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StreetAccount Summary - EU Market Recap: FTSE 100 +0.10% to 9196.34, DAX +0.57% to 24037.33, CAC40 +0.05% to 7707.90, STOXX 600 +0.23% to 551.43

Sep 01 ,2025

  • Synopsis:

    • European equity markets mostly closed higher, though shares off best levels seen during the morning.

    • Shares initially opened in positive territory, with attempts to move higher proving short-lived, leaving pan-European indices to trade in a narrow range just above opening levels. Later in the day two new lower trading ranges was established, a handful of country benchmark indices moving into negative territory on the day, before a late move higher into the close.

    • Belgium, Netherlands, Switzerland all (0.1%) and Spain (0.0%) join the CAC and FTSE100 in leading underperformers

    • Bundesbank's Theurer spoke at event hosted by The Family Entrepreneurs. ECB's Schnabel and Cipollone chair separate panels at ECB Legal Conf, ECB's Lagarde speech at 19:00.

    • Economics was dominated by the latest manufacturing PMI releases with Eurozone data at 38-month high whilst UK's final read was revised lower, standing at a three-month low. Also in the UK there were contrasting business surveys, The Institute of Directors (IoD) business confidence measure jumped to the highest level since last October's budget, whilst CBI Growth Indicator showed private sector signals broad-based contraction ahead. Housing market in focus in UK with update from Nationwide and BoE mortgage approval

    • In politics, in France, PM Bayrou will receive the various party leaders as seeks backing for his government ahead of confidence vote next week. EU's von der Leyen visits Lithuania and Romania as she continues her visits to member States facing the challenges of sharing borders with Russia or Belarus. In UK, House of Commons business resumes after summer recess. Following MPs question on Work and Pensions, there were debates on Regional Transport Inequality as well as Devolution in Scotland. Finland's government will discuss the draft budget during its budget session (through Tue). Norway's minister of finance Stoltenberg delivered the Schweigaard Lecture. Chancellor Merz visited North Rhine-Westphalia as part of his inaugural visit to all federal states, attended State cabinet meeting.

    • There's an informal meeting of EU ministers for European affairs (through Tue). Also, Bled Strategic Forum (through Tue), President of the European Council Costa, will deliver a keynote speech, EU Commissioner Lahbib participates. Reportedly, France and UK will chair a meeting (hybrid format) of the Coalition of the willing on Thur. Ukraine President Zelensky to attend.

    • Only a handful of company released earnings/updates with Kainos Group (KNOS.LN) shares responding positively whilst Burkhalter Holding (BRKN.SWP and Dialight (DIA.LN) saw their shares move in the opposite direction.

    • M&A news flow included CapVest Partners confirming deal to acquire majority stake in Stada Arzneimittel (+STADA.GR) from Bain Capital, Cinven, whilst several small deals were announced and/or closed, primarily by Nordic companies. Reportedly, Deutsche Bank (DBK.GR) puts India retail banking business up for sale and Lightsource bp (BP.LN) in exclusive talks to sell A$800M ($522.9M) Australian renewable energy assets to Aula Energy

    • Swedbank (SWED.A.SS), SpareBank 1 SMN (MING.NO), SpareBank 1 Nord-Norge (NONG.NO), SpareBank 1 Sør-Norge (SB1NO.NO), others announce new investment bank SB1 Markets begins operations in Sweden

    • Spain Aug new car registrations +17.2% y/y and France +7.3% y/y (comparable working days) with data for Italy due later.

    • STOXX will announce results of its annual review of European blue-chip indices.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Ind Goods & Svcs +0.91%, Banks +0.80%, Autos & Parts +0.69%, Telecom +0.44%, Health Care +0.39%, Media +0.24%

      • Underperformers:

        • Utilities (0.92%), Insurance (0.57%), Persnl & HHold Goods (0.27%), Retail (0.22%), Basic Resources (0.10%), Construct & Mtls (0.08%), Oil & Gas (0.06%), Food & Beverage (0.00%), Financial Svcs (0.00%), Real Estate +0.00%, Travel & Leisure +0.00%, Chemicals +0.00%, Technology +0.01%

    • Macro/Peripheral markets:

      • EU:

        • Von der Leyen plans twice yearly review of EU countries' defense investments - FT

      • Central banks:

        • Rehn says ECB may have to lower rates again - HS

      • Finland:

        • State will become the majority shareholder of Finnish automotive contract manufacturer Valmet Automotive - release

      • France:

        • PM Bayrou tries to shore up support ahead of confidence vote - France 24; acknowledges talks this week may fail to save him - Bloomberg

        • Le Pen seizes her moment to shake France - Politico

      • Norway:

        • Labour Party government launches a new national security plan for digital infrastructure; battery capacity for up to three days to be added to several base stations as back-up for if the power goes out - release

      • UK:

        • Business confidence hits highest level since budget - London Times

        • Reform to 'cut council tax bills by £350' in public sector pensions crackdown - Telegraph

        • Fear and loathing in the City over new bank tax - London Times

        • North Sea oil and gas extraction would be maximised says Conservative Party Leader - Guardian

        • PM Starmer announced a major shake-up of his top team in Downing Street - press release, BBC, Sky News

        • Chancellor Reeves appoints growth adviser - press release; Reeves sidelined as Starmer hires new economic team - Independent

    • Company news:

      • Notable Gainers

        • +97.8% IMM.LN (ImmuPharma) -- files groundbreaking new patent application for P140

        • +22.8% KNOS.LN (Kainos Group) -- Trading Update; now expects revenues for the year ending 31-Mar-26 at the upper end of consensus forecasts

        • +11.8% TMV.GR (TeamViewer) -- buy from underperform at BofA

        • +7.9% DOM.LN (Domino's Pizza Group) -- launches £20M share buyback program; expectations for FY25 remain unchanged

        • +7.4% ONCO.SS (Oncopeptides) -- to present real-world data confirming efficacy and safety of Pepaxti at IMS annual meeting

        • +4.8% KCR.FH (Konecranes) -- buy from neutral ay Goldman Sachs

        • +3.6% ORSTED.DC (Ørsted) -- Equinor to participate in company rights issue

          • +0.5% EQNR.NO (Equinor) -- wildcat well 7117/4-1 in PL 1238 classified as dry - NOD

        • +3.5% ALBPS.FP (Biophytis) -- unveils Phase 2 Obesity Trial Strategy with BIO101 in Europe and Brazil

        • +3.4% GEN.LN (Genuit Group) -- acquires Monodraught for £55.6M

        • +2.9% RR.LN (Rolls-Royce Holdings) -- denies it's considering IPO for its small nuclear reactor unit - Reuters

        • +2.8% VACN.SW (VAT Group) -- buy from neutral ay Goldman Sachs

        • +2.8% SUP.LN (Supreme) -- acquires trade and IP of carpet care brand 1001 for £1.7M

        • +2.3% BIOA.B.SS (BioArctic) -- FDA Approves LEQEMBI IQLIK (lecanemab-irmb) subcutaneous injection for maintenance dosing for the treatment of early Alzheimer's Disease

        • +2.1% MUX.GR (Mutares SE & Co KGaA) -- completes acquisition of Fuentes from Lineage Group

        • +1.9% BA.LN (BAE Systems) -- Norway selects Type 26 frigates

        • +1.8% NOVO.B.DC (Novo Nordisk) -- presents data from STEER study of Wegovy at ESC Congress 2025

        • +1.8% ALMA.FH (Alma Media) -- acquires Effortia from Boston Information Group; price undisclosed

        • +1.7% KOJAMO.FH (Kojamo) -- buy from neutral at Van Lanschot Kempen

        • +1.0% GLE.FP (Societe Generale) -- buy from hold at Deutsche Bank

          • On earnings/updates: INDU.A.SS (Industrivarden)

      • Notable Decliners

        • -12.2% BRKN.SW (Burkhalter Holding) -- H1 EPS CHF2.26 vs year-ago CHF2.19

        • -11.5% RECSI.NO (REC Silicon) -- preliminary results for the mandatory offer from Anchor AS to acquire all remaining shares in REC Silicon

        • -5.6% DIA.LN (Dialight) -- trading update

        • -5.2% TIG.LN (Team Internet Group) -- H1 EPS 5.93c vs year-ago 10.92c

        • -2.7% PSM.GR (ProSiebenSat.1 Media) -- sell from hold at Warburg Research

        • -2.6 % REJL.B.SS (Rejlers) -- acquires majority stake in Spring Advisor; price undisclosed

        • -2.6% AG1.AV (Auto1 Group) -- hold from buy at mwb research

        • -2.4% TAALA.FH (Taaleri) -- clarifies its strategy and updates long-term financial targets; cuts long term operating profit growth guidance

        • -1.1% KBCA.BB (KBC Ancora) -- FY EPS €4.10 vs year-ago €4.78

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: InPost (INPST.NA), Theon International (THEON.NA)

        • DACHs: Partners Group Holding (PGHN.SW), dormakaba Holding (DOKA.SW), Romande Energie Holding (REHN.SW), InnoTec TSS (TSS.GR)

        • Southern Europe: eDreams ODIGEO (EDR.SM)

        • UK: Ashtead Group (AHT.LN), Oxford Nanopore Technologies (ONT.LN), Johnson Service Group (JSG.LN), Everplay (EVPL.LN), Alumasc Group (ALU.LN), Michelmersh Brick Holdings (MBH.LN)

        • Other: Uniphar (UPR.ID)

      • CMD/events: Coloplast (COLO.B.DC), Taaleri (TAALA.FH)

  • Data:

    • Economics:

      • Aug manufacturing PMI

        • Ireland 51.6 vs consensus 53.0, prior 53.2

        • Netherlands 51.9 vs consensus 51.4, prior 51.9

        • Russia 48.7 vs consensus 46.7, prior 47.0

        • Sweden 55.3 vs consensus 53.7, prior revised 54.4 from 54.2

        • Spain 54.3 vs consensus 52.0, prior 51.9

        • Switzerland 49.0 vs consensus 47.0, prior 48.8

        • Italy 50.4 vs consensus 49.8, prior 49.8

        • Greece 54.5 vs consensus 52.4, prior 51.7

        • Norway 49.6 vs consensus 50.4, prior 50.9

        • France 50.4 vs preliminary 49.9

        • Germany 49.8 vs preliminary 49.9

        • Eurozone 50.7 vs preliminary 50.5

        • UK 47.0 vs preliminary 47.3

      • Netherlands Jul retail sales y/y +5.0% vs consensus +2.7%, prior revised +3.4% from +3.3%

      • UK

        • Aug

          • House price index +2.1% y/y vs prior +2.4%; (0.1%) m/m vs consensus +0.2%, prior +0.5% from +0.6% - Nationwide

          • Economic confidence index (61) vs prior (72) - IoD Directors

        • Jul

          • M4 money supply +0.1% m/m vs consensus +0.2%, prior +0.3%

          • Mortgage approvals 65.35K vs consensus 64.0K, prior revised 64.57K from 64.17K

      • Switzerland Jul retail sales +0.7% y/y vs consensus +3.6%, prior revised +3.9% from +3.8%

      • Eurozone Jul unemployment rate 6.2% vs consensus 6.2%, prior 6.2%

      • Italy Jul unemployment rate 6.0% vs consensus 6.2%, prior revised 6.2% from 6.3%

      • Austria Aug unemployment rate 7.0% vs consensus 6.7%, prior 6.7%

      • Ireland Aug preliminary HICP +1.8% y/y vs consensus +1.8%, prior +1.6%

    • Markets:

      • WTI Crude (Oct 25): +$0.67 or +1.05% to $64.68

      • €-$ +0.0006 or +0.05% to 1.1702

      • £-$ +0.0042 or +0.31% to 1.3545

      • €-£ (0.0023) to 0.8638

      • S&P 500 closed

      • Performance year-to-date:

        • FTSE 100: +12.52%

        • DAX: +20.74%

        • CAC: +4.43%

        • MIB: +24.06%

        • Stoxx 600: +8.63%

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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