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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.32%) to 9187.34, DAX (0.57%) to 23902.21, CAC40 (0.76%) to 7703.90, STOXX 600 (0.64%) to 550.14

Aug 29 ,2025

  • Synopsis:

    • European equity markets closed lower. Technology and Retail leading weakness. Banks also underperforming with UK names under pressure on tax speculation. Follows mostly softer performance on Thursday. US equity markets lower. Comes after US equities finished higher on Thursday with the S&P up for a third straight session, closing above the 6,500 level for first time.

    • o change in market narrative. European equity markets have turned a bit more defensive this week following three consecutive weeks of higher levels. Somewhat better headlines on the trade front as EU offered to scrap tariffs on US industrial goods and give preferential access to a range of US seafood and ag good. USTR announced extension of certain China Section 301 tariff exclusions through end of November. Political risk in the headlines in Europe amid French PM Bayrou's unexpected decision to call a confidence vote on 2026 budget proposals.

    • Busy macro calendar to close off the month. German retail sales missed expectations, imports prices softer than forecast and employment rate steady. There are also several countries published latest inflation updates ahead of Eurozone reading next week. French and Spanish CPI softer than forecast, but German reading firmer than expected. Eurozone consumer inflation expectations steady at 2.6%. Final French and Italian Q2 GDP reading unchanged from prior estimate. The Lloyds UK business confidence measure gains despite doubts over economy, though it has consistently been an outlier compared with other UK macro updates. Press reports UK banks worried Chancellor Reeves might target sector to help shore up public finances.

    • On a light reporting front, Ackermans & Van Haaren (ACKB.BB) reported H1 earnings this morning and now expects net income to increase by at least +15% y/y. In Nordics, AF Gruppen (AFG.NO) and AcadeMedia (ACAD.SS) reported Q2/Q4 earnings. In other corporate development, Remy Cointreau (RCO.FP) revised the estimated net overall impact of tariffs on current operating profit from €45M to €30M and reaffirmed the objective of mid-single-digit annual organic sales growth.

    • Looking ahead to Monday's calendar (see - Europe Week Ahead: 01-Sep to 05-Sep attached) Burkhalter Holding (BRKN.SW), Team Internet Group (TIG.LN), Kainos Group (KNOS.LN), Moscow Exchange MICEX-RTS (MOEX.RU) and PVA TePla (TPE.GR) will be amongst other names to update investors, whilst the macro-calendar releases will include Italy, Norway, Spain, Sweden, Switzerland Aug manufacturing PMI and final reads for Eurozone, France, Germany, UK, Italy Jul unemployment rate, Eurozone Jul unemployment rate, UK Jul mortgage approvals, M4 money supply, Aug house price index - Nationwide, Netherlands Jul retail sales, Austria Aug unemployment rate, Ireland Aug preliminary HICP. Holidays: USA, Canada, Slovenia

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Oil & Gas (0.04%), Insurance (0.10%), Telecom (0.11%), Food & Beverage (0.15%), Health Care (0.32%), Ind Goods & Svcs (0.41%), Basic Resources (0.42%),

      • Underperformers:

        • Technology (1.81%), Retail (1.74%), Travel & Leisure (1.23%), Media (1.14%), Banks (0.93%), Utilities (0.89%), Financial Svcs (0.85%), Construct & Mtls (0.71%), Persnl & HHold Goods (0.71%), Autos & Parts (0.70%), Chemicals (0.67%), Real Estate (0.65%),

    • Macro/Peripheral markets:

      • Geopolitics

        • Twenty-six EU states demand Russia 'stop the killing' in Ukraine as Zelenskyy urges Monday deadline for Putin meeting - The Guardian

        • Russia says Western proposals on Ukraine's security are 'one-sided' and dangerous - Reuters

        • Merz, Macron Push for Secondary Sanctions on Russian Backers - Bloomberg

      • EU

        • Stand up to Trump on Big Tech, says EU antitrust chief - FT

        • Washington must swiftly cut auto tariffs after EU paves way, German car lobby says - Reuters

      • UK

        • UK bank shares tumble on fears of tax raid on sector - FT

        • Pre-budget lift for Rachel Reeves as UK business confidence rises - The Guardian

        • Asylum seekers can stay at hotel in Epping after government wins appeal - BBC

      • France

        • Macron Backs Bayrou's Confidence Motion, Rules Out Resigning - Bloomberg

      • Germany

        • Number of unemployed rises to more than three million - Handelsblatt

        • Inflation in Germany rises more than expected in August - Handelsblatt

      • Italy

        • Italy's economy shrank in second quarter, stats agency confirms - Reuters

      • Norway

        • Norway's ex-NATO chief Stoltenberg campaigns for Labour Party's re-election - Reuters

      • Switzerland

        • Swiss Outlook for 2026 Is Cut by UBS Amid Concern on Tariff Hit - Bloomberg

    • Company news:

      • Trading Higher:

        • +11.3% TRMED.NO (Thor Medical NOK3.23, +0.33) -- Q2 earnings; entesr into strategic agreement for Thorium-228 radioisotopes to supply Phase 3 clinical program for Radspherin

        • +6.6% AVTX.NA (Avantium €14.02, +0.86) -- successful start-up of sugar dehydration (SDH) unit

        • +6.1% RET.BB (Retail Estates €69.50, +4.00) -- Sagax acquires a 10.8% stake in company

        • +5.5% YCA.LN (Yellow Cake £5.20, +0.27) -- Van Eck Associates Corporation raises stake in company

        • +5.3% GOMX.SS (GomSpace Group SEK15.90, +0.82) -- The Hargreaves Family No. 14 Settlement submits mandatory SEK6.86/share in cash offer for company; board recommends shareholders not to accept

        • +5.2% SHA0.GR (Schaeffler €5.97, +0.29) -- Citi upgrade

        • +4.3% CMBT.BB (CMB.TECH €7.44, +0.30) -- Kepler Cheuvreux upgrade

        • +3.4% RHM.GR (Rheinmetall €1,712.50, +56.00)

        • +3.3% AFG.NO (AF Gruppen NOK162.60, +5.20) -- Q2 earnings

        • +2.8% ADN1.GR (adesso €88.70, +2.40) -- Kepler Cheuvreux upgrade

        • +2.0% MFEB.IM (MFE-MEDIAFOREUROPE €4.58, +0.09)

        • +1.8% KLR.LN (Keller Group £13.34, +0.24) -- Deutsche Numis upgrade

      • Trading Lower:

        • -12.4% SIFG.NA (Sif Holding €7.84, -1.10) -- H1 earnings

        • -8.5% RECT.BB (Recticel €9.56, -0.88) -- H1 earnings

        • -4.3% SFOR.LN (S4 Capital £0.21, -0.01) -- S4 Capital has informed staff at its operational brand Monks about restructuring plans that involve layoffs -- Business Insider

        • -3.7% STORY.B.SS (Storytel SEK79.05, -3.05) -- CFO to step down

        • -3.5% RCO.FP (Remy Cointreau €53.50, -1.90) -- revises estimated net overall impact of tariffs on Current Operating Profit from €45M to €30M; reaffirms objective of mid-single-digit annual organic sales growth

        • -3.1% LLOY.LN (Lloyds Banking Group £0.79, -0.03) -- UK bank shares trading lower; FT notes City fears mounting that Budget will target banks to help fill £20B fiscal hole

        • -3.0% FIE.GR (Fielmann Group €52.40, -1.60)

        • -2.8% AFK.NO (Arendals Fossekompani NOK139.50, -4.00) -- Q2 earnings

        • -2.7% BIOA.B.SS (BioArctic SEK303.60, -8.40) -- FDA recommends additional MRI monitoring for patients taking Leqembi

        • -2.5% AYV.FP (Ayvens €9.44, -0.24) -- Citi downgrade

        • -2.4% KSL.FH (Keskisuomalainen €8.14, -0.20) -- H1 earnings

        • -2.2% BARC.LN (Barclays £3.57, -0.08) -- UK bank shares trading lower; FT notes City fears mounting that Budget will target banks to help fill £20B fiscal hole

    • EU companies reporting Monday:

      • Earnings:

        • DACHs: Burkhalter Holding (BRKN.SW)

        • UK: Team Internet Group (TIG.LN)

      • Trading Update:

        • UK: Kainos Group (KNOS.LN)

      • Sales: Moscow Exchange MICEX-RTS (MOEX.RU)

      • CMD/events: PVA TePla (TPE.GR)

  • Data:

    • Economics:

      • Denmark Jul Unemployment Rate 2.6% vs consensus 2.5% and prior revised 2.6% from 2.5%

      • Retail Sales

        • Norway Jul +0.6% m/m vs consensus +0.1% and prior 0.0%

        • Sweden Jul +2.9% y/y vs consensus +1.7% and prior revised +2.6% from +2.0%

        • Greece Jun +1.8% y/y vs consensus +1.5% and prior revised (5.8%) from (5.6%)

      • Q2 GDP

        • Belgium +1.0% y/y vs preliminary +1.0%

        • Finland 0.0% y/y vs preliminary +0.5%

        • Sweden +1.4% y/y vs preliminary +0.9%

      • Italy

        • Aug Preliminary CPI +1.6% y/y vs consensus +1.7% and prior +1.7%

        • Q2 GDP +0.4% y/y vs preliminary +0.4%; (0.1%) q/q vs preliminary (0.1%)

      • Germany

        • Jul Retail Sales +1.9% y/y vs consensus +2.6% and prior revised +2.4% from +4.9%

        • Aug Unemployment Change (9K) vs consensus +10K and prior +2K

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

        • Aug Preliminary CPI +2.2% y/y vs consensus +2.1% and prior +2.0%

      • France

        • Aug Preliminary CPI +0.9% y/y vs consensus +1.0% and prior +1.0%

        • Q2 GDP +0.8% y/y vs preliminary +0.7%

        • Jul Consumer Spending (0.3%) m/m vs consensus (0.3%) and prior +0.4% revised from +0.6%

        • Jul PPI +0.4% y/y vs consensus +0.4% and prior revised +0.3% from +0.2%

      • Spain

        • Aug Preliminary CPI +2.7% y/y vs consensus +2.8% and prior +2.7%

        • Jul Retail Sales +4.7% y/y vs consensus +5.8% and prior +6.2%

      • Portugal

        • Q2 GDP +1.9% y/y vs preliminary +1.9%

        • Aug Preliminary CPI +2.8% y/y vs consensus +2.8% and prior +2.6%

        • Jul Unemployment Rate 5.8% vs consensus 6.0% and prior revised 6.1% from 6.0%

    • Markets:

      • WTI Crude (Oct 25): ($0.55) or (0.85%) to $64.05

      • €-$ +0.0016 or +0.14% to 1.1701

      • £-$ (0.0002) or (0.02%) to 1.3509

      • €-£ +0.0017 to 0.8662

      • S&P 500 (0.69%)

      • Performance year-to-date

        • FTSE 100: +12.41%

        • DAX: +20.06%

        • CAC: +4.38%

        • MIB: +23.43%

        • Stoxx 600: +8.38%

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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