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StreetAccount Summary - EU Market Recap: FTSE 100 (0.55%) to 9682.57, DAX (0.69%) to 23569.96, CAC40 (0.18%) to 7950.18, STOXX 600 (0.55%) to 564.79

Nov 07 ,2025

  • Synopsis:

    • European equity markets finished lower, but off worst levels. Travel/leisure, insurance, industrial goods/services and retail the biggest decliners. Autos/parts, real estate and media the best performers. Stoxx Europe 600 on track for second consecutive weekly decline. US equities lower in Friday midday trading with S&P down (1.0%). Bonds mostly lower. Treasuries mixed with the curve steepening; yields up ~2 bp at the long end. Dollar index down 0.2%. Gold up 0.4%. Bitcoin futures down 0.1%; earlier dipped below $100K for the first time since June. WTI crude up 0.3%.

    • Quiet macro calendar in Europe. German trade surplus narrowed on notable strength in imports and UK Halifax house price data came stronger-than-expected. German Chancellor Merz backs the EU plan to protect steel sector from Chinese imports. Bundesbank warned against risks from rising national debt combined with low growth in the region. Leaked reports in UK press said Chancellor Reeves told fiscal watchdog OBR that she intends to increase income tax. However, new deputy party leader Powell warned it must stand by manifesto commitment to retain trust in electorate. In other headlines, China signaled new interest in deepening economic cooperation with the EU, hinting at possibility of negotiating fresh trade or investment deal years after previous agreement was shelved. Meanwhile, Netherlands prepared to suspend ministerial order that gave it control over Chinese-owned chipmaker Nexperia, if China allows exports of critical chips again.

    • In earnings news flow, DACH names kicked off the session, with Daimler Truck Holding (DTG.GR), HENSOLDT (HAG.GR), FORVIA HELLA (HLE.GR), Krones (KRN.GR) posted Q3/9M numbers; in France, JCDecaux (DEC.FP), Arkema (AKE.FP), Euronext (ENX.FP) and Getlink (GET.FP) were among companies from the region to update investors. In the Benelux region, Proximus (PROX.BB) Aperam (APAM.NA) and InPost (INPST.NA) issued Q3 updates. Elsewhere, Pirelli & C. (PIRC.IM) reported Q3 last night whilst International Consolidated Airlines Group (IAG.LN), Monte dei Paschi (BMPS.IM) and Amadeus IT Group (AMS.SM) released its numbers before the open this morning. Rightmove (RMV.LN) reaffirmed FY25 guidance but lowered 2026-28 profit growth expectations due to increased AI investment In the Nordics, Novo Nordisk (NOVO.B.DC) confirmed an agreement with the US Administration to offer GLP-1s at a lower cost, with the FDA also awarding a second batch of CNPVs.

    • In M&A, ITV (ITV.LN) confirmed preliminary discussions regarding possible sale of M&E business to Sky for enterprise value of £1.6B ($2.10B). CM.com (CMCOM.NA) rejected unsolicited approach by Bird; sees no merits in engaging on the proposal. CMA proposes to accept remedies offered following investigation into Greencore Group's (GNC.LN) deal to buy Bakkavor Group (BAKK.LN). Just before the close media reported Siemens (SIE.GR) was in favor of direct spinoff of Healthineers (SHL.GR) stake and announcement could come as soon as next week.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Media +0.89%, Food & Beverage +0.72%, Chemicals +0.62%, Autos & Parts +0.58%, Telecom +0.41%, Persnl & HHold Goods +0.16%, Oil & Gas (0.07%), Real Estate (0.39%), Basic Resources (0.44%), Insurance (0.49%), Health Care (0.49%)

      • Underperformers:

        • Technology (2.07%), Travel & Leisure (1.25%), Retail (0.94%), Banks (0.90%), Financial Svcs (0.83%), Ind Goods & Svcs (0.69%), Construct & Mtls (0.66%), Utilities (0.66%)

    • Macro:

      • Central Banks:

        • ECB's Vujcic declares policy success amid economic risks: Bloomberg

        • ECB's Elderson says some downside growth risks have eased: Bloomberg

      • Geopolitics:

        • Netherlands ready to lift controls over Nexperia if China resumes exports of critical chips: Bloomberg

        • EU demands UK budget contributions for post-Brexit perks: FT

        • Europe should mull China action if situation worsens, Nagel says: Bloomberg

      • Germany:

        • Germany eyes stripping Damen of lead on delayed F126 frigates: FT:

      • UK:

        • Labour fourth in new poll and set for worst election in a century: Telegraph

        • Reeves considers less dramatic cut to cash ISA allowance: FT

        • UK Chancellor Reeves informs OBR she plans to raise income tax: London Times, Telegraph

      • Regulatory:

        • EU proposes pausing AI Act parts amid US, big tech pressure: FT

    • Peripheral markets:

      • Italy:

        • Budget wrong, doesn't up pay, general strike 12-Dec, says leftwing CGIL trade union leader Landini: ANSA

      • Spain:

        • PM Sánchez calls for elections in the Valencian Community to "break the denialist majority" of the PP and Vox: ElPais

    • Company news:

      • Notable Gainers

        • +23.3% RAY.B.SS (RaySearch Laboratories SEK259.50, +49.00) -- Q3 earnings

        • +16.6% ITV.LN (ITV £0.79, +0.11) -- confirms preliminary discussions regarding possible sale of M&E business to Sky for enterprise value of £1.6B

        • +5.2% DNO.NO (DNO ASA NOK14.90, +0.74) -- DNB Carnegie upgrade

        • +4.8% KRN.GR (Krones €125.40, +5.80) -- Q3 earnings

        • +4.8% AKE.FP (Arkema €51.35, +2.33) -- Q3 earnings

        • +4.4% BMPS.IM (Banca Monte dei Paschi di Siena €7.76, +0.33) -- Q3 earnings

        • +3.9% ENX.FP (Euronext €126.80, +4.80) -- Q3 earnings

        • +3.8% TRE.SM (Tecnicas Reunidas €29.96, +1.10) -- 9M earnings

        • +3.8% CEM.IM (Cementir Holding €15.14, +0.56) -- 9M earnings

        • +2.9% CLAS.B.SS (Clas Ohlson SEK344.60, +9.60) -- Oct sales

        • +2.6% APAM.NA (Aperam €30.66, +0.78) -- Q3 earnings

        • +2.2% BMW.GR (Bayerische Motoren Werke €86.14, +1.84)

        • +2.0% CLTN.SW (Coltene Holding CHF43.85, +0.85) -- initiated buy at Kepler Cheuvreux

        • +1.6% HLE.GR (FORVIA HELLA €81.60, +1.30) -- 9M eanrings

        • +1.6% AMS.SM (Amadeus IT Group €66.80, +1.02) -- Q3 earnings

        • +1.5% STX.LN (Shield Therapeutics £0.07, -0.00) -- MFDS grants regulatory approval for ACCRUFeR (Ferric Maltol) in the Republic of Korea

        • +0.1% NEXI.IM (Nexi SpA €4.00, -0.00) -- confirms receiving an offer from TPG for the acquisition of certain assets of its Digital Banking Solutions unit

      • Notable Decliners

        • -12.5% RMV.LN (Rightmove £5.74, -0.82) -- trading statement

        • -11.6% IAG.LN (International Consolidated Airlines Group £3.66, -0.48) -- Q3 earnings

        • -7.7% MEGP.LN (ME Group International £1.75, -0.15) -- FY trading update

        • -6.7% ENSU.NO (Ensurge Micropower NOK0.93, -0.07) -- Q3 earnings; extends bookbuilding period for private placement

        • -6.1% CAT.B.SS (Catella SEK27.55, -1.80) -- Q3 earnings

        • -5.9% GENO.SS (Genovis SEK20.75, -1.30) -- Q3 earnings

        • -5.9% EDPR.PL (EDP Renovaveis €11.72, -0.73) -- Oddo and Goldman Sachs downgrades

        • -5.9% AIXA.GR (Aixtron €16.50, -1.04) -- Van Lanschot Kempen downgrade

        • -5.2% EDP.PL (EDP-Energias de Portugal €3.89, -0.21) -- Oddo and Goldman Sachs downgrades

        • -5.1% PROX.BB (Proximus €6.92, -0.38) -- Q3 earnings

        • -4.3% SIFG.NA (Sif Holding €6.62, -0.30) -- 9M earnings

        • -4.1% REC.LN (Record £0.56, -0.02) -- H1 earnings

        • -3.6% CLNX.SM (Cellnex Telecom €26.60, -0.99) -- 9M earnings; to distribute €500M in share premium reserves and initiate €500M share buy-back program

        • -3.4% HARVIA.FH (Harvia €41.50, -1.45) -- OP Corporate Bank downgrade

        • -3.3% GFG.GR (Global Fashion Group €0.29, -0.01) -- Q3 earnings

        • -2.6% EMBRAC.B.SS (Embracer Group SEK89.61, -2.35) -- completes share buyback program of up to SEK 500M announced on 18-Sept

        • -2.3% SHL.GR (Siemens Healthineers €43.29, -1.00) -- Siemens said to favour direct spinoff of Healthineers stake; plans could be announced as soon as next week -- Bloomberg

          • -1.8% SIE.GR (Siemens AG €237.30, -4.30)

        • -1.9% SBRY.LN (J Sainsbury £3.49, -0.07) -- to commence already communicated £92M share buyback programme

        • -1.9% ALPHA.GA (Alpha Bank SA €3.42, -0.07) -- Q3 earnings

        • -1.1% GMAB.DC (Genmab DKK1,847.50, -20.00) -- Q3 earnings; DA approves Darzalex Faspro for adults with high-risk smoldering multiple myeloma

    • EU companies reporting on 10-Nov:

      • Earnings:

        • DACHs: Hannover Re (HNR1.GR), Salzgitter (SZG.GR), Hypoport (HYQ.GR), Biotest (BIO3.GR), q.beyond (QBY.GR), LEM Holding (LEHN.SW)

        • Nordics: NTG Nordic Transport Group (NTG.DC), Shelf Drilling (SHLF.NO), Shelf Drilling North Sea (SDNS.NO), Intellego Technologies (INT.SS)

        • Southern Europe: Almirall (ALM.SM), Infrastrutture Wireless Italiane (INW.IM), Banca Ifis (IF.IM), Sanlorenzo (SL.IM), NewPrinces (NWL.IM), Acinque (AC5.IM), Pharmanutra (PHN.IM), Valsoia (VLS.IM)

        • UK: Kainos Group (KNOS.LN), Applied Nutrition (APN.LN)

      • Trading Update:

        • UK: RHI Magnesita (RHIM.LN)

      • CMD/Events: London Stock Exchange Group (LSEG.LN) Innovation Forum

  • Data:

    • Economics:

      • UK Oct Halifax House Prices +1.9% y/y vs cons +1.5% and prior +1.3%; +0.6% m/m vs cons +0.1% and prior (0.3%)

      • France Sep Trade Balance (€6.6B) vs cons (€5.9B) and prior revised (€5.2B) from (€5.5B)

      • Switzerland Oct Consumer Sentiment (36.9) vs cons (36.0) and prior (36.5)

      • Germany Sep Trade Balance €15.3B vs cons €16.7B and prior revised €16.9B from €17.2B

      • Norway Sep Manufacturing Production (1.7%) m/m vs cons +0.6% and prior +0.7%

      • Denmark Sep Manufacturing Production +8.0% m/m vs cons +1.5% and prior revised (3.0%) from (2.9%)

    • Markets:

      • WTI Crude (Dec 25): +$0.18 or +0.30% to $59.61

      • €-$ +0.0031 or +0.27% to 1.1577

      • £-$ +0.0028 or +0.21% to 1.3166

      • €-£ +0.0005 to 0.8793

      • S&P 500 (1.06%)

      • Performance year-to-date

        • FTSE 100: +18.47%

        • DAX: +18.39%

        • CAC: +7.72%

        • MIB: +25.54%

        • Stoxx 600: +11.26%

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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