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StreetAccount Summary - EU Market Recap: FTSE 100 (1.05%) to 10498.09, DAX (0.60%) to 24270.87, CAC40 (1.14%) to 8235.72, STOXX 600 (0.87%) to 616.03

Apr 21 ,2026

  • Synopsis:

    • European indices ended lower Tuesday with health care, food/beverages, industrials and travel/leisure among the main laggards, while insurance and energy held up better. Follows weaker performance on Monday.

    • Geopolitical signals remain mixed. Consensus largely settled on US-Iran talks resuming in Pakistan this week, though Iran has yet to formally confirm participation. Trump upbeat about reaching an agreement, though most likely outcome appears to be a framework deal that ends hostilities while leaving Iran's nuclear programme and Hormuz for future negotiation.

    • In central banks, a Reuters poll shows most expect the bank of England to hold rates through 2026 despite rising inflation, with risks skewed toward stagflation and weak growth. ECB's Lagarde said the bank requires further data on the economic impact of the Iran war before reaching firm policy conclusions.

    • On macro data front, UK labor market update sees increase in claimant count +26.8K vs consensus +21.4K. Germany's ZEW Economic Sentiment Index collapsed to -17.2 in Apr 2026 versus -0.5 in Mar. Switzerland Mar trade balance came in at CHF3.18B vs prior CHF4.11B from CHF4.20B. Swiss trade surplus narrowest since February 2024 last month. Report from EY Parthenon highlighted record 49% of the 55 profit warnings from UK-listed firms due to policy change and geopolitical uncertainty. Main influence was rising costs.

    • In corporate news flow, out of France, Atos (ATO.FP), Thales (HO.FP), Eiffage (FGR.FP) ) posted Q1 sales. Out of DACHs, Beiersdorf (BEI.GR),BAWAG Group (BG.AV) out with Q1 sales and results, respectively. In the UK, Crest Nicholson Holdings (CRST.LN) amidst the leading decliners this morning post profit warning amidst heightened macro uncertainty. Associated British Foods (ABF.LN) will proceed with the demerger of Primark from its Food business. British Land Co. (BLND.LN), THG PLC (THG.LN) post latest trading updates. In Spain, Enagás (ENG.SM) also out with Q1 results along with announcing acquisition of 31.5% in French operator Teréga from GIC for €573M while selling 40% of Enagás Renovable for €48M.

    • Further in M&A updates, Commerzbank (CBK.GR) rejects UniCredit's approach (UCG.IM).

    • Looking ahead to tomorrow's EU econ-calendar, key releases will include, amongst others, UK Mar CPI, RPI, PPI output/input and Eurozone Apr flash consumer confidence. Of note, markets will be closed in Israel (Independence Day).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Insurance +0.50%, Oil & Gas +0.44%, Technology (0.02%), Utilities (0.05%), Financial Svcs (0.08%), Chemicals (0.14%), Media (0.26%), Banks (0.64%), Real Estate (0.69%), Autos & Parts (0.79%), Retail (0.80%),

      • Underperformers:

        • Health Care (1.98%), Food & Beverage (1.83%), Ind Goods & Svcs (1.71%), Travel & Leisure (1.63%), Persnl & HHold Goods (1.36%), Telecom (1.29%), Basic Resources (1.28%), Construct & Mtls (0.97%)

    • Macro:

      • Central Banks:

        • ECB Has Always Favored Cross-Border Bank M&A, Guindos Says -- Bloomberg

        • BoE to hold interest rates through 2026 despite inflation threat: Reuters poll

      • UK:

        • Chancellor statement to Parliament -- Gov.UK

        • Phones to be banned in schools by law in England under government plans -- BBC

      • Germany:

        • German government steps up vigilance but sees no jet fuel shortages -- Reuters

        • Exclusive: Russia to halt Kazakhstan's oil flows to Germany via Druzhba, sources say -- Reuters

      • France:

        • France freezes €6B spending this year because of Middle East crisis -- Politico

      • Italy:

        • Italy increased steel production by 10.2% m/m in March -- GMKcenter

    • Company news:

      • Notable Gainers

        • +16.8% ADOC.FP (Adocia €5.65, +0.82) -- initiated buy at Stifel

        • +16.2% HH.DC (H+H International DKK101.40, +14.00) -- Holder Solbet Sp. Z applies to Polish competition authority to obtain approval to acquire control of H+H

        • +8.3% ADXN.SW (Addex Therapeutics CHF0.04, -0.00) -- study update

        • +8.2% G4M.LN (Gear4Music (Holdings) £2.74, +0.20) -- FY trading update

        • +5.1% MUM.GR (Mensch & Maschine Software €40.45, +1.90) -- Q1 earnings

        • +4.2% BGO.LN (Bango £0.75, +0.03) -- announces Direct Carrier Billing agreements with two new mobile operator partners

        • +4.2% AIXA.GR (Aixtron €45.36, +1.82) -- assumed overweight at Barclays

        • +4.1% NICL.LN (Nichols £9.72, +0.38) -- AGMtrading update

        • +3.6% PLAT.GA (Thrace Plastics Holding & Commercial €4.00, +0.14) -- FY earnings

        • +3.0% BURE.SS (Bure Equity SEK265.00, +7.60) -- Silex Microsystems intends to IPO on Nasdaq Stockholm

        • +2.6% TROAX.SS (Troax Group SEK113.20, +2.80) -- Q1 earnings

        • +2.1% KINV.B.SS (Kinnevik SEK55.22, +1.12) -- Danske Bank upgrade

        • +2.0% ALU.LN (Alumasc Group £2.50, +0.05) -- Chair discloses purchase of 25K shares

        • +1.9% XPS.LN (XPS Pensions Group £3.27, +0.06) -- FY trading update; transferred buy at Stifel

      • Notable Decliners

        • -35.2% CRST.LN (Crest Nicholson Holdings £0.72, -0.38) -- FY trading update

        • -24.8% RBREW.DC (Royal Unibrew DKK412.60, -137.00) -- company and PepsiCo to end the partnership in Northern Europe upon expiry of current license agreements

        • -8.5% EBQ.LN (Ebiquity £0.11, -0.01) -- FY earnings

        • -6.8% SAF.FP (Safran €287.30, -20.60) -- Jefferies downgrade

        • -5.9% HO.FP (Thales €248.60, -15.60) -- Q1 revenue

        • -5.3% KIT.NO (Kitron NOK96.95, -5.50) -- Pareto downgrade

        • -4.9% LDO.IM (Leonardo €55.64, -2.83) -- Jefferies downgrade

        • -4.8% SUR.GR (Surteco Group €10.10, -0.50) -- FY earnings; suspends divi; announces extension of existing financing through 2029

        • -4.3% WIHL.SS (Wihlborgs Fastigheter SEK86.35, -3.90) -- Q1 earnings

        • -4.1% WALL.B.SS (Wallenstam SEK40.46, -1.76) -- Q1 earnings

        • -3.5% BEI.GR (Beiersdorf €75.06, -2.68) -- Q1 revenue

        • -3.3% AZA.SS (Avanza Bank Holding SEK381.70, -12.70) -- Q1 earnings; to expand operations to Denmark

        • -3.2% BAR.BB (Barco €9.39, -0.32) -- Q1 revenue

        • -2.7% ABF.LN (Associated British Foods £18.59, -0.51) -- H1 earnings; to proceed with demerger of Primark from its Food business

        • -2.3% LIGHT.NA (Signify €19.36, -0.46) -- initiated reduce at Kepler Cheuvreux

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Akzo Nobel (AKZA.NA), Royal Vopak (VPK.NA), Randstad (RAND.NA)

        • DACHs: ABB (ABBN.SW), Phoenix Mecano (PMN.SW), M1 Kliniken (M12.GR)

        • Finland: Metso Corp. (METSO.FH), Nokian Renkaat (TYRES.FH), Finnair (FIA1S.FH)

        • France: Verallia (VRLA.FP)

        • Norway: Vår Energi (VAR.NO), NEL (NEL.NO), Atlantic Sapphire (ASA.NO)

        • Southern Europe: Kri-Kri (KRI.GA)

        • Sweden: Nordea Bank (NDA.SE.SS), Sandvik (SAND.SS), EQT (EQT.SS), Svenska Handelsbanken (SHB.A.SS), Alfa Laval (ALFA.SS), Tele2 (TEL2.B.SS), Evolution (EVO.SS), Scandic Hotels Group (SHOT.SS), BONESUPPORT HOLDING (BONEX.SS), Intea Fastigheter (INTEA.B.SS), Fastpartner (FPAR.A.SS), Arjo (ARJO.B.SS), Coor Service Management Holding (COOR.SS), HEBA Fastighets (HEBA.B.SS), VNV Global (VNV.SS), ByggPartner Gruppen (BYGGP.SS)

        • UK: Ten Lifestyle Group (TENG.LN), Fevara (FVA.LN)

      • Trading Update:

        • Benelux: Corbion (CRBN.NA), Recticel (RECT.BB)

        • DACHs: Renk Group (R3NK.GR), flatexDEGIRO (FTK.GR)

        • France: L'Oreal (OR.FP), EssilorLuxottica (EL.FP), Danone (BN.FP), Bureau Veritas (BVI.FP), Carrefour (CA.FP), Eurofins Scientific (ERF.FP), Rexel (RXL.FP), Gaztransport & Technigaz (GTT.FP), Gecina (GFC.FP), ID Logistics Group (IDL.FP), Interparfums (ITP.FP), Synergie (SDG.FP)

        • UK: Reckitt Benckiser (RKT.LN), Fresnillo (FRES.LN), Bunzl (BNZL.LN), Aberdeen Group (ABDN.LN), Hochschild Mining (HOC.LN), Quilter (QLT.LN), GB Group (GBG.LN), PensionBee Group (PBEE.LN), Kenmare Resources (KMR.LN)

  • Data:

    • Economics:

      • Germany Apr ZEW Economic Sentiment Indicator (17.2) vs consensus (6.7) and prior (0.5)

      • UK February ILO Unemployment Rate 4.9% vs consensus 5.2% and prior 5.2%

      • Switzerland Mar

        • Trade Balance CHF3.18B vs prior CHF4.11B from CHF4.20B

        • Swiss Watch Exports (1%) to CHF 6.2B

    • Markets:

      • WTI Crude (26-May): +$3.83 or +4.27% to $93.44

      • €-$ (0.0041) or (0.35%) to 1.1749

      • £-$ (0.0029) or (0.21%) to 1.3507

      • €-£ (0.0015) to 0.8697

      • S&P 500 (0.27%)

      • Performance year-to-date:

        • FTSE 100: +5.71%

        • DAX: (0.90%)

        • CAC: +1.06%

        • MIB: +6.58%

        • Stoxx 600: +4.03%

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