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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE +0.44%, DAX +0.44%, CAC40 +1.57%

Oct 15 ,2025

  • Synopsis

    • European equity markets are set for a higher open amidst positive Asia equities Wednesday. Strength led by sharp gains in South Korea, Hong Kong and Japan. Mainland China mildly on the firmer side. US futures recovered some overnight declines in S&P and Nasdaq.

    • G20 finance and central bank deputies followed by finance ministers and central bank governors meetings (through Thu). United Kingdom and Germany convene the Ukraine Defence Contact Group. Meeting of NATO ministers of defence. In the UK, weekly PMQs at 12noon BST, whilst the sustainable aviation fuel bull continues its passage through parliament. Committee topics include UK's future relationship with the US at 14:00, AI in financial services at 14:15, the cost of energy at 15:00 (execs from Centrica (CNA.LN), E.ON (EOAN.GR), others).

    • In central banks, ECB's de Guindos opening address at 9:40CET at conf of the Single Resolution Mechanism, Buch panellist at 10:00. Also, Bank of Finland's Rehn in conversation at 15:45CET, Bank of France's Villeroy at 17:50, Riksbank's Thedéen at 21:30, ECB's Donnery panellist at 16:15CET 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 21:00 at 25th Annv. of Alantra.

    • Macro data due include, France, Sweden and Spain Sep final CPI, Eurozone Aug industrial production and Norway Sep trade balance

    • In earnings, yesterday after market close, LVMH Moet Hennessy Louis Vuitton (MC.FP) reported Q3 revenue €18.28B vs StreetAccount €18.14B. Still in France, Rexel (RXL.FP) is out with Q3 revenue €4.76B vs consensus €4.76B and Christian Dior (CDI.FP) reported Q3 revenue €18.28B, (4%) vs year-ago €19.08B. In the Benelux region, ASML Holding (ASML.NA) reported Q3 EPS €5.49 vs consensus €5.46 and guides Q4 and expects FY25 total net sales increase of ~15%. Elsewhere, Sulzer (SUN.SW) reported 9M order intake CHF2.78B vs year-ago CHF2.93B and reaffirmed FY guidance whilst Mowi (MOWI.NO) reported Q3 operational EBIT €112M vs FactSet €109.9M.

    • On the M&A front, Bouygues Telecom (EN.FP), Free-iliad Group and Orange (ORA.FP) submitted a joint non-binding offer to acquire a large part of Altice's activities in France, for EV of €17B for the Altice group assets concerned in France.

    • Also due to release updates today are Entain (ENT.LN), Rathbones Group (RAT.LN) and VINCI (DG.FP) (traffic).

    • CMD/events taking place for Oxford Biomedica (OXB.LN) and Gerresheimer (GXI.GR)

  • Politics/Macro/World News

    • Trump threatens trade penalties through tariffs on Spain for not meeting NATO defense spending increase - Reuters

    • IMF further upgrades 2025 global growth forecast, but tone remains bearish:

  • Top company news

    • Earnings/updates

      • Benelux:

        • NSI.NA (NSI) -- reports Q3 trading update; reports Q1-Q3 EPRA EPS €1.58 vs year-ago €1.51

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

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

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

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

      • France:

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

        • RXL.FP (Rexel) -- reports Q3 revenue €4.76B vs consensus €4.76B

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

        • GFC.FP (Gecina) -- reports Q3 total gross rental income €539.2M, +4% vs year-ago €518.5M

      • DACHs:

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

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

        • HTG.GR (HomeToGo) -- issues updated FY/25 guidance following Interhome closing

        • CICN.SW (Cicor Technologies) -- reports 9M revenue CHF440.8M, +25% vs year-ago CHF351.7M

      • Nordics:

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

    • M&A

      • UBXN.SW (u-blox) -- Zenith 's total participation in u-blox now amounts to 5.2M shares, corresponding to 67.55% of issued share capital and voting rights of u-blox; accordingly, Zenith declares offer to be successful

      • ENG.SM (Enagas) -- in talks to acquire GIC's 32% stake in Terega - Reuters

      • ULVR.LN (Unilever) -- announces sale of Kate Somerville to Rare Beauty Brands

      • 1COV.GR (Covestro) -- ADNOC set to secure EU approval for Covestro bid - Reuters

      • AGI.AU (Ainsworth Game Technology) -- board continues to recommend holders accept offer from Novomatic - Supplementary Target's statement

      • FEN.LN (Frenkel Topping Group) -- Irwell Bidco (Harwood) issues update regarding the LOI from Downing LLP related to Frenkel Topping takeover

      • Bouygues Telecom, Free-iliad Group and Orange submit a joint non-binding offer to acquire a large part of Altice's activities in France, for EV of €17B for the Altice group assets concerned in France

    • Healthcare

      • EGTX.SS (Egetis Therapeutics) -- Rare Thyroid signs exclusive distribution and early access agreement with Taiba to supply Emcitate (tiratricol) for the treatment of MCT8 deficiency in various Middle East countries

      • IVA.FP (Inventiva) -- announces new $100M ATM program

    • Other

      • VIS.SM (Viscofan) -- provides additional information regarding the recent allegations made by Hunterbrook

      • ALCAR.FP (CARMAT) -- provides an update on the ongoing receivership procedure

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

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- awarded streamer acquisition contract in Africa; acquisition is scheduled to commence in Q4 and contract has a duration of 50 day

      • SZG.GR (Salzgitter) -- launches €500M offering of bonds exchangeable for shares of Aurubis AG

      • AMG.NA (AMG Critical Materials) -- and Beijing Easpring sign a MoU to jointly strengthen the battery materials value chain in Europe

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

      • RWE.GR (RWE) -- ceases development of two-gigawatt Kent Offshore Wind Project in Australia - Australian Financial Review, citing statement from company

      • Boeing Spirit Aerosystems acquisition gets EU approval; Roku faces Florida lawsuit over child data in intraday themes (14-Oct)

  • Key rating changes

    • Upgrades

      • JB Capital Markets upgrades LDA.SM; downgrades MAP.SM

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

    • Downgrades

      • Rothschild & Co Redburn downgrades ENR.GR, GEV

      • BMW.GR (Bayerische Motoren Werke) -- to hold from buy at Jefferies

      • GXI.GR (Gerresheimer) -- to equal weight from overweight at Barclays

      • ANTO.LN (Antofagasta) -- to sell from hold at Peel Hunt

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

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

    • Initiations

      • AMV0.GR (Aumovio) -- underperform at Jefferies

      • CARL.A.DC (Carlsberg) -- outperform at Oddo

      • LGEN.LN (Legal & General Group) -- add at Peel Hunt

  • Data

    • Nikkei +1.77% to 47675.95

    • Hang Seng +1.50% to 25823.19

    • Shanghai Composite +0.61% to 3888.94

    • S&P futures +25.8 vs prior close of 6686.5

    • €-$ +0.0015 or +0.13% to 1.1623

    • $-¥ (0.61) or (0.40%) to 151.23

    • €-¥ (0.49) or (0.28%) to 175.75

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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