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StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.08%, DAX +0.45%, CAC40 +0.07%

Jul 03 ,2026

  • Synopsis

    • European indices are set to open slightly positive. Asian equities trading higher Friday. South Korea rebounding amid memory rally. Semis weighing on Taiwan. Hong Kong leading China markets with tech platforms and AI stocks stronger. Mild gains in Japan.

    • US equities finished mixed in Thursday trading. However, equal-weight S&P outperformed the cap-weighted index by ~70 bp and RSP set a fresh ATH. S&P and Nasdaq both logged solid gains for the holiday-shortened week.

    • Friday sees, in central banks, Bundesbank's Nagel, BOE's Bailey, Ireland central bank's Makhlouf panellists at 16:30 at event hosted by Les Rencontres Économiques (Thu-Sat).

    • Trading Updates reported today: Pluxee PLX.FP Pluxee reports Q3 revenue €312M vs FactSet €242.0M

    • Economic data due today: Italy, Spain, Sweden Jun services PMI as well as final reads for Eurozone, France, Germany, UK, France May industrial production, Italy May retail sales, Norway Jun retail sales

  • Politics/Macro/World News

    • Merz's reforms have potential - eventually - to boost German growth (Reuters )

  • Top company news

    • Earnings/updates

      • RHM.GR (Rheinmetall) -- comments on potential impact of cancellation of the F126 programme; in case that no mitigating measures can be identified, the 2026 revenue impact could reach a level of up to €300M.

      • AKRBP.NO (Aker BP) -- reports Q2 net production 383.6 mboepd vs year-ago 398.4 mboepd

      • PLX.FP (Pluxee) -- reports Q3 revenue €312M vs FactSet €242.0M [1 est]

      • BAKKA.NO (Bakkafrost) -- issues Q2 trading update

    • M&A

      • HBR.LN (Harbour Energy) -- Holder Potomac View Investments to place ~54.8M ordinary shares in Harbour

      • NEXA (Nexa Resources) -- issues statement regarding Boliden's announcement

      • ELIS.FP (Elis) -- makes acquisition in Brazil. Terms were not disclosed

      • R3NK.GR (Renk Group) -- nearing deal to acquire David Brown Defence - Bloomberg

      • RF.FP (Eurazeo) -- Euazeo completes sale of its stake in Spanish hotel group FST hotels

      • 012330.KS (Hyundai Mobis) -- Seoyon E-Hwa, EcoPlastic and Plakor consortium to acquire Hyundai Mobis' bumper business for KRW500.0B - KED

      • CWC.GR (CEWE Stiftung & Co) -- completes sale of its Commercial Online-Print division to Cimpress

    • Healthcare

      • GNFT.FP (GENFIT) -- announces US Medicare coverage and future reimbursement for NASHnext

      • NWRN.SW (Newron Pharmaceuticals) -- announced that it had a Type A meeting with the FDA regarding the hold on the enrollment of new patients at US sites of its Phase III ENIGMA-TRS 2 study of evenamide

    • Other

      • BA.LN (BAE Systems) -- awarded $49.3M US Navy contract

      • OCDO.LN (Ocado Group) -- Ocado board receives letter from top-10 shareholder calling for chair Adam Warby to be removed - FT

      • BAER.SW (Julius Baer Group) -- appoints Peter Burrill as CFO effective 17-Aug

      • ADDT.B.SS (Addtech) -- releases 2025/2026 Annual Report (includes sustainability statement on page 47)

      • MIPS.SS (MIPS) -- AB and its customer Revelyst resolve alleged patent infringement litigation with BrainGuard Technologies, Inc.

  • Key rating changes

    • Upgrades

      • Morgan Stanley upgrades GALP.PL; downgrades REP.SM; others

      • JM.SS (JM) -- to buy from hold at ABG Sundal Collier

      • MAERSK.B.DC (Maersk) -- to neutral from sell at Goldman Sachs

      • NSIS.B.DC (Novonesis) -- to neutral from underperform at BNP Paribas Exane

      • SIE.GR (Siemens AG) -- to hold from reduce at Kepler Cheuvreux

      • SKA.B.SS (Skanska) -- to buy from hold at Danske Bank

      • TYRES.FH (Nokian Renkaat) -- to buy from hold at DNB Carnegie

    • Downgrades

      • STLAM.IM (Stellantis) -- to reduce from hold at HSBC

      • CNE.LN (Capricorn Energy) -- to hold from buy at Shore Capital Stockbrokers

      • RWAY.IM (Rai Way) -- to hold from buy at Equita

    • Other Actions

      • KCO.GR (Kloeckner & Co.) -- resumed hold at Deutsche Bank

  • Data

    • Nikkei +1.10% to 69487.22

    • Hang Seng +1.15% to 23320.72

    • Shanghai Composite +0.67% to 4055.84

    • S&P futures +22.5 vs prior close of 7528.3

    • €-$ +0.0023 or +0.20% to 1.1455

    • $-¥ (0.05) or (0.03%) to 161.06

    • €-¥ +0.29 or +0.16% to 184.47

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