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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.10%, DAX +0.54%, CAC40 +0.28%

Apr 14 ,2026

  • Synopsis

    • European equity markets are set to open higher, whilst Asian equities strengthening Tuesday. Rebound in risk sentiment chalked up to renewed US-Iran diplomacy momentum. Tech majors driving outperformance of Japan, South Korean and Taiwan benchmarks. Milder gains in China with Hang Seng coming off initial highs.

    • Market focus shifting from negative Iran headlines on weekend (failure of negotiations, US naval blockade) to reports two sides in discussions about resuming diplomacy before expiration of two-week ceasefire. Follows signals from Trump and Iran officials that diplomatic track remains open despite refusals to budge from red lines. US naval blockade went into effect Monday, though ceasefire holding up amid US and Iranian threats. More reports discussing tightness of physical oil markets with Strait of Hormuz vessels having dwindled following recent uptick.

    • Also on today's agenda, In politics, Irish government due to release Spring macro-economic forecasts - Ireland central bank directors Kelly and O'Brien before Irish parliament budgetary oversight committee on medium term economic outlook - and EU's Serafin attends the HSBC Global Investment Summit 2026 in Hong Kong. In the UK, HoC will sit from 11.30BST, starting with questions to the Sec. of State for Health and Social Care, Wes Streeting. Committee topics include reforming the water sector at 9:30 as well as AI, business and the future of the workforce at 14:30. Chancellor Merz hosts the Chairman of the African Union Commission, Mahmoud Ali Youssouf, for talks. Press statements are planned before the meeting. At a PIIE event at 16:00BST, Olivier Blanchard discusses Eurobonds and optimism for Europe's future. German Council on Foreign Relations webinar at 8:30CET title 'Elections in Hungary: Results, Lessons, Implications'. Elsewhere, there's the Geneva Watch Fair - Watches and Wonders (through Sun)

    • In central banks, Riksbank's Bunge speech at 8:30CET at the AMF's spring forum, Bank of Finland's Rehn press conf (livestream) at 10:00 CET on monetary policy and international economic themes and BOE's Greene speech at 13:00BST at event hosted by Atlantic Council. Also, ECB's Lane lecture and roundtable at 16:00CET at event at Univ. of Virginia, ECB's Cipollone pre-recorded conversation at 17:00CET at 25th Forum Confcommercio (through Wed) and BOE's Bailey panellist at 17:00BST at event at Columbia Univ. (livestream). Bundesbank's Balz speech at 19:00CET title 'Challenges for a central bank in turbulent times' at reception hosted by the municipality of Ganderkesee. There's Bretton Woods Committee event at 22:00CET, speakers include ECB's Lagarde at 23:00. G24 Ministers and Governors hold meeting. IEA releases its latest oil market report. IMF publishes its world economic outlook and global financial stability report.

    • European macro data releases out today include Spain Mar final CPI, UK Mar retail sales monitor - BRC, Sweden Mar final CPI, Finland Mar CPI.

    • In earnings news, In France Christian Dior (CDI.FP), Publicis Groupe (PUB.FP) and LVMH Moet Hennessy Louis Vuitton (MC.FP) reported Q1 revenue, with the latter indicating that the Middle East conflict had a negative impact of around 1% on organic growth for the quarter. In DACHs, Givaudan (GIVN.SW) and Sika Group (SIKA.SW) released Q1 revenue, whilst Nordex (NDX1.GR) issued Q1 order numbers. In Southern Europe, Galp Energia SGPS (GALP.PL) issued a Q1 trading update.

  • Politics/Macro/World News

    • Villeroy Urges Vigilance as Poll Shows Firms Plan Higher Prices - Bloomberg

    • Former Nato chief to say UK's national security 'in peril' - BBC

    • No state aid 'free for all' to ease energy shock, new EU antitrust chief warns - FT

    • US begins Iran port blockade, oil prices ease on hopes for dialogue - Reuters

    • Finland Mar CPI +1.3% y/y vs consensus +1.2% and prior +0.6%

    • UK March BRC Like-For-Like Retail Sales Rise 3.1% Y/y Mar

  • Top company news

    • Earnings/updates

      • France

        • MC.FP (LVMH Moet Hennessy Louis Vuitton) -- reports Q1 revenue €19.12B vs StreetAccount €19.27B

        • CDI.FP (Christian Dior) -- Christian Dior reports Q1 revenue €19.1B vs year-ago €20.3B

        • PUB.FP (Publicis Groupe) -- reports Q1 net revenue €3.46B vs StreetAccount €3.48B; reaffirms FY26 guidance

      • DACHs

        • GIVN.SW (Givaudan) -- reports Q1 sales CHF1.88B vs consensus CHF1.88B

        • SIKA.SW (Sika Group) -- reports Q1 revenue CHF2.49B vs StreetAccount CHF2.45B

        • NDX1.GR (Nordex) -- Q1 recorded 1,869 MW of orders in the Projects segment, excluding Service business vs year-ago 2,182 MW

        • A531.GR (Aura Minerals) -- Follow-up: Aura Minerals guides 2026 expansion capex $262-314M vs prior $111-130M

        • COTN.SW (COMET Holding) -- trading update: Q1 sales CHF106.3M vs year-ago CHF111.2M

        • SENS.SW (Sensirion Holding) -- confirms mid-term outlook at investor day

        • CICN.SW (Cicor Technologies) -- reports Q1 Orders CHF196.4M vs FactSet CHF167.5M; expects organic sales momentum to build throughout 2026

        • KURN.SW (Kuros Biosciences) -- reports Q1 adjusted EBITDA $5.7M vs year-ago $3.3M

        • TNIE.GR (tonies) -- reports FY adjusted EBITDA €54.1M vs FactSet €52.8M [7 est, €51-53.7M]

      • Southern Europe

        • GALP.PL (Galp Energia SGPS) -- provides Q1 trading update

      • Nordics

        • AVARDA.SS (Avarda Bank) -- reports Q1 adj EPS SEK2.89 vs FactSet SEK2.87 [2 est, SEK2.84-2.90]

        • KCC.NO (Klaveness Combination Carriers) -- Q1 update; prelim fleet average TCE earnings $33,432/day vs guidance $31,400-32,900/day

        • ADMCM.FH (Admicom) -- reports Q1 EPS €0.19 vs FactSet €0.35 [4 est, €0.22-0.47]; announces new share buyback program

      • Also due to report today:

        • Earnings:

          • France: Forsee Power (ALFOR.FP)

          • Nordics: Avarda Bank (TFBANK.SS), Carasent (CARA.SS)

          • UK: AB Dynamics (ABDP.LN)

        • Trading Update:

          • France: Kering (KER.FP), Sidetrade (ALBFR.FP)

          • UK: Oxford Instruments (OXIG.LN), Atalaya Mining (ATYM.LN)

        • Sales: DFDS (DFDS.DC)

        • Traffic: Flughafen Zuerich (FHZN.SW)

        • CMD/Events: Bayerische Motoren Werke (BMW.GR) pre-close call at 14:00CET (registration link), Veolia Environnement (VIE.FP) environmental security

    • M&A

      • ULS (UL Solutions) -- Inc. to acquire Eurofins Scientific's Electrical & Electronics Business for EV of ~$670M

      • CLNX.SM (Cellnex Telecom) -- Manulife's investment arm in talks to acquire Cellnex's Swiss business -- Reuters, citing sources

      • NEM.GR (Nemetschek) -- reportedly near deal to acquire Thoma Bravo's fleet software firm HCSS - Bloomberg

      • SAX.GR (Stroeer SE & Co. KGaA) -- I Squared Capital, Blackstone planning joint bid for Ströer's out-of-home advertising business -- Bloomberg, citing sources

      • STLAM.IM (Stellantis) -- expected to finalize exit from Symbio hydrogen fuel cell JV by May -- Les Echoes

      • TIT.IM (Telecom Italia) -- appoints advisors to examine the public tender offer and exchange proposed by Poste Italiane

      • NEM.GR (Nemetschek) -- SE signs definitive agreement to acquire Heavy Construction Systems Specialists (HCSS)

      • SAX.GR (Stroeer SE & Co. KGaA) -- Follow-up: I Squared Capital, Blackstone planning joint bid for Ströer's out-of-home advertising business - Bloomberg

      • PPGN.SW (PolyPeptide Group) -- responds to recent market speculation and media reports; is conducting a review of potential strategic options, review is at an early stage and no decision has been made

      • CCL.AU (Cuscal) -- Follow-up: Cuscal to acquire Paymark Limited for A$27M from Retail International, launches A$30M placement and A$3M SPP, reaffirms FY guidance

      • HT5.SW (HOCN Ltd.) -- HT5 and Centiel shareholder meetings approve merger; first trading day targeted on 17-Apr-26

      • ALDLT.FP (Delta Plus Group) -- announces the acquisition of Sicur Delta; terms undisclosed

    • Other

      • ANTO.LN (Antofagasta) -- looking at copper opportunities in Argentina - Bloomberg

      • A531.GR (Aura Minerals) -- board approves development of Era Dorada project; operations expected to commence in 1H28

      • Data Link Solutions LLC and L3 Technologies awarded US Navy contracts

      • EU Commission carries out unannounced antitrust inspections in the chocolate confectionery sector (13-Apr)

      • EU Commission welcomes political agreement on new EU steel measure (13-Apr)

  • Key rating changes

    • Upgrades

      • ACS.SM (ACS SA) -- to overweight from equal-weight at Morgan Stanley

      • GLEN.LN (Glencore) -- to buy from hold at HSBC

      • HMS.SS (HMS Networks) -- to buy from hold at Danske Bank

      • NTGY.SM (Naturgy Energy Group) -- to overweight from neutral at JPMorgan

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- to neutral from sell at Sparebank 1 Markets

      • CON.GR (Continental) -- to overweight from equal weight at Barclays

      • ML.FP (Cie Generale des Etablissements Michelin SA) -- to equal weight from underweight at Barclays

      • VAT Group (VACN.SW) -- to outperform from neutral at Oddo

    • Downgrades

      • KIT.NO (Kitron) -- to hold from buy at DNB Carnegie

      • Aixtron (AIXA.GR) -- to neutral from outperform at Oddo

    • Initiations

      • DANSKE.DC (Danske Bank) -- re- buy at DNB Carnegie

      • VGNT (Versigent Ltd.) -- buy at UBS

  • Data

    • Nikkei +2.32% to 57815.70

    • Hang Seng +0.25% to 25725.13

    • Shanghai Composite +0.18% to 3995.70

    • S&P futures (0.3) vs prior close of 6922.8

    • €-$ +0.0007 or +0.06% to 1.1766

    • $-¥ (0.33) or (0.21%) to 159.12

    • €-¥ (0.31) or (0.17%) to 187.18

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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