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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.57% to 8633.75, DAX +0.72% to 23695.59, CAC40 +0.21% to 7853.47, STOXX 600 +0.56% to 546.95

May 15 ,2025

  • Synopsis:

    • European equity markets ended mixed to mostly higher with Stoxx Europe 600 well off this morning's morning lows. Oil down (2.8%) amid report Trump close to Iran nuclear deal and IEA cut oil demand growth forecast.

    • Nothing really moving the needle on trade today. Optimism persists about de-escalation of US-China trade tensions; US and China continued trade talks in South Korea today, while Trump said India has offered a deal that would scrap all tariffs and US and EU agreed to intensify trade talks

    • On the European macro data front, UK Q1 GDP data came in ahead of forecast amid another upside surprise in monthly estimate. However, update came before impact of Trump's tariff announcements. Switzerland also recorded strongest growth in two years. Eurozone Q1 second estimate revised down a notch, while industrial production beat expectations. German wholesale prices up 0.8% y/y in April. French final CPI in line with flash.

    • Busy day for earnings with focus on German heavyweights. Siemens (SIE.GR) results came in mixed with focus on Digital Industries dynamics. ThyssenKrupp (TKA.GR) fell (12%) as it reported Q2 Adj. EBIT €19M vs consensus €146.0M amid softness in most divisions, especially Steel Europe and Auto Tech. FY25 guidance was unchanged but analysts argue this requires substantial work to be done for the remainder for the year. Merck (MRK.GR) shares fell (6.8%) on back of mixed Q1 results and also tweaked some of its guidance after integrated macroeconomic impact. Deutsche Telekom (DTE.GR) and Allianz (ALV.GR) also reported today. Utility sector outperformed with earnings on the tape from the likes of National Grid (NG.LN), United Utilities (UU.LN), RWE (RWE.GR) and ENGIE (ENGI.FP). In France, Ubisoft (UBI.FP) shares fell (18%) following a disappointing set of Q4/FY numbers, together with an "underwhelming" Q1 and FY26 guidance. Defence sector saw upside with Rheinmetall (RHM.GR) up 5% and Hensoldt (HAG.GR) up 8.9% as German foreign minister backs US demand for 5% defense spending:

    • Tomorrow sees earnings/updates from the likes of Richemont (CFR.SW), Aegon (AGN.NA), and Swiss Re (SREN.SW). In central banks, ECB's Cipollone remarks at 9:30CET at meeting of the Euro Cyber Resilience Board for pan-European Financial Infrastructures. Macro data releases include Eurozone Mar trade balance. SNB's Schlegel speech title 'Trade war and geopolitical upheaval: Monetary policy in times of uncertainty' at 13:00CET at event hosted by Swiss Media Forum. Riksbank's Seim, ECB's Lane, BOE's Lombardelli panellists at 17:00CET at event hosted by The Federal Reserves (Thu-Fri). Czech central bank releases minutes of last MPC meeting as well as latest Monetary Policy Report. There's a meeting of the European Political Community. In addition to the EU member states, the United Kingdom, several Balkan and Caucasus states, and other European countries are participating. EU's Kubilius attends the E5+ meeting and European Group of Five (German, UK, Poland, Italy, France (E5)) defence ministers meet. Also of note, first day of trading of Solstad Maritime Holding (SOMA.NO), being spun-off by AMSC (AMSC.NO).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Telecom +2.00%, Utilities +1.90%, Food, Beverage and Tobacco +1.52%, Real Estate +1.40%, Chemicals +1.24%, Health Care +1.01%, Ind Goods & Svcs +0.85%, Personal Care Drug and Grocery Stores +0.84%, Insurance +0.79%, Media +0.63%,

      • Underperformers:

        • Autos & Parts (0.91%), Energy(0.89%), Basic Resources (0.85%), Consumer Products and Services (0.50%), Travel & Leisure (0.23%), Financial Svcs (0.10%), Technology +0.05%, Banks +0.18%, Construct & Mtls +0.24%

    • Macro:

      • UK

        • GDP surge gives Reeves only brief respite from economic challenge -- FT

      • Russia/ukraine

        • Zelensky to send defence minister to Ukraine talks but says Russia 'not serious' about peace -- BBC

      • Iran

        • Trump says US close to a nuclear deal with Iran -- Reuters

      • EU

        • EU Readies New Proposals in Push to Speed Up US Trade Talks -- Bloomberg

      • Italy

        • Italy's public debt up to 3.034 trillion in March - BoI -- ANSA

      • Germany

        • Germany backs Donald Trump goal for Nato to spend 5% of GDP on defence -- FT

        • Latest forecast from the Tax Estimation Working Group predicts lower government revenues than previously expected -- Handelsblatt

    • Company news:

      • Notable Gainers

        • +9.1% LMN.SW (lastminute.com CHF15.05, +1.25) -- Q1 earnings

        • +8.3% PARRO.FP (Parrot €7.14, +0.56) -- Q1 revenue

        • +7.4% HIK.LN (Hikma Pharmaceuticals £0.00, +1.43)

        • +7.2% CMCOM.NA (CM.com €7.41, +0.50) -- CMD update

        • +5.2% WOSG.LN (Watches of Switzerland Group £4.14, +0.20) -- trading update

        • +5.2% AUSS.NO (Austevoll Seafood NOK100.60, +5.00) -- Q1 earnings

        • +5.1% AB.FP (AB Science €1.54, +0.07) -- journal publication

        • +3.7% LSG.NO (Lerøy Seafood Group NOK47.96, +1.72) -- Q1 earnings

        • +3.6% ENGI.FP (ENGIE €18.41, +0.63) -- Q1 earnings

        • +3.1% SRP.LN (Serco Group £1.82, +0.05) -- contracts

        • +3.0% NG.LN (National Grid £10.45, +0.31) -- FY earnings

        • +2.0% NA9.GR (Nagarro €70.05, +1.40) -- Q1 earnings

        • +1.7% KESKOB.FH (Kesko €20.64, +0.34) -- Apr sales

        • +1.7% BAKK.LN (Bakkavor Group £1.91, +0.03) -- Greencore announces recommended 200p/sh offer (shares and cash) for each Bakkavor share in a deal worth ~£1.2B; Q1 revenue

        • +0.7% JST.GR (JOST Werke €55.60, +0.40) -- Q1 earnings

        • +0.7% KBC.BB (KBC Group €85.98, +0.60) -- Q1 earnings

        • +0.3% GNC.LN (Greencore Group £1.89, +0.01) -- H1 earnings; raises FY guidance; announces recommended 200p/sh offer (shares and cash) for each Bakkavor share in a deal worth ~£1.2B

      • Notable Decliners

        • -18.2% UBI.FP (Ubisoft Entertainment €9.58, -2.13) -- FY earnings; Oddo downgrade

        • -17.0% PIERCE.SS (Pierce Group SEK8.90, -1.83) -- Q2 earnings

        • -12.6% CAMX.SS (Camurus SEK548.00, -78.00) -- Q2 earnings

        • -12.4% TKA.GR (ThyssenKrupp €8.20, -1.17) -- Q2 earnings

        • -11.2% ATG.LN (Auction Technology Group £4.96, -0.61) -- H1 earnings

        • -10.1% ECEL.LN (Eurocell £1.48, -0.16) -- trading update

        • -9.6% MDM.FP (Maisons du Monde €2.55, -0.27) -- Q1 revenue

        • -8.7% DMP.GR (Dermapharm Holding €35.60, -3.40) -- Q1 earnings

        • -8.6% BGEO.LN (Lion Finance Group £62.55, -5.80) -- Q1 earnings

        • -8.1% HEX.NO (Hexagon Composites NOK18.00, -1.58) -- Q1 earnings

        • -7.7% NCH2.GR (thyssenkrupp nucera €9.24, -0.76) -- Q2 earnings

        • -7.5% EG7.SS (Enad Global 7 SEK10.56, -0.86) -- Q1 earnings

        • -7.4% ALFEN.NA (Alfen €11.01, -0.88) -- KBC downgrade

        • -6.8% MRK.GR (Merck KGaA €115.70, -8.45) -- Q1 earnings

        • -6.5% FNM.SS (Ferronordic SEK45.00, -3.25) -- Q1 earnings

        • -6.1% FORN.SW (Forbo Holding CHF819.00, -53.00) -- Kepler Cheuvreux downgrade

        • -5.8% NIBE.B.SS (NIBE Industrier SEK44.08, -2.69) -- Q1 update

        • -5.5% EKT.GR (EnergieKontor €45.15, -2.65) -- Q1 update

        • -5.3% TNIE.GR (tonies €6.18, -0.35) -- Q1 revenue

        • -5.3% ORTHEX.FH (Orthex €4.87, -0.27) -- Q1 earnings

        • -4.7% CEC.GR (CECONOMY €3.20, -0.16) -- Q2 earnings

        • -4.6% MEKO.SS (MEKO AB SEK121.00, -5.80) -- Q1 earnings

        • -4.2% III.LN (3i Group £40.05, -1.77) -- FY earnings

        • -3.9% MLP.GR (MLP €8.05, -0.33) -- Q1 update

        • -3.9% DIB.IM (Digital Bros €12.06, -0.50) -- Q3 earnings

        • -3.8% SGE.LN (Sage Group £12.32, -0.49) -- H1 earnings; £200M buyback extension

        • -3.6% KID.NO (Kid ASA NOK150.40, -5.60) -- Q1 earnings

        • -3.1% SFER.IM (Salvatore Ferragamo €5.85, -0.19) -- Q1 revenue

        • -3.1% ATS.AV (AT & S Austria Technologie & Systemtechnik €17.00, -0.54) -- FY earnings

        • -3.0% HAFNI.NO (Hafnia NOK52.74, -1.62) -- Q1 earnings

        • -2.9% DLE.ID (Datalex €0.34, -0.01) -- FY earnings

        • -2.7% IVG.IM (Iveco Group €15.81, -0.44) -- Q1 earnings

        • -2.1% BURE.SS (Bure Equity SEK307.40, -6.80) -- Q1 earnings

        • -1.8% ORSTED.DC (Ørsted DKK244.80, -4.40) -- Berenberg downgrade

        • -0.5% ANE.SM (Corporación Acciona Energías Renovables €17.48, -0.08) -- trading update

        • -0.3% STORY.B.SS (Storytel SEK95.25, -0.30) -- CMD update

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: HAL Trust (HAL.NA)

        • DACHs: Richemont (CFR.SW), Swiss Re (SREN.SW), Lang & Schwarz (LUS1.GR)

        • France: TotalEnergies EP Gabon (EC.FP)

        • Nordics: DOF Group (DOFG.NO), Arendals Fossekompani (AFK.NO), Pyrum Innovations (PYRUM.NO), NRC Group (NRC.NO), Hofseth BioCare (HBC.NO), Standard Supply (STSU.NO), Tokmanni Group (TOKMAN.FH), Synsam (SYNSAM.SS), BTS Group (BTS.B.SS), Ascelia Pharma (ACE.SS)

        • Southern Europe: Unipol Gruppo (UNI.IM), Tessellis (TSL.IM), Semapa (SEM.PL)

        • UK: Land Securities Group (LAND.LN), Future (FUTR.LN)

      • Trading Update:

        • Benelux: Aegon (AGN.NA), EVS Broadcast Equipment (EVS.BB)

      • CMD/events: Banijay Group (BNJ.NA)

  • Data:

    • Economics:

      • UK

        • Q1 Preliminary GDP +1.3% y/y vs consensus +1.2% and prior +1.5%

        • Mar

          • Construction Output +1.4% y/y vs consensus +1.2% and prior revised +1.4% from +1.6%

          • Visible Trade Balance (£19.87B) vs consensus (£19.4B) and prior revised (£20.96B) from (£20.81B)

          • Industrial Production (0.7%) y/y vs consensus (0.9%) and prior revised +0.4% from +0.1%

      • Q1 GDP

        • Norway (0.1%) q/q vs consensus +0.5% and prior (0.6%)

        • Eurozone +1.2% y/y vs preliminary +1.2%

      • Eurozone Mar Industrial Production +3.6% y/y vs consensus +2.5% and prior revised +1.0% from+1.2%

      • Netherlands Apr Unemployment Rate 3.8% vs consensus 3.8% and prior 3.9%

      • Norway Apr Trade Balance NOK55.9B vs consensus NOK56.4B and prior NOK60.2B

      • Switzerland Apr PPI (0.5%) y/y vs consensus (0.4%) and prior (0.1%)

      • France Apr CPI +0.8% y/y vs preliminary +0.8% (2:45ET)

    • Markets:

      • WTI Crude (Jun 25): ($1.76) or (2.79%) to $61.39

      • €-$ (0.0001) or (0.01%) to 1.1174

      • £-$ +0.0019 or +0.14% to 1.3281

      • €-£ (0.0013) to 0.8414

      • S&P 500 +0.26%

      • Performance year-to-date

        • FTSE 100: +5.64%

        • DAX: +19.02%

        • CAC: +6.40%

        • MIB: +18.23%

        • Stoxx 600: +7.75%

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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