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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.12% to 9436.09, DAX +0.38% to 24272.19, CAC40 +1.38% to 8188.59, STOXX 600 +0.69% to 571.66

Oct 16 ,2025

  • Synopsis:

    • European equity markets closed higher and near the session's best levels. Food/beverage, chemicals and autos were the best performing sectors; insurance, financial services and travel/leisure the main laggards. France CAC outperforms on political developments. Follows mixed performance on Wednesday.

    • French PM Lecornu narrowly survived no-confidence votes after announcing suspension of controversial pension reform law, a hallmark of President Macron's pro-business agenda.

    • Italy's government approved 2026 Draft Budgetary Plan, targeting budget deficit of 2.8% of GDP, down from 3.0% in 2025-already undershooting previous 3.3% target (FT, Reuters). PM Meloni's administration aims to reduce income tax rates from 35% to 33% for middle-income earners (€28,000-€50,000), costing €9B over three years.

    • On the macro data front, UK monthly activity data for August showed modest expansion in output. Monthly GDP increased 0.1% as expected versus prior 0.1% contraction revised down from 0% initially reported. Production grew by 0.4% in August 2025, whereas services showed no growth and construction fell by 0.3%. On a three-month basis, output up 0.3% versus prior 0.2%, with services growing 0.4%, production down 0.3% and construction up 0.3%. Meanwhile, latest trade data showed total goods and services deficit widened by £1.7B to £5.2B in the three months to August 2025 after exports fell by more than imports. Total export of goods fell 3.3% due to a 5.3% drop in exports to the EU, while non-EU exports down 1.5%.

    • Latest quarterly BoE credit condition survey highlighted ongoing caution among households and businesses. Appetite to borrow by households limited in Q3 with demand for secured credit for house purchases unchanged and no change anticipated in Q4, while overall demand for unsecured borrowing to remain flat into year end. Borrowing by small and large firms slightly firmer in Q3, while activity from medium sized businesses unchanged. Demand for corporate lending expected to pick up in Q4.

    • A busy session for earnings include from the DACHs region, ABB Limited (ABBN.SW) reports Q3 EPS $0.66 vs consensus $0.63 whilst Nestle (NESN.SW) reports 9M revenue CHF65.87B vs consensus CHF65.77B with FY organic sales growth is expected to improve compared to 2024. Merck (MRK.GR) released a CMD update saying it targets mid-term annual organic sales growth in the mid-single-digit percentage range and confirms 2025 guidance whilst Sartorius (SRT3.GR) reports 9M EPS €3.52 vs year-ago €3.01 and now expects FY Sales revenue growth of around +7% vs prior guidance around +6%. In France, Pernod Ricard (RI.FP) reports Q1 revenue €2.38B vs consensus €2.35B and continues to expect improving trends in FY26 organic net sales, skewed toward H2. VINCI (DG.FP) reports September airport passenger traffic +3.6% y/y and Sartorius Stedim Biotech (DIM.FP) whilst reports 9M EPS €2.24 vs year-ago €1.34 and raises FY guidance. In the Nordics, Nordea Bank (NDA.SE.SS) reports Q3 EPS €0.36 vs FactSet €0.33. CMD/events include Merck KGaA (MRK.GR), Cellectis (ALCLS.FP), Infineon (IFX.GR) OktoberTech Silicon Valley, Biotalys (BTLS.BB).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Food & Beverage +4.15%, Chemicals +1.76%, Autos & Parts +1.52%, Ind Goods & Svcs +1.17%, Utilities +1.05%, Real Estate +0.90%, Persnl & HHold Goods +0.83%, Construct & Mtls +0.82%, Retail +0.74%

      • Underperformers:

        • Insurance (1.39%), Financial Svcs (0.61%), Travel & Leisure (0.23%), Oil & Gas (0.15%), Media (0.14%), Basic Resources (0.07%), Technology +0.23%, Telecom +0.45%, Banks +0.53%, Health Care +0.67%

    • Macro:

      • Geopolitics

        • Oil rises 1% after Trump says India promised to stop buying from Russia - Reuters

        • US downplays threat to Gaza ceasefire as Hamas says more time needed to find hostage bodies - BBC

      • Central Banks

        • ECB should only cut rates further if new shocks hit, Dolenc says - Reuters

      • EU

        • EU makes fresh push for global carbon pricing ahead of 2026 levy - FT

        • Merz Calls for European Stock Exchange to Challenge US, Asia - Bloomberg

      • UK

        • Starmer and CPS face questions as China spy row deepens - BBC

        • UK economy posts 'meagre' 0.1% growth in August as 'pre-budget funk' hits services sector - The Guardian

        • Reeves should cut benefits to regain credibility, says IFS - The Telegraph

      • France

        • French court rejects Le Pen challenge to parliamentary election rules - Reuters

        • Lecornu Set to Survive No-Confidence Votes in French Parliament - Bloomberg

        • French companies rue 'betrayal' of Macron's business-friendly agenda - FT

      • Germany

        • Dröge criticizes conscription dispute - CDU defends lottery procedure - Handelsblatt

    • Company news:

      • Notable Gainers

        • +26.2% VID.LN (Videndum £0.47, +0.10) -- Q3 trading update

        • +12.8% DRW3.GR (Drägerwerk €75.70, +8.60) -- prelim. Q3 earnings

        • +12.3% ALCLS.FP (Cellectis SA €4.07, +0.45) -- hosting R&D day today showcasing pipeline progress and long-term value drivers

        • +11.6% CAPD.LN (Capital £1.20, +0.13) -- Q3 trading update

        • +9.7% DIM.FP (Sartorius Stedim Biotech €203.90, +17.95) -- 9M earnings

        • +9.3% NESN.SW (Nestle CHF83.21, +7.08) -- 9M sales; global headcount reduction of ~16,000

        • +8.5% KINV.B.SS (Kinnevik SEK89.62, +7.02) -- Q3 earnings

        • +8.5% CRDA.LN (Croda International £28.98, +2.28) -- Q3 sales update

        • +7.6% SRT3.GR (Sartorius €228.50, +16.20) -- 9M earnings

        • +7.5% DAM.GR (Data Modul €25.80, +1.80) -- prelim. Q3 earnings

        • +7.4% DOCM.SW (DocMorris CHF6.62, +0.46) -- Q3 revenue

        • +5.8% TIT.IM (Telecom Italia €0.51, +0.03) -- Deutsche Bank upgrade

        • +4.9% ARBN.SW (Arbonia CHF5.34, +0.25) -- acquires two manufactures

        • +4.4% SIP.BB (Sipef €80.80, +3.40) -- Q3 production update

        • +4.3% BAVA.DC (Bavarian Nordic A/S DKK240.30, +9.80) -- board recommends Nordic Capital and Permira consortium increased offer to DKK250/share from DKK233

        • +4.2% VLX.LN (Volex £3.69, +0.15) -- H1 trading update

        • +4.2% WITH.FH (WithSecure €1.70, +0.07) -- preliminary results of Diana BidCo Oy tender offer

        • +4.0% FTK.GR (flatexDEGIRO €32.32, +1.24) -- prelim. Q3 earnings

        • +3.8% AGY.LN (Allergy Therapeutics £0.08, -0.00) -- Phase I/IIa PROTECT trial progress

        • +3.6% KURN.SW (Kuros Biosciences CHF32.62, +1.12) -- 9M earnings

        • +3.5% NDA.FI.FH (Nordea Bank €14.63, +0.50) -- Q3 earnings; ECB approved buy-back programme of up to €250M

        • +3.1% BACTI.B.SS (Bactiguard Holding SEK18.20, +0.55)

        • +2.9% GEST.SM (Gestamp Automoción €3.24, +0.09) -- Bestinver Securities upgrade

        • +2.7% RDC.GR (Redcare Pharmacy €87.90, +2.35) -- German Govs. pass cost savings for statutory health insurance system (GKV)

        • +2.7% OEM.B.SS (OEM International SEK138.20, +3.60) -- Q3 earnings

        • +2.4% NXR.LN (Norcros £2.96, +0.07) -- H1 trading update

        • +2.3% FYB.GR (Formycon €24.10, +0.55) -- Klinge Biopharma's exclusive license agreement for the commercialization of FYB203 in Australia

        • +2.2% NKT.DC (NKT A/S DKK753.00, +16.50) -- DNB Carnegie upgrade

        • +2.2% EVT.GR (Evotec €6.88, +0.15) -- collaboration with Esperion leads to nomination of preclinical development candidate for treatment of Primary Sclerosing Cholangitis

      • Notable Decliners

        • -17.1% RECSI.NO (REC Silicon NOK1.16, -0.24) -- Norwegian court dismiss shareholder request for an investigation

        • -13.3% BAMNB.NA (Koninklijke BAM Groep €7.45, -1.14) -- Oddo downgrade

        • -10.5% NOTE.SS (NOTE SEK176.00, -20.70) -- Q3 earnings

        • -10.3% WTB.LN (Whitbread £28.93, -3.31) -- H1 earnings

        • -10.3% ALMDG.FP (MGI Digital Graphic Technology €11.90, -1.36) -- H1 earnings

        • -8.5% ALPUL.FP (PulluP Entertainment €21.00, -1.95) -- Q2 revenue

        • -7.3% CRTA.LN (Cirata £0.20, -0.02) -- Q3 trading update

        • -5.8% DNO.NO (DNO ASA NOK13.01, -0.80) -- initiated reduce at Kepler Cheuvreux

        • -5.6% TRX.LN (Tissue Regenix Group £0.09, -0.00) -- CEO to step down; restatement of FY24 and H1 25

        • -4.5% SLIGR.NA (Sligro Food Group €10.22, -0.48) -- Q3 revenue

        • -4.0% VK.FP (Vallourec €15.48, -0.65) -- reinstated underperform at BofA

        • -3.5% FDJU.FP (La Francaise des Jeux €26.70, -0.96) -- Q3 revenue

        • -3.4% VACN.SW (VAT Group CHF346.50, -12.20) -- Q3 revenue

        • -2.2% SRP.FP (SRP Groupe €0.44, -0.01) -- LOI for sale of The Bradery

        • -2.0% XPS.LN (XPS Pensions Group £3.40, -0.07) -- H1 trading update

        • -1.7% FHZN.SW (Flughafen Zuerich CHF242.00, -4.20) -- Goldman Sachs downgrade

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Warehouses de Pauw (WDP.BB)

        • DACHs: 4SC (VSC.GR)

        • Nordics: Volvo (VOLV.B.SS), Yara International (YAR.NO), Avanza Bank Holding (AZA.SS), Tomra Systems (TOM.NO), Norion Bank (NORION.SS), Talenom (TNOM.FH), I-Tech (ITECH.SS)

      • Trading Update:

        • Benelux: Basic-Fit (BFIT.NA)

        • DACHs: COMET Holding (COTN.SW)

        • UK: Pearson (PSON.LN)

      • CMD/events: Vanquis Banking Group (VANQ.LN) Capital Optimisation Presentation

  • Data:

    • Economics:

      • Netherlands Sep Unemployment Rate 4.0% vs consensus 3.8% and prior 3.9%

      • Italy Sep CPI +1.6% y/y vs preliminary +1.6%

      • UK Aug

        • Construction Output +1.0% vs consensus +1.0% and prior revised +1.8% from +2.4%

        • Visible Trade Balance (£21.18B) vs consensus (£21.8B) and prior revised (£20.65B) from (£22.24B)

        • Industrial Production (0.7%) y/y vs consensus (0.6%) and prior revised (0.1%) from +0.1%

    • Markets:

      • WTI Crude (Nov 25): +$0.12 or +0.21% to $58.39

      • €-$ +0.0023 or +0.20% to 1.1671

      • £-$ +0.0022 or +0.16% to 1.3426

      • €-£ +0.0003 to 0.8692

      • S&P 500 +0.22%

      • Performance year-to-date

        • FTSE 100: +15.45%

        • DAX: +21.91%

        • CAC: +10.95%

        • MIB: +23.95%

        • Stoxx 600: +12.62%

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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