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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.61% to 8634.80, DAX +1.70% to 22539.98, CAC40 +1.10% to 7876.36, STOXX 600 +1.07% to 539.64

Apr 01 ,2025

  • Synopsis:

    • European markets closed higher following broad weakness on Monday. Germany +1.7%, Spain +1.4% and Italy +1.3% lead outperformers, whilst Norway 0.1%, Belgium and the UK +0.6% lead underperformers.

    • Market seems to be in waiting mode for tomorrow's tariff announcements. Trump said he has settled on a plan, though latest reports continue to highlight multiple options. Some concern about lingering talk of a ~20% universal tariff. While this fits with Trump's longstanding desire to restructure global trade, it also dampens the potential for negotiations expected to follow the reciprocal levies. Uncertainty surrounding additional sectoral tariffs another overhang.

    • On data front, Eurozone headline inflation eased as expected, but core softer-than-forecast. Final euro area manufacturing PMI revised slightly lower, while UK reading revised up. Eurozone unemployment weaker than expected. UK Nationwide house price data showed a flat reading in March. Elsewhere, Bloomberg sources said April ECB decision still open. ECB report warns on impact of geopolitical risk on financial stability. BoE's Greene sounded concerned over wage growth and rising inflation expectations. France's Le Pen's five-year ban from public office generating a lot of headlines due to possible impact on stability of current government and next presidential race in 2027.

    • Light earnings releases today; out of the UK, Travis Perkins (TPK.LN), Serica Energy (SQZ.LN) and Greencore Group (GNC.LN) reproted before the open. In the pharma Nordics space, Bavarian Nordic A/S (BAVA.DC) received the FDA approval of freeze-dried Smallpox and Mpox vaccine, whilst Gubra (GUBRA.DC) announced positive GUBamy Phase 1 interim MAD results.

    • In M&A news, CaixaBank (CABK.SM) selected Apollo, KKR and Balbec Capital to bid for portfolio of non-performing mortgages worth €600M. Zurich Insurance Group (ZURN.SW) acquired a minority stake in Icen Risk to expand M&A coverage. Unilever (ULVR.LN) bought the personal care brand Wild and Fluidra (FSM) acquired a 27% stake in robotic cleaner player Aiper for $100M; also, Colruyt Group (COLR.BB) says it is investigating several strategic options for its French integrated retail activities.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 31-Mar to 04-Apr attached) Raspberry Pi Holdings (RPI.LN), Big Technologies (BIG.LN), Distribution Finance Capital Holdings (DFCH.LN), MAG Interactive (MAGI.SS), Dustin Group (DUST.LN), Synergie (SDG.FP), technotrans (TTR1.GR), Oberbank (OBS.AV), Spadel (SPA.BB), Celyad Oncology (CYAD.BB) will be among other names to update investors, whilst the macro-calendar releases will include Spain Mar unemployment change, Ireland Mar unemployment rate.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Technology +1.70%, Ind Goods & Svcs +1.55%, Banks +1.55%, Retail +1.21%, Basic Resources +1.21%, Telecom +1.15%, Insurance +1.15%, Autos & Parts +1.13%,

      • Underperformers:

        • Media (0.03%), Oil & Gas +0.11%, Food & Beverage +0.47%, Utilities +0.57%, Travel & Leisure +0.58%, Health Care +0.74%, Persnl & HHold Goods +0.87%, Construct & Mtls +0.89%, Chemicals +0.93%, Real Estate +0.99%, Financial Svcs +1.03%,

    • Macro/Peripheral markets:

      • Geopolitics

        • Russia says it cannot accept U.S. proposals on Ukraine 'in current form' - Reuters

        • World braces for US auto and reciprocal duties - Reuters

      • Central Banks

        • BOE's Greene Says Rates Should Continue to Restrain UK Economy - Bloomberg

      • EU

        • Brussels doubles amount of EU cash available for affordable housing - Politico

        • EU has a 'strong plan' to retaliate on Trump tariffs, says von der Leyen - The Guardian

      • UK

        • UK will take calm approach to US tariffs, PM says - BBC

        • Trump tariffs 'risk wiping out Reeves's £10bn headroom' - The Telegraph

        • Donald Trump signs off Chagos Islands deal between UK and Mauritius - FT

      • France

        • Bardella to fight alongside Le Pen 'to the end,' won't comment on replacing her - Politico

        • Le Pen's party chief calls on French people to rally against election ban - Reuters

      • Germany

        • Union is one percentage point ahead of the AfD according to the survey - Handelsblatt

        • Companies in Germany hold on to staff despite recession - Handelsblatt

        • Germany's Lower Saxony state premier to resign, say sources - Reuters

      • Italy

        • US-Italy, Vice President Vance schedules a meeting in Rome with Meloni - ilsole24ore

      • Portugal

        • Portugal's ruling alliance extends lead in poll before May 18 election - Reuters

        • Portugal to Change Public Procurement Rules for Defense Orders - Bloomberg

      • Finalnd

        • Finland to exit landmines treaty, hike defence spending given Russia threat, PM says - Reuters

    • Company news:

      • Trading Higher:

        • +15.3% MBTN.SW (Meyer Burger Technology CHF2.13, +0.29) -- signs module supply agreement for Italy with OGT Solar

        • +12.6% ONCO.SS (Oncopeptides SEK1.68, +0.19) -- FDA lifts clinical hold previously placed on Oncopeptides' next-gen drug OPD5

        • +8.2% SQZ.LN (Serica Energy £1.45, +0.11) -- FY earnings

        • +7.8% 2GB.GR (2G Energy €26.40, +1.90) -- prelim FY earnings

        • +6.8% BONEX.SS (BONESUPPORT HOLDING SEK311.80, +20.00) -- submits FDA market authorization application for its antibiotic eluting bone graft substitute, CERAMENT V

        • +6.0% ALSN.SW (ALSO Holding CHF255.50, +14.50) -- initiated buy at UBS

        • +5.8% GNC.LN (Greencore Group £1.79, +0.10) -- Q2 trading update

        • +3.6% EXA.FP (Exail Technologies €38.80, +1.35) -- order

        • +3.4% ENAV.IM (ENAV €3.77, +0.12) -- FY earnings

        • +3.4% SPI.LN (Spire Healthcare Group £1.83, +0.06) -- acquires Acorn Occupational Health Limited for £3.3M

        • +3.1% FNAC.FP (Fnac Darty €28.65, +0.85) -- initiated outperform at BNP Paribas Exane

        • +2.3% ADVN.SW (Adval Tech Holding CHF68.00, +1.50) -- Chair to step down

        • +2.3% BAVA.DC (Bavarian Nordic A/S DKK153.20, +3.40) -- receives U.S. FDA approval of freeze-dried Smallpox and Mpox vaccine

        • +2.2% SU.FP (Schneider Electric €215.80, +4.60) -- HSBC upgrade

        • +2.2% TUI1.GR (TUI Group €6.45, +0.14) -- initiated buy at Hauck & Aufhäuser

        • +1.8% SBO.NO (Selvaag Bolig NOK36.60, +0.65) -- Q1 update

        • +1.5% AKSO.NO (Aker Solutions NOK34.22, +0.50) -- contract

      • Trading Lower:

        • -32.0% ALMKT.FP (Mauna Kea Technologies €0.12, -0.05) -- announces opening of safeguard proceeding to restructure financial liabilities; enters into exclusive negotiations for a licensing agreement for Cellvizio

        • -30.3% ALMCP.FP (McPhy Energy €0.60, -0.26) -- FY earnings; updates on financial situation and cash runway

        • -18.0% BMK.LN (Benchmark Holdings £0.21, -0.05) -- completes the disposal of the genetics business

        • -9.3% TPK.LN (Travis Perkins £4.99, -0.51) -- FY earnings

        • -6.5% DOC.AV (DO & CO €150.00, -10.60) -- Kepler Cheuvreux downgrade

        • -6.4% CLI.LN (CLS Holdings £0.66, -0.04) -- FY earnings

        • -2.7% CBG.LN (Close Brothers Group £2.70, -0.08) -- transferred hold at Peel Hunt

        • -2.5% GMAB.DC (Genmab DKK1,306.00, -34.00) -- Bernstein downgrade

        • -2.4% SBRY.LN (J Sainsbury £2.30, -0.06) -- BNP Paribas Exane downgrade

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Spadel (SPA.BB), Celyad Oncology (CYAD.BB)

        • DACHs: technotrans (TTR1.GR), Oberbank (OBS.AV)

        • France: Synergie (SDG.FP)

        • Nordics: MAG Interactive (MAGI.SS), Dustin Group (DUST.LN)

        • UK: Raspberry Pi Holdings (RPI.LN), Big Technologies (BIG.LN), Distribution Finance Capital Holdings (DFCH.LN)

      • Trading Update: Topps Tiles (TPT.LN), Moscow Exchange MICEX-RTS (MOEX.RU), Volvo Car (VOLCAR.B.SS)

      • CMD/events: Nokia (NOKIA.FH) executive briefing at OFC 2025, FACC (FACC.AV)

  • Data:

    • Economics:

      • Mar preliminary CPI

        • Austria +2.9% y/y vs consensus +3.1% and prior +3.2%

        • Netherlands +3.7% y/y vs consensus +4.2% and prior +3.8%

        • Eurozone +2.2% y/y vs consensus +2.2% and prior +2.3%

      • Mar Manufacturing PMI

        • Spain 49.5 vs consensus 50.0 and prior 49.7

        • Switzerland 48.9 vs consensus 49.8 and prior 49.6

        • Italy 46.6 vs consensus 48.0 and prior 47.4

        • France 48.5 vs preliminary 48.9

        • Germany 48.3 vs preliminary 48.3

        • Eurozone 48.6 vs preliminary 48.7

        • Norway 50.6 vs consensus 52.0 and prior 51.9

        • UK 44.9 vs preliminary 44.6

        • Sweden 53.6 vs consensus 52.0 and prior 53.5

      • Eurozone Feb Unemployment Rate 6.1% vs consensus 6.2% and prior 6.2%

      • UK Mar Nationwide House Price Index +3.9% y/y vs consensus +3.8% and prior +3.9%

      • Switzerland Feb Retail Sales +1.6% y/y vs consensus +1.5% and prior revised +2.9% from +1.3% (earlier, 2:30 ET)

      • Italy Feb Unemployment Rate 5.9% vs consensus 6.3% and prior revised 6.2% from 6.3%

      • Greece

        • Mar business expectations in industry index 112.4 vs prior 110.0 and year-ago 111.9 - IOBE

        • Feb Unemployment Rate 8.6% vs consensus 8.8% and prior revised 9.1% from 8.7%

    • Markets:

      • WTI Crude (May 25): +$0.07 or +0.10% to $71.55

      • €-$ (0.0013) or (0.12%) to 1.0803

      • £-$ +0.0004 or +0.03% to 1.2921

      • €-£ (0.0012) to 0.8361

      • S&P 500 +0.29%

      • Performance year-to-date

        • FTSE 100: +5.65%

        • DAX: +13.21%

        • CAC: +6.72%

        • MIB: +12.79%

        • Stoxx 600: +6.31%

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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