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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.27% to 8554.80, DAX +0.63% to 23499.32, CAC40 +0.64% to 7743.75, STOXX 600 +0.44% to 537.96

May 09 ,2025

  • Synopsis:

    • European equity markets ended broadly higher on Friday. Trade continues to dominate the headlines with more reports about the potential for US-China tariff de-escalation following weekend talks in Switzerland. However, while recent reports suggested US could lower China tariffs below 60% as part of opening move, Trump this morning said 80% seems right. while NEC director Hassett said 24 other deals close to resolution. .

    • Markets also reacted positively to US-UK trade agreement, though less certain is whether that agreement serves as model for other countries. UK press commentary was mixed. Some disappointment on narrow scope of the agreement and raised doubts on legal issues and whether it was aligned with WTO rules.

    • Among European sectors, Energy outperformed, ~+2%, with oil prices higher amid some signs of tariff de-escalation. WTI Crude (Jun 25): +1.19% to $60.62. Integrateds were higher across the board led by BP (BP.LN) as FT reported the company is vulnerable to takeover amid sliding share price; Shell, Chevron, ExxonMobil, TotalEnergies and Adnoc have all run the numbers, according to the report. Banks in focus with Commerzbank (CBK.GR) and Mediobanca (MB.IM) reporting better than expected Q1 results. Travel & Leisure underperformed, with weakness in Hotel stocks. Melia Hotels (MEL.SM) reported Q1 results below expectations. Airlines mostly lower but IAG (IAG.LN) bucked the trend amid strong set of Q1 numbers, beating street consensus. Order for 53 new Airbus and Boeing widebody aircraft also in focus. Among other Stoxx Europe 600 names that reported earnings/updates and saw positive reactions were Bavarian Nordic (BAVA.DC), Sonova (SOON.SW), EDP (EDP.PL) and ENEL (ENEL.IM), while the likes of Campari (CPR.IM),

    • The week ahead sees Eurogroup meeting, OPEC / IEA monthly reports, meeting of the European Political Community, Germany May ZEW survey, UK Apr claimant count change as well as earnings/updates from the likes of Allianz (ALV.GR), Burberry Group (BRBY.LN), Deutsche Telekom (DTE.GR), ENGIE (ENGI.FP), Richemont (CFR.SW), Siemens (SIE.GR) and UniCredit (UCG.IM). In the latter part of the week, there maybe the release of the EU Commission's latest economic forecasts.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Energy+1.97%, Health Care +0.90%, Autos & Parts +0.84%, Consumer Products and Services +0.84%, Banks +0.83%, Basic Resources +0.79%, Chemicals +0.61%

      • Underperformers:

        • Travel & Leisure (0.37%), Ind Goods & Svcs (0.24%), Insurance (0.09%), Food, Beverage and Tobacco (0.09%), Financial Svcs +0.14%, Media +0.18%, Technology +0.24%, Personal Care Drug and Grocery Stores +0.30%, Construct & Mtls +0.32%, Telecom +0.33%, Real Estate +0.34%, Utilities +0.41%

    • Macro:

      • EU's von der Leyen: Will only go to the White House to negotiate a tariffs solution -- Reuters

      • EU and Ukraine launch special tribunal to prosecute Putin's war crimes -- POLITICO

      • Bailey Defends Bank of England Splits in Era of Trump Volatility -- Bloomberg

      • Germany's new economy boss has a plan - and it starts with risk, speed and big bets -- CNBC

      • Swiss Hold Constructive US Trade Talks, Hope to Follow UK Deal -- Bloomberg

      • Portuguese centre-right in lead before election but short of majority, poll shows -- Reuters

    • Company news:

      • Notable Gainers

        • +30.8% RAY.B.SS (RaySearch Laboratories SEK314.50, +74.00) -- Q1 earnings

        • +20.3% MEDI.NO (MediStim NOK195.50, +33.00) -- Q1 earnings

        • +11.3% CAU.LN (Centaur Media £0.30, +0.03) -- confirms in discussion with Brave Bison Group plc regarding potential disposal of MiniMBA

        • +9.0% SOLAR.B.DC (Solar DKK298.00, +24.50) -- Q1 earnings

        • +7.5% ALPHA.GA (Alpha Services & Holdings €2.44, +0.17) -- Q1 earnings

        • +6.6% TPK.LN (Travis Perkins £6.22, +0.39) -- appoint new CEO

        • +6.2% BAVA.DC (Bavarian Nordic A/S DKK164.70, +9.60) -- Q1 earnings

        • +5.3% DURC.B.SS (Duroc SEK16.00, +0.80) -- Q3 earnings

        • +4.7% BP.LN (BP £3.72, +0.17) -- BP vulnerable to takeover amid sliding share price; Shell, Chevron, ExxonMobil, TotalEnergies and Adnoc have all run the numbers - FT

        • +4.6% ATORX.SS (Alligator Bioscience SEK4.15, +0.18) -- study update

        • +4.3% DIGIA.FH (Digia €6.82, +0.28)

        • +4.3% TGS.NO (TGS-NOPEC Geophysical Co. NOK82.80, +3.45) -- Q1 earnings

        • +3.9% CBK.GR (Commerzbank €25.24, +0.94) -- Q1 earnings

        • +3.9% PTEC.LN (Playtech £3.33, +0.13) -- resumed buy at Jefferies

        • +3.5% STMPA.FP (STMicroelectronics €21.24, +0.71)

        • +3.4% SOON.SW (Sonova Holding CHF261.20, +8.60) -- FY earnings; CEO to step down

        • +3.3% BAKK.LN (Bakkavor Group £1.88, +0.06) -- Greencore's PUSU deadline extended

        • +3.0% GF.SW (Georg Fischer CHF62.70, +1.80) -- to acquire the VAG Group for ~ CHF 200M

        • +2.9% GREEN.SS (Green Landscaping Group SEK64.60, +1.80) -- acquires 100% of Wagner Straßen-, Tief- & Rohrleitungsbau GmbH

        • +2.8% BPOST.BB (bpost €1.40, +0.04) -- Q1 earnings

        • +2.8% EDP.PL (EDP-Energias de Portugal €3.28, +0.09) -- Q1 earnings

        • +2.6% OBD.LN (Oxford BioDynamics £0.00, -0.00) -- Oxford Lab accredited by UKAS

        • +2.4% KRN.GR (Krones €137.60, +3.20) -- Q1 earnings

        • +1.9% BESI.NA (BE Semiconductor Industries €108.15, +2.05) -- initiated overweight at JPMorgan

        • +1.7% ITM.LN (ITM Power £0.36, +0.01) -- contract

        • +1.1% SAN.SM (Banco Santander €6.64, +0.08) -- Banco Santander rejected £11B bid from NatWest for UK unit -- FT

        • +0.3% PROX.BB (Proximus €6.53, +0.02) -- Q1 earningsx

      • Notable Decliners

        • -9.9% SHI.LN (SIG £0.16, -0.02) -- CEO steps down

        • -8.1% LOG.SM (Logista Integral €28.26, -2.50) -- H1 earnings

        • -8.1% BRNL.NA (Brunel International €8.91, -0.79) -- Q1 earnings

        • -7.5% NKT.DC (NKT A/S DKK509.00, -41.50) -- Q1 earnings

        • -6.7% CAT.B.SS (Catella SEK32.60, -2.35) -- Q1 earnings

        • -5.8% ORK.NO (Orkla NOK111.40, -6.80) -- Q1 earnings

        • -3.7% EMSN.SW (EMS-Chemie Holding CHF581.50, -22.50) -- Berenberg downgrade

        • -3.3% CLNX.SM (Cellnex Telecom €33.37, -1.13) -- Q1 earnings

        • -3.1% MTHH.DC (MT Hojgaard Holding DKK263.50, -8.50) -- Q1 earnings

        • -2.9% GSC1.GR (GESCO SE €17.00, -0.50) -- Q1 earnings

        • -2.7% CPR.IM (Davide Campari-Milano €5.89, -0.16) -- Q1 earnings

        • -2.0% NVG.PL (The Navigator Co. €3.30, -0.07) -- Q1 earnings

        • -1.8% CAPMAN.FH (Capman €1.83, -0.03) -- Q1 earnings

        • -1.5% OCI.NA (OCI NV €7.41, -0.11) -- Citi downgrade

        • -1.4% MEL.SM (Melia Hotels International €6.34, -0.09) -- Q1 earnings

        • -1.3% SIFG.NA (Sif Holding €9.35, -0.12) -- Q1 trading update

        • -0.4% RKT.LN (Reckitt Benckiser £48.73, -0.20) -- Reckitt's sale of Air Wick at risk; Apollo reportedly fails to submit offer - FT

    • EU companies reporting Monday:

      • Earnings:

        • DACHs: Hochtief (HOT.GR), Evonik Industries (EVK.GR), IONOS Group (IOS.GR), United Internet (UTDI.GR), 1&1 (1U1.GR), Hypoport (HYQ.GR), Salzgitter (SZG.GR), Biotest (BIO.GR), adesso (ADN1.GR), ProCredit Holding (PCZ.GR), JDC Group (JDC.GR), q.beyond (QBY.GR)

        • France: Cellectis (ALCLS.FP)

        • Nordics: NTG Nordic Transport Group (NTG.DC), Aspo (ASPO.FH)

        • Southern Europe: UniCredit (UCG.IM), Reply (REY.IM), Fincantieri (FCT.IM), Pharmanutra (PHN.IM), Acinque (AC5.IM), The Italian Sea Group (TISG.IM), Valsoia (VLS.IM), Grifols (GRF.SM), Minor Hotels Europe & Americas (NHH.SM), Almirall (ALM.SM), Vocento (VOC.SM)

        • UK: Victrex (VCT.LN)

        • Other: Bank of Cyprus Holdings (BOCH.CY)

      • Trading Update:

        • Benelux: Alfen (ALFEN.NA)

        • DACHs: Tecan (TECN.SW)

        • France: Equasens Group (EQS.FP), Oeneo (SBT.FP)

        • UK: Diversified Energy Co. (DEC.LN)

  • Data:

    • Economics:

      • Netherlands Mar Manufacturing Production (0.6%) m/m vs consensus (1.1%) and prior revised +0.9% from +1.2%

      • Italy Mar Industrial Production (1.8%) y/y vs consensus (1.6%) and prior revised (2.6%) from (2.7%)

      • Switzerland Apr SECO Consumer Sentiment (42.4) vs consensus (34.0) and prior (34.8)

      • Denmark Mar Trade Balance DKK27.2B vs consensus DKK22.4B and prior revised DKK25.3B from DKK25.7B

      • Norway

        • Apr PPI +2.1% y/y vs consensus +10.0% and prior +11.5%

        • Apr CPI +2.5% y/y vs consensus +2.5% and prior +2.6%

      • Greece

        • Apr CPI +2.0% y/y vs consensus +2.3% and prior +2.4%

        • Mar Industrial Production +1.7% y/y vs consensus +0.8% and prior revised +6.0% from (0.1%)

    • Markets:

      • WTI Crude (Jun 25): +$0.71 or +1.19% to $60.62

      • €-$ +0.0038 or +0.34% to 1.1266

      • £-$ +0.0056 or +0.43% to 1.3304

      • €-£ (0.0010) to 0.8468

      • S&P 500 (0.05%)

      • Performance year-to-date

        • FTSE 100: +4.67%

        • DAX: +18.03%

        • CAC: +4.92%

        • MIB: +15.13%

        • Stoxx 600: +5.98%

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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