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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.41% to 7630.63, DAX +0.34% to 15237.99, CAC40 +0.27% to 7022.19, STOXX 600 +0.23% to 450.20

Oct 16 ,2023

  • Synopsis:

    • European equity ended in positive territory. In sectors, retail and commodity-linked shares the outsized gainer whilst healthcare and chemicals main underperformers.

    • Weekend headlines mainly dominated by geopolitical risks revolving the Israel-Hamas war as potential for broader regional escalation of conflict remains key focus. Geopolitical attention also on Xi-Putin summit this week to see if they reaffirm a 'no-limits' partnership. In Poland, Sky News reports that Polish opposition leader Donald Tusk is declaring the beginning of a new era after three opposition parties (Civic Coalition, Third Way and the New Left) appeared to have won enough votes in Sunday's election to oust the governing party. The FT notes the ruling Law and Justice party expected to come first but without the votes to govern alone or with the far right.

    • In macro releases, Italy Sep final CPI came in line with preliminary; Norway Sep Trade Balance at NOK45.6B vs consensus NOK62.4B and prior NOK61.4B. UK Oct house price index come in at (0.8%) y/y. Eurozone Aug Trade Balance in at €6.7B vs consensus €12.5B and prior €6.5B.

    • In M&A news, ATOS SE (ATO.FP) updated on the planned sale of Tech Foundations to the EPEI group (and also appointed former banker Jean Pierre Mustier as non-executive Chairman); in the DACH region, SoftwareONE Holding (SWON.SW) reportedly received several non-binding bids, whilst Hapag-Lloyd (HLAG.GR) will not make a counteroffer for Hamburger Hafen und Logistik (HHFA.GR); in Italy, local press reported that KKR raised its offer for Telecom Italia (TIT.IM) Netco unit to close to ~ €24B and - in France - Wendel (MF.FP) is considering acquiring mid-market private equity firm IK Partners.

    • Looking ahead to tomorrow's EU econ-calendar, main releases will include, amongst others, Germany Oct ZEW survey anf UK Sep claimant count change/Aug unemployment rate.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers

        • Retail +2.00%, Basic Resources +1.84%, Travel & Leisure +0.99%, Financial Svcs +0.95%, Banks +0.86%, Persnl & HHold Goods +0.51%, Oil & Gas +0.48%, Autos & Parts +0.46%, Food & Beverage +0.36%, Insurance +0.30%

      • Underperformers

        • Health Care (0.34%), Chemicals (0.12%), Media (0.06%), Ind Goods & Svcs (0.09%), Technology (0.04%), Telecom +0.07%, Utilities +0.07%, Construct & Mtls +0.09%, Real Estate+0.22%

    • Macro:

      • Central banks

        • ECB seen preserving peak rates until H2 of next year -- Irish Times

        • BoE's Pill warns against declaring premature inflation victory -- Reuters

      • EU

        • U.S, EU business groups push for steel deal, minerals drive at summit -- Reuters

        • France, Germany face test over EU power market reform -- euobserver

      • UK

        • One third of Britons to cut back on Christmas spending -PwC -- Reuters

      • Germany

        • Germany plans new checks at Polish, Czech, Swiss borders -- Politico

      • France

        • France ready to accelerate spending cuts as it battles persistent deficits -- FT

      • Italy:

        • Italy delays contested taxes on plastic, sweetened drinks until mid-2024 -- Reuters

    • Company news:

      • Notable Gainers

        • +49.5% ALPHA.FP (Pharnext €0.17, +0.06) -- receives two offers valuing its candidate drug in Charcot-Marie-Tooth disease type 1A to older of €250M and raises €2.5M

        • +15.1% BGBIO.NO (BerGenBio NOK0.14, +0.02) -- study update

        • +7.3% ABNX.FP (ABIONYX Pharma €1.23, +0.08) -- study update

        • +5.8% ATO.FP (ATOS SE €5.16, +0.28) -- Chair to step down; updates on planned sale of Tech Foundations to the EPEI group

        • +5.3% SWON.SW (SoftwareONE Holding CHF19.00, +0.95) -- SoftwareONE Holding receives several non-binding bids -Reuters

        • +5.2% OSE.FP (OSE Immunotherapeutics €4.59, +0.23) -- study update

        • +4.6% SZG.GR (Salzgitter €24.78, +1.10) -- JPMorgan upgrade

        • +4.4% AGY.LN (Allergy Therapeutics £0.01, -0.00) -- SkyGem announces mandatory cash offer for company at price of 1 pence per share

        • +4.4% TSTL.LN (Tristel £4.13, +0.18) -- prelim FY earnings

        • +3.8% OKDBV.FH (Oriola €0.95, +0.03) -- to sell Svensk dos to Apotekstjänst Sverige for SEK 110M

        • +3.3% ITM.LN (ITM Power £0.72, +0.02) -- to start bidding into projects in the US market

        • +2.9% SPR.LN (Springfield Properties £0.54, +0.02) -- sells 9.5 acres of land for £5.2M

        • +2.6% HEIJM.NA (Heijmans €10.42, +0.26) -- receives positive final ruling in Wintrack II proceedings

        • +1.8% AEF.IM (Aeffe €0.81, +0.01) -- appoints new Creative Director of Moschino

      • Notable Decliners

        • -7.5% AFRY.SS (AFRY AB SEK124.80, -10.10) -- Handelsbanken downgrade

        • -6.2% TIT.IM (Telecom Italia €0.26, -0.02) -- receives binding offer on Netco from KKR

        • -5.8% OCDO.LN (Ocado Group £5.00, -0.31) -- transferred underweight at Barclays

        • -3.8% CO.FP (Casino Guichard-Perrachon €1.10, -0.04) -- announces disposal of its stake in Éxito Group

        • -2.8% OXB.LN (Oxford BioMedica £2.76, -0.08) -- Novo Holdings raises stake in company to 11.1% from 10%

        • -2.4% HAW.GR (Hawesko Holding €33.20, -0.80) -- prelim Q3 earnings

        • -1.7% ENSU.NO (Ensurge Micropower NOK0.11, -0.00) -- study update

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Telekom Austria (TKA.AV), BAWAG (BG.AV)

        • France: Broadpeak (ALPBPK.FP)

        • Nordics: EQT (EQT.SS), Ericsson (ERIC.B.SS), Note (NOTE.SS), Elanders (ELAN.B.SS), ProfilGruppen (PROF.B.SS), Nordic Semiconductor (NOD.NO), Olvi (OLVAS.FH)

        • UK: Bellway (BWY.LN), Abingdon Health (ABDX.LN), Nanoco (NANO.LN), Revolution Bars Group (RBG.LN)

      • Trading Update: X5 Retail Group (FIVE.LN), Jupiter Fund Management (JUP.LN), Ninety One (N91.LN), Integrafin (IHP.LN), flatexDEGIRO (FTK.GR), Mercialys (MERY.FP), Esker (ALESK.FP), Pierre & Vacances (VAC.FP), Sidetrade (ALBFR.FP)

  • Data:

    • Economics:

      • Eurozone Aug Trade Balance €6.7B vs cons €12.5B and prior €6.5B

      • Italy Sep CPI +5.3% y/y vs preliminary +5.3%; +0.2% m/m vs preliminary +0.2%

      • Norway Sep Trade Balance NOK45.6B vs consensus NOK62.4B and prior NOK61.4B

    • Markets:

      • WTI Crude (23-Nov): ($0.48) or (0.55%) to $87.21

      • €-$ +0.0036 or +0.34% to 1.0551

      • £-$ +0.0055 or +0.45% to 1.2196

      • €-£ (0.0006) to 0.8651

      • S&P 500 +1.03%

      • Performance year-to-date:

        • FTSE 100: +2.40%

        • DAX: +9.44%

        • CAC: +8.47%

        • MIB: +19.73%

        • Stoxx 600: +5.96%

This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
Please refer to "Terms Of Use".

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