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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.29%, DAX +0.21%, CAC40 (0.07%)

Oct 02 ,2026

  • Synopsis

    • European markets indicate mixed to higher open. Asian equities mixed and US futures higher. Note Mainland China closed for National Day holiday. Bonds mixed with Treasury yields up 1-2 bp while JGB yields down 1-2 at the front end of the curve. Dollar steady against majors. Crude backing off overnight highs. Gold and silver off lows. Bitcoin nudging higher.

    • Yields stabilizing following recent surge higher. Rate pullback fairly shallow and Treasuries have resumed weakness following Thursday's bull steepening move. Crude rebounded amid lack of diplomatic progress in Middle East and latest war threats from Trump. Latest PMIs also revealed firms face ongoing cost pressures. While softer August core PCE inflation led to moderately flatter rate path, market still pricing in three Fed rate hikes by mid-2027.

    • On the agenda today, in central banks, Bank of Finland's Rehn speech at 9:30CET on final day of annual conf. of the European Systemic Risk Board, with Netherland central bank's Sleijpen chairing a panel at 10:15, ECB's Vujčić speech at 13:30 and ECB's Buch panellist at 14:15. ECB's Cipollone speech at 9:30CET at 10th Conf. of Mediterranean Central Banks (through Sat). Bundesbank's Nagel speech at 21:35CET at Rostock Merchants' Assn/ SNB Research conf (through Sat). Bank of France's Moulin due to speak in Paris. Also on Fri are UK Green Party conf (through Sun) whilst EU Justice Council meets and EU's Hansen chairs the 8th meeting of the European Board on Agriculture and Food.

    • In macro releases for today, Spain Sep unemployment change due at 8:00 BST, followed by Italy Aug retail sales at 9:00 BST and Eurozone Sep flash CPI at 10:00 BST.

  • Politics/Macro/World News

    • UK:

      • Andy Burnham searches for UK alternative to Palantir (FT )

      • Britain in talks with European allies over release of emergency diesel stockpiles amid Trump pressure (The Guardian )

    • Germany:

      • German government raises growth forecasts for 2026 and 2027, source says (Reuters )

      • German chemical industry mood rises for second straight month in September, Ifo says (Reuters )

    • France:

      • France's Crisis Is Deepening as Investors Head for the Exit (Bloomberg )

    • Politics:

      • Israel's Herzog calls British sanctions a 'grave mistake,' accuses UK of election interference (Politico )

    • Trade:

      • 'Tough' talks with China have yet to deliver, EU trade chief says (Politico )

    • War/Defense:

      • EU, Ukraine agree to accelerate €45B loan payout in 2027 (Politico )

      • Merz warns of more Russian hybrid attacks as he reaffirms support for Ukraine (Reuters )

      • Putin Has Told Military Leaders To Abandon Rules Of War, Zelenskyy Says (FT )

      • Swiss Opposition to US Fighter-Jet Deal Hardens, Poll Shows (Bloomberg )

  • Top company news

    • Earnings/updates

      • STLAM.IM (Stellantis) --Q3 Total US Sales 324,277 vs. 324,825 year-ago

      • BN.FP (Danone) -- publishes its Q3 sales aide-mémoire

    • M&A

      • HEN3.GR (Henkel) -- successfully closes acquisition of specialty coatings company Stahl

      • CLN.SW (Clariant) -- acknowledges closing of the Stahl transaction between Wendel SE and Henkel; preliminary cash proceed of ~CHF220M pre-tax

      • MF.FP (Wendel) -- finalizes sale of its stake in Stahl (excluding Muno) for an enterprise value of €2.1B to Henkel

      • BA.LN (BAE Systems) -- considering bid for Robin Radar Systems in potential $2.3B deal - Reuters

      • SGO.FP (Compagnie de Saint-Gobain) -- completes acquisition of Xypex

      • ERF.FP ( Eurofins Scientific) --- UL Solutions Inc. (ULS) completes acquisition of Eurofins Scientific's Electrical & Electronics business

      • BT.A.LN (BT Group) -- BT in talks with government to get approval to possibly buy TalkTalk - FT

      • SGSN.SW (SGS) -- acquires Prescient Security; terms undisclosed

      • +KNDS.GR (KDNS NV) -- Warburg Pincus has been holding talks to potentially acquire substantial stake in KNDS NV -- Bloomberg, citing sources

      • NEWA.B.SS (New Wave Group) -- completes acquisition of uhlsport group

      • 0IFR.LN (ChronoScale Holdings Corp.) -- ChronoScale announces agreements bringing contracted run-rate revenue to $1B; sale of Ekso Bionics business unit

      • BRKN.SW (Burkhalter Holding) -- Burkhalter Group acquires Plasco AG in Steg (Valais); price not disclosed

      • HEI.GR (Heidelberg) -- MAAS Group (MGH.AU) completes previously announced sale of construction materials business to Heidelberg for A$1.61B

      • TFIN.IM (Trevi-Finanziaria Industriale) -- Trevi board approves update to issuer's statement on ICOP's voluntary public exchange offer following increase in consideration

      • EG Group delays plans to list, has seen interest from potential buyers - FT

    • Healthcare

      • REGN (Regeneron) -- announces new results from Phase 2 COURAGE trial

      • COLO.B.DC (Coloplast) -- provides update on change of ownership

      • NANO.FP (Nanobiotix) -- appoints Arnd Christ as CFO

    • Other

      • DOM.SS (Dometic Group) -- prevails in earnout dispute with ACON Igloo Holdings LLC

      • CRBN.NA (Corbion) -- CEO Olivier Rigaud to step down at the end of current term on 12-May-27

      • 57L.GR (Sono Group) -- SEC filing: SCHEDULE 13D (Filed by Alpine Fox Capital LLC)

      • DG.FP (VINCI SA) -- VINCI implements €270M share buyback programme

      • GLE.FP (Societe Generale) -- completes €1.5B share buy-back program

      • BAER.SW (Julius Baer Group) -- Julius Baer announces CHF 600M share buy-back and revised capital distribution policy

      • FFARM.NA ForFarmers and KPS Food Group announce JV in Poland completed

      • ENDUR.NO Endur subsidiary, Artec Aqua VAQ AS, awarded contract by Gaia Salmon Holding AS bankruptcy estate for engineering and planning phase of modification and completion of Gaia Salmon's land-based RAS facility at Trona, Norway

      • Italy Sep new passenger car registrations 139,356 units, +9.9% y/y -- UNRAE

      • Manulife Financial closes reinsurance of $3.2B of policies in Munich American Reassurance Company; deal was announced 5-Aug

  • Key rating changes

    • Upgrades

      • FORTUM.FH (Fortum) -- to neutral from sell at UBS

      • ITP.FP (Interparfums) -- to buy from hold at Kepler Cheuvreux

      • HAG.GR (HENSOLDT) -- to buy from hold at Kepler Cheuvreux

      • UMG.NA (Universal Music Group) -- to overweight from equal weight at Barclays

    • Downgrades

      • CBK.GR (Commerzbank) -- to sector perform from outperform at RBC Capital Markets

      • TREL.B.SS (Trelleborg) -- to hold from buy at Pareto

      • BILL.SS (Billerud) -- Billerud assumed, downgraded to hold from buy at DNB Carnegie

      • LNZ.AV (Lenzing) -- to hold from buy at Berenberg

      • ATRLJ.B.SS (Atrium Ljungberg) -- to hold from buy at Handelsbanken

      • BALD.B.SS (Fastighets Balder) -- to hold from buy at Handelsbanken

      • CATE.SS (Catena) -- to hold from buy at Handelsbanken

      • ENTRA.NO (Entra ASA) -- to hold from buy at Handelsbanken

      • FABG.SS (Fabege) -- to hold from buy at Handelsbanken

      • HEBA.B.SS (HEBA Fastighets) -- to hold from buy at Handelsbanken

    • Initiations

      • SALM.NO (Salmar) -- buy at Goldman Sachs

      • MOWI.NO (Mowi ) -- neutral at Goldman Sachs

    • Other

      • STERV.FH (Stora Enso) -- assumed buy (unchanged) at DNB Carnegie

      • UPM.FH (UPM-Kymmene) -- assumed buy vs prior hold at DNB Carnegie

      • HOLM.B.SS (Holmen) -- assumed hold (unchanged) at DNB Carnegie

      • METSB.FH (Metsa Board) -- assumed hold (unchanged) at DNB Carnegie

      • SCA.B.SS (Svenska Cellulosa) -- assumed hold (unchanged) at DNB Carnegie

      • ACS.SM (ACS SA) -- reinitiated outperform at Oddo

      • FCC.SM (Fomento de Construcciones y Contratas) -- reinitiated outperform at Oddo

      • ANA.SM (Acciona) -- reinitiated neutral at Oddo

  • Data

    • Nikkei (0.99%) to 68271.32

    • Hang Seng (2.69%) to 23951.10

    • Shanghai Composite closed

    • S&P futures +20.3 vs prior close of 7724.0

    • €-$ +0.0003 or +0.03% to 1.1248

    • $-¥ (0.25) or (0.16%) to 157.82

    • €-¥ (0.24) or (0.14%) to 177.49

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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