.SW (Georg Fischer) -- signs contract worth approximately CHF 100M with Sabesp

      • PIRC.IM (Pirelli & C.) -- notes specific measures imposed on Marco Polo/CNRC by Golden Power Prime Ministerial Office decree (11-Apr)

      • ARB.LN (Argo Blockchain) -- SEC filing: SCHEDULE 13D/A (Filed by Growler Mining Tuscaloosa, LLC)

      • DLG.IM (De'Longhi) -- to initiate a €60M share buyback program from 13-Apr (post EU close 10-Apr)

      • Estimated weekend box office revenues in US, Canada $126.4M, (14.8%) y/y - Box Office Mojo

      • Government wants information about exposure of big banks, insurance to private credit - Bloomberg

      • Regional Gaming Revenues - New York Sports Betting March 2026

      • US FTC negotiating settlement with ad groups to resolve investigation into boycotts against platforms - Reuters

  • Key rating changes

    • Upgrades

      • RYA.ID (Ryanair Holdings) -- to outperform from market perform at Bernstein

      • EVK.GR (Evonik Industries) -- to hold from underperform at Jefferies

      • TTG.LN (TT Electronics) -- to buy from hold at Berenberg

    • Downgrades

      • ABBN.SW (ABB Limited) -- to neutral from buy at Citi

      • VOLV.B.SS (Volvo) -- to hold from buy at Pareto

      • KER.FP (Kering) -- to equal-weight from overweight at Morgan Stanley

      • TELIA.SS (Telia) -- to hold from buy at DNB Carnegie

      • EZJ.LN (EasyJet) -- to market perform from outperform at Bernstein

      • WIZZ.LN (Wizz Air Holdings) -- to market perform from outperform at Bernstein

      • POST.AV (Oesterreichische Post) -- to underperform from neutral at Oddo

      • WIX.LN (Wickes Group) -- to hold from buy at Panmure Liberum

      • EPI.A.SS (Epiroc) -- to hold from buy at ABG Sundal Collier

    • Other

      • BEIJ.B.SS (Beijer Ref) -- initiated underperform at BNP Paribas Exane

      • ONCIN.NO (Oncoinvent) -- initiated buy at ABG Sundal Collier (

  • Data

    • Nikkei (0.78%) to 56478.82

    • Hang Seng (1.09%) to 25610.09

    • Shanghai Composite +0.06% to 3988.49

    • S&P futures (48.3) vs prior close of 6855.3

    • €-$ +0.0015 or +0.13% to 1.1688

    • $-¥ +0.13 or +0.08% to 159.68

    • €-¥ +0.37 or +0.20% to 186.62

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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