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StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.05%), DAX (0.23%), CAC40 (0.02%)

Apr 15 ,2026

  • Synopsis

    • European equity market futures point to a softer open amidst advances in Asia Wednesday. Positive run continues amid Iran war de-escalation momentum. Tech-heavy benchmarks in South Korea and Taiwan outperforming. Hang Seng leading China markets. Japan positive, but off session highs. S&P 500 futures flat afterhours.

    • In central banks, Riksbank's Jansson speech at 13:15CET at conf. organized by the Swedish Trade Unions in Industry and ECB's Cipollone keynote address at 17:20CET at event organised by PIFS and Harvard Law School. At IIF Global Outlook Forum, panellists include BOE's Bailey at 16:50BST (and at 19:00BST ay PIIE event), ECB's Schnabel 22:00CET, whilst Bank of Spain's Escriva, SNB's Schlegel panellist at 18:00BST at event hosted by PIIE. ECB's Cipollone speech at 20:00CET, Bank of France's Villeroy speech at 21:30 at event hosted by Atlantic Council, also speaks at Semafor World Economy, and ECB's Lagarde speech at 21:30CET at Conf. The Economic Magic of Equal Opportunity for Women. There's G7 Finance Ministers and Central Bank Governors meeting under the French presidency.

    • In politics, in the UK, following questions to the Sec. of State for Scotland, Douglas Alexander, HoC sees PMQs at 12noon BST. Committee topics include revisiting the nuclear roadmap at 9:15 (incl. exec from Rolls Royce SMR (RR.LN)), growth and proposed regulation of stablecoins in the UK at 10:00 (Economic Secretary to the Treasury Rigby, execs from FCA), GB Energy and the net zero transition at 10:30 (minister for energy Shanks) as well as pre-commencement hearing with the newly-appointed Deputy Governor for Prudential Regulation at the BOE and Chief Executive of the PRA, Katharine Braddick at 14:15. Chancellor Merz attends - and delivers a speech - at the ceremony marking Lufthansa's (LHA.GR) 100th anniversary at Frankfurt Airport.

    • Macro data include France Mar final CPI, Eurozone Feb industrial production, Norway Mar trade balance and Greece Mar CPI.

    • In earnings, Kering (KER.FP) reported Q1 revenue €3.57B vs StreetAccount €3.60B overnight, whilst AIXTRON (AIXA.GR) raised FY revenue guidance to around €560M from previously €520M. ASML Holding (ASML.NA) is out with Q1 EPS €7.15 vs consensus €6.60 and hiked total dividend for FY25 by 17% y/y whilst Tryg (TRYG.DC) reported Q1 net income DKK958M vs FactSet DKK842.2M. Fraport (FRA.GR) and Flughafen Zuerich (FHZN.SW) reported March traffic.

    • Other corporate news include Aegon (AGN.NA) to sell Aegon UK to Standard Life (SDLF.LN) for total consideration of £2.0B.

  • Politics/Macro/World News

    • Keir Starmer plans May relaunch with King's Speech - FT

    • Middle East conflict sparked major supply shock, says Bank of England boss - The Standard

    • Labour set to lose control in Wales for first time - Telegraph

  • Top company news

    • Earnings/updates

      • Benelux:

        • ASML.NA (ASML Holding) -- reports Q1 EPS €7.15 vs consensus €6.60; hikes total dividend for FY25 by 17% y/y

      • DACHs:

        • GSC1.GR GESCO SE confirms 2025 results in line with prelims; issues outlook for 2026

        • SLHN.SW Swiss Life Holding's 'Swiss Life 2027': well on track in its first year - Annual Report

        • AIXA.GR (Aixtron) -- increases FY 2026 guidance

        • HBAN.SW Helvetia Baloise Holding reports FY underlying earnings CHF633.4M, +20% vs year-ago CHF528.6M

        • FRA.GR (Fraport) -- reports Mar Frankfurt Airport traffic statistics: passengers 4.7M, +2.1% y/y

        • HYQ.GR (Hypoport) -- Q1 Preliminary: Europace transaction volume in residential mortgage finance at the level of the strong prior-year quarter

        • HT5.SW (HT5) -- publishes results of successful offering; all 15.4M Shares placed at CHF 2.04 per Share

        • FHZN.SW (Flughafen Zuerich) -- reports March traffic statistics

      • France:

        • KER.FP (Kering) -- reports Q1 revenue €3.57B vs StreetAccount €3.60B

        • WAGA.FP (Waga Energy) -- reports FY net income (€30.3M) vs FactSet (€33.2M) [2 est, (€34.9)-(31.5M)]

      • Nordics:

        • TRYG.DC (Tryg) -- reports Q1 net income DKK958M vs FactSet DKK842.2M [9 est, DKK725.2-946M]

    • M&A

      • AGN.NA (Aegon) -- to sell UK to Standard Life for total consideration of £2.0B; consists of shareholding of 15.3% (181.1M shares) in Standard Life and cash amount of £0.75B

      • BG.AV (BAWAG Group) -- Transcript Intelligence: BAWAG Group Acquisitionof Permanent TSB Group Holdings plc AG Call

      • BPSO.IM (Banca Popolare di Sondrio) -- BPER Banca confirms the merger by absorption of Banca Popolare di Sondrio to take effect from 20-Apr (post EU close 14-Apr)

      • SOON.SW (Sonova Holding) -- Sonova's Advanced Bionics announces investment in and research collaboration with Spiral Therapeutics (private) (7:01ET)

      • NXT.LN (Next) -- said to be eyeing acquisition of UK handbag maker Radley's brand and IP assets -- Sky News

      • CBK.GR (Commerzbank) -- Commerzbank, UniCredit have held talks about a deal but are at odds over issues including valuation - Bloomberg

      • DKSH.SW (DKSH Holding) -- to acquire the business of Kinematic Resources; price undisclosed

      • 012330.KS (Hyundai Mobis) -- OPMobility among firms interested in Hyundai Mobis' bumper business - Maeil (17:31 KT/10:31 CET)

      • 9638.HK (Ferretti) -- notes closing of KKCG Maritime partial tender offer of up to 52.1M-shares; valid acceptances received of 29.6M-shares

      • TSL.IM (Tessellis) -- CORRECTION: Tesselis announcement of seeking improved irrevocable offers for B2C business unit was published 31-Mar

      • Anthropic receives multiple offers from VCs valuing it at as much as $800B - Business Insider, citing people familiar with the matter

    • Healthcare

      • UCB.BB (UCB) -- announces new clinical data from its generalized myasthenia gravis (gMG) portfolio at the 2026 American Academy of Neurology (AAN) meeting

      • DRW3.GR (Drägerwerk) -- Transcript Intelligence: Drägerwerk at MWB Research German Select Conference

      • OSE.FP (OSE Immunotherapeutics) -- appoints Thomas Gidoin and Aurore Morello as Deputy CEO and CSO, respectively

      • CRNA.NO (Circio Holding) -- enters in vivo cell therapy evaluation agreement with Acuitas Therapeutics

    • Other

      • COV.FP (Covivio) -- acquires four hotels in Milan for €217M

      • EVT.GR (Evotec) -- Appoints Ingrid Müller as COO; will be joining Evotec's Management board, effective 1-May-26

      • BLKB.SW (Basellandschaftliche Kantonalbank) -- appoints Alexandra Scriba as new CEO effective 1-May; Thomas Aegerter to assume the chairmanship

      • VTURA.NO (Ventura Offshore Holding) -- releases company presentation

      • COPN.SW (Cosmo Pharmaceuticals) -- announced positive 12-month Phase III results for Clascoterone 5% topical solution in men with mild-to-moderate AGA

      • UBSG.SW (UBS Group) -- UBS CEO Sergio Ermotti could stay in role well into H2 of 2027 as an obvious internal successor has yet to emerge - Reuters

      • SAN.SM (Banco Santander) -- notified by the Bank of Spain of the determination of its MREL (post EU close 14-Apr)

      • BBVA.SM (Banco Bilbao Vizcaya Argentaria) -- notified by the Bank of Spain of the determination of its MREL (post EU close 14-Apr)

      • RNO.FP (Renault) -- reportedly planning workforce reductions over next two years affecting ~ 15-20% of engineers globally - wires, citing spokesperson

      • BORR.NO (Borr Drilling) --

        • announces proposed offering of $250M of convertible senior notes due 2033

        • prices $260M offering of 3.50% convertible senior notes due 2033

      • PAGE.LN (PageGroup) -- Street Takeaways - PageGroup Q1 Trading Update

      • HAFNI.NO (Hafnia) -- Insider transaction: Hafnia CEO Mikael Skov discloses sale of 1.0M shares - Form 4

  • Key rating changes

    • Upgrades

      • SAND.SS (Sandvik) -- hold from sell at Nordea

      • DOM.SS (Dometic Group) -- buy from hold at Nordea

      • Barclays upgrades BIRG.ID, PTSB.ID

      • Barclays upgrades CABK.SM; downgrades BBVA.SM

      • Danske Bank upgrades AKRBP.NO, VAR.NO; downgrades EQNR.NO

      • Oddo initiates ANTO.LN; upgrades AAL.LN

      • APAM.NA (Aperam) -- to buy from hold at Jefferies

      • ENT.LN (Entain) -- to buy from add at Peel Hunt

      • GIVN.SW (Givaudan) -- to overweight from neutral at JPMorgan

      • HUSQ.B.SS (Husqvarna) -- to hold from sell at SEB

      • UPR.ID (Uniphar) -- to buy at Deutsche Numis

    • Downgrades

      • HANZA.SS (HANZA) -- hold from buy at Nordea

      • IMB.LN (Imperial Brands) -- to neutral from buy at UBS

      • NHY.NO (Norsk Hydro) -- to hold from buy at Deutsche Bank, we're told

      • AGS.BB (Ageas) -- to hold from buy at ING

      • PTSB.ID (Permanent TSB Group Holdings) -- to market perform from outperform at Keefe, Bruyette & Woods

      • SUNN.SW (Sunrise Communications) -- to underperform from neutral at BNP Paribas Exane

    • Initiations

      • XK4.GR (Gabler Group) -- overweight at Cantor Fitzgerald

      • THULE.SS (Thule Group) -- buy at Handelsbanken

  • Data

    • Nikkei +0.37% to 58089.86

    • Hang Seng +0.41% to 25977.50

    • Shanghai Composite +0.25% to 4036.50

    • S&P futures (3.0) vs prior close of 7004.8

    • €-$ (0.0003) or (0.03%) to 1.1793

    • $-¥ +0.16 or +0.10% to 158.95

    • €-¥ +0.14 or +0.07% to 187.45

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