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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE +0.3%, DAX +0.4%, CAC +0.2%

Sep 08 ,2025

  • Synopsis

    • European equity markets set to open broadly higher after last week's downbeat performance when STOXX Europe 600 ended down ~(0.2%).

    • Spotlight remains on France ahead of today's confidence vote for PM Bayrou's government. France will face slew of sovereign debt rating reviews after the confidence vote, which is widely expected to result in collapse of Bayrou government. Assuming Bayrou loses today's vote and the government falls, Macron will be faced with some difficult choices; call new elections to try to re-establish a majority, appoint yet another new prime minister in the hope they can succeed where the previous four have failed, or even stand down himself, something he has repeatedly ruled out despite growing calls for him to go. (Sky News )

    • Oil prices higher this morning, with WTI Crude (Oct 25) +1.24% to $62.64, after last week's losses. Reuters cites prospect of more sanctions on Russian crude after an overnight strike on Ukraine offset OPEC+'s planned output increase. On weekend OPEC+ agreed to raise October output by 137Kbpd as initial step in restoring 1.65Mbpd supply tranche. However, group estimates October's actual increase may be low as 60Kbpd given some members already producing at capacity or face pressure to forego actual increases to compensate others for prior oversupply. Statement gave only generic guidance that future increases will depend on market conditions and may involve reversing or pausing previous hikes if necessary

    • European macro data releases out today include Germany Jul industrial production, trade balance, Eurozone Sep Sentix economic index, Denmark Jul industrial production, trade balance. In central banks, ECB's Villeroy chair the Paris EUROPLACE Conference in Zurich at 1830 CET.

    • Norway will vote today on the final day of the parliamentary election, with the ruling Labour Party narrowly favoured to remain in office, although there has been a surge in support for the populist rightwing Progress party led by Sylvi Listhaug. If Labour does win they could face drawn out negotiations with smaller leftwing parties. (Guardian , Reuters, Times )

    • The week ahead sees ECB interest rate decision, EIA short-term energy outlook, OPEC / IEA oil market reports, Germany Jul industrial production, UK Jul industrial/manufacturing production as well as earnings/updates from the likes of Baloise (BALN.SW), Inditex (ITX.SM) and Vistry Group (VTY.LN).

  • Politics/Macro/World News

    • UK

      • Prime London Home Prices Slump on Non-Dom Clampdown, Agent Says (Bloomberg)

      • UK launches £250m defence strategy to boost jobs (BBC)

    • France

      • French PM Bayrou braces for confidence vote loss (France24 )

      • The French government is on the brink - and Le Pen is the only winner (Guardian )

    • Norway

      • Public spending dominates Norway election (FT )

  • Top company news

    • Earnings/updates

      • MOVE.SW (Medacta Group) -- reports H1 net income €60.0M vs FactSet €41.4M [1 est]; confirms FY guidance

      • AEVS.SW (AEVIS VICTORIA) -- reports preliminary H1 net revenue CHF546.0M vs year-ago CHF463.1M

      • Also reporting today

        • Earnings:

          • France: Abivax (ABVX.FP), Seche Environnement (SCHP.FP)

          • Southern Europe: NewPrinces (NWL.IM), Pharmanutra (PHN.IM), SECO (IOT.IM), Aeroporto Guglielmo Marconi di Bologna (ADB.IM), Valsoia (VLS.IM)

          • UK: Phoenix Group Holdings (PHNX.LN), Concurrent Technologies (CNC.LN)

        • Traffic: Icelandair Group (ICEAIR.IR)

        • CMD/events: Idorsia (IDIA.SW) aprocitentan (TRYVIO/JERAYGO) investor Q&A webcast, Intralot (INLOT.GA) CMD

    • M&A

      • ASML.NA (ASML Holding) -- ASML putting €1.3B into Mistral AI's €1.7B fundraise - Reuters

      • TEF.SM (Telefonica) -- exploring acquisition of telecom assets in Germany, UK, Spain and Brazil - Reuters, citing CEO Murtra

      • LLOY.LN (Lloyds Banking Group) -- nearing deal to acquire Curve for £120M - Sky News

      • ENT.LN (Entain) -- issues sale documents for Venues business - Australian Financial Review

      • ABVX.FP (Abivax) -- trading higher; circulation of comments from Betaville cited

      • VPK.NA (Royal Vopak) -- Vopak Terquimsa divested terminal in Barcelona to Tradebe Port Services; will report exceptional gain in Q3

      • Investment firm Permira exploring sale of contract drugmaker Cambrex at a valuation of ~$4B - FT

    • Healthcare

      • JNJ (Johnson & Johnson) -- presents new analyses from Phase 3 MARIPOSA study at IASLC 2025 WCLC

      • JNJ (Johnson & Johnson) -- NEJM publishes results from Johnson & Johnson's Phase 3 MARIPOSA study

      • AZN.LN (AstraZeneca) -- presents results from Phase III FLAURA2 trial of Tagrisso at WCLC

      • BMRN (Biomarin Pharmaceutical) -- announces phase 3 data for PALYNZIQ (pegvaliase-pqpz) in adolescents with phenylketonuria

      • DBV.FP (DBV Technologies) -- has entered into a $150M sales agreement - 424B5

      • 2IVB.GR (Indivior) -- SEC filing: SCHEDULE 13D/A (Filed by Two Seas Capital LP)

      • VLA.FP (Valneva) -- SEC filing: SCHEDULE 13D/A (Filed by Bpifrance Participations SA)

    • Other

      • HFG.GR (HelloFresh) -- announces Co-founder and CEO International Thomas Griesel to depart upon expiration of term on 30-Apr-26

      • SREN.SW (Swiss Re) -- to pursue 2050 net zero GHG targets without SBTi validation (3-Sep)

      • TRMD.A.DC (TORM Plc) -- SEC filing: SCHEDULE 13D/A (Filed by Oaktree Capital Group Holdings GP, LLC)

      • CTY1S.FH (Citycon) -- CEO Zaslavsky steps down, will be replaced by Eshel Pesti as CEO effective immediately

      • UBSG.SW (UBS Group) -- UBS does not consider shrinking the bank to be a strategy - Reuters

      • EVD.GR (CTS Eventim) -- CFO Holger Hohrein to leave at the end of the year

      • SWED.A.SS (Swedbank) -- SEC closes investigation of Swedbank

      • Estimated weekend box office revenues in US, Canada $122.7M, (16.9%) y/y - Box Office Mojo

      • FDA to fast track reviews of nicotine pouches of Philip Morris International, Altria, Reynolds American, Turning Point Brands - Reuters

      • Guinea pressuring Rio Tinto to invest in downstream processing or steelmaking - Australian Financial Review

  • Key rating changes

    • Upgrades

      • HEN3.GR (Henkel) -- to outperform from neutral at BNP Paribas Exane

      • GYC.GR (Grand City Properties) -- to buy from hold at Jefferies

      • VNA.GR (Vonovia) -- to buy from hold at Jefferies

      • STB.NO (Storebrand) -- to buy from hold at Danske Bank

      • YAR.NO (Yara International) -- to buy from hold at Danske Bank

      • SAN.FP (Sanofi) -- to overweight from equal-weight at Morgan Stanley

    • Downgrades

      • JDEP.NA (JDE Peet's) -- to neutral from outperform at BNP Paribas Exane

      • RYA.ID (Ryanair Holdings) -- to neutral from buy at Goldman Sachs

      • VOLV.B.SS (Volvo) -- to neutral from buy at Goldman Sachs

    • Other Actions

      • JET2.LN (Jet2) -- resumed buy at Peel Hunt; prior rating was buy

      • Jefferies initiates BALD.B.SS, KOJAMO.FH, TRIAN.B.SS

      • HEN3.GR (Henkel) -- initiated outperform at Santander

  • Data

    • Nikkei +1.41% to 43625.21

    • Hang Seng +0.44% to 25529.20

    • Shanghai Composite +0.18% to 3819.39

    • S&P futures +4.3 vs prior close of 6489.8

    • €-$ (0.0002) or (0.02%) to 1.1718

    • $-¥ (0.06) or (0.04%) to 148.10

    • €-¥ (0.08) or (0.05%) to 173.55

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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