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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE +0.3%, DAX +0.5%, CAC +0.6%, IBEX +0.3%, MIB +0.4%

Sep 21 ,2026

  • Synopsis

    • European equity markets are set to open broadly higher, following last week's losses. Oil under pressure amid Middle East supply headlines highlighting pickup in Saudi crude loadings at Persian Gulf.

    • Asian equities mostly higher Monday. South Korea outperforming with Taiwan. Greater China benchmarks seeing moderate gains. Japan closed for public holiday. S&P 500 futures advancing. Ahead of Trump-Xi summit, Treasury Secretary Bessent hailed successful talks with China Vice Premier He Lifeng on issues as AI and trade. Parties agreed to set up dialogue on AI with USTR Greer saying export controls not on agenda. Noted progress in operationalizing 'Board of Trade' and identified examples of non-sensitive items such as low-tech Chinese goods and US energy. Few details on increasing flow of critical minerals, extending trade truce or increasing agricultural and aircraft purchase commitments.

    • AI trade mixed with semis/memory among the leaders, tracking gains in US peers on Friday that saw SOX rise another 3%. China AI model developers back under pressure with reports highlighting underwhelming monetization metrics compared to US peers and Z.AI (2513.HK) facing scrutiny over unauthorized uploads

    • In Germany, focus on results of state elections; Far-right AfD wins in Mecklenburg-Western Pomerania and leftwing Die Linke on course for victory in Berlin. German chancellor Friedrich Merz has reportedly vowed to stay in office and press ahead with reforms despite heavy losses for his conservatives in the two state elections. (DW , Guardian )

    • According to latest UK Sep house price index from Rightmove , average newly-listed asking prices rise by 0.7% this month to £367,440, the first monthly price increase since May. September's above-average price increase for the time of year is a possible early sign of the usual Autumn bounce in activity, though there is considerable ground to make up after a somewhat subdued and distracted summer Sellers still face a very crowded market, with the number of homes available to purchase at a 12-year high. Buying activity has also seen an expected bounce from August into September, as the holiday season ends. However, the number of buyers enquiring across the market is still 9% lower than this time last year. The number of newly-listed properties for sale is 3% down on this time last year, while sales agreed are 9% lower annually.

    • In central banks, National banks of Ukraine and Poland host Annual Research Conf "Central Banks' Response to Future Challenges: Resilience, Credibility, and Innovation" (through Tue) sees opening remarks by Ukraine central bank's Pyshnyy at 8:00CET, Bank of Italy's Panetta speech at 8:20. First of the ECB Economic Bulletin pre-releases at 10:00CET. Denmark central bank's Kettel speech at 10:30CET at the Mortgage Credit Summit 2026. Deutsch Bank publishes its latest monthly report at 12noon CET. ECB's Lagarde delivers opening remarks at 17:00CET at ECB roundtable on Pontes DLT wholesale settlement solution launch, whilst Cipollone chairs a panel discussion at 17:10CET at the event. Denmark central bank, Bundesbank and Norges Bank host conf . in Copenhagen title Heterogeneity, Expectations and Economic Adjustment. Conclusion of informal two-day meeting of EU transport ministers. In Germany, IG Metall holds its nationwide automotive action day.

  • Politics/Macro/World News

    • Germany

      • Far-left party wins Berlin election, pledging to nationalise housing (Reuters)

      • German chancellor Merz vows to stay on despite 'disaster' in regional elections (FT )

    • Europe/Canada

      • EU wants 'closest possible' relationship with Canada, Costa tells POLITICO

      • UK should 'team up' with Canada in new Europe alliance, Canadian minister tells BBC

    • UK

      • Burnham weighs £14bn capital gains tax raid (Telegraph )

    • US/China

      • US and China Hail Constructive Talks on AI, Trade Before Summit (BBG)

    • Greece

      • Moody's Ratings changes Greece's outlook to positive from stable, affirms Baa3 ratings (link)

      • Greece receives two credit-rating boosts (ektathimerini )

    • Greenland

      • Trump announces agreement with Denmark/Greenland giving the US "permanent control over security, and all other needs" in Greenland -- Truth Social post

    • Oil

      • Crude eases with focus on Middle East supply:

  • Top company news

    • Earnings/updates

      • GLE.FP (Societe Generale) -- presents strategic plan for 2029; will continue cost reduction efforts

      • Also reporting today

        • Earnings:

          • DACHs: Curatis Holding (CURN.SW)

          • France: Abivax (ABVX.FP)

          • UK: Craneware (CRW.LN), Elixirr International (ELIX.LN)

        • Trading Update:

          • Nordics: Harboes Bryggeri (HARB.B.DC)

        • CMD/Events: Societe Generale (GLE.FP) new strategic and financial roadmap at 9:00BST, AXA (CS.FP) investor meeting roundtable, Novo Nordisk (NOVO.B.DC) at 9:00BST, Sartorius (SRT3.GR) and Sartorius Stedim Biotech (BIM.FP) JPMorgan CEO call series, Ayvens (AYV.FP), UniCredit (UCG.IM) EGM vote on proposal to issue of contingent convertible bond and shares related to total return swap agreements, Leonteq (LEON.SW) EGM on shareholder proposals, Volvo Cars (VOLCAR.B.SS) pre-close call Q3

    • M&A

      • PPT.AU (Perpetual) -- rejects further revised proposal from EQT; considers process of engagement with EQT as concluded

      • HEIA.NA (Heineken) -- near deal to buy 300 pubs from Stonegate for £300M (€349.8M) - London Times

      • UniCredit, Crédit Agricole and others interested in Banca del Mezzogiorno and Cassa di Risparmio di Orvieto -- Corriere (18-Sep)

      • INPST.NA (InPost) -- InPost confirms 89.81% of shares tendered under consortium's offer

      • ARBN.SW (Arbonia) -- sells its former corporate centre for ~CHF 21M

      • PEUG.FP (Peugeot Invest) -- commits $175M to Mérieux NutriSciences to back the acquisition of Certified Group

      • O5G.GR (CPI PROPERTY GROUP) -- CPI PROPERTY GROUP completes sale of 27 Savile Row in London for ~£105M

      • Amstead Industries (private) evaluating potential sale of its cooling systems unit Baltimore Aircoil at potential $6B+ valuation -- Bloomberg

    • Healthcare

      • TEVA (Teva Pharmaceutical) -- announces new olanzapine LAI (TEV-'749) post hoc data

      • AMRX (Amneal Pharmaceuticals) -- announces FDA approval and launch of lanreotide injection

      • GALD.SW (Galderma Group) -- Galderma begins trading in the Swiss Market Index

    • Other

      • SAF.FP (Safran) -- announces €375M share buyback for cancellation

      • TTE.FP (TotalEnergies) -- signs MoU with Petroleos de Venezuela; terms undisclosed

      • P911.GR (Porsche) -- Volkswagen seeking to cut 4,100 more jobs at Porsche AG - Handelsblatt

      • PGHN.SW (Partners Group Holding) -- Partners Group considering transaction to shift €800 million of certain private credit loans into continuation fund -- Bloomberg

      • AMUN.FP (Amundi) -- announces completion of €500M share buyback program

      • VOLCAR.B.SS (Volvo Car) -- Håkan Samuelsson to step down as Volvo Car president/CEO

      • Estimated weekend box office revenues in US, Canada $110.7M, +50% y/y - Box Office Mojo

      • ProEnergy planning to list in US - Bloomberg

  • Key rating changes

    • Upgrades

      • HLUN.B.DC (H. Lundbeck) -- to buy from neutral at UBS

      • MAERSK.B.DC (Maersk) -- to buy from hold at Fearnley

    • Downgrades

      • BTRW.LN (Barratt Redrow) -- to hold from add at Peel Hunt

      • VOW3.GR (Volkswagen) -- to hold from buy at Kepler Cheuvreux

      • PAH3.GR (Porsche Automobil Holding SE) -- to reduce from hold at Kepler Cheuvreux

    • Initiations

      • LOTB.BB (Lotus Bakeries) -- buy at Jefferies

      • AOF.GR (ATOSS Software) -- neutral at UBS

  • Data

    • Nikkei +0.00% to 65018.95

    • Hang Seng +0.60% to 24899.93

    • Shanghai Composite +0.62% to 3936.23

    • S&P futures +32.5 vs prior close of 7712.5

    • €-$ (0.0012) or (0.10%) to 1.1474

    • $-¥ +0.26 or +0.17% to 157.09

    • €-¥ +0.09 or +0.05% to 180.23

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.
Please refer to "Terms Of Use".

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