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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.04%) to 10265.32, DAX (1.62%) to 23954.93, CAC40 (0.95%) to 7979.92, STOXX 600 (1.01%) to 606.63

May 12 ,2026

  • Synopsis:

    • European equity markets closed lower, but off worst levels. Retail, financials, property and industrials the biggest decliners; luxury, energy, chemicals and healthcare outperform. Follows mixed performance on Monday. US equities down in Tuesday midday trading. Follows stocks finishing mostly higher on Monday that saw S&P 500, Nasdaq end at fresh record closes.

    • Sentiment dented by latest setback in US-Iran negotiations with path forward uncertain after President Trump said ceasefire on life support. Trump's rejection of Iran's proposal underlined still-large gaps between two sides with Tehran refusing to meaningfully cede on nuclear issue and asserting its right over Strait of Hormuz. Market still seems skeptical about full resumption of war though Trump indicated he may revive an expanded naval mission in Strait of Hormuz. However, it remains unclear whether this will alter the status quo. AI may be another overhang on risk sentiment as OpenAI reportedly entering IT services sector. Also, South Korean presidential policy chief suggested a citizens' dividend funded by taxes on AI profits.

    • In the UK, politics to dominating the news cycle with three senior ministers telling PM Starmer to go after his reset speech on Monday failed to shift sentiment among MPs.

    • On macro data front, UK retail sales updates from BRC and Barclaycard saw big drop in April. EY said Iran war could push UK economy on the brink of recession. Final German inflation data unchanged from flash at 2.9% y/y. ZEW sentiment survey for Eurozone and Germany continues to recover after taking a hit after Iran conflict.

    • Busy morning for earnings with initial focus turning to Banks and Insurance with KBC Group (KBC.BB), Mediobanca (MB.IM), Munich Re (MUV2.GR) and Banca Monte dei Paschi di Siena (BMPS.IM) reporting Q1 earnings. In Healthcare, Bayer AG (BAYN.GR), Coloplast (COLO.B.DC), Carl Zeiss Meditec (AFX.GR) and Camurus (CAMX.SS) updated investors with their latest numbers. Prosus NV (PRX.NA) issued a disappointing voluntary FY26 business update, dragging the Tech sector lower whilst SoftwareONE Holding (SWON.SW) and Jenoptik (JEN.GR) buck the lower trend after positive Q1 earnings reports. In telecom, Vodafone Group (VOD.LN), SES (SESG.FP) and United Internet (UTDI.GR) are amongst others in the region updating investors. In the Energy and Utilities, Siemens Energy (ENR.GR) confirmed its Q2 earnings and new FY26 outlook as per the 23-Apr update, whilst Uniper (UN0.GR) released Q1 earnings. In Basic resources and industrials, ThyssenKrupp (TKA.GR), Salzgitter (SZG.GR), Outokumpu (OUT1V.FH), DSV A/S (DSV.DC), IMI (IMI.LN) issued earnings. Other notable companies updating investors today include Imperial Brands (IMB.LN), Wizz Air Holdings (WIZZ.LN) and Greggs (GRG.LN).

    • In M&A, EQT (EQT.SS) further improves the final offer for Intertek Group (ITRK.LN) to £61.077/sh. The Final Proposal follows EQT's third increased proposal submitted to Intertek on 5-May-26 at £58.00 in cash per Intertek share

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 11-May to 15-May attached) Sunrise Communications (SUNN.SW), Adecco Group (ADEN.SW), Snam (SRG.IM), SAP (SAP.GR), Siemens (SIE.GR), Allianz (ALV.GR), Deutsche Telekom (DTE.GR), E.ON (EOAN.GR), RWE (RWE.GR), Hapag-Lloyd (HLAG.GR), Merck KGaA (MRK.GR), Brenntag (BNR.GR), RTL Group (RRTL.GR), Porsche Automobil Holding (PAH3.GR), Alstom (ALO.FP), Verbund (VER.AV), Wienerberger (WIE.AV), ABN AMRO Bank (ABN.NA), InPost (INPST.NA), and NKT (NKT.DC) will be amongst other names to update investors, whilst the macro-calendar releases will include France Apr final CPI, Q1 unemployment rate, Eurozone Q1 GDP - 2nd estimate, Mar industrial production, Sweden Apr final CPI, Portugal Apr final CPI, Netherlands Apr final CPI, Finland Apr CPI.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Food, Beverage and Tobacco +1.67%, Health Care +0.80%, Consumer Products and Services +0.38%, Personal Care Drug and Grocery Stores (0.10%), Energy(0.22%), Chemicals (0.23%), Travel & Leisure (0.43%), Financial Svcs (0.74%), Autos & Parts (0.83%),

      • Underperformers:

        • Technology (3.13%), Retail (3.06%), Construct & Mtls (1.87%), Banks (1.86%), Ind Goods & Svcs (1.85%), Insurance (1.70%), Real Estate (1.62%), Basic Resources (1.49%), Utilities (1.14%), Telecom (1.13%),

    • Macro/Peripheral markets:

      • Geopolitics

        • No sign of larger hantavirus outbreak, says UN health agency - BBC

        • Russia cuts growth forecast as Putin's war economy runs out of momentum - FT

        • Hormuz standoff drives oil higher as Iran-US peace hopes ebb - Reuters

        • Trump Faces Emboldened Xi in China as Iran War Clips US Leverage - Bloomberg

      • EU

        • New EU medicines law aims to bypass India, China on key drugs - Politico

        • EU doubles down on carbon tax for international flights - Politico

        • EU countries spend barely half of €577bn Covid stimulus - FT

        • EU plans new rules targeting addictive design on TikTok, Meta, to protect children - Reuters

      • UK

        • More than 100 Labour MPs sign letter saying it's 'no time for a leadership contest' as Starmer refuses to quit - The Guardian

        • UK long-term borrowing costs dip from 28-year high after Starmer allies back PM - The Guardian

        • Britain risks Truss-style bond market meltdown, investors warn - The Telegraph

        • Jess Phillips resigns after PM vows to fight on - The Times

        • Green Party admits Polanski may have failed to pay council tax - BBC

      • France

        • Bardella sees 'common ground' with German chancellor - Politico

      • Germany

        • Germany must pull itself together, Merz tells unions as jeers ring out - Reuters

        • CDU head of government Wegner wants to tax the wealthy more heavily - Handelsblatt

    • Company news:

      • Trading Higher:

        • +14.7% FDEV.LN (Frontier Developments £3.83, +0.49) -- FY trading update

        • +11.0% CCT.LN (Character Group £2.70, +0.27) -- H1 earnings

        • +9.3% SWON.SW (SoftwareONE Holding CHF7.88, +0.67) -- Q1 earnings

        • +7.7% JEN.GR (Jenoptik €39.44, +2.78) -- Q1 earnings

        • +7.5% SIGHT.FP (GenSight Biologics €0.09, +0.01) -- study publication

        • +7.1% SEE.LN (Seeing Machines £0.04, -0.00) -- order

        • +6.9% ITRK.LN (Intertek Group £53.40, +3.45) -- EQT improved bid at £61.077/sh

        • +6.4% GRG.LN (Greggs £16.13, +0.98) -- trading update

        • +4.9% CSH.GR (CENIT €6.86, +0.32) -- Q1 earnings

        • +4.5% DSV.DC (DSV A/S DKK1,609.50, +69.00) -- CMD update

        • +4.5% KENDR.NA (Kendrion €19.62, +0.84) -- Q1 earnings

        • +4.2% IPCO.SS (International Petroleum Corp SEK251.00, +10.20) -- Arctic Securities upgrade

        • +4.1% EMBRAC.B.SS (Embracer Group SEK69.22, +2.78)

        • +4.0% BAYN.GR (Bayer AG €38.63, +1.50) -- Q1 earnings

        • +4.0% SESG.FP (SES €7.74, +0.30) -- Q1 earnings

        • +3.9% NWF.LN (NWF Group £1.34, +0.05) -- FY trading update

        • +3.7% SZG.GR (Salzgitter €53.00, +1.90) -- Q1 earnings

        • +3.3% FING.B.SS (Fingerprint Cards SEK14.62, +0.46) -- global partnership with AdvanIDe

        • +3.3% PAT.GR (Patrizia €7.56, +0.24) -- Q1 earnings

        • +3.1% AKRBP.NO (Aker BP NOK344.90, +10.40) -- Arctic Securities upgrade

        • +3.0% BITTI.FH (Bittium €34.00, +1.00)

        • +2.8% TECN.SW (Tecan Group CHF133.20, +3.70) -- Q1 update

        • +2.6% RAIVV.FH (Raisio €2.60, +0.07) -- Q1 earnings

        • +2.1% BRNL.NA (Brunel International €7.40, +0.15) -- CMD update

        • +2.0% BAVA.DC (Bavarian Nordic A/S DKK198.40, +3.80) -- contract

        • +1.6% EQNR.NO (Equinor NOK351.30, +5.40) -- Arctic Securities upgrade

      • Trading Lower:

        • -16.7% OTB.LN (On The Beach Group £1.42, -0.28) -- H1 earnings

        • -15.2% STAR.B.SS (Starbreeze SEK0.11, -0.02) -- Q1 earnings

        • -13.0% ILM1.GR (Medios €12.90, -1.92) -- Q1 earnings

        • -11.9% ELG.GR (Elmos Semiconductor €169.80, -23.00) -- holders place 1.86M @ €176.00/sh

        • -10.7% MIDW.LN (Midwich Group £1.43, -0.18) -- AGM statement

        • -10.5% TTR1.GR (technotrans €30.70, -3.60) -- Q1 earnings

        • -10.2% MBB.GR (MBB €197.20, -22.10) -- Q1 earnings

        • -8.8% CAMX.SS (Camurus SEK500.50, -48.00) -- Q1 earnings

        • -7.7% VOD.LN (Vodafone Group £1.10, -0.09) -- FY earnings

        • -7.2% MARS.LN (Marston's £0.48, -0.04) -- H1 earnings

        • -6.9% HOT.GR (Hochtief €510.50, -37.50)

        • -6.5% KAMUX.FH (Kamux €1.60, -0.11) -- Q1 earnings

        • -5.8% MUV2.GR (Munich Re €468.70, -29.00) -- Q1 earnings

        • -5.7% PRX.NA (Prosus €38.47, -2.36) -- FY business update

        • -3.6% KNOS.LN (Kainos Group £7.81, -0.30)

        • -3.5% VIB3.GR (Villeroy & Boch €16.45, -0.60) -- Q1 earnings

        • -3.5% KBC.BB (KBC Group €112.60, -4.10) -- Q1 earnings

        • -3.4% BARC.LN (Barclays £4.14, -0.15)

        • -3.3% A1OS.GR (All for One Group €34.80, -1.20)

        • -2.2% NEM.GR (Nemetschek €60.35, -1.35)

        • -2.2% KWS.GR (KWS SAAT SE & Co. KGaA €76.20, -1.70) -- 9M earnings

        • -1.6% BGO.LN (Bango £0.62, -0.01) -- executive chair steps down

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: Verbund (VER.AV), Wienerberger (WIE.AV), Semperit Holding (SEM.AV), BKS Bank (BKS.AV), Addiko Bank (ADKO.AV)

        • Benelux: ABN AMRO Bank (ABN.NA), InPost (INPST.NA), Shurgard Self Storage (SHUR.BB), Proximus (PROX.BB)

        • Denmark: NKT (NKT.DC), Copenhagen Airports (KBHL.DC), H. Lundbeck (HLUN.B.DC), FLSmidth & Co. (FLS.DC), TORM (TRMD.A.DC), Bavarian Nordic (BAVA.DC), RTX (RTX.DC)

        • Finland: Citycon (CTY1S.FH), Qt Group (QTCOM.FH), Marimekko (MEKKO.FH), Relais Group (RELAIS.FH)

        • France: Alstom (ALO.FP), Vallourec (VK.FP), Valneva (VLA.FP)

        • Germany: Siemens (SIE.GR), Allianz (ALV.GR), Deutsche Telekom (DTE.GR), E.ON (EOAN.GR), RWE (RWE.GR), Hapag-Lloyd (HLAG.GR), Merck KGaA (MRK.GR), Brenntag (BNR.GR), RTL Group (RRTL.GR), Porsche Automobil Holding (PAH3.GR), LEG Immobilien (LEG.GR), Auto1 Group (AG1.GR), Bilfinger (GBF.GR), TUI Group (TUI1.GR), Verbio (VBK.GR), Sixt (SIX2.GR), CECONOMY (CEC.GR), SMA Solar Technology (S92.GR), Hamburger Hafen und Logistik (HHFA.GR), Wüstenrot & Württembergische (WUW.GR), tonies (TNIE.GR), ProSiebenSat.1 Media (PSM.GR), JOST Werke (JST.GR), MLP (MLP.GR), PNE (PNE3.GR), GRENKE (GLJ.GR), EnergieKontor (EKT.GR), Amaroq (Q11.GR), First Sensor (SIS.GR), init innovation in traffic systems (IXX.GR), ProCredit Holding (PCZ.GR), SFC Energy (F3C.GR), OVB Holding (O4B.GR), Lang & Schwarz (LUS1.GR), HomeToGo (HTG.GR), Hawesko Holding (HAW.GR), GESCO (GSC1.GR), Bertrandt (BDT.GR), PWO (PWO.GR), CENIT (CSH.GR), SCHOTT Pharma (1SXP.GR)

        • Italy: Snam (SRG.IM), Infrastrutture Wireless Italiane (INW.IM), Hera (HER.IM), Rai Way (RWAY.IM), Italmobiliare (ITM.IM), WIIT (WIIT.IM), Fiera Milano (FM.IM), Arnoldo Mondadori Editore (MN.IM), Esprinet (PRT.IM), Digital Bros (DIB.IM)

        • Norway: Mowi (MOWI.NO), AF Gruppen (AFG.NO), Arendals Fossekompani (AFK.NO), Endur (ENDUR.NO), Bouvet (BOUV.NO), Kid (KID.NO), Akastor (AKAST.NO), Elmera Group (ELMRA.NO), Hexagon Composites (HEX.NO), NRC Group (NRC.NO), Saga Pure (SAGA.NO), Capsol Technologies (CAPSL.NO)

        • Spain: Gestamp Automoción (GEST.SM), HBX Group International (HBX.SM)

        • Sweden: Bergman & Beving (BERG.B.SS), Ferronordic (FNM.SS), GARO (GARO.SS), Cinclus Pharma Holding (CINPHA.SS), Oncopeptides (ONCO.SS), Precise Biometrics (PREC.SS), Fingerprint Cards (FING.B.SS)

        • Switzerland: Sunrise Communications (SUNN.SW), Adecco Group (ADEN.SW), Bajaj Mobility (BMAG.SW)

        • UK: Avon Technologies (AVON.LN), Vertu Motors (VTU.LN)

      • Trading Update:

        • Benelux: InPost (INPST.NA), DEME Group (DEME.BB), Bekaert (BEKB.BB)

        • DACHs: Zurich Insurance Group (ZURN.SW)

        • France: Eurazeo (RF.FP), Infotel (INF.FP), Innate Pharma (IPH.FP)

        • Nordics: Rapala VMC (RAP1V.FH)

        • Southern Europe: Buzzi SpA (BZU.IM), Geox (GEO.IM)

        • UK: Spirax Group (SPX.LN), TP ICAP Group (TCAP.LN)

      • Traffic: Flughafen Zuerich (FHZN.SW), Aeroflot-Russian Airlines (AFLT.RU)

      • CMD/Events: SAP (SAP.GR) Sapphire, Rational (RAA.GR) IR Follow-up Talk Q1 (registration link), Bertrandt (BDT.GR), Fevara (FVA.LN) Yellowstone Advisory Private Investor evening (registration link)

  • Data:

    • Economics:

      • UK Apr LFL retail sales monitor (3.4%) vs consensus +0.8%, prior +3.1% - BRC

      • Germany

        • Apr CPI +2.9% y/y vs preliminary +2.9%

        • May ZEW survey

          • Economic sentiment indicator (10.2) vs consensus (19.8), prior (17.2)

          • Current situation (77.8) vs consensus (77.5), prior (73.7)

      • Switzerland Apr PPI (2.0%) y/y vs consensus (2.6%), prior (2.7%)

      • Italy Mar industrial production +1.5% y/y vs consensus +0.7%, prior revised +0.4% from +0.5%

    • Markets:

      • WTI Crude (Jun 26): +$3.97 or +4.05% to $102.04

      • €-$ (0.0053) or (0.45%) to 1.1732

      • £-$ (0.0090) or (0.66%) to 1.3521

      • €-£ +0.0020 to 0.8678

      • S&P 500 (0.85%)

      • Performance year-to-date

        • FTSE 100: +3.36%

        • DAX: (2.19%)

        • CAC: (2.08%)

        • MIB: +9.01%

        • Stoxx 600: +2.44%

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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