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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.14% to 10508.61, DAX +0.10% to 24934.67, CAC40 (0.20%) to 8430.79, STOXX 600 +0.52% to 639.31

Jun 17 ,2026

  • Synopsis:

    • European equity markets closed mostly higher on Wednesday, with IBEX +1.4%, OMX Copenhagen +1.2%, AEX +1.2% among the leading regional outperformers, while CAC 40 (0.2%) bucked the trend. Tech, banks the top performers; autos the main laggard.

    • Quiet session with attention pulled ahead to Kevin Warsh's first FOMC meeting this afternoon. No rate change expected but will be a big focus on the tone out of Warsh's press conference. Iran MOU also in the headlines with discussions around draft text of the 14-point plan in the press, still scheduled for Friday signing (though Trump said today US could "go right back to dropping bombs" if a final agreement does not measure up). Not much elsewhere. SPCX taking a breather after big gains since its last-Friday IPO.

    • In Europe, ECB officials have pointed out that even after the US-Iran deal, the impact on inflation from energy supply disruptions will reverberate for some time. UK inflation data the main data update ahead of tomorrow's BoE decision. Headline CPI softer-than-forecast with unchanged reading, core also missed, but services prices picked up. Will support expectations for BoE to leave policy unchanged, though services prices may worry hawks. Riksbank left policy unchanged as expected. Said probability of a rate hike this year has increased. ECB wage growth tracker was unchanged at 2.6% for end-2026 versus 3.0% in 2025. Final CPI unchanged from flash at 3.2% y/y. In the US, headline retail sales, retail sales ex-autos, and control group sales all beat, all at two-month high. Beyond gasoline, gains included ecomm, furniture, though food services and drinking places contracted m/m.

    • European autos sector under pressure as BMW adjusted FY26 guidance downward, including now guiding EBIT Margin Segment Automotive: in the corridor 1-3% (before: in the corridor 4-6%). Overall, analysts were surprised by the magnitude of the margin reset. RBC said BMW's China/APAC struggles were largely macro-driven, indicating a negative read-across for the European OEMs such as Mercedes and VW, which firm says could issue similar profit warnings prior to Q2 earnings .

    • Looking ahead to tomorrow's agenda: in central banks, SNB interest rate decision at 9:30CET, press conf 10:00. No change expected in the 0.00% benchmark interest rate. Norges Bank interest rate decision at 10:00CET. Benchmark interest rate expected to be left unchanged at 3.50%. BOE interest rate decision at 12noon BST and the benchmark interest rate is expected to be left unchanged at 3.75%. Czech Republic central bank interest rate decision at 14:30CET, with benchmark interest rate expected to be left unchanged at 1.75%. Turkey central bank releases minutes of last MPC meeting. Also of note tomorrow is the Makerfield by election - polling 7:00-22:00BST - candidates - results are expected early on Fri. There are also by-elections in Aberdeen South as well as Arbroath & Broughty Ferry. Meanwhile, previews of tomorrow's UK labor market update expect continuation of recent dynamics, which include ongoing rise in jobless claims and further pressure on wage growth. Relatively quiet on the corporate agenda tomorrow; Tesco (TSCO.LN) will issue a Q1 trading statement, and Besi (BESI.NA) holds an investor day.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Banks +1.85%, Technology +1.54%, Construct & Mtls +1.08%, Health Care +1.07%, Retail +0.94%, Media +0.66%, Ind Goods & Svcs +0.55%,

      • Underperformers:

        • Autos & Parts (3.28%), Telecom (1.18%), Persnl & HHold Goods (1.04%), Travel & Leisure (0.72%), Food & Beverage (0.45%), Real Estate (0.44%), Basic Resources (0.41%), Financial Svcs (0.27%), Oil & Gas (0.14%), Utilities +0.02%, Insurance +0.09%, Chemicals +0.47%

    • Macro:

      • Andy Burnham will not take a job in Keir Starmer's government if he wins Makerfield by-election (Manchester Evening News )

      • EU Chief Reaches Out to Moscow to Set Up Back Channel to Putin (Bloomberg)

      • Iran deal includes $300 billion fund, more than half of which already committed, source says (Reuters).

      • Aberdeen South, the byelection where one topic dominates (Guardian)

    • Company news:

      • Notable Gainers

        • +15.9% BIOVIC.B.SS (Biovica International SEK0.37, +0.05) -- Q4 earnings

        • +14.9% PZC.LN (PZ Cussons £1.05, +0.14) -- raises FY26 profit guidance

        • +13.4% LNZ.AV (Lenzing €27.50, +3.25) -- Berenberg upgrade

        • +10.2% STMN.SW (Straumann Holding CHF102.80, +9.52) -- raises FY26 profit guidance

        • +9.2% ATS.AV (AT & S Austria Technologie & Systemtechnik €215.00, +18.00) -- €400M deeply subordinated perpetual CB placing

        • +9.1% SNWS.LN (Smiths News £0.69, +0.06) -- News UK agreement extension

        • +9.0% BFF.IM (BFF Bank SpA €3.31, +0.27) -- Banco BPM considers joint bid for BFF Bank with Amco -- Milano Finanza

        • +8.6% AUS.GR (AT & S Austria Technologie & Systemtechnik €215.00, +17.00) -- €400M deeply subordinated perpetual CB placing

        • +7.4% CTY1S.FH (Citycon €2.91, +0.20) -- G City Ltd. tender on remaining shares

        • +6.8% TPE.GR (PVA TePla €45.24, +2.88) -- FY26 guidance reaffirmed

        • +6.2% AIXA.GR (Aixtron €59.56, +3.46) -- tech sector move

        • +4.9% SEDANA.SS (Sedana Medical SEK8.55, +0.40) -- NDA submission for inhaled sedation in the ICU

        • +4.8% CBK.GR (Commerzbank €38.06, +1.74) -- Unicredit nears control of Commerzbank as potential total stake rises to 55.6% after final-day of public exchange offer; offer moves into premium territory -- Repubblica

        • +4.4% IBAB.BB (Ion Beam Applications €16.74, +0.70) -- management changes

        • +3.1% NEXT.NO (Next Biometrics Group NOK0.93, +0.03) -- insider holds 17.26% stake

        • +2.1% IDR.SM (Indra Sistemas €56.54, +1.16) -- Indra finalizing agreement with Rheinmetall and MAN to use their platforms in contracts valued at €3B -- Expansion

        • +1.6% LMN.SW (lastminute.com CHF12.70, +0.20) -- business reorganisation

      • Notable Decliners

        • -8.5% BMW.GR (Bayerische Motoren Werke €62.04, -5.74) -- lowers FY26 guidance

        • -4.4% MBG.GR (Mercedes-Benz Group €46.69, -2.15) -- read-across BMW

        • -3.7% FILA.IM (FILA - Fabbrica Italiana Lapis ed Affini €9.08, -0.34) -- F.I.L.A places 4.2M shares of DOMS Industries at INR2,200.34/share

        • -3.6% VOW3.GR (Volkswagen €86.34, -3.20) -- read-across BMW

        • -3.5% OMG.LN (Oxford Metrics £0.45, -0.02) -- H1 earnings

        • -3.0% KURN.SW (Kuros Biosciences CHF19.59, -0.61) -- CMD update

        • -2.0% DIA.IM (Diasorin €65.02, -1.36) -- Deutsche Bank downgrade

        • -1.7% HAS.LN (Hays Plc £0.35, -0.01) -- sale of its operations in six European countries to Meraki Capital for ~£4M

        • -1.6% TKA.GR (ThyssenKrupp €10.97, -0.17) -- board approves plans to spin off tk accelis (formerly thyssenkrupp Materials Services)

        • -1.5% HLAG.GR (Hapag-Lloyd €112.20, -1.70) -- MSC plans to acquire stake in Hapag-Lloyd -- Manager magazine

        • -1.1% ZEAL.DC (Zealand Pharma DKK282.00, -3.00) -- Berenberg downgrade

    • EU companies reporting tomorrow:

      • Earnings:

        • Nordics: SkiStar (SKIS.B.SS), Norcod (NCOD.NO)

        • UK: XPS Pensions Group (XPS.LN)

      • Trading Update:

        • UK: Tesco (TSCO.LN)

      • CMD/Events: BE Semiconductor Industries (BESI.NA), tonies (TNIE.GR)

  • Data:

    • Economics:

      • UK May

        • CPI +2.8% y/y vs consensus +3.0% and prior +2.8%

        • Output PPI +4.0% y/y vs consensus +4.0% and prior revised +4.1% from +4.0%

      • Austria May CPI +3.7% y/y vs prelim +3.7%; +0.1% m/m vs prelim +0.1%

        • EU Harmonised: +3.7% y/y vs prelim +3.7%

    • Markets:

      • WTI Crude (Jul 26): +$0.83 or +1.09% to $76.88

      • €-$ (0.0015) or (0.13%) to 1.1594

      • £-$ (0.0032) or (0.24%) to 1.3395

      • €-£ +0.0007 to 0.8656

      • S&P 500 +0.06%

      • Performance year-to-date

        • FTSE 100: +5.81%

        • DAX: +1.81%

        • CAC: +3.45%

        • MIB: +17.02%

        • Stoxx 600: +7.96%

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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