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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE (0.25%), DAX (0.09%), CAC40 (0.07%)

Oct 10 ,2025

  • Synopsis

    • European indices are set to open lower as Asian equities trade mostly lower today. China markets lagging amid selling pressure in tech/semi space (CSI All-share semi index down 5%).

    • US equities finished lower in Thursday trading, though ended off worst levels. S&P, Nasdaq still on track for weekly gains. Laggards included retail/apparel, homebuilders, auto suppliers, multis, building products, trucking, &D, E&Cs, payments, asset managers, P&C insurers, managed care, chemicals, China tech, and media.

    • Attention in Europe on French political developments after President Macron said he will name a new prime minister by Friday evening. Outgoing premier Lecornu said sufficient progress had been made to allow work to begin on forming a new cabinet. However, path forward remains uncertain with parliament deeply divided.

    • Friday sees, in central banks, Bank of Spain's Escrivá participates at 9:40CET in the Brokerslink Global Conf and Poland central bank releases minutes of last MPC meeting.ECOFIN meeting, ECB's de Guindos among the participants. Deadline for British government (and where appropriate Fujitsu, and the Post Office) to provide written response to the recommendations in the final report of the Horizon investigation.

    • Economic data due: Italy Aug industrial production, Switzerland Sep consumer confidence - SECO, Sweden Aug industrial production, Norway Sep CPI, Denmark Sep CPI, Netherlands Aug manufacturing production, Portugal Sep final CPI

    • In Earnings: (KCC.NO) Klaveness Combination Carriers Q3 Business Update; preliminary fleet average TCE earnings for the quarter ended at $28,921/day vs guidance range $27,500-29,000/day. Vår Energi (VAR.NO) reports Q3 net production 370 kboepd vs year-ago 256 kboepd; guides Q4. Tryg (TRYG.DC) Tryg reports Q3 net income DKK1.48B vs consensus DKK1.41B; comments on FY25 and FY27 outlook. Atrium Ljungberg (ATRLJ.B.SS) Atrium Ljungberg reports H1 EPS SEK1.33 vs year-ago SEK0.97

    • Trading Update expected:

      • DACHs: Porsche (P911.GR)

      • UK: Hays (HAS.LN)

      • Volkswagen Group (VOW.GR), DFDS (DFDS.DC)

  • Politics/Macro/World News

    • UK employers curb hiring and pay rises before budget, recruiters say (Reuters )

    • French Economy Is Weathering Political Crisis, Central Bank Says (BBG )

  • Top company news

    • Earnings/updates

      • VAR.NO (Vår Energi) -- reports Q3 net production 370 kboepd vs year-ago 256 kboepd; guides Q4

      • SOFF.NO (Solstad Offshore) -- guides FY adjusted EBITDA ~$115M vs prior guidance $120-150M and FactSet $132.9M [4 est, $127.6-142M]

    • M&A

      • FCC.SM (Fomento de Construcciones y Contratas) -- agrees to sell 25% stake in subsidiary FCC Enviro to CPP Investments for €1B

      • PSAN.GR (PSI Software) -- Follow-up: PSI Software trades higher on Reuters report the company is close to being taken over

      • WNS (WNS (Holdings)) -- WNS acquisition by Capgemini sanctioned by Royal Court of Jersey

      • IG.IM (Italgas) -- announces start of awarding of gas distribution activities in accordance with the 2i Rete Gas acquisition AGCM resolution

      • IG.IM (Italgas) -- started the awarding process of divested assets in 2iRete Gas acquisition for an overall price of €253.1M

      • BBN.SW (Bellevue Group) -- sells adbodmer AG; terms not disclosed

      • PSAN.GR (PSI Software) -- SE confirms discussions regarding a potential takeover offer

      • Coinbase and Mastercard in advanced talks to acquire stablecoin startup BVNK for around $2B - Fortune

    • Healthcare

      • AZN.LN (AstraZeneca) -- plans to increase investment and scope of its Virginia manufacturing facility to $4.5B

      • SN.LN (Smith & Nephew) -- Smith+Nephew announces new category I CPT code for its CARTIHEAL AGILI-C cartilage repair implant

      • COLO.B.DC (Coloplast) -- interim CEO Lars Rasmussen will not stand for re-election

      • DEMANT.DC (Demant) -- Chair Niels Christiansen will not stand for re-election

      • IDIA.SW (Idorsia) -- launches offering of ~15M newly issued shares

      • IDIA.SW (Idorsia) -- raised CHF 65.6M through placement of 16.4M registered shares at a placement price of CHF 4.00/share

      • OXUR.BB (Oxurion) -- the completion of the new financing aimed at investing in digital assets (Bitcoin and Ethereum), originally scheduled to close on 25-Sep-25, is still in progress.

      • BIO3.GR (Biotest) -- Biotest's launches Yimmugo to treat primary immunodeficiencies, in the United States.

      • BIO3.GR (Biotest) -- Biotest's Yimmugo launches in the U.S.

    • Other

      • SAP.GR (SAP) -- Transcript Intelligence: SAP at SAP Connect Virtual

      • SW.FP (Sodexo) -- Transcript Intelligence: Sodexo Executive Update Call

      • GTT.FP (Gaztransport & Technigaz) -- receives order from Hanwha Ocean for the design of the tanks of a new LNG carrier

      • HAVAS.NA (Havas NV) -- Havas N.V. Announces a Reverse 10 to 1 Share Split

      • VANTI.FP (Vantiva) -- carbon emission targets validated by SBTi including 2040 net zero goal

      • Allianz, AIG and Coface among groups preparing for wave of insurance claims relating to First Brands' bankruptcy - FT

      • DoJ reportedly makes inquiry into First Brands Group - FT

      • Venture Global shares trading lower following International Court of Arbitration ruling finding VG subsidiary breached its obligation vs BP - 8-K

  • Key rating changes

    • Downgrades

      • HSBA.LN (HSBC Holdings) -- to hold from buy at Jefferies

      • AV.LN (Aviva) -- to underperform from market perform at Keefe, Bruyette & Woods

      • CWR.LN (Ceres Power Holdings) -- to hold from buy at Peel Hunt

      • AZE.BB Azelis Group downgraded to neutral from buy at UBS

      • BNR.GR (Brenntag) downgraded to sell from neutral at UBS

    • Initiations

      • EVO.SS (Evolution) -- sell at UBS

      • KLR.LN (Keller Group) -- sector perform at RBC Capital Markets

      • FTK.GR (flatexDEGIRO) initiated buy at UBS

  • Data

    • Nikkei (1.07%) to 48063.05

    • Hang Seng (1.35%) to 26390.97

    • Shanghai Composite (0.69%) to 3906.70

    • S&P futures +7.0 vs prior close of 6779.3

    • €-$ +0.0011 or +0.10% to 1.1577

    • $-¥ (0.30) or (0.20%) to 152.77

    • €-¥ (0.15) or (0.08%) to 176.88

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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