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StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.57%), DAX (0.81%), CAC40 (0.18%)

Jun 26 ,2026

  • Synopsis

    • European indices are set to open lower as Asian equities are selling. Tech-heavy benchmarks in Japan, South Korea and Taiwan experiencing steepest losses with semis, memory, chip equipment and robotics names all under pressure. Greater China markets also sharply with Alibaba leading Hong Kong tech declines.

    • S&P 500 futures retreating afterhours.

    • Volatile session for AI stocks with Kospi selloff triggering trading halt amid steep losses in SK Hynix (000660.KS) and Samsung Electronics (005930.KS). MU's blowout results and guidance credited for Thursday's AI rally,

    • US equities were mixed in Thursday trading. However, breadth was positive, equal-weight S&P 500 outpaced cap-weighted index by nearly 70 bp amid cyclical/broadening trade upside and weakness across Mag 7 (SPCX~).

    • Friday sees, in central banks, Bundesbank's Nagel and Bank of France's Villeroy panellists at 10:30CET at Annual Conf of Finance Ministers hosted by Ministry of Finance and Science of Saarland. ECB's Vujčić panellist at 18:00CET at event organised by Bank of Portugal.

    • Economic data expected today: Italy Jun business/consumer confidence, Norway retail sales, Sweden May PPI

    • (PYRUM.NO) Pyrum Innovations reports Q1 net income (€3.7M) vs year-ago (€0.9M); guides FY

  • Politics/Macro/World News

    • Meloni redesigns Italy's election rules to stay in power (FT )

    • UN halts escort of ships through Hormuz after vessel comes under attack (Reuters )

  • Top company news

    • Earnings/updates

      • NESN.SW (Nestle) -- Nestlé reports H1 aide-mémoire

      • SCR.FP (SCOR SE) -- acknowledges arbitration award confirming validity of retrocession treaties entered into with Covéa in June 2021

      • FLOW.NA (Flow Traders) -- 2Q 2026 Pre-Close Call: ETF volumes in Q2 increased across most regions and asset classes y/y

    • M&A

      • STLAM.IM (Stellantis) -- and Nissan in talks to acquire assets from Marelli - Bloomberg

      • ORRON.SS (Orrön Energy) -- Cloudberry Clean Energy enters into agreement with Orrön Energy to acquire majority of Swedish wind asset and 50% of MLK at enterprise value €234.6M

      • IF.IM (Banca Ifis) -- launches a competitive process for the sale of its NPL business; takes provisions ~€70M; Guides FY26 net income between €100-110M

      • Mercer to acquires Mitsubishi Estate Asia's 49.9% stake in the Stockland Residential Rental Partnership - The Australian

    • Healthcare

      • BIM.FP (bioMerieux) -- has submitted a Dual 510(k)/CLIA Waiver application to the FDA for the BIOFIRE SPOTFIRE Vaginitis (VG) Panel

      • IDIA.SW (Idorsia) -- closes Pharmakon loan agreement and full repayment of New Money Facility

      • HNSA.SS (Hansa Biopharma) -- Transcript Intelligence: Hansa Biopharma Capital Markets Day

    • Other

      • TTE.FP (TotalEnergies) -- comments on Paris Judicial Court decision

      • R3NK.GR (Renk Group) -- awarded $691.3M US Army contract

      • Memory costs lead to Xbox, iPad price increases; SCOTUS rules in Bayer favor in in intraday themes (24-Jun)

      • Shareholders approve Exxon move to Texas; Lululemon closes AGM to non-shareholders in recent corporate proxy developments

  • Key rating changes

    • Upgrades

      • INDT.SS (Indutrade) -- to buy from hold at SEB

      • PNDORA.DC (Pandora) upgraded to buy from underperform at BofA

    • Downgrades

      • AC.FP (Accor) -- to hold from buy at Jefferies

      • OCI.NA (OCI NV) -- to hold from buy at HSBC

      • TATE.LN (Tate & Lyle) -- to hold from buy at Deutsche Bank

      • FEVR.LN (Fevertree Drinks) downgraded to underperform from neutral at BofA

    • Initiations

      • BC.IM (Brunello Cucinelli) -- buy at Deutsche Bank

  • Data

    • Nikkei (4.45%) to 69148.35

    • Hang Seng (1.64%) to 22697.94

    • Shanghai Composite (1.54%) to 4057.03

    • S&P futures (44.3) vs prior close of 7423.3

    • €-$ +0.0008 or +0.07% to 1.1379

    • $-¥ (0.18) or (0.11%) to 161.62

    • €-¥ (0.08) or (0.04%) to 183.88

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