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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.07%), DAX +0.08%, CAC40 (0.01%)

Aug 11 ,2026

  • Synopsis

    • European equity futures point to a mixed start Tuesday, after ending little changed on Monday. Asian equities also mixed. Note Japan is closed for Mountain Day holiday. S&P 500 futures up slightly afterhours. US equities were lower in Monday trading, though downside was fairly limited. Bonds mixed. US 10Y little changed. Gilts little changed but still back above 5%. Crude slightly higher, following yesterday's strong gain. Gold retreating after gains traded near Jun highs. US Dollar stronger vs Aussie, weaker vs Cad but little changed elsewhere. Bitcoin down to one-week low.

    • Middle East diplomacy remains the dominant swing factor after President Trump countered Iran's Hormuz-reopening conditions with demands for compensation over past conflict deaths, dimming near-term deal prospects.

    • On the macro agenda for today, Italy Jun trade balance due at 9:00 BSY. BRC reports total retail sales increased by +1.3% y/y in July in the UK.

    • European news flow also comparatively light, with markets largely taking cues from the Middle East standoff and implications for energy costs and shipping, where Iran and Oman are reportedly nearing a long-term management agreement despite hardline resistance in Tehran.

  • Politics/Macro/World News

    • Trump Hardens Stance on Iran, Clouding Hopes for Hormuz Deal (Bloomberg)

    • Aluminum Hits Seven-Week High as Hormuz Impasse Threatens Supply (Bloomberg)

    • UK Total retail sales increased by +1.3% y/y in July vs year-ago +2.5% growth (BRC)

    • Netherlands Jul CPI +3.2% vs prelim +3.1%

  • Top company news

    • Earnings/updates

      • SZG.GR (Salzgitter) -- Q2 net income (€38.4M) vs year-ago (54.3M)

      • JUN3.GR (Jungheinrich) -- final Q2 earnings as per 23-Jul release: reports net income €47M vs FactSet €46.8M [2 est, €46.5-47M]

      • UN0.GR (Uniper) -- H1 adj net income €388M vs year-ago €135M; FY 2026 guidance confirmed with lower end of forecast range raised for both indicators

      • TECN.SW (Tecan Group) -- H1 EPS CHF2.62 ex-items vs FactSet CHF2.51 [3 est, CHF2.41-2.65]; FY guidance confirmed

      • LKFT.NA (Lakefront Biotherapeutics) -- H1 EPS €0.25 vs year-ago (€3.93)

      • TEG.GR (TAG Immobilien) -- H1 FFO €0.53 vs FactSet €0.53; Expects FFO I at the upper end of FY guidance range

      • CEZ.CP (CEZ) -- H1 adj net income CZK17.80B, +7% vs year-ago CZK16.60B; raises FY guidance

      • DMP.GR (Dermapharm Holding) -- H1 adj EBITDA €163.2M, +10% vs year-ago €148.0M; FY26 outlook confirmed

      • NOEJ.GR (Norma Group) -- Q2 adj EPS €0.14 vs year-ago (€0.19); confirms FY26 forecast

      • PAT.GR (Patrizia) -- H1 net income €14.7M vs year-ago €4.7M; confirms FY guidance

      • ICOP.IM (I. CO. P.) -- prelim H1 adj EBITDA ~ €52M vs FactSet €46.3M [2 est, €46-46.6M]; reaffirms FY guidance

      • RVRC.SS (RVRC Holding) -- Q4 EPS SEK0.49 vs FactSet SEK0.53 [5 est, SEK0.50-0.56]

      • STOR.B.SS (Storskogen Group) -- Q2 adj. EPS SEK0.23 vs FactSet SEK0.26 [1 est]

      • WAWI.NO (Wallenius Wilhelmsen) -- Q2 EPS $0.29 vs FactSet $0.30 [8 est, $0.21-0.36]; reaffirms FY guidance

    • M&A

      • +NR.LN (Network Rail) -- Enviri II Corp.(NVRI) announces conclusion of engineered-to-order contracts with Deutsche Bahn and Network Rail

      • PNE3.GR (PNE) -- updates on ongoing sales process

      • JLP.LN (Jubilee) -- updates on strategic transaction to accelerate copper growth; will sell its Large Waste Project

    • Healthcare

      • GALD.SW (Galderma Group) -- Galderma receives EU approval for Restylane Shaype

      • IDIA.SW (Idorsia) -- acknowledges US's DEA proposal to reclassify dual orexin receptor antagonists to the lowest schedule - Schedule V

      • ONCIN.NO (Oncoinvent) -- announces publication of clinical dosimetry data for Radspherin in the Journal of Nuclear Medicine

  • Key rating changes

    • Upgrades

      • ACX.SM (Acerinox) -- to neutral from underweight at JPMorgan

      • APAM.NA (Aperam) -- to overweight from neutral at JPMorgan

      • OUT1V.FH (Outokumpu) -- to overweight from neutral at JPMorgan

      • SAAB.B.SS (Saab) -- to overweight from underweight at Barclays

    • Downgrades

      • LGEN.LN (Legal & General Group) -- to sell from neutral at UBS; to sell from neutral at Goldman Sachs

    • Initiations

      • BA.LN (BAE Systems) -- sector perform at RBC Capital Markets

      • BOSS.GR (Hugo Boss) -- buy at Berenberg

      • BAB.LN (Babcock International Group) -- overweight at Barclays

      • CSG.NA (CSG NV) -- initiated underweight at Barclays; sector perform at RBC Capital Markets

      • HO.FP (Thales) -- outperform at RBC Capital Markets

      • KOG.NO (Kongsberg Gruppen) -- overweight at Barclays

      • LDO.IM (Leonardo) -- outperform at RBC Capital Markets

      • RHM.GR (Rheinmetall) -- outperform at RBC Capital Markets

      • R3NK.GR (Renk Group) -- overweight at Barclays

  • Data

    • Nikkei closed

    • Hang Seng (0.73%) to 25747.49

    • Shanghai Composite (0.28%) to 3955.45

    • S&P futures +6.0 vs prior close of 7776.8

    • €-$ (0.0002) or (0.02%) to 1.1542

    • $-¥ (0.09) or (0.06%) to 159.21

    • €-¥ (0.12) or (0.07%) to 183.75

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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