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StreetAccount Summary - EU Market Recap: FTSE 100 (0.21%) to 10476.46, DAX (0.31%) to 24194.90, CAC40 (0.96%) to 8156.43, STOXX 600 (0.35%) to 613.88

Apr 22 ,2026

  • Synopsis:

    • European equity markets ended the session around the lows of the day. Pan-European indices spent much of the session in a narrow range either side of unchanged on the day, before touching the worst levels of the day shortly before the close

    • Leading outperformers were Portugal +0.5% and Norway +0.3%, amongst a handful of country benchmarks bucking the lower trend, whilst Greece (1.4%) and Ireland (0.9%) lead underperformers

    • Focus remains on the Middle East with the status of further peace talks between the US and Iran is unclear. Reportedly, President Trump has extended the ceasefire with Iran for 3-5 days, while also maintaining the US blockade of Iranian ports and the Islamic Revolutionary Guard Corps attacked three vessels in the Strait of Hormuz and says it has seized two of the three ships, escorting them to the Iranian coast. The Gaza Strip saw further Israeli attacks in the latest violation of a ceasefire agreement.

    • A raft of central bank spoke (or will speak later) today. ECB's Elderson spoke at event organised by Bruegel, title 'Banking reform in the EU - How should the EU balance banking reform, risk and competitiveness?' and also gave an interview to NRC. Bundesbank's Köhler-Geib spoke at event hosted by Frankfurt School of Finance and Management. ECB's Lane spoke at high-level ESRB workshop on European safe assets and was a panellist at pre-Presidency Irish Financial Issues Conf, with Bundesbank's Köhler-Geib on a separate panel at the event.

    • Bundesbank published its latest monthly report. Austria central bank's Kocher spoke in connection with the at release of latest Financial Stability Report - Austrian banking sector: capitalisation improved, cost-income ratio worsened, financial stability good.

    • BOE's Breeden spoke at the FT Live private credit connect: London 'Clarifying private credit's impact on systemic stability', whilst Riksbank's Thedéen spoke on the economic situation and monetary policy challenges linked to war-related supply disruptions at event organised by Stockholm Chamber of Commerce and Bunge gave introductory speech at the report launch of the Gender Balance Index 2026, arranged by the British think tank OMFIF.

    • ECB's Cipollone was in conversation at 14:45CET for PIIE virtual series and podcast "What now, Europe?" and ECB's Donnery was a panellist at EU finance conf. Bundesbank's Balz spoke at bank hosted event 'Quiz Night on the Digital Euro'. Netherlands central bank's Sleijpen delivered a keynote speech at the Jeroen Bosch Summit..

    • Bundesbank's Nagel will deliver a speech at 19:00CET, panellist at 19:20 bank organised event title 'The Digital Euro: Anchoring Europe's Strategic Autonomy in a Digital Future'. ECB's Lagarde panellist at 19:30CET at event organised by London School of Economics and Grantham Research Institute on Climate Change and the Environment. Bundesbank's Köhler-Geib speech at 19:00CET at reception for members of the Hesse state parliament and representatives of the state government.

    • Turkey central bank left its benchmark interest rate unchanged at 37.0%, as expected, and Latvia central bank's Kazāks' met with the Nordic Chambers of Commerce.

    • UK inflation (ONS release) topped the economic data releases and saw an acceleration in consumer prices after Iran war drives sharp rise in fuel prices. Eurozone consumer confidence worsens in Apr, whilst Mar unemployment rates in Finland and Sweden moved higher.

    • EU Commission outlined actions to alleviate the impact of increasingly expensive fuels on businesses and consumers.

    • In the UK, at weekly PMQs, Starmer faced fresh questions on the vetting and appointment of Peter Mandelson (for which the PM has apologised) as ambassador to the US, whilst his former chief of staff, Morgan McSweeney, is to be questioned by MPs on the foreign affairs select committee next Tue. As Chancellor Reeves grapples with the deepening economic fallout from the war in Iran, earlier today she reportedly told leaders of Britain's biggest banks that the financial services sector has a central role to play in managing risk, backing consumer confidence and supporting households .

    • As Danish government formation negotiations continue, the Moderates - seen holding the decisive mandates, will meet with Mette Frederiksen this afternoon for the first time in 12 days.

    • Elsewhere, European Business Summits and EU Commission will host the third EU-Ukraine Business Summit whilst WEF Global Collaboration and Growth Meeting (through Thu) and Delphi Economic Forum - EU's Kadis, Tzitzikostas among the attendees (through Sat) take place. Petersberg Climate Dialogue (through Thu) where Chancellor Merz delivered a speech. Also in Germany, finance minister Klingbeil was among the speakers at Day of Progressive Economic Policy hosted by the Friedrich Ebert Foundation.

    • Companies with smaller percentage moves that had reported earnings/updates included Moncler (MONC.IM) reports Q1 revenue €880.6M vs consensus €838.4M, EQT (EQT.SS) Q1 gross inflows €2.6B, FAUM €142B and total AuM €269B vs prior €273B and Nordea Bank (NDA.SE.SS) reports Q1 EPS €0.36 vs FactSet €0.30 [17 est, €0.24-0.34], reaffirms FY guidance, completes share buyback. Also, Svenska Handelsbanken (SHB.A.SS) reports Q1 EPS SEK3.21 vs FactSet SEK2.90 [14 est, SEK2.51-3.29] and UNIQA Insurance Group (UQA.AV) reports final FY earnings inline with prelim. release, net income €423.3M, reaffirms 2026 guidance

    • Amongst the trickle of M&A news flow was Wendel (MF.FP) completes acquisition of controlling stake in Committed Advisors; BNP Paribas Asset Management (BNP.FP) to acquire 5.9% Committed Advisors from Wendel and Safilo Group (SFL.IM) to acquire SPY+ and Serengeti from Bollé Brands; terms undisclosed.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Oil & Gas +2.29%, Basic Resources +1.60%, Utilities +1.11%, Technology +0.62%, Real Estate +0.20%, Chemicals +0.16%, Financial Svcs (0.01%), Food & Beverage (0.26%), Media (0.33%)

      • Underperformers:

        • Travel & Leisure (2.05%), Telecom (1.91%), Retail (1.54%), Insurance (1.32%), Persnl & HHold Goods (1.22%), Autos & Parts (1.11%), Construct & Mtls (1.09%), Banks (1.08%), Health Care (0.75%), Ind Goods & Svcs (0.69%)

    • Macro/Peripheral markets:

      • EU:

        • Commission proposes actions to protect Europeans from the fossil energy crisis and accelerate the shift to clean, homegrown energy - release; Q+A on AccelerateEU communication - release

      • ECB:

        • Lane speech at the joint workshop of the European Systemic Risk Board Advisory Technical Committee and Advisory Scientific Committee on "A European Safe Asset and Financial Stability" - release

      • UK:

        • Ahead of elections later this month, poll shows Reform UK and Plaid Cymru neck and neck in Wales - YouGov, as another says Labour facing 'historic losses' in London, with Greens and Reform UK set to make major gains in the capital, including potentially being the largest party on multiple councils - YouGov

    • Company news:

      • Notable Gainers

        • +10.9% EGTX.SS (Egetis Therapeutics) -- directed share issue of ~SEK 350M (~$38M)

        • +8.9% SDF.GR (K+S) -- prelim Q1 EBITDA ~ €280M vs FactSet €221.5M; raises FY26 EBITDA forecast to €630-730M vs previous forecast €600-700M

        • +7.2% ASM.NA (ASM International) -- Q1 net income €246M ex-items vs cons €204.2M

        • +6.3% SPM.IM (Saipem) -- Q1 adjusted net income €78M vs StreetAccount €94M; announces new offshore contract with ExxonMobil Guyana

        • +5.4% QLT.LN (Quilter) -- Q1 trading statement: net core inflows £3.06B, AuMA of £141.9B at 31-Mar-26

        • +4.2% TEMN.SW (Temenos) -- Q1 EPS $0.90 vs cons $0.86; FY26 guidance and FY28 targets reconfirmed

        • +3.9% CREO.LN (Creo Medical Group) -- Q1 trading update

        • +3.6% RAND.NA (Randstad) -- Q1 EPS €0.52 ex-items vs cons €0.49

        • +3.5% VU.FP (VusionGroup) -- Q1 adjusted sales €292.9M, +26% vs year-ago €232.8M; confirms FY guidance

        • +3.4% ABBN.SW (ABB Limited) -- Q1 EPS $0.73 vs consensus $0.76

        • +3.2% DR0.GR (Deutsche Rohstoff) -- confirms prelim. FY results; proposes dividend of €2.25/share; plans to buy back shares of up to €7.5M

        • +3.1% VPK.NA (Royal Vopak) -- Q1 proportional net income €92.1M vs FactSet €94M [1 est]

        • +2.8% AKZA.NA (Akzo Nobel) -- Q1 adj EPS from cont ops €0.89 vs cons €0.79; comments on FY26 outlook

        • +2.4% BN.FP (Danone) -- Q1 revenue €6.71B vs cons €6.67B; confirms FY26 guidance

        • +2.4% TYRES.FH (Nokian Renkaat) -- Q1 EPS (€0.16) vs FactSet (€0.14) [6 est, (€0.19)-(0.09)], reaffirms FY guidance

        • +2.4% BNZL.LN (Bunzl) -- Q1 trading consistent with expectations; 2026 guidance unchanged

        • +2.3% PEN.NO (Panoro Energy) -- 2025 annual statement of reserves

        • +2.2% TEL2.B.SS (Tele2) -- Q1 Underlying EBITDAaL SEK2.92B vs cons SEK2.87B; confirms FY guidance

        • +2.0% VAR.NO (Vår Energi) -- Q1 cash from operations $1.70B vs FactSet $1.74B

        • +2.0% RECT.BB (Recticel) -- Q1 revenue €168.1M, +6% vs year-ago €158.4M

          • On earnings/updates: R3NK.GR (RENK Group), FRES.LN (Fresnillo), HEBA.B.SS (HEBA Fastighets), EQT.SS (EQT), VLX.LN (Volex), KMR.LN (Kenmare Resources), PINE.LN (Pinewood Technologies Group), HOC.LN (Hochschild Mining), NDA.SE.SS (Nordea Bank), SNR.LN (Senior) and reversing initial falls FIA1S.FH (Finnair), SAND.SS (Sandvik)

      • Notable Decliners

        • -25.1% FXPO.LN (Ferrexpo) -- reiterates that it has sufficient net accessible cash until approximately the end of August 2026

        • -16.4% ADOC.FP (Adocia)

          • FY net income (€16.6M) vs FactSet €14.1M [4 est, (€15.3)-43.9M]

          • ADOCIA and Vester Finance sign a shareholder loan agreement, enabling ADOCIA to extend its cash runway until beginning Q2 2027

        • -12.7% NEL.NO (NEL) -- Q1 net income (NOK144M) vs FactSet (NOK119.2M) [5 est, (NOK131)-(111M)]

        • -10.5% BVI.FP (Bureau Veritas) -- Q1 revenue €1.57B vs cons €1.56B; adjusts FY26 organic revenue growth guidance

        • -10.3% ERF.FP (Eurofins Scientific) -- Q1 revenue €1.79B vs cons €1.81B; reiterates its objectives for FY26, the mid-term, and FY27

        • -9.9% QTX.LN (Quartix Technologies) -- FY trading update

        • -8.4% FDJU.FP (La Francaise des Jeux) -- Q1 revenue €895M, (3%) vs year-ago €925M

        • -7.8% SHOE.LN (Shoe Zone) -- guides FY adj PBT (£2.0M) to ( £1.0M) vs prior ( £1.0M)

        • -6.6% EKI.FP (Ekinops) -- Q1 revenue

        • -5.3% CRBN.NA (Corbion) -- Q1 adj EBITDA €37.8M vs FactSet €41.1M [2 est, €39.1-43M]; maintains FY outlook

        • -5.0% METSO.FH (Metso Corp.) -- Q1 EPS €0.14 vs cons €0.16

        • -5.0% JD.LN (JD Sports Fashion) -- Chair steps down

        • -4.8% RKT.LN (Reckitt Benckiser) -- Q1 revenue £3.25B vs cons £3.19B; maintains LFL net revenue guidance for 2026

        • -4.7% DTE.GR (Deutsche Telekom) -- reportedly considering full combination with T-Mobile US -- Bloomberg

        • -4.3% FPAR.A.SS (Fastpartner) -- Q1 net income SEK155.1M vs FactSet SEK161M [2 est, SEK142-180M]

        • -4.1% RXL.FP (Rexel) -- Q1 revenue €4.74B vs cons €4.79B; FY26 outlook confirmed

        • -4.0% MF.FP (Wendel) -- completes acquisition of controlling stake in Committed Advisors; BNP Paribas Asset Management to acquire 5.9% Committed Advisors from Wendel

        • -3.9% TUI1.GR (TUI Group) -- expects Q2 underlying EBIT ahead of prior year; adjusts FY26 underlying EBIT guidance at constant currency due to the continuing Iran war

        • -3.4% SHOT.SS (Scandic Hotels Group) -- Q1 EPS (SEK0.59) vs FactSet (SEK0.62) [3 est, (SEK1.07)-(0.30)]; notes good booking situation for Q2

        • -3.3% FYB.GR (Formycon) -- FY adjusted EBITDA (€2.3M) vs FactSet (€15.3M) [3 est, (€24.4)-(4.2M)]

        • -3.3% ELUX.B.SS (Electrolux) -- to end production in Jászberény, Hungary; announces restructuring charge of ~SEK 0.6B and closure will impact ~600 employees

        • -2.9% ALFA.SS (Alfa Laval) -- Q1 EPS SEK4.59 vs FactSet SEK4.99 [13 est, SEK4.58-5.49]

        • -2.9% LHA.GR (Deutsche Lufthansa) -- cuts 20,000 short-haul flights across hubs in summer schedule optimization

        • -2.8% EVO.SS (Evolution) -- Q1 EPS €1.26 vs FactSet €1.27 [7 est, €1.25-1.30]

        • -2.2% LOCAL.FP (Solocal Group) -- Q1 revenue €74.0M, (11%) vs year-ago €82.9M; confirms FY guidance

        • -2.1% ITP.FP (Interparfums) -- Q1 revenue €215.5M, (9%) vs year-ago €235.5M

          • On earnings/updates: MONC.IM (Moncler), ARJO.B.SS (Arjo), UQA.AV (UNIQA Insurance Group), BEGR.SS (BE Group), BONEX.SS (BONESUPPORT HOLDING) and reversing initial gains COFB.BB (Cofinimmo), COOR.SS (Coor Service Management Holding), GBG.LN (GB Group), SHB.A.SS (Svenska Handelsbanken)

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: BE Semiconductor Industries (BESI.NA), Vivoryon Therapeutics (VVY.NA), Cofinimmo (COFB.BB), Sipef (SIP.BB)

        • Finland: Nokia (NOKIA.FH), Orion (ORNBV.FH), Fiskars (FSKRS.FH), Scanfil (SCANFL.FH), OLVI (OLVAS.FH), Atria (ATRAV.FH), Verkkokauppa.com (VERK.FH)

        • France: Sanofi (SAN.FP), Orange (ORA.FP), STMicroelectronics (STMPA.FP), Dassault Systemes (DSY.FP), Sartorius Stedim Biotech (DIM.FP), Groupe Guillin (ALGIL.FP), MEDIAN Technologies (ALMDT.FP)

        • Germany: SAP (SAP.GR), Sartorius (SRT3.GR), Vossloh (VOS.GR), Nuernberger Beteiligungs (NBG6.GR), Deutsche Rohstoff (DR0.GR), DEAG Deutsche Entertainment (LOU.GR)

        • Norway: DNB Bank (DNB.NO), Protector Forsikring (PROT.NO), AutoStore Holdings (AUTO.NO), Europris (EPR.NO)

        • Sweden: Saab (SAAB.B.SS), Hexagon (HEXA.B.SS), Essity (ESSITY.B.SS), Trelleborg (TREL.B.SS), Beijer Ref (BEIJ.B.SS), Axfood (AXFO.SS), Catena (CATE.SS), Fabege (FABG.SS), HMS Networks (HMS.SS), Bufab (BUFAB.SS), AQ Group (AQ.SS), Husqvarna (HUSQ.B.SS), Gränges (GRNG.SS), Vitrolife (VITR.SS), NCAB Group (NCAB.SS), Norion Bank (NORION.SS), Dometic Group (DOM.SS), New Wave Group (NEWA.B.SS), Vitec Software Group (VIT.B.SS), MilDef Group (MILDEF.SS), JM (JM.SS), Sveafastigheter (SVEAF.SS), MIPS (MIPS.SS), Ovzon (OVZON.SS), NOTE (NOTE.SS), Samhällsbyggnadsbolaget i Norden (SBB.B.SS), Swedencare (SECARE.SS), Lightshop (BHG.SS), Humble Group (HUMBLE.SS), Svedbergs Group (SVED.B.SS), Hansa Biopharma (HNSA.SS), Teqnion (TEQ.SS), Studsvik (SVIK.SS), Elanders (ELAN.B.SS), PowerCell Sweden (PCELL.SS), Enea (ENEA.SS), Bulten (BULTEN.SS), Sedana Medical (SEDANA.SS), CDON (CDON.SS), LumenRadio (LUMEN.SS), Bactiguard Holding (BACTI.B.SS), Pricer (PRIC.B.SS), Viaplay Group (VPLAY.A.SS)

        • Southern Europe: Bankinter (BKT.SM), ATRESMEDIA (A3M.SM)

        • Switzerland: Schindler Holding (SCHP.SW)

        • UK: J Sainsbury (SBRY.LN), WH Smith (SMWH.LN), Asos (ASC.LN)

      • Trading Update:

        • Benelux: Heineken (HEIA.NA), Fugro (FUR.NA), Azelis Group (AZE.BB), Kinepolis Group (KIN.BB)

        • France: Safran (SAF.FP), VINCI (DG.FP), Compagnie de Saint-Gobain (SGO.FP), Unibail-Rodamco-Westfield (URW.FP), Bolloré (BOL.FP), Ipsen (IPN.FP), bioMerieux (BIM.FP), Getlink (GET.FP), Renault (RNO.FP), Edenred (EDEN.FP), Wendel (MF.FP), Tikehau Capital (TKO.FP), Lisi (FII.FP), Valeo (FR.FP), SEB (SK.FP), Stef (STF.FP), Eramet (ERA.FP), Clariane (CLARI.FP), Fnac Darty (FNAC.FP), Voltalia (VLTSA.FP), Pierre & Vacances (VAC.FP), Savencia (SAVE.FP), Nexity (NXI.FP), Roche Bobois (RBO.FP), Linedata Services (LIN.FP), Cegedim (ALCGM.FP), Deezer (DEEZR.FP), Guerbet (GBT.FP), SergeFerrari Group (SEFER.FP), Vantiva (VANTI.FP)

        • Germany: FORVIA HELLA (HLE.GR)

        • Nordics: Detection Technology (DETEC.FH)

        • Southern Europe: Distribuidora Internacional De Alimentacion (DIA.SM), Seri Industrial (SERI.IM)

        • Switzerland: Roche Holding (ROP.SW), Nestle (NESN.SW), Galderma Group (GALD.SW), SGS (SGSN.SW), Vontobel Holding (VONN.SW)

        • UK: RELX (REL.LN), London Stock Exchange Group (LSEG.LN), Segro (SGRO.LN), Schroders (SDR.LN), Hikma Pharmaceuticals (HIK.LN), AJ Bell (AJB.LN), Foxtons Group (FOXT.LN)

      • CMD/Events: Volkswagen (VOW3.GR) China Investor Update, Fintel (FNTL.LN)

  • Data:

    • Economics:

      • UK Mar

        • CPI +3.3% y/y vs consensus +3.3%, prior +3.0%; +0.7% m/m vs consensus +0.6%, prior +0.4%

          • Core +3.1% y/y vs consensus +3.2%, prior +3.2%

        • RPI +4.1% y/y vs consensus +3.9%, prior +3.6%; +0.8% m/m vs consensus +0.7%, prior +0.4%

        • PPI Output +2.6% y/y vs consensus +2.9%, prior revised +1.8% from +1.7%; +0.9% m/m vs consensus+1.0%, prior (0.5%)

        • PPI Input +5.4% y/y vs consensus +0.7%, prior revised +0.7% from +0.5%; +4.4% m/m vs consensus +2.8%, prior revised +0.9% from +0.8%

      • Finland Mar unemployment rate 11.1% vs consensus 11.2%, prior 10.9%

      • Sweden Mar unemployment rate 9.7% vs consensus 8.8%, prior 8.8%

      • Eurozone Apr flash consumer confidence (20.6) vs consensus (17.9), prior (16.3)

    • Markets:

      • WTI Crude (Jun 26): +$2.72 or +3.03% to $92.39

      • €-$ (0.0022) or (0.19%) to 1.1722

      • £-$ (0.0000) or (0.00%) to 1.3507

      • €-£ (0.0015) to 0.8680

      • S&P 500 +0.83%

      • Performance year-to-date:

        • FTSE 100: +5.49%

        • DAX: (1.21%)

        • CAC: +0.09%

        • MIB: +6.32%

        • Stoxx 600: +3.66%

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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