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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.32% to 10461.95, DAX +1.17% to 25231.20, CAC40 +0.79% to 7897.19, STOXX 600 +0.75% to 631.35

Oct 02 ,2026

  • Synopsis:

    • European equity markets ended mostly higher Friday with gains led by German Dax +1.2%, Netherlands AEX +1.2%, and Sweden OMX +1.1%. Follows sharp losses on Thursday that saw Stoxx 600 post three-month lows, with the index down ~1% on the week

    • Market today keying off softer-than-expected US September payrolls report that saw the unemployment rate tick up alongside downward revisions to July and August jobs numbers. Treasury yields dropping across the curve with futures now reflecting only ~18 bp of hiking through December; comes after 10Y/30Y yields hit 24-year highs earlier this week.

    • Weaker oil also in focus today. WTI Crude (Nov 26) (3.0%) to ~$90/bbl. G7 decided to release diesel and crude stocks; up to 100M barrels over four months. Comes against backdrop of improved Gulf oil exports but signals about possible renewal of hostilities (official statement, Bloomberg).

    • Technology the strongest-performing sector, with European semiconductor and equipment names/AI winners basket benefiting from positive US read-across and continued optimism around AI and data-center demand. AI headlines today have revolved around Anthropic IPO before Thanksgiving, Amazon (AMZN) focus on balance sheet health and Broadcom (AVGO) chip financing push.

    • Among stock movers in focus, JD Wetherspoon (JDW.LN), alongside FY earnings, reported 8.6% like-for-like sales growth in nine-week period ended 27-Sep, supported by hot weather; expects profit for FY2027 to be in line with market expectations. IG Group Holdings (IGG.LN) slumped over 22% on back of its trading update: Q3 total revenue expected to be £240M, down ~(14%) y/y, reflecting lower OTC revenue retention. Kering (KER.FP) another decliner as a slew of firms cut price targets following the pre-close call, which tempered expectations for Gucci. Kion (KGX.GR) and Auto1 (AG1.GR) also victims of their downbeat pre-close calls.

    • Elsewhere, investors increasingly worried about European public finances. OAT-Bund 10-year spread reached ~149 bps Friday, widest since the euro crisis. French yields sat near 4.94% while Bunds fell toward 3.45%, indicating flight to safety rather than common rates move. Italy widened faster than France. BTP-Bund spread jumped 16 bps Thursday and opened Friday near 123 bps. Two-year gap almost doubled to 55 bps, biggest rise since 2020. Greece moved with it.

    • The week ahead sees OPEC+ meeting, Eurogroup meeting, a by-election in the UK, Sep services PMIs from across the region as well as earnings/updates from GEA Group (G1A.GR), Industrivarden (INDU.A.SS), OMV (OMV.AV), Repsol (REP.SM), Suedzucker (SZU.GR) and Tesco (TSCO.LN).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Technology +2.64%, Basic Resources +2.16%, Telecom +1.79%, Travel & Leisure +1.46%, Ind Goods & Svcs +1.45%, Construct & Mtls +1.44%, Chemicals +1.25%, Insurance +0.89%, Utilities +0.88%,

      • Underperformers:

        • Health Care (0.81%), Media (0.22%), Autos & Parts (0.21%), Retail (0.16%), Persnl & HHold Goods (0.06%), Banks +0.14%, Real Estate +0.15%, Oil & Gas +0.40%, Financial Svcs +0.49%, Food & Beverage +0.70%,

    • Macro:

      • EU

        • Italy and Greece seek leeway on EU fiscal rules (FT )

      • UK

        • UK Considers Cuts to Home Energy-Efficiency Plan to Fund Defense (Bloomberg)

      • Germany

        • Investors seek refuge from bond rout in haven German debt (FT)

        • German government gives the go-ahead for the reprivatization of the gas company Sefe (Boersen-Zeitung)

      • Italy

        • Govt set to approve budget with deviation of around €7bn says Tajani (ANSA)

      • Spain

        • Spanish Congress rejects housing laws despite Sánchez's warning: 'They'll be judged sooner than they think' (euronews)

        • Spain's Sánchez weighs calling snap election after housing vote defeat (POLITICO )

      • Sweden

        • Swedish opposition leader gets second chance to form government (Reuters)

    • Company news:

      • Trading Higher:

        • +11.7% JDW.LN (JD Wetherspoon £8.77, +0.96) -- FY earnings, strong current trading

        • +8.3% IFX.GR (Infineon Technologies €61.27, +4.96) -- EU tech sector/AI winners move

        • +5.8% MVIR.SS (Medivir SEK1.69, +0.09) -- DNB Carnegie published new commissioned research report initiating coverage on the group

        • +3.8% ITP.FP (Interparfums €29.72, +1.08) -- Kepler Cheuvreux upgrade

        • +3.1% RYA.ID (Ryanair Holdings €23.25, +0.71) -- Sep numbers

        • +3.0% BT.A.LN (BT Group £1.97, +0.06) -- BT in talks with government to get approval to possibly buy TalkTalk - FT

        • +3.0% GLEN.LN (Glencore £0.00, +0.16) -- now expect full-year 2026 Marketing Adj. EBIT to exceed $5B

        • +2.7% ACS.SM (ACS SA €93.95, +2.45) -- reinitiated outperform at Oddo

        • +2.4% SALM.NO (Salmar NOK580.00, +13.50) -- initiated buy at Goldamn Sachs

        • +2.2% AAF.LN (Airtel Africa £3.11, +0.07) -- Airtel Money starts IPO

        • +2.0% BAER.SW (Julius Baer Group CHF73.34, +1.42) -- announces CHF 600M share buy-back and revised capital distribution policy

        • +2.0% VOD.LN (Vodafone Group £1.26, +0.02)

        • +1.9% ATCO.A.SS (Atlas Copco SEK208.60, +4.00) -- ompletes acquisition of Euroklimat Air-Conditioning & Refrigeration Co

        • +1.8% ADXN.SW (Addex Therapeutics CHF0.02, -0.00)

        • +1.2% STLAM.IM (Stellantis €3.97, +0.05) -- US Q3 sales

        • +0.5% SSPG.LN (SSP Group £1.93, +0.01) -- BNP Paribas Exane upgrade

        • +0.3% JET2.LN (Jet2 £14.54, +0.04) -- Davy upgrade

      • Trading Lower:

        • -22.1% IGG.LN (IG Group Holdings £9.51, -2.83) -- Q3 trading update

        • -15.5% GURN.SW (Gurit Holding CHF53.00, -8.90) -- UBS downgrade

        • -8.1% KGX.GR (Kion Group €0.00, -3.16) -- pre-close call

        • -5.6% PLUS.LN (Plus500 £29.42, -1.92) -- Q3 update: continued to perform strongly during the quarter and continues to trade in-line with current market expectation

        • -4.6% AG1.GR (Auto1 Group €0.00, -0.80) -- pre-close call

        • -4.4% CPI.LN (Capita £2.25, -0.10) -- comments on statement regarding National Audit Office review of Civil Service Pension Scheme administration

        • -3.3% KER.FP (Kering €213.20, -7.20) -- Citi, Barclays and JPMorgan lower price targets

        • -3.3% SAN.FP (Sanofi €69.99, -2.38) -- Regeneron announces new results from Phase 2 COURAGE trial

        • -3.3% LNZ.AV (Lenzing €13.30, -0.48) -- Berenberg downgrade

        • -2.5% MF.FP (Wendel €77.65, -1.95) -- Wendel finalizes sale of its stake in Stahl (excluding Muno) for an enterprise value of €2.1B to Henkel

        • -2.4% SVIK.SS (Studsvik SEK213.00, -5.00) -- appoints new Chaiman

        • -2.4% CRBN.NA (Corbion €21.78, -0.54) -- CEO to step down

        • -1.8% SWEC.B.SS (Sweco SEK125.40, -2.30) -- president and CEO steps down

        • -1.6% GENL.LN (Genel Energy £0.56, -0.01) -- Capricorn Energy updates on recommended cash acquisition by company

    • EU companies reporting Monday:

      • Trading Update:

        • DACHs: GEA Group (G1A.GR)

        • Southern Europe: Repsol (REP.SM)

      • Sales: Avanza Bank Holding (AZA.SS), flatexDEGIRO (FTK.GR), Nordnet (SAVE.SS)

      • CMD/Events: Air Liquide (AI.FP) at 15:00CET, Andritz (ANDR.AV) at 8:30CET, Deutsche Telekom (DTE.GR) AI Investor Day at 12noon CET, Rainbow Rare Earths (RBW.LN) business update call, Ferrovial (FER.SM) business update call

  • Data:

    • Economics:

      • Spain Sep Unemployment Change +23.59K vs consensus +17.6K and prior +44.42K

      • Italy Aug Retail Sales +0.5% y/y vs consensus +0.7% and prior revised +1.0% from +0.8%

      • Eurozone Sep Preliminary CPI +3.8% y/y vs consensus +3.6% and prior +3.2%

    • Markets:

      • WTI Crude (Nov 26): ($2.79) or (3.00%) to $90.08

      • €-$ +0.0014 or +0.12% to 1.1259

      • £-$ +0.0036 or +0.27% to 1.3230

      • €-£ (0.0009) to 0.8513

      • S&P 500 +0.69%

      • Performance year-to-date

        • FTSE 100: +5.34%

        • DAX: +3.02%

        • CAC: (3.10%)

        • MIB: +12.32%

        • Stoxx 600: +6.61%

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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