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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.10%), DAX +0.02%, CAC40 +0.16%

Jul 02 ,2026

  • Synopsis

    • European equity markets are set for a firmer open amidst mostly lower Asian equities Thursday. Tech-heavy benchmarks in South Korea, Japan and Taiwan experiencing the largest declines. Tech driving gains in Hong Kong, offsetting heavy losses among China semiconductor stocks. S&P 500 futures flat afterhours.

    • No fresh catalysts for Europe. Markets keying off positive US equity futures after softer Wall Street close. Europe looking through selloff in memory stocks in Asia, which followed SOX's 6% decline. Nothing new from central banks after panel discussion on Wednesday, which saw remarks from Fed's Warsh, ECB's Lagarde and BoE's Bailey. Warsh avoided hints on near-term policy. Lagarde defended decision to hike. Bailey reiterated rationale for leaving policy on hold.

    • In the UK, there's MPs questions on Business and Trade whilst committee topics include National Resilience at 10:30BST, whilst EU's Serafin opens the ABC 2026 Conf. There's a visit of the College of Commissioners to the Irish Presidency (through Fri). Also, Infineon's Smart Power Fab in Dresden opens.

    • On macro data front, Swiss inflation data and BoE credit conditions survey on the agenda. More central bank commentary anticipated from ECB Sintra conference, though has not really shifted market perception on policy outlook. ECB officials divided yet has space to leave policy steady this month after recent pullback in oil. UK press discusses gap in public finances to fund defense, which may be larger than Starmer government suggests.

    • On macro data front, Swiss inflation data and BoE credit conditions survey on the agenda. Italy May unemployment rate, Spain Jun unemployment change, Eurozone May unemployment rate and Ireland Q1 final GDP also due for release. More central bank commentary anticipated from ECB Sintra conference, though has not really shifted market perception on policy outlook. ECB officials divided yet has space to leave policy steady this month after recent pullback in oil. UK press discusses gap in public finances to fund defense, which may be larger than Starmer government suggests.

    • In earnings, Sodexo (SW.FP) reported Q3 organic revenue growth +2.0% vs consensus (0.1%) and raised FY26 organic revenue growth guidance to +1.2-1.5% vs prior +0.5-1%. Zumtobel Group (ZAG.AV) is out with Q4 net income ~€1M vs year-ago €15.5M; proposes no dividend for 2025/26 financial year and Stellantis (STLAM.IM) rpeorted US sales in Q2 +6% y/y, sales in Jun +10% y/y.

  • Politics/Macro/World News

    • Greece Jun business expectations in industry index 109.0 vs prior 113.9 and year-ago 107.6 - IOBE

  • Top company news

    • Earnings/updates

      • STLAM.IM (Stellantis) -- reports US sales in Q2 +6% y/y, sales in Jun +10% y/y

      • AI.FP (Air Liquide) -- releases pre-H1 2026 Sales Communication

      • SW.FP (Sodexo) -- reports Q3 organic revenue growth +2.0% vs consensus (0.1%); raises FY26 organic revenue growth guidance

      • APAM.NA (Aperam) -- provides update on Q2 2026 market & financial trends

      • ZAG.AV (Zumtobel Group) -- reports Q4 net income ~€1M vs year-ago €15.5M; proposes no dividend for 2025/26 financial year

      • VPLAY.A.SS (Viaplay Group) -- to sell Dutch operations

    • M&A

      • TSL.IM (Tessellis) -- announces the original structure of the consideration restored in connection with DHH's offer for Perimeter B.1

      • EN.FP (Bouygues Construction) -- acquires Vannoy Construction; price not disclosed

      • HBAN.SW (Helvetia Baloise) -- has reached further key milestones and moves into next stage of value deliveryTitel

      • VPLAY.A.SS (Viaplay Group) -- to sell Dutch operations

      • SHEL.LN (Shell Plc) -- completes sale of Jiffy Lube International and Premium Velocity Auto to Monomoy Capital Partners

      • ML.FP (Cie Generale des Etablissements Michelin SA) -- Michelin completes acquisition of Tex Tech Industries

      • SPIE.FP (SPIE) -- acquires nimeg ag; terms undisclosed

      • SLHN.SW (Swiss Life Holding) -- completes acquisition of TELIS Group

      • ASRNL.NA (ASR Nederland) -- completes acquisition of Bovemij's insurance activities

      • 2371.JP (Kakaku.com) -- receives legally binding proposal from LY Corp., Bain

      • LNA.FP (LNA Santé) -- announces acquisition of five nursing homes and an operating license from the Clariane group

    • Healthcare

      • NOVN.SW (Novartis) -- Novartis' Itvisma approved by EC for spinal muscular atrophy (SMA)

      • ROP.SW (Roche Holding) -- Roche's divarasib shows superiority in head-to-head phase III trial against approved KRAS G12C inhibitors in non-small cell lung cancer

      • BAYN.GR (Bayer AG) -- Bayer to consolidate US glyphosate business into distinct entity operating as Ruveon

      • MOLN.SW (Molecular Partners) -- and Orano Med announce first patients dosed in Phase 1/2a trial of DLL3 Radio-DARPin MP0712

      • VICO.SS (Vicore Pharma Holding) -- Vicore Pharma announces ADSs to commence trading on 2-Jul on Nasdaq Capital Market

    • Other

      • CRNO.B.SS (Cereno Scientific) -- board and Management enter lock-up agreements

      • JUVE.IM (Juventus Football Club) -- announces agreement with Genoa CFC for the definitive disposal of David Puczka (

      • PROX.BB (Proximus) -- confirms framework agreement Ekinops; first deployment of equipment is scheduled for Q4 of 2026

      • TESB.BB (Tessenderlo Group) -- intends to close its PB Leiner production site in Vilvoorde, Belgium

      • EKI.FP (Ekinops) -- announces framework agreement with Proximus in Belgium

      • NDX1.GR (Nordex) -- secures new orders totalling more than 197 MW from ENOVA and BMR in Germany

      • Italy Jun new passenger car registrations 146,423 units, +10.6% y/y -- UNRAE

  • Key rating changes

    • Upgrades

      • BMAX.SS (Byggmax Group) -- buy from hold at ABG Sundal Collier

      • JPMorgan reinstates ADS.GR, JD.LN, ONON, and PUM.GR

      • UBS transfers WOSG.LN, PNDORA.DC, MONC.IM

      • BAYN.GR (Bayer AG) -- to buy from hold at Deutsche Bank

      • CA.FP (Carrefour) -- to buy from neutral at UBS (1-Jul, timing uncertain)

      • CKN.LN (Clarkson) -- to buy from hold at Canaccord Genuity

      • EVD.GR (CTS Eventim) -- to outperform from neutral at Oddo

      • SAAB.B.SS (Saab) -- to hold from sell at Handelsbanken

    • Downgrades

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- to hold from buy at SEB

  • Data

    • Nikkei (1.79%) to 69212.35

    • Hang Seng +0.57% to 23011.89

    • Shanghai Composite (1.57%) to 4048.03

    • S&P futures +0.0 vs prior close of 7543.5

    • €-$ +0.0013 or +0.11% to 1.1390

    • $-¥ (0.31) or (0.19%) to 162.28

    • €-¥ (0.17) or (0.09%) to 184.81

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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