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StreetAccount Summary - EU Market Recap: FTSE 100 +0.13% to 10665.88, DAX (1.37%) to 25465.25, CAC40 (0.51%) to 8436.24, STOXX 600 (0.65%) to 646.29

Jul 07 ,2026

  • Synopsis:

    • European indices ended mostly lower, with Germany underperforming the region. WTI crude up 2.3%, near best levels on latest Iran headlines. In macro-news, German industrial production rose a better-than-expected 0.9% m/m in May, marking upside surprise against consensus forecasts of ~0.2%. DeStatis revised Apr's gain down to 0.2%, but fresh print still delivered clear positive signal. In first two months of Q2, production was positive despite Iran conflict. Still, year-over-year figure was a negative 0.5%, and most readings since 2021 have been negative, with production well below pre-pandemic levels. Analysts note German industry still faces weakness, with soft production expectations, slowly improving orders, and rising equipment shortages that signal supply chain risks from Middle East and European drought. Result aligns with yesterday's strong factory orders data, which surged 1.9% in May, boosted by military-related transport equipment demand

    • In politics, a Paris court has cleared the way for Marine Le Pen presidential election run but ordered Le Pen wear an electronic tag, something she has previously said would rule her out from running. However, with Jordan Bardella (her political successor) polling even higher than she is, a decision not to run might be be easier to take. In the UK, PM in-waiting Burnham is considering delaying the announcement of his cabinet, including chancellor, until he officially takes up the leadership. He is said to favor a "one and done" approach rather than drip feeding announcements before he enters Downing Street. In the afternoon, Reform UK leader Farage resigned as MP, triggering a local election in he will stand as a candidate in order to fight the "people versus establishment" battle

    • Amidst a light earnings calendar, in the afternoon, DHL Group (DHL.GR) reported prelim Q2 numbers and raisef its FY26 outlook; earlier in the day, Shell (SHEL.LN) released its Q2 update note ahead of results scheduled to be published on 30-Jul-26, with Victrex (VCT.LN), Cairn Homes (C5H.ID) and Ohlson (CLAS.B.SS) also posting their most recent numbers. In M&A news, ADNOC Distribution acquired Shell Downstream South Africa (SHEL.LN) for implied enterprise value of $1B. Compagnie de Saint-Gobain (SGO.FP) entered into definitive agreement to acquire Xypex and Georg Fischer (GF.SW) divested the aerospace and industrial gas turbine business of its former Casting Solutions division to US-based Consolidated Precision Products Corp. In Swizterland, Givaudan (GIVN.SW) announced an equity investment and strategic collaboration with Microcaps AG

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers: Food & Beverage +2.03%, Persnl & HHold Goods +1.53%, Health Care +1.18%, Media +0.75%, Insurance +0.46%, Chemicals +0.42%, Retail +0.35%, Real Estate +0.33%, Utilities +0.21%, Autos & Parts +0.13%, Travel & Leisure +0.02%, Telecom (0.31%), Financial Svcs (0.36%), Oil & Gas (0.42%), Banks (0.60%)

      • Underperformers: Technology (3.62%), Basic Resources (2.50%), Ind Goods & Svcs (2.44%), Construct & Mtls (1.72%)

    • Macro:

      • NATO summit: Allies in Ankara for talks, defense deals (dw)

      • NATO picks Swedish Saab early-warning planes over US rival (Reuters)

      • Marine Le Pen convicted on appeal, but may still stand in the 2027 presidential election (F24)

      • Bank of England warns an AI crash could plunge UK into recession (Politico)

      • Farage resigns as MP for Clacton, triggering by-election which he says he will stand in (BBC)

      • Trump says likes Meloni, but she wasn't there for us (Ansa)

      • LNG tanker at risk of exploding after two vessels struck near Strait of Hormuz (Reuters)

    • Company news:

      • Notable Gainers

        • +22.5% KLR.LN (Keller Group £32.86, +6.04) -- YTD trading update; RBC Capital Markets upgrade

        • +22.0% ALVDM.FP (Voyageurs du Monde €177.50, +32.00) -- founding shareholders and principal institutional investors announce agreement to acquire remaining share capital of the company

        • +16.3% VCT.LN (Victrex £6.84, +0.95) -- Q3 trading update

        • +16.1% VICO.SS (Vicore Pharma Holding SEK15.68, +2.18)

        • +5.5% RI.FP (Pernod Ricard €65.88, +3.42)

        • +5.0% EAST.SS (Eastnine SEK48.55, +2.30) -- to acquire 40-storey office property The Bridge in Warsaw at preliminary purchase price of ~ €260M

        • +4.9% NCC.LN (NCC Group £1.38, +0.06) -- confirms it is proposing to return £185M to Shareholders

        • +3.8% GMAB.DC (Genmab DKK1,896.50, +69.00) -- AbbVie announces TEPKINLY (epcoritamab) in combination with lenalidomide and rituximab approved by European Commission for treatment of r/r follicular lymphoma

        • +3.7% BTG.LN (BTG Consulting plc £1.12, +0.04)

        • +3.1% EQNR.NO (Equinor NOK326.30, +9.80) -- acquires bp's interest in Bay du Nord project; contract

        • +2.9% ULVR.LN (Unilever £47.04, +1.32)

        • +2.8% ABG.NO (ABG Sundal Collier Holding NOK7.42, +0.20) -- Q2 earnings; CEO to step down

        • +2.6% TLT1V.FH (Teleste €3.56, +0.09)

        • +2.1% SAAB.B.SS (Saab SEK600.00, +12.30) -- announces NATO selects GlobalEye; company has not currently signed a contract or received an order

        • +1.7% DHL.GR (DHL Group €56.70, +0.96) -- reports prelim Q2; raises FY26 outlook

        • +1.7% SUBC.NO (Subsea 7 NOK341.40, +5.80) -- contract

        • +1.2% WIHL.SS (Wihlborgs Fastigheter SEK81.35, +0.95)

        • +0.9% SALM.NO (Salmar NOK465.40, +4.00) -- Q2 harvest

        • +0.7% RNO.FP (Renault €26.36, +0.18) -- BYD has reportedly approached Renault twice for a stake in the company -- Les Echos

        • +0.4% GF.SW (Georg Fischer CHF44.80, +0.20) -- to divest aerospace and industrial gas turbine business of former Casting Solutions division to US-based Consolidated Precision Products Corp

        • +0.3% SPM.IM (Saipem €4.44, +0.01) -- contract

        • +0.1% AVIO.IM (Avio €33.44, +0.04) -- Advent International to acquire ~7% stake in company via €109.4M share issuance at €33.40/share

      • Notable Decliners

        • -13.5% CPI.LN (Capita £2.82, -0.44) -- updates on Civil Service Pension Scheme contract

        • -12.1% AIXA.GR (Aixtron €44.15, -6.07) -- sector move

        • -11.8% WAF.GR (Siltronic €80.90, -10.85) -- sector move

        • -8.3% IFX.GR (Infineon Technologies €70.96, -6.38) -- sector move; announces US ITC decision regards Innoscience's patent infringement upheld following review period

        • -8.1% CSH.GR (CENIT €7.74, -0.68) -- to increase its stake in ISR Information Products from 74.9% to 100%; financing of the stake increase through a rights issue

        • -8.0% STMPA.FP (STMicroelectronics €58.52, -5.06) -- sector move

        • -7.6% AMS.SW (ams-OSRAM CHF18.11, -1.50) -- sector move

        • -7.3% ASML.NA (ASML Holding €1,509.80, -118.60) -- sector move

        • -7.0% ASM.NA (ASM International €893.20, -67.80) -- sector move

        • -4.8% VACN.SW (VAT Group CHF659.60, -33.20)

        • -4.6% SAND.SS (Sandvik SEK387.90, -18.70) -- acquires CAM re-sellers in India and US; price not disclosed

        • -4.3% SESG.FP (SES €7.84, -0.35) -- Germany's Bundeswehr building one of the largest satellite constellations in the world -- Handelsblatt

        • -1.6% CRN.LN (Cairn Homes £2.15, -0.04) -- H1 trading update

        • -1.6% RHM.GR (Rheinmetall €1,111.60, -18.40) -- Lockheed Martin, Rheinmetall sign MOU; JV pending

        • -1.3% BC8.GR (Bechtle €32.16, -0.44) -- acquires two operating companies Interforce Networks BV and Interforce Hosted Solutions BV

        • -0.5% SSH1V.FH (SSH Communications Security €1.98, -0.01) -- appoints Cristian Arias as new CFO effective 1-Oct

    • EU companies reporting tomorrow:

      • Earnings:

        • France: Kaufman & Broad (KOF.FP)

        • Nordics: Industrivarden (INDU.A.SS), Admicom (ADMCM.FH)

        • UK: Jet2 (JET2.LN), Zigup (ZIG.LN), System1 Group (SYS1.LN)

      • Trading Update:

        • Nordics: TGS-NOPEC Geophysical Co. (TGS.NO), Kid (KID.NO)

        • UK: UNITE Group (UTG.LN), Pennon Group (PNN.LN), Gym Group (GYM.LN)

      • CMD/Events: Nyxoah (NYXH.BB)

  • Data:

    • Economics:

      • Germany May Industrial Production +0.9% m/m vs consensus +0.2% and prior revised +0.2% from +0.4%

      • France May Trade Balance (€6.9B) vs consensus (€5.2B) and prior revised (€5.4B) from (€5.6B)

      • UK Jun Lloyds (formerly Halifax) House Price Index +0.6% y/y vs consensus +0.3% and prior +0.5%

      • Netherlands Jun CPI +2.9% vs preliminary +2.9%

      • Finland May Industrial Production +0.6% y/y vs consensus +1.5% and prior revised +3.0% from +1.9%

    • Markets:

      • WTI Crude (Aug 26): +$1.79 or +2.61% to $70.34

      • €-$ (0.0012) or (0.10%) to 1.1430

      • £-$ (0.0013) or (0.10%) to 1.3378

      • €-£ (0.0002) to 0.8544

      • S&P 500 (0.72%)

      • Performance year-to-date

        • FTSE 100: +7.40%

        • DAX: +3.98%

        • CAC: +3.52%

        • MIB: +16.71%

        • Stoxx 600: +9.14%

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