Jun 16 ,2026
Synopsis
European equity markets are set to open slightly lower, while Asian equities mixed Tuesday. South Korea outperforming with memory giants taking cues from rally in US. Gains picking up in Japan and Taiwan. Greater China mixed with losses in Hong Kong balanced by strength in mainland.
Latest UK political news suggests leadership hopeful Burnham will give Starmer space to resign after by-election rather than immediately trigger a leadership contest. European leaders to press Trump on details of Iran deal. Press reports said allies worried that US negotiating team may fail to secure a robust nuclear agreement or address Iran's ballistic missile program. UK set to announce fresh Russian sanctions and extend energy support to Ukraine.
On today's agenda, EU General Affairs Council includes a policy debate on a draft negotiating box regarding the new MFF 2028-34. Meeting of EU health minister. In the UK, there are MPs questions on foreign, Commonwealth and development followed by the remaining stages of the Cyber Security and Resilience (Network and Information Systems) Bill. Committee topics include OBR at 9:45BST (HM Treasury execs), relationship between the Government and the defence industry at 11:00, trade in a turbulent world: how should the UK deploy its trade instruments? At 14:00, AI, business and the future of the workforce at 14:30. Other political events include EU's Kadis participating in the 11th Our Ocean Conf (through Thu), EU's Dombrovskis participates in the EP Plenary for question time on "State of play on the European Commission's pledge to reduce the reporting burden, in particular for SMEs", 8th European Nuclear Safety Conf (through Wed), The Economist hosts annual Commercialising Quantum Global 2026 conf (through Wed) and FT Global Bond Summit (through Wed). Fitch Ratings Global Bank Regulation Mid-Year 2026 webinar at 8:30BST and at 15:00. Also on Tue, Unicredit's (UCG.IM) takeover offer for Commerzbank (CBK.GR) currently due run until midnight and Reaktor Group (REAKTOR.FH) first day of trading.
In central banks, ECB's Machado in roundtable discussion at 9:00CET at DigitalEurope Finance Executive Council Summer Summit. BOE's Khan speech at 10:00BST at Airmic annual conf. Bank of Spain's Escrivá speech at 12:55CET at the presentation of the report "Banking Union: Between Geopolitics and Simplification." ECB's Lane in conversation at 14:10BST at Reuters NEXT Europe. Austria central bank's Kocher continues series of public meetings at 17:00CET where citizens can ask him their questions about money and the economy. Latvia central bank's Rutkaste in a discussion on LTV and the bank also presents the latest economic forecasts. Netherland central bank's Sleijpen speech at Centre for European Reform. Ireland central bank's Makhlouf speech to European Chamber of Ireland and Diplomatic Community, the bank also hosts a hybrid event for the (re)insurance industry on the Solvency II Review and IRRD.
Overseas, BoJ raised policy rate by 25 bps to 1.00% as expected. Said will continue to reduce monthly bond purchases by JPY200B per quarter, leaving monthly pace at around JPY2T from April-2027. RBA left cash rate unchanged at 4.35% in unanimous vote. Said prepared to raise rates further to meeting price stability and full employment mandate. China activity data mixed. Better industrial production number, but retail sales contraction worse than expected and fixed asset investment missed. Property metrics were also weak.
European macro data releases out today include Germany Jun ZEW survey, Italy May final CPI, and UK Jun house price index - Rightmove.
In corporate news, yesterday after the markets closed Securitas (SECU.B.SS) issued a presentation detailing its 2030 strategy together with updated financial targets ahead on its Capital Markets Day on 16-Jun. Elswhere, Aeroport de Paris (ADP.FP) and Flughafen Wien (FLU.AV) released May traffic figures. In France, Biophytis (ALBPS.FP) trading suspended due to non-publication of FY25 financial report with publication expected no later than end of July.
Politics/Macro/World News
Trump declares US-Iran peace deal 'all signed' as G7 leaders battle to tie up loose ends - The Guardian
Strait of Hormuz flow will take 'weeks' to resume, largest tanker operator warns - FT
Burnham's UK Industrial Revival Plan Unlikely to Bring Back Jobs - Bloomberg
Swiss Lean in Favor of EU Deal After Dismissing Population Cap - Bloomberg
Trump snubs Starmer plea for Anthropic AI exemption - The Telegraph
Top company news
Earnings/updates
ADP.FP (Aeroport de Paris) -- reports Total Paris Aeroport May traffic 9.49M, +1% y/y
SECU.B.SS (Securitas) -- presents its 2030 strategy together with updated financial targets
ALBPS.FP (Biophytis) -- Trading suspended in Biophytis due to non-publication of FY25 financial report; publication expected no later than end of July
ALVU.FP (Vente-Unique.com) -- reports H1 net income €5.0M vs year-ago €4.9M
CICN.SW (Cicor Technologies) -- divests Tunisia facility; expects mid-single-digit CHF million one-time costs; FY26 financial guidance confirmed
FLU.AV (Flughafen Wien) -- reports May Group total passenger traffic +0.7% to 3.91M
Also reporting today includes:
Earnings:
Benelux: Colruyt Group (COLR.BB)
France: MedinCell (MEDCL.FP)
UK: MHP (MHPC.LN), Tatton Asset Management (TAM.LN), Accsys Technologies (AXS.LN), IG Design Group (IGR.LN)
Trading Update:
Nordics: Borregaard (BRG.NO)
UK: Sthree (STEM.LN)
CMD/Events: Equinor (EQNR.NO), NOS (NOS.PL), EDP.PL (EDP-Energias de Portugal), Renishaw (RSW.LN), WashTec (WSU.GR), Theon International (THEON.NA), Verve Group (VER.SS), Adocia (ADOC.FP) investor meeting - Key Opinion Leader, Enento Group (ENENTO.FH) pre-close call, Ferrovial (FER.SM) TCI Fund Management's Investors Day, Volvo Cars (VOLCAR.B.SS) pre-close call,
M&A
OR.FP (L'Oreal) -- Canada subsidiary acquires all assets of Cantin Beaute; terms not disclosed
ISP.IM (Intesa Sanpaolo) -- commits to consulting with Italy's government over future decisions impacting Generali - Reuters (15-Jun, 17:21 CEST)
EDEN.FP (Edenred) -- to acquire The Mobility House Solutions; financial terms not disclosed
FRVIA.FP (Forvia) -- FTC grants antitrust clearance for Apollo Funds' purchase of Forvia's Interiors group
PSM.GR (ProSiebenSat.1 Media) -- Jochen Schweizer exploring buying back adventure-experience business from ProSiebenSat.1 - Reuters
BKT.SM (Bankinter) -- to acquire Tulp Hypotheken; terms not disclosed
FRAS.LN (Frasers Group) -- running same takeover playbook in two different venues - The Australian
KEMIRA.FH (Kemira) -- acquires Clear Water Technologies, LLC; price not disclosed
CICN.SW (Cicor Technologies) -- divests Tunisia facility; expects mid-single-digit CHF million one-time costs; FY26 financial guidance confirmed
BEN.FP (Beneteau) -- announces targeted adaptation of US activities in a market affected by Middle East Conflict; planned divestiture of Cadillac Shipyard and Four Winns, Glastron and Scarab Jet brands
Healthcare
REGN (Regeneron) -- NICE recommends Regeneron's Libtayo with platinum-based chemotherapy for untreated advanced NSCLC
LONN.SW (Lonza Group) -- Lonza issues exclusive, target-specific license to Antharis Therapeutics to advance dual payload ADCs for gastrointestinal cancers
RYTM (Rhythm Pharmaceuticals) -- announces multiple new data presentations from MC4R agonists in acquired hypothalamic obesity (HO), Bardet-Biedl Syndrome (BBS) and Prader-Willi Syndrome (PWS) at ENDO 2026
FARN.LN (Faron Pharmaceuticals) -- Transcript Intelligence: Faron Pharmaceuticals Business Update Call
Other
ETL.FP (Eutelsat Communications) -- Eutelsat and French Armed Forces Ministry announce call-off capacity contract for the NEXUS Framework agreement
WAF.GR (Siltronic) -- AG successfully places 3.0M new shares in the amount of 10% of the share capital at €91 per share
WAF.GR (Siltronic) -- launches cash capital increase
THEON.NA (Theon International) -- Theon announces MoU with Safran to establish JV for electro-optical solutions for drones
DSFIR.NA (DSM-Firmenich) -- releases 2025 sustainability report
VK.FP (Vallourec) -- Transcript Intelligence: Vallourec Business Update Call
BEIJ.B.SS (Beijer Ref) -- Breeze announces its intention to sell ~30.7M class B shares in Beijer Ref, equivalent to ~6.0% of the company
ConocoPhillips set to sign contract with Syria's new government to revive gas production - Reuters, citing FT
Key rating changes
Upgrades
CURY.LN (Currys) -- to outperform from sector perform at RBC Capital Markets
P911.GR (Porsche) -- to equal weight from underweight at Barclays
Downgrades
SFZN.SW (Siegfried Holding) -- to neutral from buy at UBS
APAM.NA (Aperam) -- to equal-weight from overweight at Morgan Stanley
HUBN.SW (HUBER+SUHNER) -- to hold from buy at Berenberg
FRAS.LN (Frasers Group) -- to underperform from sector perform at RBC Capital Markets
SMG.SW (SMG Swiss Marketplace Group) -- to neutral from overweight at JPMorgan
BWLPG.NO (BW LPG) -- to hold from buy at Pareto
Initiations
ASSA.B.SS (Assa Abloy) -- outperform at RBC Capital Markets
Data
Nikkei +0.13% to 69409.23
Hang Seng (1.62%) to 24439.44
Shanghai Composite (0.36%) to 4081.70
S&P futures (7.3) vs prior close of 7626.5
€-$ (0.0016) or (0.14%) to 1.1576
$-¥ (0.04) or (0.03%) to 160.30
€-¥ (0.29) or (0.16%) to 185.54
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