Global equity sentiment remains relatively optimistic despite persistently higher oil prices on global markets, which are now approaching $84 per barrel and have already risen by more than 20% this year.
- The war in the Middle East continues and, according to comments from Israel yesterday, is expected to last at least another two weeks. At the same time, there is growing hope for a gradual reopening of shipping through the Strait of Hormuz. Iran has shown no interest in negotiations with the United States and denied reports about alleged informal talks with the CIA.
- The United States is expected to provide naval escorts for vessels, and today Bloomberg, citing military sources, reported that Iran will respect the conditions of free navigation in the Strait. However, these statements contradict reports of additional ships being hit by drones near the Strait, while freight rates have experienced unprecedented increases.
- European indices are mostly trading higher, despite mixed sentiment on Wall Street ahead of the market open. Bitcoin remains near $72,000, while precious metals are consolidating with little change today — gold is trading around $5,160 per ounce.
China, the world’s largest importer, is attempting to conserve fuel by suspending exports of diesel and gasoline. Asian markets are rebounding after Wednesday’s sell-off; the MSCI Asia Pacific index rose 2.4%. Korea led the regional recovery, with Kospi up 10% and Kosdaq up 14%, as chipmakers Samsung and SK Hynix recovered following panic selling. US index futures are trading in mixed territory. European chip and software companies are moving higher following stronger-than-expected revenue forecasts from Broadcom, which surges more than 6% in the US pre-market. CEO Hock Tan indicated that sales of its AI chips could exceed $100 billion next year.
European stock news
- Alfa Laval: Morgan Stanley upgraded the stock to equal-weight (from underweight) and expects potential order beats in the Marine segment this year.
- Wizz Air: disruptions in the Middle East are expected to push FY2026 net profit below the previous guidance range (+€25m to -€25m).
- Heidelberg Materials: Citi upgraded the company to buy (from neutral), stating that the recent sell-off driven by concerns over the EU carbon market appears overdone.
- Davide Campari shares are rising ahead of the US market open after reporting EBITDA above expectations. Citi described the results as solid overall, while RBC highlighted impressive revenue growth in the fourth quarter.
- Schaeffler and Deutz shares were added today to Germany’s mid-cap mDAX index. TORM shares are falling after Oaktree signaled a potential $79.5 million share sale in the tanker fleet operator.
Changes in analyst recommendations in Europe
Upgrades
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Aker BP → neutral (JPMorgan); PT: 308 NOK
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Alfa Laval → equal-weight (Morgan Stanley)
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Athens International Airport → equal-weight (Barclays)
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DSV → buy (ABG); PT: 1,900 NOK
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EnQuest → overweight (JPMorgan); PT: 25p
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Heidelberg Materials → buy (Citi); PT: 220 EUR
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Inditex → buy (Deutsche Bank); PT: 63 EUR
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Schweiter → add (Baader Helvea); PT: 289 CHF
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Softcat → neutral (UBS); PT: 1,225p
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Traton → buy (Pareto Securities); PT: €35.64
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Vistry Group → buy (Stifel); PT: 610p
Downgrades
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Aker BP → sell (ABG); PT: 260 NOK
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Domino’s Pizza Group → sell (Deutsche Bank); PT: 175p
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Duell → reduce (Inderes); PT: €2.80
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Flughafen Wien → neutral (Oddo BHF); PT: €55
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Keller → hold (Deutsche Bank); PT: 2,200p
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Segro → hold (Peel Hunt); PT: 825p
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TF1 → underweight (Barclays); PT: €7
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Var Energi → sell (ABG); PT: 33 NOK
DE40 (DAX futures, D1 timeframe)
The German DAX futures contract is attempting to maintain upward momentum, although the pace of gains has slightly slowed. Nevertheless, the long lower wicks on the last three candles suggest persistent buying interest, with the contract once again bouncing from support at the EMA200 level (red line).
Source: xStation5
Source: xStation5
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Morning wrap (05.03.2026)
Daily Summary – Indices rebound as oil markets await further developments
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