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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.16% to 9442.87, DAX +0.60% to 24387.93, CAC40 +0.21% to 7934.26, STOXX 600 +0.44% to 566.63

Oct 13 ,2025

  • Synopsis:

    • European equity markets closed mostly higher, following sharp selloff on Friday amid US-China trade tensions, which saw Stoxx Europe 600 down on the week. Monday's upside tabbed to potential easing of trade tensions between the US and China. Recall on Friday Trump announced additional 100% tariffs on China following series of trade actions by Beijing involving rare earths export curbs, probe into QCOM, tightened customs checks of NVDA chips and port fees on US ships. Both sides criticized the other but voiced openness to negotiations. Trump also signaled that he chose 1-Nov for 100% tariff implementation date to allow space for talks, and he did not rule out meeting Xi at APEC summit.

    • The pullback in equity markets on Friday follows series of all-time highs for US and European markets. Similar moves in Asia. Some thoughts markets primed for correction amid recent discussions related to market froth, AI profitability concerns and stretched valuations. However, selloff invited more 'buy-the-tip' narrative amid view US and China will reach another détente. Bulls point to still-positive fundamentals underpinned by favorable valuations and upcoming policy support in Europe and more broadly tech sector AI traction.

    • In Europe, French President Macron reappointed Lecornu as prime minister late Friday just days after his previous government collapsed after opposition to his cabinet picks. Lecornu has brought in a few new faces, though reinstated some center-right ministers from earlier in the week. Center-right Republicans said they would support the government without taking part, while Socialist leader Faure said mostly like scenario was government would fail. New administration set to face confidence vote later this week. Elsewhere, UK press reported Reeves looking to tax wealthier individuals to build a larger fiscal buffer in November budget.

    • Quiet macro calendar in Europe, with only German wholesale prices released, with data showing prices rose 1.2% y/y. Deloitte survey showed UK CFOs worried over competitiveness and productivity with focus on cost control.

    • In M&A news, Allwyn International and OPAP (OPAP.GA) agreed to combine, with the transaction valuing the resulting entity at an equity value of €16B; in another deal, Warburg Pincus made a voluntary public takeover offer for PSI Software (PSAN.GR) at €45/sh in cash; also, Theon International took a 9.8% stake in Exosens (EXENS.FP) for €268.7M in cash and Legal & General Group (LGEN.LN) is reportedly among other suitors to have expressed interest in acquiring Cushon from NatWest (NWG.LN).

    • Elsewhere, Lloyds Banking Group (LLOY.LN) will take an additional charge of £800M in connection with motor finance, AstraZeneca (AZN.LN) announced an agreement with the US Govt to lower medicine prices and Wallenius Wilhelmsen (WAWI.NO) suspended its previously reported FY25 outlook due to increased US port fees; in Spain, local press reported that Laboratorios Farmaceuticos Rovi (ROVI.SM) will produce Novo Nordisk's pharmaceuticals starting in 2026.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 13-Oct to 17-Oct attached) TomTom (TOM2.NA), Telekom Austria (TKA.AV), ABOUT YOU Holding (YOU.GR), EuroTeleSites (7YF.GR), Schaeffler (SHA0.GR), Givaudan (GIVN.SW), Bossard Holding (BOSN.SW), Telefonaktiebolaget LM Ericsson (ERIC.B.SS), TF Bank (TFBANK.SS), (BWY.LN), Bytes Technology Group (BYIT.LN), YouGov (YOU.LN), LVMH Moet Hennessy Louis Vuitton (MC.FP), Publicis Groupe (PUB.FP), BP (BP.LN), Ninety One (N91.LN), and Ashmore Group (ASHM.LN) will be amongst other names to update investors, whilst the macro-calendar releases will include Germany Oct ZEW survey, Sep final CPI, UK Sep claimant count change, Aug unemployment rate, Sep retail sales monitor - BRC, Switzerland Sep PPI, Finland Sep CPI.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +2.97%, Technology +1.75%, Real Estate +1.63%, Travel & Leisure +0.85%, Construct & Mtls +0.80%, Media +0.79%, Retail +0.79%, Financial Svcs +0.74%,

      • Underperformers:

        • Telecom (0.84%), Autos & Parts (0.80%), Food, Beverage and Tobacco (0.23%), Insurance (0.11%), Consumer Products and Services (0.02%), Health Care +0.12%, Utilities +0.18%, Ind Goods & Svcs +0.29%, Banks +0.33%, Personal Care Drug and Grocery Stores +0.34%, Energy+0.36%,

    • Macro/Peripheral markets:

      • Geopolitics

        • All living Israeli hostages freed as Trump heads to Egypt for summit - The Guardian

        • Russia's Medvedev says supplying US Tomahawks to Ukraine could end badly for all, especially Trump - Reuters

      • Central Banks

        • BOE's Greene Suggests Holding Rates Into 2026 on Price Concerns - Bloomberg

      • EU

        • EU's Von der Leyen says private sector deals could unlock 4 billion euros for Western Balkans - Reuters

        • Flagship green steel start-up in funding crisis as Europe's low-carbon ambitions falter - FT

      • UK

        • First German state visit to UK for 27 years announced - BBC

        • UK planning to be speeded up with new powers for ministers - FT

        • Farage to drop Reform's £90bn tax cut pledge - The Telegraph

      • France

        • Macron blames chaos on 'political forces' that destabilized French PM - Politico

      • Germany

        • Klingbeil examines new exemption for defense spending - Handelsblatt

        • German Power Prices at 8-Month High on Low Wind, Surging Fossil Fuels - Bloomberg

      • Portugal

        • Portugal's far-right underwhelms in local elections, wins three mayorships - Reuters

    • Company news:

      • Trading Higher:

        • +35.2% PSAN.GR (PSI Software €44.90, +11.70) -- Warburg Pincus makes voluntary public takeover offer for PSI Software at cash offer price of €45/share

        • +20.3% MEDCL.FP (MedinCell €32.84, +5.56) -- FDA approves expanded indication for UZEDY extended-release injectable suspension as treatment for adults living with bipolar I disorder

        • +18.1% SOLG.LN (SolGold £0.18, +0.03) -- additional robust drilling results at Tandayama América

        • +17.9% INT.SS (Intellego Technologies SEK90.50, +14.00) -- responds to recent media speculation and misinformation

        • +13.2% SMHN.GR (SÜSS MicroTec €37.40, +4.38) -- Oddo upgrade

        • +11.5% IPO.LN (IP Group £0.60, +0.06) -- update on potential future royalty income from Metsera obesity drug candidates

        • +10.9% EXENS.FP (Exosens €48.15, +4.75) -- Theon International (THEON.NA) to take 9.8% stake in Exosens for €54.0/share, or €268.7M total in cash

        • +10.4% DR0.GR (Deutsche Rohstoff €51.90, +5.05) -- subsidiary Salt Creek Oil & Gas expands non-operated Powder River Basin investment

        • +9.9% CRTA.LN (Cirata £0.20, +0.02) -- contract

        • +8.8% ONWD.BB (Onward Medical €5.48, +0.44) -- prelim Q3 update

        • +8.5% ATORX.SS (Alligator Bioscience SEK4.47, +0.36) -- to present REACtiVe-2 Phase 1 data featuring mitazalimab

        • +8.0% COST.LN (Costain Group £1.53, +0.11) -- up to £1B programme with Sellafield

        • +5.9% ALBPS.FP (Biophytis €0.15, +0.01) -- to form JV to develop and exclusively commercialize BIO101 in China, Japan, and Korea

        • +5.3% KOA.NO (Kongsberg Automotive NOK1.66, +0.08) -- initiated buy at Arctic Securities

        • +4.9% SQZ.LN (Serica Energy £1.89, +0.09) -- to acquire the entirety of BP's stake in the P111 and P2544 licences

        • +4.6% ALBFR.FP (Sidetrade €246.00, +11.00) -- to acquire 100% of ezyCollect

        • +3.9% NAS.NO (Norwegian Air Shuttle NOK16.35, +0.62) -- Barclays upgrade

        • +3.7% HAVAS.NA (Havas NV €1.47, +0.05) -- Kepler Cheuvreux upgrade

        • +3.5% ABVX.FP (Abivax €81.90, +2.80) -- initiated overweight at Barclays

        • +3.5% ATRAV.FH (Atria €13.60, +0.45) -- raises FY25 EBIT guidance

        • +3.4% NDA.GR (Aurubis €118.50, +3.90) -- UBS upgrade

        • +3.4% BBOX.LN (Tritax Big Box REIT £1.45, +0.05) -- to acquire a portfolio of logistics assets valued at £1.04B

        • +3.3% NXR.LN (Norcros £2.80, +0.09) -- completes of acquisition of Fibo Holding AS

        • +3.1% SFT.LN (Software Circle £0.23, +0.01) -- acquires Broker Information Services for total consideration €8.25M cash

        • +3.0% KNOS.LN (Kainos Group £9.86, +0.29) -- initiated add at Peel Hunt

        • +3.0% DOM.SS (Dometic Group SEK49.60, +1.42) -- Dagens Industri out with buy recommendation

        • +2.9% ROVI.SM (Laboratorios Farmaceuticos Rovi, S.A. €58.45, +1.65) -- Laboratorios Farmaceuticos Rovi, S.A. to produce Novo Nordisk's pharmaceuticals starting in 2026 - El Economista

        • +2.8% TNG.FP (Transgene €1.29, +0.03) -- data presentation

      • Trading Lower:

        • -8.9% NEX.FP (Nexans €115.20, -11.20) -- new CEO

        • -7.3% OXIG.LN (Oxford Instruments £18.26, -1.44) -- trading update; revenues expected to be down around 8% OCC versus prior year

        • -7.0% WAC.GR (Wacker Neuson €19.60, -1.45) -- Warburg Research downgrade

        • -5.5% CEM.IM (Cementir Holding €15.22, -0.88) -- initiated outperform at BNP Paribas Exane

        • -4.5% ENVI.NA (Envipco Holding €6.00, -0.28) -- Sparebank 1 Markets downgrade

        • -4.2% WAWI.NO (Wallenius Wilhelmsen NOK79.40, -3.50) -- suspends previously reported FY25 outlook due to increased US port fees

        • -4.2% TECN.SW (Tecan Group CHF141.40, -6.30) -- Q3 sales

        • -3.9% CHG.GR (CHAPTERS Group €37.00, -1.50) -- H1 earnings

        • -3.7% SPA.LN (1Spatial £0.53, -0.02) -- H1 earnings

        • -3.2% NOD.NO (Nordic Semiconductor NOK159.80, -5.20) -- resumed buy at Danske Bank

        • -2.0% THEON.NA (Theon International €33.60, -0.70) -- to take 9.8% stake in Exosens for €54.0/share, or €268.7M total in cash

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: TomTom (TOM2.NA)

        • DACHs: Telekom Austria (TKA.AV), ABOUT YOU Holding (YOU.GR), EuroTeleSites (7YF.GR)

        • Nordics: Telefonaktiebolaget LM Ericsson (ERIC.B.SS), TF Bank (TFBANK.SS)

        • UK: Bellway (BWY.LN), Bytes Technology Group (BYIT.LN), YouGov (YOU.LN)

      • Trading Update:

        • Benelux: Havas (HAVAS.NA)

        • DACHs: Schaeffler (SHA0.GR), Givaudan (GIVN.SW), Bossard Holding (BOSN.SW)

        • France: LVMH Moet Hennessy Louis Vuitton (MC.FP), Publicis Groupe (PUB.FP), Gecina (GFC.FP), Sidetrade (ALBFR.FP), Ekinops (EKI.FP)

        • UK: BP (BP.LN), Ninety One (N91.LN), Ashmore Group (ASHM.LN), Reach (RCH.LN), Robert Walters (RWA.LN)

      • Traffic: Fraport AG Frankfurt Airport Services Worldwide (FRA.GR), Flughafen Wien (FLU.AV)

  • Data:

    • Economics:

      • No major releases.

    • Markets:

      • WTI Crude (Nov 25): +$0.70 or +1.19% to $59.60

      • €-$ (0.0042) or (0.36%) to 1.1572

      • £-$ (0.0006) or (0.04%) to 1.3334

      • €-£ (0.0026) to 0.8678

      • S&P 500 +1.52%

      • Performance year-to-date

        • FTSE 100: +15.54%

        • DAX: +22.50%

        • CAC: +7.50%

        • MIB: +23.17%

        • Stoxx 600: +11.62%

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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