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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.05% to 9483.58, DAX +0.03% to 24385.78, CAC40 +0.04% to 7974.85, STOXX 600 (0.17%) to 569.27

Oct 07 ,2025

  • Synopsis:

    • Main european equity markets closed broadly flat and rangebound, off best levels, with periphery lower. Personal/household goods, food & beverage, chemicals the best performers while banks, media and technology main laggards at the close. US equities lower in midday trading, near worst levels. Follows Monday's mostly higher finish that saw S&P 500 up for a seventh straight session, major averages all finish at fresh record highs. Treasuries firmer with a bit of curve flattening; yields down ~2.3 bp. Dollar index up 0.3%, extending Monday's strength. Gold up 0.9%, surpassing $4K/oz for first time today. Bitcoin futures down 2.5%. WTI crude off 0.3%.

    • Focus remains on political developments in Europe. French President Macron has given PM Lecornu 48 hours to negotiate with political parties to prevent the country from falling deeper into crisis. France's Le Maire said he has stepped down from government to facilitate the formation of a new cabinet after complaints from the Republicans. Rating agencies have already issued fresh warnings about France's sovereign credit score, while BCA Research said French bonds are "uninvestable".

    • On the macro data front, in the UK Halifax house price index unexpectedly fell in September by 0.3% m/m versus consensus for 0.2% gain and compared with prior 0.2% increase. Left y/y increase of 1.3% versus 2.2% forecast and prior 2% gain. Halifax said slight dip reflects a market that is broadly stable, with prices up 0.3% since the start of the year. German industrial orders fell 0.8% m/m in Aug versus (2.7%) in Jul, defying analyst expectations of a 1.1% increase. ECB President Lagarde told lawmakers on Monday that inflation remains close to target and expects the economy to pick up in 2026. Similar remarks also made by Vice President de Guindos and Chief Economist Lane. More conjecture on UK budget with analysis highlighting that Chancellor Reeves will benefit from sticky inflation via higher incomes, profits and prices in cash terms. Reeves is expected to make a pitch at JPMorgan tech event in London for more IPOs.

    • In corporate news flow, out of the UK, Shell (SHEL.LN) issued Q3 2025 update note ahead of 30-Oct results. B&M European Value Retail (BME.LN) posted H1 trading update with weak operational performance in UK weighing while Imperial Brands (IMB.LN) shares traded higher following positive trading update and announcement of £1.45B share buyback for FY26. CVS Group (CVSG.LN), Telecom Plus (TEP.LN) and LondonMetric Property (LMP.LN), Great Portland Estates (GPE.LN) also provided Q2/H1 trading updates. Elsewhere, Banca Generali (BGN.IM), Banca Mediolanum (BMED.IM) and FinecoBank (FBK.IM) reported Sep total net inflows. In Germany, TRATON (8TRA.GR) shares were down today post Q3 pre-close call, Rheinmetall (RH.GR) also held a Q3 pre-close call and indicated slower-than-expected order intake. HelloFresh (HFG.GR) shares also traded down after FSIS issued a public health alert for ready-to-eat meals containing spinach that may be contaminated with listeria. BMW Group (BMW.GR) reported Q3 worldwide automotive deliveries of 588,300 units, +8.8% y/y.

    • Amidst limited M&A news flow, EFG International (EFGN.SW) completing the acquisition of Swiss private bank Cité Gestion, GF (GF.SW) agrees to divest its Iron Casting business, EU clears Pandox's (PNDX.B.SS) acquisition of Dalata Hotel Group (DHG.ID) and OXB (OXB.LN) acquires commercial-scale viral vector facility in North Carolina. Reportedly, Zurich Insurance reportedly won't tender its Sabadell (SAB.SM) shares in connection with offer from BBVA (BBVA.SM).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Persnl & HHold Goods +1.58%, Food & Beverage +0.60%, Chemicals +0.42%, Insurance +0.27%, Utilities +0.26%, Oil & Gas +0.12%, Construct & Mtls +0.03%, Telecom (0.06%)

      • Underperformers:

        • Media (1.06%), Technology (1.01%), Banks (0.83%), Retail (0.45%), Ind Goods & Svcs (0.43%), Health Care (0.43%), Real Estate (0.29%), Autos & Parts (0.27%), Travel & Leisure (0.23%), Basic Resources (0.21%), Financial Svcs (0.21%)

    • Macro/Peripheral markets:

      • France:

        • Lecornu in final negotiations at the request of Emmanuel Macron to reunite a fractured coalition (France24 )

        • France pitches scrapping some capital demands on top euro zone banks (Reuters )

      • Central banks:

        • ECB's Lagarde notes inflation is near the central bank's 2% target, with economic growth expected in 2026 (Bloomberg)

      • Germany:

        • German manufacturing orders fall 0.8% in August, with notable declines in automotive and pharmaceutical sectors (Bloomberg)

      • UK:

        • BoE Governor Bailey says UK innovation needs supportive investment environment (Reuters)

        • Halifax UK house price index unexpectedly fell in September by 0.3% m/m versus consensus for 0.2% gain and compared with prior 0.2% increase

      • Portugal:

        • Portugal central bank economic bulletin

          • Economic activity is expected to grow by 1.9% in 2025, 2.2% in 2026, and 1.7% in 2027, and inflation is expected to stabilize at around 2%

      • Spain:

        • Sluggish summer brings down forecast for tourism growth in Spain (Reuters )

      • Geopolitics:

        • EU eyes frozen Russian assets for Ukraine's war reparations (Reuters)

        • EU clamps down on Russian diplomats to foil spy plots (FT)

      • Ireland:

        • Statement by Minister Chambers on Budget 2026

        • Budget 2026 will 'invest in our future' and secure jobs, says Donohoe (RTE )

      • Norway:

        • Government introduces clear objectives for a sustainable and socioeconomically beneficial data center industry, highlighting security requirements for data center

    • Company news:

      • Notable Gainers

        • +11.7% DBV.FP (DBV Technologies €2.58, +0.27) -- to issue and sell $30M of ADSs under ATM program

        • +9.6% CVSG.LN (CVS Group £13.70, +1.20) -- FY earnings; Singer Capital Markets upgrade

        • +9.2% NDA.GR (Aurubis €120.40, +10.10) -- approves a modified dividend policy; raise targeted payout ratio

        • +8.7% ALCLS.FP (Cellectis SA €3.26, +0.26) -- to present data on non-viral gene therapy and TALE base editors at the ESGCT Annual Congress

        • +6.5% SKA.B.SS (Skanska SEK261.60, +16.00) -- Jefferies upgrade; to construct standby power generation facility in Newark for $148M

        • +4.2% NEL.NO (NEL ASA NOK2.52, +0.10) -- order

        • +3.9% RTO.LN (Rentokil Initial £4.10, +0.15) -- Bernstein upgrade

        • +3.4% IMB.LN (Imperial Brands £31.05, +1.01) -- FY trading update

        • +2.9% CLAS.B.SS (Clas Ohlson SEK362.00, +10.20) -- Sep sales

        • +2.7% RNO.FP (Renault €36.16, +0.96) -- Renault CEO reportedly looking to reduce costs with a potential 3K job cut plan -- L'Informe

        • +2.3% FCH.LN (Funding Circle Holdings £1.25, +0.03) -- notes that the case concerning Azzurro Associates and the personal guarantors of two defaulted loans has been resolved

        • +2.1% QLT.LN (Quilter £1.65, +0.03) -- RBC Capital Markets sees company as a potentially particularly attractive WM acquisition target for Lloyds Banking Group

        • +1.8% SAA.LN (M&C Saatchi £1.43, +0.02) -- announces acquisition of Women's Sports Group Limited

      • Notable Decliners

        • -7.8% BME.LN (B&M European Value Retail £2.36, -0.20) -- H1 trading update

        • -7.0% FQT.GR (Frequentis €82.40, -6.20) -- Oddo downgrade

        • -5.5% VLA.FP (Valneva €4.60, -0.27) -- issues business update; announces refinancing debt with Pharmakon Advisors

        • -4.1% NTGY.SM (Naturgy Energy Group €25.84, -1.10) -- places 34.1M treasury shares at €25.90/share through JPMorgan

        • -3.9% HFG.GR (HelloFresh €6.99, -0.28) -- shares trading lower after FSIS Issues Public Health Alert For Ready-To-Eat Meals Containing Spinach That May Be Contaminated With Listeria

        • -3.3% NNIT.DC (NNIT DKK57.90, -2.00) -- ABG Sundal Collier downgrade

        • -3.0% 8TRA.GR (TRATON €27.08, -0.84) -- Q3 pre-close call

        • -3.0% GHH.LN (Gooch & Housego £5.86, -0.18) -- FY trading update

        • -2.8% NOVO.B.DC (Novo Nordisk DKK375.70, -10.85) -- Novo Nordisk said to be cutting production line jobs at key North Carolina plant -- Reuters

        • -2.0% BAYN.GR (Bayer AG €27.78, -0.57) -- study update

        • -2.0% BMW.GR (Bayerische Motoren Werke €87.48, -1.80) -- Q3 deliveries

        • -1.8% IVSO.SS (INVISIO SEK296.50, -5.50) -- prelim sales

        • -0.2% RHM.GR (Rheinmetall €1,884.50, -4.50) -- Q3 pre-close call

        • -0.2% FDEV.LN (Frontier Developments £4.63, -0.01) -- completes of £10M Share Buyback Programme

    • EU companies reporting tomorrow:

      • Earnings:

        • Nordics: Dustin Group (DUST.SS), Diamyd Medical (DMYD.B.SS)

        • UK: Netcall (NET.LN)

      • Trading Update:

        • DACHs: OMV (OMV.AV)

        • Nordics: TGS-NOPEC Geophysical Co. (TGS.NO), Kid (KID.NO)

        • UK: UNITE Group (UTG.LN)

      • CMD/Events: Aurubis (NDA.GR) livestream, Inventiva (IVA.FP) registration, Kalmar (KALMAR.FH) Business Update Call registration

  • Data:

    • Economics:

      • Germany Aug factory orders (0.8%) m/m vs consensus +1.3%, prior revised (2.7%) from (2.9%)

      • UK Sep house price index +1.3% y/y vs consensus +2.2%, prior revised +2.0% from +2.2%; (0.3%) m/m vs consensus +0.2% and prior revised +0.2% from +0.3%

      • France Aug trade balance (€5.5B) vs consensus (€5.2B), prior revised (€5.7B) from (€5.6B)

      • Netherlands Sep CPI +3.3% y/y vs preliminary +3.3%

      • Norway Aug manufacturing production +0.7% m/m vs consensus +0.8%, prior 0.0%

    • Markets:

      • WTI Crude (Nov 25): ($0.01) or (0.02%) to $61.68

      • €-$ (0.0040) or (0.34%) to 1.1675

      • £-$ (0.0040) or (0.30%) to 1.3445

      • €-£ (0.0002) to 0.8685

      • S&P 500 (0.40%)

      • Performance year-to-date

        • FTSE 100: +16.04%

        • DAX: +22.49%

        • CAC: +8.05%

        • MIB: +25.99%

        • Stoxx 600: +12.14%

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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