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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE (0.20%) to 8830.50, DAX +1.17% to 23353.40, CAC40 +0.30% to 7582.51, STOXX 600 +0.07% to 536.70

Jun 20 ,2025

  • Synopsis:

    • European equity markets ended moslty firmer. Follows downbeat performance on Thursday, which saw Stoxx 600 hit its lowest level since early May. Of note, Sweden and Finland closed today for Mid-summer Eve. Attention remains on geopolitical developments. White House Press Secretary Karoline Leavitt said President Trump will decide within two weeks whether to strike Iran.

    • Yesterday's central bank updates from Europe leaned dovish. SNB and Norges Bank cut rates, while BoE left policy unchanged with some dovish commentary on labor market.

    • On the macro calendar, UK retail sales slumped in May (2.7%) m/m, much larger than the (0.5%) drop forecast and compared with prior 1.3% increase revised from 1.2%, despite signs of stabilizing consumer confidence. Update from UK's REC suggests UK labor market stagnating. Said number of new job adverts rose by 0.3% to 726,084, though total number of active postings down 1.8% to 1.4M. Still in UK, public finances in May saw public borrowing at £17.7B versus consensus £17.1B and down from revised £20.1B in April. However, was the second-highest May borrowing since monthly records began in 1993 except for Covid pandemic period. Elsewhere, French business confidence weakens slightly 96 vs consensus 97 and prior 97. German PPI in line with estimate (1.2%) y/y, and prior (0.9%). Eurozone Flash Consumer Confidence worsens to (15.3) vs consensus (15.0) and prior revised (15.1) from (15.2)

    • On a light corporate newsflow front, after the close last night, Eutelsat Communications (ETL.FP) announced a €1.35B capital increase of to secure the execution of its long-term strategic vision and also confirmed its FY25 outlook; in the UK, Berkeley Group Holdings (BKG.LN) issued FY earnings, and announced a new Chair and CEO.

    • In M&A news, UniCredit (UCG.IM) CEO stated that his bank is likely to withdraw its offer for Banco BPM (BAMI.IM) and will remain an investor in Commerzbank (CBK.GR). Elsewhere, local press reported that Belgium and Luxembourg are acquiring ten Nasams anti-aircraft missile batteries from Kongsberg (KOG.NO) via the Netherlands, with the contract worth ~€2.5B.

    • Looking ahead to next week EU econ-calendar, notable releases on Monday will include, amongst others, Eurozone, France, Germany, UK Jun flash manufacturing/services PMI and Spain Apr trade balance.

  • Digest:

    • Sectors - STOXX Europe 600:

      • STOXX Europe 600 sectors:

        • Outperformers: Insurance +1.37%, Travel & Leisure +1.07%, Autos & Parts +0.77%, Real Estate +0.72%, Banks +0.63%, Construct & Mtls +0.57%, Financial Svcs +0.56%, Ind Goods & Svcs +0.36%, Consumer Products and Services +0.22%, Media +0.22%,

        • Underperformers: Health Care (0.70%), Energy (0.56%), Food, Beverage and Tobacco (0.28%), Personal Care Drug and Grocery Stores (0.05%), Chemicals (0.04%), Technology +0.03%, Telecom +0.13%, Retail +0.14%, Basic Resources +0.16%,

    • Macro:

      • EU:

        • Commission to kill EU anti-greenwashing rules -- Politico

        • The EU's struggle to stop funding Putin's war -- FT

      • UK:

        • Reeves may need to raise taxes by £20B in autumn after UK borrowing rises -- Guardian

        • Reeves has already done irreversible damage to Britain -- Telegraph

      • Germany:

        • Tug-of-war over the federal budget: It won't work without cuts in benefits -- Rheinische Post

      • France:

        • France pushes for joint debt to bolster international role of euro -- FT

        • The dashed hopes of France's left-wing alliance -- Le Monde

      • Italy:

        • Italy to slash VAT on art to compete with EU rivals -- FT

    • Company news:

      • Notable Gainers

        • +29.6% ETL.FP (Eutelsat Communications €3.65, +0.84) -- contemplates capital increase of € 1.35B, to secure the execution of its long-term strategic vision, anchored by the french state and other reference shareholders; confirms FY25 outlook

        • +7.2% VBK.GR (Verbio €11.34, +0.76)

        • +6.0% TUI1.GR (TUI Group €6.55, +0.37) -- Barclays upgrade

        • +3.3% TKA.GR (ThyssenKrupp €8.82, +0.28) -- to acquire technology assets from Green Hydrogen Systems

        • +2.8% FLS.DC (FLSmidth & Co. DKK392.40, +10.60) -- to divest its Cement business for total initial consideration of €75M; share buy-back programme of up to DKK 1.4B

        • +2.7% STAN.LN (Standard Chartered £11.83, +0.32) -- sector move

        • +2.6% PAG.LN (Paragon Banking Group £9.18, +0.24) -- Deutsche Bank upgrade

        • +2.1% SAN.SM (Banco Santander €6.94, +0.14) -- sector move

        • +1.9% MT.NA (ArcelorMittal €26.39, +0.50) -- terminates DRI-EAF projects in the EU

        • +1.7% UCG.IM (UniCredit €56.09, +0.92) -- UniCredit likely to withdraw offer for Banco BPM; to remain an investor and closely watching Commerzbank transformation -- CEO tells Repubblica

      • Notable Decliners

        • -8.5% BKG.LN (Berkeley Group Holdings £37.96, -3.52) -- FY earnings; chairman to step down

        • -7.1% RLF.SW (RELIEF THERAPEUTICS Holding CHF2.21, -0.17) -- initial request for Qualified Infectious Disease Product designation for RLF-TD011 for the treatment of epidermolysis bullosa was not granted by the US FDA

        • -6.3% REC.LN (Record £0.54, -0.04) -- FY earnings

        • -6.1% MBTN.SW (Meyer Burger Technology CHF0.75, -0.05) -- postpones EGM

        • -3.0% AKRBP.NO (Aker BP NOK280.00, -8.70) -- Danske Bank downgrade

        • -1.8% EQNR.NO (Equinor NOK280.00, -5.20) -- Vår Energi announces production from Johan Castberg field in the Barents Sea is now at plateau levels

        • -1.7% CARR.LN (Carr's Group £1.43, -0.02) -- completes tender offer for 42.9M shares totalling approximately £70M

    • EU companies reporting Monday:

      • Earnings: Benelux: Prosus (PRX.NA)

  • Data:

    • Economics:

      • Eurozone Jun Flash Consumer Confidence (15.3) vs consensus (15.0) and prior revised (15.1) from (15.2)

      • Portugal May PPI (3.1%) y/y vs consensus (3.6%) and prior revised (2.6%) from (2.7%)

      • France Jun Business Survey 96.1 vs prior revised to 97 from 97

      • Germany May PPI (1.2%) y/y vs consensus (1.2%) and prior (0.9%); (0.2%) m/m vs consensus (0.3%) and prior (0.6%)

      • UK May Retail Sales (1.3%) y/y vs consensus +1.7% and prior +5.0%

    • Markets:

      • WTI Crude (Jul 25): ($0.22) or (0.29%) to $74.92

      • €-$ +0.0027 or +0.24% to 1.1525

      • £-$ +0.0005 or +0.04% to 1.3474

      • €-£ +0.0015 to 0.8553

      • S&P 500 (0.11%) Performance year-to-date

        • FTSE 100: +7.45%

        • DAX: +17.31%

        • CAC: +2.78%

        • MIB: +14.86%

        • Stoxx 600: +5.76%

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.
Please refer to "Terms Of Use".

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