Aug 17 ,2026
Synopsis
European equity markets are set to open higher. Asian equities mostly higher with Hong Kong outperforming with support coming from semis and tech platforms. Note South Korea closed for public holiday. S&P 500 futures slightly higher. JGB curve bear steepening following Japan GDP. Treasury yields down 1-2 bp. Crude fluctuating. Gold and silver seeing mild gains. Dollar slightly weaker against majors. Bitcoin drifting up from two-week low
Nothing particularly incremental from the Middle East. Iran repeated it is close to agreement with Oman on managing Strait of Hormuz traffic though details remain scarce, particularly around issues of fee payments and security arrangements. Iran's claim of sovereignty also remains disputed by US, which is insisting on freedom of navigation, leaving two sides no closer to consensus that will reopen the waterway. With vessels facing continued Iranian fire, shipping activity remains scarce with no movement recorded on Sunday compared to 31 vessels the prior weekend.
On the agenda for today, in central banks, ECB Lane panellist at 10:30BST at the Annual Congress of the European Economic Assn.
Light in macro releases today, Norway Jul trade balance due at 7:00 BST. Rightmove reports the average asking property price for August is 1% lower y/y; Rightmove now expects for 2026 (2%)- 0% change in house price vs prior +2% growth.
Politics/Macro/World News
EU plans most far-reaching sanctions package against Russia (Reuters )
UK:
Aug house price index (1.0%) y/y vs prior (0.4%), (2.0%) m/m vs prior (1.0%); now expects 2026 house prices 0%- (2%) vs prior +2% - Rightmove
Andy Burnham faces climate test over North Sea oil decision (FT )
More ships coming under attack in Strait of Hormuz as US-Iran diplomatic off-ramps look scarce (Bloomberg)
Top company news
Earnings/Updates:
BYLOT.GA (Bally's Intralot) -- prelim Q2 adjusted EBITDA €84.6M, +182% vs year-ago €30.0M
FTK.GR flatexDEGIRO reports final Q2/H1 earnings inline with prelim. release; reaffirms FY guidance
TRIFOR.DC Trifork Holding reports Q2 EPS €0.01 vs FactSet €0.17 [3 est, €0.10-0.27]; confirms FY guidance
M&A
MMK.AV (Mayr-Melnhof Karton) -- agrees to acquire the operations of R.D.M. Arnsberg through an asset deal; terms undisclosed
TPRO.IM (Technoprobe) -- completion of requirements for establishment of strategic partnership in China (post EU close 14-Aug)
BPT.LN (Bridgepoint Group) -- FTC grants antitrust clearance for Bridgepoint's purchase of Kayne Anderson Real Estate
SFSN.SW (SFS Group) -- FTC grants antitrust clearance for SFS Group's purchase of Heartland Precision Fasteners
Fenway Sports Group sells 30% stake in Liverpool F.C. to consortium in a deal valued at ~ £1.65B - The Guardian
Healthcare
PHO.NO (PhotoCure) -- welcomes FDA proposal to initiate the reclassification of blue light cystoscopy systems from Class III to Class II
Other
RR.LN (Rolls-Royce Holdings) -- awarded $48M US Navy firm-fixed-price modification contract
SIGN.SW (SIG Combibloc Group) -- appoints Ann-Kristin Erkens as CEO with immediate effect; replaces Mikko Keto
8S30.GR (Sphere 3D) -- SEC filing: 10-Q
57L.GR (Sono Group) -- SEC filing: 10-Q
RENE.PL (Redes Energeticas Nacionais SGPS) -- holder Pontegadea Inversiones, S.L. has transferred its ~13.7% holding to Parpública (post EU close 14-Aug)
Key rating changes
Upgrades
ACLN.SW (Accelleron Industries) -- to buy from hold at Berenberg
EVO.SS (Evolution) -- to buy from hold at ABG Sundal Collier
MAERSK.B.DC (Maersk) -- to hold from sell at Arctic Securities
Downgrades:
BOOZT.SS (Boozt Fashion) -- to hold from buy at SEB
ENDUR.NO (Endur ASA) -- to hold from buy at SEB
MOWI.NO (Mowi) -- to hold from buy at Kepler Cheuvreux
Data
Nikkei +0.47% to 69040.13
Hang Seng +1.80% to 25567.75
Shanghai Composite +1.00% to 3966.40
S&P futures +11.8 vs prior close of 7805.0
€-$ +0.0022 or +0.19% to 1.1590
$-¥ (0.24) or (0.15%) to 159.08
€-¥ +0.07 or +0.04% to 184.34
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