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Back to Daily DR Market Summary

StreetAccount Summary - European Market Recap: FTSE 100 +0.09% to 9653.82, DAX +0.28% to 24308.78, CAC40 +0.16% to 8239.18, STOXX 600 +0.22% to 577.03

Oct 27 ,2025

  • Synopsis:

    • European equity markets ended the day mixed, closing around the best levels of the session following a firmer open on Wall Street, buoyed by the latest bout of US-China trade de-escalation

    • Having pared initial opening gains and flirting with negative territory on the day, Pan-European indices spent much of the session range-bound, slightly higher on the day, before moving to their best levels after Wall Street's open, paring advances again and then moving back to the best levels of the day.

    • Italy +1.0% and Spain +0.9% led outperformers, whilst Denmark (0.6%), Greece (0.4%) and Switzerland (0.3%) led underperformers

    • French politics remains in focus as lawmakers consider the 2026 budget and Dutch election looms later in the week

    • Bundesbank's Köhler-Geib panelist spoke at event hosted by International Bankers Forum whilst Bundesbank's Balz did the same earlier and will again at 18:00CET at event in bank's event series title: "The Future of Payments".

    • ECB's Elderson and Tuominen both addressed a joint ECB /EUI banking governance high-level seminar.

    • In the UK, parliament saw MPs questions on work and pensions. Also, there's Annual Session of the Nordic Council (through Thu). EU's von der Leyen among the participants for the first time, attends a working dinner with business leaders and Swedish ministers hosted by Sweden's PM Kristersson.

    • EU's Jørgensen was in Romania to co-host the Ministerial meeting of the High-Level Group on Central and South-Eastern Europe Energy Connectivity (CESEC). EU's Agriculture and Fisheries Council meets (through Tue) and will seek to reach a political agreement on next year's fishing opportunities in the Baltic Sea.

    • Improvement in the Germany Oct IFO survey headline reflected better expectations index, but current conditions index still soft

    • Slow start to the week regarding company news flow. In M&A, Sydbank (SYDB.DC), Arbejdernes Landsbank and Vestjysk Bank (VJBA.DC) agreed to merger and Novartis (NOVN.SW) agrees to buy Avidity Biosciences (RNA). Reportedly, Commerzbank (CBK.GR) supervisory board investigates secret meeting between former CEO Knof and Unicredit (ICG.IM) CEO Orcel.

    • Earnings/updates included Galp Energia (GALP.PL) moving to the upside and Kapsch TrafficCom (KTCG.AV) moving in the other direction.

    • Appear (APR.NO) sets indicative price of NOK66.5/share for IPO through ABG Sundal Collier and DNB Carnegie

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Banks +1.23%, Technology +1.17%, Insurance +0.67%, Financial Svcs +0.63%, Ind Goods & Svcs +0.27%, Autos & Parts +0.24%

      • Underperformers:

        • Chemicals (1.02%), Media (0.98%), Real Estate(0.57%), Health Care (0.54%), Food & Beverage (0.43%), Construct & Mtls (0.31%), Travel & Leisure (0.25%), Oil & Gas (0.19%), Utilities (0.15%), Persnl & HHold Goods +0.02%, Basic Resources +0.04%, Telecom +0.06%, Retail +0.14%

    • Macro/Peripheral markets:

      • EU:

        • Statement by Council President Costa following his meeting with Chinese Premier Li Qiang in the margins of the ASEAN Summit - release; Speech by Costa at the opening session - release

      • France:

        • Postpones divisive wealth levy amid coalition's budget turmoil - Bloomberg

      • Germany:

        • Aims to become the backbone of Europe's defense revival - Politico

      • Hungary:

        • PM Orbán visits Vatican City and Rome, meets with Pope Leo - Hungary Today, and Italy's PM Meloni - ANSA

      • Ireland:

        • Might Taoiseach Martin face a Party leadership confidence vote - RTE

      • Netherlands:

        • PVV still set to become largest party in next parliament, but lead shrinking, latest opinion poll shows - Ipsos I&O

      • UK:

        • 37% of manufacturers say they will increase investment following the Government's Industrial Strategy announcement - Make UK investment monitor

        • Starmer faces calls for Labour reset after historic Caerphilly by-election (for Welsh parliament) loss - FT

        • Property tax reform on the table for November budget - Telegraph; might any reforms in England have a meaningful ripple effect in Scotland - The Scotsman

        • Chancellor Reeves facing growing calls from within Labour to hit the wealthy in budget - Independent

      • Sovereign credit rating reviews after the close Fri include:

        • European Union AAA reaffirmed, outlook Stable at DBRS

        • France Aa3 reaffirmed outlook negative from stable at Moody's

    • Company news:

      • Notable Gainers

        • +32.7% GDWN.LN (Goodwin) -- guides FY trading pretax income £71M vs year-ago £35.5M

        • +20.8% PCELL.SS (PowerCell Sweden) -- secures order worth SEK43M for delivery of its M2Power 250

        • +11.9% MVC.SM (Metrovacesa) -- 9M revenue €267M, (4%) vs year-ago €278.9M

        • +7.9% FAG.SS (Fagerhult Group) -- Q3 EPS SEK0.47 ex-items vs FactSet SEK0.50 [3 est, SEK0.45-0.54]

        • +7.5% IDR.SM (Indra Sistemas) -- neutral from underperform at Oddo

        • +6.4% BEIA.B.SS (Beijer Alma) -- buy from hold at Handelsbanken

        • +6.0% HIAB.FH (Hiab) -- buy from hold at SEB; accumulate from reduce at OP Corporate Bank

        • +5.5% SYDB.DC (Sydbank) -- agrees to merger with Arbejdernes Landsbank and Vestjysk Bank

          • +35.0% VJBA.DC (Vestjysk Bank)

        • +5.0% MEDI.NO (MediStim) -- buy from hold at DNB Carnegie

        • +4.0% OBI.LN (Ondine Biomedical) -- Steriwave ICU Pilot Study preliminary results show Steriwave nasal photodisinfection significantly reduces harmful pathogens in ICU patients

        • +3.3% BMPS.IM (Banca Monte dei Paschi di Siena) -- outperform from underperform at Autonomous Research

        • +3.6% GALP.PL (Galp Energia) -- Q3 RCA EBITDA €911M vs consensus €865.0M

        • +3.2% P911.GR (Porsche) -- 9M Operating profit €40M vs year-ago €4.04B

          • +0.7% VOW.GR (Volkswagen) -- CEO says Porsche is in a massive crisis; notes Volkswagen has secured a sufficient supply of chips for now - Bild am Sonntag

        • +2.0% BANB.SW (Bachem Holding) -- buy from hold at Deutsche Bank

        • +2.0% SU.FP (Schneider Electric) -- overweight from equal-weight at Morgan Stanley

        • +1.9% TRST.LN (Trustpilot Group) -- initiated outperform at RBC Capital Markets

        • +1.7% PAL.AV (Palfinger) -- 9M EPS €2.04 vs year-ago €2.61; still expects Q4 earnings to largely offset first 9M decline; shares reversed initial declines

        • +1.2% SKF.B.SS (SKF) -- discontinues production at Tortuguitas plant in Argentina

          • On earnings/updates: reversing initial declines JDEP.NA (JDE Peet)

      • Notable Decliners

        • -19.3% BALCO.SS (Balco Group) -- Q3 net income (SEK4.8M) vs FactSet SEK3M [1 est], outlook disappointing

        • -17.2% BVXP.LN (Bioventix) -- FY EPS £1.43 vs year-ago £1.52

        • -13.2% RBW.LN (Rainbow Rare Earths) -- FY net income ($3.2M) vs FactSet ($4.1M) [2 est, ($4.2)-(4M)]

        • -12.6% KTCG.AV (Kapsch TrafficCom) -- prelim H1 EBIT €10.0M; figures fall significantly short of expectations; lowers FY outlook

        • -4.4% HBC.NO (Hofseth BioCare) -- subsequent offering of up to 16.7M new shares

        • -4.3% SIKA.SW (Sika Group) -- neutral from outperform at Oddo

        • -3.9% VAIAS.FH (Vaisala) -- hold from buy at Berenberg

        • -3.7% KEMIRA.FH (Kemira) -- accumulate from reduce at Inderes; reduce from accumulate at OP Corporate Bank

        • -3.5% LDA.SM (Linea Directa Aseguradora) -- Q3 net income €15.9M vs FactSet €18.3M [4 est, €16-19M]

        • -3.4% BFIT.NA (Basic-Fit) -- acquires Clever Fit for €160M in all-cash transaction with €15M earn-out

        • -3.0% NDX1.GR (Nordex) -- neutral from outperform at Santander

        • -2.9% NANOFH.FH (Nanoform Finland) -- partners with Revio Therapeutics to develop long-acting locally-delivered Hydrogel Nanoformulation to treat glioma

        • -2.7% EDPR.PL (EDP Renovaveis) -- neutral from buy at Citi; hold from buy at Deutsche Bank

        • -2.7% EDP.PL (EDP-Energias de Portugal) -- hold from buy at Deutsche Bank; neutral from overweight at JPMorgan

        • -2.5% SAAB.B.SS (Saab) -- willing to open final-assembly plant in Ukraine as part of deal for Ukraine to buy up to 150 Gripen jets - FT

        • -1.9% UCB.BB (UCB) -- transferred underperform at Jefferies

        • -1.8% GNC.LN (Greencore) -- UK's CMA will refer Greencore's acquisition of Bakkavor Group for an in-depth investigation unless parties offer acceptable undertakings to address competition concerns

          • +0.2% BAKK.LN (Bakkavor Group)

        • -1.6% ROG.SW (Roche Holding) -- transferred underperform at Jefferies

        • -1.6% RHM.GR (Rheinmetall) -- German MPs received donations from Rheinmetall subsidiary Blackned ahead of key defense votes; however, bribery suspicions dismissed -- Berliner-Zeitung

        • -1.4% EXENS.FP (Exosens) -- Q3 revenue €108.3M vs FactSet €106.0M [2 est, €105.5-106.5M], reaffirms 2025 outlook

        • -0.9% NOVN.SW (Novartis) -- to buy Avidity Biosciences for $72/share in cash; transferred hold at Jefferies

          • On earnings/updates: NEOJ.GR (Norma Group) and reversing initial gains CGEO.LN (Georgia Capital)

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: ASM International (ASM.NA), Royal KPN (KPN.NA), Aedifica (AED.BB)

        • Finland: Wartsila (WRT1V.FH), Orion (ORNBV.FH), Nokian Renkaat (TYRES.FH), F-Secure (FSECURE.FH), Taaleri (TAALA.FH), ecnotree (TEM1V.FH)

        • France: BNP Paribas (BNP.FP), Amundi (AMUN.FP), Bic (BB.FP), M6-Metropole (MMT.FP)

        • Germany: Siltronic (WAF.GR), Takkt (TTK.GR), Amadeus FiRe (AAD.GR)

        • Norway: Vend Marketplaces (VENDA.NO), Elopak (ELO.NO), BW Energy (BWE.NO), SATS (SATS.NO), Public Property Invest (PUBLI.NO), Klaveness Combination Carriers (KCC.NO)

        • Southern Europe: Iberdrola (IBE.SM), Ferrovial (FER.SM), ENCE Energia y Celulosa (ENC.SM), Italgas (IG.IM), Biesse (BSS.IM)

        • Sweden: Alfa Laval (ALFA.SS), Fastighets Balder (BALD.B.SS), Nolato (NOLA.B.SS), Truecaller (TRUE.B.SS), engcon (ENGCON.B.SS), VBG Group (VBG.B.SS), HANZA (HANZA.SS), Storytel (STORY.B.SS), Traction (TRAC.B.SS), VNV Global (VNV.SS), Micro Systemation (MSAB.B.SS), Fingerprint Cards (FING.B.SS)

        • Switzerland: Novartis (NOVN.SW), Logitech International (LOGN.SW), Temenos (TEMN.SW), Landis+Gyr Group (LAND.SW)

        • UK: HSBC Holdings (HSBA.LN), Airtel Africa (AAF.LN), Ultimate Products (ULTP.LN)

      • Trading Update:

        • Benelux: Adyen (ADYEN.NA), Van Lanschot Kempen (VLK.NA)

        • DACHs: Symrise (SY1.GR), CECONOMY (CEC.GR), Bucher Industries (BUCN.SW), SIG Combibloc Group (SIGN.SW)

        • France: Air Liquide (AI.FP), Danone (BN.FP), Capgemini (CAP.FP), Interparfums (ITP.FP), Emeis (EMEIS.FP), Compagnie des Alpes (CDA.FP), Vetoquinol (VETO.FP), Seche Environnement (SCHP.FP), Haulotte Group (PIG.FP)

        • Southern Europe: Moncler (MONC.IM)

        • UK: Anglo American (AAL.LN), IG Design Group (IGR.LN)

  • Data:

    • Economics:

      • Denmark Sep retail sales +3.5% y/y vs consensus +2.6%, prior revised +2.6% from +2.5%

      • Eurozone Sep M3 Money Supply +2.8% y/y vs consensus +2.7%, prior +2.9%

      • Germany Oct IFO survey

        • Business Climate 88.4 vs consensus 87.8 and prior 87.7

        • Current Conditions 85.3 vs consensus 85.5, prior 85.7

        • Expectations 91.6 vs consensus 89.1, prior revised 89.8 from 89.7

      • UK Oct CBI Distributive Trades (27) vs consensus (27), prior (29) - release

    • Markets:

      • WTI Crude (Dec 25): +$0.15 or +0.24% to $61.65

      • €-$ +0.0005 or +0.04% to 1.1641

      • £-$ +0.0007 or +0.05% to 1.3332

      • €-£ (0.0001) to 0.8732

      • S&P 500 +0.98%

      • Performance year-to-date:

        • FTSE 100: +18.12%

        • DAX: +22.10%

        • CAC: +11.63%

        • MIB: +25.52%

        • Stoxx 600: +13.67%

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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