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StreetAccount Summary - EU Market Recap: FTSE 100 +0.20% to 10879.38, DAX +0.77% to 26202.35, CAC40 +0.61% to 8666.63, STOXX 600 +0.73% to 656.86

Aug 04 ,2026

  • Synopsis:

    • European equity markets closed higher, with Stoxx 600 at fresh all-time high. Basic Resources, Technology lead on earnings and metals; Energy and Retail lag. Follows mostly firmer on Monday.

    • Investors continue to key off latest earnings and Middle East developments. Several big names reporting in Europe. Commentary flagged region's earnings trajectory turning more positive with improving breadth. US TSC Bessent said deal with Iran could be reached tomorrow to reopen Hormuz. Trump claimed settlement would see no fees charged for Hormuz passage, describing it as last chance for Iran "before decapitation". Yet, no confirmation from Iran, but talks were ongoing with Oman.

    • Very quiet macro calendar in Europe. French budget deficit widened ytd, Spanish unemployment increased in July. Meanwhile, EU home affairs ministers will use an emergency meeting Tuesday to give backing to Spain after arrival of tens of thousands of migrants in Spanish enclave of Ceuta last week.

    • A busy day for earnings with initial focus on HealthCare companies with Fresenius Medical Care (FME.GR), ConvaTec Group (CTEC.LN), Bayer AG (BAYN.GR) and Smith & Nephew (SN.LN) all reporting Q2 earnings. In Banking, HSBC Holdings (HSBA.LN) delivered a strong set of Q2 numbers, beating expectations across the board and announcing a share buyback of up to $1B. In Airlines, Deutsche Lufthansa (LHA.GR) is trading lower after missing Q2 adjusted EBIT expectations and lowering its FY26 guidance. In Retail and Personal Goods, Zalando (ZAL.GR) and Hugo Boss (BOSS.GR) both issued Q2 earnings. In Energy, BP (BP.LN) reported solid Q2 results, with profitability ahead of consensus expectations led by strong oil trading results across all business units. In Chemicals, Evonik Industries (EVK.GR) is trading higher after posting better-than-expected Q2 earnings. In Mining, Fresnillo (FRES.LN) released Q2 earnings and confirmed its FY26 guidance.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 03-Aug to 07-Aug attached) Voestalpine (VOE.AV), Novo Nordisk (NOVO.B.DC), Siemens Energy (ENR.GR), Infineon Technologies (IFX.GR), DHL Group (DHL.GR), Fresenius (FRE.GR),BPER Banca (BPE.IM), Banco BPM (BAMI.IM), Heineken (HEIA.NA), Koninklijke Ahold Delhaize (AD.NA), Sandoz Group (SDZ.SW), Glencore (GLEN.LN), Coca-Cola HBC (CCH.LN) and Legal & General Group (LGEN.LN) will be amongst other names to update investors, whilst the macro-calendar releases will include Italy, Spain, Sweden Jul services PMI and final reads for Eurozone, France, Germany, UK, France Jun industrial production, Eurozone Jun PPI, Portugal Q2 unemployment rate. Holiday: Croatia (National Day).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +3.55%, Technology +2.77%, Ind Goods & Svcs +1.69%, Financial Svcs +1.24%, Construct & Mtls +1.15%, Chemicals +0.91%,

      • Underperformers:

        • Energy(1.68%), Retail (0.72%), Food, Beverage and Tobacco (0.63%), Personal Care Drug and Grocery Stores (0.60%), Insurance (0.22%), Consumer Products and Services (0.08%), Utilities (0.02%), Travel & Leisure +0.01%, Autos & Parts +0.11%, Telecom +0.51%, Banks +0.52%, Media +0.63%, Real Estate +0.71%,

    • Macro/Peripheral markets:

      • Geopolitics

        • Democratic-led states sue to block Trump's latest wave of tariffs - Politico

        • Ukraine hits more Wildberries sites as strike kills five in Moscow region - BBC

        • Bessent says there may be deal Tuesday or Wednesday to open Strait of Hormuz with 'freedom of movement' - CNBC

        • Iran demands inbound control of Hormuz and outbound oversight, source says - Reuters

      • EU

        • EU ministers to back Spain as Ceuta crisis pushes migration up the agenda - Politico

        • Russia expands shadow LNG fleet to beat EU crackdown - FT

        • EU Eyes Winter LNG Buys as Storage Hits Near Two-Decade Low - Bloomberg

      • UK

        • Calls for UK bank tax to fund cost of living help as HSBC profits hit £7.5bn - The Guardian

        • North Sea is not competitive, BP boss says - The Telegraph

      • France

        • Heatwaves and wildfires threaten France's deficit reduction goals - Le Monde

      • Germany

        • German Defense Maker to Scoop Up Unwanted Auto Workers - Bloomberg

    • Company news:

      • Trading Higher:

        • +18.8% TPK.LN (Travis Perkins £6.78, +1.08) -- earnings

        • +13.3% HEX.NO (Hexagon Composites NOK12.15, +1.46) -- Pareto upgrade

        • +11.1% ASMDEE.B.SS (Asmodee Group AB SEK159.20, +16.40) -- earnings

        • +11.1% SYNT.LN (Synthomer £1.04, +0.10) -- earnings

        • +9.6% CGEO.LN (Georgia Capital £44.75, +3.95) -- earnings

        • +9.1% MIO.ID (Mincon Group €0.70, +0.06) -- earnings

        • +8.5% FAN.LN (Volution Group £6.65, +0.54) -- acquires Germany's getAir for €40.0M (~£34.0M)

        • +7.9% BESI.NA (BE Semiconductor Industries €212.90, +16.00) -- Berenberg upgrade

        • +7.0% VBK.GR (Verbio €29.52, +1.92) -- FY guidance

        • +6.9% STAB1L.GR (Stabilus €16.22, +1.04)

        • +6.8% NOHO.FH (NoHo Partners €8.15, +0.52) -- earnings

        • +6.2% TEM1V.FH (Tecnotree €6.19, +0.36) -- earnings

        • +6.0% JMAT.LN (Johnson Matthey £20.66, +1.18) -- reinstated buy at Jefferies

        • +5.6% ATS.AV (AT & S Austria Technologie & Systemtechnik €145.40, +7.80) -- earnings

        • +4.8% GRP.GR (Greencoat Renewables €0.79, +0.04)

        • +4.1% CSG.NA (CSG NV €17.90, +0.73) -- acquires Gnaschwitz industrial site in Germany

        • +3.8% WIZZ.LN (Wizz Air Holdings £10.90, +0.42) -- July traffic

        • +3.0% BAYN.GR (Bayer AG €48.96, +1.40) -- earnings

        • +3.0% AMS.SW (ams-OSRAM CHF17.26, +0.50) -- earnings

        • +2.6% EPI.A.SS (Epiroc SEK250.00, +6.30) -- completes acquisition of Eventspec Proprietary Limited

      • Trading Lower:

        • -12.5% ZAL.GR (Zalando €25.09, -3.65) -- earnings; lowers FY guidance

        • -8.3% LHA.GR (Deutsche Lufthansa €8.42, -0.76) -- earnings; lowers FY guidance

        • -8.0% FME.GR (Fresenius Medical Care €40.96, -3.57) -- earnings

        • -7.8% CLI.LN (CLS Holdings £0.48, -0.04) -- trading update

        • -7.4% FTC.LN (Filtronic £2.28, -0.19) -- earnings

        • -7.1% ANA.SM (Acciona €211.60, -16.40) -- Acciona holder Tussen de Grachten, B.V. places ~1.65M share at €217.90/share

        • -7.0% PHO.NO (PhotoCure NOK48.60, -3.60) -- had in accordance with its license agreement with Asieris invoiced the applicable milestone payment of $11M

        • -6.8% TTR1.GR (technotrans €29.80, -2.15) -- earnings

        • -6.2% SN.LN (Smith & Nephew £11.28, -0.75) -- earnings; lowers FY guidance

        • -6.0% BAG.LN (A.G. BARR £5.97, -0.39) -- trading update

        • -5.2% ALCRB.FP (Carbios €6.77, -0.38) -- delays financial close initially expected by 30-Sep-26 for Longlaville project as due diligence continues

        • -5.1% SFER.IM (Salvatore Ferragamo €9.58, -0.53) -- earnings

        • -5.1% CPI.LN (Capita £2.54, -0.14) -- earnings

        • -5.1% MTRO.LN (Metro Bank Holdings £1.61, -0.09) -- earnings

        • -4.5% SBRE.LN (Sabre Insurance Group £1.77, -0.08) -- earnings

        • -4.3% CCEP.NA (Coca-Cola Europacific Partners €90.10, -4.00) -- earnings

        • -4.3% WSU.GR (Washtec €38.20, -1.70) -- earnings

        • -4.0% ELG.GR (Elmos Semiconductor €143.60, -6.00) -- earnings

        • -3.4% SHI.LN (SIG £0.09, -0.00) -- earnings

        • -3.1% VOLCAR.B.SS (Volvo Car SEK19.70, -0.64) -- May-Jul car sales

        • -2.0% IQMX.FH (IQM Quantum Computers Oyj €8.86, -0.17) -- earnings

        • -1.9% PSON.LN (Pearson £12.21, -0.24) -- Goldman Sachs downgrade

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: Voestalpine (VOE.AV)

        • Belgium: Viohalco (VIO.BB), Nyxoah (NYXH.BB)

        • Denmark: Novo Nordisk (NOVO.B.DC), Ringkjøbing Landbobank (RILBA.DC)

        • Finland: Etteplan (ETTE.FH), HKFoods (HKFOODS.FH),Biohit (BIOBV.FH)

        • Germany: Siemens Energy (ENR.GR), Infineon Technologies (IFX.GR), DHL Group (DHL.GR), Fresenius (FRE.GR), Beiersdorf (BEI.GR), Vonovia (VNA.GR), Schaeffler (SHA0.GR), Springer Nature (SPG.GR), Kloeckner & Co. (KCO.GR), ZEAL Network (TIMA.GR), Basler (BSL.GR), Elringklinger (ZIL2.GR), Masterflex (MZX.GR)

        • Greece: Public Power Corp. (PPC.GA), HELLENiQ ENERGY Holdings (ELPE.GA)

        • Italy: BPER Banca (BPE.IM), Banco BPM (BAMI.IM), Technoprobe (TPRO.IM), Interpump Group (IP.IM), BFF Bank (BFF.IM), doValue (DOV.IM), Trevi-Finanziaria Industriale (TFIN.IM)

        • Netherlands: Heineken (HEIA.NA), Koninklijke Ahold Delhaize (AD.NA), Wolters Kluwer (WKL.NA)

        • Other: Magyar Telekom Telecommunications (MTEL.HB)

        • Sweden: Coffee Stain Group (COFFEE.B.SS), Orrön Energy (ORRON.SS), Xspray Pharma (XSPRAY.SS)

        • Switzerland: Sandoz Group (SDZ.SW)

        • UK: Glencore (GLEN.LN), Coca-Cola HBC (CCH.LN), Legal & General Group (LGEN.LN), Beazley (BEZ.LN), Hiscox (HSX.LN), Air Astana (AIRA.LN), 4imprint Group (FOUR.LN), Diversified Energy (DEC.LN), Ibstock (IBST.LN), Zotefoams (ZTF.LN), Videndum (VID.LN)

      • Trading Update:

        • DACHs: R&S Group Holding (RSGN.SW)

        • France: Neurones (NRO.FP), Actia Group (ALATI.FP)

        • UK: Next (NXT.LN)

      • Sales: Avanza Bank Holding (AZA.SS), Nordnet (SAVE.SS), flatexDEGIRO (FTK.GR)

      • CMD/Events: AkzoNobel (AKZA.NA) shareholder vote on merger with Axalta, Sleep Cycle (SLEEP.SS) shareholder vote concerning Snark BidCo proposal

  • Data:

    • Economics:

      • Italy Jun Retail Sales +3.1% y/y vs consensus +1.4% and prior +2.2%

      • Spain Jul Unemployment Change +19.5K vs consensus (20.3K) and prior (28.7K)

    • Markets:

      • WTI Crude (Sep 26): ($3.82) or (4.75%) to $76.52

      • €-$ +0.0015 or +0.13% to 1.1524

      • £-$ +0.0015 or +0.11% to 1.3449

      • €-£ +0.0001 to 0.8567

      • S&P 500 +1.35%

      • Performance year-to-date

        • FTSE 100: +9.55%

        • DAX: +6.99%

        • CAC: +6.35%

        • MIB: +19.13%

        • Stoxx 600: +10.92%

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