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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE (flat), DAX +0.2%, CAC +0.1%, IBEX flat, MIB +0.1%

Sep 01 ,2025

  • Synopsis

    • European equity markets set to open broadly flat to marginally higher as a new month of trading gets underway. Note US markets closed today for the Labor Day holiday.

    • Last week, European equity markets finished lower (STOXX Europe 600 (1.99%)) after three consecutive weeks of higher levels. French political developments dominated European macro headlines after French PM Bayrou called a confidence vote, though it is not expected to have an impact on broader European sentiment. US President Trump's attempt to fire Fed Governor Cook due to mortgage improprieties injected some volatility into markets, as it played into concerns over Fed independence.

    • Overall for the month of August, European equity markets were higher; the Stoxx Europe 600 posted a five-month peak, and the FTSE 100 hit a record high.

    • Asian equities mixed Monday. Alibaba driving Hang Seng's outperformance following earnings. Japan, Korean and Taiwan benchmarks weighed down by tech/semis. Australia also picking up losses. Thai baht rallying on latest political developments. Crude pulling lower while gold extending gains to new record high. Bitcoin down to two-month low. Markets looking through latest trade developments. Very busy morning of economic data. China official manufacturing PMI stuck in contraction with production logging slightly stronger growth while declines in new orders and exports eased marginally. Non-manufacturing activity lifted on the back of services. RatingDog (formerly Caixin) China manufacturing PMI showed factory activity turned positive.

    • European macro data releases out today 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

    • In central banks, Bundesbank's Theurer speech at 16:00CET at event hosted by The Family Entrepreneurs. ECB's Schnabel chairs panel at 14:00CET and Cipollone at 16:00 at ECB Legal Conf, ECB's Lagarde speech at 19:00. In politics, EU's von der Leyen visits Lithuania and Romania and in UK, House of Commons business resumes after summer recess.

    • Elsewhere, Finland's government will discuss the draft budget during its budget session (through Tue). Norway's minister of finance Stoltenberg delivers Schweigaard Lecture 2025 at 12:15CET. Chancellor Merz will visit North Rhine-Westphalia as part of his inaugural visit to all federal states, attends 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. France, Italy, Spain Aug new car registrations due for release.

    • Annual review of STOXX blue-chip indices will be announced today.

  • Politics/Macro/World News

    • France

      • French PM Bayrou tries to shore up support for budget plan ahead of confidence vote (France24 )

      • French business warns of recession risk as political turmoil deepens (FT )

      • Marine Le Pen seizes her moment to shake France (POLITICO )

    • EU

      • Von der Leyen plans twice yearly review of EU countries' defence investments (FT )

      • Olli Rehn: ECB may have to lower interest rates again (H S)

    • Finland

      • Government outlines next year's budget - additional savings of around a billion expected (HS )

  • Top company news

    • Earnings/updates

      • ROSN.RU (Rosneft Oil) -- reports H1 net income RUB245B vs year-ago RUB773B

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

      • MGNT.RU (Magnit) -- reports H1 net income RUB6.54B vs year-ago RUB21.99B

    • M&A

      • RUL.AU (RPMGlobal Holdings) -- enters into Exclusivity Deed with Caterpillar following receipt of non-binding indicative proposal at A$5.00/sh

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

      • UHR.SW (Swatch Group) -- CEO rules out going private because it would require the family to go into debt - FuW

      • ABDN.LN (Aberdeen Group) -- in exclusive talks to sell Finimize to unreported buyer - Sky News

      • Elliott affiliate recommended as winner of Citgo auction - Reuters

      • CapVest Partners nearing deal to acquire Stada Arzneimittel for €10B - Bloomberg

    • Healthcare

      • BIIB (Biogen) -- FDA Approves LEQEMBI IQLIK (lecanemab-irmb) subcutaneous injection for maintenance dosing for the treatment of early Alzheimer's Disease

      • AZN.LN (AstraZeneca) -- announces Baxdrostat demonstrated statistically significant and clinically meaningful reduction in systolic blood pressure in patients with hard-to-control hypertension in the BaxHTN Phase III ?trial

      • NOVN.SW (Novartis) -- announces results from V-DIFFERENCE; Leqvio shows statistically significant and clinically meaningful early LDL-C goal achievement with less muscle pain

      • GSK.LN (GSK Plc) -- FDA grants orphan drug designation to GlaxoSmithKline for monoclonal antibody for treatment of ADPKD

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

      • SAN.FP (Sanofi) -- announces FDA approval of Wayrilz for immune thrombocytopenia

      • ALNY (Alnylam Pharmaceuticals) -- and Genentech to advance Zilebesiran into global phase 3 cardiovascular outcomes trial for people with uncontrolled hypertension

      • CYTK (Cytokinetics) -- presents, publishes primary results from MAPLE-HCM; to host webcast 2-Sep

      • CYTK (Cytokinetics) -- presents, publishes new data on aficamten at EWSC Congress 2025

      • BBIO (BridgeBio Pharma) -- presents data from ATTRibute-CM study of acoramidis at ESC Congress 2025

      • BAYN.GR (Bayer AG) -- Phase III VICTOR trial of Bayer's Verquvo fails to meet primary endpoint

      • YPSN.SW (Ypsomed Holding) -- Ypsomed receives FDA clearance for SmartPilot

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

      • VIMIAN.SS (Vimian Group) -- Court rules largest seller of VOI shall indemnify Vimian Group with $40.2M (€34.4M)

    • Other

      • DSFIR.NA (DSM-Firmenich) -- appoints Philip Eykerman as Chief Strategy, M&A and Transformation Officer as of 1-Jan-26

      • WISE.LN (Wise Plc) -- Wise exploring application to become UK bank - London Times

      • ORSTED.DC (Ørsted) -- Equinor to participate in Ørsted Rights Issue; will subscribe for new shares at consideration of up to DKK 6B (~$939M)

      • GF.SW (Georg Fischer) -- appoints Anna Engvall as new Head of Investor Relations and Chief Risk Officer

      • Estimated weekend box office revenues in US, Canada $62.7M, (23.8%) y/y - Box Office Mojo

      • Fed publishes capital requirements for large banks, effective 1-Oct

      • Norway agrees to acquire Type 26 frigates from the UK

  • Key rating changes

    • Upgrades

      • SHUR.BB (Shurgard Self Storage) -- to equal-weight from underweight at Morgan Stanley

      • KCR.FH (Konecranes) -- to buy from neutral at Goldman Sachs

      • VACN.SW (VAT Group) -- to buy from neutral at Goldman Sachs

      • NDA.SE.SS (Nordea Bank) -- to buy from hold at SEB

      • GLE.FP (Societe Generale) -- to buy from hold at Deutsche Bank

    • Downgrades

      • SGRO.LN (Segro) -- to equal-weight from overweight at Morgan Stanley

      • SHC.LN (Shaftesbury Capital) -- to equal-weight from overweight at Morgan Stanley

      • SHB.A.SS (Svenska Handelsbanken) -- to hold from buy at SEB

  • Data

    • Nikkei (1.46%) to 42094.86

    • Hang Seng +1.98% to 25573.61

    • Shanghai Composite +0.25% to 3867.69

    • S&P futures (5.5) vs prior close of 6472.8

    • €-$ +0.0018 or +0.15% to 1.1714

    • $-¥ (0.09) or (0.06%) to 146.93

    • €-¥ +0.16 or +0.09% to 172.10

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.
Please refer to "Terms Of Use".

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