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StreetAccount Summary - EU Market Recap: FTSE 100 (0.30%) to 9424.75, DAX (0.23%) to 24181.37, CAC40 +1.99% to 8077.00, STOXX 600 +0.57% to 567.77

Oct 15 ,2025

  • Synopsis:

    • European equity markets opened mixed, with France outperforms on budget hopes and UK lagging. Pan-European indices opened higher, and after modestly extending gains, became range-bound over the remainder of the session

    • Italy (0.4%) joined the FTSE100 in leading underperformers, being amongst the handful of country benchmarks that ended lower on the day.

    • Outlier on the upside is the CAC, and along with Switzerland +0.8%, Norway +0.7% and Netherlands +0.6%, led outperformers

    • Sentiment aided by US Fed Powell's comments yesterday, positive reaction to France PM Lecornu's willingness to suspend pension reform to secure support for his administration and hopes for US/China trade, as Trump still set to meet Xi at the South Korea APEC summit.

    • ECB's de Guindos delivered the opening address at conf of the Single Resolution Mechanism, Buch was a panellist at the event.

    • Bank of Finland's Rehn was in conversation, Bank of France's Villeroy in conversation at 17:50CET, Riksbank's Thedéen at 21:30, ECB's Donnery panellist at 16:15CET, all at IIF Annual Membership Meeting, BOE's Breenden also panellist at 16:45BST, as well as at 19:00BST at the Fintech Foundation 2025 DC Fintech Week (through Thu).

    • ECB's de Guindos remarks at 21:00CET at 25th Annv. of Alantra.

    • G20 finance and central bank deputies due to meet followed by finance ministers and central bank governors meetings (through Thu).

    • Meeting of NATO ministers of defence. United Kingdom and Germany convene the Ukraine Defence Contact Group. Events follow UK government's announcement that more than 85,000 military drones have been delivered by the UK to Ukraine

    • In the UK, weekly PMQs was dominated entirely by the collapse of the Westminster China spying trial, whilst the sustainable aviation fuel bull continues its passage through parliament. Committee topics include UK's future relationship with the US, AI in financial services and the cost of energy (execs from Centrica (CNA.LN), E.ON (EOAN.GR), others).

    • Economic data included Eurozone Aug industrial production continuing to show volatility.

    • Among company shares responding to earning/updates were LVMH Moet Hennessy Louis Vuitton (MC.FP), Christian Dior (CDI.FP), Rexel (RXL.FP) Q3 revenue €4.76B vs consensus €4.76B, outlook confirmed, ASML Holding (ASML.NA), Havas (HAVAS.NA), British Land Co. (BLND.LN), Entain (ENT.LN), PageGroup (PAGE.LN), Sulzer (SUN.SW) and Cicor Technologies (CICN.SW) 9M revenue CHF440.8M, +25% y/y, book-to-bill rate 1.09.

    • M&A news flow included, Altice France rejecting €17B takeover offer submitted by Bouygues (EN.FP), Orange (ORA.FP) and Free, Partners Group (PGHN.SW) agrees to acquire US-based Life Cycle Power from an investment partnership controlled by Arroyo Investors and Zenith declares offer for u-blox (UXBN.SW) to be successful. Reportedly, Generali (G.IM) eyeing Portugal's GamaLife assets and ADNOC set to secure EU approval for Covestro (1COV.GR) bid

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Persnl & HHold Goods +3.80%, Media +2.13%, Technology +1.63%, Food & Beverage +1.17%, Chemicals +1.15%, Autos & Parts +1.11%, Retail +1.05%, Basic Resources +0.91%, Oil & Gas +0.81%, Telecom +0.64%, Construct & Mtls +0.61%

      • Underperformers:

        • Travel & Leisure (0.71%), Insurance (0.62%), Financial Svcs (0.28%), Banks (0.24%), Ind Goods & Svcs (0.07%), Health Care +0.13%, Real Estate +0.31%, Utilities +0.56%

    • Macro/Peripheral markets:

      • France:

        • PM Lecornu says government will propose to "entrust the management" of the pension system to the social partners and expects proposals "by the spring" - Le Figaro

      • Germany:

        • Chancellor Merz will push for deregulation in Europe's banking sector - Reuters

      • Norway:

        • Presents National Budget for 2026 - release

      • UK:

        • PM Starmer failed to put a lid on the China spy story at PMQs - The Spectator

        • Chancellor Reeves hints at tax rises in Autumn Budget in interview - Sky News

        • Reform UK set for biggest ever majority opinion poll shows - The Sun, Electoral Calculus

    • Company news:

      • Notable Gainers

        • +26.5% AOM.LN (Activeops) -- H1 Trading Update: revenue £20.8M vs year-ago £14.3M; expects to deliver H1 double digit adjusted EBITDA growth and increase in profit before tax

        • +15.9% OMG.LN (Oxford Metrics) -- FY Trading Update: expects Adjusted EBIT in line with market expectations

        • +12.2% MC.FP (LVMH Moet Hennessy Louis Vuitton) -- Q3 revenue €18.28B vs StreetAccount €18.14B

        • +12.0% CDI.FP (Christian Dior) -- Q3 revenue €18.28B, (4%) vs year-ago €19.08B

        • +11.2% WIHN.SW (WISeKey International Holding) -- to Test Post-Quantum Communication from Space During SpaceX Launch on 10-Nov

        • +9.5% EBUS.NA (Ebusco Holding) -- Q3 buses delivered 39 in line with Q2 deliveries

        • +7.8% ADOC.FP (Adocia) -- positive topline trial results

        • +7.4% EN.FP (Bouygues) -- Bouygues Telecom, Free-iliad Group and Orange submit a joint non-binding offer to acquire a large part of Altice's activities in France

          • +3.3% ORA.FP (Orange)

        • +6.0% AFC.LN (AFC Energy) -- CEO purchases 450K shares

        • +3.8% TGS.NO (TGS-NOPEC Geophysical Co.) -- contract

        • +3.7% TTE.FP (TotalEnergies) -- Q3 European refining margin indicator $/t 63.0 vs year-ago 15.4

        • +3.6% WPP.LN (WPP Group) -- extension of partnership with Google (GOOG)

        • +3.4% PAGE.LN (PageGroup) -- Q3 Gross profit £187.8M, (7%) vs year-ago £201.6M

        • +3.4% STLAM.IM (Stellantis) -- plans to invest $13B in the United States over next 4 years

        • +3.4% ASML.NA (ASML Holding) -- Q3 EPS €5.49 vs consensus €5.46; guides Q4 and expects FY25 total net sales increase of ~15%

        • +3.3% AMG.NA (AMG Critical Materials) -- MoU with Beijing Easpring (300073.CH)

        • +2.5% HAVAS.NA (Havas) -- Q3 revenue €681M vs FactSet €654.0M [1 est]; raises FY25 guidance, confirms medium-term targets for FY28

        • +2.5% ROVI.SM (Laboratorios Farmaceuticos Rovi, S.A.) -- to buy from neutral at Alantra Equities

        • +2.5% NIBE.B.SS (NIBE Industrier) -- to buy from hold at Pareto

        • +2.4% BLND.LN (British Land Co.) -- H1 Trading Update: underlying EPS 15.4p vs year-ago 15.3p

        • +1.8% MOWI.NO (Mowi) -- Q3 trading update: operational EBIT €112M vs FactSet €109.9M [11 est, €59-180M]

        • +1.6% ABG.NO (ABG Sundal Collier Holding) -- Q3 EPS NOK0.14 vs year-ago NOK0.09

        • +1.6% PETS.LN (Pets At Home Group) -- UK's CMA has provisionally found competition concerns in the veterinary services for household pets markets in the UK

          • -0.7% CVSG.LN (CVS Group)

        • +1.5% TKA.AV (Telekom Austria) -- Q3 net income €191M vs consensus €182M

          • On earnings/updates: DAB.DC (Danske Andelskassers Bank), RXL.FP (Rexel)

      • Notable Decliners

        • -33.3% EKI.FP (Ekinops)

          • 9M revenue €79.5M, (10%) vs year-ago €87.9M

          • announces departure of Chairman and CEO Didier Brédy

          • to sell from hold at Portzamparc

        • -12.1% SUY1V.FH (Suominen) -- prelim. Q3 revenue €99.8M vs FactSet €108.3M [3 est, €105.9-112M], lowers FY guidance

        • -10.6% STR.AV (STRABAG) -- holder Haselsteiner Familien-Privatstiftung offers ~2.5M shares -- wires

        • -10.2% VOS.GR (Vossloh) -- to neutral from outperform at Oddo

        • -8.8% R3NK.GR (Renk Group) -- to sell from neutral at Citi

        • -7.5% KMR.LN (Kenmare Resources) -- Q3 production report

        • -7.0% IVA.FP (Inventiva) -- files $300M mixed shelf - F-3

        • -6.2% SUN.SW (Sulzer) -- 9M order intake CHF2.78B vs year-ago CHF2.93B; reaffirms FY guidance

        • -6.1% NDA.GR (Aurubis) -- Salzgitter (SZG.GR) places €500M offering of bonds exchangeable for shares of Aurubis

          • -4.0% SZG.GR (Salzgitter)

        • -5.3% NEXI.IM (Nexi) -- to neutral from outperform at BNP Paribas Exane

        • -2.3% JUP.LN (Jupiter Fund Management) -- Q3 AuM £50.4B vs consensus £49.38B

        • -2.2% RAT.LN (Rathbones Group) -- Q3 trading update: total operating income £236.4M, +7.2% y/y

        • -2.1% ENT.LN (Entain) -- Trading Update: FY25 guidance reiterated; Q3 further evidences underlying momentum and quality of business

        • -2.1% BAR.BB (Barco) -- Q3 revenue €227.1M, +2% y/y; Reaffirms FY outlook for topline and EBITDA margin growth in 2025; approves new share buyback

        • -1.9% FME.GR (Fresenius Medical Care) -- to underperform from neutral at BofA

        • -1.8% ICG.LN (ICG) -- to underperform from neutral at BNP Paribas Exane

          • On earnings/updates: HTG.GR (HomeToGo), RNK.LN (Rank Group), CICN.SW (Cicor Technologies), GFC.FP (Gecina), NSI.NA (NSI)

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Sipef (SIP.BB)

        • DACHs: ABB Limited (ABBN.SW), Sartorius (SRT3.GR)

        • France: Sartorius Stedim Biotech (DIM.FP), Prodware (ALPRO.FP)

        • Nordics: Nordea Bank (NDA.SE.SS), EQT (EQT.SS), Industrivarden (INDU.A.SS), Kinnevik (KINV.B.SS), AQ Group (AQ.SS), OEM International (OEM.B.SS), Vitec Software Group (VIT.B.SS), Plejd (PLEJD.SS), NOTE (NOTE.SS), Carasent (CARA.SS), Entra (ENTRA.NO), ABG Sundal Collier Holding (ABG.NO)

        • UK: Whitbread (WTB.LN)

      • Trading Update:

        • Benelux: Nedap (NEDAP.NA), Sligro Food Group (SLIGR.NA), Fastned (FAST.NA)

        • DACHs: Nestle (NESN.SW), VAT Group (VACN.SW), Kuros Biosciences (KURN.SW), DocMorris (DOCM.SW)

        • France: EssilorLuxottica (EL.FP), Pernod Ricard (RI.FP), Virbac (VIRP.FP), Stef (STF.FP), Mercialys (MERY.FP), Maurel et Prom (MAU.FP), SRP Groupe (SRP.FP)

        • Nordics: Investor (INVE.B.SS)

        • UK: Croda International (CRDA.LN), Mondi (MNDI.LN), Atalaya Mining (ATYM.LN), XPS Pensions Group (XPS.LN), GB Group (GBG.LN), Sabre Insurance Group (SBRE.LN)

      • CMD/events: Merck KGaA (MEK.GR), Cellectis (ALCLS.FP), Infineon (IFX.GR) OktoberTech Silicon Valley, Biotalys (BTLS.BB) retail investor assn. Probus

  • Data:

    • Economics:

      • Eurozone Aug industrial production +1.1% y/y vs consensus (0.7%), prior revised +2.0% from +1.8%; (1.2%) m/m vs consensus (1.6%), prior revised +0.5% from +0.3%

      • France Sep CPI +1.2% y/y vs preliminary +1.2%; (1.0%) m/m vs preliminary (1.0%)

        • EU Harmonised +1.1% y/y vs preliminary +1.1%; (1.1%) m/m vs preliminary (1.1%)

      • Spain Sep CPI +3.0% y/y vs preliminary +2.9%; (0.3%) m/m vs preliminary (0.4%)

        • EU Harmonised +3.0% y/y vs preliminary +3.0%; +0.2% m/m vs preliminary +0.1%

      • Norway Sep trade balance NOK36.9B vs consensus NOK42.4B, prior revised NOK59.9B from NOK60.1B

      • Sweden Sep CPI +0.9% y/y vs preliminary +0.9%; 0.0% m/m vs preliminary 0.0%

    • Markets:

      • WTI Crude (Nov 25): ($0.26) or (0.44%) to $58.44

      • €-$ +0.0038 or +0.33% to 1.1646

      • £-$ +0.0077 or +0.58% to 1.3397

      • €-£ (0.0022) to 0.8692

      • S&P 500 +0.45%

      • Performance year-to-date:

        • FTSE 100: +15.32%

        • DAX: +21.46%

        • CAC: +9.43%

        • MIB: +22.58%

        • Stoxx 600: +11.85%

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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