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StreetAccount Summary - EU Market Recap: FTSE 100 +0.36% to 10269.43, DAX +0.05% to 24350.28, CAC40 (0.69%) to 8056.38, STOXX 600 +0.11% to 612.79

May 11 ,2026

  • Synopsis:

    • European indices ended mostly in positive territory. US-Iran talks hit a familiar roadblock after President Trump rejected Iran's latest proposal, which appeared to fall far short of US demands. Two sides remain apart on nuclear issue with Iran reportedly offering only partial handover of HEU stockpiles to third country and much shorter enrichment moratorium, while continuing to assert right over Strait of Hormuz. Developments leave two sides at stalemate with US maintaining blockade, Iran preventing shipping through Strait of Hormuz and Trump reportedly reluctant to restart military action.

    • Quiet macro calendar in Europe: latest UK jobs report from KPMG/REC showed acceleration in drop in permanent job placements, but temp billing expanded. Wages remained soft. Politics to dominate UK after 40 Labour MPs called on UK PM Starmer to quit, health secretary Streeting reportedly delivering the same message and former deputy PM Rayner urging change. Backbencher Catherine West is gathering names to challenge Starmer if he does not set a timetable to quit - designed to persuade other candidates to come forward. She is seeking the 81 MPs needed to trigger a leadership contest.

    • On the reporting front, DACH names kicked off the session, with K+S AG (SDF.GR), Hannover Re (HNR1.GR), GEA Group (G1A.GR), Aurubis (NDA.GR), TKMS AG (TKMS.GR), Hypoport ((HYQ.GR) and adesso ((ADN1.GR) posting their most recent numbers. Elsewhere, Compass Group (CPG.LN), Victrex (VCT.LN) and Almirall (ALM.SM) also posted earnings. In M&A news, Prosus (PRX.NA) sold 15.2M shares in Delivery Hero (DHER.GR) to Aspex Management at €22.00/each, whilst in the Nordics, Altor Fund launched takeover offer for Sleep Cycle (SLEEP.SS) at SEK24.50/sh; also, CK Hutchison Holdings agreed to Vodafone's buyout of 49% stake in VodafoneThree for £4.30B (HK$45.58B) in cash

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers: Basic Resources +2.59%, Telecom +1.82%, Oil & Gas +1.18%, Utilities +1.00%, Chemicals +0.78%, Health Care +0.59%, Banks +0.23%, Financial Svcs +0.18%

      • Underperformers: Persnl & HHold Goods (2.04%), Retail (1.63%), Food & Beverage (1.53%), Media (1.35%), Autos & Parts (0.68%), Technology (0.44%), Travel & Leisure (0.41%), Construct & Mtls (0.22%), Ind Goods & Svcs +0.02%, Insurance +0.08%, Real Estate +0.10%

    • Macro:

      • US and French nationals test positive for hantavirus after leaving ship (BBC)

      • Hantavirus cruise ship passengers enter isolation facility after evacuation to UK (Guardian)

      • German defense minister Pistorius arrives in Kyiv (dw)

      • Germany in fresh push to buy Tomahawks after Trump row (FT)

      • ECB's de Guindos criticises Berlin's opposition to UniCredit's Commerzbank bid (Ansa)

      • Labour MP backs down from leadership challenge but calls on Starmer to go by September (BBC)

      • Starmer's survival speech: What he said ... and what he meant (Politico)

      • Nigel Farage Is Not as Teflon as He Thinks (BBG)

      • Spain calls for EU army (Telegraph)

    • Company news:

      • Notable Gainers

        • +18.1% DHER.GR (Delivery Hero €23.55, +3.61) -- Prosus sells 15.2M shares at €22.00/sh to Aspex Management

        • +8.9% ACAD.SS (AcadeMedia SEK102.80, +8.40) -- Q3 earnings

        • +7.8% GARO.SS (GARO SEK12.76, +0.92) -- restructures European operations

        • +6.7% ASC.LN (Asos £2.34, +0.15) -- sells Lichfield fulfilment centre to M&S for £66M

        • +6.4% IAG.LN (International Consolidated Airlines Group £4.07, +0.25) -- to repurchase outstanding €825M 1.125% senior unsecured CB due 2028

        • +5.5% DIA.IM (Diasorin €67.32, +3.50)

        • +4.7% GABR.DC (Gabriel Holding DKK268.00, +12.00)

        • +3.7% GENO.SS (Genovis SEK20.90, +0.75) -- strengthen collaboration with MGI Tech

        • +3.3% NOVO.B.DC (Novo Nordisk DKK300.00, +9.70)

        • +2.6% BAVA.DC (Bavarian Nordic A/S DKK194.60, +4.90) -- completes second tranche of share buy-back program

        • +2.3% CPG.LN (Compass Group $30.28, +0.69) -- H1 earnings

        • +1.0% ONCO.SS (Oncopeptides SEK1.28, +0.01) -- to submit Type II variation application with EMA to expand Pepaxti label

      • Notable Decliners

        • -6.6% JDC.GR (JDC Group €21.30, -1.50) -- Q1 earnings

        • -5.6% SHOE.LN (Shoe Zone £0.43, -0.03) -- H1 earnings

        • -4.9% G1A.GR (GEA Group €56.70, -2.90) -- Q1 earnings

        • -4.4% MC.FP (LVMH Moet Hennessy Louis Vuitton €451.95, -20.70) -- Armani could split 15% stake equally among preferred buyers L'Oreal, EssilorLuxottica and LVMH - La Repubblica

        • -4.1% UHR.SW (Swatch Group CHF201.90, -8.70) -- and Audemars Piguet officially confirm collaboration

        • -4.0% TKA.GR (ThyssenKrupp €10.27, -0.43)

        • -3.8% 2GB.GR (2G Energy €53.75, -2.10) -- postpones release of preliminary figures

        • -3.5% LDO.IM (Leonardo €51.29, -1.85)

        • -3.3% AEIN.GR (Allgeier €14.70, -0.50) -- Q1 earnings

        • -3.1% MTX.GR (MTU Aero Engines €295.40, -9.50) -- aims to become Europe's number 1 for drone propulsion systems -- Boersen-Zeitung, citing CFO interview

        • -2.6% HNR1.GR (Hannover Re €239.80, -6.40)

        • -1.2% ADN1.GR (adesso €58.30, -0.70) -- Q1 earnings

        • -1.2% SDF.GR (K+S AG €15.13, -0.19) -- Q1 earnings

        • -1.0% VCT.LN (Victrex £5.85, -0.06) -- H1 earnings

        • -0.6% ALNG.NO (Awilco LNG NOK3.60, -0.02) -- commences subscription period for subsequent offering

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: Agrana Beteiligungs (AGR.AV)

        • Benelux: Kendrion (KENDR.NA), KBC Group (KBC.BB), Nyxoah (NYXH.BB), Agfa-Gevaert (AGFB.BB)

        • Denmark: Coloplast (COLO.B.DC), GrønlandsBANKEN (GRLA.DC), H+H International (HH.DC), NNIT (NNIT.DC), North Media (NORTHM.DC)

        • Finland: Outokumpu (OUT1V.FH), Raisio (RAIVV.FH), Kamux (KAMUX.FH)

        • France: SES (SESG.FP), Coface (COFA.FP), Jacquet Metals (JCQ.FP)

        • Germany: Siemens Energy (ENR.GR), Munich Re (MUV2.GR), Bayer (BAYN.GR), EnBW Energie Baden-Wuerttemberg (EBK.GR), Uniper (UN0.GR), thyssenKrupp (TKA.GR), United Internet (UTDI.GR), 1&1 AG (1U1.GR), IONOS Group (IOS.GR), Salzgitter (SZG.GR), TAG Immobilien (TEG.GR), KWS SAAT (KWS.GR), Carl Zeiss Meditec (AFX.GR), Stroeer KGaA (SAX.GR), Jenoptik (JEN.GR), Grand City Properties (GYC.GR), Friedrich Vorwerk Group (VH2.GR), Duerr (DUE.GR), Deutsche EuroShop (DEQ.GR), MBB (MBB.GR), thyssenkrupp nucera (NCH2.GR), Douglas (DOU.GR), Eckert & Ziegler (EUZ.GR), INDUS Holding (INH.GR), CEWE (CWC.GR), Mutares (MUX.GR), Deutsche Rohstoff (DR0.GR), Deutsche Pfandbriefbank (PBB.GR), Medios (ILM1.GR), Villeroy & Boch (VIB3.GR), technotrans (TTR1.GR), All for One Group (A1OS.GR), Aumann (AAG.GR), Knaus Tabbert (KTA.GR), Moberg Pharma (MB8.GR), Delticom (DEX.GR)

        • Greece: Public Power Corp. (PPC.GA)

        • Italy: Recordati (REC.IM), De'Longhi (DLG.IM), CIE Automotive (CIE.SM), ENAV (ENAV.IM), Avio (AVIO.IM), Banca Sistema (BST.IM), Dexelance (DEX.IM)

        • Norway: Lerøy Seafood Group (LSG.NO), Odfjell Drilling (ODL.NO), Austevoll Seafood (AUSS.NO), Norconsult (NORCO.NO), Bonheur (BONHR.NO), LINK Mobility Group Holding (LINK.NO), Multiconsult (MULTI.NO), Cloudberry Clean Energy (CLOUD.NO), Cambi (CAMBI.NO), Nordic Mining (NOM.NO), Nordhealth (NORDH.NO), Hexagon Purus (HPUR.NO), 2020 Bulkers (2020.NO)

        • Other: Gedeon Richter (RICHT.HB), Magyar Telekom Telecommunications (MTEL.HB)

        • Spain: ACS (ACS.SM), Vocento (VOC.SM)

        • Sweden: Camurus (CAMX.SS), Coffee Stain Group (COFFEE.B.SS), Done.ai Group (DONE.SS), Arctic Falls (ARFA.SS), Ascelia Pharma (ACE.SS), Starbreeze (STAR.B.SS), Catena Media (CTM.SS)

        • Switzerland: PSP Swiss Property (PSPN.SW),

        • UK: Vodafone Group (VOD.LN), 3i Infrastructure (3IN.LN), Renew Holdings (RNWH.LN), Bytes Technology Group (BYIT.LN), On The Beach Group (OTB.LN)

      • Trading Update:

        • Benelux: TKH Group (TWEKA.NA), Alfen (ALFEN.NA)

        • DACHs: SoftwareONE Holding (SWON.SW), Molecular Partners (MOLN.SW)

        • France: Eiffage (FGR.FP), Eutelsat Communications (ETL.FP), Delta Plus Group (ALDLT.FP), Adocia (ADOC.FP)

        • UK: IMI (IMI.LN), International Workplace Group (IWG.LN), Greggs (GRG.LN), Restore (RST.LN)

      • Traffic: DFDS (DFDS.DC)

  • Data:

    • Economics:

      • Norway Apr

        • CPI +3.4% y/y vs consensus +3.6%, prior +3.6%

        • PPI +22.7% y/y vs consensus +17.5%, prior +16.9%

      • Denmark

        • Mar trade balance DKK33.8B vs consensus DKK26.2B, prior revised DKK25.2B from DKK22.2B

        • Apr CPI +1.4% y/y vs consensus +1.6%, prior +1.2%

      • Greece Mar industrial production +8.3% y/y vs consensus +2.9%, prior revised +2.3% from +1.8%

    • Markets:

      • WTI Crude (Jun 26): +$2.02 or +2.12% to $97.44

      • €-$ +0.0029 or +0.25% to 1.1783

      • £-$ +0.0082 or +0.60% to 1.3649

      • €-£ (0.0031) to 0.8632

      • S&P 500 +0.32%

      • Performance year-to-date

        • FTSE 100: +3.40%

        • DAX: (0.57%)

        • CAC: (1.14%)

        • MIB: +10.50%

        • Stoxx 600: +3.48%

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