Europe First to Market

This report provides daily market updates for EMEA equities, highlighting growth prospects in investment banking and specific bullish cases for companies like Nokia.

Key Takeaways

• 1.Nokia is seeing significant momentum in AI and Cloud orders, driven by a strong new product line-up in the optical market.
• 2.Global Investment Banks are expected to see strong EPS growth in 2Q 2026 driven by equity trading and a multiplier effect from upcoming IPOs.
• 3.UPM remains Underweight due to exposure to pulp market downside and valuation premiums, despite market enthusiasm for its energy division.

Table of Contents

• Today's Morning Meeting
• Also Published Today
• In Case You Missed It... Trending in the Last Month
• Key Changes
• JPM Events
• Upcoming Earnings