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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.64% to 8998.06, DAX (0.39%) to 24160.64, CAC40 (0.27%) to 7808.17, STOXX 600 (0.06%) to 546.99

Jul 14 ,2025

  • Synopsis:

    • European equity markets closed mixed Monday, off worst levels. Autos biggest decliner on US trade policy worries. Basic Resources, Tech, Industrials and Chemicals also weaker. Defensives the best performers amid flight to safety.

    • Tariffs remain the primary theme after Trump on Saturday threatened EU and Mexico with a 30% levy effective 1-Aug. Added this would be separate from sectoral tariffs. White House Economic Advisor Hassett affirmed Trump sees current EU concessions as insufficient. Talks appear set to continue for now as EU extended its suspension of countermeasures to the same deadline though policymakers preparing for a 'no deal' scenario. Latest developments add to list of tariff notifications from Trump, including a 35% rate on Canada last week and 50% on copper. Next key macro event set to be Tuesday's US CPI, corresponding to Fed Chair Powell's need for more information for resuming rate cuts and talk of a higher bar for further gains in US Treasuries after recent Fed repricing and positive performance in H1.

    • Focus in Europe remains on tariffs with united response lacking. EU Commission President von der Leyen said bloc would maintain "two-track approach" of preferring negotiations while preparing retaliatory measures. Merz pushing for diplomatic solution while Macron seeks stronger response. Macron also seeks stronger French defense budget. Beyond EU/US spat, press reports suggest UK's 10% tariffs may be permanent. Little on the data front. UK survey suggested cooling labour market. Sterling posted three-week low Monday after BoE Governor Bailey hinted at accelerated rate cuts if jobs market deteriorates faster than expected.

    • This week Eurozone less busy with just industrial production, German ZEW, trade data and final CPI for Jun. Busier in UK with BoE Governor Bailey and Chancellor Reeves delivering speeches at Mansion House on Tue, then CPI on Wed, and unemployment on Thur.

    • On the corporate front today, chemicals hit by guidance cuts at BASF (BASF.GR) and Brenntag (BNR.GR), as well as an impairment at K+S (SDF.GR). Autos under pressure on US trade policy worries and also Volvo Car (VOLCAR.B.SS) announced one-off SEK11.4B non-cash impairment charge to be recorded in Q2 of 2025. Banks outperformed.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Banks +0.59%, Personal Care Drug and Grocery Stores +0.55%, Utilities +0.52%, Health Care +0.48%, Food, Beverage and Tobacco +0.44%, Telecom +0.39%, Real Estate +0.19%,

      • Underperformers:

        • Autos & Parts (1.41%), Basic Resources (1.11%), Retail (1.02%), Energy(0.91%), Consumer Products and Services (0.81%), Chemicals (0.81%), Construct & Mtls (0.54%), Ind Goods & Svcs (0.41%), Technology (0.41%), Media (0.33%), Travel & Leisure (0.29%), Financial Svcs (0.09%)

    • Macro:

      • Trade / Tariffs

        • EU prepares counter-tariffs on €72B of US imports -- Telegraph

        • EU, South Korea seek US trade deals to ease tariff pain -- Reuters

        • EU and Indonesia choose openness and partnership with political agreement on CEPA -- link

      • UK

        • Rachel Reeves poised to force firms to pay more into staff pensions -- Times

        • UK labour market cooled rapidly in June, KPMG/REC survey shows -- Reuters

        • Bank of England could cut interest rates if  jobs market slows down -- Times

      • Russia

        • We're very, very unhappy with Russia' says Trump as he meets Nato chief -- BBC

        • Trump threatens 100% tariffs on Russia if no deal to end war within 50 days -- abc NEWS

    • Company news:

      • Notable Gainers

        • +13.2% NOTE.SS (NOTE SEK197.60, +23.00) -- Q2 earnings

        • +11.4% SCANFL.FH (Scanfil €10.72, +1.10) -- acquisition of MB Elettronica

        • +8.4% NORION.SS (Norion Bank SEK56.80, +4.40) -- Q2 earnings

        • +8.0% RECSI.NO (REC Silicon NOK2.42, +0.18) -- Anchor completes acquisition offer

        • +7.9% EAH.LN (Eco Animal Health Group £0.62, +0.05) -- FY earnings

        • +7.2% XVIVO.SS (Xvivo Perfusion SEK216.00, +14.60) -- DNB Carnegie upgrade

        • +7.0% GKP.LN (Gulf Keystone Petroleum £1.77, +0.12)

        • +6.6% COOR.SS (Coor Service Management Holding SEK46.90, +2.90) -- Q2 earnings

        • +5.7% ARJO.B.SS (Arjo SEK35.78, +1.92) -- Nordea upgrade

        • +5.2% AKVA.NO (AKVA Group NOK98.00, +4.80) -- contract

        • +5.0% BAMI.IM (Banco BPM €10.53, +0.50) -- Unicredit comments favourable court ruling

        • +4.6% SOFF.NO (Solstad Offshore NOK49.30, +2.15) -- Q2 earnings

        • +4.3% ACSO.LN (accesso Technology Group £4.17, +0.17) -- Peel Hunt upgrade

        • +3.7% KDEV.SS (Karolinska Development SEK0.99, +0.04) -- Modus Therapeutics completes enrollment in part 1 of phase 2a study with sevuparin

        • +3.6% FTK.GR (flatexDEGIRO €26.48, +0.92) -- preliminary Q2 / raises guidance

        • +3.4% IGR.LN (IG Design Group £0.77, +0.03) -- new debt facility

        • +3.1% THEP.FP (Thermador Groupe €82.40, +2.50) -- Oddo upgrade

        • +2.2% ABF.LN (Associated British Foods £20.93, +0.45) -- Panmure Liberum upgrade

        • +2.0% AZN.LN (AstraZeneca £106.56, +2.06) -- BaxHTN Phase III trial Baxdrostat reusults

        • +1.3% SBRE.LN (Sabre Insurance Group £1.51, +0.02)

      • Notable Decliners

        • -9.3% LIFCO.B.SS (Lifco SEK363.40, -37.20) -- Q2 earnings

        • -9.3% INWI.SS (Inwido SEK188.00, -19.20) -- Q2 earnings

        • -8.6% ALZCUR.SS (AlzeCure Pharma SEK2.88, -0.27)

        • -5.2% ZAL.GR (Zalando €27.12, -1.49) -- Morgan Stanley cuts target price

        • -5.1% SDF.GR (K+S AG €14.90, -0.80) -- to record a non-cash impairment loss in H1's consolidated balance sheet in accordance with IFRS

        • -4.5% LEI.GR (Leifheit €0.00, -0.75) -- reports preliminary Q2 earnings; guides FY

        • -4.4% VOLCAR.B.SS (Volvo Car SEK17.99, -0.84) -- announces one-off SEK11.4B non-cash impairment charge to be recorded in Q2 of 2025

        • -3.6% RCO.FP (Remy Cointreau €53.25, -2.00) -- US tariffs announcement

        • -2.7% AEDAS.SM (AEDAS Homes €21.80, -0.60) -- Neinor requests authorization to launch tender offer

        • -2.7% VOLO.SS (Volati SEK110.00, -3.00) -- Q2 earnings

        • -2.5% BMW.GR (Bayerische Motoren Werke €83.42, -2.16) -- US tariffs announcement

        • -2.1% MBG.GR (Mercedes-Benz Group €51.97, -1.14) -- US tariffs announcement

        • -1.9% VOW3.GR (Volkswagen €92.18, -1.80) -- US tariffs announcement

        • -1.8% TRYG.DC (Tryg DKK158.10, -2.85) -- ex-dividend

        • -1.5% MC.FP (LVMH Moet Hennessy Louis Vuitton €480.45, -7.25) -- LVMH brand Loro Piana put under court administration in Italy over worker exploitation -- Reuters

        • -1.1% RMS.FP (Hermes €2,409.00, -27.00) -- Jefferies downgrade

        • -0.2% FER.SM (Ferrovial €44.95, -0.11) -- Santander downgrade

        • -0.1% IF.IM (Banca Ifis €23.96, -0.02) -- re-opened offer period ends with 92.488% of illimity Bank share capital

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: TomTom (TOM2.NA)

        • DACHs: Zuger Kantonalbank (ZUGER.SW), ABOUT YOU Holding (YOU.GR), EuroTeleSites (7YF.GR), Bastei Lübbe (BST.GR)

        • Finland: Elisa (ELISA.FH), Enento Group (ENENTO.FH)

        • Norway: Aker BP (AKRBP.NO), Norske Skog (NSKOG.NO), Aker Horizons (AKH.NO), Aker Carbon Capture (ACC.NO)

        • Sweden: Ericsson (ERIC.B.SS), Indutrade (INDT.SS), Addtech (ADDT.B.SS), Fastighets Balder (BALD.B.SS), Castellum (CAST.SS), Thule Group (THULE.SS), AddLife (ALIF.B.SS), Peab (PEAB.B.SS), BONESUPPORT HOLDING (BONEX.SS), AFRY (AFRY.SS), Bufab (BUFAB.SS), Scandic Hotels Group (SHOT.SS), AQ Group (AQ.SS), NCC (NCC.B.SS), Dometic Group (DOM.SS), Nederman Holding (NMAN.SS), Rejlers (REJL.B.SS), Ependion (EPEN.SS), FormPipe Software (FPIP.SS), Nelly Group (NELLY.SS), Bactiguard Holding (BACTI.B.SS), BE Group (BEGR.SS), CDON (CDON.SS)

        • UK: Brickability Group (BRCK.LN), Gateley (Holdings) (GTLY.LN), RM (RM.LN), Cake Box Holdings (CBOX.LN)

      • Trading Update:

        • DACHs: Partners Group Holding (PGHN.SW)

        • France: StreamWIDE (ALSTW.FP), CATANA Group (ALCAT.FP)

        • UK: Experian (EXPN.LN), Barratt Redrow (BTRW.LN), B&M European Value Retail (BME.LN), Integrafin Holdings (IHP.LN), Atalaya Mining (ATYM.LN), Robert Walters (RWA.LN), Eagle Eye Solutions Group (EYE.LN)

      • CMD/events: Bayerische Motoren Werke (BMW.GR) day 1 of 2

  • Data:

    • Economics:

      • Finland Jun CPI +0.2% y/y vs consensus +0.4% and prior +0.5%

      • Sweden Jun CPI +0.7% y/y vs preliminary +0.8%

      • Switzerland Jun PPI (0.7%) y/y vs consensus (0.6%) and prior (0.7%)

    • Markets:

      • WTI Crude (Aug 25): ($1.06) or (1.55%) to $67.39

      • €-$ +0.0024 or +0.21% to 1.1695

      • £-$ (0.0027) or (0.20%) to 1.3460

      • €-£ +0.0035 to 0.8688

      • S&P 500 +0.08%

      • Performance year-to-date

        • FTSE 100: +10.09%

        • DAX: +21.35%

        • CAC: +5.79%

        • MIB: +17.55%

        • Stoxx 600: +7.76%

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.
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