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StreetAccount Summary - EU Market Recap: FTSE 100 +0.19% to 9165.23, DAX +0.67% to 24185.59, CAC40 +0.66% to 7804.97, STOXX 600 +0.54% to 550.85

Aug 13 ,2025

  • Synopsis:

    • European equity markets closed higher. Health Care, Technology and Personal Goods were the best performing sectors, while Oil/Gas, Travel/Leisure and Industrials lagged. Limited movement elsewhere. Follows narrowly mixed performance on Tuesday.

    • With limited macro developments in Europe, markets likely to taking cue from record-breaking close on US markets following CPI data that reinforced expectations of a September rate cut. Takeaways mixed with tariff impacts evident in some categories but not others, informing view data benign enough for Fed to ease against backdrop of labor market weakness. After extending tariff deadline by 90 days, Treasury Secretary Bessent said expect to meet Chinese counterparts again within 2-3 months for next round of talks. Downplayed immediate prospect of lifting fentanyl tariffs and doubtful about US accepting Chinese investment.

    • More conjecture over UK fiscal policy ahead of autumn budget. Treasury reportedly looking at options to raise more money from inheritance tax, as Chancellor Reeves looks to plug fiscal gap of potentially up to £50B. In Germany, analysis suggests military expansion won't strengthen broader economy. Eurointelligence noted real challenge lies in Germany's industrial decline-a steady 20% drop since 2018 that military spending cannot reverse. Defense expansion represents debt-funded military growth, unlikely to generate productivity improvements.

    • Macro calendar is light with final German and Spanish CPI unchanged from flash.

    • On the earnings front, a busy DACH calendar, with E.ON (EOAN.GR), Sixt (SIX2.GR), Renk Group (R3NK.GR), Wienerberger (WIE.AV), Brenntag (BNR.GR), Straumann Holding (STMN.SW), Evotec (EVT.GR), Stroeer (SAX.GR), Semperit Holding (SEM.AV) and TUI Group (TUI1.GR) among few names from the region to update investors. In the Nordics, Demant (DEMANT.DC), Vestas Wind Systems (VWS.DC), Matas (MATAS.DC) and Nordic Semiconductor (NOD.NO) also issued Q2/H1. In the UK, Balfour Beatty (BBY.LN), Beazley (BEZ.LN) and Persimmon (PSN.LN) reported before the open.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Health Care +1.63%, Technology +1.31%, Persnl & HHold Goods +1.17%, Retail +1.00%, Media +0.93%, Insurance +0.86%, Autos & Parts +0.74%, Utilities +0.70%, Chemicals +0.67%, Banks +0.65%

      • Underperformers:

        • Oil & Gas (1.36%), Travel & Leisure (0.61%), Ind Goods & Svcs (0.27%), Financial Svcs (0.14%), Real Estate +0.08%, Basic Resources +0.19%, Food & Beverage +0.30%, Construct & Mtls +0.45%, Telecom +0.53%

    • Macro:

      • IEA cuts oil demand forecast for 2025 and 2026; raises forecast for oil supply

      • Germany:

        • German inflation confirmed at 2.0% in July (DeStatis)

        • Far-right AfD surges to Germany's most popular party (Politico)

        • Defense spending unlikely to revive economy (Bloomberg )

      • UK:

        • UK Treasury eyes inheritance tax grab to raise funds (London Times , Telegraph)

        • Productivity gap costs economy £80B a year ( EY report)

        • UK firms call on government to promote higher wages and lower costs (CityAM)

      • Switzerland:

        • Switzerland eyes tax reform, second home levy to address budget (Bloomberg)

      • Geopolitics:

        • Trump engages Europe before Putin summit, raising Ukraine concerns (Politico)

        • Russian advances in Ukraine heighten fears before Trump-Putin summit (Reuters)

        • Europe, Ukraine urge Trump to protect Kyiv's interests before Putin talks (Reuters)

        • France, Germany and UK threaten Iran with UN sanctions over nuclear talks stalemate (FT)

    • Company news:

      • Notable Gainers

        • +15.8% GL9.ID (Glanbia €14.12, +1.93) -- H1 earnings

        • +14.1% NOD.NO (Nordic Semiconductor NOK159.10, +19.70) -- Q2 earnings

        • +13.6% OBD.LN (Oxford BioDynamics £0.00, -0.00) -- Oxford BioDynamics and Google Cloud agree to collaborate and help accelerate cloud-based analytical frameworks for precision medicine

        • +13.5% C3RY.GR (Cherry €0.84, +0.10) -- reschedules the publication of its H1 report; cites clarification regarding the down payments from the divestment of its hygiene business

        • +10.3% HILS.LN (Hill & Smith £21.70, +2.02) -- H1 earnings

        • +8.4% TUI1.GR (TUI Group €8.56, +0.66) -- earnings

        • +7.4% OBI.LN (Ondine Biomedical £0.15, +0.01) -- first Mexican Hospital Steriwave deployment

        • +7.1% ILM1.GR (Medios €13.58, +0.90) -- earnings

        • +6.9% MATAS.DC (Matas DKK140.00, +9.00) -- earnings

        • +6.8% NRR.LN (NewRiver REIT £0.75, +0.05) -- buyback

        • +6.8% SPG.GR (Springer Nature €21.00, +1.34) -- expects FY revenue €1.93-1.96B vs prior guidance in the upper half of the range of €1.885-1.935B and FactSet €1.91B

        • +6.8% SPG.GR (Springer Nature €21.00, +1.34) -- H1 earnings

        • +6.2% HEX.NO (Hexagon Composites NOK19.50, +1.14) -- order

        • +6.2% BIKE.GR (Bike24 Holding €3.10, +0.18) -- earnings

        • +6.1% TPE.GR (PVA TePla €22.18, +1.28) -- reports Q2 EPS €0.13 vs FactSet €0.20 [1 est]; guides FY to lower end of forecast ranges citing order postponements

        • +5.9% EUZ.GR (Eckert & Ziegler Strahlen- und Medizintechnik €19.53, +1.08) -- share split

        • +5.7% SANN1.SW (Santhera Pharmaceuticals Holding CHF13.68, +0.74) -- secures agreement with GEN for the distribution of AGAMREE (Vamorolone) in Türkiye

        • +5.6% ITM.LN (ITM Power £0.68, +0.04) -- supply agreement

        • +4.1% IDIA.SW (Idorsia CHF2.67, +0.11) -- Santhera Pharmaceuticals Holding secures agreement with GEN for the distribution of AGAMREE (Vamorolone) in Türkiye

        • +3.9% RAIVV.FH (Raisio €2.55, +0.09) -- Inderes upgrade

        • +3.6% IMP.A.SS (Implantica SEK72.60, +2.50) -- "announces completion and initial validation of a new

      • Notable Decliners

        • -18.8% EMGS.NO (Electromagnetic Geoservices NOK1.60, -0.37) -- reports Q2 EPS $0.00 vs year-ago $0.03

        • -12.3% BEZ.LN (Beazley £8.00, -1.12) -- reports H1 EPS $0.65 vs FactSet $0.60 [3 est, $0.49-0.69]

        • -8.5% EVO.SS (Evolution SEK810.00, -75.40) -- execs reportedly secretly filmed describing how Evolution's casino games made their way to banned markets

        • -5.0% DECB.BB (Deceuninck €2.10, -0.11) -- terminates collaboration with CEO effective immediately

        • -5.0% GSC1.GR (GESCO SE €17.20, -0.90) -- earnings

        • -4.3% FTON.SW (Feintool International Holding CHF11.10, -0.50) -- earnings

        • -4.1% DEMANT.DC (Demant DKK243.00, -10.40) -- reports H1 EBIT before special items DKK1.85B vs consensus DKK1.98B; Outlook for 2025 revised for organic growth and EBIT

        • -2.7% BBY.LN (Balfour Beatty £5.53, -0.15) -- reports H1 underlying EPS 14.4p vs FactSet 15.3p [1 est]; on track to achieve full year expectations with further growth in 2026

        • -2.7% CLI.LN (CLS Holdings £0.62, -0.02) -- reports H1 EPRA NTA 209.5p, (3%) vs quarter-ago 215.0p

        • -2.3% EVT.GR (Evotec €6.43, -0.15) -- reports H1 EPS (€0.42) vs year-ago (€0.65); confirms FY25 guidance as per 21-Jul update

        • -1.4% FYB.GR (Formycon €25.00, -0.35) -- reports H1 adjusted EBITDA (€19.2M) vs year-ago (€2.1M)

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: DO & CO (DOC.AV), Polytec Holding (PYT.AV)

        • Benelux: Adyen (ADYEN.NA), Shurgard Self Storage (SHUR.BB), Sipef (SIP.BB)

        • Denmark: Carlsberg (CARL.B.DC), Zealand Pharma (ZEAL.DC), TORM (TRMD.A.DC), D/S Norden (DNORD.DC), Netcompany Group (NETC.DC), Nilfisk Holding (NLFSK.DC), Brødrene A & O Johansen (AOJ.B.DC), Solar (SOLAR.B.DC)

        • Finland: Mandatum (MANTA.FH), Marimekko (MEKKO.FH), Relais Group (RELAIS.FH), Gofore (GOFORE.FH), Lemonsoft (LEMON.FH), Teleste (TLT1V.FH)

        • Germany: RWE (RWE.GR), Hapag-Lloyd (HLAG.GR), ThyssenKrupp (TKA.GR), Bilfinger (GBF.GR), Lanxess (LXS.GR), MVV Energie (MVV1.GR), Wacker Neuson (WAC.GR), HelloFresh (HFG.GR), Talanx (TLX.GR), Hamburger Hafen und Logistik (HHFA.GR), Deutsche EuroShop (DEQ.GR), Wüstenrot & Württembergische (WUW.GR), thyssenkrupp nucera (NCH2.GR), PNE (PNE3.GR), Douglas (DOU.GR), Yubico (0FE.GR), MBB (MBB.GR), GRENKE (GLJ.GR), Nagarro (NA9.GR), JOST Werke (JST.GR), CEWE Stiftung & Co (CWC.GR), EnergieKontor (EKT.GR), ProCredit Holding (PCZ.GR), adesso (ADN1.GR), init innovation in traffic systems (IXX.GR), JDC Group (JDC.GR), HomeToGo (HTG.GR), Aumann (AAG.GR), Branicks Group (BRNK.GR), Grammer (GMM.GR), Voltabox (VBX.GR), Global Fashion Group (GFG.GR), DEMIRE Deutsche Mittelstand Real Estate (DMRE.GR), Delticom (DEX.GR), Cherry (C3RY.GR)

        • Norway: AutoStore Holdings (AUTO.NO), Veidekke (VEI.NO), Elopak (ELO.NO), Pexip Holding (PEXIP.NO), Sparebanken Møre (MORG.NO), Hexagon Composites (HEX.NO), Morrow Bank (MOBA.NO), Axactor (ACR.NO), Archer (ARCH.NO), NRC Group (NRC.NO), Lumi Gruppen (LUMI.NO), ArcticZymes Technologies (AZT.NO), Webstep (WSTEP.NO), Tekna Holding (TEKNA.NO), Western Bulk Chartering (WEST.NO)

        • Sweden: Holmen (HOLM.B.SS), Embracer Group (EMBRAC.B.SS), New Wave Group (NEWA.B.SS), Fingerprint Cards (FING.B.SS), Bambuser (BUSER.SS), Implantica (IMP.A.SS), Bredband2 i Skandinavien (BRE2.SS), IAR (IAR.B.SS), Fasadgruppen Group (FG.SS), Rugvista Group (RUG.SS), Qualisys Holding (QSYS.SS), Ferronordic (FNM.SS)

        • Switzerland: Swiss Re (SREN.SW), Swissquote Group Holding (SQN.SW), Montana Aerospace (AERO.SW), Kuros Biosciences (KURN.SW), Thurgauer Kantonalbank (TKBP.SW)

        • UK: Aviva (AV.LN), Antofagasta (ANTO.LN), Admiral Group (ADM.LN), Savills (SVS.LN), Rank Group (RNK.LN), ITM Power (ITM.LN), Capital (CAPD.LN), CAB Payments Holdings (CABP.LN)

        • Other: Societatea Nationala de Gaze Naturale ROMGAZ (SNG.RO)

      • Trading Update:

        • Benelux: CVC Capital Partners (CVC.NA), Fastned (FAST.NA)

  • Data:

    • Economics:

      • Germany Jul CPI +2.0% y/y vs preliminary +2.0%; +0.3% m/m vs preliminary +0.3%

        • EU Harmonised: +1.8% y/y vs preliminary +1.8%; +0.4% m/m vs preliminary +0.4%

      • Spain Jul CPI +2.7% y/y vs preliminary +2.7%; (0.1%) m/m vs preliminary (0.1%)

        • EU Harmonised: +2.7% y/y vs preliminary +2.7%; (0.3%) m/m vs preliminary (0.4%)

    • Markets:

      • WTI Crude (Sep 25): ($0.80) or (1.27%) to $62.37

      • €-$ +0.0045 or +0.38% to 1.1722

      • £-$ +0.0074 or +0.55% to 1.3573

      • €-£ (0.0013) to 0.8638

      • S&P 500 +0.19%

      • Performance year-to-date

        • FTSE 100: +12.14%

        • DAX: +21.48%

        • CAC: +5.75%

        • MIB: +23.40%

        • Stoxx 600: +8.52%

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