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StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.04%, DAX +0.26%, CAC40 (0.04%)

Sep 04 ,2026

  • Synopsis

    • European indices are set to open mixed with Asian equities strengthening. Hong Kong outperforming with cloud and model developers underpinning gains. Semis and memory producers driving upside in South Korea and Taiwan. Japan also higher.

    • S&P 500 futures unchanged.

    • Yen extended gains Thursday well beyond the Tokyo session, returning to a one-month high vs dollar in the 155 level. Attention among foreign press that initially highlighted suspected FX intervention and/or rate check died down, eventually conforming to the domestic narrative focused on recent policy rhetoric and BOJ rate hike expectations

    • In central banks, BOE Bailey speech and Q+A at 9:50BST at LSE TRIUM Annv. other speakers include L'Oréal's (OR.FP) chairman Agon at 11:50, Ferrari's (RACE) CEO Vigna at 12:10 and former UK government minister Ashton at 14:10, whilst ECB's Lane speech at 10:10BST at Irish Society for Women in Economics (ISWE)

    • US equities finished higher in Thursday trading, ending not far from best levels. Breadth was solidly positive; highest proportion of S&P 500 gainers to decliners since early August.

    • Economic: Germany Jul factory orders, Aug construction PMI, Italy Jul retail sales, Eurozone Jul retail sales, UK Aug construction PMI, Austria Q2 final GDP, Ireland Q2 final GDP

    • Earnings reported: (BELYS.BB) Belysse Group reports H1 adjusted EBITDA €16.8M vs year-ago €17.3M. (VIL.FP) Viel & Cie reports H1 net income attributable €77.3M, +12% vs year-ago €69.2M.

  • Politics/Macro/World News

    • Netherlands moves billions in gold to London in 'crisis preparedness' move (BBC )

    • Norway Wealth Fund proposes trimming Government bond holdings (BBG )

    • UK failing to capitalise on Brexit, top Trump trade official says (FT )

    • UK car sales log strongest August since 2018, preliminary data shows (Reuters)

    • BOE's pill fears Central Banks being pushed to finance deficits (BBG )

  • Top company news

    • Earnings/updates

      • VOW.GR (Volkswagen) -- Follow-up: Volkswagen unveils further details around Future Plan 2030

      • VIV.FP (Vivendi) -- reports H1 net income €28M vs year-ago €30M

      • SL.IM (Sanlorenzo) -- reports H1 net income €49.1M, +5% vs year-ago €46.6M; confirms its 2026 guidance in full

    • M&A

      • CABK.SM (CaixaBank) -- Banco BPI agrees to sell its 33.35% stake in Banco de Fomento de Angola to Congolian Financial for an initial €345M (post EU close 3-Sep)

      • VOW.GR (Volkswagen) -- Follow-up: Volkswagen unveils further details around Future Plan 2030

      • SPI.LN (Spire Healthcare Group) -- announces PUSU deadline in connection with Toscafund Asset Management offer extended to 4-Sep

      • EXX.SJ (Exxaro Resources) -- Stanmore Resources to acquire Moranbah South tenements from Exxaro for $105M (~A$145.8M)

    • Healthcare

      • IONS (Ionis Pharmaceuticals) -- FDA approves Zanvastro (zilganersen) injection for Alexander disease

      • IONS (Ionis Pharmaceuticals) -- issues press release on FDA approval of Zanvastro (zilganersen) injection for Alexander disease

      • FRE.GR (Fresenius) -- launches generic Sugammadex in Simplist ready-to-administer prefilled syringe in US

      • GNFT.FP (GENFIT) -- to host virtual KOL event focused on MASH diagnostics on 9-Sep-26

      • POXEL.FP (Poxel) -- appoints Laure-Hélène Mercier as Chair of the board effective 3-Sep-26

    • Other

      • VOW3.GR (Volkswagen) -- risks downgrade to 'junk' without sweeping cuts, warns top investor - FT

      • VOW3.GR (Volkswagen) -- Volkswagen's Supervisory board approves comprehensive future plan for the Group

      • ALO.FP (Alstom) -- confirms winning landmark C$4.7B contract to renew VIA Rail Canada's long-distance fleet

      • FGR.FP (Eiffage) -- announces contract to build two steel structures part of new Merwede Bridge in the Netherlands

  • Key rating changes

    • Upgrades

      • ATS.AV (AT & S Austria Technologie & Systemtechnik) -- to outperform from neutral at Oddo

      • BWLPG.NO (BW LPG) -- to buy from neutral at Sparebank 1 Markets

      • CON.GR (Continental) -- to outperform from neutral at Oddo

      • GTT.FP (Gaztransport & Technigaz) -- to buy from hold at Berenberg

      • PRY.IM (Prysmian) -- to outperform from neutral at Oddo

    • Downgrades

      • Daimler Truck Holding (DTG.GR) to equal-weight from overweight at Morgan Stanley

      • Kuehne & Nagel (KNIN.SW) downgraded to underweight from equal-weight at Morgan Stanley

  • Data

    • Nikkei +1.22% to 65000.18

    • Hang Seng +2.11% to 25744.26

    • Shanghai Composite +0.53% to 3963.01

    • S&P futures +8.0 vs prior close.

    • €-$ +0.0002 or +0.02% to 1.1628

    • $-¥ +0.53 or +0.34% to 156.33

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