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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.70%), DAX (0.76%), CAC40 (0.95%)

May 08 ,2026

  • Synopsis

    • European equity markets indicate a lower open; Asian equities weak while S&P 500 futures nudging higher afterhours. Crude off earlier highs that followed latest US-Iran skirmish in Strait of Hormuz. Gold and silver clawing back earlier losses. Dollar firming against Korean won, steady against majors. Bitcoin backing below $80K.

    • Markets jolted initially by another exchange of fire between US and Iran in Strait of Hormuz but volatility has ebbed after President Trump downplayed skirmish and said ceasefire remains in effect. Tensions remain high as US awaits Iranian response to 14-point peace plan. Markets seemingly pricing in agreement that ends hostilities though path expected to remain bumpy amid uncertainty whether Tehran will yield to American red lines on nuclear program and control of Strait of Hormuz.

    • Focus on updates from UK local elections; early headlines indicate Labour has lost control of seven councils in England, while Reform has gained more than 300 seats; Labour is expected to lose in Wales, ending its 27 year-long rule there (BBC ); counting to begin in Scotland at 9:00 BST. PM Starmer is facing calls to resign (Telegraph ).

    • On the macro calendar for today, of note, Germany Mar trade balance and industrial production due at 7:00 BST as well as UK Apr house price index - Halifax. On the agenda for today, in central banks, ECB's Lagarde opening remarks at 9:00CET at Bank of Spain LatAm Economic Forum 2026 and ECB's de Guindos fireside chat at 9:05CET at XII Foro Megatendencias organised by el Economista. Final day of BOE's 2026 BEAR conf includes BOE's Breeden chairing panel at 9:00BST and BOE's Bailey fireside chat at 13:20 on global imbalances. In France, President Macron attends commemoration ceremony for the 81st anniversary of the Victory of 8-May-45.

  • Politics/Macro/World News

    • Iran conflict:

      • Iran and US trade strikes in Gulf as uneasy ceasefire tested (AP, FT)

    • UK:

      • Local elections 2026: Reform gains seats and Labour suffers losses -- BBC

      • 2026 election results: latest from local, Scottish and Welsh votes -- The Guardian

      • Starmer urged to resign as Labour loses hundreds of seats to Reform -- Telegraph

    • Geopolitics:

      • Trump gives EU until 4-Jul to ink deal, extending deadline -- Bloomberg

  • Top company news

    • Earnings/updates

      • ENEL.IM (Enel) -- Q1 ordinary net income €1.94B vs StreetAccount €1.93B

      • HEIJM.NA (Royal Heijmans) -- Q1 trading update reiterates FY26 outlook

      • AIR.FP (Airbus SE) -- Apr gross orders 28 aircraft, deliveries 67 aircraft to 39 customers

      • GRF.SM (Grifols) -- Q1 net income €73M vs FactSet €68.8M [7 est, €48-124M]; FY guidance reiterated

      • LONN.SW (Lonza Group) -- qualitative Q1 business update: strong performance across CDMO business

      • FER.SM (Ferrovial) -- Q1 revenue €2.1B vs FactSet €2.10B [7 est, €2.01-2.20B]

      • EVK.GR (Evonik Industries) -- Q1 EPS €0.34 vs consensus €0.27; FY26 outlook confirmed

      • PIRC.IM (Pirelli & C.) -- Q1 net income €156.8M vs consensus €130M

      • BC8.GR (Bechtle) -- Q1 EPS €0.36 vs FactSet €0.36 [6 est, €0.32-0.41]; 2026 outlook confirmed

      • CLN.SW (Clariant) -- Q1 adj EBITDA CHF157.8M vs consensus CHF162M

      • CAT.B.SS (Catella) -- Q1 EPS (SEK0.57) vs FactSet (SEK0.03) [2 est, (SEK0.36)-0.31]

      • LAND.SW (Landis+Gyr Group) -- FY net income ($168.9M) vs FactSet ($139.9M) [4 est, ($154)-(118.9M)]

      • RHK.GR (Rhoen-Klinikum) -- Q1 net income €13.1M vs year-ago €7.3M

      • KRN.GR (Krones) -- Q1 EPS €2.17 vs FactSet €2.37 [1 est]; confirms FY26 financial targets

      • SPOL.NO (Sparebank 1 Ostlandet) -- Q1 EPS NOK4.08 vs FactSet NOK4.34 [6 est, NOK3.82-4.73]

      • AKER.NO (Aker ASA) -- Q1 NAVPS NOK1478, +77% vs year-ago NOK834

      • TOKMAN.FH (Tokmanni Group) -- Q1 EPS (€0.32) vs FactSet (€0.25) [6 est, (€0.31)-(0.20)]; outlook for 2026 unchanged

      • ECMPA.NA (Eurocommercial Properties) -- Q1 EPS €0.69 vs year-ago €0.66

      • MOL.HB (MOL Hungarian Oil & Gas) -- Q1 net income attributable Ft38.84B vs year-ago Ft152.34B

      • NVG.PL (The Navigator Co.) -- Q1 net income €17.2M vs year-ago €48.3M in Q1 update report

      • CLAS.B.SS (Clas Ohlson) -- Apr sales SEK 929M, +9% in organic growth

      • GDS.FP (Ramsay Générale de Santé) -- Q1 net income (€27.9M) vs year-ago (€54.2M)

      • CEM.IM (Cementir Holding) -- Q1 revenue €345.9M vs FactSet €348.6M [2 est, €345.1-352M]

      • ISB.IR (Íslandsbanki) -- Q1 net income ISK7.5B vs year-ago ISK5.2B

      • MOBN.SW (Mobimo Holding) -- presents 2026-2030 strategy at Capital Markets Day

      • SIFG.NA (Sif Holding) -- Q1 adj EBITDA €21.0M vs FactSet €21.4M [1 est]

    • M&A

      • ENT.LN (Entain) -- could be drawing M&A interest -- Seeking Alpha, citing Betaville (earlier, timing uncertain)

      • EQNR.NO (Equinor) -- Vista completes acquisition of Equinor's assets in Vaca Muerta - 6-K

      • ALV.GR (Allianz) -- National Bank of Greece to acquire a 30% minority equity stake in Allianz European Reliance, terms undisclosed

      • ENGI.FP (ENGIE) -- completes acquisition of UK Power Networks

      • INRN.SW (Interroll Holding) -- acquires Royal Apollo Group; terms undisclosed

    • Other

      • LOGN.SW (Logitech International) -- Logitech completes $1.6B share buyback and launches new $1.4B program

      • IFX.GR (Infineon Technologies) -- US International Trade Commission affirms Dec-25 determination that Innoscience infringed an Infineon GaN patent; orders import and sales bans against Innoscience

      • HO.FP (Thales) -- awarded $15.9M Defense Logistics Agency contract (yesterday, post-close)

      • LDO.IM (Leonardo) -- Wyser-Pratte comments on Leonardo SpA AGM vote, says plans to request independent investigation

  • Key rating changes

    • Upgrades

      • AMS.SW (ams-OSRAM) -- to neutral from underweight at JPMorgan

      • DBK.GR (Deutsche Bank) -- to outperform from neutral at Oddo

      • PRY.IM (Prysmian) -- to buy from hold at Deutsche Bank

    • Downgrades

      • RHM.GR (Rheinmetall) -- to neutral from overweight at JPMorgan

      • LHA.GR (Deutsche Lufthansa) -- to underweight from equal weight at Barclays

      • SLHN.SW (Swiss Life Holding) -- to sell from neutral at UBS

      • HFG.GR (HelloFresh) -- to neutral from buy at UBS

      • SMHN.GR (SÜSS MicroTec) -- to hold from buy at Deutsche Bank

      • ODF.NO (Odfjell) -- to hold from buy at SEB

      • WKP.LN (Workspace Group) -- to underweight from overweight at Barclays

      • V1NC.GR (Vincorion SE) -- to neutral from outperform at Oddo

    • Initiations

      • NXT.IM (Next Geosolutions Europe) -- buy at Kepler Cheuvreux

      • SDLF.LN (Standard Life) -- equal-weight at Morgan Stanley

      • ZIG.LN (Zigup Plc) -- buy at Berenberg

  • Data

    • Nikkei (0.36%) to 62605.99

    • Hang Seng (1.02%) to 26355.59

    • Shanghai Composite (0.09%) to 4176.48

    • S&P futures +18.8 vs prior close of 7363.0

    • €-$ +0.0011 or +0.09% to 1.1737

    • $-¥ (0.10) or (0.06%) to 156.84

    • €-¥ +0.07 or +0.04% to 184.07

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.
Please refer to "Terms Of Use".

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