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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.54% to 8854.18, DAX +0.55% to 24206.91, CAC40 +0.56% to 7766.71, STOXX 600 +0.41% to 545.71

Jul 08 ,2025

  • Synopsis:

    • European equity markets closed higher, following modest gains in prior session. Auto/parts, basic resources, chemicals and oil/gas best performers; real estate, utilities and retail lag.

    • Focus on latest trade developments after Trump issued letters to countries that have not concluded a trade deal, beginning with establishing a 25% base tariff on both Japan and South Korea effective 1-Aug, tariffs on five other countries including South Africa, Malaysia. Markets welcoming extended tariff deadline and Trump's remarks that it was not a firm date. Opening to negotiating tariff rate if countries present different offers. Reuters sources said EU not expecting a letter, suggesting very close to an agreement.

    • Quiet macro calendar in Europe with trade data from Germany and France the main releases of note. More discussions in UK press on fiscal policy with both Downing Street and Treasury both refusing to rule out wealth tax, which is likely to be one of the options under consideration for autumn budget after recent U-turns on welfare cuts. Meanwhile, Bloomberg reported that the EU will propose bilateral agreements with the UK and Canada that will give them access to the bloc's new €150B loan fund for defense production, which will allow than to participate in common procurements.

    • In earnings news, Galp Energia SGPS (GALP.PL) and OMV (OMV.AV) issued Q2 trading update reporting production for the quarter. In Norway, TGS-NOPEC Geophysical Co (TGS.NO) released a disappointing Q2 operational and financial update indicating to a revenues of $306M vs company-compiled consensus $398M. In Germany, Porsche (P911.GR) reported H1 worldwide deliveries down 6% y/y. In the UK, SIG (SHI.LN) and UNITE Group (UTG.LN) are amongst others in the region to update investors with their latest numbers.

    • In M&A, Telenor (TEL.NO) announces acquisition of GlobalConnect's consumer business in Norway in a transaction valued at NOK 6.0B.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 07-Jul to 11-Jul attached) TFF Group (TFF.FP), Kongsberg Gruppen (KOG.NO), Investment AB Öresund (ORES.SS), HEBA Fastighets (HEBA.B.SS), Jet2 (JET2.LN), Zigup (ZIG.LN), Renold (RNO.LN), System1 Group (SYS1.LN), Porsche (P911.GR), Volkswagen (VOW.GR) deliveries, Hunting (HTG.LN), Galliford Try Holdings (GFRD.LN), Gym Group (GYM.LN), Cairn Homes (C5H.ID), Oryzon Genomics (ORY.SM), and ABN Amro (ABN.NA) pre-close will be amongst other names to update investors, whilst the macro-calendar releases will include Norway Jun PPI, Greece Jun CPI, Denmark May trade balance.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Autos & Parts +1.52%, Basic Resources +1.28%, Chemicals +0.98%, Oil & Gas +1.06%, Technology +0.97%, Travel & Leisure +0.88%, Health Care +0.84%, Banks +0.61%, Financial Svcs +0.50%,

      • Underperformers:

        • Real Estate (1.15%), Retail (0.69%), Utilities (0.63%), Telecom (0.39%), Insurance (0.08%), Food & Beverage +0.03%, Persnl & HHold Goods +0.16%, Media +0.06%, Construct & Mtls +0.21%, Ind Goods & Svcs +0.24%,

    • Macro/Peripheral markets:

      • Geopolitics

        • US envoy Kellogg to attend Ukraine aid conference in Rome - Reuters

        • New trade war deadline prolongs instability, UN trade agency says - Reuters

        • Trump Says Aug. 1 Tariff Deadline Won't Be Extended - Bloomberg

      • EU

        • Von der Leyen bats away no-confidence vote but critics land punches - FT

        • EU prosecutors launch probe into far-right MEP group over alleged misuse of funds - Politico

        • EU Chief Demands China Address Trade Imbalance as Tensions Flare - Bloomberg

      • UK

        • Resident doctors in England vote for strike action - FT

        • King Charles hosts President Macron and his wife Brigitte at Windsor for state visit - BBC, The Guardian

        • OBR sounds alarm bells over 'vulnerable' British economy - The Telegraph

        • UK Bonds Drop in Global Selloff, Pound Sinks - Bloomberg

      • France

        • Le Pen asks European Court of Human Rights to help her quash election ban - Politico

      • Germany

        • Steinmeier calls for more joint arms production in Europe - Handelsblatt

        • OECD chief Cormann calls for reform of inheritance tax - Handelsblatt

        • German economy launches huge investment offensive - Handelsblatt

    • Company news:

      • Trading Higher:

        • +27.6% ONCO.SS (Oncopeptides SEK2.22, +0.48) -- Pepaxti included in new clinical practice guidelines from EHA-EMN for patients with relapsed, refractory multiple myeloma

        • +22.0% CLBS.LN (Celebrus Technologies £1.80, +0.33) -- FY earnings; contracts; reinstated buy at Canaccord Genuity

        • +21.4% MVIR.SS (Medivir SEK1.87, +0.33) -- Notice of Allowance for fostrox plus lenvatinib combination patent by Japan Patent Office

        • +17.5% ACTI.SS (Active Biotech SEK0.22, +0.03) -- status update of its development programs with laquinimod

        • +16.3% THRU.LN (Thruvision Group £0.01, -0.00)

        • +13.6% NANO.FP (Nanobiotix €4.72, +0.57) -- regulatory harmonization and new composition of matter patent filed for JNJ-1900 (NBTXR3)

        • +12.6% SFL.IM (Safilo Group €1.03, +0.12) -- Equita upgrade

        • +10.8% BEG.LN (Begbies Traynor Group £1.24, +0.12) -- FY earnings; commences share buyback programme of up to 1.0M ordinary shares

        • +9.8% NTI.NO (Norsk Titanium NOK2.12, +0.19) -- orders

        • +8.1% KINV.B.SS (Kinnevik SEK90.98, +6.84) -- Q2 earnings

        • +6.8% SHI.LN (SIG £0.15, +0.01) -- traidng update; new CEO and Chair designate

        • +5.7% NTG.DC (NTG Nordic Transport Group DKK206.00, +11.20) -- initiated overweight at Barclays

        • +5.3% AVTX.NA (Avantium €15.14, +0.76) -- offtake agreement with PLIXXENT for FDCA in insulation doams

        • +4.7% XPS.LN (XPS Pensions Group £3.82, +0.17) -- initiated buy at UBS

        • +4.2% FDEV.LN (Frontier Developments £3.47, +0.14) -- £10M share buyback

        • +4.2% IVA.FP (Inventiva €2.75, +0.11) -- $10M milestone payment from Sino Biopharm subsidiary CTTQ

        • +3.4% ZEAL.DC (Zealand Pharma DKK375.00, +12.20) -- initiated overweight at Barclays

        • +3.1% BCG.LN (Baltic Classifieds Group £3.51, +0.11) -- Peel Hunt upgrade

        • +2.9% ENT.LN (Entain £9.36, +0.26) -- BofA upgrade

        • +2.8% GLEN.LN (Glencore £3.07, +0.08) -- reinstated overweight at JPMorgan

        • +2.7% F3C.GR (SFC Energy €22.80, +0.60) -- strategic channel partnership with Connexa in USA

        • +2.6% KAMBI.SS (Kambi Group SEK137.80, +3.50) -- signs multi-year Turnkey Sportsbook partnership extension with LeoVegas Group

        • +2.5% OXB.LN (OXB £3.45, +0.09) -- initiated buy at Jefferies

      • Trading Lower:

        • -14.1% ARAMI.FP (Aramis Group €6.70, -1.11) -- profit warning

        • -12.8% ALZCUR.SS (AlzeCure Pharma SEK2.58, -0.38)

        • -11.3% SOLI.LN (Solid State £1.84, -0.24) -- FY earnings

        • -9.6% TGS.NO (TGS-NOPEC Geophysical Co. NOK79.85, -8.50) -- Q2 operational and financial update

        • -9.2% OPT.LN (Optima Health Plc (Great Britain) £1.92, -0.20) -- FY earnings

        • -8.3% VCT.LN (Victrex £7.23, -0.65) -- trading update; new CEO

        • -6.7% AB.FP (AB Science €1.43, -0.10) -- result of private placement

    • EU companies reporting tomorrow:

      • Earnings:

        • France: TFF Group (TFF.FP)

        • Nordics: Kongsberg Gruppen (KOG.NO), Investment AB Öresund (ORES.SS), HEBA Fastighets (HEBA.B.SS)

        • UK: Jet2 (JET2.LN), Zigup (ZIG.LN), Renold (RNO.LN), System1 Group (SYS1.LN)

      • Trading Update:

        • DACHs: Porsche (P911.GR), Volkswagen (VOW.GR) deliveries

        • UK: Hunting (HTG.LN), Galliford Try Holdings (GFRD.LN), Gym Group (GYM.LN)

      • Other: Cairn Homes (C5H.ID)

      • CMD/events: Oryzon Genomics (ORY.SM), ABN Amro (ABN.NA) pre-close

  • Data:

    • Economics:

      • Netherlands Jun CPI +3.1% y/y vs preliminary 3.1%

      • Germany May Trade Balance €18.4B vs consensus €18.1B and prior revised €15.7B from €14.6B

      • France May Trade Balance (€7.8B) vs consensus (€7.7B) and prior (€8.0B)

    • Markets:

      • WTI Crude (Aug 25): +$0.24 or +0.35% to $68.17

      • €-$ +0.0001 or +0.01% to 1.1710

      • £-$ (0.0031) or (0.23%) to 1.3570

      • €-£ +0.0019 to 0.8628

      • S&P 500 (0.05%)

      • Performance year-to-date

        • FTSE 100: +8.33%

        • DAX: +21.59%

        • CAC: +5.23%

        • MIB: +17.54%

        • Stoxx 600: +7.50%

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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