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Back to Daily DR Market Summary

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

Sep 17 ,2026

  • Synopsis

    • European equity markets are set to open broadly flat to higher, extending gains from the previous session when the Stoxx Europe 600 closed up 0.5%.

    • Asian equities mixed Thursday. Semis driving Taiwan's outperformance. Hong Kong leading China market declines with tech platforms weaker.

    • Bonds stabilizing following Fed's 25 bp rate hike and hawkish-leaning remarks from Chair Warsh. Yields have swung lower with curves flattening. Among the various initial takeaways, Warsh's emphasis on fighting inflation was seen easing concerns about his credibility that grew in aftermath of June's FOMC meeting.

    • Oil pullback attributed to some easing of concerns about Middle East supply following reports Saudi Arabia increasing crude flows via Hormuz and aiming to restore 50% of East-West pipeline capacity within days. Press also highlighted Houthi assurances of freedom of navigation in Red Sea to non-Saudi ships, and Trump planning post-war talks with Gulf leaders next week. Upward pressure in refined fuels a more immediate concern amid talk about countries imposing export restrictions.

    • European macro data releases out today include Eurozone Aug final CPI, Switzerland Aug trade balance (with monthly watch data), Austria Aug final CPI. Netherlands Aug Unemployment Rate already on the tape, coming in at 4.0% vs consensus 4.1% and prior 4.0%

    • In central banks, BOE interest rate decision at 12noon BST with no change expected in the 3.75% benchmark interest rate. ECB's Lane chairs lecture at 9:00CET at ECB Annual Research conf. Also, Bank if Italy/CEPR/EIEF/World Bank Conf on 'Firm Dynamics, Investment and Aggregate Growth' (through Fri), Norges Bank releases its Q3 regional report at 10:00CET and BOE publishes minutes of last MPC meeting at 12noon BST. In Switzerland, SECO scheduled to release its latest economic forecasts.

    • On the corporate front, key earnings/updates today include Next [NXT.LN], while Helvetia Baloise [HBAN.SW] delivered H1results and said synergies and efficiencies ahead of plan. Bolloré [BOL.FP] results disappointed, and MFE-MediaForEurope [MFEB.IM] also saw a sharp H1 earnings drop. Volvo Car [VOLCAR.B.SS] and Wacker Chemie [WCH.GR] are both holding CMDs today. On M&A, RWE [RWE.GR] increased its stake in Amprion, while Continental [CON.GR] moves closer to selling its Australian mycar business. Roche [ROP.SW] provided a positive catalyst with strong Phase III oncology data for Lunsumio. In broker moves, OVHCloud [OVH.FP] saw a double upgrade to Outperform at BNP Paribas Exane, Dassault Systèmes [DSY.FP] was cut to Underperform at the same broker, and Moncler [MONC.IM], Sodexo [SW.FP] and Man Group [EMG.LN] all received broker upgrades. In other news, KNDS NV may reportedly delay IPO until next year and Grizzly Research LLC issues short report on Raiffeisen [RBI.AV].

  • Politics/Macro/World News

    • Trump suggests EU-Canada associate member deal would be 'hostile act' (FT)

    • BOE Set to Hold Rates With Warning on Inflation (Bloomberg)

    • Left on brink of victory in Swedish election (POLITICO )

  • Top company news

    • Earnings/updates

      • WCH.GR (Wacker Chemie) -- AG expects EBITDA margin to be 15% (+/- 2 percentage points) -- CMD REFOCUS

      • VOLCAR.B.SS (Volvo Car) -- presents new product strategy to 2030 at today's CMD

      • Close

      • HBAN.SW (Helvetia Baloise) -- reports H1 underlying EPS CHF6.20 vs year-ago CHF4.80; says synergies and efficiencies ahead of plan

      • BOL.FP (Bolloré) -- reports H1 net income €133M, (45%) vs year-ago €242M

      • GBF.GR (Bilfinger) -- lowers FY26 revenue outlook to €5.3-5.7B vs prior guidance €5.4-5.9B and FactSet €5.70B [6 est, €5.65-5.80B]; reiterates mid-term targets

      • EXENS.FP (Exosens) -- raises 2026 guidance:: c.20% revenue growth and c.25% adjusted EBITDA growth at midpoint vs. 2025, implying further profitability improvement

      • CENER.GA (Cenergy Holdings) -- Cenergy Holdings reports H1 net income €137.8M, +45% vs year-ago €95.3M

      • KENDR.NA (Kendrion) -- sets new targets for 2027-30; on track to deliver the objectives set at the 2024 CMD ahead of schedule - CMD

      • MFEB.IM (MFE-MEDIAFOREUROPE) -- reports H1 adjusted net income €50.5M vs year-ago €135.0M

      • Also reporting today

        • Earnings:

          • France: Virbac (VIRP.FP), Innate Pharma (IPH.FP), Akwel (AKW.FP), Solutions 30 (S30.FP), Forsee Power (ALFOR.FP)

          • UK: Next (NXT.LN), Galliford Try Holdings (GFRD.LN), The Beauty Tech Group (TBTG.LN)

        • Traffic: VINCI (DG.FP)

        • CMD/Events:Wizz Air Holdings (WIZZ.LN), Générale de Santé (GDS.FP), Borregaard (BRG.NO), Bechtle (BC8.GR), Kontron (KTN.GR), Kendrion (KENDR.NA), DHL (DHL.GR) business update call, AstraZeneca (AZN.LN), SFS Group (SFSN.SW), EssilorLuxottica (EL.FP) JP Morgan Access Day, argenx (ARGX.BB) EGM, Pantheon International (PIN.LN)

    • M&A

      • CON.GR (Continental) -- Tuhu secures exclusive negotiations in competition to acquire Continental's mycar Tyre & Auto - Australian Financial Review, citing people briefed on the auction

      • RWE.GR (RWE) -- further increases stake in Amprion

      • IPH.FP (Innate Pharma) -- and Sobi announce partnership is now effective following completion of closing conditions

      • TXT.IM (TXT e-Solutions) -- agrees to acquire 88% FMA Investment Holding S.r.l. with the remaining 12% subject to a call option

    • Healthcare

      • ROP.SW (Roche Holding) -- Genentech's Lunsumio-Based Regimen Significantly Improves Progression-Free Survival in Follicular Lymphoma in Phase III CELESTIMO Study

      • ZEAL.DC (Zealand Pharma) -- Transcript Intelligence: Zealand Pharma at Morgan Stanley Global Healthcare Conference

      • GUBRA.DC (Gubra A/S) -- Transcript Intelligence: Gubra A/S at Morgan Stanley Global Healthcare Conference

      • NWRN.SW (Newron Pharmaceuticals) -- Transcript Intelligence: Newron Pharmaceuticals at H.C. Wainwright Global Investment Conference

      • EGTX.SS (Egetis Therapeutics) -- Transcript Intelligence: Egetis Therapeutics at Morgan Stanley Global Healthcare Conference

    • Other

      • KNDS NV may delay IPO until next year - Bloomberg (+KNDS.GR)

      • RBI.AV (Raiffeisen Bank International) -- Grizzly Research LLC issues short report on Raiffeisen Bank International

      • AAL.LN (Anglo American) -- Commission sends Statement of Objections over the proposed acquisition of Anglo American's nickel business by MMG

      • DG.FP (VINCI SA) -- VINCI Energies wins a new multi-year ~€120M maintenance contract for an electricity distribution network in Sweden

      • CAST.SS (Castellum AB) -- Castellum concludes previously announced share repurchase programmes for aggregate amount of SEK 3.0B

      • DEC.FP (JCDecaux) -- announces renewed advertising contract with Düsseldorf

      • VEND.NO (Vend Marketplaces) -- notes Prisjakt Sverige intends to bring legal proceedings against Google before the Patent and Market Court in Stockholm, claiming damages of SEK 21.4B

      • TRMD.A.DC (TORM Plc) -- announces closing of secondary public offering of its class A common shares

      • TRMD.A.DC (TORM Plc) -- SEC filing: SCHEDULE 13D/A (Filed by Oaktree Capital Holdings, LLC)

      • Vineyard Wind and GE Vernova announce settlement of all outstanding litigation

  • Key rating changes

    • Upgrades

      • MONC.IM (Moncler) -- to outperform from market-perform at Bernstein

      • SW.FP (Sodexo) -- to overweight from neutral at JPMorgan

      • OVH.FP (OVHCloud) -- to outperform from underperform at BNP Paribas Exane

      • EMG.LN (Man Group) -- to buy from neutral at UBS

    • Downgrades

      • DSY.FP (Dassault Systemes) -- to underperform from neutral at BNP Paribas Exane

      • YPSN.SW Ypsomed Holding downgraded to hold from buy at Stifel

      • RIEN.SW (Rieter Holding) -- to sell from neutral at UBS

    • Initiations

      • ITH.LN (Ithaca Energy) -- buy at DNB Carnegie

      • BUFAB.SS (Bufab) -- buy at Sparebank 1 Markets (timing uncertain)

      • SQZ.LN (Serica Energy) -- buy at DNB Carnegie

  • Data

    • Nikkei +0.06% to 63958.18

    • Hang Seng (1.02%) to 24461.39

    • Shanghai Composite (0.36%) to 3877.54

    • S&P futures +35.3 vs prior close of 7623.0

    • €-$ +0.0005 or +0.04% to 1.1469

    • $-¥ (0.55) or (0.35%) to 155.73

    • €-¥ (0.59) or (0.33%) to 178.59

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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