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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.24% to 9164.31, DAX +0.33% to 23924.36, CAC40 +0.18% to 7635.03, STOXX 600 (0.06%) to 541.07

Aug 06 ,2025

  • Synopsis:

    • European indices ended mostly higher. In trade/tariffs developments, President Trump repeated a threat to substantially hike India tariffs and also threatened 35% tariffs on the EU if it fails to honour commitments. Key details remain unresolved, including when US tariffs on European cars will drop from 27.5% to 15% and which products qualify for zero-tariff exemptions. Trump again said that a China deal is very close and flagged meeting with Xi by year-end. In other news, Russia said to be considering Ukraine air-truce offer to Trump to avoid secondary sanctions. Meanwhile in EU politics, German economy ministry announced government preparing to launch €100B investment fund in strategic sectors, such as defense, energy and critical raw materials

    • In macro-news, German factory orders much weaker than forecast in June. Eurozone construction PMI weakens in July and remains deep in contractionary territory. German economy ministry announced government preparing to launch €100B investment fund in strategic sectors, such as defense, energy and critical raw materials. UK think tank NIESR said Chancellor Reeves will need to find £50B to cover fiscal gap and reinstate £9.9B headroom. Highlighted she is likely to be forced to break manifesto pledge on no change to VAT or income taxes. More analysis shows many company directors leaving UK since end of tax regime for non-doms and increase in other wealth taxes. Government looking at fresh tax grab on private schools.

    • Healthcare sector under pressure, at fresh 3-month lows, from two significant US policy developments creating headwinds for European pharmaceutical companies invested in vaccine development and US market access. Biden Administration's Biomedical Advanced Research and Development Authority (BARDA) announced termination of 22 mRNA vaccine development investments, citing inadequate protection against upper respiratory infections including COVID and flu (Guardian). Decision represents fundamental shift in federal vaccine development priorities, directly impacting major players including SAN.FP and AZN.LN who had partnered with BARDA. Compounding challenges, President Trump outlined aggressive tariff plans targeting pharmaceutical imports, with rates potentially escalating to 250% over 18 months. Trump specifically referenced countries like Ireland and China that "make a fortune with pharmaceuticals," emphasizing goal to boost domestic production. Despite EU's recent framework agreement claiming 15% tariff cap, Trump's comments suggest pharmaceuticals may face significantly higher rates under Section 232 national security investigations. Healthcare sector has already shown vulnerability with Ireland's pharmaceutical sector representing a substantial portion of US exports.

    • In corporate news, amidst a busy morning in terms of earnings, several DACH companies reported, including Siemens Energy (ENR.GR) Fresenius (FRE.GR), Zalando (ZAL.GR), Beiersdorf (BEI.GR), Bayer (BAYN.GR) and Commerzbank (CBK.GR). In the Benelux region, ABN AMRO Bank (ABN.NA) and Ahold Delhaize (AD.NA) posted Q2 numbers. Out of the Nordics, Novo Nordisk (NOVO.B.DC) and Sampo (SAMPO.FH) are also out with Q2 earnings. In Italy, BFF Bank SpA (BFF.IM) and Banco BPM (BAMI.IM) are out with results. In M&A news, in the last few mintues, the FT reported that Novartis (NOVN.SW) is considering the acquisition of Avidity Biosciences (RNA), whilst - this morning - the EU cleared the Baloise (BALN.SW) and Helvetia (HELN.SW) merger

    • Looking ahead to tomorrow's calendars, Siemens (SIE.GR), Deutsche Telekom (DTE.GR), Allianz (ALV.GR), Rheinmetall (RHM.GR), Uniper (UN0.GR), Merck KGaA (MRK.GR), Henkel (HEN3.GR), GEA Group (G1A.GR), Genmab (GMAB.DC), Maersk (MAERSK.B.DC), Harvia (HARVIA.FH), Unipol Gruppo (UNI.IM), CTP NV (CTPNV.NA), SBM Offshore (SBMO.NA), Shelf Drilling (SHLF.NO), Shelf Drilling North Sea (SDNS.NO), S.D. Standard ETC (SDSD.NO), REC Silicon (RECSI.NO), Zurich Insurance Group (ZURN.SW), Swisscom (SCMN.SW), Sandoz Group (SDZ.SW), Galenica (GALE.SW), lastminute.com (LMN.SW), InterContinental Hotels Group (IHG.LN), WPP Group (WPP.LN), Hikma Pharmaceuticals (HIK.LN) and Spectris (SXS.LN) will be among many other names updating investors. Macro-updates include Germany Jun trade balance and industrial production, Switzerland Jul unemployment rate, France Jun trade balance and UK Jul house price index

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers: Insurance +1.33%, Oil & Gas +1.27%, Banks +1.10%, Real Estate +1.09%, Financial Svcs +0.84%, Construct & Mtls +0.42%, Utilities +0.31%, Ind Goods & Svcs +0.17%, Telecom +0.13%, Travel & Leisure +0.04%, Basic Resources +0.00%

      • Underperformers: Health Care (2.84%), Media (0.85%), Chemicals (0.60%), Technology (0.59%), Retail (0.44%), Autos & Parts (0.24%), Food & Beverage (0.20%), Persnl & HHold Goods (0.16%)

    • Macro:

      • Spain scraps plans to buy F-35 fighter jets (Politico)

      • Talks between Putin and US envoy Steve Witkoff 'useful and constructive', Kremlin says (Guardian)

      • From Novo to Renault, Insiders Take Charge of Corporate Europe (BBG)

      • Thousands of company directors leave UK after Labour's tax changes (FT)

      • UK's Reeves heading for 'impossible' choices in this year's budget (Reuters)

      • Deadly wildfires sweep across France and Spain (Telegraph)

      • Messina Strait bridge gets definitive green light (Ansa)

      • Greece's Mitsotakis blocks probe into ministers over massive EU farm funds fraud (Politico)

    • Company news:

      • Notable Gainers

        • +15.4% FARN.LN (Faron Pharmaceuticals £2.25, +0.30) -- updated Bexmab data in frontline HR-MDS

        • +9.4% HSX.LN (Hiscox £13.77, +1.18) -- H1 earnings

        • +7.9% MZX.GR (Masterflex €12.90, +0.95) -- H1 earnings

        • +7.3% VOE.AV (Voestalpine €24.98, +1.70) -- Q1 earnings

        • +6.4% ASCN.SW (Ascom Holding CHF4.07, +0.25) -- H1 earnings

        • +5.5% TLT1V.FH (Teleste €3.25, +0.17) -- strategic partnership with Hitachi Rail

        • +4.9% BMPS.IM (Banca Monte dei Paschi di Siena €7.86, +0.37) -- Q2 earnings

        • +4.6% BELA.GA (Jumbo €32.44, +1.44) -- July group sales

        • +4.4% BFF.IM (BFF Bank SpA €10.98, +0.46) -- H1 earnings

        • +3.4% VNA.GR (Vonovia €28.36, +0.94) -- H1 earnings

        • +3.2% IP.IM (Interpump Group €37.14, +1.14) -- Q2 earnings

        • +3.2% SAMPO.FH (Sampo €9.87, +0.31) -- Q2 earnings; laucnhes €200M share buyback program

        • +2.9% BPE.IM (BPER Banca €8.59, +0.24) -- Q2 earnings

        • +2.5% DWNI.GR (Deutsche Wohnen €22.90, +0.55)

        • +2.0% BAMI.IM (Banco BPM €11.25, +0.22) -- Q2 earnings

        • +1.9% RILBA.DC (Ringkjøbing Landbobank DKK1,479.00, +27.00) -- Q2 earnings; raises FY guidance

        • +1.6% PAY.LN (PayPoint £7.51, +0.12) -- Q1 trading update

        • +1.5% IBST.LN (Ibstock £1.50, +0.02) -- H1 earnings

        • +1.4% VSVS.LN (Vesuvius £3.59, +0.05) -- H1 earnings

        • +1.1% CGEO.LN (Georgia Capital £22.35, +0.25) -- Q2 earnings

        • +0.2% TIMA.GR (ZEAL Network €46.30, +0.10) -- Q2 earnings

      • Notable Decliners

        • -43.8% VID.LN (Videndum £0.60, -0.46) -- H1 earnings

        • -22.1% QTCOM.FH (Qt Group €44.46, -12.59) -- Q2 earnings

        • -21.6% IMM.LN (ImmuPharma £0.02, -0.00) -- H1 earnings

        • -17.9% TLW.LN (Tullow Oil £0.12, -0.03) -- H1 earnings

        • -10.1% BAYN.GR (Bayer AG €24.89, -2.80) -- Q2 earnings

        • -9.8% CCEP.NA (Coca-Cola Europacific Partners €76.80, -8.30) -- H1 earnings

        • -9.3% BIOBV.FH (Biohit €2.83, -0.29) -- H1 earnings

        • -8.7% FOUR.LN (4imprint Group £33.00, -3.15) -- H1 earnings

        • -8.5% BEI.GR (Beiersdorf €97.50, -9.08) -- H1 earnings

        • -8.5% TCAP.LN (TP ICAP Group £2.81, -0.26) -- H1 earnings

        • -8.5% ZAL.GR (Zalando €23.19, -2.16) -- Q2 earnings

        • -7.6% KTN.GR (Kontron €25.26, -2.10) -- Q2 earnings

        • -7.1% SHA0.GR (Schaeffler €4.56, -0.35) -- Q2 revenue

        • -7.0% DORO.SS (Doro SEK39.85, -3.00)

        • -6.9% ALBPS.FP (Biophytis €0.18, -0.01)

        • -6.9% CCH.LN (Coca-Cola HBC £36.54, -2.72) -- H1 earnings

        • -6.9% ORRON.SS (Orrön Energy SEK4.58, -0.34) -- Q2 earnings

        • -6.7% JLP.LN (Jubilee Metals Group £0.03, -0.00) -- H1 production and guidance update; SA business sale update

        • -5.2% ABN.NA (ABN AMRO Bank €23.58, -1.30) -- Q2 earnings

        • -4.9% GLEN.LN (Glencore £2.87, -0.15) -- H1 earnings

        • -3.4% PNDORA.DC (Pandora DKK1,036.50, -36.50) -- cyber attack via third-party platform; no sensitive customer data stolen - CityAM

        • -3.4% NOVN.SW (Novartis CHF92.22, -3.25) -- reportedly considering acquisition of Avidity Biosciences -- FT

        • -2.9% COPN.SW (Cosmo Pharmaceuticals CHF54.00, -1.60) -- confirms no exposure to proposed US tariffs; reaffirms growth momentum

        • -2.4% GLPG.NA (Galapagos €27.98, -0.68) -- GLPG5101 granted FDA Regenerative Medicine Advanced Therapy (RMAT) designation

        • -1.9% LGEN.LN (Legal & General Group £2.57, -0.05) -- H1 earnings

        • -1.7% GTT.FP (Gaztransport & Technigaz €166.80, -2.80) -- Berenberg downgrade

        • -1.1% MFEB.IM (MFE-MEDIAFOREUROPE €3.89, -0.04) -- PSM recommends accepting amended public takeover offer by MFE-MEDIAFOREUROPE

        • -0.9% LRE.LN (Lancashire Holdings £6.34, -0.06) -- H1 earnings

        • -0.6% HKFOODS.FH (HKFoods €1.55, -0.01) -- Q2 earnings

        • -0.6% PSM.GR (ProSiebenSat.1 Media €7.92, -0.04) -- recommends accepting amended public takeover offer by MFE-MEDIAFOREUROPE

        • -0.2% FXPO.LN (Ferrexpo £0.45, -0.00) -- H1 earnings

    • EU companies reporting tomorrow:

      • Austria: Lenzing (LNZ.AV)

      • Belgium: KBC Group (KBC.BB), Jensen-Group (JEN.BB)

      • Denmark: Genmab (GMAB.DC), Maersk (MAERSK.B.DC), Jeudan (JDAN.DC)

      • Finland: Harvia (HARVIA.FH), Revenio Group (REG1V.FH), Lassila & Tikanoja (LAT1V.FH), Capman (CAPMAN.FH), Digia (DIGIA.FH), Detection Technology (DETEC.FH), Suominen (SUY1V.FH), Fingerprint Cards (FING.B.SS)

      • Germany: Siemens (SIE.GR), Deutsche Telekom (DTE.GR), Allianz (ALV.GR), Rheinmetall (RHM.GR), Uniper (UN0.GR), Merck KGaA (MRK.GR), Henkel (HEN3.GR), GEA Group (G1A.GR), Scout24 (G24.GR), IONOS Group (IOS.GR), LEG Immobilien (LEG.GR), United Internet (UTDI.GR), Carl Zeiss Meditec (AFX.GR), 1&1 (1U1.GR), OHB SE (OHB.GR), Adtran Networks (ADV.GR), Deutz AG (DEZ.GR), Rhoen-Klinikum (RHK.GR), SAF-HOLLAND (SFQ.GR), SMA Solar Technology (S92.GR), SÜSS MicroTec (SMHN.GR), GFT Technologies (GFT.GR), Deutsche Beteiligungs (DBAN.GR), SGL Carbon (SGL.GR), Homag Group (HG1.GR), Basler (BSL.GR), BayWa (BYW6.GR), All for One Group (A1OS.GR), Hawesko Holding (HAW.GR), Westwing Group (WEW.GR), Leifheit (LEI.GR), R. Stahl (RSL2.GR), Dr. Hönle (HNL.GR)

      • Greece: HELLENiQ ENERGY Holdings (ELPE.GA)

      • Italy: Unipol Gruppo (UNI.IM), Technoprobe (TPRO.IM), GVS (GVS.IM), TXT e-Solutions (TXT.IM), Italian Exhibition Group (IEG.IM), Trevi-Finanziaria Industriale (TFIN.IM)

      • Netherlands: CTP NV (CTPNV.NA), SBM Offshore (SBMO.NA), ForFarmers (FFARM.NA)

      • Norway: SpareBank 1 SMN (MING.NO), SpareBank 1 Nord-Norge (NONG.NO), Selvaag Bolig (SBO.NO), Shelf Drilling (SHLF.NO), Shelf Drilling North Sea (SDNS.NO), S.D. Standard ETC (SDSD.NO), REC Silicon (RECSI.NO)

      • Sweden: Paradox Interactive (PDX.SS), Haypp Group (HAYPP.SS), G5 Entertainment (G5EN.SS)

      • Switzerland: Zurich Insurance Group (ZURN.SW), Swisscom (SCMN.SW), Sandoz Group (SDZ.SW), Galenica (GALE.SW), lastminute.com (LMN.SW), Gam Holding (GAM.SW)

      • UK: InterContinental Hotels Group (IHG.LN), WPP Group (WPP.LN), Hikma Pharmaceuticals (HIK.LN), Spectris (SXS.LN), Harbour Energy (HBR.LN), Deliveroo (ROO.LN), Burford Capital (BUR.LN), Serco Group (SRP.LN), Just Group (JUST.LN), Dowlais Group (DWL.LN), Morgan Advanced Materials (MGAM.LN), Mears Group (MER.LN), Vanquis Banking Group (VANQ.LN)

      • Trading Update: Cie Financiere Tradition (CFT.SW)

      • CMD/events: SSH Communications Security (SSH1V.FH) EGM vote on Leonardo (LDO.IM) taking stake in company

  • Data:

    • Economics:

      • Eurozone Jun Retail Sales +3.1% y/y vs consensus +2.6% and prior revised +1.9% from +1.8%

      • Germany

        • Jun Factory Orders (1.0%) m/m vs consensus +1.0% and prior revised (0.8%) from (1.4%)

        • Jul Construction PMI 46.3 vs consensus 45.9 and prior 44.8

      • Italy Jun Industrial Production (0.9%) y/y vs consensus (0.3%) and prior revised (1.0%) from (0.9%)

      • Portugal Q2 Unemployment Rate 5.9% vs prior 6.6%

      • UK Jul Construction PMI 44.3 vs consensus 49.2 and prior 48.8

    • Markets:

      • WTI Crude (Sep 25): +$0.60 or +0.92% to $65.76

      • €-$ +0.0061 or +0.53% to 1.1637

      • £-$ +0.0041 or +0.31% to 1.3341

      • €-£ +0.0019 to 0.8722

      • S&P 500 +0.59%

      • Performance year-to-date

        • FTSE 100: +12.13%

        • DAX: +20.17%

        • CAC: +3.45%

        • MIB: +19.96%

        • Stoxx 600: +6.59%

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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