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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE (0.12%), DAX +0.24%, CAC40 +0.34%

May 27 ,2026

  • Synopsis

    • European equity markets are set for a mostly higher open with the exception of the UK. Asian equities mixed Wednesday. Big rally in memory and other chip stocks, driving outperformance of South Korean and Taiwan benchmarks. Greater China markets turning lower. Japan firming. Australia little changed. S&P 500 futures flat.

    • Nothing particularly incremental from US-Iran diplomacy negotiations, which appear to be focused on release of frozen funds. Mooted MoU would reopen Strait of Hormuz though Iran insisting on fee collection and describing Monday skirmish involving US and Israeli jets as violation of ceasefire. Lebanon another sticking point with Israel vowing to continue operations against Hezbollah. Market's baseline expectation remains for deal to be reached though Secretary of State Rubio said may take few days to materialize.

    • Back in Europe, European Economic Area Council meets, and its the first day (off two) of an informal meeting of EU foreign affairs ministers. Meanwhile, UK's Ofgem due to announce Q3 of 2026 energy price cap level and European Automobile Manufacturers'

    • In central banks, Denmark central bank's chief economist Harr speech at 9:45CET at Experians Innovation Summit and Bundesbank's Köhler-Geib panellist at 18:30CET at quantum computing conf. German Council of Economic Experts presents latest economic forecast, includes press conf, and then a meeting hosted by Chancellor Merz.

    • Macro data due include France May consumer confidence, Switzerland May ZEW expectations and Finland Apr unemployment rate. Association (ACEA) is due to release April new car registrations for EU + EFTA + UK.

    • In earnings, Capgemini (CAP.FP) is hosting its CMD and released 2028 financial targets including to deliver 2025 to 2028 revenue CAGR at constant currency of +5.5-7.5%, with c. 2 points from M&A. Inventiva (IVA.FP) posted Q1 cash and cash equivalents at €75.0M. Elsewhere, Aroundtown (AT1.GR) and PORR (POS.AV) released Q1 results.

  • Politics/Macro/World News

    • France signals volte-face on 'Made in Europe' subsidies for UK car industry - FT

    • Former PM Tsipras looks to unite Greece's fragmented opposition with new party - politico

    • Finland Apr Unemployment Rate 11.6% vs consensus 11.5% and prior 11.1%

  • Top company news

    • Earnings/updates

      • Benelux:

        • GIMB.BB (Gimv) -- Q1 trading update: positive portfolio return for Q1 of 3.9% (non-annualized), further increase in portfolio value to more than €2.2B

      • France:

        • CAP.FP (Capgemini) -- CMD Update: targets to deliver 2025 to 2028 revenue CAGR at constant currency of +5.5-7.5%, with c. 2 points from M&A

        • IVA.FP (Inventiva) -- reports Q1 cash and cash equivalents at €75.0M

        • ALATA.FP (Atari, Inc.) -- announces FY 2026 prelim revenue ~$64M

      • DACHs:

        • AT1.GR (Aroundtown) -- reports Q1 FFO I per share €0.07 vs FactSet €0.06; confirms FY26 FFO I outlook

        • POS.AV (PORR) -- reports Q1 EBIT €14.3M vs FactSet €12.7M [1 est]; reaffirms FY guidance

      • Nordics:

        • SYNACT.SS (SynAct Pharma) -- reports Q1 EPS (SEK0.48) vs year-ago (SEK0.51)

        • NYKD.NO (Nykode Therapeutics) -- reports Q1 net income ($4.1M) vs year-ago ($1.4M)

        • MPCC.NO (MPC Container Ships) -- reports Q1 EPS $0.09 vs FactSet $0.08 [4 est, $0.07-0.08]

      • Southern Europe:

        • EXAI.IM Expert.ai reports FY net income (€5.7M) vs FactSet (€0.7M) [2 est, (€0.7)-(0.6M)]

    • M&A

      • RF.FP (Eurazeo) -- Eurazeo, through its EZORE fund, has acquired a majority stake in Babylon, an integrated aparthotel operating platform, active in Paris and in the Greater Paris area

      • CEC.GR (CECONOMY) -- European Commission plans in-depth foreign subsidies probe in connection with JD.com's proposed acquisition of CECONOMY -- FT

      • IDL.FP (ID Logistics Group) -- announces the takeover and transition of three new operations in the Southeast

    • Healthcare

      • HNSA.SS (Hansa Biopharma) -- reports positive efficacy and safety results from Idefirix European post authorization study in kidney transplantation

      • ROP.SW (Roche Holding) -- Roche launches the Liver Disease Panel, the first suite of certified algorithms to support Chronic Liver Disease management

      • CRNA.NO (Circio Holding) -- Circio Holding, AaviGen Gmbh announce research collaboration to develop circVec-enhanced AAV vectors specifically engineered for targeted, low dose heart gene therapy

    • Other

      • NTGY.SM (Naturgy Energy Group) -- holder Rioja Acquisition S.à r.l. places 107.5M shares at €28.55/share through Goldman Sachs

      • NTI.NO (Norsk Titanium) -- enters into a recurring production contract with Northrop Grumman for aircraft components

      • HEIJM.NA (Heijmans) -- wins €83M contract in The Netherlands

      • AIR.FP (Airbus SE) -- China delaying approval of Airbus plane deliveries over how long European regulators are taking to certify Chinese-made aircraft - Bloomberg

      • WCH.GR (Wacker Chemie) -- sells 2.1M Siltronic AG shares at €89.35 per share

      • WAF.GR (Siltronic) -- Wacker Chemie (WCH.GR) to dispose of ~1.8M shares of Siltronic

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- TGS awarded large 4D streamer contract offshore Angola

      • VOLCAR.B.SS (Volvo Car) -- Volvo Cars receives specific authorization in the United States under ICTS Connected Vehicles Rule

      • PLX.FP (Pluxee) -- acknowledges filing of a claim by the Chilean Competition Authority; will assess content of claim and determine appropriate measures

      • IDR.SM (Indra Sistemas) -- to appoint Josep Maria Recasens as CEO (post Bolsa de Madrid close)

      • SLHN.SW (Swiss Life Holding) -- to launch €40M share buyback programme

      • NTGY.SM (Naturgy Energy Group) -- holder Rioja Acquisition S.à r.l. placing 107.5M shares via accelerated bookbuild through Goldman Sachs (post EU close 26-May)

      • SOP.FP (Sopra Steria Group) -- launches €40M share buyback programme

      • LATO.B.SS (Latour Investment) -- divests Class B shares in Securitas and ASSA ABLOY, for gross proceeds of SEK 5.0B

      • Coinbase and Standard Chartered partner to unlock global fiat access

      • European Automobile Manufacturers' Association (ACEA) April new car registrations for EU + EFTA + UK +7.0% y/y

      • Market Voices: Invest Like a Billionaire with guest Brian Rosen, founder of InvestBev, on bourbon supply, beverage investing, and industry dislocation

  • Key rating changes

    • Upgrades

      • CWK.LN (Cranswick) -- outperform from sector perform at RBC Capital Markets

      • Barclays upgrades GJF.NO, SAMPO.FH

      • Oddo upgrades SGSN.SW; downgrades ITRK.LN

      • AUTO.LN (Auto Trader Group) -- to buy from add at Peel Hunt

    • Downgrades

      • MRO.LN (Melrose Industries) -- underperform from neutral at BNP Paribas Exane

      • Goldman Sachs downgrades CASH.SM, PSG.SM

      • FLOW.NA (Flow Traders) -- to sell from hold at ING

      • HMS.SS (HMS Networks) -- to hold from buy at Handelsbanken

    • Initiations

      • ALK.B.DC (ALK-Abello) -- buy at Berenberg

      • KAP.LN (Kazatomprom) -- buy at UBS

      • IQE.LN (IQE) -- re-initiated buy at Deutsche Numis; prior rating was buy

      • PUIG.SM (Puig Brands) -- resumed buy at BofA (

  • Data

    • Nikkei +0.63% to 65404.42

    • Hang Seng (0.97%) to 25350.62

    • Shanghai Composite (1.34%) to 4089.98

    • S&P futures +4.5 vs prior close of 7537.0

    • €-$ +0.0009 or +0.08% to 1.1641

    • $-¥ +0.05 or +0.03% to 159.34

    • €-¥ +0.20 or +0.11% to 185.48

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.
Please refer to "Terms Of Use".

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