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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.14%), DAX +0.17%, CAC40 (0.70%)

Apr 22 ,2026

  • Synopsis

    • European equity markets are set for a mixed open amidst mixed Asian equities Wednesday. Tech majors weighing on Hong Kong while mainland China flat. South Korea snapping run of gains. Australia pressured by healthcare selloff on Cochlear guidance downgrade. Taiwan extending record run. S&P 500 futures higher afterhours.

    • In central banks, ECB's Lane speech at 9:40CET at high-level ESRB workshop on European safe assets whilst BOE's Breeden fireside chat at 9:05BST at the FT Live private credit connect: London 'Clarifying private credit's impact on systemic stability'. Bundesbank's monthly report published at 12noon CET and Austria central bank's Kocher speech at 12:30CET at release of latest Financial Stability Report. Pre-Presidency Irish Financial Issues Conf sees ECB's Lane panellist at 14:15CET, Bundesbank's Köhler-Geib at 17:00. Bundesbank's Nagel 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.

    • In the UK, after MPs questions on Wales, there's weekly PMQs at 12noon BST, committee topics include revisiting the nuclear roadmap as well as work of National Highways both at 9:15, air pollution in England at 14:30 and critical minerals at 15:45. Also, reportedly, Chancellor Reeves to meet with leaders of Britain's biggest banks as she grapples with the deepening economic fallout from the war in Iran. 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 (through Sat) take place. Petersberg Climate Dialogue (through Thu) where Chancellor Merz delivers a speech in the afternoon. EU Commission is due to adopt a policy paper outlining actions to alleviate the impact of increasingly expensive fuels on businesses and consumers.

    • Macro data due include UK Mar CPI, RPI, PPI output/input, Eurozone Apr flash consumer confidence, Sweden Mar unemployment rate, Finland Mar unemployment rate

    • A busy morning for earnings sees reports out from DACHs region companies ABB Limited (ABBN.SW), ASM International (ASM.NA) and Temenos (TEMN.SW) whilst from the Benelux region, Akzo Nobel (AKZA.NA) and Randstad (RAND.NA) updated investors. In France, Rexel (RXL.FP), Eurofins Scientific (ERF.FP), Danone (BN.FP) and Bureau Veritas (BVI.FP) released results. Elsewhere, Svenska Handelsbanken (SHB.A.SS), Nordea Bank (NDA.FI.FH), Tele2 (TEL2.B.SS) and Moncler (MONC.IM).

  • Politics/Macro/World News

    • President Trump extends ceasefire deadline -- Truth Social post

    • Finland Mar Unemployment Rate 11.1% vs consensus 11.2% and prior 10.9%

  • Top company news

    • Earnings/updates

      • Benelux:

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

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

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

        • RAND.NA (Randstad) -- reports Q1 EPS €0.52 ex-items vs consensus €0.49

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

        • COFB.BB (Cofinimmo) -- reports Q1 net result, group share, €53.5M, (17%) vs year-ago €64.3M

      • DACHs:

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

        • ASM.NA (ASM International) -- reports Q1 net income €246M ex-items vs consensus €204.2M

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

        • TEMN.SW (Temenos) -- reports Q1 EPS $0.90 vs consensus $0.86; FY26 guidance and FY28 targets reconfirmed

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

      • France:

        • RXL.FP (Rexel) -- reports Q1 revenue €4.74B vs consensus €4.79B; FY26 outlook confirmed

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

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

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

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

        • ADOC.FP (Adocia) -- and Vester Finance sign a shareholder loan agreement, enabling to extend its cash runway until beginning Q2 2027

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

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

        • BN.FP (Danone) -- reports Q1 revenue €6.71B vs consensus €6.67B; confirms FY26 guidance

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

      • Nordics:

        • SHB.A.SS (Svenska Handelsbanken) -- reports Q1 EPS SEK3.21 vs FactSet SEK2.90 [14 est, SEK2.51-3.29]

        • NDA.SE.SS (Nordea Bank) -- reports Q1 EPS €0.36 vs FactSet €0.30 [17 est, €0.24-0.34]

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

        • ARJO.B.SS (Arjo) -- reports Q1 EPS SEK0.40 vs FactSet SEK0.39 [6 est, SEK0.33-0.45]

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

        • TEL2.B.SS (Tele2) -- reports Q1 Underlying EBITDAaL SEK2.92B vs consensus SEK2.87B; confirms FY guidance

        • EQT.SS (EQT) -- Q1 Update: Gross inflows amounted to €2.6B. FAUM amounted to €142B. Total AUM €269B vs prior €273B

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

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

      • Southern Europe:

        • MONC.IM (Moncler) -- reports Q1 revenue €880.6M vs consensus €838.4M

        • SPM.IM (Saipem) -- reports Q1 adjusted net income €78M vs StreetAccount €94.0M

    • M&A

      • TMUS (T-Mobile US) -- Deutsche Telekom reportedly considering full combination with T-Mobile US -- Bloomberg

      • TFX (Teleflex) -- PE firms CVC, GTCR considering buying Teleflex - Reuters, citing sources familiar with the matter

      • 5.HK (HSBC Holdings) -- HSBC shortlists Allianz, Daiichi Life, Sumitomo Life Insurance for sale of HSBC Life Singapore; could seek up-to-$2B valuation - Bloomberg

      • SFL.IM (Safilo Group) -- to acquire SPY+ and Serengeti from Bollé Brands; terms undisclosed

      • SpaceX to acquire Cursor for more than $50B - NYT, citing people familiar with the situation

      • SpaceX confirms agreement with Cursor; has right to acquire Cursor later this year for $60B

      • EU clears Bain Capital's acquisition of Tingstad Group

    • Healthcare

      • BIOV.SW (BioVersys) -- completes BV100 Phase 1 clinical trial in China

      • SAN.FP (Sanofi) -- FDA approves Tzield sBLA, expands indication to pediatric patients with stage 2 type 1 diabetes

      • ROP.SW (Roche Holding) -- Genentech reports new data from the positive Phase III FENhance 1 and 2 studies

      • IPN.FP (Ipsen) -- receives EU approval for Ojemda in pediatric low-grade glioma

      • EGTX.SS (Egetis Therapeutics) -- announces the intention to carry out a directed share issue of approximately SEK 350M (~$38M)

    • Other

      • SPM.IM (Saipem) -- announces new offshore contract with ExxonMobil Guyana

      • AERO.SW (Montana Aerospace) -- AG announces resignation of CEO Kai Arndt

      • ASML.NA (ASML Holding) -- Moolenaar urges US engagement with the Netherlands to close export control loopholes

      • TEMN.SW (Temenos) -- appoints Daniel Schmucki as CFO

      • JD.LN (JD Sports Fashion) -- JD Sports Fashion's board chair Andy Higginson to depart-- Sky News

      • FDJU.FP (La Francaise des Jeux) -- appoints Dan Lévy as CFO, effective 18-May

  • Key rating changes

    • Upgrades

      • Goldman Sachs upgrades GMAB.DC; downgrades VLA.FP

      • ENG.SM (Enagas) -- to neutral from underperform at BNP Paribas Exane

      • SAP.GR (SAP) -- to buy from hold at HSBC

    • Downgrades

      • AUTO.LN (Auto Trader Group) -- to equal weight from overweight at Barclays

      • RBREW.DC (Royal Unibrew) --

        • neutral from outperform at BNP Paribas Exane

        • to neutral from buy at Goldman Sachs

        • to hold from buy at Deutsche Bank

      • CRST.LN (Crest Nicholson Holdings) -- to hold from buy at Deutsche Numis

  • Data

    • Nikkei +0.23% to 59487.94

    • Hang Seng (1.38%) to 26121.23

    • Shanghai Composite +0.32% to 4098.05

    • S&P futures +42.5 vs prior close of 7100.0

    • €-$ +0.0005 or +0.04% to 1.1749

    • $-¥ (0.15) or (0.09%) to 159.24

    • €-¥ (0.10) or (0.05%) to 187.07

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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