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[MARKET ANALYSIS] Equities suffer from higher oil prices, Adidas +1.5% after the London marathon, Cint Group +32% on a takeover bid

European equities are showing modest weakness due to higher oil prices and ongoing geopolitical tensions, particularly related to the Strait of Hormuz.

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[MARKET ANALYSIS] Equities suffer from higher oil prices, Adidas +1.5% after the London marathon, Cint Group +32% on a takeover bid

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  • European equities (STOXX 600 -0.1%) began the week on a modestly weaker footing with a focus on the ongoing geopolitical newsflow and oil prices.
  • On the latter, Iran reportedly gave the US a proposal to reopen the Strait of Hormuz and end the war, while postponing nuclear negotiations, Axios reported, with the plan relayed via Pakistani mediators after Foreign Minister Araghchi’s meetings in Islamabad over the weekend. Equities were helped after the report, but as crude failed to hold onto losses, energy-sensitive bourses have come under pressure. 
  • Sectors opened with a positive bias, but the leaderboard now looks mixed. Topping the pile is Retail, led by Adidas, +1.6%, where two runners wore its new ultra-light racing shoe to break the two-hour barrier at the 2026 London Marathon. Also performing well is the Energy sector, with Energy benchmarks firmer on the day. At the bottom of the pile are the consumer-sensitive Optimised Personal Care and Food Beverage & Tobacco.
  • Other European movers include: Swedish-listed Cint Group, up 32% after receiving a SEK 5.60/share cash offer (last close SEK 4.21/shr), and Forvia, up 1% after selling its Interiors group for an EV of EUR 1.82 billion. Whitbread rose 3.5% with the name to sell 20% of freehold hotel properties, Commerzbank +2.0% after German officials were said to approach banks exploring whether a new investor could step in to take a stake, while Sainsbury's slipped some 3% after being downgraded to Neutral from Buy at Citi.
  • US equity futures are entirely in the red, albeit only marginally; ES -0.1%, NQ -0.1%. The US-specific docket is light ahead of this week's FOMC meeting, with just 2 and 5yr supply, and Dallas Fed Manufacturing scheduled.
Context

The potential easing of tensions could provide some support, but the persistent strength in oil prices remains a significant concern for market sentiment today, especially in energy-sensitive sectors.

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