Jul 01 ,2026
Synopsis
European equity markets are set for a softer open amidst Asian equities mixed Wednesday. South Korea under pressure amid memory pullback.
Germany's Cabinet meets at the ministry of defense, with NATO's Rutte attending as a guest. A joint press conf. with Chancellor Merz, defence minister and NATO Secretary General is scheduled to follow. In the UK, after MPs question on Science, Innovation and Technology there's weekly PMQs at 12noon BST, whilst the Taxation (Energy and Vehicles) Bill continues its passage through parliament. Committee topics include managing the future of UK oil and gas at 13:45 and risks and opportunities to the sustainability of data centres in the UK at 14:30. EU's Kadis speech at the Committee of the Regions plenary debate on the Ocean Pact and EU's Šefčovič meets with UK's minister for the constitution and EU relations Thomas-Symonds. Also, stricter tariff rules for steel imports into the EU come into effect.
In central banks, BOE's Bailey panellist at 14:30BST at ECB Forum on Central Banking, with ECB's Lagarde, Vujcic, Cipollone and Lane also among the speakers/panellists. Elsewhere, Fitch Rating webinar at 14:00BST title European Banks in H2: Resilience Under Pressure, and France, Italy, Spain Jun new car registrations are due to be released.
A busy macro front with Italy, Spain, Sweden, Switzerland Jun manufacturing PMI as well as final reads for Eurozone, France, Germany, UK, Eurozone Jun flash CPI, Switzerland May retail sales, Netherlands Q1 final GDP, Jun preliminary CPI, May retail sales, Greece May Unemployment rate, Ireland Jun unemployment rate, Finland Jun preliminary HICP, Austria Jun preliminary CPI, unemployment rate, Portugal May unemployment rate
In M&A news, Schneider Electric (SU.FP) announced a definitive agreement to acquire 100% of Cognite Holding B.V. (AKER.NO) in an all-cash transaction valued at $3.1B. The transaction proceeds to Aker represents an uplift to the reported Net Asset Value (NAV) per Q1 2026 of NOK 7.4B or approximately NOK 100 per share. A light morning for earnings sees Biophytis (ALBPS.FP) out with FY results.
Politics/Macro/World News
Starmer trims budgets to fund extra £15bn for defence - BBC
Burnham left with £4.7bn bill for Starmer's new defence investment plan - Guardian
Netherlands Q1 GDP +1.4% y/y vs preliminary +1.2%
Netherlands May Retail Sales +2.9% y/y vs consensus +2.9% and prior +3.4%
Finland May Preliminary HICP +2.7% y/y vs consensus +3.1% and prior +2.8%
Top company news
Earnings/updates
ALBPS.FP (Biophytis) -- reports FY net income (€7.8M) vs FactSet (€34.5M) [1 est]
SBO.NO (Selvaag Bolig) -- sold 205 homes in Q2 for NOK 1.65B
AGR.AV (Agrana Beteiligungs) -- reports prelim Q1 EBIT €35.4M vs year-ago €5.7M; confirms FY26/27 guidance
M&A
COFB.BB (Cofinimmo) -- Aedifica completes merger by absorption of Cofinimmo
EDPR.PL (EDP Renovaveis) -- sells a 68 MWac (70 MWdc) wind and solar portfolio in Italy for ~ €150M
SHEL.LN (Shell Plc) -- to sell interest in Gulf of America platform & Coulomb tieback for total consideration of $1.7B
SU.FP (Schneider Electric) -- enters into definitive agreement to acquire 100% of Cognite Holding B.V. in an all-cash transaction valued at $3.1B
IPN.FP (Ipsen) -- to acquire Memo Therapeutics AG for €200M in cash plus deferred milestones for a total potential consideration in excess of €700M
FMC (FMC Corp) -- Tessenderlo Group to invest $400M in FMC Corp for ~20% stake at $13.30/share
PGHN.SW (Partners Group Holding) -- Partners Group invests in Avenue Capital Group's global commercial aviation leasing portfolio
WLN.FP (Worldline) -- Crédit Agricole acquires all shares held by the Worldline group in CAWL
CA.FP (Carrefour) -- completes sale of Romania to Paval Holding
SKA.B.SS (Skanska) -- divests rental multifamily project in Sollentuna, Sweden, for about SEK 570M
SDR.LN (Schroders) -- nearing sale of Benchmark Capital to Söderberg & Partners for more than £200M - FT
INRN.SW (Interroll Holding) -- acquires Interroll AS; terms undisclosed
Healthcare
1AST.GR (ASTA Energy Solutions) -- signs Long-Term agreement (LTA) with ANDRITZ
ALCOX.FP (Nicox) -- NCX 470 New Drug Application Submitted in the United States by Kowa, with Associated €3M Milestone Payment
ALZCUR.SS (AlzeCure Pharma) -- enters into out-licensing and collaboration agreement with QuantumCell ApS regarding global rights to AlzeCure's Alzheimer's platform NeuroRestore, including leading drug candidate ACD856
ABVX.FP (Abivax) -- announces launch of public offering of ~$600M ADSs
TENX (Tenax Therapeutics) -- enters into amendment to license agreement with Orion Corporation - 8-K
IDIA.SW (Idorsia) -- appoints Roland Wandeler as CEO, effective 1-Oct-26
SANN.SW (Santhera Pharmaceuticals Holding) -- Santhera notes topline results from Catalyst Pharmaceuticals Phase 1 Clinical Study of AGAMREE
EMEIS.FP (Emeis SA) -- appoints Jean-Marc Boursier, Deputy CEO, as Chief Operating Officer effective 1-Sep-26
ATT.SS (Attendo) -- Martin Tivéus resigns as President and CEO of Attendo AB
Other
XK4.GR (Gabler Group) -- announces order with volume of ~ €17M
ABVX.FP (Abivax) -- announces temporary trading halt of its shares on Euronext Paris following ADS offering
SAN.FP (Sanofi) -- announces availability of aide-mémoire for Q2 2026 results
BMW.GR (Bayerische Motoren Werke) -- commences third tranche of share buyback of up to €625M
ATS.AV (AT & S) -- core owners selling €120M stake; offering by holders prices at €200/share -- Bloomberg
GALD.SW (Galderma) -- receives CRL from the FDA with comments regarding manufacturing site for RelabotulinumtoxinA
PIRC.IM (Pirelli & C.) -- Board majority nominated Marco Tronchetti Provera as Executive Chairman; board was informed of multi-year investment plan for the US of between ~ $1-1.2B
DTE.GR (Deutsche Telekom) -- to begin third tranche of 2026 share-buyback program today
SGSN.SW (SGS) -- Compass launches for data-driven global supply chain risk management and compliance
SAAB.B.SS (Saab) -- has today signed a contract with the Swedish Defence Materiel Administration (FMV) for 16 Gripen E fighter aircraft for Ukraine
GTT.FP (Gaztransport & Technigaz) -- receives order from Hudong-Zhonghua Shipbuilding for tank design of three new LNG carriers
KOG.NO (Kongsberg Gruppen) -- signs NOK 4.7B order for Joint Strike Missile
ECB weighing doubling minimum reserve requirements to 2% from 1% of banks' customer deposits - Reuters
Transocean Ltd. announces agreement with Equinor for the use of three of its harsh environment semisubmersible rigs on the Norwegian shelf valued at over $1B over 7 rig years
Key rating changes
Upgrades
AI.FP (Air Liquide) -- to buy from underperform at BofA
DIA.SM (Distribuidora Internacional De Alimentacion) -- to strong buy from buy at Alantra Equities
LUMO.FH (Lumo Homes) -- to buy from neutral at Goldman Sachs
TECN.SW (Tecan Group) -- to buy from neutral at UBS
WRT1V.FH (Wartsila) -- to neutral from underweight at JPMorgan
Data
Nikkei +0.87% to 70674.13
Hang Seng closed
Shanghai Composite +0.51% to 4115.10
S&P futures (20.0) vs prior close of 7548.3
€-$ (0.0018) or (0.16%) to 1.1406
$-¥ +0.12 or +0.08% to 162.70
€-¥ (0.14) or (0.08%) to 185.56
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.
Please refer to "Terms Of Use".
DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE