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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.23% to 9242.53, DAX (0.37%) to 23718.45, CAC40 +0.19% to 7749.39, STOXX 600 +0.06% to 552.39

Sep 09 ,2025

  • Synopsis:

    • European equity markets closed mostly higher. Basic resources, oil/gas and media the best performers; financial services, retail, auto/parts and Ind Goods & Svcs lag. German DAX underperforms amid broker rating changes. CAC relatively stable despite French political uncertainty. Follows positive close on Monday. US equities narrowly mixed in Tuesday midday trading.

    • Attention in Europe on French politics after PM Bayrou lost his confidence vote on Monday, as expected. Press reported President Macron to appoint a new prime minister within days. Widely thought he will look to the center-left for a leader, but candidate would need to secure support across the political spectrum to form a government and pass a budget. Le Pen's National Rally and leftist France Unbowed have called for an election.

    • Benchmark revision to US payrolls more negative than expected, driving pickup in Fed easing expectations. Labor market softening the big driver of the pickup in Fed easing expectations, though incremental support limited following big post-NFP rally in Treasuries and with the market already pricing in nearly 75 bp of rate cuts this year heading into today's update. Despite all the attention on labor market softening, no real shift in the recession avoidance expectations.

    • In other developments, Yonhap sources said South Korean delegation currently in US for talks to work out details of trade deal struck in July. Trade headlines have leaned hawkish over recent days with US-EU trade deal said to be under threat, China unwilling to offer meaningful concessions to US, US raid of Hyundai plant and associated risk to investment plans and India's wariness despite Trump softening his tone.

    • Quiet macro calendar in Europe. Of note, UK retail sales data via industry body BRC showed a boost in August sales, though outlook remains cautious. Limited Eurozone updates. Main attention remains on Thursday's ECB decision for hints on policy outlook with expectations for another steady hand.

    • M&A news dominate the headlines: Teck (TECK.B.CN) and Anglo American (AAL.LN) have announced their combination, forming Anglo Teck in deal expected to deliver annual pre-tax synergies of ~$800M by the end of the fourth year; in the pharma-sector, Novartis (NOVN.SW) acquired Tourmaline Bio, Inc (TRML), offering $48/sh and valuing Tourmaline Bio at ~$1.4B; i another deal, after some speculation last week, ASML (ASML.NA) and Mistral AI entered a strategic partnership, with ASML investing €1.3B in the Series C funding round of Mistral AI; on the syndicate front, NLFI further reduced its stake in ABN AMRO (ABN.NA) from 30.5% to ~20% and a holder is reportedly selling 3.4M Ferrovial (FER,SM) shares up for sale.

    • On the reporting front, Computacenter (CCC.LN), Dunelm Group (DNLM.LN), HMS Networks (HMS.SS) and Interparfums (ITP.FP) issued updates.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 08-Sep to 12-Sep attached) Baloise (BALN.SW), BioVersys (BIOV.SW), MCH Group (MCHN.SW), Antin Infrastructure Partners (ANTIN.FP), Jacquet Metals (JCQ.FP), HighCo (HCO.FP), Carmat (ALCAR.FP), Clas Ohlson (CLAS.B.SS), Inditex (ITX.SM), ElvalHalcor Hellenic Copper & Aluminium Industry (ELHA.GA), El.En. (ELN.IM), SYS-DAT (SYS.IM), Vistry Group (VTY.LN), Pan African Resources (PAF.LN), MHP (MHPC.LN), Central Asia Metals (CAML.LN), Gym Group (GYM.LN), Warpaint London (W7L.LN), Frontier Developments (FDEV.LN), Nexteq (NXQ.LN)will be amongst other names to update investors, whilst the macro-calendar releases will include Italy Jul industrial production, Spain Jul industrial production, Denmark Aug CPI, Norway Aug CPI, Sweden Jul industrial production, Greece Aug CPI, Jul industrial production, Portugal Aug final CPI, Netherlands Jul manufacturing production, Austria Jul industrial production, Finland Jul industrial production.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +1.33%, Oil & Gas +1.17%, Media +1.10%, Banks +0.98%, Telecom +0.78%, Travel & Leisure +0.39%, Insurance +0.27%, Technology +0.20%,

      • Underperformers:

        • Financial Svcs (0.91%), Retail (0.84%), Autos & Parts (0.59%), Ind Goods & Svcs (0.53%), Construct & Mtls (0.52%), Food & Beverage (0.48%), Chemicals (0.26%), Persnl & HHold Goods (0.21%), Utilities (0.18%), Health Care (0.05%), Real Estate +0.04%,

    • Macro/Peripheral markets:

      • Geopolitics

        • Israel carries out strike on senior Hamas leaders in Qatari capital - BBC

      • Central Banks

        • Euro Traders Revive $1.20 Bets With ECB-Fed Divergence in Focus - Bloomberg

        • ECB Push to Simplify Bank Rules Prompts Fears of Capital Demands - Bloomberg

      • EU

        • France and Germany Lead EU Push to Sanction Russian Oil Majors - Bloomberg

      • UK

        • Phillipson, Thornberry, Ribeiro-Addy and Powell enter Labour deputy race - The Guardian, BBC

      • France

        • France's Macron seeks new prime minister after government's collapse - Reuters

        • France joins Eurozone's 'periphery' as turmoil deepens, say investors - FT

      • Germany

        • Merz against unilateral determination of car climate targets - Handelsblatt

      • Italy

        • Italy's Lower Bond Yields Reap €13 Billion Windfall for Meloni - Bloomberg

      • Norway

        • Norway's resurgent right forces leftwing 'tutti-frutti' coalition - FT

    • Company news:

      • Trading Higher:

        • +11.4% AIFORIA.FH (Aiforia Technologies €3.35, +0.34) -- and Siemens Healthineers partner to expand availability of Aiforia's AI applications across Europe

        • +9.9% BPOST.BB (bpost €2.31, +0.21) -- initiated buy at Kepler Cheuvreux

        • +9.5% LUCE.LN (Luceco £1.30, +0.11) -- H1 earnings

        • +9.1% AAL.LN (Anglo American £24.92, +2.07) -- Teck, Anglo American to combine in merger of equals, form Anglo Teck

        • +6.8% SRB.LN (Serabi Gold £2.33, +0.15) -- exploration update for 2025 Brownfield drilling campaigns at Palito complex and Coringa mine in the Tapajós region of Pará State, Northern Brazil

        • +5.9% EUZ.GR (Eckert & Ziegler Strahlen- und Medizintechnik €17.26, +0.96) -- initiated buy at Berenberg

        • +5.2% SINCH.SS (Sinch SEK30.97, +1.53) -- new Chief Product Officer

        • +4.4% HBC.NO (Hofseth BioCare NOK1.88, +0.08) -- releases whitepaper demonstrating how its bioactive peptide ingredient ProGo uniquely provides complete GLP-1 support

        • +4.0% SOF.BB (Sofina €252.40, +9.60) -- Kepler Cheuvreux upgrade

        • +3.8% CCC.LN (Computacenter £24.08, +0.88) -- H1 earnings

        • +3.8% NTI.NO (Norsk Titanium NOK1.27, +0.05) -- new CEO

        • +3.5% RNO.FP (Renault €34.10, +1.17) -- Renault to introduce more affordable batteries for EVs and speed up development times for all models to better compete with Chinese rivals -- Reuters, citing CEO; initiated outperform with BNP Paribas Exane

        • +2.9% CIRSA.SM (Cirsa Enterprises €15.97, +0.45) -- Q2 earnings; initiated outperform at Oddo

        • +2.4% 2020.NO (2020 Bulkers NOK143.60, +3.40) -- Aug update

        • +2.3% BWE.NO (BW Energy NOK33.95, +0.75) -- completes $365M project finance facility to fund refurbishment and redeployment of Maromba FPSO

        • +2.0% PUB.FP (Publicis Groupe €84.28, +1.68) -- Oddo upgrade

        • +1.9% CHG.GR (CHAPTERS Group €38.50, +0.70) -- prelim H1 earnings

      • Trading Lower:

        • -18.8% ATORX.SS (Alligator Bioscience SEK4.01, -0.92) -- renegotiates outstanding loan from Fenja Capital

        • -14.7% MCG.LN (Mobico Group £0.27, -0.05) -- H1 earnings

        • -10.0% DNLM.LN (Dunelm Group £11.14, -1.24) -- FY earnings

        • -7.7% GMS.LN (Gulf Marine Services £0.17, -0.01) -- H1 earnings

        • -6.0% DEZ.GR (Deutz AG €9.34, -0.60) -- completes cash capital increase raising ~€131.1M

        • -3.8% GAMA.LN (Gamma Communications £10.20, -0.40) -- H1 earnings

        • -2.4% SAAB.B.SS (Saab SEK509.20, -12.30) -- initiated underweight at Barclays

        • -2.2% HAG.GR (HENSOLDT €90.30, -2.00) -- initiated equal weight at Barclays

        • -1.9% M12.GR (M1 Kliniken €13.72, -0.26) -- H1 earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Baloise (BALN.SW), BioVersys (BIOV.SW), MCH Group (MCHN.SW)

        • France: Antin Infrastructure Partners (ANTIN.FP), Jacquet Metals (JCQ.FP), HighCo (HCO.FP), Carmat (ALCAR.FP)

        • Nordics: Clas Ohlson (CLAS.B.SS)

        • Southern Europe: Inditex (ITX.SM), ElvalHalcor Hellenic Copper & Aluminium Industry (ELHA.GA), El.En. (ELN.IM), SYS-DAT (SYS.IM)

        • UK: Vistry Group (VTY.LN), Pan African Resources (PAF.LN), MHP (MHPC.LN), Central Asia Metals (CAML.LN), Gym Group (GYM.LN), Warpaint London (W7L.LN), Frontier Developments (FDEV.LN), Nexteq (NXQ.LN)

      • Trading Update:

        • UK: Associated British Foods (ABF.LN)

      • Traffic: Flughafen Zurich (FHZN.SW)

      • CMD/events: MEKO (MEKO.SS), Wartsila (WRT1V.FH)

  • Data:

    • Economics:

      • Norway Aug PPI (3.0%) y/y vs consensus (0.8%) and prior (0.3%)

      • France Jul Industrial Production (1.1%) m/m vs consensus (1.8%) and prior revised +3.7% from +3.8%

    • Markets:

      • WTI Crude (Oct 25): +$0.71 or +1.14% to $62.97

      • €-$ (0.0039) or (0.33%) to 1.1725

      • £-$ (0.0015) or (0.11%) to 1.3530

      • €-£ (0.0020) to 0.8665

      • S&P 500 +0.19%

      • Performance year-to-date

        • FTSE 100: +13.09%

        • DAX: +19.13%

        • CAC: +4.99%

        • MIB: +22.88%

        • Stoxx 600: +8.82%

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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