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StreetAccount Summary - EU Market Recap: FTSE 100 closed 10824.26, DAX (1.17%) to 26258.11, CAC40 (0.79%) to 8334.50, STOXX 600 (0.62%) to 651.10

Aug 31 ,2026

  • Synopsis:

    • European equity markets mostly ended lower, with pan-European indices having traded in negative territory from the open.

    • Focus on the re-escalation of hostilities in the Middle East, as first US military attacks on Iran in a month and Tehran's prompt retaliation, saw oil price move higher and weighed on sentiment.

    • After range-bound trading until early afternoon, shares sank to session lows, with an increasing number of country benchmarks giving up initial gains, whilst pan-European indices were in negative territory from the open.

    • Leading outperformers is Norway +0.9%, one of the few country benchmarks higher on the day, whilst Switzerland (0.8%) joins the DAX and CAC in leading underperformers.

    • UK markets were closed (Summer Bank Holiday).

    • Disruptions in the Strait of Hormuz led to QatarEnergy extending LNG cancellations into Nov, whilst Islamic Revolutionary Guard Corps claims supertanker hit two mines in the Strait. The news follows US and Iran trading strikes over the weekend after first known US attack in weeks.

    • Also exchanging missile and drone strikes over the weekend were Russia and the Ukraine as war continues for a 1,650th day. Turkey's foreign minister says country has prepared a plan for the safe passage of grain via the Black Sea and is ‌in contact with both Russia and Ukraine. Kremlin spokesman says Putin-Trump-Zelensky summit possible only to finalize Ukraine agreements.

    • There's the G20 finance ministers and central bank governors meet in Asheville, North Carolina (through Tue). ECB's Lagarde and Cipollone among the attendees.

    • In his letter to G20 meeting, BOE's Bailey (Chair of Financial Stability Board) warns of risks arising from frontier Artificial Intelligence (AI) models. Elsewhere in central banks, Riksbank's Jansson commented that the risk of elevated inflation going forward has increased slightly, but says bank has the scope to wait before adjusting monetary policy. Denmark central bank's Nødgaard stated that a more challenging threat landscape requires a greater focus on resilience and stronger contingency planning. In the area of payments, having multiple independent payment solutions available in shops enhances resilience, while robust contingency measures arrangements for the financial sector's critical functions are also essential..

    • Economic data releases saw German inflation rise less than expected in Aug, contrary to same date releases in Ireland and Portugal. Other data included Jul unemployment rate for Denmark, Greece and Portugal and final Q2 GDP reads for Belgium and Portugal.

    • IATA global market passenger air traffic +0.2% in Jul, with passenger load factor -0.1 ppts to 85.2%

    • In politics, over the weekend, Iceland voters narrowly reject resuming EU accession talks. In the UK, Andrew Griffith has replaced Sir Mel Stride as shadow chancellor as part of Conservative Party leader Kemi Badenoch's reshuffle. Today sees EU's Šuica participate in the Bled Strategic Forum (through Tue) and there's an informal meeting of EU defence ministers (through Tue). Norway's minister of fisheries and the oceans Næss will participate in part of the maritime fair SMM 2026 in Hamburg (through Fri).

    • The limited number of earnings/updates included Mycronic (MYCR.SS) presents new financial targets and InPost (INPST.NA) Q2 adj. net income PLN132.9M vs FactSet PLN151.9M, lowers FY Adj. EBITDA guidance.

    • Amongst the limited M&A updates, Samsung Peptide publishes offer prospectus for public tender offer for PolyPeptide Group (PPGN.SW), tender period expect to begin on 15-Sep. Reportedly, Airbus (AIR.FP) is looking to sell its US space business and Allianz (ALV.GR) is among parties looking at the AA.

    • Other healthcare related news flow included Bayer (BAYN.GR) presents, publishes first detailed results from REVEAL study of I 124 evuzamitide, Oryzon Genomics (ORY.SM) announces Notice of Allowance for U.S. patent application covering iadademstat combination with gilteritinib and Egetis Therapeutics (EGTX.SS) partner Fujimoto Pharmaceutical has been granted Orphan Drug Designation in Japan for tiratricol for MCT8 deficiency.

    • Elsewhere, UPM-Kymmene (UPM.FH) shareholders approve WISA Group (UPM Plywood business area) demerger.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Autos & Parts +0.45%, Oil & Gas +0.25%, Chemicals +0.08%, Food & Beverage +0.05%, Retail (0.06%), Banks (0.07%), Basic Resources (0.21%), Insurance (0.29%), Utilities (0.41%), Telecom (0.52%), Media (0.54%), Travel & Leisure (0.57%)

      • Underperformers:

        • Technology (1.38%), Ind Goods & Svcs (1.31%), Construct & Mtls (1.24%), Real Estate (1.11%), Health Care (0.76%), Financial Svcs (0.72%), Persnl & HHold Goods (0.66%)

    • Macro/Peripheral markets:

      • EU:

        • Statement in context of G20 Finance Ministers and Central Bank Governors meetings - release

      • Central Banks:

        • BOE's Bailey warns about the global risks posed by the most advanced AI technology - release

        • Riksbank's Jansson presentation on the economic situation and the latest interest rate decision used at the Swedish Bankers' Association's staff conf - release

        • Denmark central bank's Nødgaard speech at the PSD3 & Open Banking conf. - release

      • France:

        • PS leader Olivier Faure officially enters 2027 French presidential race against Glucksmann - LesEchos

        • France faces difficult 2027 budget talks as growth stalls and debt pressures mount - LesEchos

        • Sweden PM Kristersson hosted French President Macron for a signing ceremony to mark Sweden's procurement of four frigates; Delivery of the first frigate is planned for 2030 - Sweden government press release

      • Germany:

        • AfD poised for historic Saxony-Anhalt win, raising risk of German political crisis - Politico

      • Greece

      • Iceland:

        • With all votes counted, Iceland rejected the resumption of EU accession talks by 52.8% to 47.2% - RÚV

      • Ireland:

        • Irish government should be cautious before any changing course on carbon tax increases says Fuels for Ireland - Irish Independent

      • Italy:

        • Meloni set to become Italy's longest-serving postwar prime minister in a single term - Reuters

      • Norway:

        • Funeral for King Harald V will be held on 9-Sep - release

      • Spain:

        • Extends border controls on passengers arriving from Italy by 15 days - Euronews; follows similar move by Italy - Reuters

      • Sweden:

        • Blykalla applies to establish a nuclear power plant in the municipality of Tierp in Uppsala County; sixth application for state support that the government has received - press release

      • UK:

        • PM Andy Burnham faces Trump-related tests on oil, defence, settlements and Ukraine - Politico

        • UK Conservative Party leader Badenoch reshuffles shadow cabinet after Patel and Cleverly resignations (the latter to stand as Conservative candidate in upcoming Mayor of London election) - BBC, London Times, Independent

    • Company news:

      • Notable Gainersx

        • +10.3% ALBPS.FP (Biophytis) -- strengthens its financial position and extends its cash runway into Q1 of 2027

        • +9.9% ORX.SS (Orexo) -- reaches non-binding agreement in principle to settle investigation by US Dept. of Justice; expects to recognise related $4M provision

        • +7.6% OHB.GR (OHB) -- has been awarded a contract worth nearly €1B for the development and production of eighteen satellite platforms for the EU's IRIS² Secure Connectivity Program

        • +6.7% ENGCON.B.SS (engcon) -- Dagens Industri out with buy recommendation

        • +5.7% STO3.GR (Sto) -- H1 revenue €805.5M, +4% vs year-ago €777.1M, reaffirms FY outlook

        • +3.9% ACAD.SS (AcadeMedia) -- Q4 EPS SEK4.27 ex-items vs FactSet SEK4.54 [3 est, SEK3.80-5.62], preliminary student enrolment for the coming academic year ~ +8.0% y/y

        • +2.3% AKER.NO (Aker) -- initiated buy at Kepler Cheuvreux

        • +2.0% ENI.IM (Eni) -- enters into OFF-5 block offshore Uruguay; terms undisclosed

        • +1.7% KOG.NO (Kongsberg Gruppen) -- hold from reduce at Kepler Cheuvreux

          • On earnings/updates: MOL.HB (MOL Hungarian Oil & Gas), INPST.NA (InPost)

      • Notable Decliners

        • -13.4% SEDANA.SS (Sedana Medical) -- announces PDUFA target action date for its New Drug Application in the U.S

        • -8.4% BAKKA.NO (Bakkafrost) -- Q2 EBIT DKK273M vs FactSet DKK388.9M [10 est, DKK313-422M]

        • -5.9% ENSU.NO (Ensurge Micropower) -- H1 net income ($9.5M) vs year-ago ($4.1M), company has sufficient cash to fund operations into mid-H2 of 2026

        • -3.6% MYCR.SS (Mycronic) -- presents new financial targets for the period until 2032-35 - CMD

        • -1.9% VBSN.SW (IVF Hartmann Holding) -- publishes H1 Reports; figures inline with prior release

        • -2.0% ILKKA.FH (Ilkka) -- acquires Custobar for a debt-free purchase price (EV) of €12M

          • On earnings/updates: BWB.GR (Baader Bank), CPI.AV (CPI Europe) and reversing initial gains KBCA.BB (KBC Ancora)

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Aedifica (AED.BB), Van de Velde (VAN.BB)

        • DACHs: Swiss Life Holding (SLHN.SW), Partners Group Holding (PGHN.SW), dormakaba Holding (DOKA.SW), InnoTec TSS (TSS.GR)

        • Southern Europe: eDreams ODIGEO (EDR.SM)

        • UK: Bunzl (BNZL.LN), Ashtead Technology Holdings (AT.LN), Michelmersh Brick Holdings (MBH.LN)

      • Sales: Moscow Exchange MICEX-RTS (MOEX.RU)

      • CMD/Events: Continental (CON.GR) webcast at 14:00CET on new reporting structure from Q3 of 2026 onwards (registration link), Logwin (TGHN.GR), Medartis Holding (MED.SW) - Octavian, BELIMO Holding (BEAN.SW), Geratherm Medical (GME.GR), Hapag Lloyd (HLAG.GR) online event on current news at 11:00CET

  • Data:

    • Economics:

      • Germany Aug preliminary CPI +2.9% y/y vs consensus +3.0%, prior +2.8%

      • Portugal

        • Aug preliminary CPI +3.3% y/y vs consensus +3.2%, prior +3.0%

        • Jul unemployment rate 5.7% vs consensus 5.6%, prior 5.6%

        • Q2 GDP +2.5% y/y vs preliminary +2.5%

      • Ireland Aug preliminary HICP +3.4% y/y vs consensus +3.1%, prior +3.1%

      • Belgium Q2 GDP +0.5% y/y vs preliminary +0.5%

      • Greece

        • Jul unemployment rate 7.9% vs consensus 7.9%, prior revised 8.1% from 8.0%

        • Jun retail sales +1.9% y/y vs consensus +4.7%, prior revised +6.7% from +6.8%

      • Denmark Jul unemployment rate 2.7% vs consensus 2.7%, prior 2.7%

    • Markets:

      • WTI Crude (Oct 26): +$1.99 or +2.39% to $85.39

      • €-$ +0.0040 or +0.34% to 1.1620

      • £-$ +0.0016 or +0.12% to 1.3552

      • €-£ +0.0021 to 0.8577

      • S&P 500 (0.50%)

      • Performance year-to-date:

        • FTSE 100: +8.99%

        • DAX: +7.22%

        • CAC: +2.27%

        • MIB: +17.06%

        • Stoxx 600: +9.95%

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