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StreetAccount Summary - EU Market Recap: FTSE 100 (0.34%) to 8122.36, DAX (0.38%) to 19909.14, CAC40 (0.59%) to 7312.32, STOXX 600 (0.46%) to 504.85

Dec 30 ,2025

  • Synopsis:

    • European equity markets closed lower with pan-European indices off session lows. Denmark (1.5%) followed by Belgium (1.0%) and Netherlands (0.9%) led underperformers whilst Austria +0.9%, Spain and Switzerland both up +0.1% led outperformers.

    • Dearth of notable market themes as activity winds down into year-end. Markets digesting 2024 performance and looking ahead to 2025 themes. Regional narrative has been downbeat of late with growth concerns and trade tensions weighing on outlook, though markets on course for healthy gains for the year. DAX, Italy's MIB and Spain's IBEX posted double-digits gains on the year, while CAC negative due to political uncertainty. UK's FTSE 100 also lagging Eurozone's leading benchmarks with gains of ~5%+. Recent press reports continue to highlight uncertainty business surrounding Trump tariffs. Additionally, some uncertainty also surrounding on central bank policy and impact of tariffs on inflation.

    • Focus also on gas supply developments in Europe as gas prices posted ~45% gain year as continent braces for 1-Jan-25 termination of Ukraine-Russia gas transit agreement (Bloomberg, Bloomberg). Timing particularly challenging as cold weather forecasts and faster-than-normal storage depletion threaten supply stability. While Russian flows through Ukraine represent ~5% of Europe's needs, loss could significantly impact prices, with traders estimating increases of up to €10/MWh. Slovakia PM Fico warned this could cost European households and businesses an additional €40-50B annually for gas and €60-70B for electricity (Reuters).

    • From a macroeconomic calendar perspective, Spanish preliminary inflation data surprised on the upside. Comes ahead of Eurozone update next week. Euro area reading forecast to see pickup in headline, but softer core and services prices. Big miss in Swiss KOF leading indicator and downward revision in prior update. Limited UK updates. The London Times newspaper reported that the Lloyds Bank's latest Business Barometer showed businesses optimistic about revenues and hiring in 2025

    • Corporate new flow remained light and included Novartis (NOVN.SW) phase III STEER study of OAV101 IT meeting primary endpoint. Also in pharma sector, Roche (ROG.SW) CEO Thomas Schinecker told NZZ am Sonntag that the company is not planning to cut jobs. In other corporate developments, BayWa (BYW6.GR) agreed on restructuring, will raise €150M and sells its stake in RWA Raiffeisen Ware Austria for €176M. Further on M&A front, TXT e-Solutions (TXT.IM) completed the acquisition of a 84.1% stake in Webgenesys SpA. STRABAG SE (STR.AV) signed final agreement to acquire Georgiou Group Pty Ltd for ~ €140M.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers

        • Oil & Gas +0.28%, Banks +0.25%, Utilities +0.07%, Travel & Leisure +0.03%, Autos & Parts (0.09%), Insurance (0.22%), Telecom (0.25%), Construct & Mtls (0.28%), Real Estate (0.37%), Financial Svcs (0.38%), Food & Beverage (0.45%)

      • Underperformers

        • Technology (1.44%), Media (0.88%), Persnl & HHold Goods (0.73%), Health Care (0.68%), Basic Resources (0.64%), Ind Goods & Svcs (0.63%), Retail (0.54%), Chemicals (0.50%)

    • Macro/Peripheral markets:

      • Europe

        • Europe's emerging centers of power - Politico

      • Geopolitics

        • Finnish investigators say Baltic Sea cable damage involved Russia-linked vessel - Euronews

      • UK

        • TUC's Nowak says UK PM Starmer must make 2025 a "year of delivery" for workers - FT

        • Retail sector job losses +41.9% y/y data from Centre for Retail Research shoes - Sky News

        • Labour's £8,000 tax hike on middle-class families sparks "January of discontent" fears - Telegraph

        • UK and EU look to 2025 for reset, but with little room for trade-offs - BBC

      • France

        • New finance minister targets 5%+ budget deficit to protect growth - Reuters

      • Germany

        • Bundestag election opinion polls

          • CDU/CSU 28%, AfD 18%, SPD 18%, Greens 15.5% - WK

          • CDU/CSU 31%, AfD 20%, SPD 17%, Greens 12% - INSA for BILD am Sonntag

        • Heat pump sales surge in Germany on fears conservatives will scrap subsidies - FT

      • Greece

        • PM Mitsotakis outlines priorities for new year - ekathomerini

      • Italy

        • 2025 budget receives final parliamentary approval - Reuters

      • Ireland

      • Netherlands

        • Dutch tax system needs major overhaul, says central bank chief - dutchnews.nl

    • Company news:

      • Notable Gainers

        • +17.0 BYW6.GR (BayWa) -- agreed on restructuring

        • +2.6% MIO.ID (Mincon Group) -- holder Invest fur Langfristige Investoren has sold its entire 8.87% shareholding in the company; Rentrop Investment Office acquires most of the stake

        • +2.4% NYKD.NO (Nykode Therapeutics) -- announces streamlining of its board of directors

        • +0.6% HEX.NO (Hexagon Composites) -- receives order for Mobile Pipeline TITAN 450 modules from a premier Oilfield service company

      • Notable Decliners

        • -2.2% EZE.SM (Grupo Ezentis) -- awarded new contracts valued at > €1.5M in Q4; announces rebranding and changes in operations processes

        • -1.0% GUBRA.DC (Gubra A/S) -- announces new collaboration with Amylyx pharmaceuticals to develop a novel long-acting GLP-1 receptor antagonist

    • EU companies reporting tomorrow:

      • No earnings scheduled

  • Data:

    • Economics:

      • Switzerland Dec KOF leading indicators 99.5 vs consensus 101.1, prior revised 102.9 from 101.8 - release

      • Spain Dec preliminary CPI +2.8% y/y vs consensus +2.6%, prior +2.4%; +0.4% m/m vs consensus +0.3%, prior +0.2%

      • Greece Nov PPI (1.2%) y/y vs consensus (0.8%), prior (2.3%)

      • Portugal Nov Preliminary CPI +3.0% y/y vs consensus +2.6% and prior +2.5%

    • Markets:

      • WTI Crude (Feb 25): +$0.70 or +0.99% to $71.30

      • €-$ (0.0049) or (0.47%) to 1.0384

      • £-$ (0.0061) or (0.48%) to 1.2519

      • €-£ +0.0003 to 0.8297

      • S&P 500 (1.07%)

      • Performance year-to-date

        • FTSE 100: +5.03%

        • DAX: +18.85%

        • CAC: (3.06%)

        • MIB: +12.57%

        • Stoxx 600: +5.40%

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.
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