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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.01%), DAX +0.02%, CAC40 +0.05%

Aug 21 ,2026

  • Synopsis

    • European equity markets are set to open marginally higher; follows softer performance on Thursday. Asian equity markets mixed. US equity futures firmer. US 10-year at 4.71% after Thursday's yield reversal. Dollar a bit softer. WTI crude down 0.6% at $86.30/bbl but remains near the highest levels in a month. Gold gains. Industrial metals higher. Bitcoin extends recent gains.

    • Bond selloff in focus after Treasury yields retraced most of Wednesday's pullback. Treasury Secretary Bessent said buybacks could be larger than what was announced, though Street skeptical actions will anchor yields longer term given structural drivers like fiscal deficits and debt remain largely intact. Analysts flag concerns over increased policy uncertainty and implications for Fed independence.

    • Energy prices remain elevated. Attention on financial measures against Iran. Trump has warned US would target countries that provide lifeline to Tehran. Some thoughts measures will be aimed at China, which is Iran's major trading partner. However, there is skepticism that it will challenge its economic links with Iran and create tensions before Trump hosts Xi in September.

    • On macro front in Europe, GfK UK consumer confidence hit two-year high ahead of retail sales update. UK Jul retail sales also out before open. Aug preliminary manufacturing/services PMI data on the agenda. Expectation is for moderation in Eurozone and UK readings. ECB consumer expectations survey and indicator of negotiated wages also out. Elsewhere, UK food and drink makers have called on PM Burnham to act on costs as European drought pushes up cost of key inputs.

  • Politics/Macro/World News

    • US says it will impose 'toughest sanctions in history' on Iran (Reuters )

    • UK Consumer Confidence climbs to two-year high, GfK survey shows (Bloomberg )

    • UK PM Burnham will divert 'significant' resources out of civil service, says No. 10 North chief (Politico )

    • Swiss voters are set to reject stricter neutrality, poll shows (Bloomberg )

  • Top company news

    • Earnings/updates

      • BAVA.DC (Bavarian Nordic A/S) -- Q2 net income DKK731.6M vs FactSet DKK267.8M [5 est, DKK211-372M]; raises FY Total revenue guidance; to launch new share buy-back program of up to DKK 750M

      • EVD.GR (CTS Eventim) -- Q2 EBIT €80.4M vs FactSet €81.8M [1 est]; confirms FY guidance

      • SFZN.SW (Siegfried Holding) -- H1 core net income CHF68.2M vs FactSet CHF68.2M [4 est, CHF65.9-70.5M]

      • FIE.GR (Fielmann Group) -- guides FY26 adj EBITDA €560M-580M vs prior guidance €590M-610M and FactSet €591.8M [9 est, €579.5-604M]

      • EGTX.SS (Egetis Therapeutics) -- Q2 EPS (SEK0.20) vs FactSet (SEK0.15) [1 est]

      • APETIT.FH (Apetit) -- Q2 EPS (€0.72) vs FactSet (€0.12) [2 est, (€0.12)-(0.12)]

      • AKAST.NO (Akastor) -- H1 net income NOK77M vs year-ago (NOK218M)

      • BETCO.SS (Better Collective) -- Q2 EPS €0.14 vs FactSet €0.15 [2 est, €0.12-0.17]

      • ODF.NO (Odfjell) -- Q2 EPS $0.68 vs FactSet $0.42 [4 est, $0.37-0.46]

      • SCATC.NO (Scatec) -- Q2 EPS (NOK0.41) vs year-ago NOK1.71; confirms FY guidance

      • SYNSAM.SS (Synsam) -- Q2 EPS SEK1.35 vs FactSet SEK1.12 [3 est, SEK1.03-1.19]

      • GRKP.SW (Graubeundner Kantonalbank) -- H1 consolidated profit CHF137.2M vs FactSet CHF120M [1 est]

    • M&A

      • MC.FP (LVMH Moet Hennessy Louis Vuitton) -- L Catterton, backed by LVMH, to buy Financial Standard -- Nikkei Asian Review

      • HOLN.SW (Holcim) -- James Hardie (JHX.AU) to sell its sustainable walling and flooring solutions business Fermacell in Europe to Holcim for €840M (~$980M)

      • HSBA.LN (HSBC Holdings) -- Credit Corp. Group acquires HSBC's Australian credit card run-off book, consideration expected to be A$150M

      • IPN.FP (Ipsen) -- completes acquisition of Kartos Therapeutics; deal was announced 29-Jun

      • ICEAIR.IR (Icelandair Group) -- Icelandair completed the acquisition of a 49% stake in Fly Play Europe

      • APGN.SW (APG SGA) -- sells property at Bahnhöheweg 22 in 3080 Bern

      • TFIN.IM (Trevi-Finanziaria Industriale) -- I. CO. P. approves issuance of new shares in connection with offer to acquire Trevi-Finanziaria Industriale

    • Other

      • FRE.GR (Fresenius) -- raises ~ €300M through sale of 7.8M Medical Care shares

      • FCT.IM (Fincantieri) -- announces Viking exercises option for two new small cruise ships; contract value between €0.5-1.0B

      • HNSA.SS (Hansa Biopharma) -- announces confidential submission of draft registration statement to the SEC to allow for a potential listing of ADSs in the US

  • Key rating changes

    • Upgrades:

      • ORK.NO (Orkla) -- to hold from sell at DNB Carnegie

    • Downgrades:

      • ALFEN.NA (Alfen) -- to hold from buy at Jefferies

      • AVTX.NA (Avantium) -- to reduce from hold at Kepler Cheuvreux

      • GLE.FP (Societe Generale) -- to underperform from market perform at Keefe, Bruyette & Woods

      • HAUTO.NO (Höegh Autoliners) -- to hold from buy at Arctic Securities

      • MULTI.NO (Multiconsult) -- to hold from buy at SEB

      • ROCK.B.DC (Rockwool) -- to neutral from overweight at JPMorgan

    • Initiations:

      • JET2.LN (Jet2) -- buy at Kepler Cheuvreux

    • Other:

      • PPH.LN (PPHE Hotel Group) -- reinstated neutral at JPMorgan; prior rating was neutral

  • Data

    • Nikkei (0.66%) to 65783.03

    • Hang Seng +0.77% to 25897.28

    • Shanghai Composite (0.12%) to 3899.12

    • S&P futures +4.8 vs prior close of 7662.5

    • €-$ +0.0019 or +0.16% to 1.1700

    • $-¥ (0.22) or (0.14%) to 158.83

    • €-¥ +0.04 or +0.02% to 185.81

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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