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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.19%) to 8758.04, DAX (0.35%) to 23269.01, CAC40 (0.69%) to 7537.57, STOXX 600 (0.28%) to 535.03

Jun 23 ,2025

  • Synopsis:

    • European indices ended lower Monday. Follows last week's downbeat performance, which was the second consecutive week European markets were in the red. Banks, insurance and chemicals biggest laggards, while utilities and tech the best performers. Limited spillover from big ramp in Middle East tensions over the weekend as US bombed three Iranian nuclear development sites.

    • In trade developments, US-EU negotiations continue ahead of 9-Jul tariff deadline. Reports signaling progress over non-tariff measures though other hurdles remain and press sources say best outcome may be in-principal deal to continue negotiations. Elsewhere, UK Government unveiled its 10-year plan for a new industrial strategy, which will include a reduction in green levies on business to reduce energy costs.

    • On the macro-front, Eurozone composite PMI unchanged from prior update with slight improvement in service reading offset by manufacturing contraction. UK reading points to stable activity, albeit at weak levels.

    • M&A news dominateD the headlines, Advent International L.P. announced a £37.63/sh in cash offer for Spectris (SXS.LN) in deal worth ~£3.8B; former contender KKR issued an update asking shareholders not to accept Advent offer; still in the UK, PHP (PHP.LN) and Assura (AGR.LN) announced the terms of recommended combination; in another deal, Ares Alternative Credit acquired 20% stake in Eni (ENI.IM)'s Plenitude for €2B whilst - still in Italy - local press reported that Fnac Darty (FNAC.FP) is expecting more M&A in Italy following the UniEuro's acquisition; in Ireland, Dalata Hotel Group (DHG.ID) commented about the recent acquisition of shares by Pandox AB and Eiendomsspar and in France Claranova (CLA.FP) agreed to sell its PlanetArt division to General Atlantic Credit and PlanetArt's management team for t $175M (~ €154M)

    • Looking ahead to tomorrow's week EU econ-calendar, notable releases will include, amongst others, Germany Jun Ifo survey, Netherlands Q1 final GDP, and UK Jun industrial trends orders - CBI. Of note, Kantar's latest UK grocery market share figures will be released at 8AM GMT.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers

        • Utilities +1.27%, Technology +0.85%, Telecom +0.56%, Real Estate +0.34%, Media +0.07%, Basic Resources (0.01%), Oil & Gas (0.06%), Construct & Mtls (0.11%), Food & Beverage (0.17%)

      • Underperformers

        • Banks (1.11%), Insurance (1.02%), Chemicals (0.93%), Travel & Leisure (0.72%), Health Care (0.56%), Ind Goods & Svcs (0.44%), Autos & Parts (0.44%), Persnl & HHold Goods (0.41%), Retail (0.46%)

    • Macro:

      • Central banks:

        • ECB's Lagarde urges EU lawmakers to speed up digital euro law -- Reuters

      • EU:

        • EU countries abandon anti-greenwashing talks after Italy pulls out -- Politico

      • UK:

        • Powering Britain's Future -- Gov.UK

        • Energy prices to be cut for businesses as part of UK industrial strategy -- FT

      • Germany:

        • Germany to Increase Core Defense Spending to 3.5% of GDP by 2029 -- Bloomberg

        • Germany floats return to conscription if volunteer plan fails -- FT

      • France:

        • Paris Olympics cost taxpayers many times more than advertised, auditors say -- Politico

      • Italy:

        • Italy risks "losing 20% of gas supply" on Hormuz blockade -- MontelNews

        • Mattei Plan meets African capital: AFC's Vision -- Decode39

    • Company news:

      • Notable Gainers

        • +17.0% AB.FP (AB Science €1.50, +0.20) -- new peer-reviewed study evidence for masitinib for the treatment of Alzheimer's disease

        • +15.7% SXS.LN (Spectris £37.60, +5.16) -- recommended £37.63/sh cash offer worth ~£3.8B from Advent International L.P.; KKR comments on Advent International offer

        • +7.5% LHN.SW (Holcim CHF52.62, +3.78) -- completes spinoff of Amrize

        • +4.6% ARJO.B.SS (Arjo SEK33.48, +1.48) -- buy recommendation at Dagens Industri

        • +4.4% UCB.BB (UCB €163.55, +6.90) -- Morgan Stanley upgrade

        • +4.2% SEPL.LN (SEPLAT Energy £2.46, +0.10) -- initiated buy at Canaccord Genuity

        • +3.9% AET.LN (Afentra £0.51, +0.02) -- Risk Service Contract for Block KON4 onshore Kwanza basin, Angola

        • +3.5% TFIN.IM (Trevi-Finanziaria Industriale €0.28, +0.01) -- 2M order volume

        • +3.2% HOT.GR (Hochtief €154.30, +4.90) -- CFO to retire

        • +2.5% GREEN.BB (Greenyard €7.22, +0.18) -- Kepler Cheuvreux recommends Greenyard holders accept offer

      • Notable Decliners

        • -4.2% PHP.LN (Primary Health Properties £1.00, -0.04) -- combination with Assura at 0.3865 new PHP Shares, 12.5 pence in cash and a special dividend of 0.84 pence per Assura share

        • -3.0% MUV2.GR (Munich Re €554.80, -17.20) -- Morgan Stanley downgrade

        • -2.9% ORY.SM (Oryzon Genomics €2.65, -0.08) -- submits to FDA clinical trial protocol for its phase III PORTICO-2 trial of vafidemstat in borderline personality disorder patients

        • -2.3% AI.FP (Air Liquide €175.84, -4.16) -- BofA downgrade

        • -2.2% ERIC.B.SS (Telefonaktiebolaget LM Ericsson SEK78.64, -1.80) -- Handelsbanken downgrade

        • -1.7% ITM.LN (ITM Power £0.72, -0.01) -- Front-End Engineering Design (FEED) contract for Uniper's 120MW Humber H2ub project

        • -1.5% IDIA.SW (Idorsia CHF2.00, -0.03) -- updated terms of licensing agreement with Simcere for QUVIVIQ in China

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Hornbach Holding (HBH.GR)

        • UK: Telecom Plus (TEP.LN), LBG Media (LBG.LN), Accsys Technologies (AXS.LN), Intercede Group (IGP.LN), IG Design Group (IGR.LN), Gear4Music (Holdings) (G4M.LN), Carnival (CCL.LN)

      • Trading Update:

        • France: OVHCloud (OVH.FP)

        • UK: Sthree (STEM.LN), Bunzl (BNZL.LN)

  • Data:

    • Economics:

      • Manufacturing PMI flash

        • Eurozone 49.4 vs consensus 49.6 and prior 49.4

        • Germany 49.0 vs consensus 48.9 and prior 48.3

        • France 47.8 vs consensus 49.8 and prior 49.8

        • UK 47.7 vs consensus 46.9 and prior 46.4

      • Services PMI flash

        • Eurozone 50.0 vs consensus 50.0 and prior 49.7

        • Germany 49.4 vs consensus 47.8 and prior 47.1

        • France 48.7 vs consensus 49.2 and prior 48.9

        • UK 51.3 vs consensus 51.2 and prior 50.9

    • Markets:

      • WTI Crude (25-Aug): ($0.72) or (0.98%) to $73.12

      • €-$ +0.0076 or +0.66% to 1.1549

      • £-$ +0.0093 or +0.69% to 1.3502

      • €-£ (0.0003) to 0.8554

      • S&P 500 +0.34%

      • Performance year-to-date:

        • FTSE 100: +7.16%

        • DAX: +16.88%

        • CAC: +2.12%

        • MIB: +13.61%

        • Stoxx 600: +5.40%

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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