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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE (0.23%), DAX (0.04%), CAC40 (0.08%)

Aug 12 ,2026

  • Synopsis

    • European equity markets are set for a negative open. Follows mixed performance on Tuesday. Asian equity markets mixed. Kospi outperforms on gains in memory stocks. Japan a bit higher. Hang Seng underperforms, but mainland China firmer. US equity futures slightly higher with S&P up +0.1%.

    • Markets cautious amid doubts over claims that deal on Strait of Hormuz is close. Trump countered Iran's Hormuz-reopening conditions with demands for compensation over past conflict deaths, dimming near-term deal prospects. Iran maintaining its hardline position that Strait will not reopen until its expanded list of demands are met. Two sides locked in standoff with US military firing on cargo ship attempting to make a run past naval blockade. Tensions elevated elsewhere after Houthis struck commercial vessels in Red Sea.

    • The first total solar eclipse visible from mainland Europe in 27 years will be seen from parts of Greenland, Iceland, Portugal and Spain. Much of the rest of Europe will experience a partial eclipse (Space.com). In UK, eclipse begins shortly after 18:00BST, with most of the sun covered shortly after 19:00 and event ends after 20:00.

    • Bank of France said economy will maintain growth momentum in current quarter, with GDP seen rising 0.2% in three months through to September, based on monthly poll of businesses. German press said Berlin anticipating government could lose its AAA credit rating. On of the UK's largest real estate developers Bellway has called on UK government to bring back Help to Buy and cut stamp duty to stimulate subdued housing market.

    • In central banks, Norges Bank Investment Management execs present the H1 results and AI initiatives at 10:00CET at Arendal Week. ECB publishes its latest supervision newsletter at 11:00CET. Elsewhere, OPEC and IEA latest monthly oil market reports, the IEA also publishing its Annual Statistical Supplement 2026 Edition in conjunction with this month's report. Also, after the EU close, there's MSCI regular index reviews.

    • Macro data sees Germany Jul final CPI, Italy Jul final CPI, Portugal Jul final CPI, Belgium Jun industrial production.

    • Earnings were dominated by the DACH region, with E.ON (EOAN.GR), TUI (TUI1.GR), Brenntag (BNR.GR), Hannover Re (HNR1.GR) and Bechtle (BC8.GR) among the key names reporting, while K+S (SDF.GR) and TKMS (TKMS.GR) also raised their FY guidance. In the Nordics, Vestas Wind Systems (VWS.DC), Demant (DEMANT.DC) and Sampo (SAMPO.FH) reported, with Vestas raising its FY adjusted EBIT margin guidance and announcing a new share buyback, while Demant raised its organic growth guidance. Elsewhere, ABN AMRO (ABN.NA) was the main Benelux name reporting.

  • Top company news

    • Earnings/updates

      • Benelux:

        • ABN.NA (ABN AMRO Bank) -- reports Q2 EPS €0.90 vs consensus €0.78

        • ENVI.NA (Envipco Holding) -- reports Q2 EPS (€0.06) vs FactSet (€0.02) [5 est, (€0.05)-0.01]

        • SHUR.BB (Shurgard Self Storage) -- reports H1 Adj. EPRA EPS €0.77 vs FactSet €0.79 [2 est, €0.78-0.79]; lowers FY guidance

      • DACHs:

        • WIE.AV (wienerberger) -- confirms prelim Q2/H1 earnings and FY26 outlook as per 21-Jul update

        • DOU.GR (Douglas) -- reports Q3 net income (€3.8M) ex-items vs FactSet (€6.8M) [3 est, (€21.9)-3M]; FY guidance confirmed

        • HNR1.GR (Hannover Re) -- reports Q2 net income €695.3M vs consensus €682M; remains on track to achieve full-year guidance

        • JEN.GR (Jenoptik) -- reports Q2 EPS €0.40 vs FactSet €0.41 [3 est, €0.39-0.42]; specifies 2026 guidance to upper half of the previous range

        • BIKE.GR (Bike24 Holding) -- reports Q2 net income €0.6M vs year-ago €0.3M; FY guidance confirmed

        • GSC1.GR (GESCO SE) -- reports H1 EPS €0.75 vs FactSet €0.60 [1 est]

        • MZX.GR (Masterflex) -- reports H1 net income €5.3M vs year-ago €4.9M; 2026 guidance confirmed

        • BC8.GR (Bechtle) -- confirms prelim Q2/H1 earnings and upgraded FY26 forecast as per 28-Jul update

        • INH.GR (INDUS Holding) -- reports H1 EPS €2.49 vs year-ago €1.13

        • SDF.GR (K+S AG) -- reports Q2 EBITDA €175.9M vs consensus €142.2M; raises FY26 EBITDA guidance

        • BLKB.SW (Basellandschaftliche Kantonalbank) -- reports H1 net profit CHF96.5M, +5% vs year-ago CHF91.6M

        • HAW.GR (Hawesko Holding) -- reports H1 operating EBIT €5.1M vs year-ago €6.1M

        • NCH2.GR (thyssenkrupp nucera) -- reports Q3 EPS (€0.01) vs FactSet (€0.02) [2 est, (€0.03)-(0.01)]; updates its outlook for FY25/26

        • TKMS.GR (TKMS AG & Co. KGaA) -- reports 9M Adjusted EBIT €110M, +12% vs year-ago €98M; further raises guidance for the full year 2025/26

        • 1SXP.GR (SCHOTT Pharma) -- reports Q3 EPS €0.26 vs FactSet €0.26 [4 est, €0.26-0.27]; confirms FY26 forecast

        • EOAN.GR (E.ON SE) -- reports H1 adj net income €1.92B vs consensus €1.92B; FY26 guidance confirmed

        • BNR.GR (Brenntag) -- reports Q2 EPS €1.23 vs FactSet €1.73 [3 est, €1.41-2.20]; confirms FY guidance

        • TUI1.GR (TUI Group) -- reports Q3 underlying EPS €0.19 vs FactSet €0.20 [1 est]; FY26 guidance reaffirmed

        • 5E7.GR (ERock, Inc.) -- reports Q2 net income ($67.7M) vs year-ago ($8.0M)

        • GBF.GR (Bilfinger) -- reports Q2 EPS €1.47 vs FactSet €1.46 [2 est, €1.44-1.47]; confirms FY26 outlook

        • FYB.GR (Formycon) -- reports H1 adjusted EBITDA (€6.9M) vs year-ago (€19.2M)

        • GYC.GR (Grand City Properties) -- reports H1 FFO I €0.52 vs FactSet €0.53; confirms FY guidance

        • NCH2.GR (thyssenkrupp nucera) -- adjusts FY25/26 guidance following decision to exit production of SOEC stacks

      • Nordics:

        • DEMANT.DC (Demant) -- reports H1 EBIT Adj. DKK2.13B vs consensus DKK2.08B; raises FY Organic growth guidance to +6-7% vs prior +3-6%

        • TAALA.FH (Taaleri) -- reports Q2 EPS €0.13 vs year-ago €0.07

        • BORR.NO (Borr Drilling) -- reports Q2 net income ($241.4M) from prior quarter ($29.0M)

        • GLA1V.FH (Glaston) -- reports Q2 EPS €0.05 vs year-ago €0.02

        • FNM.SS (Ferronordic) -- reports Q2 EPS SEK3.08 vs FactSet SEK0.73 [1 est]

        • RAIVV.FH (Raisio) -- reports Q2 comparable EPS €0.03 vs FactSet €0.04 [5 est, €0.04-0.04]; FY26 guidance remains unchanged

        • VWS.DC (Vestas Wind Systems) -- reports Q2 net income attributable €280M vs consensus €144M; raises FY adj. EBIT margin guidance, announces new share buyback

        • SITOWS.FH (Sitowise Group) -- reports Q2 EPS (€0.01) vs FactSet €0.05 [3 est, €0.01-0.11]

        • SAMPO.FH (Sampo) -- reports Q2 operating EPS €0.14 vs consensus €0.15

    • M&A

      • KRX.ID (Kingspan Group) -- acquires BMC Manufacturing Group

      • EN.FP (Bouygues) -- FTC grants antitrust clearance for Bouygues SA's purchase of Suit-Kote Corporation

      • HLS.AU (Healius) -- Crescent Capital joins race for Healius' Agilex Biolabs - The Australian

      • ENRO.SS (Eniro Group) -- to sell Dynava to Servana for SEK 102M

      • PPT.AU (Perpetual) -- Janus Henderson's interest in Perpetual limited to its Barrow Hanley brand - The Australian, seemingly citing sources

      • NOL.NO (Northern Ocean) -- Norway's FSA approves offer document in connection with Hemen Holding's mandatory offer for Northern Ocean

      • JEN.BB (Jensen-Group) -- to increase shareholding in Inwatec ApS to 100% (from 70%)

      • Investor group, including Jeff Bezos, nearing deal at an $8B valuation for stake with an option to acquire entire Liverpool team - media report

    • Other

      • BA.LN (BAE Systems) -- awarded $149.8M US Navy contract

      • TEMN.SW (Temenos) -- to launch new up-to-CHF100M share-buyback program tomorrow

      • LGEN.LN (Legal & General Group) -- Street Takeaways - Legal & General Group H1 Results

      • T0A.GR (Trulieve Cannabis) -- Trulieve completes Redomicile from British Columbia to Delaware

      • 6LL.GR (Lime) -- SEC filing: 10-Q

      • SpaceXAI's releases new AI product; Data Center buildout stretches power prices, insurance limits in intraday themes (11-Aug)

  • Key rating changes

    • Upgrades

      • SRP.LN (Serco Group) -- outperform from neutral at BNP Paribas Exane

      • SBMO.NA (SBM Offshore) -- overweight from equal weight at Barclays

      • ZEHN.SW (Zehnder Group) -- buy from hold at Kepler Cheuvreux

      • Barclays upgrades AKE.FP, AKZA.NA

      • CLN.SW (Clariant) -- to buy from hold at Berenberg

    • Downgrades

      • HAUTO.NO (Höegh Autoliners) -- hold from buy at Pareto

      • MRL.SM (MERLIN Properties SOCIMI) -- hold from buy at Kepler Cheuvreux

      • NOVO.B.DC (Novo Nordisk) -- to hold from buy at Berenberg

      • DIA.IM (Diasorin) -- to sell from neutral at UBS

      • BNZL.LN (Bunzl) -- to hold from buy at Deutsche Numis

    • Initiations

      • RPI.LN (Raspberry Pi Holdings) -- hold at Berenberg

      • KSB3.GR (KSB) -- pref shares outperform at Oddo

    • Other Actions

      • Goldman Sachs assumes CLN.SW, EVK.GR, KRZ.ID, and LXS.GR

      • Deutsche Bank initiates HOT.GR; transfers ACS.SM

  • Data

    • Nikkei +0.80% to 67505.98

    • Hang Seng (1.10%) to 25371.81

    • Shanghai Composite +0.16% to 3940.35

    • S&P futures +8.5 vs prior close of 7747.5

    • €-$ (0.0010) or (0.09%) to 1.1534

    • $-¥ +0.12 or +0.07% to 159.41

    • €-¥ +0.00 or +0.00% to 183.86

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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