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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.09% to 8415.25, DAX +0.81% to 22242.45, CAC40 +0.45% to 7536.26, STOXX 600 +0.35% to 520.45

Apr 25 ,2025

  • Synopsis:

    • European equity markets closed mostly higher following three consecutive gains. Construction names, industrials and travel/leisure the best performing sectors, while miners and Food & Beverage lag.

    • Markets taking encouragement from White House's trade and Fed off-ramps. When it comes to trade, more hints that US-China tensions may have peaked with report China to exempt some US products from its 125% tariff. In addition, Bessent signaled progress in trade talks with South Korea and said the two sides could reach an "agreement of understanding" as early as next week. Nothing really new on the Fed front after Trump said earlier this week he has no plans to fire Powell, though latest report discussed how the damage may already be done given the risks for the next Fed chair's credibility. Earnings calendar remains a tailwind for risk sentiment in the US with GOOGL the latest high-profile reporter out with well-received results.

    • Speaking at G20 meeting in Washington on Thursday, BOJ Governor Ueda maintained rate hikes will continue if underlying inflation is tracking towards 2% target. Nothing substantive out of FX talks between Japan and US on Thursday. BoE Governor Bailey warned UK risks higher inflation if government retaliates against US tariffs.

    • On macro data front, focus in Europe on UK retail sales beating expectations, but latest consumer confidence data shows deterioration in sentiment. French business climate survey remains weak in April. Elsewhere, UK press reports that UK could scrap plans to send troops to Ukraine because of the risk of a wider conflict if a ceasefire deal with Russia broke down.

    • On a busy reporting calendar, Safran (SAF.FP), Michelin SA (ML.FP), Saint Gobain (SGO.FP), Accor (AC.FP), Carrefour (CA.FP) and Vinci (DG.FP) were among several other French names to update investors whilst - in the DACH region - Holcim (HOLN.SW), Nordex (NDX1.GR) and Palfinger (PAL.AV) reported before the open.

    • In the Nordics, Saab (SAAB.B.SS), SKF (SKF.B.SS), Kemira (KEMIRA.FH), Yara International (YAR.NO), Stora Enso (STERV.FH), Boozt Fashion (BOOZT.SS) and Trelleborg (TREL.B.SS) reported their most recent numbers. Elsewhere, Signify (LIGHT.NA) and IMCD (IMCD.NA) posted Q1 numbers.

    • In M&A, Reuters sources said Spain's CMMC expected to approve BBVA (BBVA.SM) acquisition of Banco de Sabadell (SAB.SM) as soon as next week with concessions; EU sets provisional deadline of 4-Jun to rule on UniCredit's (UCG.IM) acquisition of Banco BPM (BAMI.IM). FT reports European Commission set to probe Universal's (UMG.NA) planned acquisition of Downtown Music. Mobico Group (MCG.LN) to sell its North America School Bus business to I Squared Capital for enterprise value of up to $608M (~£457M). Merck KGaA (MRk.GR) confirms late-stage discussions with SpringWorks Therapeutics (SWTX) on potential acquisition at basis price of ~$47/sh.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 28-Mar to 02-May attached) Deutsche Börse (DB1.GR), Porsche (P911.GR), TRATON (8TRA.GR), Wihlborgs Fastigheter (WIHL.SS), Galp Energia (GALP.PL), Schneider Electric (SU.FP) and Vivendi (VIV.FP) will be among other names to update investors, whilst the macro-calendar releases will includeSpain Q1 unemployment rate, Mar retail sales, Denmark Mar retail sales, Norway Mar unemployment rate, Sweden Mar PPI, UK Apr distributive trades - CBI.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Construct & Mtls +1.78%, Travel & Leisure +1.34%, Ind Goods & Svcs +1.28%, Banks +1.26%, Autos & Parts +1.04%, Oil & Gas +0.98%, Financial Svcs +0.74%, Chemicals +0.73%, Technology +0.61%, Retail +0.36%,

      • Underperformers:

        • Telecom (1.62%), Food & Beverage (1.54%), Persnl & HHold Goods (0.67%), Utilities (0.41%), Basic Resources (0.39%), Real Estate (0.34%), Health Care (0.08%), Insurance +0.22%, Media +0.33%,

    • Macro/Peripheral markets:

      • Geopolitics

        • Senior Russian military officer killed in car bomb near Moscow - Politico

        • Putin welcomes Trump envoy with open arms - The Telegraph, FT

      • Central Banks

        • Swiss National Bank warns of economic fallout from trade conflict - Reuters

        • Russia Holds Key Rate as Nabiullina Vows to Curb Inflation - Bloomberg

        • BOE Scraps Projects and Dividend to Tackle Strained Finances - Bloomberg

        • ECB's Lagarde Sees Euro-Area Inflation Hovering Around 2% Target - Bloomberg

      • EU

        • Nato's Rutte calls for 'quantum leap' as Europe boosts defence investment - Reuters

        • IMF Warns Europe Not to Block 'Inevitable Structural Change' - Bloomberg

        • UK must pay to join EU defence fund, says Brussels - FT

      • UK

        • Reeves suggests UK trade with EU more important than US - BBC

        • No10 refuses to back Reeves's claim that EU more important than US - The Telegraph

        • Reform UK on course to win in two mayoral contests - The Guardian

        • Starmer faces Labour revolt over plan to raid bank accounts of benefit claimants - The Guardian

      • France

        • Child abuse scandal engulfs French prime minister - FT

        • EDF's new UK plants should be negotiated as one, French energy minister says - FT

      • Poland

        • Poland likely to apply for EU leeway on defence spending, but worried others won't - Reuters

      • Germany

        • East Germany loses thousands of car jobs - the AfD wins - Handelsblatt

    • Company news:

      • Trading Higher:

        • +13.9% ADXN.SW (Addex Therapeutics CHF0.06, +0.01) -- FY earnings

        • +11.6% GRNG.SS (Gränges SEK116.90, +13.00) -- Q1 earnings

        • +10.4% NANO.LN (Nanoco Group £0.09, +0.01) -- commences patent infringement lawsuit against LG Electronics

        • +10.4% SCHP.FP (Seche Environnement €80.10, +8.20) -- Q1 revenue

        • +9.9% CTT.SS (CTT Systems SEK192.34, +18.45) -- Q1 earnings

        • +8.8% HEIJM.NA (Heijmans €40.48, +3.54) -- Q1 trading update

        • +8.1% MAP.SM (MAPFRE €3.12, +0.24) -- Q1 earnings; raises the ambition of its strategic plan

        • +7.8% IMCD.NA (IMCD €117.90, +8.70) -- Q1 earnings

        • +7.6% BEIA.B.SS (Beijer Alma SEK184.40, +13.80) -- Q1 earnings

        • +6.2% AC.FP (Accor €42.73, +2.53) -- Q1 revenue

        • +5.6% KCR.FH (Konecranes €56.40, +3.10) -- Danske Bank upgrade

        • +4.9% SGO.FP (Compagnie de Saint-Gobain €93.40, +4.44) -- Q1 revenue

        • +4.9% ATEA.NO (Atea NOK140.80, +6.60) -- DnB Markets upgrade

        • +4.9% DHER.GR (Delivery Hero €26.13, +1.22)

        • +4.8% PDX.SS (Paradox Interactive SEK185.70, +8.60) -- Danske Bank and Handelsbanken upgrade

        • +4.6% ALIF.B.SS (AddLife SEK169.70, +7.30) -- Q1 earnings

        • +4.3% SAF.FP (Safran €228.60, +9.50) -- Q1 revenue

        • +4.2% MGN.NO (Magnora NOK22.45, +0.90) -- Q1 earnings

        • +3.9% RWS.LN (RWS Holdings £0.67, +0.03) -- CEO acquires 1M shares at 67.90p/share

        • +3.7% YAR.NO (Yara International NOK339.50, +12.20) -- Q1 earnings

        • +3.7% ACOMO.NA (ACOMO NV €22.10, +0.80) -- Q1 trading update

        • +3.0% CRH.LN (CRH plc £69.26, +2.06) -- initiated overweight at Morgan Stanley

        • +3.0% UMI.BB (Umicore €8.44, +0.25) -- Q1 update

        • +2.2% LIFCO.B.SS (Lifco SEK364.60, +8.00) -- Q1 earnings

      • Trading Lower:

        • -40.6% MCG.LN (Mobico Group £0.49, -0.24) -- to sell its North America School Bus business to I Squared Capital for enterprise value of up to $608M

        • -40.0% AGAS.NO (Avance Gas Holding NOK4.61, -2.20) -- Q1 earnings

        • -18.3% BOOZT.SS (Boozt Fashion SEK85.80, -18.00) -- Q1 earnings

        • -17.2% NCAB.SS (NCAB Group SEK41.14, -8.08) -- withdraws dividend proposal; Q1 earnings

        • -15.1% ATE.FP (Alten €73.90, -12.50) -- Q1 revenue

        • -15.0% BHG.SS (Lightshop SEK22.56, -3.88) -- Q1 earnings

        • -13.9% ANOD.B.SS (Addnode Group SEK88.60, -13.90) -- Q1 earnings

        • -10.5% ALLIGO.B.SS (Alligo SEK110.80, -12.60) -- Q1 earnings

        • -9.3% KEMIRA.FH (Kemira €17.39, -1.85) -- to implement 5% trade surcharge in United States; Q1 earnings

        • -7.8% NMAN.SS (Nederman Holding SEK177.20, -14.20) -- Q1 earnings

        • -6.2% INDT.SS (Indutrade SEK260.60, -17.00) -- Q1 earnings

        • -5.1% SALM.NO (Salmar NOK515.50, -27.00) -- Arctic Securities downgrade

        • -5.1% BALN.SW (Baloise CHF182.00, -10.00) -- Patria Genossenschaft acquires ~4.3M company shares from Cevian Capital

        • -4.8% DTE.GR (Deutsche Telekom €31.53, -1.58)

        • -4.3% MYCR.SS (Mycronic SEK366.20, -16.20) -- Q1 earnings

        • -4.3% DIGIA.FH (Digia €6.36, -0.28) -- Q1 earnings

        • -4.2% MOWI.NO (Mowi NOK189.00, -8.10) -- Arctic Securities downgrade

        • -2.7% MSON.B.SS (Midsona SEK9.50, -0.26) -- Q1 earnings

        • -2.5% SAA.LN (M&C Saatchi £1.59, -0.04) -- initiated buy at Singer Capital Markets

        • -2.3% IDR.SM (Indra Sistemas €26.46, -0.64) -- Indra Sistemas considering merger with Escribano - Expansion; Alantra Equities upgrade

        • -2.1% KIT.NO (Kitron NOK48.78, -1.07) -- Arctic Securities downgrade

        • -2.1% SCA.B.SS (Svenska Cellulosa SEK129.20, -2.70) -- Q1 earnings

        • -2.0% DUNI.SS (Duni SEK92.90, -1.90) -- Q1 earnings

    • EU companies reporting Monday:

      • Earnings:

        • DACHs: Deutsche Börse (DB1.GR), Porsche (P911.GR), TRATON (8TRA.GR), Logwin (TGHN.GR), The Platform Group (TPG.GR), STRABAG (STR.AV)

        • France: Imerys (NK.FP)

        • Nordics: Wihlborgs Fastigheter (WIHL.SS), Wallenstam (WALL.B.SS), Catena (CATE.SS), Volati (VOLO.SS), Fagerhult Group (FAG.SS), VBG Group (VBG.B.SS), Hexatronic Group (HTRO.SS), Eastnine (EAST.SS), IAR (IAR.B.SS), Bulten (BULTEN.SS), Softronic (SOF.B.SS), Balco Group (BALCO.SS), Boule Diagnostics (BOUL.SS)

        • Southern Europe: Galp Energia (GALP.PL), Unicaja Banco (UNI.SM), Viscofan (VIS.SM), Jumbo (BELA.GA)

        • UK: Elixirr International (ELIX.LN)

        • Other: Sberbank Russia (SBER.RU)

      • Trading Update:

        • Benelux: Theon International (THEON.NA)

        • France: Schneider Electric (SU.FP), Vivendi (VIV.FP), Mercialys (MERY.FP), Lumibird (LBIRD.FP), Nacon (NACON.FP)

        • Southern Europe: Puig Brands (PUIG.SM)

      • CMD/events: Metlen Energy & Metals (MYTIL.GA), Hansa Biopharma (HNSA.SS) business update call

  • Data:

    • Economics:

      • UK Mar Retail Sales +2.6% y/y vs consensus +1.8% and prior +2.2%; +0.4% m/m vs consensus (0.3%) and prior revised +0.7% from +1.0%

      • France Apr Business Survey 99 vs consensus 96 and prior 96

    • Markets:

      • WTI Crude (Jun 25): +$0.06 or +0.10% to $62.85

      • €-$ (0.0017) or (0.15%) to 1.1373

      • £-$ (0.0025) or (0.19%) to 1.3315

      • €-£ +0.0002 to 0.8541

      • S&P 500 (0.11%)

      • Performance year-to-date

        • FTSE 100: +2.96%

        • DAX: +11.72%

        • CAC: +2.11%

        • MIB: +9.25%

        • Stoxx 600: +2.53%

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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