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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.27%, DAX +0.29%, CAC +0.10%

Aug 04 ,2026

  • Synopsis

    • European equity markets set to open in positive territory amidst Asian equities mixed Tuesday. S&P 500 futures advancing afterhours. JGBs rebounding following Monday's yield backup while Treasuries flat. Crude recovering alongside gold and silver. Dollar edging higher against yen, steady against most other currencies. Bitcoin strengthening.

    • Oil rebounding following extended selloff on Middle East diplomatic traction. Iran denied Trump's claim two sides are in talks though confirmed negotiations with Oman on Strait of Hormuz continuing. Trump threatened final chance for Tehran to reach deal before "decapitation" though market remains doubtful of return to full war and seemingly more focused on prospect of a diplomatic offramp that will reopen Strait of Hormuz (possibly with some level of Iranian control).

    • Macroeconomic updates include Italy Jun retail sales and Spain Jul unemployment change.

    • In corporate news, Fresenius Medical Care (FME.GR) posted Q2 earnings and confirmed FY26 outlook. Continental (CON.GR) posted Q2 earnings. Deutsche Lufthansa (LHA.GR) reported Q2 net income €123M vs consensus €310.8M and commented on its FY26 outlook. Bayer AG (BARN.GR) is also out with Q2 earnings and confirmed guidance. Other DACH names that released earnings included Evonik Industries (EVK.GR), LEG Immobilien (LEG.GR), AT & S Austria Technologie & Systemtechnik (ATS.AV), Zalando (ZAL.GR) and ams-OSRAM (AMS.SW).

    • In the UK, HSBC Holdings (HSBA.LN) is out with Q2 numbers. BP (BP.LN), Fresnillo (FRES.LN), Smith & Nephew (SN.LN), ConvaTec Group (CTEC.LN), Rotork (ROR.LN) and Domino's Pizza Group (DOM.LN) are expected to release their respective earnings updates today. Out of the Nordics, Volvo Car (VOLCAR.B.SS) is about to release sales figures.

    • CMD/Events include: Vanquis Banking Group (VANQ.LN) investor meet company presentation (registration link) at 15:00BST, SRT Marine Systems (SRT.LN) business update call, Cloudberry Clean Energy (CLOUD.NO) shareholder vote in connection with acquisition of wind assets. Elsewhere, Halfords (HFD.LN) will enter the FTSE250 index.

  • Politics/Macro/World News

    • US states accuse Trump administration of 'sham' tariff probe - FT

    • Trump says talks are Iran's last chance - Bloomberg

    • Tory party rebuilds relations with UK business after rocky two years - FT

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

  • Top company news

    • Earnings/updates

      • DACH

        • FME.GR (Fresenius Medical Care) -- expects operating income ex-items to be above market expectations in 2Q26; confirms FY26 outlook

        • ZAL.GR (Zalando) -- reports Q2 net income €73.8M vs consensus €96.5M; now expects GMV and revenue growth in lower half of its previous 12% to 17% range

        • EVK.GR (Evonik Industries) -- reports Q2 EPS €0.65 vs FactSet €0.55 [3 est, €0.51-0.58]; confirms FY guidance

        • ATS.AV (AT & S Austria Technologie & Systemtechnik) -- reports Q1 EPS €0.93 vs FactSet €0.86 [2 est, €0.80-0.92]; confirms FY outlook

        • ADV.GR (Adtran Networks) -- reports Q2 pro-forma EBIT €4.4M vs year-ago (€7.4M)

        • VBK.GR (Verbio) -- guides FY26 EBITDA €192M vs prior guidance €160-180M and FactSet €160.8M [4 est, €137-187M]

        • AAD.GR (Amadeus FiRe) -- reports H1 EPS (€0.69) vs year-ago €0.12

        • CON.GR (Continental) -- reports Q2 net income €274M vs FactSet €265.4M [3 est, €234-288.2M]; guides FY26 outlook excluding ContiTech

        • FRE.GR (Fresenius Medical Care) -- reports Q2 EPS €0.81 vs consensus €0.68; reaffirms FY 2026 outlook

        • AMS.SW (ams-OSRAM) -- reports Q2 EPS (€0.56) ex-items vs FactSet (€0.19) [4 est, (€0.39)-0.05]

        • TTR1.GR (technotrans) -- reports H1 EBIT €8.0M vs year-ago €8.4M; confirms guidance for the 2026 financial year

        • LHA.GR (Deutsche Lufthansa) -- reports Q2 net income €123M vs consensus €310.8M; comments on FY26 outlook

        • LEG.GR (LEG Immobilien) -- reports H1 FFO €1.46 vs year-ago €1.70

        • BAYN.GR (Bayer AG) -- reports Q2 Core EPS €0.95 vs consensus €0.73; confirms currency-adjusted FY guidance

        • ELG.GR (Elmos Semiconductor) -- reports Q2 EPS €1.23 vs FactSet €1.65 [1 est]; reaffirms FY guidance

      • UK

        • HSBA.LN (HSBC Holdings) -- reports Q2 EPS $0.45 vs consensus $0.42

      • Southern Europe

        • SFER.IM (Salvatore Ferragamo) -- reports H1 net income €1.5M vs consensus (€1.8M)

      • Nordics

        • IQMX.FH (IQM Quantum Computers Oyj) -- reports H1 net income (€36.6M) vs year-ago (€15.0M)

        • ASMDEE.B.SS (Asmodee Group AB) -- reports Q1 adjusted EPS €0.13 vs FactSet €0.13 [5 est, €0.11-0.15]

        • NOHO.FH (NoHo Partners) -- reports Q2 EPS €0.13 vs FactSet €0.12 [4 est, €0.09-0.13]

    • M&A

      • AZN.LN (AstraZeneca) -- holders express reservations about potential merger with Bristol Myers Squibb - FT

      • III.LN (3i Group) -- acquires the Massachusetts Central Railroad; terms undisclosed

      • FGR.FP (Eiffage) -- announces end of exclusive negotiations with Atlas Arteria for possible acquisition of Warnow Tunnel concession in Rostock, Germany; did not result in an agreement

      • AKVA.NO (AKVA Group) -- Board of AKVA and Submerged AS have approved previously announced merger

    • Healthcare

      • SAN.FP (Sanofi) -- European Commission (EC) approves Sanofi's MenQuadfi for use in infants from age six weeks against invasive meningococcal disease

    • Other

      • STLAM.IM (Stellantis) -- files automatic mixed shelf of indeterminate amount - F-3ASR

      • GALP.PL (Galp Energia SGPS) -- Galp Energia to distribute interim dividend of €0.35 per share

      • ANA.SM (Acciona) -- holder Tussen de Grachten, B.V. placing ~1.65M shares via accelerated bookbuild

  • Key rating changes

    • Upgrades

      • BESI.NA (BE Semiconductor Industries) -- to buy from hold at Berenberg

      • HEX.NO (Hexagon Composites) -- to buy from hold at Pareto

      • SBRY.LN (J Sainsbury) -- to neutral from sell at Goldman Sachs

      • SUBC.NO (Subsea 7) -- to outperform from neutral at BNP Paribas Exane

    • Downgrades

      • PSON.LN (Pearson) -- to neutral from buy at Goldman Sachs

      • UTG.LN (UNITE Group) -- to neutral from outperform at Oddo

      • KTN.GR (Kontron) -- to neutral from outperform at Oddo

      • ADS.GR (Adidas) -- to neutral from buy at UB

    • Initiations

      • GEKTERNA.GA (GEK Terna) -- buy at UBS

    • Other Actions

      • JMAT.LN (Johnson Matthey) -- reinstated buy at Jefferies; prior rating was buy

  • Data

    • Nikkei (0.06%) to 63715.59

    • Hang Seng (0.89%) to 25778.44

    • Shanghai Composite +0.47% to 3827.68

    • S&P futures +19.0 vs prior close of 7628.3

    • €-$ (0.0003) or (0.03%) to 1.1506

    • $-¥ +0.54 or +0.35% to 157.72

    • €-¥ +0.56 or +0.31% to 181.44

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.
Please refer to "Terms Of Use".

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