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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (1.11%) to 9698.37, DAX (0.69%) to 23876.55, CAC40 (0.76%) to 8170.09, STOXX 600 (1.01%) to 574.81

Nov 14 ,2025

  • Synopsis:

    • European equity markets closed lower, though above the worst levels of the day seen around mid-session

    • Shares opened broadly lower and after a period on range-bound trade, extended declines, before paring losses as Wall Street recovered initial falls, though pan-European indices remained below the day's initial levels.

    • UK assets pressured initially as budget U-turn puts fiscal credibility and political competence into doubt

    • Denmark, Italy both (1.7%) and Ireland (1.6%) led underperformers, whilst Norway (0.4%) led outperformers.

    • At the final day of Singapore Fintech Festival, Bank of Spain's Escrivá, Croatia central bank's Vujčić, Bundesbank's Balz and Slovakia central bank's Kažimír all participated on various panels. Riksbank's Seim spoke about the driving forces behind the development of the krona. The final day of ECB's Banking Supervision form saw Eurogroup's Donohoe and ECB's Elderson among the speakers. Czech central bank released latest Monetary Policy Report

    • ECOFIN meeting on EU budget. EU's Dombrovskis delivered a keynote speech at the European Fiscal Board event. Chancellor Merz hosts Cyprus' President Christodoulides, topics for discussion include the priorities of Cyprus's upcoming presidency of the Council of the European Union. Meeting will be followed by joint press conf. Norway's PM Støre speech spoke at the annual conf of the Bergen Chamber of Commerce

    • In addition to Acciona (ANA.SM), Allianz (ALV.GR), Alstom (ALO.FP), Bavarian Nordic (BAVA.DC), Land Securities Group (LAND.LN), Siemens Energy (ENR.GR) and Swiss Re (SREN.SW), there were earnings/updates from Aena S.M.E. (AENA.SM) reports Oct traffic +4.5% y/y, Melrose Industries (MRO.LN) reaffirms FY guidance and DFS Furniture (DFS.LN) notes encouraging start to the year; expects to deliver strong y/y profit growth in H1.

    • M&A new flow included Wolters Kluwer (WKL.NA) to acquire legal AI assistant software provider Libra Technology GmbH for up to €90M and JD.com announces result of its voluntary public takeover offer for CECONOMY ?(CEC.GR), additional acceptance period runs until 27-Nov. Reportedly, Aston Martin (AML.LN) chairman reportedly contemplated buyout of car manufacturer alongside Saudi fund and Repsol (REP.SM) examining transaction to merge its upstream business with APA Corp.

    • Among companies seeing EU's CHMP adopting positive opinion recommendations were Sanofi Winthrop Industrie's (SAN.FP) Teizeild and AstraZeneca's Koselugo

    • Sovereign credit rating reviews due after the close include DBRS (UK), Fitch (Greece, Slovakia), Moody's (Malta, Portugal) and S&P (Cyprus)

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Oil & Gas +1.13%, Persnl & HHold Goods (0.17%), Utilities (0.36%), Media (0.42%), Ind Goods & Svcs (0.57%), Financial Svcs (0.92%), Telecom (0.94%), Autos & Parts (0.96%), Insurance (0.98%), Health Care (0.98%)

      • Underperformers:

        • Banks (2.38%), Real Estate(1.60%), Chemicals (1.55%), Travel & Leisure (1.45%), Technology (1.40%), Retail (1.37%), Construct & Mtls (1.37%), Food & Beverage (1.23%), Basic Resources (1.17%)

    • Macro/Peripheral markets:

      • Finland:

        • Employment to pick up by the end of 2025 - Ministry of Economic Affairs and Employment short-term labour market forecast

      • Germany:

        • Coalition reportedly agrees on state-subsidized industrial electricity prices, reduction in air traffic tax, and German investment fund for startups

        • Budget committee approves 2026 fiscal plan with €480B ceiling - Reuters

      • Greece:

        • Defense systems and financial support dominate Ukraine leader's upcoming visit to Athens - ekathimerini

      • Ireland:

        • Government defends removing targets from housing plan - RTE

      • Netherlands:

        • Cabinet formations talks get complicated with VVD inclusion uncertain - nd

      • Norway:

        • Ministry of Trade, Industry and Fisheries publishes report prepared by Oslo Economics on integration in the whitefish sector (mainly cod, saithe and haddock) - trends, drivers and impacts - Report

      • Switzerland:

        • Negotiators return to table with EU amid post-Trump trade jitters - Reuters

        • SNB's Tschudin vows to anchor inflation firmly within 0-2% band - speech/presentation; Reuters

      • UK:

        • Starmer and Reeves scrap manifesto-breaking income tax hike in pre-budget U-turn - FT

        • OBR projections suggest just £20B hole - Bloomberg

    • Company news:

      • Notable Gainers

        • +29.7% NA9.GR (Nagarro) -- Q3 net income €21.4M vs year-ago €12.7M, reaffirms FY guidance, announces capital reduction and launches new share buyback program of up to €20M

        • +16.3% PPH.LN (PPHE Hotel Group)

          • owners reportedly considering going private - Bloomberg

          • Major shareholders of PPHE Hotel Group respond to media speculation about the consideration of taking the company private

        • +15.0% BC8.GR (Bechtle) -- Q3 EPS €0.45 vs FactSet €0.46 [5 est, €0.44-0.49]; reaffirms FY forecast

        • +9.4% ENR.GR (Siemens Energy) -- Q4 EPS €0.19 vs year-ago (€0.34) , guides FY26, announces targets FY28

        • +5.9% CFR.SW (Richemont) -- buy from hold at Vontobel

        • +4.6% ORK.NO (Orkla) -- Q3 adj EPS NOK1.85 vs FactSet NOK1.65 [4 est, NOK1.60-1.73]; initiates share buyback program of up to NOK 4.0B

        • +4.1% ALO.FP (Alstom) -- H1 adjusted net income €338M vs consensus €270M; raises FY organic sales guidance, reaffirms adj. EBIT margin, FCF

        • +2.0% 1COV.GR (Covestro) -- EU Commission conditionally approves, under the Foreign Subsidies Regulation, ADNOC's acquisition of Covestro

        • +1.3% LUS1.GR (Lang & Schwarz) -- Q3 EPS €1.74 vs year-ago €0.93

        • +1.9% RXL.FP (Rexel) -- overweight from neutral at JPMorgan

        • +1.8% CVC.NA (CVC Capital Partners) -- ; shares reversed initial falls

        • +1.2% ALV.GR (Allianz) -- Q3 core net income €2.86B vs consensus €2.73B; expects to achieve FY25 operating profit of at least €17B

          • On earnings/updates: DFS.LN (DFS Furniture), VK.FP (Vallourec), BWO.NO (BW Offshore) and reversing initial falls CRL.IM (Carel Industries), ACS.SM (ACS), KCR.FH (Konecranes)

      • Notable Decliners

        • -16.7% NYXH.BB (Nyxoah) -- Q3 EPS (€0.63) vs FactSet (€0.59) [6 est, (€0.71)-(0.42)]; secures financing commitments of up to U.S. $77M to drive U.S. commercialization of Genio

        • -12.5% NIBE.B.SS (NIBE Industrier) -- Q3 net income SEK610M vs FactSet SEK730.8M [9 est, SEK648-823M]

        • -12.4% ALMKT.FP (Mauna Kea Technologies) -- completes financial restructuring and €6M capital raise; secures cash runway until H2 of 2027

        • -10.3% PREC.SS (Precise Biometrics) -- Q3 EPS (SEK0.01) vs year-ago SEK0.02

        • -7.6% ANA.SM (Acciona) -- maintains FY25 EBITDA target

        • -7.1% SOON.SW (Sonova Holding) -- H1 EPS CHF3.56 vs FactSet CHF3.93 [5 est, CHF3.60-4.15], reaffirms FY guidance

        • -7.0% GARO.SS (GARO) -- Q3 EPS (SEK0.09) vs FactSet SEK0.07 [1 est]

        • -6.0% BORG.SS (Bjorn Borg) -- Q3 EPS SEK1.47 vs FactSet SEK1.37 [2 est, SEK1.35-1.39]

        • -5.9% ANE.SM (Corporación Acciona Energías Renovables) -- Reaffirms FY EBITDA guidance of €1.50-1.75B vs FactSet €1.63B [7 est, €1.48-1.73B]

        • -5.7% BAVA.DC (Bavarian Nordic) -- Q3 net income DKK1.09B vs year-ago DKK72.5M; FY guidance is further refined and remains within the previously guided revenue and EBITDA intervals

        • -5.6% COL.SM (Inmobiliaria Colonial SOCIMI) Q3 EPS €0.25 vs year-ago €0.26

        • -5.4% SREN.SW (Swiss Re) -- Q3 net income $1.43B vs consensus $1.33B; well positioned to deliver on 2025 net income target of > $4.4B

        • -5.3% LAND.LN (Land Securities Group) -- H1 EPRA EPS 25.8p vs FactSet 26.3p [2 est, 25.5-27.1p]

        • -5.2% MRL.SM (MERLIN Properties SOCIMI) -- 9M FFO €0.44/share vs year-ago €0.41

        • -5.0% KDEV.SS (Karolinska Development) -- Q3 EPS (SEK0.25) vs year-ago (SEK0.04)

        • -4.0% EXAE.GA (Hellenic Exchanges-Athens Stock Exchange) -- Euronext receives regulatory approvals from the Hellenic Capital Market Commission in relation to the contemplated acquisition of a qualifying holding in Hellenic Exchanges

        • -2.8% PLX.FP (Pluxee) -- hold from buy at Deutsche Bank

        • -2.7% BPT.LN (Bridgepoint Group) -- Holders sell ~24.4M shares at 275p/each

        • -2.6% DR0.GR (Deutsche Rohstoff) -- Q3 net income €22M vs year-ago €36.2M; FY revenue and EBITDA expected at the upper end of the forecast range

        • -2.6% SMG.SW (SMG Swiss Marketplace Group) -- acquires Swiss business of immoverkauf24; purchase price not disclosed

        • -2.6% 2HRA.GR (H&R) -- confirms preliminary Q3 earnings

        • -2.4% FILA.IM (FILA - Fabbrica Italiana Lapis ed Affini) -- 9M net income attributable €36.5M ex-items, (16%) vs year-ago €43.5M

        • -2.1% SAB.SM (Banco de Sabadell) -- sector perform from outperform at RBC Capital Markets

        • -2.1% SSE.LN (Scottish and Southern Energy) -- sell from neutral at Citi

        • -2.0% FORTUM.FH (Fortum) -- underweight from equal-weight at Morgan Stanley

        • -1.8% RENE.PL (Redes Energeticas Nacionais) -- 9M adjusted net income €102.9M, +24% vs year-ago €82.9M

        • -1.6% MARR.IM (Marr) -- Q3 net income €17.4M vs FactSet €19.6M [2 est, €18.1-21M]

        • -1.6% POXEL.FP (Poxel) -- Q3 revenue €1.0M vs year-ago €0.9M; reversed initial gains

        • -1.5% IP.IM (Interpump Group) -- Q3 net income attributable €54.7M vs FactSet €52.1M [4 est, €44.8-56.4M]

          • On earnings/updates: RET.BB (Retail Estates), MRO.LN (Melrose Industries), KESKOB.FH (Kesko), ROS.AV (Rosenbauer International), WBD.IM (Webuild), GLE.LN (MJ Gleeson), FNM.IM (FNM) and reversing initial gains TLGO.SM (Talgo), DEQ.GR (Deutsche EuroShop)

    • EU companies reporting Monday:

      • Earnings:

        • DACHs: JDC Group (JDC.GR)

        • Southern Europe: Solaria Energia (SLR.SM), EuroGroup Laminations (EGLA.IM)

        • UK: Big Yellow Group (BYG.LN), Sirius Real Estate (SRE.LN), Polar Capital Holdings (POLR.LN)

      • CMD/Events: Siemens Healthineers (SHL.GR), Informa (INF.LN), Embracer Group (EMBRAC.B.SS) Coffee Stain Group, SUSS MicroTec (SMHN.GR), Solaria Energia (SLR.SM)

  • Data:

    • Economics:

      • Finland Oct CPI (0.2%) y/y vs consensus +0.1%, prior +0.5%

      • Sweden Oct unemployment rate 8.9% vs consensus 8.0%, prior 8.3%

      • Italy Sep trade balance €2.85B vs consensus €3.2B, prior revised €1.88B from €2.05B

      • Oct final CPI

        • France +0.9% y/y vs preliminary +1.0%

        • Spain +3.1% y/y vs preliminary +3.1%

      • Eurozone

        • Q3 GDP +1.4% y/y vs preliminary +1.3%; +0.2% q/q vs preliminary +0.2%

        • Sep trade balance €19.4B vs consensus €8.0B, prior revised €1.9B from €1.0B

    • Markets:

      • WTI Crude (Dec 25): +$1.60 or +2.73% to $60.29

      • €-$ (0.0015) or (0.13%) to 1.1620

      • £-$ (0.0037) or (0.28%) to 1.3156

      • €-£ +0.0014 to 0.8834

      • S&P 500 +0.35%

      • Performance year-to-date:

        • FTSE 100: +18.66%

        • DAX: +19.93%

        • CAC: +10.69%

        • MIB: +28.69%

        • Stoxx 600: +13.24%

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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