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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.38%, DAX +0.85%, CAC40 +0.77%

May 22 ,2026

  • Synopsis

    • European indices are pointing to a higher open with Asian equities trading higher Friday. Japan outperforming with SoftBank extending Thursday's big rally. Taiwan semis seeing broad gains. Hong Kong leading China markets amid rally in pure play AI names ahead of index review.

    • US equities were higher in Thursday trading as stocks reversed earlier declines though finished a bit off best levels. Semis/memory firmer overall; big tech mostly stronger. Other outperformers included networking/communications, apparel, multis, pharma/biotech, industrial metals, media, E&Cs, cruise lines, and airlines. Most-shorted names, small-caps, retail-investor favorites fared well.

    • Media reports noted signs of progress in US-Iran negotiations with gaps between two sides said to have narrowed (Reuters, Bloomberg). Iran has yet to formally respond to US proposal though Secretary of State Rubio noted some good signs in talks. Details murky with Iranian press circulating report by Al-Arabiya claiming draft includes end to conflict on all fronts, freedom of navigation in Strait of Hormuz under joint monitoring mechanism,

    • In Central Banks, ECB's Lane opening address at 3:15CET at 2026 Asian Monetary Policy Forum (AMPF) and Riksbank's Hjelm will give his first speech as a member of the Executive Board at 8:00CET, title 'my view on monetary policy in an uncertain world'.

    • Macro data today: Economic: Germany Q1 final GDP, Jun consumer confidence - GfK, business climate - IFO, France May business survey, UK Apr retail sales, public sector borrowing, May consumer confidence - GfK, Denmark Apr retail sales, Ireland Apr PPI

    • Earnings reported so far today: (RET.BB) Retail Estates reports Q4 EPS €8.22 vs year-ago €7.29. (DOFG.NO) DOF Group reports Q1 net income $69M vs FactSet $92.4M. (IWS.NO) Integrated Wind Solutions reports Q1 net income attributable NOK3.1M vs year-ago NOK2.3M. (REC.IM) CVC Fund IX and Groupe Bruxelles Lambert announce €51.29/share offer for Recordati in a deal valued €10.7B

    • In M&A: (BAER.SW) Julius Baer Group 4M trading update: AuM CHF 528B vs consensus CHF535.2B; guides FY26

  • Politics/Macro/World News

    • Britons hold their nerve but turn warier about big spending plans, GfK says (Reuters )

    • UK officials discuss fresh aid cuts to help fund higher defence spending (FT )

  • Top company news

    • Earnings/updates

      • STLAM.IM (Stellantis) -- presents FaSTLAne 2030 targets at Investor Day; revenue growth to €190B by 2030

      • GNFT.FP (GENFIT) -- reports H1 revenue €9.6M vs year-ago €2.8M

      • BAER.SW (Julius Baer Group) -- 4M trading update: AuM CHF 528B vs consensus CHF535.2B; guides FY26

      • QDT.FP (Quadient) -- reports Q1 revenue €243M vs FactSet €251.0M [1 est]

      • CDA.FP (Compagnie des Alpes) -- reports H1 net income €144.6M, +8% vs year-ago €134.3M; reiterates FY guidance

      • BLC.FP (Bastide Le Confort Medical) -- reaffirms FY26 revenue guidance at least €510M vs FactSet €510M [1 est]; sells New Medical Concept, the holding company of EXPERF group, to Sapio Gro

    • M&A

      • BLC.FP (Bastide Le Confort Medical) -- reaffirms FY26 revenue guidance at least €510M vs FactSet €510M [1 est]; sells New Medical Concept, the holding company of EXPERF group, to Sapio Gro

      • ENX.FP (Euronext) -- rules out possibility of merger with Deutsche Boerse in the near future - Reuters

      • RAND.NA (Randstad) -- Randstad, LTM intend to enter strategic partnership

      • MUX.GR (Mutares SE & Co KGaA) -- Mutares SE & Co KGaA sells remaining 46.3% stake in Terranor Group through DNB Carnegie and SB1 Markets

      • FBU.NZ (Fletcher Building) -- reports sale of construction division to VINCI is now unconditional, completion set for 29-May

      • Stonepeak Infrastructure Partners nearing deal to acquire aged-care operator Estia Health - The Australian

      • Lone Star Funds in early stages of exploring sale of IKB Deutsche Industriebank - Bloomberg

    • Healthcare

      • TEVA (Teva Pharmaceutical) -- announces EMA accepts MAA for TEV-'749 for treatment of schizophrenia in adults

      • ROP.SW (Roche Holding) -- Roche Holding's Foundation Medicine announces FDA approval for FoundationOneCDx as companion diagnostic for TEPMETKO

      • RIGL (Rigel Pharmaceuticals) -- Rigel Announces Oral and Poster Presentations at the 2026 ASCO Annual Meeting and EHA2026 Congress

      • SOBI.SS (Swedish Orphan Biovitrum) -- Sobi announces topline results from the pivotal Phase 3 REDUCE 2 study of pozdeutinurad in gout; both doses meet primary endpoint

      • SDZ.SW (Sandoz Group) -- calls on European Commission to launch investigation into Chinese imports of amoxicillin trihydrate - FT

      • AMP.IM (Amplifon) -- to execute share capital increase

      • 13.HK (Hutchmed) -- to present savolitinib phase II gastric/GEJ MET amp data at ASCO 2026

      • BINV.SS (BioInvent International) -- announces data with TNFR2 Antibody BI-1808 and KEYTRUDA in advanced ovarian cancer at ASCO

      • 9UA.GR (NervGen Pharma) -- announces common shares and warrants offering of indeterminate size

    • Other

      • ML.FP (Cie Generale des Etablissements Michelin SA) -- Michelin publishes global tire market data for April

      • BT.A.LN (BT Group) -- Bharti Enterprises seeking to increase stake in BT to as much as 29.9% - Reuters

      • ELUX.B.SS (Electrolux) -- Group announces terms for the fully underwritten rights issue of SEK 9.062B

      • LOGN.SW (Logitech International) -- SEC filing: 10-K

      • STLAM.IM (Stellantis) -- Transcript Intelligence: Stellantis Investor Day

      • VK.FP (Vallourec) -- signs MoU with Syngular Solutions to collaborate on carbon capture and geological storage initiatives in Brazil

      • Estee Lauder & Puig end discussions regarding a potential business combination

      • Market Voices: Masters of Scale with Lew Frankfort on building Coach, accessible luxury, and scaling enduring consumer brands

      • Stellantis shares halted; news pending

  • Key rating changes

    • Upgrades

      • Deutsche Bank transfers DHL.GR, DSV.DC, HLAG.GR, others

      • JPMorgan upgrades CLN.SW; downgrades AKE.FP, EVK.GR, IMCD.NA, and LXS.GR

    • Downgrades

      • LXS.GR (Lanxess) -- to sell from neutral at Goldman Sachs

      • SYENS.BB (Syensqo) -- to reduce from hold at Kepler Cheuvreux

    • Initiations

      • GNC.LN (Greencore Group) -- re buy at Peel Hunt

  • Data

    • Nikkei +2.80% to 63412.47

    • Hang Seng +1.25% to 25703.41

    • Shanghai Composite +0.50% to 4097.5

    • S&P futures +25.3 vs prior close of 7466.0

    • €-$ (0.0001) or (0.01%) to 1.1617

    • $-¥ +0.11 or +0.07% to 159.09

    • €-¥ +0.06 or +0.03% to 184.77

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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