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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.19%, DAX +0.16%, CAC40 (0.11%)

Oct 08 ,2025

  • Synopsis

    • European equity markets are set for a mostly positive open amidst mostly lower Asian equities Wednesday. Japan and Australia flat while Hong Kong and Taiwan logging steepest declines. Mainland China and South Korea remain closed for holiday. S&P 500 futures up slightly afterhours.

    • At the Conservative Party conf, Leader Badenoch speech at 11:00BST. UK's Foreign Secretary Lammy holds talks with over 15 European ministers to promote peace, stability and cooperation in the Western Balkans.

    • In central banks, BOE's Mill's speech at 8:10BST at conf hosted by AFME whilst Bank of Italy's Panetta delivers a speech at 9:30CET at conf title Cooperative Financial Institutions in the XXI Century for Global Economic and Social Development. ECB's Buch panellist at 11:15CET, ECB's Elderson at 12:30, ECB's Tuominen moferates panel at 15:00 at Conf organised by Finantsinspektsioon. Denmark central bank's Krogstrup speaks at 15:10CET at Nykredit Capital Markets Day. BOE's Pill speech at 16:00BST at event held at the Univ. of Birmingham whilst ECB's Lagarde video message at 18:00CET at 55th anniv. event of the Werner Repor. BOE's Dixon panellist at 21:00BST at conf hosted by Federal Reserve Bank of Richmond (Tue-Wed) whilst BOE publishes FPC meeting minutes on the same day. Poland central bank interest rate decision at 15:00CET. Expectations are for a cut of (25bps) to 4.5%. Iceland central bank expected to leave benchmark interest rate unchanged at 7.5% with its decision at 9:30BST.

    • Macro data due include Germany Aug industrial production and Sweden Sep preliminary CPI.

    • In earnings, Bayerische Motoren Werke (BMW.GR) updated outlook for FY25 and now expects FY Group Earnings before Tax to decline slightly vs prior guidance on same level as previous year. Aurubis (NDA.GR) provided a CMD update and guides FY25/26 operating EBITDA between €580M-€680M with ROCE between 7-9%. Aryzta (ARYN.SW) announced CEO Michael Schai to step down with immediate effect and expects 2025 EBITDA will be at least €300M on like for like basis vs FactSet €330.3M. Elsewhere, Euronext (ENX.FP) reported September volumes and Salmar (SALM.NO) reported Q3 consolidated harvest volumes (1,000 tgw) 93.2.

    • In M&A, ABB Limited (ABBN.SW) will divest its Robotics division to SoftBank Group (9984.JP) for an enterprise value of $5.375B.

    • Verisure (+VSURE.SS) IPO scheduled to start trading.

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

  • Macro

    • UK PM Starmer visits India to build business ties after clinching trade deal - Reuters

    • EU to halve steel import quotas to preserve domestic industry - Reuters

  • Top company news

    • Earnings/updates

      • Benelux:

        • UMI.BB (Umicore) -- launches sale and subsequent lease in of permanent gold inventories; to generate ~€410M in net cash proceeds

      • DACHs:

        • BMW.GR (Bayerische Motoren Werke) -- provides updated outlook for FY25

        • NDA.GR (Aurubis) -- AG sees FY25/26 operating EBITDA between €580M-€680M; ROCE between 7%-9% -- CMD

        • ARYN.SW (Aryzta) -- CEO Michael Schai to step down with immediate effect; company expects 2025 EBITDA will be at least €300M on like for like basis (FactSet €330.3M)

      • France:

        • ENX.FP (Euronext) -- reports September volumes

        • SIGHT.FP (GenSight Biologics) -- reports cash and cash equivalents totalled €0.6M as of 30-Sep-25 vs €0.3M as of 30-Jun-25

        • TRACT.FP (Teract) -- reports FY net income (€47.9M) vs year-ago (€68.9M)

      • Nordics:

        • KID.NO (Kid) -- reports preliminary Q3 revenue NOK902.0M vs FactSet NOK968.8M [6 est, NOK953.7-979M]

        • TGS.NO (TGS-NOPEC Geophysical Co.) -- operational update: expects Q3 multi-client investment to be ~ $86M vs year-ago $129.4M

        • SALM.NO (Salmar) -- reports Q3 consolidated harvest volumes (1,000 tgw) 93.2

        • EMGS.NO (Electromagnetic Geoservices) -- reports Q3 vessel activity and multi-client sales update

    • M&A

      • ABBN.SW (ABB Limited) -- agrees to divest its Robotics division to SoftBank Group for an enterprise value of $5.375B

      • RLF.SW (RELIEF THERAPEUTICS Holding) -- and NeuroX sign definitive agreement for business combination

      • HEIA.NA (Heineken) -- FIFCO's shareholders approve sale of the company's beverage, food, and retail business to Heineken

      • ACA.FP (Credit Agricole) -- acquires 9.9% minority stake in Crelan SA/NV

      • SPIE.FP (SPIE) -- announces agreement for acquisition of ECOexperts Automation

      • UBXN.SW (u-blox Holding) -- u-blox holder Janus Henderson will not tender its shares for Advent's takeover bid - Bloomberg

      • ANOD.B.SS (Addnode Group) -- acquires SolidCAD in Canada; purchase price at closing amounts to SEK 850M

    • Healthcare

      • SAN.FP (Sanofi) -- Sanofi's AlphaMedix (212Pb-DOTAMTATE) achieved all primary efficacy endpoints in phase 2 study, demonstrating clinically meaningful benefits in patients with gastroenteropancreatic neuroendocrine tumors

      • VLA.FP (Valneva) -- Street Takeaways - Valneva refinancing and revised FY25 guidance

      • +BOEHRINGER (Boehringer Ingelheim) -- FDA approves Boehringer Ingelheim's Jascayd (nerandomilast) to treat idiopathic pulmonary fibrosis

      • +BOEHRINGER (Boehringer Ingelheim) -- Follow-up: FDA approves Boehringer Ingelheim's Jascayd (nerandomilast) to treat IPF

      • CRNA.NO (Circio Holding) -- announces publication of comprehensive data package demonstrating AAV-circVec in vivo tissue-specific proof-of-concept

    • Other

      • HAYPP.SS (Haypp Group) -- announces US subsidiary Northerner Scandinavia Inc has reached settlement in lawsuit filed by San Francisco City Attorney

      • VSURE.SS (Verisure) -- 238.1M share IPO priced at €13.25/share through DNB Carnegie, Goldman, Morgan Stanley

      • NDX1.GR (Nordex) -- secures order to supply 236 MW for wind projects in North America

      • GLEN.LN (Glencore) -- Australian Federal and Queensland Governments to jointly invest up to A$600M ($394M) over next three years in Glencore's Mount Isa Copper Smelter and Townsville Refinery

      • AI.FP (Air Liquide) -- secures new hydrogen supply agreements in US

      • STJ.LN (St. James's Place) -- to roll out low-cost funds following pressure from UK regulator over charging structure - FT

      • Equifax announces changes to credit score offerings

      • EU Commission proposes plan to protect EU steel industry from unfair impacts of global overcapacity

      • UK's FCA consults on motor finance compensation scheme; consultation on the proposed redress scheme closes on 18-Nov-25

  • Key rating changes

    • Upgrades

      • Barclays upgrades SPSN.SW; downgrades PSPN.SW

      • EDPR.PL (EDP Renovaveis) -- outperform from neutral at BNP Paribas Exane

      • RWE.GR (RWE) -- outperform from neutral at BNP Paribas Exane

      • ANOD.B.SS (Addnode Group) -- to buy from hold at Pareto

      • NOKIA.FH (Nokia) -- to buy from hold at DNB Carnegie

      • SAND.SS (Sandvik) -- to overweight from neutral at JPMorgan

    • Downgrades

      • NHY.NO (Norsk Hydro) -- hold from buy at Pareto

      • ASHM.LN (Ashmore Group) -- neutral from buy at UBS

    • Initiations

      • AIXA.GR (Aixtron) -- neutral at JPMorgan

    • Other Actions

      • PHP.LN (Primary Health Properties) -- reinstated overweight at Barclays; prior rating was underweigh

  • Data

    • Nikkei (0.30%) to 47806.01

    • Hang Seng (0.85%) to 26729.91

    • Shanghai Composite +0.00% to 3882.78

    • S&P futures +4.8 vs prior close of 6761.5

    • €-$ (0.0045) or (0.39%) to 1.1615

    • $-¥ +0.49 or +0.32% to 152.39

    • €-¥ (0.08) or (0.05%) to 177.01

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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