Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.09%) to 10416.07, DAX +0.05% to 25104.70, CAC40 (0.07%) to 8183.34, STOXX 600 +0.15% to 626.02

May 29 ,2026

• Synopsis:

  • European equity markets finished mixed and largely flat, well off earlier highs. Media, banks, construction/materials the best performers while food & beverage, telecom and chemicals the main laggards. US equities mostly higher in midday trading. Treasuries firmer, capping the week's solid rally; yields down 1-2 bp. UK 10-year yield off 2 bps to 4.80%, while German 10-year yield down 4 bps to 2.93%. Dollar index off 0.2%. Gold up 1.7%. Silver up 0.5%. Bitcoin futures down 0.7%. WTI crude down 1.7% and off more than 9% this week.

  • In global geopolitical developments, US and Iran appear to be on the verge of formal agreement. President Trump said Iran must commit never to possess nuclear weapons and that Hormuz must be reopened immediately and without transit fees. Trump confirmed US naval blockade has been lifted, and that all sea mines will be cleared. On the nuclear material question, Trump said enriched uranium buried following US strike eleven months ago will be excavated and destroyed by US in close coordination with Iran and IAEA. He added that no funds will be exchanged until further notice, appearing to push back on Iranian demands for immediate access to frozen assets. Most significantly, Trump said he was heading to the situation room to make a final decision, which Axios interpreted as imminent approval of nuclear agreement.

  • In Europe, ECB's Panetta the latest Governing Council member to signal a June rate hike. BoE's Bailey said inflation above 2% justified amid uncertainty, and signaled tighter policy by ruling out cuts. Markets now price at least one more 25 bp hike this year. On the macro data front, German import prices higher again in April but moderating versus prior update. Swedish Q1 GDP missed expectations. French Q1 GDP was revised lower to modest contraction. Inflation data see pickup in price pressure, with French CPI the highest in more than two years, Spanish fastest rate of inflation since 2024 and German state readings firmer. German unemployment unexpectedly dropped. UK business survey via Lloyds Bank showed improvement in sentiment.

  • In corporate news, Ocado (OCDO.LN) announced new ecommerce partnership with Asda in strategically positive deal that should sharpen online offer and slightly pressure Tesco/Sainsbury's. Further in the UK, AstraZeneca's (AZN.LN) IMFINZI (durvalumab) received FDA approval for the induction and maintenance therapy alongside Bacillus Calmette-Guerin (BCG) for patients with high-risk non-muscle invasive bladder cancer.

  • In earnings releases, CTS Eventim (EVD.GR) Q1 sales and EBITDA beat expectations, driven by strong Live Entertainment and steady ticketing. Derichebourg (DBG.FP) H1 results slightly ahead of expectation. Prosafe (PRS.NO) ) released Q1 numbers.

  • In M&A news, German local media reported that RWE (RWE.GR) is considering buying a further stake in Amprion, with the seller likely to be a consortium led by Ärzteversorgung Westfalen-Lippe. Media reports Daniel Kretinsky open to increasing his holding in TotalEnergies SE (TTE.FP). Late in the afternoon session, shares of EasyJet (EZJ.LN) moved higher on market rumors of PE bid interest.

• Digest:

  • Sectors - STOXX Europe 600:

    • Outperformers:

      • Media +1.11%, Banks +1.04%, Construct & Mtls +0.84%, Financial Svcs +0.81%, Technology +0.70%, Ind Goods & Svcs +0.51%, Travel & Leisure +0.25%, Basic Resources +0.20%, Retail +0.17%

    • Underperformers:

      • Food & Beverage (1.27%), Telecom (1.14%), Chemicals (0.96%), Persnl & HHold Goods (0.74%), Utilities (0.48%), Autos & Parts (0.43%), Oil & Gas (0.31%), Insurance (0.08%), Real Estate +0.05%, Health Care +0.09%

  • Macro:

    • Central banks:

      • ECB's Panetta supports an interest-rate hike but advises against signaling further tightening measures (Bloomberg )

      • ECB says Iran war could raise medium-term inflation expectations in the euro area, prompting interest rate hikes (Bloomberg )

    • Inflation in France and Spain accelerates to fastest level since 2024, raising ECB interest rate concerns (Bloomberg )

    • France's economy unexpectedly contracted by 0.1% in early 2026 (Bloomberg )

    • Trade/Tariffs:

      • EU preparing emergency powers to intervene in European semiconductor supply chains during shortages (FT)

  • Peripheral markets:

    • Italy:

      • EC gives Italy thumbs up on tax, banks, labour market (ANSA )

    • Spain:

      • Inflation stabilizes in May at 3.2% and awaits the impact of the withdrawal of energy subsidies (ElPais )

      • Brussels authorizes Spain to pay €9B to electricity companies to guarantee supply stability (ElPais )

    • Greece:

      • SYRIZA leader says new Tsipras party could anchor broader left-wing coalition (Kathimerini )

    • Ireland:

      • Mortgage approvals exceeded €1.5B in April as first-time buyers continue to drive activity (BPFI )

    • Norway:

      • Intensifies lobbying to lift EU moratorium on Arctic oil and gas drilling (Bloomberg)

  • Company news:

    • Notable Gainers

      • +16.6% BAMNB.NA (Koninklijke BAM Groep €11.14, +1.59) -- Oddo upgrade

      • +15.0% SERI.IM (Seri Industrial €3.14, +0.41) -- agreement with Eni (ENI.IM) to develop the stationary battery supply chain

      • +12.6% IDEX.NO (IDEX Biometrics NOK9.68, +1.08) -- Q1 earnings; completes private placement of 2.5M shares at NOK 8.25 raising NOK 20M

      • +10.7% EVD.GR (CTS Eventim €62.15, +6.00) -- Q1 earnings

      • +8.9% CFEB.BB (Cie d'Entreprises CFE €13.45, +1.10) -- Kepler Cheuvreux upgrade

      • +7.1% OCDO.LN (Ocado Group £2.23, +0.15) -- Ocado and Asda enter partnership to develop Asda's online business across UK

      • +6.4% LOU.GR (DEAG Deutsche Entertainment €3.00, +0.18) -- solid start in financial year 2026 and confirms full-year targets

      • +6.3% DBG.FP (Derichebourg €10.14, +0.61) -- H1 earnings

      • +4.9% UQA.AV (UNIQA Insurance Group €17.16, +0.80) -- Q1 net income €128M vs FactSet €130M [1 est]; confirms FY guidance

      • +4.5% CRNA.NO (Circio Holding NOK9.00, +0.39) -- notes exercise of warrants by primary insiders

      • +4.1% EZJ.LN (EasyJet £4.10, +0.16) -- EasyJet moves higher; circulation of comments from Betaville cited

      • +2.5% CRL.IM (Carel Industries €31.15, +0.75) -- notifies of update to essential information of Luigi Rossi Luciani and Athena FH shareholder agreement following recent placement of shares

      • +2.3% STR.AV (STRABAG SE €95.10, +2.10) -- completes Van Elle acquisition after securing 99.96% shareholder approval

      • +1.8% IPS.FP (Ipsos €38.80, +0.68) -- creates Advisory Board

      • +1.8% JLP.LN (Jubilee Metals Group £0.03, -0.00) -- secures $1.5M unsecured convertible loan note investment

      • +1.3% BOR.LN (Borders & Southern Petroleum £0.12, -0.00) -- Q1 earnings

      • +1.1% QLINEA.SS (Q-linea SEK18.40, +0.20) -- hires Annika Blondeau Henriksson as interim CFO effective 15-Jun; succeeds Christer Samuelsson

      • +0.8% SAND.SS (Sandvik SEK379.30, +3.00) -- to divest business unit Additive Manufacturing; terms undisclosed

      • +0.7% BEIJ.B.SS (Beijer Ref SEK128.30, +0.90) -- acquires HVAC distributor in North America; terms undisclosed

      • +0.5% TRMED.NO (Thor Medical NOK4.64, +0.02) -- enters partnership agreement with Minerva Imaging to support availability of Lead-212 in Europe

      • +0.5% AZN.LN (AstraZeneca £138.02, +0.66) -- FDA approves Imfinzi combo with BCG for NMIBC ; CARES Phase III clinical programme did not meet primary endpoint in overall light chain amyloidosis population, but, demonstrated anselamimab as potential first anti-fibril therapy in kappa light chain amyloidosis

    • Notable Decliners

      • -25.8% CANTA.SS (Cantargia SEK2.15, -0.75) -- carries out a rights issue of SEK 124M and enters into a loan agreement of up to SEK 75M

      • -20.9% DESN1.SW (Dottikon ES Holding CHF310.00, -82.00) -- FY earnings

      • -7.6% ACOMO.NA (ACOMO NV €23.75, -1.95) -- ING downgrade

      • -5.8% ANOT.SS (Anoto Group SEK0.16, -0.01) -- Q1 earnings

      • -5.3% ORK.NO (Orkla NOK97.65, -5.45) -- UBS downgrade

      • -3.5% BOUL.SS (Boule Diagnostics SEK3.31, -0.12) -- appoints new CEO

      • -2.4% BME.LN (B&M European Value Retail £1.71, -0.04) -- Deutsche Numis downgrade

      • -2.3% DNLM.LN (Dunelm Group £7.81, -0.19) -- Deutsche Numis downgrade

      • -1.4% SAN.FP (Sanofi €75.29, -1.07) -- UK MHRA approves Wayrilz (rilzabrutinib) to treat ITP

      • -1.0% CURY.LN (Currys £1.50, -0.01) -- Deutsche Numis downgrade

      • -0.5% JDC.GR (JDC Group €21.10, -0.10) -- expects to see positive effects on its platform business as early as 2026, driven by a significant increase in new business, following scale up of boards

  • EU companies reporting 1-Jun:

    • Earnings:

      • France: CATANA Group (ALCAT.FP)

      • UK: Sirius Real Estate (SRE.LN), Cerillion (CER.LN)

    • Sales: Moscow Exchange MICEX (MOEX.RU)

    • CMD/Events: Landis+Gyr Group (LAND.SW), BNP Paribas (BNP.FP) Commercial & Personal Banking Belgium

• Data:

  • Economics:

    • Germany

      • May Prelim CPI +2.6% y/y vs cons +2.9% and prior +2.9%; (0.2%) m/m vs cons +0.1% and prior +0.6%

        • EU Harmonised: +2.7% y/y vs cons +2.8% and prior +2.9%, (0.1%) m/m vs cons +0.2% and prior +0.5%

      • May Unemployment Change (12K) vs cons +10K and prior +20K

        • Unemployment Rate 6.3% vs cons 6.4% and prior 6.4%

    • Italy

      • Q1 GDP +0.8% y/y vs prelim +0.7; +0.3% q/q vs prelim +0.2%

      • May Preliminary CPI +3.2% y/y vs cons +3.2% and prior +2.7%; +0.4% m/m vs cons +0.1% and prior +1.1%

        • EU Harmonised: +3.3% y/y vs cons +3.2% and prior +2.8%; +0.4% m/m vs cons +0.3% and prior +1.6%

      • Apr Unemployment Rate 5.1% vs cons 5.3% and prior 5.2%

    • France

      • Q1 GDP +0.9% y/y vs prelim +1.1%; (0.1%) q/q vs prelim 0.0%

      • Apr Consumer Spending (0.5%) m/m vs cons (0.1%) and prior revised +0.9% from +0.7%

      • May Prelim CPI +2.4% y/y vs cons +2.5% and prior +2.2%; +0.1% m/m vs cons +0.3% and prior +1.0%

        • EU Harmonised: +2.8% y/y vs cons +2.9% and prior +2.5%; +0.1% m/m vs cons +0.3% and prior +1.2%

    • Spain May Preliminary CPI +3.2% y/y vs cons +3.3% and prior +3.2%; +0.1% m/m vs cons +0.2% and prior +0.4%

      • EU Harmonised: +3.6% y/y vs cons +3.6% and prior +3.5%; +0.1% m/m vs cons +0.2% and prior +0.7%

    • Switzerland May KOF Leading Indicators 98.0 vs cons 98.0 and prior revised 97.8 from 97.9

    • Portugal Apr Unemployment Rate 5.7% vs cons 5.9% and prior 5.8%

    • Portugal Q1 GDP +2.3% y/y vs prelim +2.3%; 0.0% q/q vs prelim 0.0%

    • Greece Mar Retail Sales +3.0% y/y vs cons +2.4% and prior revised +4.4%

    • Greece Apr PPI +12.8% vs cons +8.7% and prior +8.3%

    • Greece Apr Unemployment Rate 9.5% vs cons 9.2% and prior revised to 10.4% from 9.0%

    • Belgium Q1 GDP +0.8% y/y vs prelim +0.8%; +0.2% q/q vs prelim +0.2%

    • Norway Apr Retail Sales +0.3% m/m vs consensus (0.6%) and prior (0.1%)

    • Sweden

      • Apr Retail Sales +4.7% y/y vs cons +5.5% and prior revised +5.8% from +5.7%; 0.0% m/m vs cons (2.6%) and prior revised +2.9% from +3.1%

      • Q1 GDP +2.0% y/y vs prelim +1.6%; (0.2%) q/q vs prelim (0.2%)

    • Denmark Apr Unemployment Rate 2.7% vs cons 2.7% and prior 2.7%

    • Finland Q1 GDP +1.1% y/y vs prelim +1.3%; +0.9% q/q vs prelim +0.9%

  • Markets:

    • WTI Crude (Jul 26): ($1.85) or (2.08%) to $87.05

    • €-$ +0.0028 or +0.24% to 1.1678

    • £-$ +0.0027 or +0.20% to 1.3472

    • €-£ +0.0003 to 0.8669

    • S&P 500 +0.27%

    • Performance year-to-date

      • FTSE 100: +4.88%

      • DAX: +2.51%

      • CAC: +0.42%

      • MIB: +11.33%

      • Stoxx 600: +5.71%