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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.68%) to 10338.95, DAX (0.40%) to 25003.04, CAC40 (0.45%) to 8146.59, STOXX 600 (0.76%) to 621.24

Jun 01 ,2026

  • Synopsis:

    • European equity markets ended lower Monday. Energy, tech and telco the best performer, while healthcare, constructions, retail, and industrials the big laggards.

    • US-Iran ceasefire negotiations continue with press reports noting President Trump sent revised terms back to Tehran, seeking firmer commitments on nuclear concessions and reiterating demands for unrestricted Strait of Hormuz shipping. Release of frozen Iranian funds has been a point of debate. Despite ongoing talks, US carried out military strikes in Iran on the weekend and Kuwait reports missile and drone attacks. Israel's ground incursion into Lebanon also another potential complication after Iran stipulated end to war there before any agreement.

    • More ECB commentary supported expectations of a June rate hike. Meanwhile, BoE Governor Bailey highlighted need for flexible thinking as it evaluates outlook; played down need for tightening in policy. On macro data front, latest ECB consumer expectations survey saw slight moderation in inflation expectations but economic outlook deteriorated, while UK CBI survey showed downbeat economic outlook. Final Eurozone and UK manufacturing PMIs revised higher versus flash. Eurozone M3 money supply growth slower than expected. Swiss Q1 GDP revised higher. UK Nationwide house price index underpinned expectations of a fragile housing market. Swiss Q1 GDP revised higher.

    • M&A news dominated the headlines; Castlelake acquires 2.14% stake in EasyJet (EZJ.LN) and also stated that it might table a possible offer for the airline; Universal Music (UMG.NA) board declined the unsolicited Pershing Square proposal, Siemens AG (SIE.GR) completes sale and transfer of low voltage motors and geared motors business; OCI (OCI.NA) sold its 50% of OCIN to AGROFERT for a purchase price consideration equal to 50% of €110M and Hiab (HIAB.FH) acquired Labrie Environmental Group for $1.035B (EV).

    • On a light reporting front, BNP Paribas (BNP.FP) presented the growth strategy of its commercial bank in Belgium (CPBB) and raised its profitability targets to 22% pre-tax RONE in 2028 and 25% in 2030; in Switzerland. Landis+Gyr Group (LAND.SW) confirms mid-term growth expectations through FY28 at CMD; expects mid-single-digit revenue CAGR.

    • Looking ahead to tomorrow's EU econ-calendar, key releases will include, amongst others, UK Apr mortgage approvals, M4 money supply, Eurozone May flash CPI and Switzerland Apr trade balance (monthly watch data).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Oil & Gas +1.69%, Technology +1.64%, Telecom +1.21%, Basic Resources +0.94%, Media +0.82%, Financial Svcs (0.11%), Utilities (0.55%), Chemicals (0.56%)

      • Underperformers:

        • Health Care (2.49%), Construct & Mtls (2.12%), Retail (1.82%), Ind Goods & Svcs (1.68%), Real Estate (1.48%), Food & Beverage (1.38%), Travel & Leisure (1.29%), Insurance (1.24%), Persnl & HHold Goods (1.22%), Autos & Parts (1.04%), Banks (0.98%)

    • Macro:

      • EU:

        • Euro zone bond yields jump as US and Iran trade blows -- Reuters

        • EU's dealmaking machine grinds steadily on -- FT

      • UK:

        • Young Britons pay the price of Labour's choices -- FT

        • Did Brexit really harm economic growth? -- Spectator

      • Germany:

        • Germany's €500B Infrastructure Fund Has Sluggish Start -- Bloomberg

        • Germany to punish ministries for failing to spend funds quickly enough -- FT

      • France:

        • Bank of France to Cut 2026 Growth Forecast, Villeroy Says -- Bloomberg

      • Italy:

        • Italy's factories outpace Europe as manufacturing hits four-year high -- Decode39

    • Company news:

      • Notable Gainers

        • +42.4% ALDVI.FP (Advicenne €1.26, +0.37) -- Likozam eligible for reimbursement in France

        • +35.9% DAL.IM (Datalogic €5.80, +1.54) -- holder Hydra possible takeover offer

        • +10.0% EZJ.LN (EasyJet £4.47, +0.40) -- possible takover offer from Castlelake

        • +9.5% VU.FP (VusionGroup €145.90, +12.80) -- BNP Paribas Exane upgrade

        • +5.6% HIAB.FH (Hiab €58.05, +3.00) -- acquisition of Labrie Environmental Group for $1.035B

        • +3.5% HAS.LN (Hays Plc £0.34, +0.01) -- £5M buyback

        • +2.4% RCN.LN (Redcentric £1.28, +0.03) -- FY trading update

        • +2.3% HOLM.B.SS (Holmen SEK313.20, +7.20) -- initiated buy at Nordea

        • +0.9% ALATA.FP (Atari, Inc. €21.30, +0.20) -- early redemption of its convertible bonds

      • Notable Decliners

        • -26.7% MEGP.LN (ME Group International £1.13, -0.39) -- 6M trading update

        • -16.4% PAF.LN (Pan African Resources $1.20, -0.23) -- prelim. FY production

        • -9.7% WLN.FP (Worldline €0.35, -0.03) -- finalises divestment of its Mobility & e-Transactional Services business

        • -8.5% AVIO.IM (Avio €40.92, -3.64) -- Equita downgrade

        • -5.3% SAVE.LN (Savannah Energy £0.07, -0.00) -- CEO insider transaction

        • -2.9% ADYEN.NA (Adyen €902.00, -27.50) -- BNP Paribas Exane downgrade

        • -2.4% O2D.GR (Telefonica Deutschland Holding €2.05, -0.05) -- to shut down 2G (GSM) mobile standard on its network in H2 of 2028

        • -1.9% CAST.SS (Castellum AB SEK122.80, -2.40) -- Goldman Sachs dwongrade

        • -0.6% SQN.SW (Swissquote Group Holding CHF40.62, -0.24) -- UBS upgrade

        • -0.4% JD.LN (JD Sports Fashion £0.86, -0.00) -- completes first £100M tranche of buyback programme

    • EU companies reporting tomorrow:

      • Earnings:

        • Nordics: BW LPG (BWLPG.NO)

        • UK: Paragon Banking Group (PAG.LN), GB Group (GBG.LN), NewRiver REIT (NRR.LN), Gooch & Housego (GHH.LN)

      • Trading Update:

        • UK: British American Tobacco (BATS.LN)

  • Data:

    • Economics:

      • Eurozone Apr Unemployment Rate 6.3% vs consensus 6.3% and prior revised 6.3% from 6.2% (5:00ET)

      • May Manufacturing PMI

        • UK 53.9 vs preliminary 53.7

        • Eurozone 51.6 vs preliminary 51.4

        • Germany 50.1 vs preliminary 49.9

        • France 49.7 vs preliminary 48.9

        • Italy vs consensus 52.0 and prior 52.1

        • Switzerland 57.3 vs consensus 54.0 and prior 54.5

        • Spain 51.2 vs consensus 52.0 and prior 51.7

      • UK May Nationwide House Price Index y/y +1.7% vs consensus +2.9% and prior +3.0%

      • Eurozone Apr M3 Money Supply +2.7% vs consensus +3.3% and prior +3.2%

      • Germany April Retail Sales y/y (0.3%) vs consensus (1.4%) and prior revised to (0.2%) from (2.0%)

      • Switzerland

        • Apr Retail sales y/y +1.6% vs cons +0.2% and prior revised to +1.3% from +0.5%

        • Q1 GDP y/y +0.5% vs cons +1.0% and prior revised to +1.0% from +0.7%

    • Markets:

      • WTI Crude (26-Jul): +$6.33 or +7.25% to $93.69

      • €-$ (0.0034) or (0.29%) to 1.1626

      • £-$ (0.0006) or (0.04%) to 1.3448

      • €-£ (0.0021) to 0.8645

      • S&P 500 +0.15%

      • Performance year-to-date:

        • FTSE 100: +4.10%

        • DAX: +2.09%

        • CAC: (0.04%)

        • MIB: +10.75%

        • Stoxx 600: +4.91%

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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