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StreetAccount Summary - Europe Pre-Open: FTSE +0.1%, DAX (0.3%), CAC (0.4%), MIB (0.2%), IBEX (0.2%)

Sep 14 ,2026

  • Synopsis

    • European equity markets are set to open mostly lower, with the UK's FTSE 100 indicated marginally higher. Recall that last week, STOXX Europe 600 saw a weekly loss of (1.66%). European equity markets were lower for the second consecutive week. Firmer energy prices and a backdrop in bond yields remained a headwind for regional markets, though some signs of stabilization on Friday saw markets end the week on steadier footing. Health Care was the weakest sector overall, largely reflecting heavy pressure on Novartis (NOVN.SW) (13.5%) following two late-stage clinical setbacks.

    • Asian equities mixed Monday. Tech-heavy benchmarks in Japan, South Korea and Taiwan under the most pressure though off worst levels. AI trade under pressure after Anthropic CEO Amodei called for slowing development of AI models amid safety concerns.

    • Oil sharply higher following weekend Middle East developments. Lot of focus on Houthi capture of strategic locations along Yemen's southern coast, giving it leverage over Bab el-Mandeb Strait in risk to shipping. Saudi Arabia shut East-West pipeline due to damage from drone strike. Planned meeting between Iran and Gulf foreign ministers on Monday to discuss Strait of Hormuz management postponed amid lack of consensus (recall news of meeting was attributed for Friday's pullback in oil).

    • Markets bracing for an eventful week headlined by key central bank decisions. Fed (Wed) expected to hike by 25 bp following Friday's CPI data that showed pickup in core inflation. BOE (Thurs) with no change expected in the 3.75% benchmark interest rate. BOJ (Fri) also expected to tighten by 25 bp with more interest surrounding prospect of central bank quickening pace of rate hikes amid inflation and yen concerns.

    • Also on this week's agenda: Eurogroup meeting, EU State of the Union address, UK Aug employment and inflation data, Germany Sep economic sentiment - ZEW, Switzerland Aug trade balance as well as earnings/updates from Barratt Redrow (BTRW.LN), Bolloré (BOL.FP), Helvetia Baloise Holding (HBAN.SW) and Next (NXT.LN).

    • European macro data releases out today include Switzerland Aug PPI, Sweden Aug final CPI, Finland Aug CPI

    • In central banks today, ECB publishes at 10:00CET the aggregate results of its latest survey of monetary analysts. ECB's Schnabel speech at 11:15CET at the Federal Ministry for Economic Affairs and Energy (BMWE) Symposium on European Competitiveness, ECB's Cipollone speech at 15:00CET at an event at House of the Euro, ECB's Lagarde speech/panellist from 17:15CET at event 'Hofburg im Dialog - Economy, Europe, Resilience' and ECB's Machado fireside chat at 18:00CET at Barclays Global Financial Services conf. Also, BOE's Wilkins speech at 17:30BST at Queens Univ. Bank of Italy hosts EPSI conf (through Tue). Bank of Finland will host the 12th Workshop of the MPC Taskforce on Banking Analysis for Monetary Policy (through Tue).

    • In Sweden, the general election was reported too close to call early Monday, as the incumbent prime minister and the left-wing opposition leader both said they were ready to govern and the far right was seen losing ground. With 94% of votes reported, the left-wing bloc led by the Social Democrats was ahead with 176 mandates compared to the right-wing bloc's 173. (AFP, BBC)

  • Macro/politics

    • UK

      • PM Burnham to meet business leaders to discuss growth (Reuters )

      • Oil price surge revives prospect of Bank of England rate rise this year (FT)

    • ECB

      • European capitals barter over Christine Lagarde's successor at ECB (FT )

    • Sweden

      • Nordic region's biggest economy faces weeks of uncertainty and tricky government negotiations (FT)

    • France

      • Bank of France Issues Statement on Debt Amid 'False' Information (BBG)

      • Roland Lescure, France's economy minister, seeking to restore budgetary room for manoeuvre (Le Parisien )

  • Top company news

    • Earnings/updates

      • VEND.NO (Vend Marketplaces) -- reports Q3 pre-silent newsletter

      • ISS.DC (ISS A/S) -- to present new mid-term financial targets at Capital Markets Day

      • KESKOB.FH (Kesko) -- reports Aug sales €1.17B, +4.8% in comparable terms

      • Also reporting today

        • Earnings:

          • Ireland: Greencoat Renewables (GRP.ID)

          • Southern Europe: SeSa (SES.IM), NewPrinces (NWL.IM), Gas Plus (GSP.IM)

          • UK: HgCapital Trust (HGT.LN), M.P. Evans Group (MPE.LN), RTW Biotech Opportunities (RTW.LN), GlobalData (DATA.LN), Big Technologies (BIG.LN), Keystone Law Group (KEYS.LN), Pantheon Resources (PANR.LN)

        • CMD/Events: ISS (ISS.DC), IPS.FP (Ipsos) exec. update call

    • M&A

      • AZN.LN (AstraZeneca) -- not pursuing megadeals - London Times

      • TIT.IM (Telecom Italia) -- Poste Italiane announces preliminary result of offer for Telecom Italia (post EU close 11-Sep)

      • SYS1.LN (System1 Group) -- 28% holder Brave Bison to put in new £50M offer for System1 Group this week - Sunday Times

      • TRB.LN (Tribal Group) -- announces proposed acquisition by Main Capital Partners for c. £189.3M

      • CAP.FP (Capgemini) -- signs a definitive agreement to sell Government Solutions

      • ENX.FP (Euronext) -- willing to merge with Deutche Börse - FT

      • REC.IM (Recordati) -- holders unhappy with CVC's take-private bid - FT

      • EQT.SS (EQT AB) -- EU clears EQT's acquisition of Exolaunch

      • SDR.LN (Schroders) -- looking at acquisitions to boost its wealth division - FT

      • CWY.AU (Cleanaway Waste Management) -- notes EQT is continuing due diligence and working towards negotiation and execution of an implementation deed

      • NOL.NO (Northern Ocean) -- Northern Ocean announces final result of mandatory offer

      • Bank of Italy authorizes Banca CF+ and Banca Sistema merger (post EU close 11-Sep)

      • Banca Sistema shareholders to vote on 12-Oct on merger with Banca CF+ (post EU close 11-Sep)

      • Tandem Health raises $100M led by the Scaleup Europe Fund managed by EQT

      • EU clears Allianz's, via Pacific Investment Management Co, acquisition of Ingenico Group

    • Healthcare

      • JNJ (Johnson & Johnson) -- presents results from OS analysis of PAPILLON study of RYBREVANT at WCLC

      • AZN.LN (AstraZeneca) -- provides update on SERENA-4 Phase III trial; Etcamah (camizestrant) in combination with palbociclib, a cyclin-dependent kinase (CDK) 4/6 inhibitor, did not meet the primary endpoint of progression-free survival (PFS)

      • AZN.LN (AstraZeneca) -- 's ADAURA phase III trial demonstrates eight-year landmark survival in early-stage EGFR-mutated lung cancer

      • AZN.LN (AstraZeneca) -- reports positive results from DESTINY-Lung04 Phase III trial presented at the Presidential Symposium at the IASLC 2026 World Conference on Lung Cancer

      • ROP.SW (Roche Holding) -- Medilink presents, publishes data from TAISHAN-302 trial of Tam-Peli

      • ARAY (Accuray) -- and RaySearch agree to collaboration integrating RayStation software with Platforms

      • ALCLS.FP (Cellectis SA) -- to host conference call and webcast on 14-Sep to provide a business update

      • PHARM.NA (Pharming Group) -- FDA approves Pharming Group's Joenja (leniolisib) for the treatment of children aged 4-11 years with activated phosphoinositide 3-kinase delta syndrome

      • PHARM.NA (Pharming Group) -- Follow-up: Pharming confirms FDA approval of Joenja as first treatment for children with APDS in the U.S.

    • Other

      • OR.FP (L'Oreal) -- Arizona Attorney General's Office files consumer fraud lawsuit against L'Oréal USA

      • GLEN.LN (Glencore) -- and Mercuria in talks with the Government of Venezuela to secure rights to the country's largest aluminum smelter - Bloomberg

      • IAG.LN (International Consolidated Airlines Group) -- completes €500M share buyback program

      • LGEN.LN (Legal & General Group) -- completes first £600M tranche of £1.2B share buyback program

      • 1COV.GR (Covestro) -- Covestro, Fertiglobe and MB Energy sign MoU to explore ammonia supply chain in Germany and Europe

      • DOCM.SW (DocMorris) -- announces final conversion price and issue size of its new convertible bonds due 2031

      • Estimated weekend box office revenues in US, Canada $81.7M, (44.6%) y/y - Box Office Mojo

      • UAE's Adnoc commits €40B in long-term capital into Germany's core industries - Gas World

      • WPP positioned to win Coca-Cola's global agency review following Publicis Groupe's exit from the process - AdAge

  • Key rating changes

    • Upgrades

      • ANTO.LN (Antofagasta) -- to buy from hold at Berenberg

      • FLS.DC (FLSmidth & Co.) -- to buy from hold at DNB Carnegie

      • FORTUM.FH (Fortum) -- to hold from sell at Deutsche Bank

      • CPR.IM (Campari) -- to buy from neutral at UBS

  • Data

    • Nikkei (0.91%) to 63425.84

    • Hang Seng +0.37% to 24896.64

    • Shanghai Composite (0.17%) to 3881.32

    • S&P futures (44.0) vs prior close of 7659.5

    • €-$ (0.0030) or (0.26%) to 1.1570

    • $-¥ +0.46 or +0.30% to 154.05

    • €-¥ +0.08 or +0.04% to 178.22

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