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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.44% to 9696.74, DAX (0.12%) to 24278.63, CAC40 (0.27%) to 8216.58, STOXX 600 (0.22%) to 575.76

Oct 28 ,2025

  • Synopsis:

    • European equity markets ended mixed to mostly lower Tuesday. The broader Stoxx Europe 600 fell (0.22%) after having reached a record high on Monday. Regional index gainers included the Spain IBEX +0.5%, Italian MIB +0.5%, UK FTSE 100 +0.4%, while the Swiss SMI (1.3%), Belgium BEL 20 (0.9%) and Netherlands AEX (0.8%) were among main underperformers.

    • In the US, a bit of a waiting game for a pickup in higher-profile earnings, particularly the bulk of the Mag 7 names Wednesday and Thursday after the close. FOMC decision on Wednesday another key area of focus, particularly amid ramp in speculation that central bank could signal end of QT along with a widely expected 25 bp rate cut. Trump-Xi meeting on Thursday expected to see the two leaders sign off on the framework agreement reached last weekend in Malaysia. EU and China to hold talks this week on rare earths curbs and Nexperia. European Commission President von der Leyen said all options being considered if officials cannot come to agreement with Beijing.

    • European macro data updates include improvement in ECB consumer expectations survey; latest German GfK consumer confidence update came in weaker than forecast; and Ifo survey saw weaker German export expectations. In other macro news, UK press reported that Chancellor Reeves is facing a bigger than expected downgrade to productivity forecasts, which would increase size of fiscal gap. Reeves confirmed on Monday that November budget would include both tax rises and spending cuts. BRC shop price data showed food prices fell by most in almost five years. Elsewhere, latest update industry update showed European car sales rose for the third consecutive month.

    • On the corporate front, Nokia (NOKIA.FH) shares jumped over 20% on news NVIDIA to make $1.0B equity investment at $6.01/sh in Nokia in addition to new strategic partnership. Stoxx Europe 600 heavyweight HSBC (HSBA.LN) was up 4.6% on back of its Q3 underlying earnings and revenue beat with FY25 NII and RoTE guidance also increased. Air Liquide (AI.FP) Q3 results came aligned with consensus, with comparable growth coming at +1.9% vs a consensus of +1.6%. The group also posted a record high backlog. Wind stocks outperformed with Nordex (NDX1.GR) surging 22% on prelim Q3 earnings beat, improved FY margin guidance. On the downside, BNP Paribas (BNP.FP) reported softer-than-expected Q3 earnings. Novartis (NOVN.SW) (4.2%) weighed on healthcare sector on back of its mixed earnings. Elsewhere in France, Capgemini (CAP.FP) shares climbed on back of Q3 revenues while Danone (BN.FP) was little changed as it reported Q3 LFL sales +4.8% vs SA consensus +4.3%.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Telecom +2.17%, Utilities +1.07%, Banks +0.83%, Basic Resources +0.79%, Media +0.24%, Oil & Gas +0.00%, Autos & Parts (0.05%), Insurance (0.12%), Ind Goods & Svcs (0.17%)

      • Underperformers:

        • Health Care (1.73%), Real Estate (1.04%), Construct & Mtls (0.83%), Chemicals (0.67%), Financial Svcs (0.61%), Retail (0.58%), Travel & Leisure (0.47%), Persnl & HHold Goods (0.44%), Food & Beverage (0.39%), Technology (0.36%),

    • Macro:

      • Bank of England to hold rates this quarter and resume cutting early 2026 -- Reuters poll

      • Euro appreciation significantly eroding EU competitiveness, ECB's Panetta says -- Reuters

      • Ireland's Economy Contracts for First Time in Almost Two Years -- Bloomberg

      • As Netherlands goes to the polls again, Geert Wilders faces isolation -- Guardian

      • Overall UK shop price inflation slowed in October -- BRC

    • Company news:

      • Notable Gainers

        • +25.2% IDOX.LN (IDOX £0.70, +0.14) -- Long Path Partners LP announces recommended 71.5p/share in cash acquisition in company

        • +22.9% NDX1.GR (Nordex €24.70, +5.06) -- prelim Q3 earnings

        • +20.9% NOKIA.FH (Nokia €0.00, +1.14) -- NVIDIA to make $1.0B equity investment at $6.01/sh in Nokia in addition to new strategic partnership - Nokia's board resolved on directed share issuance to NVIDIA

        • +18.2% STORY.B.SS (Storytel SEK85.60, +13.50) -- Q3 earnings; raises FY EBITDA guidance

        • +16.4% AAF.LN (Airtel Africa £2.43, +0.38) -- H1 earnings

        • +11.6% VBG.B.SS (VBG Group SEK323.40, +38.00) -- Q3 earnings

        • +9.7% MDF.SM (Duro Felguera €0.26, +0.02) -- begins the process of judicial approval of the restructuring plan

        • +7.7% SGF.IM (Sogefi €3.05, +0.23) -- Q3 earnings

        • +7.7% CICN.SW (Cicor Technologies CHF197.00, +15.00) -- to acquire two production sites from Valtronic

        • +7.5% FING.B.SS (Fingerprint Cards SEK24.32, +1.67) -- Q3 earnings

        • +7.2% VWS.DC (Vestas Wind Systems DKK126.80, +8.85) -- NDX1.GR sympathy

        • +6.3% SHA0.GR (Schaeffler €0.00, +0.41) -- raises FY25 guidance for free cash flow before cash in and outflows for M&A activities

        • +6.1% DNORD.DC (D/S Norden DKK266.40, +15.80) -- prelim Q3 earnings

        • +5.9% MSAB.B.SS (Micro Systemation SEK71.00, +4.00) -- Q3 earnings

        • +4.6% HSBA.LN (HSBC Holdings £10.31, +0.46) -- Q3 earnings

        • +4.4% KTCG.AV (Kapsch TrafficCom €6.68, +0.28) -- prelim H1 earnings; signs cooperation agreement with Dutch Motor Vehicle Administration regarding new Dutch truck tolling system

        • +3.4% IBE.SM (Iberdrola €17.49, +0.59) -- Q3 earnings

        • +2.2% FRES.LN (Fresnillo £20.24, +0.46) -- sector move

        • +1.5% CAP.FP (Capgemini €135.25, +1.90) -- Q3 revenue; raises FY constant currency revenue growth guidance

        • +1.2% SPX.LN (Spirax Group £71.95, +0.85) -- transferred buy at UBS

      • Notable Decliners

        • -27.4% SMHN.GR (SÜSS MicroTec €27.42, -9.92) -- prelim Q3 earnings; lowers FY25 guidance for gross profit margin and EBIT margin

        • -14.8% RWS.LN (RWS Holdings £0.89, -0.14) -- FY trading statement

        • -11.3% VOS.GR (Vossloh €80.20, -9.60) -- Kepler Cheuvreux downgrade

        • -8.7% AVIO.IM (Avio €45.70, -3.90) -- 9M earnings

        • -8.4% HYQ.GR (Hypoport €138.40, -12.20) -- announces doubling of EBIT in first 9 months of 2025; adjustment of revenue and gross profit forecast

        • -6.4% AMUN.FP (Amundi €67.55, -4.30) -- Q3 earnings

        • -6.3% SATS.NO (SATS ASA NOK38.95, -2.55) -- Q3 earnings

        • -6.0% PHIA.NA (Koninklijke Philips €0.00, -1.49) -- FDA posts warning letter following inspections of its medical device facilities

        • -5.9% SIKA.SW (Sika Group CHF163.25, -9.95) -- Morgan Stanley and JPMorgan downgrade

        • -5.9% BUCN.SW (Bucher Industries CHF366.00, -22.50) -- 9M revenue

        • -4.8% SOLB.BB (Solvay €26.76, -1.36) -- Berenberg downgrade

        • -4.5% SY1.GR (Symrise €77.66, -3.64) -- Q3 sales; updates FY outlook

        • -4.2% NOVN.SW (Novartis CHF99.47, -4.29) -- Q3 earnings

        • -3.5% BNP.FP (BNP Paribas €67.15, -2.45) -- Q3 earnings; further updates on Sudan litigation

        • -3.0% BWE.NO (BW Energy NOK38.45, -1.20) -- Q3 earnings

        • -2.8% ETTE.FH (Etteplan €9.64, -0.28) -- lowers FY guidance

        • -2.1% ATCO.A.SS (Atlas Copco SEK167.65, -3.60) -- transferred sell at UBS

        • -2.0% LSG.NO (Lerøy Seafood Group NOK49.56, -1.03) -- Danske Bank downgrade

        • -1.7% GALP.PL (Galp Energia SGPS €17.14, -0.31) -- Santander and Mediobanca downgrade

        • -0.9% AYV.FP (Ayvens €10.17, -0.09) -- initiated hold at Jefferies

        • -0.9% TTK.GR (Takkt €4.95, -0.04) -- Q3 earnings

        • -0.3% WRT1V.FH (Wartsila €26.17, -0.08) -- Q3 earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: OMV (OMV.AV)

        • Benelux: Melexis (MELE.BB)

        • Denmark: Jyske Bank (JYSK.DC), Alm. Brand (ALMB.DC), Brødrene A & O Johansen (AOJ.B.DC)

        • Finland: Fortum (FORTUM.FH), Neste (NESTE.FH), UPM-Kymmene (UPM.FH), Valmet (VALMT.FH), Outokumpu (OUT1V.FH), Kempower (KEMPOWR.FH), Lassila & Tikanoja (LAT1V.FH), Enento Group (ENENTO.FH), Etteplan (ETTE.FH), Suominen (SUY1V.FH), Loihde (LOIHDE.FH)

        • France: Airbus (AIR.FP), Lectra (LSS.FP), Claranova (CLA.FP)

        • Germany: Deutsche Bank (DBK.GR), Mercedes-Benz Group (MBG.GR), BASF(BAS.GR), Adidas (ADS.GR), TRATON (8TRA.GR), DWS Group (DWS.GR), Redcare Pharmacy (RDC.GR), Drägerwerk (DRW3.GR)

        • Italy: Davide Campari-Milano (CPR.IM), Amplifon (AMP.IM)

        • Norway: Equinor (EQNR.NO), Telenor (TEL.NO), Nordic Semiconductor (NOD.NO), SpareBank 1 SMN (MING.NO), SpareBank 1 Nord-Norge (NONG.NO), BlueNord (BNOR.NO), NEL (NEL.NO), Axactor (ACR.NO), Smartoptics Group (SMOP.NO), PhotoCure (PHO.NO), Aker Carbon Capture (ACC.NO)

        • Portugal: Jeronimo Martins (JMT.PL), Banco Comercial Portugues (BCP.PL)

        • Spain: Banco Santander (SAN.SM), Aena S.M.E. (AENA.SM), Endesa (ELE.SM), Naturgy Energy Group (NTGY.SM), Redeia Corporacion (RED.SM), Vidrala (VID.SM)

        • Sweden: SKF (SKF.B.SS), Sweco (SWEC.B.SS), Epiroc (EPI.A.SS), Electrolux Professional (EPRO.B.SS), Scandic Hotels Group (SHOT.SS), Troax Group (TROAX.SS), Svedbergs Group (SVED.B.SS), BioInvent International (BINV.SS), Lammhults Design Group (LAMM.B.SS), IRLAB Therapeutics (IRLAB.A.SS)

        • Switzerland: UBS Group (UBSG.SW), Straumann Holding (STMN.SW)

        • UK: GSK (GSK.LN), Aston Martin Lagonda Global Holdings (AML.LN)

        • Other: Arion Banki (ARION.IR)

      • Trading Update:

        • Benelux: Allfunds Group (ALLFG.NA), Corbion (CRBN.NA)

        • DACHs: Green Hydrogen Systems (3LUA.GR)

        • France: Sopra Steria Group (SOP.FP), Manitou BF (MTU.FP), Infotel (INF.FP)

        • Nordics: Remedy Entertainment (REMEDY.FH)

        • Southern Europe: Technogym (TGYM.IM)

        • UK: Glencore (GLEN.LN), Next (NXT.LN), Oakley Capital Investments (OCI.LN), Elementis (ELM.LN), JD Wetherspoon (JDW.LN), Ecora Resources (ECOR.LN)

        • Other: Bank of Ireland Group (BIRG.ID)

  • Data:

    • Economics:

      • Germany Nov GfK Consumer Confidence (24.1) vs consensus (22.0) and prior revised (22.5) from (22.3)

      • Sweden Sep Trade Balance SEK5.4B vs consensus SEK2.0B and prior revised (SEK8.1B) from (SEK8.9B)

      • Italy Oct Business Confidence 88.3 vs consensus 86.4 and prior revised 87.4 from 87.3

      • Euro area net saving increased to €861B in four quarters to second quarter of 2025, compared with €857B one quarter earlier

    • Markets:

      • WTI Crude (Dec 25): ($1.34) or (2.19%) to $59.97

      • €-$ +0.0014 or +0.12% to 1.1658

      • £-$ (0.0059) or (0.44%) to 1.3276

      • €-£ +0.0050 to 0.8782

      • S&P 500 +0.18%

      • Performance year-to-date

        • FTSE 100: +18.64%

        • DAX: +21.95%

        • CAC: +11.32%

        • MIB: +26.16%

        • Stoxx 600: +13.42%

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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