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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.43%) to 9081.44, DAX (1.02%) to 23970.36, CAC40 (0.43%) to 7800.88, STOXX 600 (0.22%) to 548.76

Jul 28 ,2025

  • Synopsis:

    • European equity markets closed lower, welloff best levels. Energy, Tech, an Real Estate the best performers; Media, beverages and autos, biggest decliners. Follows last week's positive close. Asian equity markets mixed. Nikkei down after last week's climb towards record highs. Hang Seng lead China markets, though gains relatively modest. ASX and Kopi saw modest gains.

    • Trade deal momentum continues after President Trump announced US-EU deal establishing 15% tariff on most EU exports, including autos. However, details still lacking and disagreements remain on steel, aluminum and pharma tariffs. Attention now centering on US-China negotiations as Treasury Secretary Bessent and China Vice Premier He Lifeng meet in Stockholm on Monday. SCMP sources suggest two sides expected to agree to another 90-day tariff deadline extension. Fading prospects of US-India deal by deadline, tough both side sound positive on negotiations. South Korea to resume talks this week.

    • Quiet macro data calendar in Europe. UK CBI Distributive Trade survey pointed to weak retail sales picture for July, despite better-than-expected reading. Ireland GDP unexpectedly contracted in Q2. EY revised up UK GDP forecast after strong Q1 output, though sees weak momentum for remainder of the year and in 2026.

    • Meanwhile, more analysis on UK fiscal position. Press highlighted potential savings for Treasury if BoE slows pace of bond sales. Bridgewater Associates found Dalio warned the UK is a in a "debt doom loop" and government need to raise taxes and cut spending simultaneously to bring down borrowing.

    • M&A news dominate the headlines: MFE-MediaForEurope (MFEB.IM) raised its offer for ProSiebenSat.1 Media (PSM.GR) whilst - in the pharna sector - Nordic Capital and Permira offered to acquire Bavarian Nordic A/S (BAVA.DC) for DKK 233/share in cash; in France, LVMH Moet Hennessy Louis Vuitton (MC.FP) is reportedly in talks to sell Marc Jacobs for $1B.

    • On the reporting front, Heineken (HEIA.NA) reported H1 before the open, with Forvia (FRVIA.FP), Nordex (NDX1.GR) and Maisons du Monde (MDM.FP) among few other names updating investors.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 28-Jul to 01-Aug attached) AstraZeneca (AZN.LN), Barclays (BARC.LN), Games Workshop Group (GAW.LN), Ferrovial (FER.SM),Redcare Pharmacy (RDC.GR), Siltronic (WAF.GR), Koninklijke Philips (PHIA.NA), L'Oreal (OR.FP), Air Liquide (AI.FP), Orange (ORA.FP), Kering (KER.FP), and Amundi (AMUN.FP) will be amongst other names to update investors, whilst the macro-calendar releases will include Spain Q2 preliminary GDP, Jun retail sales, UK Jun mortgage approvals, M4 money supply, Sweden Q2 preliminary GDP, Norway Jun retail sales, Belgium Q2 preliminary GDP.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Oil & Gas +1.11%, Technology +0.60%, Real Estate +0.42%, Health Care +0.25%, Travel & Leisure +0.15%, Banks +0.01%,

      • Underperformers:

        • Media (3.05%), Food & Beverage (1.98%), Autos & Parts (1.76%), Telecom (1.27%), Retail (0.75%), Ind Goods & Svcs (0.58%), Construct & Mtls (0.57%), Utilities (0.49%), Chemicals (0.46%), Basic Resources (0.39%), Insurance (0.34%), Financial Svcs (0.28%), Persnl & HHold Goods (0.26%),

    • Macro/Peripheral markets:

      • Geopolitics

        • Trump sets new deadline of '10 or 12 days' for Putin to agree to Ukraine deal - BBC

        • Thailand and Cambodia agree to 'immediate and unconditional' ceasefire - The Guardian

        • OPEC+ Repeats Call for Quota Discipline Before Supply Decision - Bloomberg

        • Trump Proposes Gaza 'Food Centers,' Says Starvation Is Real - Bloomberg

      • EU

        • Remarks by Commissioner Šefčovič on the trade deal between the EU and the US - release

        • EU admits it can't guarantee $600B promise to Trump - Politico

        • ECB's Kazimir says big unexpected economic shift needed for September rate cut - Reuters

      • UK

        • Trump tells Starmer: Slash taxes and migration to beat Farage - The Telegraph

        • UK National Health Service Productivity Lags as Doctors Strike - Bloomberg

      • France

        • French PM slams EU-US trade deal as 'submission' to Trump - Politico

      • Germany

        • German government to approve 2026 budget with record investment and borrowing surge, sources say - Reuters

        • Germany's BDI said the EU-USA trade agreement would have "considerable negative repercussions'' - BDI

        • Klingbeil plans with historically large budget hole - Handelsblatt

      • Greece

        • Constitutional reform process expected to begin later this year - ekathimerini

    • Company news:

      • Trading Higher:

        • +43.8% CWR.LN (Ceres Power Holdings £1.46, +0.44) -- Doosan Fuel Cell commences mass market production of fuel cell stacks using Ceres' solid oxide technology

        • +21.7% IMMNOV.SS (Immunovia SEK0.61, +0.11)

        • +12.7% FRVIA.FP (Forvia €11.53, +1.31) -- H1 earnings

        • +11.9% PSM.GR (ProSiebenSat.1 Media €7.88, +0.84) -- MFE-MediaForEurope raises offer to €4.48/share in cash and 1.3 MDE A shares; Kepler Cheuvreux recommends ProSiebenSat.1 Media holders accept offer

        • +11.1% ALDVI.FP (Advicenne €1.42, +0.14) -- marketing authorization (MA) and reimbursement status for Sibnayal in the Kingdom of Saudi Arabia

        • +9.1% SOLG.LN (SolGold £0.09, +0.01) -- multiple high-grade intervals at Tandayama-América

        • +7.5% HEX.NO (Hexagon Composites NOK18.32, +1.28) -- fuel systems order

        • +7.4% OXB.LN (OXB £4.17, +0.29) -- H1 trading update

        • +5.8% TRE.SM (Tecnicas Reunidas €21.76, +1.18) -- convertible FEED contract in Saudi Arabia

        • +5.2% AVIO.IM (Avio €28.20, +1.40) -- successfully puts in orbit CO3D and MICROCARB satellites

        • +4.9% ASM.NA (ASM International €444.40, +20.90) -- sector move

        • +4.7% LAND.SW (Landis+Gyr Group CHF71.50, +3.20) -- Berenberg upgrade

        • +4.7% TNG.FP (Transgene €0.89, +0.04) -- poster presentation on armed oncolytic virus BT-001

        • +4.3% BESI.NA (BE Semiconductor Industries €122.60, +5.05) -- sector move

        • +3.8% ASML.NA (ASML Holding €625.40, +23.00) -- sector move

        • +2.8% WIHN.SW (WISeKey International Holding CHF9.90, +0.27) -- MoU for a strategic partnership on development and deployment of ultra-secure, quantum-resilient nanosatellite systems for Internet of Things (IoT) applications

        • +2.6% SAB.SM (Banco de Sabadell €3.03, +0.08) -- Banco de Sabadell says acquisition offer by BBVA remains too low; must either substantially improve offer or withdraw it - Bloomberg

        • +2.4% STMPA.FP (STMicroelectronics €22.87, +0.54) -- sector move

        • +2.3% REY.IM (Reply €139.70, +3.10) -- Oddo upgrade

        • +2.2% BAVA.DC (Bavarian Nordic A/S DKK240.00, +5.20) -- cash takeover offer from Nordic Capital and Permira at DKK 233/share

        • +1.9% AM.FP (Dassault Aviation €270.20, +5.00) -- Kepler Cheuvreux upgrade

        • +1.9% INRN.SW (Interroll Holding CHF2,470.00, +45.00) -- Kepler Cheuvreux upgrade

        • +1.7% DOTD.LN (dotDigital Group £0.74, +0.01) -- FY trading update

      • Trading Lower:

        • -24.6% STVG.LN (STV Group £1.45, -0.47) -- FY trading update

        • -14.4% OCN.LN (Ocean Wilsons Holdings £12.40, -2.10) -- acqusition by Hansa Investment Co.

        • -8.0% HEIA.NA (Heineken €71.46, -6.20) -- H1 earnings

        • -7.7% HEIO.NA (Heineken €61.30, -5.10) -- H1 earnings

        • -6.0% LOOMIS.SS (Loomis SEK379.00, -24.60) -- SEB downgrade

        • -5.4% BIOVIC.B.SS (Biovica International SEK0.68, -0.04)

        • -5.4% CASH.SM (Prosegur Cash €0.80, -0.05) -- H1 earnings

        • -4.7% UHR.SW (Swatch Group CHF150.85, -7.50) -- HSBC downgrade

        • -4.3% ITV.LN (ITV £0.82, -0.04) -- Estimated weekend box office revenues in US, Canada $183.3M, (35.7%) y/y - Box Office Mojo

        • -4.1% ETTE.FH (Etteplan €0.00, -0.45) -- prelim Q2 earnings; lowers FY25 guidance

        • -3.4% RCO.FP (Remy Cointreau €57.80, -2.05) -- Barclays downgrade

        • -2.5% NDX1.GR (Nordex €20.74, -0.52) -- Q2 earnings

        • -2.1% MFEB.IM (MFE-MEDIAFOREUROPE €3.71, -0.08) -- raises offer

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Koninklijke Philips (PHIA.NA), Allfunds Group (ALLFG.NA), Basic-Fit (BFIT.NA), Havas (HAVAS.NA)

        • France: L'Oreal (OR.FP), Air Liquide (AI.FP), Orange (ORA.FP), Kering (KER.FP), Amundi (AMUN.FP), Gaztransport & Technigaz (GTT.FP), Verallia (VRLA.FP), Imerys (NK.FP), TF1 (TFI.FP), Clariane (CLARI.FP), M6-Metropole (MMT.FP), Tarkett (TKTT.FP), Thermador Groupe (THEP.FP), SMCP (SMCP.FP), Euroapi (EAPI.FP)

        • Germany: Redcare Pharmacy (RDC.GR), Siltronic (WAF.GR), TeamViewer (TMV.GR), Drägerwerk (DRW3.GR), Takkt (TTK.GR)

        • Italy: TERNA Rete Elettrica Nazionale (TRN.IM), Infrastrutture Wireless Italiane (INW.IM), Banca Generali (BGN.IM), Amplifon (AMP.IM), Brembo (BRE.IM), Cementir Holding (CEM.IM), Piaggio & C (PIA.IM)

        • Other: Bank of Ireland Group (BIRG.ID)

        • Portugal: Corticeira Amorim (COR.PL)

        • Spain: Ferrovial (FER.SM), Endesa (ELE.SM), Unicaja Banco (UNI.SM), Grifols (GRF.SM), Prosegur Compania de Seguridad (PSG.SM)

        • Sweden: Storytel (STORY.B.SS), Tobii (TOBII.SS)

        • Switzerland: Sika Group (SIKA.SW), Logitech International (LOGN.SW), SIG Combibloc Group (SIGN.SW), Forbo Holding (FORN.SW), LEM Holding (LEHN.SW)

        • UK: AstraZeneca (AZN.LN), Barclays (BARC.LN), Games Workshop Group (GAW.LN), ConvaTec Group (CTEC.LN), UNITE Group (UTG.LN), Croda International (CRDA.LN), Shaftesbury Capital (SHC.LN), Inchcape (INCH.LN), Canal+ (CAN.LN), Morgan Sindall Group (MGNS.LN), Greggs (GRG.LN), Forterra (FORT.LN), Restore (RST.LN), Essentra (ESNT.LN), Sthree (STEM.LN), NWF Group (NWF.LN), Staffline Group (STAF.LN)

      • Trading Update:

        • DACHs: R&S Group Holding (RSGN.SW)

        • France: Compagnie des Alpes (CDA.FP), Inventiva (IVA.FP), SergeFerrari Group (SEFER.FP)

        • UK: A.G. BARR (BAG.LN), Tristel (TSTL.LN)

      • CMD/events: Tristel (TSTL.LN)

  • Data:

    • Economics:

      • Ireland Q2 preliminary GDP +12.5% y/y vs consensus +15.1% and prior +20.0%

      • UK Jul CBI Distributive Trades (34) vs consensus (26) and prior (46)

      • Denmark Jun Retail Sales +1.4% y/y vs consensus +3.4% and prior +4.0%

      • Sweden Jun Trade Balance SEK13.3B vs consensus SEK1.0B and prior revised SEK5.0B from SEK3.9B

    • Markets:

      • WTI Crude (Sep 25): +$1.17 or +1.80% to $66.33

      • €-$ (0.0137) or (1.17%) to 1.1621

      • £-$ (0.0029) or (0.22%) to 1.3402

      • €-£ (0.0083) to 0.8671

      • S&P 500 +0.08%

      • Performance year-to-date

        • FTSE 100: +11.11%

        • DAX: +20.40%

        • CAC: +5.69%

        • MIB: +19.15%

        • Stoxx 600: +8.10%

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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