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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE (0.3%), DAX (1.3%), CAC (1.1%), IBEX (0.9%), MIB (1.1%)

Apr 20 ,2026

  • Synopsis

    • European equity markets set to open lower following last week's gains. The Stoxx Europe 600 posted its fourth consecutive weekly gain, up over 1.9%. Oil prices higher this morning. WTI Crude +6.15% to $89.01, Brent +5.61% to $95.45. Latest Iran headlines raising uncertainty about prospects of second of round of talks. Trump sending US delegation to Pakistan this week though no confirmation from Iran whether they are sending delegation. Tensions ratcheted higher over Strait of Hormuz after Iran re-closed the waterway and fired on vessels, accusing US of violating ceasefire by maintaining its blockade. Trump warned war will resume if Iran doesn't sign deal, renewing threat to take out power plants and bridges. US also seized Iran-linked oil tanker attempting to escape blockade.

    • In the UK, focus on political situation as PM Keir Starmer set to deliver statement to MPs today as he struggles to overcome fears inside his government that the Peter Mandelson vetting scandal could yet cost him his leadership (Guardian ). PM's statement to MPs will come ahead of testimony from sacked Foreign Office head Olly Robbins (FT )

    • UK Rightmove House Price Index already out (link). Average new seller asking prices rise by 0.8% (+£2,929) in April to £373,971, smaller than the long-term April average of 1.2%. Increased mortgage rates and stiff competition to find a buyer are limiting new seller asking price growth this spring, with the number of homes for sale still at an eleven-year high for the time of year. Despite higher mortgage rates due to the global uncertainty, the housing market has remained surprisingly resilient so far. The latest real-time market snapshot shows that new buyer demand for April to date is 7% below this time last year but consistent with this year's trend of lagging behind 2025/ • The number of sales agreed is also resilient, currently at just 3% behind this time last year. In addition the number of homes newly coming to market is only 1% behind last year, and 13% higher than in 2024.

    • Other European macro data releases out today include Germany Mar PPI, Portugal Mar PPI

    • On the corporate front highlights, UCB to acquire Neurona Therapeutics for total transaction value of up to US $1.15B including potential earnouts; TA Associates in advanced talks to buy Advanced Medical Solutions Group for about 280p/share, reports Sky News; Bally's reportedly is in advanced talks to acquire Evoke

    • In central banks, first of Bundesbank's monthly report pre-releases at 12noon CET and Riksbank's Thedéen giving an opening speech at Hanaholmen Industry Forum at 12.00CET. Annual reception of Assn. of German Banks sees speeches by Chancellor Merz at 18:10CET, ECB's Lagarde at 18:40. In the UK, PM Starmer is due to make a statement (scheduled for ~15:30BST) to MPs, which may yield more information about how Peter Mandelson failed his security vetting (Bloomberg, Times, FT). Parliamentary committee topics include UK/EU Treaty on Gibraltar at 13:30BST. Also, EU's Šefčovič hosts UK's minister for the constitution and EU Thomas-Symonds whilst EU's Kadis opens the EU-China Blue Partnership Forum on the Ocean and EU's Roswall meets with the Parliamentary Committees responsible for Foreign and European Affairs. Official opening of the Hannover Messe trade fair with related press confs by the BDI, ZVEI & VDMA trade associations. Chancellor Merz at the open and participates in Industrial AI: From Strategy to Scaling at 11:00CET with CEOs from Siemens (SIE.GR) Busch and SAP (SAP.FGR) Klein, Ministers for Digital Affairs and Defense also speaking through the day.

  • Politics/Macro/World News

    • Moody's Ratings downgrades Belgium to A1, changes outlook to stable -- link

    • ECB frontrunner Hernández de Cos is most qualified candidate for top job, economists say -- FT

    • ECB Better Off to Wait Than Rush Into Rate Action, Demarco Says -- Bloomberg

    • ECB's Kocher Warns Against Preemptive Rate Action on Uncertainty -- Bloomberg

    • Rumen Radev looks set to win Bulgarian Parliamentary election -- BBC

    • Judgement day for Starmer over Mandelson vetting scandal -- Independent

    • UK Housing market remains steady despite higher mortgage rates; Apr Average new seller asking prices rise by 0.8% -- Rightmove

    • Merz Sets Crisis Talks to Tackle Energy Price Impact on Germany -- Bloomberg

    • Market stronger on reports of reopened Hormuz, nuclear deal though many uncertainties remain:

    • US-Iran tensions flare over Strait of Hormuz, heightening uncertainty about talks:

  • Top company news

    • Earnings/updates

      • WCH.GR (Wacker Chemie) -- reports preliminary Q1 adjusted EBITDA €173M vs prior guidance €140M - €160M and FactSet €144.3M [4 est, €121-154M]

      • MOWI.NO (Mowi) -- Q1 trading update: operational EBIT €221M vs FactSet €226.8M [12 est, €201.8-254M]

      • MDM.FP (Maisons du Monde) -- 2025 results as it continues search for strategic backer under conciliator guidance

      • LUND.B.SS (L E Lundbergföretagen) -- reports NAV after deferred tax of SEK 652/sh as of 17-Apr ahead of AGM on 20-Apr vs 31-Dec SEK587/sh

      • B8FK.GR (Biofrontera AG) -- reports FY25 EBIT €4.0M vs year-ago (€5.5M)

      • BYLOT.GA (Bally's Intralot) -- reports FY net income (€61.0M) vs year-ago €16.6M

      • SAR.GA (GR Sarantis) -- reports Q1 EBIT €17.5M vs year-ago €14.8M

      • Also reporting today

        • 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)

    • M&A

      • UCB.BB (UCB) -- to acquire Neurona Therapeutics for total transaction value of up to US $1.15B including potential earnouts

      • AMS.LN (Advanced Medical Solutions Group) -- TA Associates in advanced talks to buy Advanced Medical Solutions Group for about 280p/share - Sky News

      • CA.FP (Carrefour) -- announces sale of its minority stake in Carrefour SA in Turkey to Aydin

      • EVOK.LN (Evoke) -- Bally's is in advanced talks to acquire Evoke -- Sunday Times

      • RUI.FP (Rubis) -- considering buying Puma Energy for cash, shares - Bloomberg

      • EAST.SS (Eastnine) -- agrees to sell two properties in Latvia to fund managed by Provendi Asset Management for ~ €38M

    • Healthcare

      • AZN.LN (AstraZeneca) -- FDA grants orphan drug designation to Alexion Pharmaceuticals for palacaparib as treatment of malignant glioma

      • GSK.LN (GSK Plc) -- FDA grants orphan drug designation to GlaxoSmithKline for momelotinib

      • SAN.FP (Sanofi) -- COMPARE study of Sanofi's Nuvaxovid vs Moderna's mNEXSPIKE meets primary endpoint

      • ROP.SW (Roche Holding) -- Roche issues statement on OCREVUS safety and efficacy in PPMS

      • IMCR (Immunocore Holdings) -- presents five-year survival with tebentafusp in previously untreated metastatic uveal melanoma of 16% versus 8% in a Phase 3 trial at AACR 2026

      • HLUN.B.DC (H. Lundbeck) -- presents new six-month results from INFUSE study at AAN

      • IPH.FP (Innate Pharma) -- to present Matisse phase 2 interim results of IPH5201 in clinical trials plenary session at AACR 2026

      • MOLN.SW (Molecular Partners) -- presents three posters at AACR 2026, new preclinical data for first Switch-DARPin T cell engager MP0632 and DLL3 Radio-DARPin MP0712

      • ORNBV.FH (Orion) -- FDA grants orphan drug designation to Orion Corp for treatment of mesothelioma

      • CANTA.SS (Cantargia) -- announces AACR 2026 presentation of study design and supportive pre-clinical data for investigator-initiated Nadunolimab study in MSS CRC

    • Other

      • BP.LN (BP) -- Holders to target BP chairman Albert Manifold at this week's AGM - Mail on Sunday

      • ABF.LN (Associated British Foods) -- Holders fear Associated British Foods spinoff of Primark - Mail on Sunday

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- TGS extends multi-year Ocean Bottom Node contract

      • Estimated weekend box office revenues in US, Canada $92.6M, (31.8%) y/y - Box Office Mojo

  • Key rating changes

    • Upgrades

      • ALIV.SS (Autoliv) -- to buy from hold at ABG Sundal Collier

      • BESI.NA (BE Semiconductor Industries) -- to buy from neutral at Nomura

      • CCC.LN (Computacenter) -- to buy from hold at Peel Hunt

      • NESTE.FH (Neste) -- to accumulate from reduce at Inderes

      • TPRO.IM (Technoprobe) -- to buy from hold at Equita

      • BAER.SW (Julius Baer Group) -- to overweight from equal weight at Barclays

      • CBK.GR (Commerzbank) -- to overweight from equal weight at Barclays

      • UBSG.SW (UBS Group) -- to equal weight from underweight at Barclays

      • VSURE.SS (Verisure) -- to buy from neutral at Goldman Sachs

    • Downgrades

      • AKE.FP (Arkema) -- to hold from buy at Berenberg

      • LOOMIS.SS (Loomis) -- to neutral from buy at Goldman Sachs

      • SAN.FP (Sanofi) -- to neutral from outperform at BNP Paribas Exane

      • BBVA.SM (Banco Bilbao Vizcaya Argentaria) -- to neutral from buy at UBS

      • NWG.LN (NatWest Group) -- to market perform from outperform at Keefe, Bruyette & Woods

      • ESSITY.B.SS (Essity) -- to underweight from neutral at JPMorgan

      • DBK.GR (Deutsche Bank) -- to equal weight from overweight at Barclays

    • Initiations

      • MRO.LN (Melrose Industries) -- re neutral at BNP Paribas Exane

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- buy at Goldman Sachs

      • LBIRD.FP (Lumibird) -- buy at Stifel

  • Data

    • Nikkei +0.59% to 58823.68

    • Hang Seng +0.41% to 26266.59

    • Shanghai Composite +0.48% to 4070.76

    • S&P futures (50.5) vs prior close of 7161.5

    • €-$ +0.0012 or +0.10% to 1.1754

    • $-¥ +0.16 or +0.10% to 158.95

    • €-¥ +0.37 or +0.20% to 186.81

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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