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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.17%, DAX +0.20%, CAC40 +0.39%

Jul 22 ,2026

  • Synopsis

    • European indices are set to open slightly higher as Asia equities trade mostly higher. South Korea remains the standout, up ~5% from the open followed by sharp gains in Japan and Taiwan. Mainland China also higher, Hong Kong lagging.

    • US equities finished higher in Tuesday trading, ending not far from best levels. Momentum rally was the big story with memory, semis, AI infrastructure names higher.

    • Market continues to largely ignore geopolitics as ceasefire hopes seem to be overshadowing elevated kinetic hostilities and worries about heightened supply disruptions as Houthis announced they were imposing a naval blockade on Saudi Arabia. Trump's 50% tariffs on select Canadian goods, China's push to boost stock market, potential China crackdown on export of AI technologies and return of $4 per gallon gasoline in the US also in the headlines.

    • In central banks, Czech central bank releases survey of bank lending conditions for Q2. In politics, EU Commission reportedly to present energy package. Elsewhere, member of the OBR's Budget Responsibility Committee, Tom Josephs, speech at 8:45BST at event hosted by OMFIF discussing the long-term outlook for the UK economy and public finances, and there's Bloomberg Sustainable Business Summit.

    • Economic data due today: UK Jun CPI, RPI, PPI input/output PPI, Ireland Jun PPI

    • Some notable earnings reported so far this morning: DSV.DC, KNEBV.FH, NCAB.SS, SSAB.A.SS, TLGO.SM, ENG.SM, EFGN.SW, AKZA.NA, KPN.NA, SAN.SM, EQNR.NO, KESKO.B.FH, LONN.SW

    • Trading updates at 7am BST: Fresnillo (FRES.LN), Greencore Group (GNC.LN), SigmaRoc (SRC.LN), JD Wetherspoon (JDW.LN), PensionBee Group (PBEE.LN), Liontrust Asset Management (LIO.LN)

  • Politics/Macro/World News

    • Finnish Government Survives Confidence Vote Sparked by Lobbying Scandal (BBG )

    • Andy Burnham backs away from costly increase to income tax allowance (FT )

  • Top company news

    • Earnings/updates

      • AIR.FP (Airbus SE) -- Airbus to present new mid-term outlook; keeps 2026 guidance unchanged and approves €5B buyback -- Investors Call at 18:30 CET

      • LONN.SW (Lonza Group) -- reports H1 CORE EBITDA CHF1.18B vs FactSet CHF1.13B [11 est, CHF1.08-1.17B]

      • EQNR.NO (Equinor) -- reports Q2 adjusted net income $3.23B vs consensus $3.38B

      • VACN.SW (VAT Group) -- reports H1 EPS CHF3.30 vs FactSet CHF3.24 [6 est, CHF2.92-3.67]

      • NHY.NO (Norsk Hydro) -- reports Q2 adj EPS NOK2.21 vs consensus NOK1.72

      • G1A.GR (GEA Group) -- reports preliminary Q2 EBITDA before restructuring expenses €250M vs FactSet €216.9M [4 est, €165.9-242M]

      • HNSA.SS (Hansa Biopharma) -- reports Q2 EPS (SEK2.56) vs FactSet (SEK0.34) [7 est, (SEK2.21)-7.75]

      • OPM.FP (OPmobility) -- reports H1 net income €102M, +13% vs year-ago €90M

      • KESKOB.FH (Kesko) -- reports Q2 comparable EPS €0.32 vs FactSet €0.33 [6 est, €0.32-0.33]; Specifies FY26 guidance

      • TKA.AV (Telekom Austria) -- reports Q2 net income €176M vs consensus €168M

      • ICAD.FP (Icade) -- reports H1 net income (€155.9M) vs year-ago (€91.7M)

      • ICEAIR.IR (Icelandair Group) -- reports Q2 net income ($32.3M) vs year-ago $12.9M

    • M&A

      • IBE.SM (Iberdrola) -- to acquire 80% stake in Caruna for €2.1B

      • 005930.KS (Samsung Electronics) -- may invest €1B (KRW1.691T) in Mistral at valuation of €20B - FT

      • NRIX (Nurix Therapeutics) -- announces HSR clearance and closing of global collaboration with Roche

      • IPN.FP (Ipsen) -- completes acquisition of Memo Therapeutics AG

      • VACN.SW (VAT Group) -- to acquire Atonarp for ~CHF110M

      • HUBN.SW (HUBER+SUHNER) -- agrees to acquire Ingun Prüfmittelbau GmbH and Ingun International GmbH; terms undisclosed

    • Healthcare

      • LONN.SW (Lonza Group) -- requests trading halt pending news release

    • Other

      • RYA.ID (Ryanair Holdings) -- Street Takeaways - Ryanair Holdings Q1 Earnings

      • GTT.FP (Gaztransport & Technigaz) -- receives an order from Samsung Heavy Industries for the design of the tanks for a new LNG carrier

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- to commence Orphan3D PSDM Phase 2 reprocessing project offshore Newfoundland and Labrador, Canada

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- to commence the Atlantic Margin South Reprocessing project, located in the Norwegian Sea

      • PAGE.LN (Michael Page) -- PageGroup rebrands as Michael Page

      • Goldman Sachs highlights World Cup beneficiaries

  • Key rating changes

    • Upgrades

      • Jefferies upgrades NESN.SW, RKT.LN; downgrades BN.FP

      • JPMorgan upgrades EPI.A.SS; downgrades SAND.SS

      • UBS upgrades SOON.SW; downgrades DEMANT.DC

      • EPI.A.SS (Epiroc) -- to buy from hold at Pareto

      • WRT1V.FH (Wartsila) -- to buy from hold at ABG Sundal Collier

      • WRT1V.FH (Wartsila) -- to hold from sell at Handelsbanken

    • Downgrades

      • ROR.LN (Rotork) -- to hold from buy at Peel Hunt

      • TPK.LN (Travis Perkins) -- to underweight from overweight at Barclays

      • WIE.AV (Wienerberger) -- to neutral from buy at Citi

      • A5G.ID (AIB Group) -- to market perform from outperform at Keefe, Bruyette & Woods

    • Initiations

      • SFZN.SW (Siegfried Holding) -- hold at Berenberg

      • ABDN.LN (Aberdeen Group) -- buy at Peel Hunt

    • Other Actions

      • PSON.LN (Pearson) -- assumed equal-weight at Morgan Stanley; prior rating was equal-weight

  • Data

    • Nikkei +0.02% to 66248.58

    • Hang Seng (1.18%) to 24836.41

    • Shanghai Composite +0.15% to 3870.10

    • S&P futures (12.8) vs prior close of 7545.8

    • €-$ +0.0007 or +0.06% to 1.1408

    • $-¥ (0.03) or (0.02%) to 163.16

    • €-¥ +0.11 or +0.06% to 186.13

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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