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StreetAccount Summary - European Market Recap: FTSE 100 (0.07%) to 10878.12, DAX +0.08% to 26285.96, CAC40 +0.27% to 8462.39, STOXX 600 (0.01%) to 656.41

Aug 26 ,2026

  • Synopsis:

    • European equity markets closed mixed after reversing afternoon gains. Banks, Personal&Household Goods and Chemicals were the top gaining sectors whilst Health Care, Media and Technology lagged. Follows mostly firmer performance on Tuesday. Stoxx 600 up 0.6% on the week and on track for fifth positive month in a row.

    • Focus on pullback in oil amid reports about progress on reopening Strait of Hormuz. Iran and Oman finalizing previously announced agreement to establish an alternative and temporary shipping lane. Axios sources said Rubio told counterparts White House has settled on strategy of continuing economic pressure in favor of restarting military action. US officials believe Iran has lost control of Hormuz oil flows. Comes amid reports of significant progress in Iran-Pakistan mediation talks, though US denied it is negotiating.

    • Sentiment on European markets remains upbeat. Few contrarian voices suggest tailwinds well understood, with lack of fresh catalysts. In macro news, ECB sources tipped a September rate hike via Reuters, while Executive Board member Schnabel said economy appears to be gaining momentum. IFO said German export-sector confidence highest since Feb-2022. Citi/YouGov showed a rise in UK inflation expectations in August after recent falls, which reflects elevated oil/gas prices and cost of living pressures. Survey showed one in three UK employers cut entry levels jobs. Switzerland August ZEW economic sentiment improved to 12.1 versus 10.0 prior.

    • In corporate news, out of DACHs, Stadler Rail (SRAIL.SW) out with H1 earnings and confirmed outlook. SoftwareONE (SWON.SW) posted strong H1 report. Gurit (GURN.SW) out with H1 earnings and raised sales and profit guidance. Overnight, Siemens Energy (ENR.GR) announced the initiation of work to separate Transformation of Industry segment into standalone company. In the Nordics, Ambu (AMBU.B.DC) posted Q3 numbers and updated FY25/26 outlook to reflect slower volume uptake in Anesthesia & Patient Monitoring. BioArctic (BIOA.B.SS) out with Q2 numbers. Gubra (GUBRA.DC) achieved milestone from AbbVie (ABBV) following initiation of a Phase 2 clinical trial of ABBV-295. In the UK, Hochschild Mining (HOC.LN) higher post H1.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Banks +0.76%, Persnl & HHold Goods +0.73%, Chemicals +0.57%, Construct & Mtls +0.56%, Travel & Leisure +0.44%, Ind Goods & Svcs +0.43%, Food & Beverage +0.32%, Basic Resources +0.29%, Insurance +0.24%, Retail +0.09%, Financial Svcs +0.08%

      • Underperformers:

        • Health Care (1.00%), Media (0.86%), Technology (0.84%), Telecom (0.81%), Oil & Gas (0.80%), Autos & Parts (0.61%), Real Estate (0.51%), Utilities (0.14%),

    • Macro:

      • ECB

        • Policymakers ready to raise rates to 2.50% in Sep to curb Iran war-driven inflation, but reluctant to signal further tightening - Reuters

        • Isabel Schnabel calls for further rate hikes as Middle East conflict and strong euro-zone economy fuel inflation risks - Bloomberg

      • France:

        • Faces perilous budget showdown amid high debt, gridlocked parliament, and rising bond yields ahead of 2027 election - Bloomberg

        • Mélenchon proposes ECB waive interest on French debt; rivals denounce plan as dangerous ahead of 2027 presidential race - Politico

      • Germany:

        • AfD leads polls in Saxony-Anhalt regional election, raising prospect of far-right minister-president amid economic concerns - EurActiv

        • Export expectations in Germany rise sharply in Aug according to latest Ifo survey - release

      • Greece:

        • Finance Minister defends strategy to accelerate early repayment of Greece's public debt - ekathimerini

      • Sweden

        • Sweden's ruling coalition trails in poll, but closes gap on centre-left opposition - Reuters

      • UK:

        • Andy Burnham pledges to 'take pressure off' business ahead of October Budget - FT

        • Labour MPs will push Burnham to back voting reform in first 100 days - Guardian

        • UK energy secretary says looking at 'what more we can do' as typical annual bill rises to £1,723 from October - Guardian

        • UK PM Andy Burnham urges firms to offer work experience placements to tackle youth unemployment crisis; Sainsbury's pledges 10,000 spots - Bloomberg

        • Burnham looks at giving mayors in England power to block sale of council homes - FT

        • One in three UK employers cut the number of entry-level jobs - Lancaster University's Work Foundation

    • Company news:

      • Notable Gainers

        • +22.4% SRAIL.SW (Stadler Rail CHF30.02, +5.50) -- H1 earnings

        • +22.3% ATORX.SS (Alligator Bioscience SEK0.03, +0.01) -- Q2 earnings

        • +20.8% GURN.SW (Gurit Holding CHF35.40, +6.10) -- H1 earnings; raises FY guidance

        • +11.6% ADXN.SW (Addex Therapeutics CHF0.03, -0.00) -- sells 437,869 ADSs through it's At the Market offering agreement with H.C. Wainwright & Co

        • +11.1% NXQ.LN (Nexteq £0.50, +0.05) -- order

        • +9.7% CRNA.NO (Circio Holding NOK13.08, +1.16) -- Company and Full Circles Therapeutics jointly announce in vivo cell therapy research

        • +9.5% SWON.SW (SoftwareONE Holding CHF9.47, +0.83) -- H1 earnings

        • +8.5% CAML.LN (Central Asia Metals £1.82, +0.14) -- H1 earnings

        • +6.7% AGFB.BB (Agfa-Gevaert €0.46, +0.03) -- Q2 earnings

        • +6.3% SALM.NO (Salmar NOK578.00, +34.00) -- re-instated buy at Arctic Securities; Nordea upgrade

        • +5.4% HOC.LN (Hochschild Mining £6.59, +0.34) -- H1 earnings

        • +4.3% DBK.GR (Deutsche Bank €34.63, +1.43)

        • +4.1% KENDR.NA (Kendrion €19.70, +0.78) -- Q2 earnings

        • +4.1% TESB.BB (Tessenderlo Group €21.65, +0.85) -- Kepler Cheuvreux upgrade

        • +3.9% CLAS.B.SS (Clas Ohlson SEK452.00, +16.80)

        • +3.8% VVV3.GR (Ökoworld €27.20, +1.00) -- H1 earnings

        • +3.2% MT.NA (ArcelorMittal €64.56, +2.00)

        • +3.2% WAC.GR (Wacker Neuson €22.60, +0.70)

        • +3.0% KCR.FH (Konecranes €30.32, +0.88) -- SEB upgrade

        • +2.9% CSN.LN (Chesnara £3.50, +0.10)

        • +2.4% BSL.GR (Basler €23.45, +0.55)

        • +1.9% ACKB.BB (Ackermans & Van Haaren €262.40, +4.80) -- notes portfolio company DEME releases H1 earnings

        • +1.8% GOMX.SS (GomSpace Group SEK11.35, +0.20) -- Q2 earnings

      • Notable Decliners

        • -15.8% AMBU.B.DC (Ambu DKK66.05, -12.35) -- updates financial outlook for 2025/26; Q3 earnings

        • -13.9% 2020.NO (2020 Bulkers NOK4.35, -0.70) -- Q2 earnings

        • -6.7% BIOA.B.SS (BioArctic SEK322.00, -23.00) -- Q2 earnings

        • -6.2% PAAL.B.DC (Per Aarsleff Holding DKK728.00, -48.00) -- Q3 earnings

        • -5.2% IBT.B.SS (Infant Bacterial Therapeutics SEK65.00, -3.60) -- Q2 earnings

        • -4.7% ACTI.SS (Active Biotech SEK5.24, -0.26)

        • -4.3% PREC.SS (Precise Biometrics SEK0.68, -0.03) -- Q2 earnings

        • -4.2% CAM.LN (Camellia £56.50, -2.50) -- H1 earnings

        • -3.8% SGE.LN (Sage Group £10.63, -0.41)

        • -3.6% HLAG.GR (Hapag-Lloyd €133.00, -4.90)

        • -3.3% WAWI.NO (Wallenius Wilhelmsen NOK157.50, -5.32)

        • -3.0% HM.B.SS (H&M Hennes & Mauritz SEK179.00, -5.50) -- Handelsbanken downgrade

        • -2.9% SAP.GR (SAP €180.02, -5.44) -- UBS downgrade

        • -2.7% TECN.SW (Tecan Group CHF188.10, -5.20) -- Oddo downgrade

        • -2.6% MGN.NO (Magnora NOK22.65, -0.60) -- Q2 earnings

        • -1.9% ALZCUR.SS (AlzeCure Pharma SEK6.28, -0.12) -- Q2 earnings

        • -1.8% SCT.LN (Softcat £20.44, -0.38) -- Deutsche Numis downgrade

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: EVN (EVN.AV), PORR (POS.AV)

        • Belgium: Ageas (AGS.BB), CMB.TECH (CMBT.BB), Tessenderlo Group (TESB.BB), Ion Beam Applications (IBAB.BB), Cie d'Entreprises CFE (CFEB.BB)

        • Denmark: Danske Andelskassers Bank (DAB.DC), MT Hojgaard Holding (MTHH.DC), NNIT (NNIT.DC), Møns Bank (MNBA.DC), RTX (RTX.DC), Luxor (LUXOR.B.DC), Ostasiatiske Kompagni (OKEAC.DC)

        • Finland: Keskisuomalainen (KSL.FH)

        • France: Pernod Ricard (RI.FP), TotalEnergies EP Gabon (EC.FP)

        • Germany: Delivery Hero (DHER.GR), Fielmann Group (FIE.GR), ASTA Energy Solutions (1AST.GR), Hygieia Biomedical (50I.GR), IVU Traffic Technologies (IVU.GR), Ringmetall (HP3A.GR), BRAIN Biotech (BNN.GR), Bertelsmann (002JGK-E)

        • Netherlands: HAL Trust (HAL.NA), Eurocommercial Properties (ECMPA.NA), Azerion Group (AZRN.NA)

        • Norway: Måsøval (MAS.NO), Andfjord Salmon Group (ANDF.NO), Grieg Seafood (GSF.NO), Agilyx (AGLX.NO), Integrated Wind Solutions (IWS.NO), Norcod (NCOD.NO), Omda (OMDA.NO), Oncoinvent (ONCIN.NO), Electromagnetic Geoservices (VOIM.NO)

        • Southern Europe: Allwyn (ALWN.GA), Mota-Engil SGPS (EGL.PL), Aquafil (ECNL.IM)

        • Sweden: L E Lundbergföretagen (LUND.B.SS), Elekta (EKTA.B.SS), Systemair (SYSR.SS), Sivers Semiconductors (SIVE.SS), Nordrest Holding (NREST.SS), BioInvent International (BINV.SS), Eolus Aktiebolag (EOLU.B.SS), Oncopeptides (ONCO.SS), Arctic Falls (ARFA.SS), Saniona (SANION.SS), Elon (ELON.SS)

        • Switzerland: Accelleron Industries (ACLN.SW), Feintool International Holding (FTON.SW), Bajaj Mobility (BMAG.SW)

        • UK: PPHE Hotel Group (PPH.LN), Partners Group Private Equity (PEY.LN), Macfarlane Group (MACF.LN), Jadestone Energy (JSE.LN)

      • Traffic: VINCI (DG.FP)

      • CMD/Events: Blue Cap (B7E.GR),Frequentis (FQT.GR)

  • Data:

    • Economics:

      • Sweden Jul PPI +6.4% y/y vs consensus +6.9% and prior +7.4%

      • Switzerland Aug ZEW Expectations 12.1 vs consensus 8.0 and prior 10.0

    • Markets:

      • WTI Crude (Oct 26): +$0.00 or +0.00% to $82.36

      • €-$ (0.0022) or (0.19%) to 1.1653

      • £-$ (0.0052) or (0.38%) to 1.3595

      • €-£ +0.0019 to 0.8574

      • S&P 500 (0.07%)

      • Performance year-to-date

        • FTSE 100: +9.53%

        • DAX: +7.33%

        • CAC: +3.84%

        • MIB: +17.66%

        • Stoxx 600: +10.84%

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