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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.59%) to 8726.01, DAX (0.78%) to 24038.19, CAC40 (0.49%) to 7788.10, STOXX 600 (0.61%) to 548.93

May 28 ,2025

  • Synopsis:

    • European equity markets closed lower following positive session on Tuesday. Asian equities mixed. Nikkei, and mainland China firmer, but Hang Seng and ASX weaker. Kospi the best performer amid a rally in tech stocks. US equities little changed Wednesday morning trading. Comes after US equities rallied sharply to start the week; S&P jumped over 2% with more than 90% of the index finishing up for the day.

    • Attention on bond market. Yields were helped Tuesday on reports Japan's finance ministry may be prepared to dial back issuance of super-long bonds following last week's market rout. However, soft 40Y auction has seen reversal of move following last week's soft 20Y auction. Speaking earlier, BOJ Governor Ueda warned potential for superlong volatility to spill over to shorter-term debt more closely tied to economic activity. Analysts highlight potential for broader backup in yields if Japanese investors repatriate capital from overseas. Has heightened focus on fiscal deficits. IMF warned on risk of more volatility for UK Gilts in annual staff report. Some ongoing focus on lack of progress on Ukraine peace talks, following Putin's bold requests.

    • WEF founder Schwab said ECB President Lagarde discussed leaving her role early to lead the body following recent speculation. ECB spokesman said Lagarde determined to complete term, which runs until 2027. Meanwhile, ECB consumer expectations survey saw pickup in near-term inflation expectations, but stable over medium term.

    • On the macro front, German unemployment saw bigger-than-expected increase in May. French Q1 GDP revised lower, while PPI data weaker-than-forecast. Update from UK housing portal Zoopla indicated strong activity in May amid lower rates and resilience in economy helping. SNB's Schlegel warned against overreacting to every monthly inflation reading, which might dampen potential for negative rates.

    • In corporate news, Elekta (EKTA.B.SS) reported Q4 earnings. In the UK, Kingfisher (KGF.LN) posted Q1 numbers and reiterated its FY25 guidance, whilst Pets At Home Group (PETS.LN) issued FY results and confirmed FY26 guidance. In other corporate developments, Stellantis announced the appointment of Antonio Filosa, the current COO for the Americas and Chief Quality Officer, as its new CEO, effective 23-Jun whilst Marilly appointed as new CEO of Rémy Cointreau (RCO.FP). On the M&A newsflow, Unicredit (UCG.IM) CEO Orcel ruled out Generali (G.IM) takeover despite rising stake.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 26-May to 30-May attached) Auto Trader Group (AUTO.LN), Atalaya Mining (ATYM.LN), Hollywood Bowl Group (BOWL.LN), Benchmark Holdings (BMK.LN), Avacta Group (AVCT.LN), Watkin Jones (WJG.LN), Premier Miton Group (PMI.LN), and Braemar (BMS.LN) will be among other names to update investors, whilst the macro-calendar releases will include Italy May business/consumer confidence, and Spain Apr retail sales. Holidays: Switzerland (Ascension Day), Denmark, Finland, Iceland, Norway, Sweden

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Autos & Parts +0.70%, Real Estate +0.54%, Oil & Gas +0.12%, Ind Goods & Svcs (0.24%), Travel & Leisure (0.35%), Construct & Mtls (0.60%),

      • Underperformers:

        • Basic Resources (1.09%), Retail (1.12%), Telecom (0.98%), Chemicals (0.90%), Health Care (0.86%), Media (0.93%), Insurance (0.85%), Banks (0.75%), Financial Svcs (0.74%), Technology (0.73%), Persnl & HHold Goods (0.66%), Utilities (0.67%), Food & Beverage (0.67%),

    • Macro/Peripheral markets:

      • Geopolitics

        • Hamas Gaza chief 'eliminated' by Israel, says Netanyahu - The Telegraph

        • OPEC+ to Maintain Group Quotas Ahead of July Output Decision - Bloomberg

        • NATO Floats Cybersecurity to Be Included in New Spending Target - Bloomberg

      • EU

        • Brussels 'urgently' asks EU companies about US exposure as trade war deadline nears - Politico

        • Trust in European Union at highest since 2007, poll shows - Reuters

        • European homeowners face rising mortgage costs until 2030 - FT

      • UK

        • The UK government thinks AI can do two-thirds of the most junior civil servants' work - Politico

      • France

        • French Consumer Spending Rises Less Than Expected in April - Bloomberg

      • Germany

        • Germany's Merz vows to keep Nord Stream 2 pipeline switched off - Politico

        • German chancellor promises to help Ukraine produce long-range missiles - BBC

        • Black-Red decides to extend the rent brake - Handelsblatt

      • Sweden

        • Risks to financial stability in Sweden have increased, Riksbank says - Reuters

      • Poland

        • Maga campaign in Europe tested by Poland's knife-edge election - FT

    • Company news:

      • Trading Higher:

        • +51.4% GNRO.FP (GeNeuro €0.11, +0.04) -- announces definitive Debt-Restructuring Moratorium

        • +26.4% ALCRB.FP (Carbios €7.98, +1.67) -- first contracts for the sale of bio-recycled PET

        • +16.8% DESN1.SW (Dottikon ES Holding CHF261.00, +37.50) -- reports FY net income CHF105.6M vs FactSet CHF70.3M [1 est]

        • +13.3% AUB.FP (Aubay €51.00, +6.00) -- enters into exclusive negotiations with Holding Solutec SAS to acquire 100% of Solutec's share capital

        • +9.5% NB2.GR (Northern Data €27.50, +2.38) -- has received expressions of interest from US-listed companies to enter into discussions focused on merging or acquiring its Taiga Cloud and Ardent divisions

        • +8.3% FDEV.LN (Frontier Developments £2.47, +0.19) -- FY Trading Update: revenue £90M vs FactSet £88.8M [2 est, £87.5-90.1M]

        • +7.9% POXEL.FP (Poxel €0.51, +0.04) -- to present new clinical and scientific Data on TWYMEEG at the 68th Annual Meeting of the Japan Diabetes Society

        • +7.9% IRLAB.A.SS (IRLAB Therapeutics SEK7.53, +0.55) -- positive results from the second part of a Phase I study with IRL757 for the treatment of apathy

        • +7.4% 9Q9.GR (Azerion Group €1.45, +0.10) -- earnings

        • +6.8% ALPHA.GA (Alpha Services & Holdings €2.98, +0.19) -- UniCredit (UCG.IM) enters into financial instruments relating to Alpha Services and Holdings for a ~9.7% stake increasing its aggregate position to ~20%; MoU with ELTA

        • +5.9% EKTA.B.SS (Elekta SEK52.95, +2.95) -- reports Q4 EPS SEK1.11 ex-items vs consensus SEK1.38

        • +5.5% ALATA.FP (Atari, Inc. €0.15, +0.01) -- Atari Preliminary FY25 Revenues and Business Update: Revenues are expected to reach ~$36M, (60%) y/y

        • +4.1% ASCN.SW (Ascom Holding CHF3.72, +0.15) -- buyback launch

        • +3.8% AVG.LN (Avingtrans £4.15, +0.15) -- trading update

        • +3.7% EUROB.GA (Eurobank Ergasias Services & Holdings €2.80, +0.10) -- holder Fairfax Financial Holdings intends to participate Eurobank's share buyback

        • +3.5% V3V.GR (FamiCord €4.10, +0.14) -- earnings

        • +3.0% GPE.LN (Great Portland Estates £3.40, +0.10) -- completes sale of Challenger House for £42.0M

        • +3.0% CCR.LN (C&C Group £1.59, +0.05) -- reports FY adjusted EPS €0.12 vs FactSet €0.11 [6 est, €0.11-0.12]; hikes dividend +4% y/y

        • +2.9% IDHC.LN (Integrated Diagnostics Holdings £0.36, +0.01) -- earnings

        • +2.7% AT1.GR (Aroundtown €2.76, +0.07) -- reports Q1 FFO €0.07 vs FactSet €0.08

        • +2.5% SAAB.B.SS (Saab SEK489.00, +12.00) -- releases presentation material in connection with its CMD

        • +2.2% SANION.SS (Saniona SEK8.43, +0.18) -- reports Q1 EPS SEK0.16 vs year-ago (SEK0.08)

      • Trading Lower:

        • -23.9% VOW.NO (Vow ASA NOK1.94, -0.61) -- earnings

        • -20.5% SOI.FP (SOITEC €45.16, -11.66) -- reports FY net income €92M vs FactSet €103.5M [17 est, €81.4-117.0M]; quides Q1 revenue to be down ~20% y/y

        • -17.1% CRNA.NO (Circio Holding NOK0.62, -0.13) -- to present new and differentiating circVec data and corporate update in live webcast at 10:00 CET today

        • -13.0% ANDF.NO (Andfjord Salmon Group NOK32.00, -4.80) -- earnings

        • -10.5% JLP.LN (Jubilee Metals Group £0.04, -0.00) -- update on the implementation of its copper projects in Zambia

        • -6.6% AEDAS.SM (AEDAS Homes €26.30, -1.85) -- Neinor (HOME.SM) confirms that it is in discussions with Castlelake regarding a potential corporate transaction with AEDAS Homes

        • -5.7% VAC.FP (Pierre & Vacances €1.42, -0.09) -- earnings

        • -5.0% B8FK.GR (Biofrontera AG €2.49, -0.13) -- withdraws prior outlook; discloses payment difficulties

        • -3.7% KGF.LN (Kingfisher £2.85, -0.11) -- reports Q1 revenue £3.31B vs consensus £3.21B; reiterates FY guidance

        • -3.5% PKTM.SW (PIERER Mobility CHF17.08, -0.62) -- confirms prelim FY24 earnings

        • -3.1% RAIVV.FH (Raisio €2.51, -0.08) -- strategy 2025-27; releases presentation material in connection with its CMD

        • -2.8% PTEC.LN (Playtech £3.14, -0.09) -- announces agreement has been reached regarding German HAPPYBET assets

        • -2.7% HKY.NO (Havila Kystruten NOK1.07, -0.03) -- earnings

        • -2.4% LSL.LN (LSL Property Services £2.88, -0.07) -- reiterates expectation of further profit growth in 2025, in line vs current consensus - AGM statement

        • -2.3% BOL.SS (Boliden SEK305.10, -7.10) -- secures long term financing for Somincor and Zinkgruvan acquisitions

        • -2.0% JOG.LN (Jersey Oil & Gas £1.23, -0.02) -- earnings

        • -1.7% WIHN.SW (WISeKey International Holding CHF11.80, -0.20) -- SEALSQ Corp - a member of the WISeKey Group - signs share purchase agreement to acquire 100% of IC'ALPS; price not disclosed

        • -1.7% RCDO.LN (Ricardo £2.85, -0.05) -- activist holder Science Group (SAG.LN) increases stake to 21.8%

        • -1.6% DATA.LN (GlobalData £1.85, -0.03) -- board extends deadline for ICG to decide on whether or not to make an offer to 11-Jun

        • -1.6% DATA.LN (GlobalData £1.85, -0.03) -- Kohlberg Kravis Roberts & Co (KKR) announces no intention to make an offer for GlobalData Plc

        • -1.5% AI.FP (Air Liquide €182.54, -2.84) -- announces two acquisition in Germany; terms not disclosed

    • EU companies reporting tomorrow:

      • Earnings:

        • UK: Auto Trader Group (AUTO.LN), Atalaya Mining (ATYM.LN), Hollywood Bowl Group (BOWL.LN), Benchmark Holdings (BMK.LN), Avacta Group (AVCT.LN), Watkin Jones (WJG.LN), Premier Miton Group (PMI.LN), Braemar (BMS.LN)

  • Data:

    • Economics:

      • Switzerland May ZEW Expectations (22.0) vs cons (35.0) and prior (51.6)

      • Germany May

        • Unemployment Change +34K vs cons +10K and prior +4K

        • Unemployment Rate 6.3% vs cons 6.3% and prior 6.3%

      • France

        • Apr Consumer Spending +0.3% m/m vs cons +0.8% and prior revised (1.1%) from (1.0%)

        • Q1 GDP +0.6% y/y vs prelim +0.8%; +0.1% q/q vs preliminary +0.1%

        • Apr PPI (0.8%) y/y vs cons +2.9% and prior revised (0.2%) from (0.6%); (4.3%) m/m vs cons (0.3%) and prior revised (0.5%) from (0.6%)

      • Sweden Apr

        • Retail Sales +5.3% y/y vs cons +3.4% and prior revised +3.2% from +3.6%; +0.9% m/m vs cons +0.4% and prior revised +0.7% from +0.3%

        • Trade Balance SEK6.6B vs cons SEK9.1B and prior revised SEK11.2B from SEK12.8B

      • Belgium

        • Q1 GDP +1.1% y/y vs preliminary +1.1% (5:00ET)

        • May CPI +2.0% y/y vs consensus +2.4% and prior +2.6% (5:30ET)

      • Norway Apr Retail Sales +0.7% m/m vs cons +0.3% and prior +0.6%

      • Denmark Apr Unemployment Rate 2.5% vs cons 2.6% and prior 2.6%

      • Ireland Apr Retail Sales +3.0% y/y vs consensus (0.9%) and prior revised (0.7%) from (1.3%)

    • Markets:

      • WTI Crude (Jul 25): +$1.03 or +1.69% to $61.92

      • €-$ (0.0034) or (0.30%) to 1.1295

      • £-$ (0.0045) or (0.34%) to 1.3460

      • €-£ +0.0002 to 0.8391

      • S&P 500 (0.30%)

      • Performance year-to-date

        • FTSE 100: +6.77%

        • DAX: +20.74%

        • CAC: +5.52%

        • MIB: +17.38%

        • Stoxx 600: +8.14%

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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