May 01 ,2026
Synopsis
UK equity futures point to a soft open. Follows broad gains in European markets on Thursday. Most European markets closed for Labor Day holidays with the exception of UK and Denmark. Asian equity markets higher, with Japan and ASX seeing moderate gains. China, South Korea and Taiwan closed for Labor Day/Golden Week. US equity futures firmer with S&P up ~0.3%. US equities higher on Thursday, with S&P, Nasdaq, and Russell setting fresh record closes.
Low volume day expected due to holiday closure. Investors evaluating yesterday's policy decisions from ECB and BoE. Both kept policy settings unchanged. Comments from President Lagarde and ECB sources reinforce expectations for June rate hike. BoE policy outlook more uncertain. Some sell-side takeaways highlighted that bar for BoE rate hikes may be higher than prior to meeting amid emphasis on weakness in labor market and weak demand outlook, which might dampen inflationary pressure.
US President Trump said the US will be removing all tariffs on whisky imports after visit by King Charles to the White House.
BOE's Pill and Shortall to deliver National MPC Agency briefing at 12:15BST. France Apr new car registrations are due to be released.
Macro data due include UK Apr final manufacturing PMI, Mar mortgage approvals and M4 money supply as well as Switzerland Mar retail sales.
A light corporate news front sees Aalberts (AALB.NA) reporting Q1 EBITA €109.7M vs FactSet €104.0M and expecting improvements on organic revenue growth and EBITA margin in 2026. DBV Technologies (DBV.FP) reported Q1 GAAP EPS ($0.11) vs year-ago ($0.26) and TF1 (TFI.FP) reports Q1 net income €4M vs year-ago €15M. Douglas (DOU.GR) guides Q2 net loss of high-double-digit to low-triple-digit million euro figure, falling short of the analyst consensus of minus €9M.
Politics/Macro/World News
Top company news
Earnings/updates
Benelux:
AALB.NA (Aalberts) -- reports Q1 EBITA €109.7M vs FactSet €104.0M; expect improvements on organic revenue growth and EBITA margin in 2026
DACHs:
DOU.GR (Douglas) -- Q2 net loss incurred amounts to a high-double-digit to low-triple-digit million euro figure, falling short of the analyst consensus of minus €9M.
WIHN.SW (WISeKey International Holding) -- reports FY net income ($38.2M) vs FactSet ($1.3M) [1 est]
France:
DBV.FP (DBV Technologies) -- reports Q1 GAAP EPS ($0.11) vs year-ago ($0.26) - 10-Q
TFI.FP (TF1) -- reports Q1 net income €4M vs year-ago €15M
Nordics:
EMGS.NO (Electromagnetic Geoservices) -- board approves audited financial statements and annual report for 2025
M&A
NXT.IM (Next Geosolutions Europe) -- acquires a further 7.1% of Rana Subsea, bringing its total stake to 82.5%
BST.IM (Banca Sistema) -- Consob approves Banca CF+'s offer document in connection with the acquisition of the remaining shares of Banca Sistema (post EU close 30-Apr)
UCB.BB (UCB) -- announces acquisition of IMIDomics' Patient Insight Business; price not disclosed
ORSTED.DC (Ørsted) -- completes divestment of European onshore business to CIP
DEC.FP (JCDecaux) -- completes sale to NZZ of 325,519 shares of APG|SGA
ACA.FP (Credit Agricole) -- completes acquisition of the Milleis Group
ATO.FP (ATOS SE) -- ATOS completes announced divestment of its South American operations to Semantix
5108.JP (Bridgestone) -- Bekaert completes the acquisition of Bridgestone's tire reinforcement business in China and Thailand
SZG.GR (Salzgitter) -- EU clears Salzgitter's acquisition of Hüttenwerke Krupp Mannesmann
SOP.FP (Sopra Steria Group) -- has completed its acquisitions of Starion and Nexova
BAR.BB (Barco) -- completes acquisition of VerVent Audio Holding
LOCAL.FP (Solocal Group) -- completes acquisition of Artur'In
ELK.NO (Elkem) -- completes sale of Silicones division to Bluestar
EBUS.NA (Ebusco Holding) -- reports Q4 net income (€71.0M) vs year-ago (€200.6M)
+LEOP.DC (LEO Pharma) -- (private) acquires gene therapy platform and DEB candidate in acquisiton of privately-held Replay (9:00ET)
Healthcare
AZN.LN (AstraZeneca) --
issues press release on FDA ODAC panel's vote supporting TRUQAP sNDA in prostate cancer
FDA ODAC Panel votes 6-3 against AstraZeneca's camizestrant in combination with CDK4/6 inhibitor in breast cancer patients
PineTree Therapeutics (private) announces that AstraZeneca exercised option for bispecific degrader program (19:00ET, 29-Apr)
FDA ODAC panel votes 7-1-1 to support AstraZeneca's TRUQAP sNDA in prostate cancer
Other
TIT.IM (Telecom Italia) -- announces conditions fulfilled for the capital reduction and conversion of the savings shares into ordinary shares
DGE.LN (Diageo) -- launches strategic push into "ready-to-drink" beverages category - FT
EQNR.NO (Equinor) -- files automatic mixed shelf of indeterminate amount - F-3ASR
BBVA.SM (Banco Bilbao Vizcaya Argentaria) -- has agreed to carry out an issue of $1B preferred securities contingently convertible into new issued ordinary shares of BBVA
HEXA.B.SS (Hexagon) -- Transcript Intelligence: Hexagon Capital Markets Day
FER.SM (Ferrovial) -- awarded $1.08B US Army contract
CS.FP (AXA) -- Transcript Intelligence: AXA Shareholders Meeting
PGHN.SW (Partners Group Holding) -- condemns defamatory publication by Grizzly Reports; evaluating legal action
UU.LN (United Utilities Group) -- placing result: 60.6M new shares priced at 1,312p/share through Deutsche Bank and J.P. Morgan Securities
TRYG.DC (Tryg) -- announces DKK 1.0B share buyback programme to end no later than 13-May
FING.B.SS (Fingerprint Cards) -- releases 2025 Annual Report (includes sustainability report on page 26)
PRS.NO (Prosafe) -- releases 2025 Annual Report (includes sustainability report)
Metals & Mining Monthly Recap - April
Trump says will be removing certain tariffs and restrictions on Whiskey -- Truth Social post
Key rating changes
Upgrades
REP.SM (Repsol) -- to buy from neutral at Goldman Sachs
Downgrades
TE.FP (Technip Energies) -- to neutral from buy at Goldman Sachs
AKSO.NO (Aker Solutions) -- to hold from buy at Pareto
Other Actions
ENGI.FP (ENGIE) -- resumed outperform at BNP Paribas Exane; prior rating was outperform
Data
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