Stocks on the Rise

Lufthansa (+6%): Airlines are regaining altitude following news of a deal between the United States and Iran. The prospect of Middle Eastern de-escalation is driving oil prices lower, easing the pressure on fuel costs.

Saint-Gobain (+6%): The French building materials giant has reached an agreement to sell its Dahl technical trading business to Finnish distributor Kesko. The transaction values the assets at €1.2bn excluding net debt and lease liabilities, and up to €1.52bn including them. Completion is expected by early 2027, subject to regulatory approvals.

SKF (+5%): The Swedish bearing specialist is benefiting from support from Deutsche Bank. The brokerage reiterated its buy recommendation and slightly raised its price target from SEK275 to SEK280.

LVMH (+4%): Luxury stocks are also rebounding on the Washington-Tehran accord. The group, which has significant exposure to the Middle Eastern market and has long been weighed down by regional tensions, is benefiting from a calmer market climate. Hermès (+4%), Dior (+4%), and Kering (+3%) are also surging.

Stocks on the Decline

OHB (-9%): The German satellite manufacturer is falling sharply despite the broader enthusiasm for the space sector. The group intends to raise approximately €500m through a rights issue, a move that has sparked dilution fears, even though the Fuchs family will retain control.

Kesko (-8%): The Finnish distributor is seeing a cold reception after its acquisition of Dahl from Saint-Gobain. While the deal strengthens its technical trading footprint in Northern Europe, the €1.2bn price tag, partially funded by a €500m to €700m share issuance, is fueling dilution concerns.

TotalEnergies (-5%): Geopolitical easing is deflating crude prices. The framework agreement between Washington and Tehran, coupled with the announced reopening of the Strait of Hormuz, sent Brent tumbling 4% in early Monday trading. Equinor, Shell, and Maurel are also retreating in tandem with oil prices.

Telia Company AB (-3%): The Swedish operator is focusing its narrative on sovereign AI, partnering with KTH and Brookfield to develop secure services in Sweden. However, the memorandum of understanding remains at the intentional stage with no immediate financial impact, leaving the market wanting more.