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StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.34%, DAX +0.54%, CAC40 +0.33%

Jun 02 ,2026

  • Synopsis

    • European equity markets are set to open higher, following a negative session on Monday. Asian equities mixed Tuesday. Tech rally halted with Japan, Taiwan and South Korea pulling back. China's major cloud providers underpinning gains in Hong Kong. Mainland indexes flat.

    • More headline noise surrounding US-Iran negotiations after Trump said talks continuing at a rapid pace. Crude surged on earlier reports Iran suspended talks and threatened to disrupt shipping in Red Sea in response to Israel's ground offensive in Lebanon. Lebanon later announced partial ceasefire between Israel and Hezbollah following Trump's phone to PM Netanyahu. Trump gave conflicting opinions on talks, saying he believes deal could be reached over next week after earlier expressing disinterest in continuing slow negotiations.

    • Also on today's agenda, in the UK, there are MPs questions on energy security and net zero whilst committee topics include trade in a turbulent world: how should the UK deploy its trade instruments?, Convention establishing an International Claims Commission for Ukraine at 14:00BST and there's a regular evidence session with BOE's Bailey at 15:00BST. East German Economic Forum sees Chancellor Merz speech at 9:55CET (Sun-Tue). U.K. Foreign Secretary Cooper visits China for talks with Foreign Minister Wang Yi before heading to Shenzhen to meet with business leaders. Forest Europe ministerial conf sees Norway's minister of agriculture and food Sandtrøen among the participants. Norway's State Councillor Skjæran will give a speech at the Offshore Nordland 2026 conf. EU's Fitto participates in the celebrations marking the National Day of the Italian Republic, hosted by President Mattarella. Reuters Sustainability Data & Reporting Europe (through Wed). Politico Pro Roundtable at 12noon BST on Tech UK

    • In central banks Croatia central bank's Švaljek panellist at 10:05CET at Kvaka 24 Conf. Bank of Finland's Rehn speech at 11:00CET at meeting with the EU Heads of Mission. ECB's Vujčić remarks at 15:35CET at the Icelandic conf on the occasion of the publication of the report by Catherine Mann on Iceland's currency options (summ. released on 13-May). BOE's Greene speech at 16:00BST (release) at Univ. of Derby Business School. Netherlands central bank's Sleijpen, others appear at 17:00CET at annual parliamentary committee hearing on financial stability. Poland central bank interest rate. Benchmark interest rate is expected to be left unchanged at 3.75%.

    • European macro data releases out today include, Spain May unemployment change, UK Apr mortgage approvals, M4 money supply, Eurozone May flash CPI, Switzerland Apr trade balance (monthly watch data), Netherlands May preliminary CPI, Apr retail sales, Finland May preliminary HICP, Austria May preliminary CPI, unemployment rate

    • In corporate news, Barry Callebaut (BARN.SW) announced launch of Focus for Growth to deliver sustained mid-term financial, whilst Implenia (IMPN.SW) released a presentation in connection with deep dive for investors and analysts performance. In Nordics, BW LPG (BWLPG.NO) reported Q1 earnings. In Benelux, Theon International (THEON.NA) issued a Q2 update indicating to to-date new orders of €42M with an additional €27M in associated options.

  • Politics/Macro/World News

    • Denmark's Frederiksen announces government after lengthy talks - Politico

    • US in talks to expand nuclear weapons deployments in Europe - FT

    • Lebanon announces partial ceasefire between Israel, Hezbollah but attacks continue - Reuters

    • Poland Set to Hold Interest Rates After Inflation Pressure Cools - Bloomberg

    • Poverty in Germany reaches new high - Handelsblatt

    • Mandelson files reveal Labour party is riddled with doubts and infighting - The Guardian

    • Netherlands May Preliminary CPI +3.5% y/y vs consensus +3.6% and prior +2.8%

  • Top company news

    • Earnings/updates

      • DACHs

        • BARN.SW (Barry Callebaut) -- announces launch of Focus for Growth to deliver sustained mid-term financial performance

        • IMPN.SW (Implenia) -- publishes Primer for investors and analysts

          • IMPN.SW (Implenia) -- releases presentation in connection with deep dive for investors and analysts

      • Nordics

        • BWLPG.NO (BW LPG) -- reports Q1 EPS $1.08 vs FactSet $1.13 [7 est, $1.03-1.28]

      • Benelux

        • THEON.NA (Theon International) -- reports Q2-to-date new orders of €42M with an additional €27M in associated options

      • Russia

        • ROSN.RU (Rosneft Oil) -- reports Q1 net income RUB115B vs year-ago RUB16B

      • Also due to report today includes:

        • Earnings:

          • 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)

        • CMD/Events: Oxford Biomedica (OXB.LN), Serica Energy (SQZ.LN), Gränges (GRNG.SS), Swedencare (SECARE.SS), Astrazeneca (AZN.LN) Bernstein R&D call,

    • M&A

      • HIAB.FH (Hiab) -- Transcript Intelligence: Hiab Hiab Acquisition of Labrie Environmental Group

      • UCB.BB (UCB) -- completes Neurona Therapeutics acquisition

      • VOW3.GR (Volkswagen) -- to select buyer of Everllence over next few weeks, with final bids for majority stake due Tuesday 2-Jun - Reuters (1-Jun, 15:06 CEST)

      • HOLN.SW (Holcim) -- poised to win EU antitrust approval for acquisition of Xella after offering to divest Romanian business - Reuters, citing people with direct knowledge of the matter (1-Jun, 16:55 CEST)

      • NEX.FP (Nexans) -- completes acquisition of Republic Wire

      • CVC.NA (CVC Capital Partners) -- CVC, Cinven among initial bidders for IRCA - Reuters

      • ACKB.BB (Ackermans & Van Haaren) -- Ackermans & Van Haaren's Van Moer Logistics acquires Ziegler Belgium's air freight operations effective immediately

      • DSV.CN (Discovery Silver) -- completes acquisition of Kidd operations

      • BLC.FP (Bastide Le Confort Medical) -- completes sale of New Medical Concept, the holding company of EXPERF group, to Sapio Group

      • GENO.SS (Genovis) -- acquires Denmark-based life science tools company KPL ApS for upfront payment of DKK 30.5M

    • Healthcare

      • ROP.SW (Roche Holding) -- FDA accepts New Drug Application for Roche's giredestrant in ER-positive early-stage breast cancer, the first and only oral SERD with positive phase III results in the curative setting

      • ABVX.FP (Abivax) -- announces phase 3 ABTECT maintenance trial results evaluating Obefazimod in moderately to severely active ulcerative colitis; conference call today at 16:30 ET

      • 4565.JP (Nxera Pharma) -- South Korea MFDS grants orphan drug designation and GIFT designation to Nxera Pharma's vamorolone

    • Other

      • PIRC.IM (Pirelli & C.) -- receives two slates of candidates for board renewal ahead of 25-Jun Shareholders' Meeting

      • LAND.SW (Landis+Gyr Group) -- Transcript Intelligence: Landis+Gyr Group Capital Markets Day

      • BCG.LN (Baltic Classifieds Group) -- intends to initiate new share buyback program of up to €180M

      • UBSG.SW (UBS Group) -- appoints Alexander Seider as Head of Sustainability and Climate Risk

      • BNP.FP (BNP Paribas) -- Transcript Intelligence: BNP Paribas Analyst Meeting - Commercial & Personal Banking Belgium

      • ARCAD.NA (ARCADIS) -- awarded >€90M design work for new high-tech high-speed rail train depot in Birmingham

      • Anthropic files for IPO; Iranian media says Tehran suspended talks in intraday themes (1-Jun)

      • Fluor joint venture receives limited notice to proceed for proposed Phase 2 expansion of LNG Canada Facility

      • Italy May new passenger car registrations 150,096 units, +7.6% y/y -- UNRAE

      • Japan's Fair Trade Commission conducts on-site inspections of five firms including PERSOL Holdings's PERSOL Tempstaff and Recruit Holdings's Recruit Staffing - Nikkei (12:00 JT)

      • Solstad Offshore and SBM Offshore in partnership for a new installation vessel

  • Key rating changes

    • Upgrades

      • CEZ.CP (CEZ) -- to equal-weight from underweight at Morgan Stanley

    • Downgrades

      • AD.NA (Koninklijke Ahold Delhaize) -- to neutral from buy at Goldman Sachs

    • Initiations

      • SECU.B.SS (Securitas) -- outperform at Oddo

      • OCTV (Octave Intelligence Plc) -- Octave Intelligence sector perform at RBC Capital Markets

    • Other Actions

      • ROSE.LN (Rosebank Industries) -- reinstated buy at Jefferies

  • Data

    • Nikkei (0.41%) to 66662.39

    • Hang Seng +1.87% to 25871.94

    • Shanghai Composite +0.61% to 4082.32

    • S&P futures (18.8) vs prior close of 7613.3

    • €-$ +0.0006 or +0.05% to 1.1638

    • $-¥ +0.08 or +0.05% to 159.74

    • €-¥ +0.16 or +0.09% to 185.89

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