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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.99% to 10432.34, DAX +1.38% to 24737.24, CAC40 +1.70% to 8117.42, STOXX 600 +1.46% to 620.29

May 20 ,2026

  • Synopsis:

    • European equity markets ended broadly higher Wednesday. Follows mostly firmer performance on Tuesday. Tech, basic resources, industrial goods/services, banks, travel & leisure among the top sector performers. Media, food/beverage the main laggards.

    • WTI and Brent both ~(5%) lower following slight declines yesterday. The WTI July contract becomes the front-month today. Oil and rates down on latest (vague) headlines about diplomatic traction in Middle East, helping broader risk sentiment; reports about possible face-to-face talks in Islamabad, and Trump said talks with Iran in their "final stages" (but also "we'll see what happens").

    • Equities finding bit of support from yield stabilization, particularly UK Gilts with help from cooler UK inflation data. Latest oil pullback likely helping as well. Bond market broadly remains in focus with discussions continuing to feature worries about fiscal trajectories (particularly in UK and Japan) and higher term premium being baked into long-end yields. German 10-year hit highest level since 2011 in prior session.

    • Focus today will be on earnings from NVDA after the US close. Company expected to deliver another big beat and raise and highlight the insatiable AI compute demand theme that up until last Thursday had been the fundamental driver of a big momentum rally.

    • On macro data front, UK inflation surprised on the downside in April, though analysts expect it to accelerate in the months ahead. Survey showed UK pay settlements easing in April, in line with yesterday's soft labor market update. BoE rate hike expectations moderated after recent economic updates. Market now pricing in less than 20% chance for a June hike versus 50% prior to data. German PPI slightly ahead of expectations, underpinning inflation expectations. Final Eurozone CPI unchanged from flash at 3.0% y/y. Reuters cited sources saying case for a ECB rate hike in June is nearly sealed but the bank is likely to be noncommittal about any further move, looking to temper bets for a quick follow-up step in July.

    • In the UK, Severn Trent (SVT.LN), Marks & Spencer Group (MKS.LN) and Experian (EXPN.LN) among those that reported earnings. In France Euronext (ENX.FP) reported Q1 earnings. In Nordics, Orkla (ORK.NO), Salmar (SALM.NO) and Embracer Group (EMBRAC.B.SS) updated investors. In M&A, KNDS announced the sale of 5.8M shares in Renk (R3NK.GR), representing 5.80% of the groups' share capital. Elsewhere, EDP-Energias de Portugal (EDP.PL) announced that EDP-Energias do Brasil will acquire EDP Renováveis Brasil (EDPR.PL) with equity value of EDP Renováveis Brasil in the transaction ~ R$4.1B (~€0.7B), implying EV ~ €1.5B.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Travel & Leisure +2.95%, Technology +2.90%, Banks +2.69%, Ind Goods & Svcs +2.32%, Basic Resources +2.32%, Real Estate +1.82%, Construct & Mtls +1.64%, Retail +1.56%

      • Underperformers:

        • Media (1.20%), Food & Beverage (0.14%), Oil & Gas (0.00%), Telecom +0.06%, Chemicals +0.20%, Utilities +0.51%, Insurance +0.62%, Health Care +0.63%, Autos & Parts +0.87%, Persnl & HHold Goods +0.94%, Financial Svcs +1.37%

    • Macro:

      • ECB

        • ECB June rate hike case is nearly sealed but July is fully open, sources say -- Reuters

      • UK

        • Starmer scraps fuel duty rise as Badenoch accuses PM of 'buying dirty Russian oil' -- Sky News

        • Bank of England has time to gauge impact of Iran war, Bailey says -- Reuters

        • Makerfield by-election will take place on 18 June -- Sky News

        • Supermarkets hit back over pressure to cap price of milk, bread and eggs -- BBC; Supermarket bosses say food price caps would be 'preposterous' and 'idiotic' -- Independent

      • France

        • French lawmakers narrowly approve Macron's former chief of staff to govern the central bank -- France24

        • Moulin Says Deficit Situation Serious, Not Catastrophic -- Bloomberg

      • Italy

        • Italian-Indian relations raised to level of special strategic partnership - Meloni -- ANSA

      • Germany

        • AfD risks obtaining first regional government in Saxony-Anhalt -- Handelsblatt

    • Company news:

      • Notable Gainers

        • +21.2% SHOE.LN (Shoe Zone £0.52, +0.09) -- Chair discloses purchase of 1.2M shares

        • +18.6% IQE.LN (IQE £0.36, +0.06)

        • +15.1% RS1.LN (RS Group plc £6.50, +0.91) -- FY earnings; £100M share buyback

        • +9.6% AUS.GR (AT & S Austria Technologie & Systemtechnik €105.80, +9.80)

        • +9.3% YPSN.SW (Ypsomed Holding CHF343.00, +28.40) -- FY earnings

        • +7.1% MKS.LN (Marks & Spencer Group £3.33, +0.23) -- FY earnings

        • +6.0% ESNT.LN (Essentra £0.85, +0.05) -- 4M trading update; acquires Boteco Srl for initial cash of €7.4M

        • +5.8% IDHC.LN (Integrated Diagnostics Holdings £0.56, +0.03) -- Q1 earnings

        • +4.9% ENX.FP (Euronext €149.30, +6.90) -- Q1 earnings

        • +4.7% MAIRE.IM (MAIRE €14.38, +0.66) -- new awards for ~€1.3B

        • +4.5% EDPR.PL (EDP Renovaveis €14.00, +0.62) -- incorporates EDP Renováveis Brasil

        • +4.5% WIHN.SW (WISeKey International Holding CHF12.60, +0.60)

        • +4.4% INTRUM.SS (Intrum SEK18.95, +0.83) -- Investor presentation related to SEK7.5BV capital raise

        • +4.0% KLR.LN (Keller Group £23.00, +0.90) -- AGM trading update

        • +3.0% F3C.GR (SFC Energy €22.35, +0.65) -- €2.8M order

        • +2.9% SVT.LN (Severn Trent £31.00, +0.88) -- FY earnings

        • +2.8% KAR.SS (Karnov Group SEK76.50, +2.10) -- two repurchase programmes for maximum aggregate of SEK 750M

        • +2.8% AALB.NA (Aalberts €36.26, +0.98) -- initiated overweight at Barclays

        • +2.6% CFEB.BB (Cie d'Entreprises CFE €12.00, +0.30) -- Q1 revenue; Degroof upgrade

        • +2.6% ISP.IM (Intesa Sanpaolo €6.08, +0.14) -- prepares formal offer for Spanish wealth manager Singular Bank as Warburg Pincus seeks sale -- FT

        • +2.4% POXEL.FP (Poxel €0.26, +0.01) -- Q1 revenue

        • +2.4% ONCO.SS (Oncopeptides SEK1.82, +0.04) -- Window-of-Opportunity study trial in glioblastoma approved in Norway

        • +1.3% NOKIA.FH (Nokia €11.88, +0.15) -- Nokia at JP Morgan Global Technology, Media, and Communications conference

        • +0.7% RELAIS.FH (Relais Group €15.20, +0.10) -- CMD update

        • +0.6% HVO.LN (hVIVO plc £0.08, -0.00) -- to host CMD

        • +0.2% COA.LN (Coats Group £0.81, -0.00) -- 4M trading update

      • Notable Decliners

        • -15.8% HEAD.LN (Headlam Group £0.33, -0.06) -- 4M trading update

        • -7.0% ENSU.NO (Ensurge Micropower NOK0.65, -0.05) -- Q1 earnings

        • -5.9% ORK.NO (Orkla NOK106.50, -6.80) -- Q1 earnings

        • -5.2% LXS.GR (Lanxess €17.18, -0.93) -- Jefferies downgrade

        • -4.9% GEMD.LN (Gem Diamonds £0.05, -0.00) -- Q1 trading update

        • -3.4% WSTEP.NO (Webstep $16.10, -0.55) -- Q1 earnings

        • -3.4% EXPN.LN (Experian £25.79, -0.91) -- FY earnings; new $1B share buyback programme

        • -2.6% MAB1.LN (Mortgage Advice Bureau £5.28, -0.14) -- AGM trading update

        • -2.4% BAS.GR (BASF SE €48.73, -1.26) -- to sell Silicates business to PQ; terms not disclosed

        • -0.6% FDR.SM (Fluidra €18.54, -0.12) -- Barclays downgrade

        • -0.6% IPX.LN (Impax Asset Management Group £0.99, -0.01) -- H1 earnings

        • -0.4% PTEC.LN (Playtech £3.72, -0.01) -- AGM trading update

        • -0.4% LAGR.B.SS (Lagercrantz Group SEK250.80, -1.00) -- Handelsbanken downgrade; Pareto downgrade

        • -0.3% IHP.LN (Integrafin Holdings £3.32, -0.01) -- H1 earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: Flughafen Wien (FLU.AV), SBO (SBO.AV)

        • Denmark: TCM Group (TCM.DC), BioPorto (BIOPOR.DC)

        • France: Compagnie des Alpes (CDA.FP)

        • Germany: Asmodee Group (2EX.GR), Suedzucker (SZU.GR), 2G Energy (2GB.GR), Nabaltec (NTG.GR), NFON (NFN.GR)

        • Norway: B2 Impact (B2I.NO), Panoro Energy (PEN.NO), Måsøval (MAS.NO), Grieg Seafood (GSF.NO), Selvaag Bolig (SBO.NO), Omda (OMDA.NO), Norse Atlantic (NORSE.NO)

        • Other: Pepco Group (PCO.PW), Moscow Exchange MICEX-RTS PJSC (MOEX.RU)

        • Southern Europe: Assicurazioni Generali (G.IM), Multitude (FRU.MIL.IM), CrediaBank (CREDIA.GA)

        • Sweden: L E Lundbergföretagen (LUND.B.SS), BTS Group (BTS.B.SS), Fasadgruppen Group (FG.SS), Paxman (PAX.SS)

        • UK: BT Group (BT.A.LN), Sage Group (SGE.LN), ICG (ICG.LN), LondonMetric Property (LMP.LN), Auto Trader Group (AUTO.LN), Investec (INVP.LN), EasyJet (EZJ.LN), QinetiQ Group (QQ.LN), AJ Bell (AJB.LN), Tate & Lyle (TATE.LN), Nationwide Building Society (NBS.LN), Great Portland Estates (GPE.LN), Young & Co.'s Brewery (YNGA.LN), Ondine Biomedical (OBI.LN), Braemar (BMS.LN)

      • Trading Update:

        • Benelux: EVS Broadcast Equipment (EVS.BB), Ion Beam Applications (IBAB.BB), Banqup Group (BANQ.BB)

        • DACHs: Swiss Life Holding (SLHN.SW), STRABAG (STR.AV)

        • France: GENFIT (GNFT.FP), Quadient (QDT.FP), Claranova (ALCLA.FP)

        • UK: Smiths Group (SMIN.LN), ConvaTec Group (CTEC.LN), Sabre Insurance Group (SBRE.LN)

      • CMD/Events: Stellantis (STLAM.IM), AlzeCure Pharma (ALZCUR.SS), Koninklijke Heiman's (HEIJM.NA), Digia (DIGIA.FH), Eagle Eye Solutions Group (EYE.LN), UCB (UCB.BB) Degroof Petercam virtual call, Ascelia Pharma (ACE.SS) ABG Investor Day

  • Data:

    • Economics:

      • Eurozone Apr CPI +3.0% y/y vs preliminary +3.0%; +1.0% m/m vs preliminary +1.0%

        • Apr core CPI +2.2% y/y vs preliminary +2.2%

      • UK Apr Output PPI +4.0% y/y vs consensus +2.8% and prior revised +3.0% from +2.6%

      • UK Apr CPI +2.8% y/y vs consensus +3.0% and prior +3.3%

      • Germany Apr PPI +1.7% y/y vs consensus +1.5% and prior (0.2%)

      • Austria Apr CPI +3.4% y/y vs preliminary +3.3%

      • Netherlands Apr CPI +2.8% vs preliminary +2.8%

      • Denmark Q1 Preliminary GDP +5.9% y/y vs consensus +3.0% and prior +3.1%

    • Markets:

      • WTI Crude (Jul 26): ($5.08) or (4.88%) to $99.07

      • €-$ +0.0020 or +0.17% to 1.1628

      • £-$ +0.0052 or +0.39% to 1.3449

      • €-£ (0.0021) to 0.8646

      • S&P 500 +0.90%

      • Performance year-to-date

        • FTSE 100: +5.04%

        • DAX: +1.01%

        • CAC: (0.39%)

        • MIB: +9.43%

        • Stoxx 600: +4.75%

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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