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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE +0.1%, DAX +0.2%, CAC +0.1%, IBEX +0.1%, MIB +0.1%

Aug 11 ,2025

  • Synopsis

    • European equity markets set to open broadly higher, extending last week's gains when the Stoxx Europe 600 closed up 2.1% for the week (best performance in 12 weeks). Banks +6.3%, Insurance +4.1% were overall the best sector performers last week on a mix of robust Q2 earnings and favorable regulatory developments.

    • This week 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).

    • Also of note, the US and Russia have agreed to hold a meeting between Donald Trump and Vladimir Putin on Friday, to discuss ways forward to end the war in Ukraine. They are set to meet in Alaska. According to reports, Europe has rejected Putin's ceasefire plan, proposes Ukraine-centric framework. NBC reports the White House is considering inviting Ukrainian President Zelenskyy to Alaska. (BBC).

    • European macro data releases out today include Italy Jul final CPI, Jun trade balance, Norway Jul CPI/PPI, Denmark Jul CPI, Jun trade balance.

    • Also kicking off today is Arendal Week, the largest political gathering in Norway (through Fri). Nordic co-operation hosting several events. Norway's PM participates in the party leaders' debate on NRK at 21:15CET

    • Among stocks in focus this morning, Ørsted (ORSTED.DC) confirms DKK 60B rights issue with support from Danish State as majority shareholder; calls EGM on 5-Sep. Also updates medium-term targets and financial policies. Aryzta (ARYN.SW) reports H1 revenue €1.09B vs consensus €1.08B, Adjusted EBITDA €150.5M vs consensus €149.8M. In the US semiconductor space, focus on report in the FT that NVIDIA and AMD are to pay 15% of China chip revenue to US government; FT adds this is part of an unusual arrangement with the Trump administration to obtain export licences for the semiconductors.

  • Politics/Macro/World News

    • UK employers cut back hiring over labour and tax cost fears -- FT

    • European leaders urge pressure on Russia ahead of Trump-Putin talks -- Guardian

    • ECB Is Seen Delaying Final Rate Cut of the Cycle Until December -- Bloomberg

    • Bank of Spain's Political Storm Rages On With Officials Exiting -- Bloomberg

    • Swiss Leaders Seek Roche, Novartis Talks Amid US Tariffs -- Bloomberg

  • Top company news

    • Earnings/updates

      • ORSTED.DC (Ørsted) --

        • reports Q2 net income DKK3.35B vs FactSet (DKK1.51B) [7 est, (DKK2.57)-760M]; reaffirms FY guidance updates medium-term targets and financial policies

        • confirms DKK 60B rights issue with support from Danish State as majority shareholder; calls EGM on 5-Sep

      • NYXH.BB (Nyxoah) -- reports prelim Q2 revenue €1.3M vs FactSet €1.3M [6 est, €0.8-1.8M]

      • ARYN.SW (Aryzta) -- reports H1 net income €49.1M vs FactSet €49.1M [3 est, €46-52.6M]

      • ICAD.FP (Icade) -- signs agreement with BNPP REIM to sell stake in a portfolio of 23 assets in Italy for €173M

      • RLF.SW (RELIEF THERAPEUTICS Holding) -- to anticipate publication date of its 2025 half-year report to 14-Aug-25

      • Also reporting today

        • Earnings:

          • DACHs: 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)

    • M&A

      • DG.FP (VINCI SA) -- VINCI and ACS sign final agreement to definitively settle certain provisions related to the acquisition of Cobra IS

      • NB2.GR (Northern Data) -- Rumble proposes potential offer to acquire Northern Data for 2.319 Rumble shares per Northern Data share

      • SXS.LN (Spectris) -- announces termination of final Advent offer

      • EQT.SS (EQT AB) -- EQT to acquire Remember at valuation of KRW500B ($400M/€309.0M)

      • SFOR.LN (S4 Capital) -- Suitors approaching S4 Capital - Sky News

      • ICAD.FP (Icade) -- signs agreement with BNPP REIM to sell stake in a portfolio of 23 assets in Italy for €173M

      • Bain exploring options for Ahlstrom - Bloomberg

    • Healthcare

      • NYXH.BB (Nyxoah) -- receives approval from FDA for genio system for the treatment of obstructive sleep apnea

      • NWRN.SW (Newron Pharmaceuticals) -- notes the publication of new preclinical research suggesting evenamide ameliorates schizophrenia-related dysfunction

      • POXEL.FP (Poxel) -- announces opening of reorganization proceedings

    • Other

      • STJ.LN (St. James's Place) -- facing renewed criticism for selling new customers products with high exit frees just days before new fee structure takes effect - FT

      • SBMO.NA (SBM Offshore) -- announces that FPSO ONE GUYANA produced first oil on 8-Aug-25 and is formally on hire

      • BHP to lead consortium in investigating opportunities for CCUS across Asia - Bloomberg

      • Estimated weekend box office revenues in US, Canada $131.2M, (16.8%) y/y - Box Office Mojo

  • Key rating changes

    • Upgrades

      • ADM.LN (Admiral Group) -- to equal-weight from underweight at Morgan Stanley

      • REC.IM (Recordati) -- to buy from hold at Jefferies

      • CSN.LN (Chesnara) -- to buy from add at Peel Hunt

      • DEMANT.DC (Demant) -- upgraded to buy from hold at ABG Sundal Collier

      • NN.NA (NN Group) -- to hold from reduce at Kepler Cheuvreux

    • Downgrades

      • ELM.LN (Elementis) -- to neutral from overweight at JPMorgan

      • JUST.LN (Just Group) -- to hold from buy at Jefferies

  • Data

    • Nikkei +0.00% to 41820.48

    • Hang Seng +0.17% to 24901.45

    • Shanghai Composite +0.46% to 3651.67

    • S&P futures +7.5 vs prior close of 6413.5

    • €-$ +0.0021 or +0.18% to 1.1671

    • $-¥ (0.10) or (0.07%) to 147.52

    • €-¥ +0.21 or +0.12% to 172.16

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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