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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.14% to 9221.44, DAX +0.89% to 23807.13, CAC40 +0.78% to 7734.84, STOXX 600 +0.52% to 552.04

Sep 08 ,2025

  • Synopsis:

    • European equity markets closed mostly higher, following last week's downbeat performance. Cyclicals outperforming vs defensives. Retail, Construction/Materials, Industrials, Banks and Technology the best performers. Telecom, Healthcare, and Food/Beverage the biggest laggards.

    • In Europe, attention on implications for French PM Bayrou's confidence vote, which will take place after European close. Expectations is government will fail to win support needed to survive. UK PM Starmer's cabinet reshuffle also getting a lot of headlines after resignation of Deputy PM Rayner on Friday over tax affairs. In the US, Fed still under scrutiny from Trump administration with Bessent writing that central bank has put its own independence at risk via overuse of nonstandard policies. Trade headlines have leaned somewhat hawkish with expansion of steel and aluminum tariffs reportedly threatening US-EU trade truce and China not willing to make any meaningful concessions. More AI scrutiny with report about OpenAI's cash burn.

    • Still no signs of breakthrough in US-India trade standoff with India's finance minister adamant country will continue to buy Russian crude. Both Modi and Trump sought to downplay concerns about US-India relationship. Media sources have also highlighted how US and China making little progress in trade talks. US detention of South Korean workers in Georgia generating headlines with Seoul to repatriate employees via charter flights. Visa uncertainty view as potential complication for Korean investment plans in US. However, President Trump later acknowledged need for highly skilled workers and indicated administration would reassess visa situation.

    • On macro data front, German industrial production and trade data the early releases. Latest German industrial production numbers recorded first rise since March with July data up 1.3% m/m, in line with consensus, and compared with 0.1% drop in June revised up from 1.9% fall initially reported. Latest update from UK's REC and KPMG showed UK wages growing at the slowest pace since Covid pandemic and demand for workers fell further.

    • On a light reporting front, Swiss names Medacta Group (MOVE.SW) and AEVIS VICTORIA (AEVS.SW) reported before the open whilst - still in the DACH region - Hannover Re (HNR1.GR) said that it is anticipating a stable to slightly lower prices overall. In M&A news, local sources wrote that Nestlé Health (NOVN.SW) CEO Anna Mohl offered to acquire Seres Therapeutics (MCRB) whilst - in the telecom sector - Telefonica (TEF.SM) is reportedly exploring acquisition of telecom assets in Germany, UK, Spain and Brazil; in the UK, Lloyds Banking Group (LLOY.LN) is nearing a deal to acquire Curve for £120M , Sky News reported. In other notable corporate updates, SEC closed its investigation into Swedbank (SWED.A.BB) without enforcement. Citycon (CTY1S.FH) CEO stepped down, while at CTS Eventim (EVD.GR) CFO stepped down.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 08-Sep to 12-Sep attached) M1 Kliniken (M12.GR), Rubis (RUI.FP), Fleury Michon (ALFLE.FP), Haulotte Group (PIG.FP), Metlen Energy & Metals (MYTIL.GA), Puig Brands (PUIG.SM), Moltiply Group (MOL.IM), GR Sarantis (SAR.GA), LU-VE (LUVE.IM), Fourlis Holdings (FOYRK.GA), B&C Speakers (BEC.IM), Computacenter (CCC.LN), Gamma Communications (GAMA.LN), Midwich Group (MIDW.LN), Luceco (LUCE.LN), James Fisher & Sons (FSJ.LN), accesso Technology Group (ACSO.LN), Somero Enterprises (SOM.LN), The Pebble Group (PEBB.LN), and Likewise Group (LIKE.LN) will be amongst other names to update investors, whilst the macro-calendar releases will include France Jul industrial production, Netherlands Aug final CPI, Norway Aug PPI, UK Aug retail sales monitor - BRC.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Retail +1.65%, Construct & Mtls +1.60%, Ind Goods & Svcs +1.44%, Banks +1.29%, Technology +1.21%, Media +0.94%, Chemicals +0.91%, Oil & Gas +0.64%,

      • Underperformers:

        • Telecom (1.53%), Food & Beverage (0.80%), Health Care (0.58%), Autos & Parts (0.40%), Real Estate (0.02%), Persnl & HHold Goods +0.01%, Insurance +0.12%, Utilities +0.14%, Financial Svcs +0.36%, Basic Resources +0.39%, Travel & Leisure +0.46%,

    • Macro/Peripheral markets:

      • Geopolitics

        • OPEC+ Pushes Back Against Wall Street in Showdown Over Oil Markets - Bloomberg

      • Central Banks

        • ECB Vows to Cut Approval Times for 'Simple' SRTs to 10 Days - Bloomberg

      • EU

        • EU envoy in Washington for talks on Russia sanctions, Commission says - Reuters

        • EU weighs sanctions on China for Russian energy imports - FT

        • US demands EU stops buying Russian gas if it wants new sanctions on Putin - FT

      • UK

        • Labour reveals tight timetable for deputy leadership nominations - The Guardian

        • Government must deliver workers' rights bill in full, says TUC - BBC

        • UK launches defence growth strategy to try to boost jobs - BBC

      • France

        • Le Pen's appeal trial scheduled for January - Politico

        • France cannot 'erase reality' of fiscal risks, Bayrou says with govt on brink - Reuters

      • Germany

        • SPD wants to talk to Greens about AfD ban motion - Handelsblatt

        • Merz Warns China Ready to Exploit German 'Trade Vulnerabilities' - Bloomberg

        • German Industry Production Rises for First Time Since March - Bloomberg

      • Norway

        • Norwegians vote with Labour Party narrowly favoured to win re-election - Reuters

    • Company news:

      • Trading Higher:

        • +18.5% TET.LN (Treatt £2.65, +0.42) -- 260p/share recommended cash offer by Natara

        • +16.2% ATORX.SS (Alligator Bioscience SEK4.75, +0.68) -- evaluates mitazalimab in combination with FOLFOX chemotherapy in previously treated biliary tract cancer

        • +10.6% PANR.LN (Pantheon Resources £0.32, +0.03) -- drilling of Dubhe-1 appraisal well lateral

        • +10.1% PAF.LN (Pan African Resources $0.77, +0.07) -- to apply for trading on LSE's main market

        • +3.5% KTN.GR (Kontron €24.88, +0.84) -- confirms exemption from US trade tariffs

        • +3.4% SWP.FP (Sword Group €35.10, +1.15) -- contract

        • +3.3% JST.GR (JOST Werke €49.20, +1.60) -- Oddo upgrade

        • +3.2% MKS.LN (Marks & Spencer Group £3.51, +0.11) -- Citi upgrade

        • +3.1% HEIJM.NA (Heijmans €57.45, +1.75) -- contract

        • +3.1% TFBANK.SS (TF Bank SEK161.46, +4.84) -- Aug new consumer lending

        • +2.3% STB.NO (Storebrand NOK153.40, +3.40) -- Danske Bank upgrade

        • +2.3% WKL.NA (Wolters Kluwer €110.55, +2.45) -- Bernstein upgrade

        • +2.2% MOVE.SW (Medacta Group CHF145.60, +3.20) -- H1 earnings

        • +2.1% VTY.LN (Vistry Group £6.32, +0.13) -- long-term investment joint venture with Homes England

        • +1.9% KOJAMO.FH (Kojamo €10.88, +0.20) -- initiated buy at Jefferies

        • +1.6% GYC.GR (Grand City Properties €11.18, +0.18) -- Jeffriries upgrade

      • Trading Lower:

        • -15.0% TRX.LN (Tissue Regenix Group £0.25, -0.05) -- H1 trading update; Chairman resigns

        • -9.1% ALZCUR.SS (AlzeCure Pharma SEK3.18, -0.32) -- study results

        • -8.5% IQE.LN (IQE £0.08, -0.01) -- FY trading update; strategic review update

        • -6.9% PHNX.LN (Phoenix Group Holdings £6.25, -0.47) -- H1 earnings

        • -5.7% WRKS.LN (TheWorks.co.uk £0.50, -0.03) -- FY trading update

        • -3.3% EDEN.FP (Edenred €22.83, -0.79) -- Turkish Competition Board launches investigation into the four largest meal voucher providers

        • -2.0% ADEN.SW (Adecco Group CHF22.84, -0.48) -- excluded from Swiss Leader Index

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: M1 Kliniken (M12.GR)

        • France: Rubis (RUI.FP), Fleury Michon (ALFLE.FP), Haulotte Group (PIG.FP)

        • Southern Europe: Metlen Energy & Metals (MYTIL.GA), Puig Brands (PUIG.SM), Moltiply Group (MOL.IM), GR Sarantis (SAR.GA), LU-VE (LUVE.IM), Fourlis Holdings (FOYRK.GA), B&C Speakers (BEC.IM)

        • UK: Computacenter (CCC.LN), Gamma Communications (GAMA.LN), Midwich Group (MIDW.LN), Luceco (LUCE.LN), James Fisher & Sons (FSJ.LN), accesso Technology Group (ACSO.LN), Somero Enterprises (SOM.LN), The Pebble Group (PEBB.LN), Likewise Group (LIKE.LN)

      • Trading Update:

        • France: Groupe Partouche (PARP.FP), LightOn (ALTAI.FP)

      • CMD/events: HMS Networks (HMS.SS), DOF Group (DOFG.NO), Envipco Holding (ENVI.NA), Pantheon Resources (PANR.LN)

  • Data:

    • Economics:

      • Germany

        • Jul Trade Balance €14.7B vs consensus €15.4B and prior revised €15.4B from €14.9B

        • Jul Industrial Production +1.3% m/m vs consensus +1.3% and prior revised (0.1%) from (1.9%)

      • Denmark Jul Manufacturing Production +1.2% m/m vs consensus (1.6%) and prior revised +3.4% from +2.7%

      • Eurozone Sep Sentix Economic Index (9.2) vs consensus (2.2) and prior (3.7)

    • Markets:

      • WTI Crude (Oct 25): +$0.75 or +1.21% to $62.62

      • €-$ +0.0028 or +0.24% to 1.1748

      • £-$ +0.0033 or +0.25% to 1.3538

      • €-£ (0.0001) to 0.8677

      • S&P 500 +0.35%

      • Performance year-to-date

        • FTSE 100: +12.83%

        • DAX: +19.58%

        • CAC: +4.80%

        • MIB: +22.05%

        • Stoxx 600: +8.75%

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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