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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.39%), DAX (0.49%), CAC40 (0.28%)

Sep 02 ,2026

  • Synopsis

    • European indices are set to open lower as backup in bond yields weighs on equity markets worldwide. Asian markets lower with higher rates the backdrop to steep declines in Japan, South Korea and Taiwan as tech/AI stocks come under pressure more broadly. Selling extending to China,

    • US equities finished lower in Tuesday trading, with stocks ending not far off worst levels amid upward pressure on rates/oil and AI trade weakness.

    • Yield backup continues, though at a more moderate pace than Tuesday as benchmark rates hit multi-decade highs. Focus on energy price gains, upside inflation risk and Fed rate hike expectations. Markets now price in more than 35 bps of Fed tightening in 2026 following select hawkish takeaways from Fed Chair Warsh's Jackson Hole speech

    • Wednesday sees, in central banks, ECB's Buch panellist at 15:30CET at event hosted by Bruegel (through Thu), whilst US Fed's Beige Book released after the European market close

    • Economic data for today: Italy Jul PPI, Spain Aug unemployment rate, Ireland Aug unemployment rate

    • Earnings reported so far: (VAHN.SW) Vaudoise Assurances Holding reports H1 net income CHF82.9M vs year-ago CHF80.5M

  • Politics/Macro/World News

    • ECB must be prepared to lift interest rates further, says top policymaker (FT )

    • US and Iran exchange attacks as lull in war appears over (Reuters )

  • Top company news

    • M&A

      • NESN.SW (Nestle) -- Nestlé reaches agreement to divest mainstream vitamins, minerals and supplements business

      • TFIN.IM (Trevi-Finanziaria Industriale) -- CONSOB approves I.CO.P's offer document in connection with the acquisition of Trevi-Finanziaria Industriale

      • SHEL.LN (Shell Plc) -- Shell to more than double US company-owned convenience retail sites with acquisition of Tri Star Energy

      • GIII (G-III Apparel Group) -- WHP Global and G-III Apparel Group complete acquisition of Marc Jacobs

      • IVG.IM (Iveco Group) -- receives all regulatory prior authorizations for Tata Motors Tender Offer

      • KOG.NO (Kongsberg Gruppen) -- completes Sonatech acquisition

      • SYNT.LN (Synthomer) -- EU clears Mutares' acquisition of Synthomer's acrylate monomers business

      • TNXT.IM (Tinexta) -- discloses consideration for remaining shares determined to be equal to €15.02/share by CONSOB

      • SBT.FP (Oeneo) -- completes Lamouroux acquisition

      • 544569.IN (Tata Motors Commercial Vehicles) -- confirms all authorizations for the acquisition of Iveco Group obtained

      • INFRAC.SW (Infracore) -- submits a binding and fully financed offer to GZO AG for the acquisition of all real estate assets of Wetzikon Hospital

      • EU clears Accenture's acquisition of a majority stake in VTS S.p.A (~7:00ET)

    • Healthcare

      • NWRN.SW (Newron Pharmaceuticals) -- expects to complete target enrollment in Phase 3 ENIGMA-TRS 1 study with evenamide around mid-Oct

      • MEDCL.FP (MedinCell) -- appoints Edna Venneker as Chief Medical Officer

      • ORX.SS (Orexo) -- announces resignation of CFO Fredrik Järrsten

    • Other

      • VOW3.GR (Volkswagen) -- board plans to end production at four German plants -- WiWo, citing dodument (earlier)

      • BPE.IM (BPER Banca) -- announces launch of share buy-back program & early termination of total return swap

      • BOSS.GR (Hugo Boss) -- terminates share buyback program

      • AERO.SW (Montana Aerospace) -- appoints Christian Preslmayr as COO

      • BWLPG.NO (BW LPG) -- prices $300M senior unsecured convertible bonds

      • Index changes: Changes to Euro Stoxx 50 announced, effective 21-Sep

      • Italy Aug new passenger car registrations 69,411 units, +3.2% y/y -- UNRAE

  • Key rating changes

    • Upgrades

      • ADS.GR (Adidas) -- to overweight from equal weight at Barclays, we're told (earlier, timing uncertain)

      • DBK.GR (Deutsche Bank) upgraded to buy from neutral at Goldman Sachs

      • IHG.LN (InterContinental Hotels) Group upgraded to buy from neutral at UBS

    • Downgrades

      • GBG.LN (GB Group) -- to hold from buy at Berenberg

      • SOGN.FP (Societe Generale) downgraded to neutral from buy at Goldman Sachs

    • Initiations

      • ETL.FP (Eutelsat Communications) -- hold at Berenberg

      • GETI.B.SS Getinge initiated neutral at UBS

      • AERO.SW (Montana Aerospace) -- buy at UBS

  • Data

    • Nikkei (2.77%) to 64379.64

    • Hang Seng (0.70%) to 25153.30

    • Shanghai Composite (0.88%) to 3944.88

    • S&P futures (2.5) vs prior close.

    • €-$ (0.0012) or (0.11%) to 1.1582

    • $-¥ (0.20) or (0.13%) to 159.98

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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