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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.72% to 10437.85, DAX +0.62% to 25139.69, CAC40 (0.25%) to 8400.11, STOXX 600 +0.58% to 639.27

Jun 22 ,2026

  • Synopsis:

    • European equity markets ended the session mixed to higher, with shares ending the day at their best levels.

    • Pan-European indices gave up modest opening gains and traded in slightly negative territory for much of the morning before shares moved steadily higher from around midday, and after a period of range-bound trading, extended advances onto the close.

    • Positive headlines regarding continuing US-Iran talks in Switzerland initially aided sentiment

    • Denmark, Norway both (0.4%) joined the CAC in leading underperformers. Ireland, Spain both +1.2 and Greece +1.0% led outperformers

    • UK PM Starmer announces his resignation, with Britain now set for seventh PM in 10 years. Starmer says he'll ask the Labour Party's National Executive Committee to set out a timetable to elect his successor, with nominations opening on 9-Jul.

    • Three new MPs elected in by-elections last week were sworn-in, Lara Bird, SNP for Abroath and Broughty Ferry, Douglas Lumsden, Conservative Party for Aberdeen South and Andy Burnham, Labour Party for Makerfield.

    • Burnham confirmed he will be candidate to replace Starmer, whilst another potential leadership candidate, Wes Streeting, saying he won't challenge for leadership. If Andy Burnham is unopposed, it makes it very likely that he'll be PM by 16-Jul (the start of House of Commons summer recess).

    • With respect to PM Starmer's future plans, he's given no indication that he intends to stand down as the MP for Holborn & St Pancras (recent polling suggests that Labour would lose the seat to the Green Party), and in his resignation speech spoke the need for an 'orderly handover of power'

    • One fall-out from the PM's decision is the reported postponement of the UK-EU summit scheduled for 22-Jul, to allow new PM more time to prepare.

    • In central banks, Austria central bank's Kocher was a panellist at event jointly hosted with EIB title Trade Policy beyond the Inflection Point: Economic Implications for Austria. ECB's Lagarde was in a meeting with the European Trade Union Confederation (ETUC) executive committee after which was before EU Parliament (EP) committee - speech - and then a panellist at 17:15 along with EU's Dombrovskis, other at event hosted by House of the Euro.

    • Denmark central bank's Krogstrup was a panellist at CEBRA 2026 (through Wed). Bundesbank's Nagel spoke on monetary policy before Bundestag budget committee.

    • Also, Ireland central bank's Makhlouf delivering opening remarks, and former President of Netherlands central bank Knot Bundesbank's Köhler-Geib, SNB's Martin were on panels through the day at Central Bank of Ireland, Riksbank, Netherlands central bank, Bundesbank's annual macroprudential conf (through Tue). Bank of Italy's Panetta spoke at workshop in memory of Robert Mundell.

    • Czech central bank releases its latest Financial Stability Report and the first of the ECB's Economic Bulletin pre-releases published. In Sweden, there's Almedalen Week (through Fri) with Riksbank's Bunge on a panel earlier.

    • In addition to the news in the UK, in politics, EU Parliament (EP) President Metsola and EP political group leaders started a two-day visit to Dublin to meet the government to prepare for the Irish Council presidency. The EU-Moldova Summit saw EU's Costa and von der Leyen meet with Moldova's President Sandu - von der Leyen statement following the Summit. Also, a meeting of EU Agriculture and Fisheries Council (through Tue) whilst Parliamentary Assembly of the Council of Europe meets (through Fri). EFTA ministerial meeting in Iceland (through Tue). EU will host MoCA10, EU, Canada and China annual meeting on climate action with G20 countries and United Nations partners (through Tue).

    • Germany's defence minister Pistorius delivers at 19:00CET the fifth Helmut Schmidt Lecture. Federation of German Industries (BDI) Industry Day (through Tue) saw finance minister Klingbeil on a panel earlier.

    • Elsewhere, Euronext Athens capital markets seminar: shipping outlook and market dynamics and 25th World Hydrogen Conf gets underway (though Fri). Fitch Ratings sponsors Business of Airports Conf (through Tue).

    • Amongst the handful of company earnings/updates was Babcock International Group (BAB.LN) reports FY underlying EPS EPS 60.5p ex-items vs FactSet 64.2p [7 est, 59.8-67.6p], raises dividend +15% y/y and guides FY27. Local German press wrote that Porsche (P911.GR) will cut its production

    • M&A news flow included Castlelake disclosing a third offer for easyJet, which was rejected, whilst there were small deals announced by Nederman Holding (NMAN.SS), Ratos (RATO.B.SS), Lightshop (BHG.SS), Sandvik (SAND.SS), CVC Capital Partners (CVC.NA), BATM Advanced Communications (BVC.LN), Norbit (NORBT.SS) and AcadeMedia (ACAD.SS). Resilience Investment Holdings ltd extends offer period for Tecnotree (TEM1V.FH) to 26-Jun. Reportedly, Belgium government will be seeking investors for 20% stake in Belfius bank

    • Ellos Group (+ELLOS.SS) intends to list its shares on Nasdaq Stockholm and Gens Aurea (+GA.IM) to IPO on Euronext Milan

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Banks +1.44%, Insurance +1.33%, Travel & Leisure +1.08%, Basic Resources +0.95%, Food & Beverage +0.83%, Real Estate +0.76%, Utilities +0.67%, Health Care +0.60%

      • Underperformers:

        • Media (1.12%), Persnl & HHold Goods (0.66%), Retail +0.12%, Telecom +0.15%, Oil & Gas +0.25%, Construct & Mtls +0.31%, Chemicals +0.33%, Financial Svcs +0.34%, Ind Goods & Svcs +0.39%, Autos & Parts +0.39%, Technology +0.46%

    • Macro/Peripheral markets:

      • Europe:

        • Warns of rising competition for energy from Asia - Politico

      • EU:

        • EU-Moldova Summit marked another step forward in relations and underscored the country's remarkable progress on its EU path - release

      • Finland:

        • Proposal for a tourist tax circulated for views - release

      • Germany:

      • Ireland:

        • Says it can secure an EU capital markets deal this year - FT

      • Italy:

        • Open to Germany joining fighter jet project - FT

      • Norway:

        • A new report suggests must utilize the grey areas better, rather than developing 'green areas' - release

      • Sweden:

        • Government receives state aid application for nuclear power project outside Malmö - release

      • UK:

        • What Andy Burnham's Westminster past reveals about him - FT

        • Andy Burnham has one chance to save the North - The New Statesman

        • What Burnham says he would do as PM - Independent

        • Swift move to PM Andy Burnham 'not without drawbacks' - political science experts at the Univ. of Reading

        • Andy Burnham: Implications for national security? - Britain's World

        • Energy bills, defence and social care: What are Burnham's potential policies? - BBC

    • Company news:

      • Notable Gainers

        • +4.4% VAC.FP (Pierre et Vacances) -- offer from Mubadala Capital at €1.90/ordinary share 'cum distribution' and €1.79/ordinary share

        • +3.8% CMBT.BB (CMB.TECH) -- Fortescue agrees to charter a fleet of 12 Newcastlemax vessels (210,000 dwt) from CMB.TECH's Bocimar

        • +3.3% CA.FP (Carrefour) -- resumed overweight at Morgan Stanley; prior rating was equal-weight

        • +3.2% MGN.NO (Magnora) -- resumed buy at Arctic Securities

        • +3.0% FII.FP (Lisi) -- initiated buy at Berenberg

        • +2.5% EZJ.LN (easyJet) -- Castlelake discloses third offer for easyJet at 625p/share after board rejects all three proposals

        • +2.3% BN.FP (Danone) -- to make two acquisitions in APAC; terms undisclosed

        • +2.0% NDX1.GR (Nordex) -- new 484MW US orders

        • +1.7% OBI.LN (Ondine Biomedical) -- updates on LANTERN Phase 3 pivotal study for Steriwave

        • +0.8% BPE.IM (BPER Banca) -- ECB approves up-to-€750M buyback for BPER Banca

        • +0.5% BNP.FP (BNP Paribas) -- BNP Paribas Cardif acquires an additional 19% stake in BCC Vita increasing total shareholding to 70%; terms undisclosed

        • +0.1% DNO.NO (DNO) -- partnership appraisal well further delineates Carmen discovery; recoverable resources now estimated at 21-107Mmboe

      • Notable Decliners

        • -12.7% SYNT.LN (Synthomer) -- on track to deliver strong H1 revenue, EBITDA and margin progress relative to prior year

        • -11.0% STORY.B.SS (Storytel) -- hold from buy at Pareto

        • -6.2% BAB.LN (Babcock International Group)

        • -5.5% OCDO.LN (Ocado Group) -- responds to media speculation concerning CEO succession

        • -5.1% OHB.GR (OHB) -- announces up to €510.7M capital increase

        • -3.7% UMI.BB (Umicore) -- hold from buy at Berenberg

        • -3.4% NESF.LN (NextEnergy Solar Fund) -- FY NAVPS 76.1p vs year-ago 95.1p

        • -3.1% BEAN.SW (BELIMO Holding) -- hold from buy at Jefferies

        • -2.9% ALCLA.FP (Claranova) -- CFO steps down

        • -2.0% ATG.LN (Auction Technology Group) -- initiated hold at Panmure Liberum

        • -1.4% PRS.NO (Prosafe) -- fleet utilisation for April 2026 was 79%

        • -1.1% PHM.SM (Pharma Mar) -- enrolls first patient in Phase 1/2 trial evaluating PM54 plus pembrolizumab in advanced solid tumors

        • -0.6% FRAS.LN (Frasers Group) -- Accent Group (AX1.AU) board recommends shareholders reject offer

        • -0.2% ELIS.FP (Elis) -- announces withdrawal of its notification to the CCPC regarding the acquisition of OCL; to abandon the proposed acquisition

    • EU companies reporting tomorrow:

      • Earnings:

        • UK: Dialight (DIA.LN), Severfield (SFR.LN), Intercede Group (IGP.LN), Gear4music (Holdings) (G4M.LN)

      • CMD/Events: Signify (LIGHT.NA), Flow Traders (FLOW.NA), argenx (ARGX.BB) R&D Day, Novonesis (NSIS.B.DC) spotlight educational session on Household Care

  • Data:

    • Economics:

      • Ireland May PPI +1.6% y/y vs consensus +1.8%, prior +1.4%

      • Eurozone Jun flash consumer confidence (17.7) vs consensus (17.5), prior (19.0)

      • UK Jun consumer sentiment index 42.2vs prior 42.1 - S&P

    • Markets:

      • WTI Crude (Jul 26): ($2.05) or (2.68%) to $74.55

      • €-$ (0.0019) or (0.17%) to 1.1441

      • £-$ +0.0057 or +0.43% to 1.3253

      • €-£ (0.0052) to 0.8633

      • S&P 500 (0.34%)

      • Performance year-to-date:

        • FTSE 100: +5.10%

        • DAX: +2.65%

        • CAC: +3.08%

        • MIB: +17.47%

        • Stoxx 600: +7.95%

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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