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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.27% to 9720.51, DAX +0.29% to 23836.79, CAC40 +0.29% to 8122.71, STOXX 600 +0.25% to 576.43

Nov 28 ,2025

  • Synopsis:

    • European equity markets ended in positive territory Friday. Basic resources, media and energy the best performers. Travel/leisure, food/beverage and healthcare the biggest laggards. Follows firmer levels on Thursday.

    • European narrative has been generally supportive. Focus on forward-looking indicators, fading currency headwinds and diminishing tariff impact. Some positive headlines on Ukraine war, though some skepticism it will lead to breakthrough on ceasefire agreement.

    • Latest in politics, negotiations for the UK to join the €140B EU defence fund have fallen apart after London refused to pay the multi-billion-euro contributions. Meanwhile, Belgium PM De Wever blocked EU plans to deploy €140B in frozen Russian assets for Ukraine, citing peace deal risks, media report. To note, Belgium holds most frozen Russian assets at Brussels-based Euroclear and fears legal liability if arrangement falters.

    • On a busy macro calendar, Germany's retail sector contracted in Oct, with adjusted sales falling (0.3%) m/m in real terms, according to new government data. Labor market remained stable as Nov. unemployment change smaller than expected +1K vs consensus +5K. Final French Q3 GDP confirmed at 0.5% q/q, Italy revised upwards +0.1% q/q vs consensus +0.0%. Latest monthly inflation also out: German figures came in unexpectedly high, French and Italy CPI unchanged while Spanish update eases. In the UK, think tanks weigh in on budget. Analysis warns of further fiscal pressures. Lloyds business barometer fell eight points in November. Also, Property portal Zoopla said it expects the UK housing market to recover next year after activity stagnated ahead of the budget. Annual house prices gained 1.3% y/y in November, but prices in southern England fell for the first time in 18 months by ~(0.1%).

    • On M&A newsflow, ASICS Corp clarified that there is no truth in media reports suggesting its interest in acquisition of Puma (PUM.GR), whilst Canada granted national-security approval for Anglo American (AAL.LN) purchase of Teck; in France, Forvia (FRVIA.FP) has engaged certain processes to sell parts of its robust portfolio, which includes assets of its Interiors business group and SMCP (SMCP.FP) was informed of the initiation of a process to sell shares representing up to 51.2% of its share capital; in Italy, CTP (CTPNV.NA) announced the acquisition of Italy's VLD S.r.l. for €241M.

    • In other corporate developments, Monte dei Paschi di Siena (BMPS.IM) issued a response to press reports published yesterday, also announcing that it has received notification from the Milan Public Prosecutor's Office of a search warrant regarding the sale of its shares to Delfin and Caltagirone; in Germany, Delivery Hero (DHER.GR) is reportedly under pressure from several large shareholders asking the company to begin a strategic review.

    • Looking ahead to next week EU econ-calendar, notable releases out on Monday will include, amongst others, Italy, Norway, Spain, Sweden, Switzerland Nov manufacturing PMI with final reads for Eurozone, France, Germany and UK, UK Oct mortgage approvals, M4 money supply and Switzerland Oct retail sales.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +1.19%, Media +0.86%, Oil & Gas +0.84%, Chemicals +0.65%, Technology +0.57%, Persnl & HHold Goods +0.54%, Construct & Mtls +0.42%, Ind Goods & Svcs +0.29%, Autos & Parts +0.29%

      • Underperformers:

        • Travel & Leisure (1.07%), Food & Beverage (0.14%), Health Care (0.08%), Insurance +0.04%, Banks +0.05%, Real Estate +0.08%, Telecom +0.09%, Retail +0.17%, Utilities +0.21%, Financial Svcs +0.21%

    • Macro:

      • Central banks:

        • Euro zone growth, inflation on benign path, keeping rate cut bets muted -- Reuters

        • Hedge Funds Warn BOE Repo Reforms Will Harm Appeal of Gilts -- Bloomberg

      • EU

        • Germany to urge EU to soften 2035 ban on sale of new petrol and diesel cars

      • UK:

        • Talks for UK to join EU defence fund collapse in blow to Starmer's bid to reset relations -- Guardian

        • Reeves accused of lying to justify tax raid -- Telegraph

        • Labour has trapped the British economy in a web of 'doublespeak' -- FT

      • Germany:

        • German inflation rises more than expected; labour market, retail sales weak -- Reuters

        • Germany's coalition staves off crisis with deals on pensions, combustion engine ban -- Politico

      • France:

        • Macron Brings Army Fatigues Out for the Young -- Bloomberg

      • Italy:

        • Italy Eked Out Some Economic Growth in Q3 -- Bloomberg

    • Company news:

      • Notable Gainers

        • +20.6% TC1.GR (Tele Columbus €0.79, +0.13) -- ~97.67% holder Kublai to implement a squeeze-out

        • +14.6% DHER.GR (Delivery Hero €18.65, +2.56) -- Delivery Hero under pressure from several large shareholders to conduct strategic review - Bloomberg

        • +12.7% MAB.LN (Mitchells & Butlers £2.82, +0.33) -- FY earnings

        • +9.1% DESN1.SW (Dottikon ES Holding CHF361.00, +29.50) -- H1 earnings

        • +6.3% PROX.BB (Proximus €7.22, +0.44) -- JPMorgan upgrade

        • +5.8% IXX.GR (init innovation in traffic systems €47.00, +2.60) -- initiated buy at Berenberg

        • +5.1% SWON.SW (SoftwareONE Holding CHF9.25, +0.43) -- initiated buy at Berenberg

        • +4.0% PDX.SS (Paradox Interactive SEK183.00, +7.00) -- Danske Bank upgrade

        • +3.0% EZJ.LN (EasyJet £4.97, +0.14) -- Bernstein upgrade

        • +2.7% MAIRE.IM (MAIRE €12.77, +0.33) -- EuroChem NW2 and EuroChem Group AG litigation update

        • +2.4% TREL.B.SS (Trelleborg SEK396.50, +9.40) -- initiated buy at Goldman Sachs

        • +2.1% MOWI.NO (Mowi NOK230.80, +4.80) -- Berenberg upgrade

      • Notable Decliners

        • -11.5% WTB.LN (Whitbread £26.29, -3.22) -- Bernstein downgrade

        • -2.9% BRBY.LN (Burberry Group £11.46, -0.34) -- JPMorgan downgrade

        • -2.7% KOMN.SW (Komax Holding CHF58.50, -1.70) -- UBS downgrade

        • -2.4% JMT.PL (Jeronimo Martins €20.52, -0.50) -- Santander downgrade

        • -2.3% IMCD.NA (IMCD €77.40, -1.78) -- JPMorgan downgrade

        • -1.7% WCH.GR (Wacker Chemie €65.65, -1.15) -- JPMorgan downgrade

    • EU companies reporting tomorrow:

      • Earnings:

        • Nordics: Hafnia (HAFNI.NO)

        • UK: Peel Hunt (PEEL.LN), Solid State (SOLI.LN), Eco Animal Health Group (EAH.LN)

  • Data:

    • Economics:

      • Germany

        • Nov

          • Preliminary CPI +2.3% y/y vs consensus +2.4% and prior +2.3%

          • Unemployment Change 1K vs consensus +5K and prior (1K)

          • Unemployment Rate 6.3% vs consensus 6.3% and prior 6.3%

        • Oct

          • Retail Sales +0.9% y/y vs prior revised +0.8% from +0.2%

      • Italy

        • Q3 final GDP +0.6% y/y vs consensus +0.4% and prior +0.4%

        • Nov Preliminary CPI +1.2% y/y vs prior +1.2%

      • Switzerland

        • Q3 final GDP (0.5%) q/q vs consensus (0.4%) and prior revised +0.2% from +0.1%

        • Nov KOF Leading Indicators 101.7 vs consensus 101.5 and prior revised 101.5 from 101.3

      • Spain

        • Nov Preliminary CPI +3.0% y/y vs consensus +2.9% and prior +3.1%

        • Oct Retail Sales +3.8% y/y vs prior revised +4.1% from +4.2%

      • France

        • Q3 final GDP +0.9% y/y vs consensus +0.9% and prior revised +0.7%

        • Nov Preliminary CPI +0.9% y/y vs consensus +1.0% and prior +0.9%

        • Oct PPI (1.2%) y/y vs prior +0.1%

        • Oct Consumer Spending +0.4% m/m vs consensus +0.3% and prior +0.3%

      • Sweden Q3 final GDP +2.6% y/y vs consensus +1.7% and prior revised +1.9% from +1.3%

      • Norway Oct Retail Sales +0.1% m/m vs prior (0.5%)

      • Denmark Oct Unemployment Rate 2.6% vs prior 2.6%

    • Markets:

      • WTI Crude (26-Jan): +$0.76 or +1.30% to $59.41

      • €-$ +0.0006 or +0.05% to 1.1603

      • £-$ +0.0003 or +0.02% to 1.3244

      • €-£ +0.0004 to 0.8762

      • S&P 500 +0.41%

      • Performance year-to-date:

        • FTSE 100: +18.93%

        • DAX: +19.73%

        • CAC: +10.05%

        • MIB: +26.83%

        • Stoxx 600: +13.56%

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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