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StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.09%, DAX (0.02%), CAC40 (0.04%)

Apr 17 ,2026

  • Synopsis

    • European indices are set to open mostly unchanged as Asian equities trade mostly lower Friday. Benchmarks turning lower following three-day rally built largely on US-Iran diplomatic traction. Japan, South Korea and Hong Kong seeing biggest declines. Taiwan weighed down by TSMC. S&P 500 futures flat afterhours.

    • Iran conflict de-escalation signals continue to drive risk sentiment with latest headlines noting US and Iran have agreed in-principle to extend ceasefire beyond next week's deadline to allow more time for diplomacy.

    • Lot of central bank commentary to digest in Europe. ECB source report said officials leaning towards keeping policy unchanged at the end of this month, as incoming data won't offer enough clarity on economic impact of Iran conflict. Both Schnabel and Villeroy signaled caution. March ECB minutes highlights need for evidence before acting on energy shock. BoE Governor Bailey reiterated that he is no rush to raise interest rates, reinforcing expectations of steady hand.

    • Earnings reported this morning: (ERIC.B.SS) Telefonaktiebolaget LM Ericsson reports Q1 EBIT SEK5.21B ex-items vs consensus SEK5.41B. (WHA.NA) Wereldhave Q1 trading update: reports direct result per share (DRPS) € 0.45, +2.3% y/y.

    • Economic expected today: Italy Feb trade balance, Eurozone Feb trade balance

  • Politics/Macro/World News

    • The ECB Needn't Make Europe's Energy Shock Worse (BBG )

    • Trump says Iran war should end 'soon', both sides may meet at weekend (Reuters )

  • Top company news

    • Earnings/updates

      • DG.FP (VINCI SA) -- Vinci reports March airport passenger traffic +1.6%

      • ALO.FP (Alstom) -- reports preliminary FY revenue €19.2B vs FactSet €19.01B [13 est, €18.86-19.42B]

      • PIRC.IM (Pirelli & C.) -- reaffirms FY guidance with adj. EBIT expected at the lower end of guidance; activated mitigation plan to contain the impacts of the crisis in the Middle East (~12:02ET)

      • ADP.FP (Aeroport de Paris) -- reports Total Paris Aeroport March traffic 8.3M, +3.4% y/y

      • VIRP.FP (Virbac) -- reports Q1 revenue €384M, +2% vs year-ago €375M

      • DRW3.GR (Drägerwerk) -- reports preliminary Q1 EBIT €18M vs year-ago €0.4M

      • MMB.FP (Lagardere) -- reports Q1 revenue €2.04B, +3% vs year-ago €1.98B

      • IPS.FP (Ipsos) -- reports Q1 revenue €554.9M vs FactSet €572.3M [1 est]

      • ICAD.FP (Icade) -- reports Q1 revenue €278.2M, (15%) vs year-ago €326.0M

      • WHA.NA (Wereldhave) -- Q1 trading update: reports direct result per share (DRPS) € 0.45, +2.3% y/y

      • NYR.BB (Nyrstar) -- reports FY operating profit (€2.9M) vs year-ago (€4.5M)

      • OVS.IM (OVS) -- reports FY adjusted net income €89.4M vs FactSet €89.8M

      • GURN.SW (Gurit Holding) -- reports Q1 revenue CHF75.9M vs FactSet CHF73.1M [1 est]

      • THEP.FP (Thermador Groupe) -- reports H1 revenue €142.4M, +10% vs year-ago €129.9M

    • M&A

      • EQT.SS (EQT AB) -- EQT re-launches sale process for China business of contact lens manufacturer Ginko -- Reuters (earlier, timing uncertain)

      • DOV.IM (doValue) -- completes acquisition of coeo (~10:05ET)

      • KNEBV.FH (Kone) -- reportedly in advanced discussions to purchase TK Elevator -- Bloomberg

      • LOCAL.FP (Solocal Group) -- Solocal announces the planned acquisition of Artur'In, the AI platform dedicated to small and medium-sized businesses. Terms not disclosed

      • COMB.BB (Compagnie du Bois Sauvage) -- Compagnie du Bois Sauvage completes acquisition of remaining 34% stake in Jeff de Bruges

      • O5G.GR (CPI PROPERTY GROUP) -- CPI Property Group announces approval of offer document concerning previously announced voluntary tender offer for Next Re; acceptance period to commence on 20-Apr

    • Healthcare

      • AZN.LN (AstraZeneca) -- FDA approves Wainua sNDA for pre-filled syringe

      • OXB.LN (OXB) -- Transcript Intelligence: OXB at Needham Virtual Healthcare Conference

      • AB.FP (AB Science) -- provides clinical program update; secures €25M clinical trial insurance for phase III trial in AMYOTROPHIC lateral sclerosis, discloses associated voluntary temporary halt of clinical trials in EU

      • PHO.NO (PhotoCure) -- Transcript Intelligence: PhotoCure at Needham Virtual Healthcare Conference

    • Other

      • DIE.BB (D'Ieteren Group) -- Belron targeting Amsterdam IPO at valuation of over €30B - FT (16-Apr, seemingly around 15:55 CEST)

      • ICAD.FP (Icade) -- Follow-up: Icade reports Q1 revenue; Chairman Frédéric Thomas' term to end on 10-Jun

      • ASML.NA (ASML Holding) -- Street Takeaways - ASML Holding Q1 Earnings

      • ERIC.B.SS (Telefonaktiebolaget LM Ericsson) -- initiates share buyback program of up to SEK 15.00B

      • GIVN.SW (Givaudan) -- Street Takeaways - Givaudan Q1 Sales

      • REP.SM (Repsol) -- issues press release on agreement to increase its oil production in Venezuela

      • ALO.FP (Alstom) -- CORRECTION: Alstom reports preliminary FY revenue €19.2B vs FactSet €19.01B

      • AGS.BB (Ageas) -- releases 2025 Annual Report (includes sustainability report)

      • Israel-Lebanon agree to temporary truce; Anthropic releases new model in intraday themes (16-Apr)

      • Regional Gaming Revenues - New Jersey March 2026

      • Wall Street banks offering CDS against private credit funds run by Apollo, Ares and Blackstone - FT

  • Key rating changes

    • Upgrades

      • BOSN.SW (Bossard Holding) -- to neutral from sell at UBS

    • Downgrades

      • ALO.FP (Alstom) -- to hold from buy at Deutsche Bank

      • YAR.NO (Yara International) -- to hold from buy at DNB Carnegie

      • NHY.NO (Norsk Hydro) -- to equal-weight from overweight at Morgan Stanley

      • KINV.B.SS (Kinnevik) -- to hold from buy at DNB Carnegie

    • Initiations

      • SKA.B.SS (Skanska) -- buy at Deutsche Bank

    • Other Actions

      • AT1.GR (Aroundtown) -- resumed underweight at Morgan Stanley

      • CIRSA.SM (Cirsa Enterprises) -- resumed outperform at Bernstein

  • Data

    • Nikkei (0.96%) to 58946.16

    • Hang Seng (1.27%) to 26060.33

    • Shanghai Composite (0.20%) to 4047.62

    • S&P futures +1.8 vs prior close of 7077.0

    • €-$ +0.0002 or +0.02% to 1.1784

    • $-¥ +0.33 or +0.21% to 159.49

    • €-¥ +0.40 or +0.21% to 187.91

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