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StreetAccount Summary - EU Market Recap: FTSE 100 (0.79%) to 10792.54, DAX +0.31% to 26367.24, CAC40 (1.68%) to 8319.87, STOXX 600 (0.69%) to 651.85

Aug 27 ,2026

  • Synopsis:

    • European equity markets generally closed lower, with shares ending slight above the worst levels of the day.

    • Pan-European indices very quickly gave up slight initial gains, and after an extended period of range-bound trading in negative territory, sank to session lows after Wall Street's open. Austria, Ireland, Italy all (1.2%) join the CAC in leading underperformers, whilst Finland +0.1% joins the DAX as the only country benchmarks in the green and lead outperformers and along with Norway (0.4%) lead outperformers

    • In the Middle East, Qatar and Iran discuss temporary Strait of Hormuz corridor plan and President Trump sends new warship to the region after claiming 'very big victory' over Tehran.

    • Russia's Putin moves to escalate the war in Ukraine as talks at dead end, whilst Russia's foreign ministry spokesperson told the UK to back off on what she called London's hostile stance on the war, which she said risked taking the conflict to an entirely new level.

    • In central banks, ECB published the minutes of last MPC meeting, whilst Bank of Finland's Välimäki delivered lecture on the digital euro and advisor to the bank Obstbaum was a panellist at the Europe Forum and The Federal Reserve Bank of Kansas City organised Jackson Hole Economic Policy Symposium gets underway (through Sat)

    • Amongst the handful of economics updates were German consumer sentiment improved heading into Sep, but households still prefer to save, France Jul PPI and Norway Q2 GDP topped expectation whilst in the UK, SMMT published Jul car production data.

    • In politics, Chancellor Merz hosted a meeting with several like-minded EU heads of state and government to exchange views on the next Multiannual Financial Framework (MFF). A press briefing will follow the meeting. In the evening, the Chancellor will host Norway's PM Støre for talks.

    • Elsewhere, La REF conference saw EDF Group CEO Fontana, BNP Paribas (BNP.FP) deputy CEO Laborde, Axa (CS.FP) CEO Buberl, OVH Cloud (OVH.FP) CEO Klaba, minister of labour Farandou and President of France's National Assembly Braun-Pivet were on various panels through the day, whilst minister of the economy, finance Lescure was in conversation and EU's von der Leyen delivered a speech

    • In Norway, the government began a 2-day budget conf (through Fri) and Czech Republic PM Babiš hosted European Council President Costa.

    • Leading companies with earnings/updates included Accelleron Industries (ACLN.SW), Allwyn (ALWN.GA), Elekta (EKTA.B.SS), Pernod Ricard (RI.FP), Prudential (PRU.LN) and Tessenderlo Group (TESB.BB), whilst amongst some of the smaller percentage movers where Ageas (AGS.BB) reports H1 net operating result €776.0M vs consensus €697.0M, guides FY net operating result > €1.95B, incl. the contribution of the sale of our stake in Malaysia and Delivery Hero (DHER.GR) reports H1 adj. EBITDA €426.7M vs FactSet €412.0M [2 est, €405-419M] and raises FY guidance. Uber (UBER) publishes offer document for Delivery Hero with acceptance period to run from today through 5-Nov

    • Other M&A news flow included Boliden (BOL.SS) to acquire all of Votorantim's shares in Nexa Resources (NEXA) and SpareBank 1 Nord-Norge (NONG.NO) raises its stake in SpareBank 1 Helgeland (HELG.NO).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Technology +1.77%, Autos & Parts +0.93%, Financial Svcs +0.55%, Media (0.05%), Basic Resources (0.09%), Ind Goods & Svcs (0.31%), Real Estate (0.65%), Persnl & HHold Goods (0.67%)

      • Underperformers:

        • Banks (1.71%), Construct & Mtls (1.53%), Food & Beverage (1.32%), Utilities (1.32%), Travel & Leisure (1.07%), Chemicals (1.06%), Oil & Gas (1.05%), Telecom (1.03%), Retail (0.99%), Health Care (0.95%), Insurance (0.92%)

    • Macro/Peripheral markets:

      • ECB:

        • Incoming data provided a strong case for a pause in rate hikes at last meeting; Officials emphasize need to communicate upside inflation risks - Minutes

      • EU:

        • Commission President von der Leyen reiterates EU competitiveness focus as economic woes mount - FT

      • Geopolitics

        • Pentagon's NATO review preparing troop options for Hegseth by 6-Nov - Reuters

        France:

        • Faces high-stakes budget battle as election looms and investors grow anxious over finances - Reuters

        • Presidential candidates pitch divergent economic visions to business leaders at Medef event - Bloomberg, Politico

        • Replaces Italy as European bond investors' biggest worry - FT

      • Germany:

        • AfD widens lead in Saxony-Anhalt poll ahead of vote that could yield Germany's first far-right-led state government - Bloomberg

        • Miersch relies on changes to pensions before coalition parliamentary group retreat - Handelsblatt

      • UK:

        • Heat waves drive business adaptation investment and change consumer shopping and commuting habits, Barclays survey finds - Bloomberg

        • Legalizes plug-in home solar kits to help households cut energy bills - press release

        • PM Burnham has sought to allay fears of a budget tax raid, calling on wealth creators to back Britain - Telegraph

      • Ukraine:

        • Talks with Russia maybe possible in Sep - Reuters citing Zelenskyy's top aide

    • Company news:

      • Notable Gainers

        • +26.3% ELON.SS (Elon) -- Q2 EPS SEK0.60 vs year-ago (SEK1.81)

        • +20.0% ONCO.SS (Oncopeptides) -- Q2 EPS (SEK0.14) vs year-ago (SEK0.30)

        • +13.5% HELG.NO (SpareBank 1 Helgeland) -- SpareBank 1 Nord-Norge raises its stake in SpareBank 1 Helgeland to 26.7%

          • +0.4% NONG.NO (SpareBank 1 Nord-Norge)

        • +10.6% HFD.LN (Halfords Group) -- now expects FY27 underlying PBT to be between £55-65M, ahead of current consensus of £52.6M

        • +9.5% TESB.BB (Tessenderlo Group) -- H1 net income €65.9M vs year-ago (€9.0M)

        • +7.3% CCC.LN (Computacenter) -- buy from add at Peel Hunt

        • +6.3% RTX.DC (RTX) -- Q3 net income DKK4.4M vs year-ago DKK5.2M; raises FY guidance

        • +4.9% GBF.GR (Bilfinger) -- buy from neutral at UBS

        • +4.4% BYS.SW (Bystronic) -- agrees to acquire Isochronic AG for an undisclosed sum

        • +4.3% VTU.LN (Vertu Motors) -- anticipates FY27 results ahead of current market expectations

        • +4.0% GXI.GR (Gerresheimer) -- prelim. Q1 adjusted EBITDA €66M vs FactSet €79M [1 est], provides FY update

        • +3.9% VWS.DC (Vestas Wind Systems) -- buy from hold at Berenberg

        • +3.5% EGL.PL (Mota-Engil) -- H1 net income €74.0M vs FactSet €74M [1 est]

        • +3.2% DECB.BB (Deceuninck) -- Gramo BV acquires additional shares following

        • +3.4% CMBT.BB (CMB.TECH) -- Q2 EPS $1.26 vs FactSet $0.89 [8 est, $0.71-1.31]

        • closing of mandatory public takeover bid

        • +2.7% LUND.B.SS (L E Lundbergföretagen) -- Q2 NAVPS after deferred tax SEK631/share

        • +2.4% BIJ.GR (Bijou Brigitte modische Accessoires) reports prelim. H1 net income €8.8M vs year-ago €4.2M, confirms prior revenue release

        • +2.4% IVU.GR (IVU Traffic Technologies) -- confirms prelim. H1 earnings, reports H1 net income €2.4M vs year-ago €0.7M and raises FY EBIT outlook

        • +2.3% FIE.GR (Fielmann Group) -- final H1 earnings in line with prelim. release: EPS €1.33 vs year-ago restated €1.28; reaffirms FY guidance

        • +2.2% IR5B.ID (Irish Continental Group) -- independent board considering options including adjournment of upcoming meetings in connection with offer

        • +2.1% SYSR.SS (Systemair) -- Q1 EPS SEK1.10 vs FactSet SEK1.06 [6 est, SEK0.97-1.12]

        • +1.9% IBAB.BB (Ion Beam Applications) -- H1 net income €9.3M vs FactSet €9M [1 est], reaffirms FY adj EBIT at least €32M vs FactSet €35.5M [2 est, €35.1-35.9M]

        • +1.6% HVO.LN (hVIVO) -- acquires CRS Clinical Research Services Berlin GmbH; minimal upfront consideration and earnout

        • +1.5% EVN.AV (EVN) -- 9M EPS €2.94 vs year-ago €2.44, guides FY net income €470-490M vs FactSet €465.9M

          • On earnings/updates: DHER.GR (Delivery Hero), FYNBK.DC (Fynske Bank), MACF.LN (Macfarlane Group) and reversing initial falls CAI.AV (CA Immobilien Anlagen),

      • Notable Decliners

        • -7.0% FGR.FP (Eiffage) -- H1 net income attributable €342M vs consensus €322.8M; confirms FY guidance

        • -6.4% POS.AV (PORR) -- H1 EPS €0.71 vs year-ago €0.53; specifies FY guidance, reaffirms 2030 EBIT margin target

        • -6.1% PPH.LN (PPHE Hotel Group) -- H1 EPS 3.3p vs year-ago (0.1p), provides current trading, outlook

        • -5.0% RI.FP (Pernod Ricard) -- FY net income from recurring ops €1.48B vs consensus €1.44B, expects FY27 organic net sales broadly stable for the full year, now projects FY27-29 organic net sales growth close to the lower end of the +3-6% range

        • -4.0% YAR.NO (Yara International) -- sell from hold at DNB Carnegie

        • -3.8% BINV.SS (BioInvent International) -- Q2 EPS (SEK1.87) vs FactSet (SEK1.90) [1 est]

        • -3.8% IDL.FP (ID Logistics Group) -- H1 net income €26.2M vs year-ago €22.4M

        • -3.3% GIVN.SW (Givaudan) -- underweight from equal-weight at Morgan Stanley

        • -3.2% NOVO.B.DC (Novo Nordisk) -- sell from hold at Deutsche Bank

        • -3.1% BOL.SS (Boliden) -- to acquire all of Votorantim's shares in Nexa Resources (NEXA) for $1.31B in Boliden shares; will launch voluntary tender offer for remaining Nexa shares

        • -2.6% PRU.LN (Prudential) -- H1 IFRS profit $995M, (27%) vs year-ago $1.36B, provides FY guidance; sells 2.0% stake in ICICI Prudential Asset Management raising $0.3B

        • -2.6% ACLN.SW (Accelleron Industries) -- H1 EPS $1.53 vs FactSet $1.36 [1 est]; raises FY organic revenue growth guidance; shares reversed initial gains

        • -2.4% EKTA.B.SS (Elekta) -- Q1 adj EPS SEK0.69 vs consensus SEK0.48, reiterates outlook for FY26/27

        • -2.2% GSF.NO (Grieg Seafood) -- H1 cont ops EPS ex hybrid interest (NOK1.30) vs year-ago (NOK3.00)

        • -2.2% ENOG.LN (Energean) -- in discussions to acquire BP oil & gas assets in Egypt - Reuters

          • -1.6% BP.LN (bp)

        • -2.1% ALWN.GA (Allwyn) -- Q2 net income attributable €188M ex-items vs FactSet €191.2M [1 est]; reaffirms FY guidance

        • -1.9% NESN.SW (Nestle) -- market-perform from outperform at Zürcher Kantonalbank

          • On earnings/updates: AGS.BB (Ageas), VLK.NA (Van Lanschot Kempen), AOJ.B.DC (Brødrene A & O Johansen), DAB.DC (Danske Andelskassers Bank)

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: STRABAG (STR.AV), CPI Europe (CPI.AV)

        • Benelux: KBC Ancora (KBCA.BB), Recticel (RECT.BB)

        • Denmark: PARKEN Sport & Entertainment (PARKEN.DC), HusCompagniet (HUSCO.DC)

        • Finland: Aiforia Technologies (AIFORIA.FH)

        • Germany: Allane (LNSX.GR), FamiCord (V3V.GR)

        • Norway: Hafnia (HAFNI.NO), BW LPG (BWLPG.NO), AF Gruppen (AFG.NO), Paratus Energy Services (PLSV.NO), Ventura Offshore Holding (VTURA.NO), Thor Medical (TRMED.NO), Prosafe (PRS.NO)

        • Other: Aeroflot (AFLT.RU)

        • Sweden: Intrum (INTRUM.SS), KDventures AB (KDV.B.SS)

        • Switzerland: Flughafen Zuerich (FHZN.SW), Jungfraubahn Holding (JFN.SW), Edisun Power Europe (ESUN.SW)

  • Data:

    • Economics:

      • Germany Sep GfK consumer confidence (26.6) vs consensus (29.6), prior revised (29.4) from (29.6)

      • France Jul PPI +3.4% y/y vs consensus +2.7%, prior revised +2.8% from +2.6%

      • Eurozone Jul M3 money supply +3.4% y/y vs consensus +3.4%, prior +3.3%

      • Norway Q2 GDP +0.7% q/q vs consensus +0.5%, prior +0.4%

      • Sweden Jul trade balance SEK1.2B vs consensus SEK3.0B, prior revised SEK2.5B from SEK2.6B

    • Markets:

      • WTI Crude (Oct 26): +$0.19 or +0.23% to $82.42

      • €-$ (0.0003) or (0.03%) to 1.1652

      • £-$ (0.0010) or (0.07%) to 1.3588

      • €-£ +0.0004 to 0.8575

      • S&P 500 +0.56%

      • Performance year-to-date:

        • FTSE 100: +8.67%

        • DAX: +7.66%

        • CAC: +2.09%

        • MIB: +16.29%

        • Stoxx 600: +10.07%

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