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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE +0.2%, DAX +0.2%, CAC +0.2%

Sep 28 ,2026

  • Synopsis

    • European equity markets set to open cautiously higher, extending last week's gains when the Stoxx Europe 600 closed up 0.5% for the week.

    • Asian equities mixed Monday. South Korea under pressure as trading resumes following public holiday Crude rebounding while gold and silver seeing heavy declines. Bond markets under pressure.

    • Oil higher on latest setback in Middle East diplomatic efforts after President Trump said he rejected Iran's SoH proposal and Iranian negotiators said they will not soften their position. Diplomatic door left ajar after Trump said he expects talks to resume this week and Iran's foreign minister also voicing readiness for negotiations. Main sticking point appears to be Iran's willingness to make concessions on nuclear issue. China industrial profit growth slowed with NBS citing base year effects and lopsided contributions from electronics and raw materials industry

    • European macro data releases out today include Norway Aug retail sales, Sweden Aug trade balance

    • In central banks, ECB's Machado speech at 9:40CET at XVII Expansión Financial Forum (through Tue). Norges Bank's Longva and Børsum speech at 10:00CET for Norges Bank's Central regional network. ECB's Elderson chairs panel at 11:30CET at ECB/ESCB Legal Conf (through Tue). BOE's Ramsden speech at 11:00BST on quantitative tightening, BOE co-hosted by Macro Money and Finance Society. Former chief economist at the IMF Gourinchas delivers the Global Economy Lecture at 11:00CET. Note ECB's Lagarde at regular meeting of EP committee (see EU Parliament (EP) bullet above).

    • In politics, Chancellor Healey speech at 12noon BST at Labour Party conf. He is reportedly expected to promise 'new age of industrialisation'. But he is not expected to reveal any details about his Budget plans.

    • EU defence ministers meeting and EU's Agriculture and Fisheries Council meeting (through Tue). Informal meeting of EU energy ministers also takes place (through Tue). EU's Dombrovskis participates in the ECFIN Implementation Dialogue on "Effective implementation of the country-specific recommendations". In Sweden, the new Riksdag meets for a roll call and elects a speaker. Social Democratic leader Magdalena Andersson has been tasked with trying to form a government.

  • Politics/Macro/World News

    • UK

      • No general election before 2029, Andy Burnham says (Guardian)

      • Burnham Hints at New UK Taxes to Pay for Social Care Reform (Bloomberg)

      • UK Chancellor Healey to promise 'new age of industrialisation' for UK in conference speech (BBC)

    • EU

      • EU is drawing up membership action plans for most promising candidates (POLITICO)

    • France

      • France's far-right National Rally gains ground in Senate, forms group for first time (France24 )

      • French government could reduce employer social security contribution exemptions by more than €3B in 2027 (Les Echos )

    • Switzerland

      • Swiss voters reject stricter neutrality rules that would have curbed Nato cooperation (Guardian )

  • Top company news

    • Earnings/updates

      • NESN.SW (Nestle) -- Nestlé publishes aide-mémoire ahead of 2026 9M sales

      • MDM.FP (Maisons du Monde) -- reports H1 net income (€64M) vs year-ago (€75.6M)

      • BETCO.SS (Better Collective) -- issues update following regulatory developments in Brazil, suspends FY27-28 guidance and share buyback program

      • Also reporting today

        • Earnings:

          • Benelux: OCI (OCI.NA), Fluxys Belgium (FLUX.BB)

          • France: OSE Immunotherapeutics (OSE.FP)

          • UK: Tullow Oil (TLW.LN), Likewise Group (LIKE.LN), Redcentric (RCN.LN)

        • CMD/Events: Roche Holding (ROP.SW) pharma day at 9:00BST, TotalEnergies (TTE.FP) 2026 Strategy & Outlook at 14:00BST, thyssenkrupp Steel Europe (TKA.GR), Medios (ILM1.GR), ACEA (ACE.IM) EGM, Hunter Group (HUNT.NO) EGM, Spinnova (SPINN.FH) EGM

    • M&A

      • RXL.FP (Rexel) -- has entered into an agreement with Audax Private Equity to acquire GCG, a US provider of specialty wire and cable, connectivity, power and engineered solutions for critical infrastructure applications; transaction values GCG at an Enterprise Value of ~$1.4B,

      • EVK.GR (Evonik Industries) -- BASF SE confirms exploratory talks regarding potential takeover of Evonik

      • NU (Nu Holdings) -- Nubank in preliminary talks to buy Monzo - Sky News

      • CWY.AU (Cleanaway Waste Management) -- EQT provides Cleanaway with written re-confirmation under the transaction Process Deed

      • EBP.PW (Santander Bank Polska) -- Erste Group (EBS.AV) to launch voluntary tender offer to increase its shareholding in Erste Bank Polska by up to 26%; offer price to be ~PLN713/sh

      • ARION.IR (Arion Banki) -- announces second phase of the sale process for Blikastaðaland ehf. to commence with total purchase price of bids ranges from ISK 14 - 16B

      • Armani willing to sell its 15% stake to more than one investor - CNBC

    • Healthcare

      • ROP.SW (Roche Holding) -- FDA approves Roche's Gazyva for the treatment of Idiopathic nephrotic syndrome in patients 2+

      • 0TB.GR (Theravance Biopharma) -- SEC filing: SCHEDULE 13D/A (Filed by Weiss Asset Management LP)

      • 13.HK (Hutchmed) -- initiates Phase Ia part of global clinical trial of HMPL-A830 in patients with unresectable, advanced or metastatic solid tumors

      • NWRN.SW (Newron Pharmaceuticals) -- FDA announces hold on enrollment of new patients will remain in place at US sites in Phase 3 ENIGMA-TRS 2 study with evenamide

      • IBAB.BB (Ion Beam Applications) -- Penn Medicine and IBA launch JV to advance proton therapy and radiation oncology program development worldwide

      • 3692.HK (Hansoh Pharmaceutical Group) -- EC revokes marketing approval for Hansoh Pharmaceutical Group's Aumolertinib in EU

    • Other

      • TTE.FP (TotalEnergies) -- announces final investment decision for Absheron full field development

      • KOG.NO (Kongsberg Gruppen) -- awarded $404.4M US Navy contract

      • DKSH.SW (DKSH Holding) -- DKSH and Grünenthal announce new partnership agreement to accelerate access to innovative pain management solutions across eight markets in Asia-Pacific

      • TRMD.A.DC (TORM Plc) -- SEC filing: SCHEDULE 13D/A (Filed by Hafnia Ltd)

      • Estimated weekend box office revenues in US, Canada $122.5M, +64.3% y/y - Box Office Mojo

      • Rio Tinto awarded $995.0M Defense Logistics Agency contract

  • Key rating changes

    • Upgrades

      • AKZA.NA (Akzo Nobel) -- to outperform from neutral at Oddo

      • DNB.NO (DNB Bank) -- to buy from hold at ABG Sundal Collier

      • DOKA.SW (dormakaba Holding) -- dormakaba Holding transferred buy at Jefferies; prior rating was hold

      • HFG.GR (HelloFresh) -- to hold from reduce at Kepler Cheuvreux

      • NHY.NO (Norsk Hydro) -- to hold from sell at Danske Bank

      • INSTAL.SS (Instalco) -- to buy from hold at Pareto

      • KRN.GR (Krones) -- to hold from reduce at Kepler Cheuvreux

      • VER.AV (Verbund) -- to hold from sell at Deutsche Bank

    • Downgrades

      • PNDX.B.SS (Pandox) -- to hold from buy at Nordea

      • CIBUS.SS (Cibus Nordic Real Estate) -- to hold from buy at Nordea

      • AYV.FP (Ayvens) -- to neutral from buy at UBS

    • Other Actions

      • DSY.FP (Dassault Systemes) -- reinstated underperform at Jefferies; previous rating was underperform (earlier, timing uncertain)

  • Data

    • Nikkei (0.27%) to 66187.05

    • Hang Seng +0.54% to 24642.94

    • Shanghai Composite (1.95%) to 3812.50

    • S&P futures (31.0) vs prior close of 7803.8

    • €-$ +0.0000 or +0.00% to 1.1384

    • $-¥ +0.44 or +0.28% to 157.68

    • €-¥ +0.46 or +0.26% to 179.45

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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