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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.06%) to 9095.73, DAX (0.12%) to 24162.86, CAC40 +0.44% to 7743.00, STOXX 600 +0.19% to 547.08

Aug 08 ,2025

  • Synopsis:

    • European equity markets ended mixed to mostly higher. Stoxx 600 closed up +0.2% on Friday and was up +2.11% for the week as a whole (largest weekly gain in 12 weeks).

    • Attention still on latest trade developments. Gold responding to a FT report that US has imposed tariffs on certain gold bars that are most traded on Comex, also impacting Swiss refiners. Press discusses major trading partners still lobbying White House for exemptions after global trade tariffs came into effect. Japan's Akazawa said US to correct presidential order clarifying 15% tariff will not stack on top of existing levies. Commerce Secretary Lutnick the latest to signal likely 90-day extension of China tariff deadline. India continuing to strike defiant stance on tariff, though press sources noted officials weighing trade concessions to US. Switzerland continue to push for concessions after failing to reach a deal.

    • Focus on report late in the session that US and Russia are planning a truce deal to cement Putin's gains in Ukraine. European defense stocks such as Leonardo (LDO.IM) (2.6%), Rheinmetall (RHM.GR) (1.3%), Saab (SAAB.B.SS) (3.7%) and Hensoldt (HAG.GR) (5.9%) closed lower. Bloomberg reported, citing sources, that Washington and Moscow are aiming to reach a deal to halt the war in Ukraine that would lock in Russia's occupation of territory seized during its military invasion. Added US and Russian officials are working toward an agreement on territories for a planned summit meeting between Presidents Donald Trump and Vladimir Putin as early as next week. The US is working to get buy-in from Ukraine and its European allies on the deal, which is far from certain, according to the report.

    • In Europe, market participants also digested yesterday's hawkish BoE rate cut. MPC also tipped to slow pace of QT in September amid steepening in long-end of the Gilt curve this year. Attention also on recent dovish shift in Fedspeak. Waller now the leading candidate to replace Powell. Trump announced CEA Chair Miren to be nominated to Fed Board. Quiet macro calendar. UK retail update showed weak footfall data for July, fitting in other updates pointing to subdued trade volumes.

    • In sector performance today, Insurance the main laggard. Reinsurers weighed with Munich Re (MUV2.GR) sliding (7%) on back of its full Q2 earnings report; the group has lowered FY25 reinsurance revenue guidance by €2B to €40B. Group net income for Q2 was in line with pre release but Citi notes the detailed results today are perhaps less favourable than the pre-release suggested, with negative large loss experience being unusual and explaining most of the 28% beat on the day. Hannover Re (HNR1.GR) (4%) and Swiss Re (SREN.SW) (3.2%) were down in sympathy. Elsewhere in the insurance space, NN (NN.NA) was up 2.7% on earnings (beats on Operating Capital Generation (OCG) and Solvency) while Unipol Gruppo (UNI.IM) (3.3%) reported mostly in-line H1 results with no change to guidance. Vienna Insurance Group (VIG.AV) (1.6%) considers the acquisition of a majority stake in NÜRNBERGER Beteiligungs (NBG6.GR) +11.2%. On the upside, Basic Resources, Banks, Autos & Parts outperformed.

    • The week ahead sees Norges Bank interest rate decision, OPEC and IEA monthly oil market reports, Germany Aug ZEW survey, UK Q2 preliminary GDP and Jul final CPIs from across the region as well as earnings/updates from Adyen (ADYEN.NA), Antofagasta (ANTO.LN), Aviva (AV.LN), Carlsberg (CARL.B.DC), E.ON (EOAN.GR), Fortum (FORTUM.FH), Swiss Re (SREN.SW) and Vestas Wind Systems (VWS.DC).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +1.84%, Banks +1.43%, Autos & Parts +1.27%, Construct & Mtls +0.78%, Retail +0.76%, Financial Svcs +0.52%, Chemicals +0.39%, Food, Beverage and Tobacco +0.33%

      • Underperformers:

        • Insurance (1.46%), Media (0.85%), Travel & Leisure (0.74%), Utilities (0.54%), Personal Care Drug and Grocery Stores (0.50%), Technology (0.40%), Real Estate (0.01%), Ind Goods & Svcs +0.07%, Consumer Products and Services +0.08%, Telecom +0.10%, Energy+0.16%

    • Macro:

      • US and Russia Plan Truce Deal to Cement Putin's Gains in Ukraine -- Bloomberg

      • Donald Tusk says 'freeze' in Ukraine war may be close as US and Russia plan talks -- Guardian

      • Pace of UK interest rate cuts more uncertain, says BoE chief economist -- FT

      • More than a Third of Companies in Germany Are Short on Orders -- ifo

      • Finland Ministry of Finance has published the proposal for the 2026 budget - release

      • Ukraine Facility: Kyiv to receive over €3.2 billion in EU support following Council decision approving fourth payment -- link

      • Norway: Finance minister Stoltenberg requests update from Norges Bank on work to review the country's wealth fund's investments in Israeli companies - release

      • Maersk provides market updates for North America , Latin America , Europe , IMEA and Asia Pacific

    • Company news:

      • Notable Gainers

        • +69.6% WITH.FH (WithSecure €1.68, +0.69) -- Consortium formed by CVC and Risto Siilasmaa announces recommended cash tender offer of €1.70 per share for WithSecure Corporation

        • +46.5% PDL.LN (Petra Diamonds £0.18, +0.06) -- Q4 earnings; proposed refinancing with key financial stakeholders; includes underwritten $25M rights issue

        • +15.8% BITTI.FH (Bittium €11.52, +1.57) -- Q2 earnings

        • +11.2% LOTB.BB (Lotus Bakeries €8,460.00, +850.00) -- H1 earnings

        • +10.0% BPOST.BB (bpost €2.43, +0.22) -- Q2 earnings

        • +9.9% BC8.GR (Bechtle €40.54, +3.66) -- Q2 earnings

        • +7.3% ATS.AV (AT & S Austria Technologie & Systemtechnik €20.85, +1.41) -- CFO to step down

        • +7.1% DIGIA.FH (Digia €7.20, +0.48) -- Q2 earnings

        • +6.4% LAT1V.FH (Lassila & Tikanoja €10.16, +0.61) -- SEB upgrade

        • +4.6% NOVO.B.DC (Novo Nordisk DKK323.05, +14.20) -- Intron Health upgrade

        • +4.2% MSAB.B.SS (Micro Systemation SEK59.60, +2.40) -- contract

        • +3.8% CPI.LN (Capita £2.57, +0.09) -- three-year contract extension with ScottishPower

        • +3.3% MYTIL.GA (Metlen Energy & Metals €51.50, +1.64) -- approval to compulsorily acquire the remaining shares of Metlen Energy & Metals S.A.

        • +3.0% GLEN.LN (Glencore £2.89, +0.08) -- completes acquisition of select Li-Cycle Holdings assets

        • +2.5% TKA.GR (ThyssenKrupp €9.86, +0.24) -- EGM approves spin-off of TKMS

        • +2.4% HAUTO.NO (Höegh Autoliners NOK113.10, +2.70) -- trading update

        • +1.4% NXT.IM (Next Geosolutions Europe €10.75, +0.15) -- golden power authorisation in connection with the acquisition of Rana Subsea

        • +1.3% PDX.SS (Paradox Interactive SEK163.60, +2.10) -- Pareto and SEB upgrades

        • +0.5% COPN.SW (Cosmo Pharmaceuticals CHF56.00, +0.30) -- renewal of strategic manufacturing agreement with Takeda for global supply of oral treatment for ulcerative colitisx

      • Notable Decliners

        • -18.4% FUM.LN (Futura Medical £0.09, -0.02) -- momentum of sales of Eroxon continues to be slower than originally anticipated; board conducting thorough review of the current business; interim CEO; Finance Director and COO steps down

        • -17.9% SOLAR.B.DC (Solar DKK227.50, -49.50) -- Q2 earnings

        • -14.9% ALCOX.FP (Nicox €0.53, -0.09) -- financing estimate

        • -9.7% EUZ.GR (Eckert & Ziegler Strahlen- und Medizintechnik €58.70, -6.30) -- Q2 earnings

        • -7.0% MUV2.GR (Munich Re €565.40, -42.40) -- Q2 earnings

        • -6.4% SDZ.SW (Sandoz Group CHF47.29, -3.23) -- Jefferies and BofA downgrades

        • -5.9% SRAD.LN (Stelrad Group £1.60, -0.10) -- H1 earnings

        • -5.8% FAA.GR (Fabasoft €15.45, -0.95) -- Q1 earnings

        • -5.5% VSCA.GR (4SC €0.52, -0.03) -- H1 earnings

        • -5.2% TBCG.LN (TBC Bank Group £48.05, -2.65) -- Q2 earnings; transferred buy at Peel Hunt

        • -4.5% GMAB.DC (Genmab DKK1,382.00, -64.50) -- Q2 earnings; trial result

        • -4.4% SRV1V.FH (SRV Group €5.20, -0.24) -- Q2 earnings

        • -4.2% POST.AV (Oesterreichische Post €29.45, -1.30) -- Q2 earnings

        • -4.1% GLA1V.FH (Glaston €1.20, -0.05) -- Q2 earnings; initiates actions to increase efficiency and align costs

        • -4.1% ALCA.SS (Alcadon Group SEK19.75, -0.85) -- Q2 earnings

        • -3.4% PEBB.LN (The Pebble Group £0.57, -0.02) -- result of tender offer; to acquire the maximum of 10.7M shares at 61p/share

        • -3.3% UNI.IM (Unipol Gruppo €17.42, -0.60) -- H1 earnings

        • -1.9% VIG.AV (Vienna Insurance Group €46.95, -0.90) -- considers the acquisition of a majority stake in NÜRNBERGER Beteiligungs

        • -1.6% JUN3.GR (Jungheinrich €33.24, -0.54) -- Q2 earnings

        • -1.3% RAY.B.SS (RaySearch Laboratories SEK300.50, -4.00) -- Q2 earnings

        • -0.9% DETEC.FH (Detection Technology €10.50, -0.10) -- Danske Bank and Nordea downgrades

        • -0.8% ROS.AV (Rosenbauer International €48.10, -0.40) -- H1 earnings

        • -0.7% KTA.GR (Knaus Tabbert €13.48, -0.10) -- H1 earnings

        • -0.4% MOL.HB (MOL Hungarian Oil & Gas Ft2,998.00, -12.00) -- Q2 earnings

        • -0.3% KRX.ID (Kingspan Group €71.40, -0.20) -- H1 earnings

    • EU companies reporting Monday:

      • Earnings:

        • DACHs: Aryzta (ARYN.SW), Salzgitter (SZG.GR), Hypoport (HYQ.GR), Ategrity Specialty Holdings (A1Q.GR), BioHarvest Sciences (8MV0.GR), q.beyond (QBY.GR)

        • Nordics: NTG Nordic Transport Group (NTG.DC), Ilkka Oyj (ILKKA2.FH)

        • UK: Plus500 (PLUS.LN), Diversified Energy Co. (DEC.LN), Marshalls (MSLH.LN)

        • Other: Enerjisa Enerji (ENJSA.E.TI)

      • Trading Update:

        • France: Hexaom (ALHEX.FP)

      • Traffic: Heathrow Airport (+HTR.LN)

  • Data:

    • Economics:

      • Netherlands Jun Manufacturing Production (0.1%) m/m vs consensus +0.2% and revised +0.4% from +0.5%

      • France Q2 Unemployment Rate 7.5% vs consensus 7.5% and prior revised 7.5% from 7.4%

      • Sweden Jun Industrial Production +12.8% y/y vs consensus +3.0% and prior revised +3.0% from +5.0%

      • Switzerland Jul SECO Consumer Sentiment (32.8) vs consensus (30.0) and prior (32.2)

      • Finland Jun Industrial Production +0.4% y/y vs consensus +4.1% and prior +5.8%

      • Greece

        • Jul CPI +3.1% y/y vs consensus +3.1% and prior +2.8%

        • Jun Industrial Production +0.5% y/y vs consensus (1.4%) and prior (2.0%)x

    • Markets:

      • WTI Crude (Sep 25): +$0.18 or +0.28% to $64.06

      • €-$ (0.0004) or (0.03%) to 1.1663

      • £-$ +0.0004 or +0.03% to 1.3449

      • €-£ (0.0004) to 0.8673

      • S&P 500 +0.53%

      • Performance year-to-date

        • FTSE 100: +11.29%

        • DAX: +21.37%

        • CAC: +4.91%

        • MIB: +21.96%

        • Stoxx 600: +7.77%

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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