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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.73% to 10667.63, DAX +2.27% to 24702.24, CAC40 +1.97% to 8425.13, STOXX 600 +1.56% to 626.58

Apr 17 ,2026

  • Synopsis:

    • European equity markets closed higher on latest Iran developments. Travel/leisure, industrial goods/services and construction/materials the best performers; oil/gas, utilities and telecom underperform. US equity markets higher. S&P and Nasdaq look to extend Thursday's ATHs with latter looking to finish higher for 13th straight session.

    • Risk sentiment positive amid more optimism over expectations for a durable Iran ceasefire after Axios report US, Iran negotiating over three-page plan to end war, including US releasing $20B of frozen funds in return for Iran giving up uranium stockpile. Iran also announced passage for commercial vessels is open through the remainder of the ceasefire (which ends next week). Trump also announced 10-day ceasefire between Israel and Lebanon, seen aiding US-Iran negotiations. Sentiment also underpinned by meaningful systematic strategy re-risking.

    • Latest Bloomberg survey of economists showed majority expect June ECB hike, but no further moves thereafter with Iran conflict not expected to cause long-lasting price shock. Fits in with report highlighting policymakers leaning against April move with energy prices off highs. In contrast, Bloomberg survey sees BoE to leave policy unchanged throughout 2026. UK Chancellor Reeves hinted at spending cuts to fund defense spending and said government drafting plans to delink gas prices from electricity costs and announced removal of the Carbon Price Support from April 2028 - seen as negative for UK generators.Quiet European macro calendar with no major data out.

    • UK political risk back in the spotlight after PM Starmer sacked top civil servant in foreign office over Mandelson's appointment as US ambassador after it emerged he failed vetting process but was given role anyway. Opposition parties accused Starmer of misleading parliament on the issue.

    • In corporate news, Telefonaktiebolaget LM Ericsson (ERIC.B.SS) is trading lower after reporting disappointing Q1 earnings this morning with Q2 guidance also behind consensus. In France, Alstom (ALO.FP) issued preliminary FY results, revised its guidance for FY 2026/27 and announced withdrawal of three-year cumulative €1.5B FCF guidance, whilst Lagardere reported Q1 revenue +3% y/y. Elsewhere, EDP Renovaveis (EDP.PL) released Q1 operating data.

    • In M&A, Bouygues Telecom (EN.FP), Free-Groupe iliad and Orange (ORA.FP) have entered into exclusive negotiations with the Altice France group for the acquisition of SFR. This offer reflects a total enterprise value of €20.35B for the Altice France assets under consideration. In Germany, Prosus (PRX.NA) announces that it has entered into an agreement to sell 13.6M ordinary shares in Delivery Hero SE (DHER.GR) for ~€270M to Uber Technologies, Inc., representing ~4.5% of Delivery Hero's total issued share capital.

    • Looking ahead to Monday's calendar (see - Europe Week Ahead: 20-Apr to 24-Apr attached) Elixirr International (ELIX.LN), M&C Saatchi (SAA.LN), Aryzta (ARYN.SW), Mercialys (MERY.FP), La Française de l'Energie (FDE.FP), GR Sarantis (SAR.GA) and Rio Tinto (RIO.LN) will be amongst other names to update investors, whilst the macro-calendar releases will include Germany Mar PPI, Portugal Mar PPI, UK Apr house price index - Rightmove.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Travel & Leisure +4.74%, Consumer Products and Services +3.54%, Autos & Parts +3.23%, Technology +2.95%, Ind Goods & Svcs +2.93%, Construct & Mtls +2.80%, Banks +2.71%, Financial Svcs +2.22%, Real Estate +1.91%, Health Care +1.87%, Basic Resources +1.83%,

      • Underperformers:

        • Energy(4.20%), Utilities (1.36%), Telecom (0.80%), Chemicals +0.27%, Food, Beverage and Tobacco +0.81%, Insurance +0.98%, Personal Care Drug and Grocery Stores +1.04%, Media +1.35%,

    • Macro/Peripheral markets:

      • Geopolitics

        • Strait of Hormuz reopening for commercial traffic, Trump and Iran say - Politico

        • Ukraine PM says she feels more confident of US support after visit to Washington - Reuters

      • Central Banks

        • ECB's Lagarde Says Risks to Inflation Outlook Tilted to Upside - Bloomberg

        • BOE's Pill Suggests Rates May Need to Rise to Tackle Inflation - Bloomberg

      • EU

        • Don't 'overload' US deal with extra demands, says EU trade boss - Politico

        • Merger rules to favour scale and innovation, says EU competition chief - FT

        • Slovakia to file lawsuit over EU's Russian gas ban, PM says - Reuters

      • UK

        • Keir Starmer says it's 'staggering' he wasn't told Mandelson failed security vetting - BBC

        • More than half of Britons support rejoining EU 10 years on from Brexit vote - The Guardian

      • Germany

        • Merz speaks at press conference of the "coalition of the willing" - Handelsblatt

      • Hungary

        • EU Officials to Discuss Releasing Hungary Funds, Magyar Says - Bloomberg

    • Company news:

      • Trading Higher:

        • +40.1% ITM.LN (ITM Power £1.33, +0.38) -- announces strategic collaboration with Rheinmetall AG

        • +38.5% CRNA.NO (Circio Holding NOK8.10, +2.25)

        • +13.7% AUS.GR (AT & S Austria Technologie & Systemtechnik €85.50, +10.30) -- price target increased at Deutsche Bank

        • +13.2% ATS.AV (AT & S Austria Technologie & Systemtechnik €85.00, +9.90) -- price target increased at Deutsche Bank

        • +8.5% INDT.SS (Indutrade SEK254.60, +20.00)

        • +8.2% AIXA.GR (Aixtron €44.30, +3.36)

        • +7.5% DAM.GR (Data Modul €28.80, +2.00) -- prelim Q1 earnings

        • +7.2% CREO.LN (Creo Medical Group £0.13, +0.01)

        • +5.6% MBG.GR (Mercedes-Benz Group €52.39, +2.81)

        • +5.3% RAND.NA (Randstad €24.18, +1.23)

        • +5.2% DHER.GR (Delivery Hero €21.49, +1.05) -- Prosus sells 4.5% stake in company to Uber for ~€270M

        • +4.5% ITRK.LN (Intertek Group £49.81, +2.14)

        • +4.1% DSY.FP (Dassault Systemes €19.39, +0.77) -- assumed equal-weight at Morgan Stanley

        • +3.6% DATA.LN (GlobalData £0.95, +0.03)

        • +2.7% MOB.SS (Moberg Pharma SEK10.54, +0.28)

        • +2.5% FUTR.LN (Future Plc £3.38, +0.08)

        • +2.1% LEI.GR (Leifheit €16.90, +0.35)

        • +2.0% SGE.LN (Sage Group £9.27, +0.18) -- assumed overweight at Morgan Stanley

      • Trading Lower:

        • -27.1% ALO.FP (Alstom €16.57, -6.20) -- prelim FY eanrings; Deutsche Bank downgrade

        • -15.6% IPS.FP (Ipsos €33.80, -6.18) -- Q1 revenue

        • -6.6% SSE.LN (Scottish and Southern Energy £24.74, -1.75) -- UK government looking at ways to break link between the cost of electricity and gas prices -- Guardian

        • -6.6% NMAN.SS (Nederman Holding SEK133.00, -9.40) -- Q1 earnings

        • -6.2% WKP.LN (Workspace Group £3.49, -0.23) -- Q4 business update

        • -5.3% ORA.FP (Orange €17.15, -0.95) -- Bouygues Telecom, Free-Groupe iliad and Orange have entered into exclusive negotiations with the Altice France group for the acquisition of SFR

        • -5.3% NHY.NO (Norsk Hydro NOK102.80, -5.75) -- Danske Bank and Morgan Stanley downgrades

        • -5.0% CNA.LN (Centrica £1.95, -0.10) -- UK government looking at ways to break link between the cost of electricity and gas prices -- Guardian

        • -4.7% TTALO.FH (Terveystalo €8.55, -0.42) -- Inderes downgrade

        • -4.1% ERIC.B.SS (Telefonaktiebolaget LM Ericsson SEK105.70, -4.55) -- Q1 eanrings; initiates share buyback program of up to SEK 15.00B

        • -3.8% BMAX.SS (Byggmax Group SEK53.60, -2.10) -- Q1 earnings

        • -3.0% DRX.LN (Drax Group £8.35, -0.26)

        • -2.1% MVIR.SS (Medivir SEK2.11, -0.04) -- reschedule Q1 interim report to 5-May as management heads to South Korea to support FLEX-HCC recrutiment

        • -1.9% IDHC.LN (Integrated Diagnostics Holdings £0.62, -0.01) -- Q4 earnings

        • -1.8% MOL.HB (MOL Hungarian Oil & Gas Ft4,088.00, -76.00) -- proposes that the dividend for FY25 be paid in Q3 of 2026

    • EU companies reporting Monday :

      • Earnings:

        • UK: Elixirr International (ELIX.LN), M&C Saatchi (SAA.LN)

      • Trading Update:

        • DACHs: Aryzta (ARYN.SW)

        • France: Mercialys (MERY.FP), La Française de l'Energie (FDE.FP)

      • Southern Europe: GR Sarantis (SAR.GA)

      • UK: Rio Tinto (RIO.LN)

  • Data:

    • Economics:

      • Italy Feb Trade Balance €4.94B vs consensus €3.83B and prior revised €1.13B from €1.09B

      • Eurozone Feb Trade Balance €11.50B vs consensus €11.7B and prior revised (€1.0B) from (€1.90B)

    • Markets:

      • WTI Crude (May 26): ($11.46) or (12.10%) to $83.23

      • €-$ +0.0024 or +0.20% to 1.1806

      • £-$ +0.0027 or +0.20% to 1.3553

      • €-£ +0.0001 to 0.8710

      • S&P 500 +1.33%

      • Performance year-to-date

        • FTSE 100: +7.41%

        • DAX: +0.86%

        • CAC: +3.38%

        • MIB: +8.66%

        • Stoxx 600: +5.81%

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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