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Back to Daily DR Market Summary

StreetAccount summary - Europe pre-Open: FTSE +0.3%, DAX +0.6%, CAC +0.5%

Oct 12 ,2026

  • Synopsis

    • European equity markets are set to open broadly higher. Recall European equity markets put in a mixed performance last week. The benchmark Stoxx 600 was little changed, but there were downbeat performances in France, Germany and Italy. UK and Swiss markets outperformed.

    • Oil swinging lower following morning strength with geopolitical headlines driving price action. Gas futures also on the downswing after President Trump claimed energy ceasefire between Ukraine and Russia. Comes after Trump announced diesel deal with Russia, and Moscow partially lifting its diesel export ban. Reprieve comes as fighting between Houthis and Saudis escalated on weekend after Houthis mounted deadliest strike in more than a decade. Not much new on Iran though top official claimed US accepted some of its demands to reopen SoH.

    • Asian equities mixed Monday. South Korea weighed down by steep declines in memory majors. Taiwan semis mostly lower. On the macro front, China vowed to step up counter-cyclical adjustments and introduce additional measures in support meeting 2026 economic targets. Also pledged to fast track issuance of government bonds and allocated CNY550B ($82B) in unused quotas for local government operations and infrastructure funding.

    • This week sees IMF and World Bank annual meetings, EU leaders' summit, OPEC / IEA monthly oil market reports, Paris Motor Show, UK Aug industrial/manufacturing production, Sep final CPIs from across the region as well as earnings/updates from ASML Holding (ASML.NA), bp (BP.LN), Brunello Cucinelli (BC.IM), Givaudan (GIVN.SW), LM Ericsson (ERIC.B.SS), LVMH Moet Hennessy Louis Vuitton (MC.FP), Nordea Bank (NDA.SE.SS), Schneider Electric (SU.FP) and TomTom (TOM2.NA).

    • European macro data releases include Denmark Sep CPI, Netherlands Aug trade balance, Belgium Aug industrial production

    • In central banks, Boards of Governors of the World Bank Group and IMF, annual meetings in Bangkok, Thailand (through Sun), ECB's Lagarde, Cipollone and Vujčić among the participants, as are Bundesbank's Nagel, Mauderer, Theurer and Köhler-Geib. BOE's Breeden interview at 10:30BST with Atlantic Council on digital assets, tokenization and upcoming G20 presidency whilst BOE's Mann is a panellist at 13:50BST at NABE Annual Meeting (Sun-Tue). Riksbank's Bunge gives a speech at 16:30CET on AI and its impact on the economy, monetary policy, and financial stability, as well as the economic situation, at the Southern Sweden Chamber of Commerce. Meeting of the EU Foreign Affairs Council - chaired by Kallas, EU's Micallef among the participants. EU Environment Council meeting includes a policy debate on the review of the EU's emissions trading system (ETS). EU's Hoekstra attends, EU's Roswall among the participants. Informal meeting of telecommunications ministers takes place (through Tue) whilst EU's von der Leyen participates in the EPP Group Study Days. In the UK, Parliament returns after recess for the party conf season and there are MPs questions on work and pensions whilst the resilience of the UK's food supply to disruptions is topic of committee business at 15:30BST. Norway's PM Støre opens the Warsaw Security Forum, EU's Kubilius also among the speakers.

    • Paris Motor Show (through Sun). On the opening day, company events include Stellantis (STLAM.IM) to unveil new Mobility Vision with Nine Concept Cars, roundtable discussion at 9:15CET followed by brand press confs. through the morning; Renault (RNO.FP) will be showcasing a completely renewed range of full electric and full hybrid vehicles, unveil a new concept car: Renault E-Space Concept; press conf at 8:30CET (livestream). Starting Mon, the Volkswagen Group's brands - Volkswagen, Volkswagen Commercial Vehicles, Škoda, CUPRA, and Audi - will present their latest model innovations during press confs at their booths at the Paris Motor Show.

  • Politics/Macro/World News

    • EU to Cap Chinese Hybrid Car Imports at 350,000 Each Year (Bloomberg )

    • Deadly Attacks on Saudi Arabia Risk Wider War That Draws In US (Bloomberg)

    • UK Ministers Explore Compulsory AI Safety Reporting (FT)

    • NATO Should Prepare For Deadly Russian 'Hybrid' Attack, Says Poland (FT)

    • Andy Burnham to step up UK business outreach amid fears of Budget tax rises (FT )

    • Rejecting closer EU ties would be dereliction of duty, PM to say (BBC )

  • Top company news

    • Earnings/updates

      • NDX1.GR (Nordex) -- reports Q3 order intake 2.8 GW, +29.5%

      • AB.FP (AB Science) -- reports H1 net income (€9.0M) vs year-ago (€5.2M)

      • HACK.SS (Hacksaw) -- reports preliminary Q3 revenue €57.5-58.5M vs FactSet €64.3M [2 est, €64.2-64.4M]

      • TELIA.SS (Telia) -- proposes further localization of operations and targets SEK 1B in annual gross savings; expected to have net positive impact on free cash flow with full run-rate benefit from 2028

      • Also reporting today

        • Trading Update:

          • France: LVMH Moet Hennessy Louis Vuitton (MC.FP) (after market close)

          • Nordics: Vår Energi (VAR.NO), Nordic Mining (NOM.NO)

          • Southern Europe: Galp Energia (GALP.PL)

          • UK: Entain (ENT.LN), Hays (HAS.LN), Greencore Group (GNC.LN), Mondi (MNDI.LN), Dunelm Group (DNLM.LN),

        • Traffic: Flughafen Zuerich (FHZN.SW), Heathrow Airport (+HTR.LN), Aeroflot-Russian Airlines (AFLT.RU)

        • CMD/Events: TietoEVRY (TIETO.FH) payments user group, Porsche (P911.GR) pre-close call, L'Oreal (OR.FP) regional meeting with individual shareholders at 18:30CET

    • M&A

      • IVG.IM (Iveco Group) -- receives increased offer of $14.40/sh due to the slight delays in completion of prior offer; TML declared as best and final offer

      • IVG.IM (Iveco Group) -- welcomes the increase in the Offer Price from TML

      • INW.IM(Inwit) -- Leading shareholders in INWIT line up financing for possible take-private -- Reuters, citing sources (11-Oct)

      • UNI.IM (Unipol Gruppo) -- announces ECB and Bank of Italy grant the regulatory authorizations to exceed the 20% of the share capital and voting rights and the acquisition of BPER Banca S.p.A.

      • CWY.AU (Cleanaway Waste Management) -- EQT currently finalising assessment of its due diligence review of Cleanaway Waste Management; confirms its commitment to proceed

      • ALFOR.FP (Forsee Power) -- Announces the End of Discussions With FCAP and Continues the Initiatives Undertaken to Strengthen Its Financial Structure

      • Lincoln Place receives first round bids near A$600M, company is seeking a A$900M+ valuation -- The Australian

      • ENI.IM (Eni) -- signs two agreements for sale of stakes in selected upstream assets in Indonesia

    • Healthcare

      • AZN.LN (AstraZeneca) -- HICKORY Phase III trial showed efzimfotase alfa demonstrated numerical improvement in primary endpoint of 6MWT in adolescents and adults with HPP who hadn't been treated with Strensiq at week 25

      • ROP.SW (Roche Holding) -- presents new phase III one-year data for Vamikibart in Uveitic Macular Edema at AAO 2026

      • BBIO (BridgeBio Pharma) -- reports Phase 3 ATTRibute-CM sub-analyses of acoramidis in ATTR-CM presented at HFSA

      • IDIA.SW (Idorsia) -- reports positive Aprocitentan data in patients with obesity and cardiometabolic disease

      • MEDCL.FP (MedinCell) -- Transcript Intelligence: MedinCell WELTRUZA FDA Approval Call

    • Other

      • PHIA.NA (Koninklijke Philips) -- FDA issues early alert on recall of Philips Lumify Ultrasound system

      • SSE.LN (Scottish and Southern Energy) -- commences on previously announced £105M share buyback program

      • VK.FP (Vallourec) -- awarded major contract by TotalEnergies to supply tubular solutions for development of the Absheron gas field in Azerbaijan

      • TE.FP (Technip Energies) -- awarded large EPC contract by HPCL for Mumbai refinery modernization project in India

      • RILBA.DC (Ringkjøbing Landbobank) -- completes previously announced DKK 400M buyback program

      • Estimated weekend box office revenues in US, Canada $84.4M, +20.2% y/y - Box Office Mojo

      • Geothermal Check-In - Drilling deflation and cost of capital keys to watch

      • USITC launches Section 337 investigation into certain vertical power delivery systems for potential patent infringements (9-Oct)

  • Key rating changes

    • Upgrades

      • CWK.LN (Cranswick) -- to buy from add at Peel Hunt

      • TRYG.DC (Tryg) -- to neutral from sell at Goldman Sachs

      • CARL.B.DC (Carlsberg) -- to equal weight from underweight at Barclays (DKK 873.80)

      • NEX.FP (Nexans) -- to buy from hold at Jefferies

    • Downgrades

      • PNN.LN (Pennon Group) -- to hold from buy at Deutsche Bank

      • AT1.GR (Aroundtown) -- to neutral from buy at Goldman Sachs

  • Data

    • Nikkei +0.00% to 69030.92

    • Hang Seng +0.08% to 24231.61

    • Shanghai Composite (0.39%) to 3798.77

    • S&P futures +23.3 vs prior close of 7859.8

    • €-$ +0.0012 or +0.11% to 1.1203

    • $-¥ +0.11 or +0.07% to 158.34

    • €-¥ +0.31 or +0.18% to 177.37

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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