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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.24% to 10491.39, DAX (0.80%) to 25184.89, CAC40 (1.03%) to 8173.11, STOXX 600 (0.57%) to 628.01

May 26 ,2026

  • Synopsis:

    • European equity markets closed closed lower with the exception of the UK playing catch up after Monday's holiday. Follows broad gains on Monday with Stoxx 600 near all-time highs. Basic resources, utilities and telecom outperformed. Autos, tech and media lagged.

    • US-Iran headlines in focus. Iran FM said US violated ceasefire after renewed US strikes against Iranian targets in Strait of Hormuz. Yet, Tehran's top negotiator Ghalibaf remained in Qatar for second day of talks. Markets still betting on agreement as negotiations ongoing. President Trump upbeat on negotiations while Pakistan's chief mediator said agreement close. Familiar obstacles line path towards deal and establishment of 60-day negotiating period, including timeline for releasing frozen Iranian assets, control over Strait of Hormuz, Israeli objections against including Lebanon in deal, uranium enrichment and stockpiles.

    • Limited fresh catalysts elsewhere. Widely thought that higher-for-longer rate environment not going away amid inflation risks. ECB President Lagarde signaled that June projections will revise up 2026 inflation outlook as effects of the Iran war feed through, with money markets now pricing a rate hike next month unless a sustainable US-Iran peace deal materialises. France's Villeroy said the ECB hasn't yet seen second round effects.

    • On the macro front, update from the British Retail Consortium (BRC) showed that UK shop price inflation edged up in May after hitting a four-month low in April. Shop price inflation up 1.2% y/y versus prior 1.0%, above three-month average of 1.1%. Increase in shop prices due to non-food inflation, which was up 0.5% y/y after a 0.1% drop in April, above the 0.1% three-month average. Food inflation eased to 2.7% y/y versus prior 3.1% and below three-month average of 3.1%.

    • In earnings news, Kingfisher (KGF.LN) issued a Q1 trading update with results in line with expectations and full year guidance confirmed despite market uncertainty. Also in the UK, Atalaya Mining (ATYM.LN), Calnex Solutions (CLX.LN) and Diaceutics (DXRX.LN) reported earnings. In Germany, Neinor Homes (1NN.GR) and LEM Holding (LEHN.SW) released Q1/FY earnings. In Nordics, Bonesupport holding (BONEX.SS) issued a CMD update indicating that progression in spine with a multicentre study, planned to start in 2027 and a targeted FDA submission no later than 2031.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +1.37%, Utilities +0.50%, Telecom +0.23%, Retail +0.19%, Real Estate (0.20%), Oil & Gas (0.21%), Construct & Mtls (0.38%), Insurance (0.38%), Travel & Leisure (0.41%), Financial Svcs (0.44%), Banks (0.48%)

      • Underperformers:

        • Autos & Parts (1.90%), Technology (1.33%), Media (1.25%), Food & Beverage (0.89%), Persnl & HHold Goods (0.79%), Health Care (0.78%), Ind Goods & Svcs (0.67%), Chemicals (0.58%)

    • Macro:

      • Central banks:

        • ECB's Schnabel signals June rate hike needed despite possible Iran ceasefire (Reuters)

        • ECB's Villeroy says no second-round inflation spillover from energy shock yet, but vigilant (Bloomberg)

      • Geopolitics:

        • Why major EU capitals are speaking out on Chinese trade retaliation (FT)

        • European banks double reliance on significant risk transfer (SRT) trades to offload corporate loan risk (Bloomberg)

      • UK:

        • UK shop price inflation rises as Middle East conflict and energy costs pressure retailers (Guardian)

        • Reeves urges ministers to 'buy British' in critical sectors (FT)

        • UK government asks CMA to investigate private equity role and hidden fees in childcare market (Bloomberg)

        • UK could join €4B EU start-up fund this year, top official says (FT)

      • Italy:

        • Italy's right-wing coalition holds strong in municipal elections despite referendum setback (Politico)

        • How the EU's €194B recovery plan for Italy fell flat (FT)

      • Spain:

        • Zapatero corruption probe threatens Sánchez's re-election bid in Spain (Bloomberg)

    • Company news:

      • Notable Gainers

        • +24.8% LEHN.SW (LEM Holding CHF409.50, +81.50) -- FY earnings; has drawn takeover interest

        • +21.3% 2GB.GR (2G Energy €69.10, +12.15) -- major order to supply power generation equipment to data centers in north America: 2026 revenue forecast confirmed at the upper end of the range; significant revenue growth of 20% expected in 2027

        • +10.6% SYNACT.SS (SynAct Pharma SEK14.38, +1.38) -- has been informed by a large shareholder, that a trade of up to ~1M shares was placed on the market Monday, 25-May

        • +9.7% VDI.NO (Vantage Drilling International Ltd. NOK170.00, +15.00) -- Q1 earnings

        • +9.2% ARYN.SW (Aryzta CHF59.60, +5.00) -- Berenberg upgrade

        • +8.7% DNR.IM (Industrie De Nora €7.85, +0.63) -- to acquire BW Water Pte. Ltd. for between US$61.5-66.5M (enterprise value)

        • +8.5% ONCO.SS (Oncopeptides SEK1.87, +0.15) -- signs agreement with Salus for distribution and commercialization of Pepaxti in Central and Eastern Europe

        • +8.4% BIOVIC.B.SS (Biovica International SEK0.35, +0.03) -- receives expanded assignment from clinical oncology company for next-generation CDK inhibitor program

        • +8.0% 1INN.GR (innoscripta €83.30, +6.20) -- Q1 earnings

        • +5.8% CVSG.LN (CVS Group £12.69, +0.70) --

          • to commence £50M share buyback program

          • refinances £350M bank debt facilities on improved terms; acquires small animal practice in Australia for an initial consideration of A$8.2M (c.£4M)

        • +4.0% IDOX.LN (IDOX £0.77, +0.03) -- CEO to step down

        • +3.9% OUT1V.FH (Outokumpu €6.06, +0.23) -- Oddo upgrade

        • +3.5% CLX.LN (Calnex Solutions £0.75, +0.03) -- FY earnings

        • +3.4% ATYM.LN (Atalaya Mining £8.16, +0.27) -- Q1 earnings

        • +3.0% BAER.SW (Julius Baer Group CHF65.26, +1.88) -- BofA upgrade

        • +1.9% BLND.LN (British Land Co. £4.04, +0.07) -- Barclays upgrade

        • +1.8% SHAW.LN (Shawbrook Group £3.10, +0.06) -- Shawbrook Group exploring merger with Firstrand-owned Aldermore - Sky News

        • +1.7% KGF.LN (Kingfisher £2.97, +0.05) -- Q1 sales

        • +1.5% QQ.LN (QinetiQ Group £4.84, +0.07) -- Peel Hunt upgrade

        • +1.2% LDO.IM (Leonardo €52.63, +0.61) -- jet trainer order from ITPS Canada

      • Notable Decliners

        • -10.3% BONEX.SS (BONESUPPORT HOLDING SEK236.00, -27.20) -- CMD update

        • -9.3% DXRX.LN (Diaceutics £1.51, -0.16) -- FY earnings

        • -5.4% MRO.LN (Melrose Industries £4.82, -0.27) -- notes a thermal issue was identified regarding a storage tank containing methyl methacrylate (MMA) at GKN Aerospace's (GKN) Garden Grove facility in the US

        • -5.1% ELIOR.FP (Elior Group €1.94, -0.10) -- Citi downgrade

        • -4.7% ENSU.NO (Ensurge Micropower NOK0.59, -0.03) -- Chair resigns

        • -4.2% HEXA.B.SS (Hexagon SEK85.46, -3.76) -- Handelsbanken upgrade

        • -3.4% CRNO.B.SS (Cereno Scientific SEK5.60, -0.20) -- trial update

        • -2.4% HNSA.SS (Hansa Biopharma SEK33.60, -0.82) -- abstract presentation

        • -2.4% ENC.SM (ENCE Energia y Celulosa €2.42, -0.06) -- Santander downgrade

        • -2.3% GRNG.SS (Gränges SEK185.00, -4.40) -- electrical equipment fire in production facility in Shandong; production signifcantly reduced until system restart

        • -1.8% GYC.GR (Grand City Properties €9.61, -0.18) -- Jefferies downgrade

        • -1.8% SOBI.SS (Swedish Orphan Biovitrum SEK439.00, -8.20) -- results from a new analysis of the pivotal Phase 3 CORE and CORE2 trial

        • -1.6% HOME.SM (Neinor Homes €16.18, -0.27) -- Q1 earnings

        • -1.3% MRK.GR (Merck KGaA €128.35, -1.65) -- assumed hold at Jefferies

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Aroundtown (AT1.GR), IVU Traffic Technologies (IVU.GR), PORR (POS.AV)

        • Denmark: PARKEN Sport & Entertainment (PARKEN.DC), FirstFarms (FFARMS.DC)

        • France: SOITEC (SOI.FP)

        • Norway: Hafnia (HAFNI.NO), Constellation Oil Services Holding (COSH.NO), MPC Container Ships (MPCC.NO), Nykode Therapeutics (NYKD.NO), Jinhui Shipping & Transportation (JIN.NO)

        • Sweden: SynAct Pharma (SYNACT.SS)

        • UK: Greencore Group (GNC.LN), Pets At Home Group (PETS.LN), Partners Group Private Equity (PEY.LN), Hollywood Bowl Group (BOWL.LN), Watkin Jones (WJG.LN), HICL Infrastructure (HICL.LN)

      • Trading Update:

        • UK: Zotefoams (ZTF.LN)

      • CMD/Events: Capgemini (CAP.FP), BioInvent International (BINV.SS) Key Opinion Leader

  • Data:

    • Economics:

      • UK May CBI Distributive Trades (46) vs consensus (52) and prior (68)

      • Apr PPI

        • Spain +8.3% y/y vs consensus +3.8% and prior revised +3.1% from +3.4%

        • Sweden +4.7% y/y vs consensus +4.3% and prior +2.0%

      • Norway Apr Unemployment Rate 4.6% vs consensus 5.1% and prior 4.9%

    • Markets:

      • WTI Crude (Jul 26): ($2.31) or (2.39%) to $94.29

      • €-$ (0.0027) or (0.23%) to 1.1619

      • £-$ (0.0066) or (0.49%) to 1.3439

      • €-£ +0.0023 to 0.8646

      • S&P 500 +0.52%

      • Performance year-to-date

      • FTSE 100: +5.64%

        • DAX: +2.84%

        • CAC: +0.29%

        • MIB: +11.02%

        • Stoxx 600: +6.05%

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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