Europe First to Market

This report provides a morning update on European equity markets, highlighting Givaudan's growth forecast and the regulatory impact on global banks' wealth management operations in China. It also previews the upcoming 2026 JPM Industrials Conference.

Key Takeaways

• 1.Givaudan forecast Q2 LFL to accelerate to +4.1%, ahead of consensus 3.1%.
• 2.New Chinese ODI regulations create uncertainty for Wealth Management revenue for UK, Asian, and Swiss banks.
• 3.European Industrials investors are harboring concerns regarding Electrical Equipment, Civil Aero, and Defence verticals.

Table of Contents

• Today's Morning Meeting
• Also Published Today
• Key Changes
• JPM Events
• Upcoming Earnings