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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE flat, DAX +0.5%, CAC +0.4%,IBEX (0.1%), MIB +0.6%

Oct 13 ,2025

  • Synopsis

    • European equity markets set to open broadly flat to higher after last week's fall. The Stoxx Europe 600 reached historic levels before retreating Friday on escalating US-China trade tensions. The index closed down (1.3%) on Friday, making a weekly loss of (1.1%).

    • Asian equities lower Monday. Risk-off move attributed to latest US-China trade dispute, driving losses on Chinese, Korea and Taiwan benchmarks. Risk sentiment has improved with S&P 500 futures up 1% following Friday's selloff. Gold hitting another record high along with silver. Gold (Dec 25): +$92.30 or +2.31% to $4092.70.

    • 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.

    • In French politics, France's President Emmanuel Macron unveiled a new government on Sunday. Reinstated Sébastien Lecornu's second cabinet in a week includes several members who served in previous governments. RN and LFI both say they will file a no-confidence motion in parliament, notes Le Monde.

    • The week ahead sees World Bank/IMF annual meetings, OPEC/IEA monthly reports, Germany Oct ZEW survey, UK Sep claimant count change as well as earnings/updates from ABB Limited (ABBN.SW), ASML Holding (ASML.NA), BP (BP.LN), Givaudan (GIVN.SW), Ericsson (ERIC.B.SS), LVMH Moet Hennessy Louis Vuitton (MC.FP), Nestle (NESN.SW), Volkswagen (VOW3.GR), Volvo (VOLV.B.SS) and Whitbread (WTB.LN).

    • On today's agenda, in central banks, ECB's Buch before EP committee at 15:00CET (livestream). BOE's Mann panellist at the National Association of Business Economists annual meeting 'Monetary policy divergence & currency wars' at 20:10BST. Elsewhere, Annual Meetings of the World Bank Group and the International Monetary Fund (through Sat). OPEC monthly report is due for release. Annual Session of the NATO Parliamentary Assembly and Informal meeting of the EU's trade ministers (through Tue) due to take place. Egyptian President al-Sisi hosts Chancellor Merz and will participate in the signing ceremony for peace in Gaza. Handelsblatt Summit Future IT (through Wed). Macro data releases include Belgium Aug industrial production.

    • Among stocks in focus: AstraZeneca confirms agreement with US on drug pricing; Warburg Pincus makes voluntary public takeover offer for PSI Software at cash offer price of €45/share; Legal & General among suitors to have expressed interest in acquiring Cushon from NatWest - Sky News; Evoke may shut 15% of William Hill doors - Sunday Times

  • Politics/Macro/World News

    • Trade

      • Trump, Vance Open Door to China Deal as Trade Spat Drags On (Bloomberg)

    • Geopolitics

      • Trump may speak with Putin about sending Tomahawks to Ukraine in effort to end war (POLITICO)

      • Handover of Israeli hostages begins in Gaza (BBC )

    • UK

      • Reeves looks at bigger tax rises and spending cuts to build up UK fiscal buffer (FT )

      • IFS warns Rachel Reeves against 'half-baked dash for revenue' (Guardian )

    • France

      • France appoints new government under PM Lecornu, but far-right and left-wing parties vow to bring it down (Le Monde )

      • French presidency unveils new cabinet as budget pressure intensifies (Reuters)

  • Top company news

    • Earnings/updates

      • TECN.SW (Tecan Group) -- Q3 sales rise MSD percentage in local currencies

      • AB.FP (AB Science) -- reports FY net income (€5.2M) vs year-ago (€4.4M)

      • Also reporting today

        • Earnings:

          • UK: Tristel (TSTL.LN), 1Spatial (SPA.LN)

        • Trading Update:

          • Southern Europe: Galp Energia (GALP.PL)

          • UK: Rio Tinto (RIO.LN) (after the close)

        • Traffic: Flughafen Zuerich (FHZN.SW), Aeroflot-Russian Airlines (AFLT.RU)

        • CMD/events: Volkswagen (VOW.GR) Q3 pre-close call, Xbrane Biopharma (XBRANE.SS) EGM vote on reverse share split

    • M&A

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

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

      • BX (Blackstone) -- near deal to sell £1B ($1.34B) of logistics assets to Tritax Big Box REIT - Sky News

      • NWG.LN (NatWest Group) -- Legal & General among suitors to have expressed interest in acquiring Cushon from NatWest - Sky News

      • AMG.NA (AMG Critical Materials) -- announces sale of Graphit Kropfmühl GmbH to Asbury Carbons

      • FSG.LN (Foresight Group Holdings) -- Foresight Group looking to sell its 29.1% stake in Flinders Port Holdings - Australian Financial Review

      • FSG.LN (Foresight Group Holdings) -- TPG Capital set to acquire Kinetic Group - Australian Financial Review

      • BST.IM (Banca Sistema) -- EU clears Banca CF+'s acquisition of Banca Sistema (10-Oct)

      • PERR.FP (G+¬rard Perrier Industrie) -- Gérard Perrier Industrie acquires 80% stake in N-CyP1; terms undisclosed

      • ALBFR.FP (Sidetrade) -- offers to buy ezyCollect - Australian Financial Review

    • Healthcare

      • AZN.LN (AstraZeneca) -- confirms agreement with US on drug pricing

      • TEVA (Teva Pharmaceutical) -- announces FDA approves expanded indication for UZEDY extended-release injectable suspension as treatment for adults living with bipolar I disorder

      • NOVO.B.DC (Novo Nordisk) -- cuts cell therapy unit that had been working on cure for type 1 diabetes -- Bloomberg

      • ROG.SW (Roche Holding) -- Roche to present data at ESMO 2025 showcasing advances in science and cancer care across multiple tumour types

      • UCB.BB (UCB) -- announces results highlighting a 95% reduction in risk of death with pyrimidine nucleos(t)ide therapy in patients with thymidine kinase 2 deficiency (TK2d) published in Neurology

    • Other

      • EVOK.LN (Evoke Plc) -- Evoke may shut 15% of William Hill doors - Sunday Times

      • HOLM.B.SS (Holmen) -- announces win in tax case

      • Embraer expects growing demand for commercial aircraft to allow rivals to take market share from Boeing and Airbus - FT, citing CEO

      • Estimated weekend box office revenues in US, Canada $69.4M, (5.1%) y/y - Box Office Mojo

      • Spirit Airlines receives court approval for $475M DiP financing, key agreement with its largest aircraft lessor

      • Tomago aluminium smelter struggling to come up with plan for affordable power that would prevent its closure at end of 2028 - Australian Financial Review (10-Oct, 14:59 CET/23:59 AEDT)

  • Key rating changes

    • Upgrades

      • LR.FP (Legrand) -- to buy from underperform at Jefferies

      • MNG.LN (M&G) -- to buy from hold at Berenberg

      • MYCR.SS (Mycronic) -- to buy from hold at ABG Sundal Collier

      • AI.FP (Air Liquide) -- to outperform from neutral at Santander

      • DNB.NO (DNB Bank) -- to buy from neutral at Sparebank 1 Markets

      • KESKOB.FH (Kesko) -- to buy from hold at DNB Carnegie

      • GSF.NO (Grieg Seafood) -- to buy from hold at Pareto

      • SMHN.GR (SÜSS MicroTec) -- to outperform from neutral at Oddo

      • NAS.NO (Norwegian Air Shuttle) -- to overweight from equal weight at Barclays

    • Downgrades

      • STMN.SW (Straumann Holding) -- to neutral from buy at Goldman Sachs

      • GIMB.BB (Gimv) -- to hold from buy at Degroof

      • TUB.BB (Financiere de Tubize) -- to hold from buy at Degroof

      • LSG.NO (Lerøy Seafood Group) -- to hold from buy at Pareto

    • Initiations/other

      • RXL.FP (Rexel) -- hold at Jefferies

      • CVC.NA (CVC Capital Partners) -- buy at Degroof

      • KOA.NO (Kongsberg Automotive) -- buy at Arctic Securities

      • CEM.IM (Cementir) -- outperform at BNP Paribas Exane

      • KNOS.LN (Kainos Group) -- add at Peel Hunt

      • ERIC.B.SS (Telefonaktiebolaget LM Ericsson) -- reinstated hold at Jefferies

      • AV.LN (Aviva) -- resumed outperform at RBC Capital Markets

  • Data

    • Nikkei +0.00% to 48088.80

    • Hang Seng (2.53%) to 25625.28

    • Shanghai Composite (0.48%) to 3878.30

    • S&P futures +85.8 vs prior close of 6595.3

    • €-$ +0.0001 or +0.01% to 1.1615

    • $-¥ (0.02) or (0.01%) to 151.87

    • €-¥ +0.01 or +0.01% to 176.38

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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