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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.11%) to 8716.45, DAX (0.44%) to 23933.23, CAC40 (0.11%) to 7779.72, STOXX 600 (0.19%) to 547.88

May 29 ,2025

  • Synopsis:

    • European equity markets closed mostly lower and near the lowest levels of the session. Spain +0.1% bucked the negative trend. Follows mostly weaker levels on Wednesday. Swiss and Scandinavian markets were closed for Ascension Day. Basic resources, real estate and banks were the best performing sectors. Utilities, media and energy lagged.

    • US Court of International Trade issued a ruling Wednesday blocking President Trump's reciprocal tariffs from going into effect. Ruling argued Trump overreached in his reliance on International Emergency Economic Powers Act (IEEPA) to impose tariffs. Despite some uncertainty, Trump administration retains multiple tools, including Section 232 tariffs and exchange rate policy.

    • On the macro front, Spain Apr Retail Sales came in at +4.0% y/y vs consensus +3.6% whilst Italy May Business Confidence beat at 86.5 vs consensus 86.2 with Consumer Confidence 96.5 vs consensus 93.0.

    • Corporate newsflow was light with markets in Switzerland, Sweden, Norway, Finland and Denmark closed for Ascension Day. Shares in Mercedes-Benz Group (MBG.GR), Bayerische Motoren Werke (BMW.GR) and Volkswagen (VOW3.GR) closed higher after wires reported that they were in talks with US over import tariff deal.

    • In earnings, Spanish names AEDAS Homes (AEDAS.SM) and eDreams ODIGEO (EDR.SM) issued their latest earnings numbers whilst in the UK, Auto Trader Group (AUTO.LN) reported FY and Watkin Jones (WJG.LN) closed lower on H1 results.

    • In M&A news, Lone Star, Apollo, Reliance are repoterdly among firms that have expressed an interest in acquiring BP (BP.LN) Castrol business. In Germany, Warburg Pincus and KPS Capital Partners are in talks to team up on an offer for Gerresheimer (GXI.GR).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +0.28%, Real Estate +0.23%, Banks +0.21%, Travel & Leisure +0.06%, Insurance +0.04%, Health Care (0.13%), Food & Beverage (0.14%), Technology (0.15%)

      • Underperformers:

        • Utilities (0.76%), Media (0.68%), Oil & Gas (0.49%), Ind Goods & Svcs (0.39%), Chemicals (0.32%), Autos & Parts (0.30%), Retail (0.28%), Telecom (0.27%), Financial Svcs (0.26%), Construct & Mtls (0.25%), Persnl & HHold Goods (0.19%)

    • Peripheral markets:

      • Geopolitics

        • Trump's Trade Strategy Upended After Court Blocks Global Tariffs - Bloomberg

      • EU

        • ECB's Kazimir Convicted of Bribery and Given €200,000 Fine - Bloomberg

        • EU officially retires its 'no cherry-picking' Brexit line - Politico

      • UK

        • Sadiq Khan pitches London as haven from Trump turbulence for US businesses - FT

        • Starmer to say Reform's spending plans would cause a Truss-style meltdown - The Guardian

        • Britain to unleash army of hackers on Putin - The Telegraph

      • Germany

        • Germany's economy minister urges Brussels to back support plan for heavy industry - FT

      • Portugal

        • Portugal's far-right Chega becomes main opposition party - Reuters

      • Poland

        • Poland's World-Beating Rally Is Facing an Election Reality Check - Bloomberg

    • Company news:

      • Notable Gainers

        • +5.6% ATYM.LN (Atalaya Mining £4.36, +0.23) -- Q1 earnings

        • +4.2% DLG.IM (De'Longhi €29.32, +1.18) -- Barclays upgrade

        • EU discussing steel, chip, plane cooperation with US, trade chief says - Reuters

          • +3.6% AF.FP (Air France-KLM €9.49, +0.33)

          • +3.1% ALO.FP (Alstom €20.25, +0.61)

          • +2.8% UMI.BB (Umicore €9.64, +0.27)

          • +2.2% GLEN.LN (Glencore £2.78, +0.06)

        • Nvidia Q1 sympathy

          • +2.8% ASM.NA (ASM International €498.00, +13.60)

          • +1.8% BESI.NA (BE Semiconductor Industries €110.90, +2.00)

        • +2.5% LHA.GR (Deutsche Lufthansa €7.03, +0.17) -- EU discussing steel, chip, plane cooperation with US, trade chief says - Reuters

        • +2.4% AML.LN (Aston Martin Lagonda Global Holdings £0.80, +0.02) -- US trade court blocks Trump's Liberation Day tariffs

        • +1.7% WOSG.LN (Watches of Switzerland Group £4.17, +0.07) -- US trade court blocks Trump's Liberation Day tariffs

      • Notable Decliners

        • -15.5% WJG.LN (Watkin Jones £0.30, -0.06) -- H1 earnings

        • -11.1% AUTO.LN (Auto Trader Group £8.00, -1.00) -- FY earnings

        • -10.3% BOWL.LN (Hollywood Bowl Group £2.66, -0.31) -- H1 earnings

        • -10.3% BOWL.LN (Hollywood Bowl Group £2.66, -0.31) -- Peel Hunt downgrade

        • -7.8% BMS.LN (Braemar £2.35, -0.20) -- FY earnings

        • -7.1% CHRT.LN (Cohort £14.40, -1.10) -- FY trading update

        • -4.7% RKH.LN (Rockhopper Exploration £0.52, -0.03) -- FY earnings

        • -1.8% PHNX.LN (Phoenix Group Holdings £6.31, -0.12) -- BofA downgrade

        • -1.8% CEM.IM (Cementir Holding €13.92, -0.26) -- divests its Kars cement plant in Türkiye to Arkoz Madencilik A.Ş an enterprise value of €51M on a cash and debt-free basis

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Allane (LNSX.GR), Stratec (SBS.GR)

        • Nordics: BW Offshore (BWO.NO)

        • Other: Aeroflot (AFLT.RU)

      • Trading Update:

        • DACHs: Nynomic (M7U.GR)

  • Data:

    • Economics:

      • Spain Apr Retail Sales +4.0% y/y vs consensus +3.6% and prior revised +3.8% from +3.6%

      • Italy May Business Confidence 86.5 vs consensus 86.2 and prior revised 85.8 from 85.7

        • Consumer Confidence 96.5 vs consensus 93.0 and prior 92.7

    • Markets:

      • WTI Crude (Jul 25): ($0.74) or (1.20%) to $61.10

      • €-$ +0.0077 or +0.68% to 1.1369

      • £-$ +0.0025 or +0.19% to 1.3494

      • €-£ +0.0042 to 0.8427

      • S&P 500 +0.31%

      • Performance year-to-date

        • FTSE 100: +6.65%

        • DAX: +20.21%

        • CAC: +5.41%

        • MIB: +16.96%

        • Stoxx 600: +7.93%

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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