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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.08%) to 9130.04, DAX (0.81%) to 24065.47, CAC40 (1.14%) to 7771.97, STOXX 600 (0.76%) to 546.04

Jul 31 ,2025

  • Synopsis:

    • European equity markets closed lower, near worst levels. Insurance, banks outperformer; Basic resources, auto/parts and food/beverage the biggest laggards. Asian markets mostly weaker while US equity markets are firmer in midday trading. Bond yields mixed. Treasuries unchanged to firmer at the long end; comes after yields backed up on Wednesday. Gilts off ~3 bps at 4.57%. Bund little changed at 2.70% Dollar stronger across the board, on track for best week since Oct-2024. Oil down. Gold little changed. Industrial metals lower. NY copper extending losses.

    • Global attention on trade developments and central bank policy. Trump announced agreement with South Korea that features a 15% tariff rate. Several other deals expected to be announced before Friday's reciprocal tariff deadline Trump also said he expects a very fair deal with China and is scheduled to talk to Mexican president today. EU official said EU wine and spirits to face 15% tariffs versus current rate of 10% until negotiators from both sides agree a different deal. Hawkish Powell press conference takeaways, dampened Fed rate cut expectations, hawkish-leaning BoJ hold, ECB rate cut expectations below 50% probability.

    • Amidst a busy macroeconomics calendar, inflation updates from Germany, France and Italy steady-to-firmer ahead of tomorrow's Eurozone update. Eurozone unemployment rate came in lower than expected. German import prices declined, while employment remained stable. UK business barometer hit highest level in 10-years in contrast to other recent downbeat confidence readings. Elsewhere, British Retail Consortium warned UK food prices to hit 6% by year-end, which might limit the BoE's ability to cut rates.

    • Busy on the earnings front as well; out of France, Schneider Electric, Sanofi, Airbus SE (last night), Legrand, JCDecaux, Accor, Ipsen and Arkema were among few other companies from the region to update investors; DACH names included BMW, Heidelberg Materials, Puma, HENSOLDT, Holcim, Clariant, ams-OSRAM and Heidelberger Druckmaschinen. In the banking sector, Societe Generale, Banco Bilbao Vizcaya Argentaria, Standard Chartered, ING Groep and Credit Agricole reported whilst - in the airline segment - Air France-KLM and Lufthansa issued their most recent numbers. In the UK, Shell, Unilever, Rolls-Royce, London Stock Exchange Group and Next issued earnings/trading updates. Elsewhere, Anheuser-Busch InBev and Leonardo published their Q2/H1 reports.

    • In M&A news, JD.com (JD) made a voluntary public takeover offer and strategic investment partnership with CECONOMY (CEC.GR), Brookfield Wealth Solutions (BNT.CN) acquired Just Group (JUST.LN) for 220p/sh in cash, in deal worth £2.4B (~$3.18B), Euronext (ENX.FP) announces submission of voluntary share exchange offer to acquire all shares of ATHEX (EXAE.GA).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Insurance +0.55%, Banks +0.21%, Real Estate +0.08%, Oil & Gas +0.05%, Utilities (0.12%), Media (0.23%), Ind Goods & Svcs (0.28%), Telecom (0.51%)

      • Underperformers:

        • Autos & Parts (3.94%), Basic Resources (2.68%), Food & Beverage (2.57%), Financial Svcs (1.64%), Health Care (1.51%), Persnl & HHold Goods (1.23%), Travel & Leisure (1.08%), Technology (1.07%), Construct & Mtls (1.07%), Chemicals (0.94%), Retail (0.92%)

    • Macro:

      • ECB:

        • Markets increasingly confident ECB is done easing: Bloomberg

      • BoE:

        • Next week's BoE decision like to result in another split vote: Reuters

      • UK:

        • LLoyds Bank UK business confidence barometer at highest in 10 years: CityAM

        • UK retailers warn food inflation to hit 6% by Christmas: A survey by British Retail Consortium

      • Germany:

        • German data showed inflation remained unchanged in key German states: Reuters

        • German import prices decline further in July as energy prices retreat: DeStatis

      • France:

        • French inflation remained stable at 0.9% in July, below the ECB's 2% target, supporting potential interest rate cuts: Bloomberg

      • Geopolitics:

        • Despite US-EU deal, European wine and spirits will face a 15% tariff in the US from 1-Aug until negotiations conclude: Reuters

        • EU-Israel tensions rise over Gaza crisis as Merz faces pressure to shift stance: Politico

        • EU nations seek €127B in loans to bolster defense and aid Ukraine: Politico

    • Peripheral markets:

      • Italy:

        • Opposition party warns against involving SpaceX in satellite update: Reuters

      • Poland:

        • Inflation returns to target, boding well for rate cuts: Bloomberg

        • Shelves costly tax promise amid strained budget: Bloomberg

    • Company news:

      • Notable Gainers

        • +67.5% JUST.LN (Just Group £2.11, +0.85) -- Brookfield Wealth Solutions (BNT.CN) to acquire Just Group for 220p/share in cash, or £2.4B ($3.18B) total

        • +15.1% JTC.LN (JTC £9.46, +1.24) -- trading update; to acquire Kleinwort Hambros Trust Company Limited for total consideration of £20M in cash

        • +13.6% PHARM.NA (Pharming Group €0.96, +0.12) -- Q2 earnings

        • +11.5% MRN.FP (Mersen €24.20, +2.50) -- H1 earnings; new CEO

        • +11.1% STJ.LN (St. James's Place £13.00, +1.30) -- H1 earnings; new share buyback

        • +9.0% RTO.LN (Rentokil Initial £3.78, +0.31) -- H1 earnings

        • +8.9% AKER.NO (Aker ASA NOK713.00, +58.00) -- project launch

        • +8.4% RKH.LN (Rockhopper Exploration £0.78, +0.06) -- to place up to 198.2M shares and 49.6M warrants at 53p/share; plans to launch up-to-€8M open offer

        • +8.0% INF.FP (Infotel €40.50, +3.00) -- prelim Q2 revenue; Oddo, Gilbert Dupont and Portzamparc upgrades

        • +7.3% BBVA.SM (Banco Bilbao Vizcaya Argentaria €14.56, +0.99) -- Q2 earnings

        • +7.3% ELM.LN (Elementis £1.73, +0.12) -- H1 earnings

        • +7.1% RR.LN (Rolls-Royce Holdings £10.59, +0.71) -- H1 earnings; raises FY guidance

        • +6.9% MOVE.SW (Medacta Group CHF148.80, +9.60) -- prelim H1 earnings; raises FY guidance

        • +6.5% GLE.FP (Societe Generale €55.78, +3.42) -- Q2 earnings

        • +6.0% VINO.LN (Virgin Wines UK £0.62, +0.04) -- trading update

        • +5.7% TGYM.IM (Technogym €13.53, +0.73) -- earnings

        • +5.5% MED.GR (Mediclin €3.06, +0.16) -- earnings

        • +5.3% DRX.LN (Drax Group £7.14, +0.36) -- H1 earnings

        • +4.8% ARCAD.NA (ARCADIS €44.06, +2.02) -- Q2 earnings

        • +4.1% BWB.GR (Baader Bank €5.10, +0.20) -- H1 earnings

        • +4.1% BCP.PL (Banco Comercial Portugues €0.72, +0.03) -- H1 earnings

        • +3.9% FNTL.LN (Fintel £2.38, +0.09) -- trading update

        • +3.7% HAG.GR (HENSOLDT €96.05, +3.40) -- H1 earnings

        • +3.4% SBRE.LN (Sabre Insurance Group £1.53, +0.05) -- H1 earnings

        • +3.3% SAF.FP (Safran €290.10, +9.30) -- H1 earnings; raises FY guidance

        • +3.3% G1A.GR (GEA Group €63.35, +2.05) -- raises FY guidance

        • +3.1% KARN.SW (Kardex Holding CHF314.00, +9.50) -- H1 earnings

        • +2.9% ONTEX.BB (Ontex Group €6.85, +0.19) -- Q2 earnings

        • +2.5% UCB.BB (UCB €190.00, +4.60) -- H1 earnings; raises FY guidance

        • +2.4% SYENS.BB (Syensqo €70.52, +1.66) -- Q2 earnings; launches share buyback

        • +2.1% LR.FP (Legrand €130.30, +2.65) -- H1 earnings

        • +2.0% EXENS.FP (Exosens €40.90, +0.80) -- new share buyback

        • +2.0% BEKB.BB (Bekaert €36.20, +0.70) -- H1 earnings; share buyback

        • +1.8% KOJAMO.FH (Kojamo €11.14, +0.20) -- lowers guidance; buyback; completes residential properties sale

        • +1.5% DLG.IM (De'Longhi €28.82, +0.42) -- earnings

      • Notable Decliners

        • -21.8% COTN.SW (COMET Holding CHF207.20, -57.60) -- H1 earnings

        • -19.5% ATS.AV (AT & S Austria Technologie & Systemtechnik €17.96, -4.34) -- Q1 earnings

        • -11.7% MNDI.LN (Mondi £10.32, -1.37) -- H1 earnings

        • -11.1% ABI.BB (Anheuser-Busch InBev €51.66, -6.46) -- Q2 earnings

        • -9.3% ALL.LN (Atlantic Lithium £0.08, -0.01) -- Q4 update

        • -9.1% AC.FP (Accor €44.90, -4.50) -- H1 earnings; new share buyback

        • -8.8% RWA.LN (Robert Walters £1.45, -0.14) -- H1 earnings

        • -7.5% ANDR.AV (Andritz €61.70, -5.00) -- Q2 earnings

        • -7.0% SAN.FP (Sanofi €79.56, -5.96) -- Q2 earnings

        • -6.8% EN.FP (Bouygues €36.33, -2.65) -- H1 earnings; new CFO

        • -6.5% LEHN.SW (LEM Holding CHF664.00, -46.00) -- Berenberg downgrade

        • -6.1% SUR.GR (Surteco Group €14.55, -0.95) -- H1 earnings

        • -5.8% PETS.LN (Pets At Home Group £2.29, -0.14) -- trading update; lowers FY guidance

        • -5.7% PLNW.FP (Planisware €21.55, -1.30) -- H1 earnings

        • -5.7% FDR.SM (Fluidra €22.14, -1.34) -- H1 earnings

        • -5.5% CRBN.NA (Corbion €16.72, -0.97) -- Q2 earnings

        • -5.0% ADP.FP (Aeroport de Paris €105.60, -5.50) -- H1 earnings

        • -4.8% IVG.IM (Iveco Group €18.11, -0.91) -- Tata Motors to acquire Iveco Group for ~ €3.8B, excluding Iveco's defence business and net proceeds from the defence business separation; Q2 earnings; Oddo downgrade

        • -4.5% VIB3.GR (Villeroy & Boch €17.05, -0.80) -- H1 earnings

        • -4.4% DEC.FP (JCDecaux €14.55, -0.67) -- H1 earnings

        • -4.4% OUT1V.FH (Outokumpu €3.28, -0.15) -- Q2 earnings

        • -4.2% AMS.SW (ams-OSRAM CHF10.86, -0.48) -- Q2 earnings

        • -4.0% MLP.GR (MLP €8.45, -0.35) -- earnings

        • -3.8% HHFA.GR (Hamburger Hafen und Logistik €20.30, -0.80) -- new CEO

        • -3.7% ARIS.IM (Ariston Holding €4.58, -0.17) -- earnings

        • -3.4% BAN.IM (BasicNet €7.18, -0.25) -- earnings

        • -2.9% NEXI.IM (Nexi SpA €5.03, -0.15) -- Q2 earnings

        • -2.9% ENAV.IM (ENAV €3.83, -0.12) -- earnings

        • -2.8% APAM.NA (Aperam €25.84, -0.74) -- Q2 earnings

        • -2.7% MT.NA (ArcelorMittal €27.50, -0.75) -- Q2 earnings

        • -2.4% SPEC.LN (Inspecs Group £0.42, -0.01) -- trading update

        • -1.8% AIXA.GR (Aixtron €14.80, -0.27) -- Q2 earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Umicore (UMI.BB), Fugro (FUR.NA), Brunel International (BRNL.NA)

        • DACHs: Daimler Truck Holding (DTG.GR), Evonik Industries (EVK.GR), DMG MORI (GIL.GR), MAX Automation (MXHN.GR), CENIT (CSH.GR), Erste Group Bank (EBS.AV)

        • France: AXA (CS.FP), ENGIE (ENGI.FP), Believe (BLV.FP), ATOS (ATO.FP), Parrot (PARRO.FP)

        • Nordics: BW Energy (BWE.NO), XXL (XXL.NO)

        • Ireland: AIB Group (A5G.ID)

        • Southern Europe: Jeronimo Martins (JMT.PL), Talgo (TLGO.SM), ERG (ERG.IM), Carel Industries (CRL.IM), Banca Ifis (IF.IM), Cairo Communication (CAI.IM), Biesse (BSS.IM), FNM (FNM.IM), Banca Sistema (BST.IM), Aeffe (AEF.IM)

        • UK: International Consolidated Airlines Group (IAG.LN), Intertek Group (ITRK.LN), Pearson (PSON.LN), Melrose Industries (MRO.LN), IMI (IMI.LN)

      • Trading Update:

        • France: Bonduelle (BON.FP)

        • UK: National Atomic Company Kazatomprom (KAP.LN)

  • Data:

    • Economics:

      • Eurozone Jun Unemployment Rate 6.2% vs consensus 6.3% and prior revised 6.2% from 6.3%

      • Germany Jul

        • Prelim CPI +2.0% y/y vs cons +1.9% and prior +2.0%; +0.3% m/m vs cons +0.2% and prior 0.0%

          • EU Harmonised: +1.8% y/y vs cons +1.8% and prior +2.0%; +0.4% m/m vs cons +0.4% and prior +0.1%

        • Unemployment Change +2K vs consensus +15K and prior +11K

          • Unemployment Rate 6.3% vs consensus 6.4% and prior 6.3%

      • Italy

        • Jun Unemployment Rate 6.3% vs cons 6.4% and prior 6.5%

        • Jun PPI +2.5% y/y vs consensus +0.6% and prior +1.7%; +1.5% m/m vs cons (0.4%) and prior (0.7%)

        • Jul Prelim CPI +1.7% y/y vs cons +1.5% and prior +1.7%; +0.4% m/m vs cons +0.1% and prior +0.2%

          • EU Harmonised: +1.7% y/y vs cons +1.6% and prior +1.8%; (1.0%) m/m vs cons (1.0%) and prior +0.2%

      • France

        • Jul Prelim CPI +1.0% y/y vs cons +1.0% and prior +1.0%; +0.2% m/m vs cons +0.3% and prior +0.4%

          • EU Harmonised: +0.9% y/y vs cons +0.8% and prior +0.9%; +0.3% m/m vs cons +0.2% and prior +0.4%

        • Jun PPI +0.2% y/y vs cons +0.2% and prior revised 0.0% from +0.2%; (0.2%) m/m vs cons (0.3%) and prior revised (0.9%) from (0.8%)

      • Switzerland Jun Retail Sales +3.8% y/y vs cons +0.4% and prior revised +0.3% from 0.0%; +1.6% m/m vs cons +0.2% and prior (0.6%)

      • Ireland Jul prelim HICP +1.6% y/y vs cons +1.7% and prior +1.6%; +0.2% m/m vs cons +0.3% and prior +0.5%

      • Portugal Jul Prelim CPI +2.6% y/y vs cons +2.3% and prior +2.4%; (0.4%) m/m vs cons (0.7%) and prior +0.1%

    • Markets:

      • WTI Crude (Sep 25): ($1.23) or (1.76%) to $68.77

      • €-$ +0.0040 or +0.35% to 1.1445

      • £-$ (0.0005) or (0.04%) to 1.3231

      • €-£ +0.0032 to 0.8649

      • S&P 500 +0.42%

      • Performance year-to-date

        • FTSE 100: +11.71%

        • DAX: +20.88%

        • CAC: +5.30%

        • MIB: +19.90%

        • Stoxx 600: +7.57%

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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