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StreetAccount Summary - EU Market Recap: FTSE 100 (0.47%) to 10559.58, DAX +0.09% to 24066.70, CAC40 (0.64%) to 8274.57, STOXX 600 (0.43%) to 617.27

Apr 15 ,2026

  • Synopsis:

    • European equity markets closed lower and near session lows with Germany bucking the negative trend. Follows broad gains in prior session. Media, financial services and real estate were the best performing sectors. Personal and household goods, construction and telecom underperformed.

    • Markets cautious after decent gains Tuesday amid renewed optimism on Iran. Diplomatic process appears to have gained more traction with Trump saying second round of talks could occur next couple of days. Trump and Vance maintained upbeat tone in talking up prospects of an agreement. However, there remains mixed comments on nuclear issue, the main sticking point in last weekend meeting. Press reports that US and Iran agree in principle to extend two-week ceasefire to allow time for diplomacy. Backchannel talks suggest gaps narrowing. US naval blockade in force though no ships from Iranian ports have attempted to challenge enforcement. Iran's top joined military command has threatened to prevent trade flows in Red Sea if blockade continues.

    • Focus remains on economic impact of Iran conflict. IMF trimmed economic growth forecasts for Eurozone and the UK and revised up inflation outlook on Tuesday. ECB President Lagarde said in a Bloomberg interview that higher energy costs have pushed the Eurozone away from the ECB's base-case outlook, but not yet enough to warrant leaning towards rate increase. IMF recommended central banks wait for evidence of second round effects before tightening policy.

    • On macro data front, French final CPI in line with flash at 1.7% y/y. Eurozone industrial production slightly firmer than forecast. In other news, Trump threatened to change the UK trade deal over PM Starmer's lack of support for Iran war. EU proceeding with plans to double tariffs and halve quotas on steel imports to primarily curb Chinese overcapacity.

    • In earnings news, ASML Holding (ASML.NA) reported Q1 earnings slightly ahead of expectations and raised its FY26 revenue guidance. In France, following yesterday's disappointing sales report from Kering (KER.FP), luxury heavyweight Hermes (RMS.FP) released Q1 revenue numbers below consensus, reinforcing concerns about the sector. Out in the DACHs region, AIXTRON (AIXA.GR) increased its guidance for 2026, whilst Fraport (FRA.GR) and Flughafen Zürich (FHZN.SW) reported March traffic. In the UK, Barratt Redrow (BTRW.LN) and Antofagasta (ANTO.LN) are amongst others in the region to update investors with their latest numbers. Elsewhere, Stellantis (STLAM.IM) issued Q1 consolidated shipment estimates.

    • In M&A, Standard Life (SDLF.LN) confirmed the acquisition of Aegon UK (AGN.NA) for £2.0B in cash and shares, with the transaction expected to complete around the end of 2026. In Italy, according to Repubblica, UniCredit (UCG.IM) is ready to drop its appeal against the TAR ruling that blocked its takeover bid for Banco BPM (BAMI.IM).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Media +1.62%, Financial Svcs +0.98%, Real Estate +0.61%, Insurance +0.47%, Banks (0.07%), Retail (0.11%), Travel & Leisure (0.19%), Chemicals (0.21%), Autos & Parts (0.25%), Ind Goods & Svcs (0.30%), Technology (0.31%)

      • Underperformers:

        • Persnl & HHold Goods (1.37%), Construct & Mtls (1.03%), Telecom (0.87%), Oil & Gas (0.82%), Food & Beverage (0.82%), Basic Resources (0.68%), Utilities (0.57%), Health Care (0.51%)

    • Macro:

      • Geopolitics:

        • US President Trump has threatened to change the UK trade deal over PM Starmer's lack of support in the Iran war (Telegraph, London Times)

        • Europe advances "European NATO" contingency plan to defend itself if US withdraws support (link)

        • Trump calls Italian PM Meloni "unacceptable" after her criticism of his attack on Pope Leo XIV (Politico)

      • Central Banks:

        • ECB's Lagarde says Eurozone is between baseline and adverse scenarios from Iran war but sees no policy bias yet (Bloomberg)

        • BoE governor Bailey warns new Anthropic AI model could dramatically increase cyber risks (Reuters)

        • BoE's Greene says second-round effects from energy prices will determine need for rate hike (link)

      • Trade/Tariffs:

        • EU agrees to double tariffs and halve steel import quotas from July, hitting UK exports post-Brexit (Guardian)

      • UK:

        • Chancellor Reeves proposes limited defence spending increase of less than £10B despite armed forces funding gap (London Times)

        • Reeves to meet US treasury secretary Bessent amid sharp differences over Iran war economic costs (PAMedia)

    • Company news:

      • Notable Gainers

        • +20.3% AIXA.GR (Aixtron €42.35, +7.16) -- raises FY 2026 guidance

        • +17.9% RNK.LN (Rank Group £1.07, +0.16) -- Q3 trading update

        • +10.3% HYQ.GR (Hypoport €89.65, +8.35) -- Q1 trading update

        • +9.1% BFIT.NA (Basic-Fit €34.12, +2.84) -- KBC upgrade

        • +7.6% RWA.LN (Robert Walters £0.91, +0.06) -- Q1 trading update

        • +7.6% ENRO.SS (Eniro Group SEK0.75, +0.05) -- AI strategic partnership with Sana

        • +7.0% ASAI.LN (ASA International Group £2.29, +0.15) -- FY earnings

        • +6.2% COPN.SW (Cosmo Pharmaceuticals CHF101.40, +5.90) -- Phase III study results for Clascoterone 5%

        • +6.2% SHA0.GR (Schaeffler €8.24, +0.48) -- Q1 pre-close call

        • +6.0% SAGA.LN (Saga Plc £6.17, +0.35) -- FY earnings

        • +5.8% AUS.GR (AT & S Austria Technologie & Systemtechnik €72.50, +4.00)

        • +5.6% DUST.SS (Dustin Group SEK1.54, +0.08) -- Q2 earnings

        • +5.5% ISOFOL.SS (Isofol Medical SEK0.71, +0.04) -- German approval for optimized design of ongoing Phase Ib/II arfolitixorin study

        • +5.0% OCDO.LN (Ocado Group £1.91, +0.09)

        • +4.9% DOM.SS (Dometic Group SEK30.12, +1.40) -- Nordea upgrade

        • +4.7% BOOZT.SS (Boozt Fashion SEK107.10, +4.80)

        • +4.3% GSC1.GR (GESCO SE €14.70, +0.60) -- final FY earnings and 2026 outlook

        • +4.2% HT5.SW (HOCN Ltd. CHF3.75, +0.15) -- places 15.4M shares at offer price of CHF 2.04/sh

        • +2.9% EVT.GR (Evotec €5.55, +0.16) -- new COO

        • +2.3% BOWL.LN (Hollywood Bowl Group £2.71, +0.06) -- H1 trading update

        • +2.3% NOVO.B.DC (Novo Nordisk DKK251.85, +5.70)

        • +1.8% ADJ.GR (ADLER Group €0.17, -0.00)

        • +1.8% STLAM.IM (Stellantis €7.05, +0.12) -- Q1 shipments

      • Notable Decliners

        • -9.3% KER.FP (Kering €254.00, -26.00) -- Q1 revenue

        • -8.2% RMS.FP (Hermes €1,636.50, -146.50) -- Q1 revenue

        • -6.7% ST5.GR (STEICO €20.80, -1.50) -- prelim. Q1 earnings

        • -6.5% STR.AV (STRABAG SE €88.10, -6.10) -- holder offers ~2.36M shares; prices at €86.70/Share -- Bloomberg, citing terms

        • -5.5% HTG.LN (Hunting £4.80, -0.28) -- Q1 trading update

        • -4.9% FXPO.LN (Ferrexpo £0.43, -0.02) -- Q1 production

        • -4.7% ORES.SS (Investment AB Öresund SEK147.40, -7.20) -- Q1 earnings

        • -3.5% IMB.LN (Imperial Brands £28.30, -1.04) -- UBS downgrade

        • -2.9% HVO.LN (hVIVO plc £0.08, -0.00) -- FY earnings

        • -2.8% ALVDM.FP (Voyageurs du Monde €137.00, -4.00) -- FY earnings

        • -1.8% OSE.FP (OSE Immunotherapeutics €3.18, -0.06) -- new deputy CEO and CSO

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: TomTom (TOM2.NA)

        • DACHs: Barry Callebaut (BARN.SW), Gerresheimer (GXI.GR), Voltabox (VOTR.GR), R. Stahl (RSL2.GR), NFON (NFN.GR)

        • France: Pluxee (PLX.FP), Icade (ICAD.FP), Marie Brizard Wine & Spirits (MBWS.FP)

        • Nordics: Kinnevik (KINV.B.SS)

        • Southern Europe: OVS (OVS.IM)

        • UK: Tesco (TSCO.LN), The Beauty Tech Group (TBTG.LN)

      • Trading Update:

        • Benelux: Basic-Fit (BFIT.NA), Sligro Food Group (SLIGR.NA), Fastned (FAST.NA), Econocom Group (ECONB.BB), CM.com (CMCOM.NA)

        • DACHs: VAT Group (VACN.SW), Bystronic (BYS.SW), DocMorris (DOCM.SW), Gurit Holding (GURN.SW)

        • France: Pernod Ricard (RI.FP), Virbac (VIRP.FP), Lagardere (MMB.FP), Maurel et Prom (MAU.FP), Icade (ICAD.FP), Ipsos (IPS.FP), Planisware (PLNW.FP), Thermador Groupe (THEP.FP), PulluP Entertainment (ALPUL.FP), ATEME (ATEME.FP)

        • Nordics: BW Energy (BWE.NO), Bang & Olufsen (BO.DC)

        • UK: Rentokil Initial (RTO.LN), Entain (ENT.LN), Mitie Group (MTO.LN), Dunelm Group (DNLM.LN), Ashmore Group (ASHM.LN), Ninety One (N91.LN), Hays (HAS.LN)

      • Traffic: Aeroport de Paris (ADP.FP), Flughafen Wien (FLU.AV), VINCI (DG.FP)

      • CMD/Events: Medacta Group (MOVE.SW) production site visit, Kering (KER.FP), FUCHS (FPE.GR)

  • Data:

    • Economics:

      • Eurozone Feb Industrial Production (0.6%) y/y vs consensus (1.0%) and prior revised (0.6%) from (1.2%); +0.4% m/m vs consensus +0.3% and prior revised (0.8%) from (1.5%)

      • France Mar CPI +1.7% y/y vs prelim +1.7%; +1.0% m/m vs prelim +0.9%

        • EU Harmonised: +2.0% y/y vs prelim +1.9%; +1.1% m/m vs prelim +1.1%

      • Norway Mar Trade Balance NOK97.5B vs consensus NOK58.8B and prior NOK44.8B

    • Markets:

      • WTI Crude (May 26): +$1.42 or +1.56% to $92.70

      • €-$ +0.0006 or +0.05% to 1.1802

      • £-$ +0.0007 or +0.05% to 1.3573

      • €-£ (0.0001) to 0.8695

      • S&P 500 +0.44%

      • Performance year-to-date

        • FTSE 100: +6.33%

        • DAX: (1.73%)

        • CAC: +1.53%

        • MIB: +7.14%

        • Stoxx 600: +4.24%

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