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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.19% to 9710.87, DAX +0.79% to 23882.03, CAC40 +0.43% to 8122.03, STOXX 600 +0.45% to 578.84

Dec 04 ,2025

  • Synopsis:

    • European equity markets closed mostly higher Thursday after a largely flat performance in the prior session. DAX outperformed today amid decent gains in automakers. SXAP up 2.3%. Defensives the main laggards. Stoxx Europe 600 on track for weekly gain. US equities mixed in Thursday morning trading as stocks try to extend Wednesday's mostly higher finish. Dollar index little changed after finishing down for a seventh straight session on Wednesday. Gold up 0.3%. Bitcoin futures down 0.2%. WTI crude up 1.1%.

    • Limited fresh catalysts. Market awaits key AI events and FOMC next week. Fed rate cut expectations supportive for sentiment. Japan's 30-year bond auction saw highest demand since 2019, a positive overseas development.

    • Eurozone construction PMI firmed up, but remains in contractionary territory. UK construction downturn acceleration, with pace of contraction fastest since May 2020. BoE DMP survey showed inflation expectations steady, but wage growth still holding up. Swedish inflation came in weaker-than-forecast, supporting the Riksbank's steady policy hand. UK survey showed firms likely to continue to hike prices and cut jobs after budget. Meanwhile, ECB's Cipollone said risks around inflation seem balanced.

    • In the US, initial jobless claims for week to 29-Nov of 191K below 221K consensus and lowest since Sep-22. Continuing claims for week to 22-Nov of 1.939K also below 1.954M consensus, lowest since October. Challenger job cuts for November out today brought layoff announcement this year to 1.1M, highest since 2020.

    • Elsewhere, Commerce Secretary Lutnick anticipating large investment pledge from Taiwan as trade talks continue. NVDA CEO Jensen Huang uncertain whether China will accept H200s if US relaxes export controls following meeting with President Trump.

    • On the corporate front in Europe, short seller Grizzly Research revealed short position in UK-based online review platform Trustpilot (TRST.LN), sending its shares down ~(31%). Philips (PHIA.NA) management reportedly tempered growth expectations and flagged tariff headwinds at a Citi conference. Autos & Parts strongest European sector performer as investors rotated into cyclicals. Bank of America upgrades drove gains in MBG.GR, PAH3.GR, and RNO.FP, supported by attractive valuations, improving product pipelines and easing regulatory pressure. Momentum was reinforced by US policy developments after President Trump proposed loosening fuel economy standards.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Autos & Parts +2.34%, Ind Goods & Svcs +1.35%, Retail +1.12%, Banks +0.96%, Media +0.84%, Basic Resources +0.77%, Technology +0.73%, Energy+0.62%, Insurance +0.56%, Construct & Mtls +0.53%

      • Underperformers:

        • Health Care (0.66%), Travel & Leisure (0.59%), Chemicals (0.40%), Utilities (0.39%), Personal Care Drug and Grocery Stores (0.17%), Real Estate +0.00%, Food, Beverage and Tobacco +0.03%, Telecom +0.43%, Consumer Products and Services +0.48%

    • Macro:

      • Bank of England launches stress test of private equity and private credit industries (Reuters)

      • Russia mocks EU deliberations on frozen assets, says seizure will prompt 'harshest response' (Reuters)

      • UK Opposition Parties Slam Labour Over Delays to Mayoral Votes (Bloomberg)

      • UK businesses cut jobs at fastest pace since 2021 while builders report steep downturn (FT )

      • France's Macron pushes for more investment, trade rebalancing in China visit (France24 )

      • ECB's Cipollone says risks around inflation seem balanced and central scenario seems more and more credible (Nikkei )

    • Company news:

      • Notable gainers

        • +12.8% SYSR.SS (Systemair SEK86.80, +9.80) -- earnings

        • +11.3% SSPG.LN (SSP Group £1.65, +0.17) -- earnings; review of Continental European Rail business; considering options to realise value in line with delivery of TFS free float requirement

        • +9.4% FYB.GR (Formycon €25.50, +2.20) -- licensing deal

        • +9.1% ASAI.LN (ASA International Group £1.98, +0.16) -- trading update

        • +7.9% VAC.FP (Pierre & Vacances €1.66, +0.12) -- earnings

        • +6.9% FUTR.LN (Future Plc £6.42, +0.42) -- earnings; management change

        • +6.1% RNO.FP (Renault €36.86, +2.12) -- BoA ugprade

        • +5.7% PAH3.GR (Porsche Automobil Holding SE €39.65, +2.14) -- BoA ugprade

        • +5.5% EXENS.FP (Exosens €46.50, +2.45) -- extension of commercial agreement

        • +5.4% BOY.LN (Bodycote £6.78, +0.35) -- Barclays upgrade

        • +4.9% PRN.LN (Princes Group £4.76, +0.22) -- Inclusion in FTSE 250 Index

        • +4.4% MBG.GR (Mercedes-Benz Group €60.19, +2.51) -- BoA ugprade

        • +4.3% SOBI.SS (Swedish Orphan Biovitrum SEK342.60, +14.00) -- The New England Journal of Medicine publication

        • +4.0% ALFA.SS (Alfa Laval SEK466.30, +18.10) -- reinstated neutral at JPMorgan

        • +3.8% SCT.LN (Softcat £14.94, +0.55) -- JPMorgan upgrade

        • +3.7% FCT.IM (Fincantieri €17.23, +0.61) -- coopeartion agreement; FTSE MIB Index inclusion

        • +3.7% TRMED.NO (Thor Medical NOK4.25, +0.15) -- supply agreement

        • +3.5% SU.FP (Schneider Electric €237.70, +8.05) -- JPMorgan upgrade

        • +3.4% ATCO.A.SS (Atlas Copco SEK169.20, +5.50) -- Barclays upgrade

        • +3.1% GLE.FP (Societe Generale €62.40, +1.90) -- Goldman Sachs upgrade

        • +2.6% MGN.NO (Magnora NOK20.00, +0.50) -- data center project

        • +2.6% THEON.NA (Theon International €28.15, +0.70) -- extension of commercial agreement

        • +2.5% ENR.GR (Siemens Energy €116.95, +2.80) -- JPMorgan upgrade

        • +2.2% SCATC.NO (Scatec NOK101.30, +2.20) -- SEB upgrade

        • +2.0% STORY.B.SS (Storytel SEK78.25, +1.55) -- initiated buy at SEB

        • +1.5% GFC.FP (Gecina €80.15, +1.15) -- Goldman Sachs upgrade; initiated buy at ING

        • +0.9% BLND.LN (British Land Co. £4.11, +0.04) -- FTSE 100 Inclusion

        • +0.4% BP.LN (BP £4.65, +0.02) -- in advanced talks to sell $8bn Castrol unit to US group Stonepeak - FT

      • Notable Decliners

        • -31.7% TRST.LN (Trustpilot Group £1.30, -0.60) -- Grizzly Research short report cited / Trustpilot Group rejects misleading short seller claims

        • -13.7% BCG.LN (Baltic Classifieds Group £1.86, -0.30) -- earnings

        • -11.9% LEON.SW (Leonteq CHF13.52, -1.82) -- completes transition to FRTB and publishes business update

        • -6.9% AJB.LN (AJ Bell £4.90, -0.36) -- earnings

        • -6.8% CIE.SM (CIE Automotive €28.00, -2.05) -- holder places shares

        • -6.4% ENH.NO (SED Energy Holdings NOK7.94, -0.54) -- holder places shares

        • -5.7% PHIA.NA (Koninklijke Philips €22.73, -1.36) -- reiterates timing of 2026 outlook to be issued on 10-Feb

        • -3.4% PMI.LN (Premier Miton Group £0.56, -0.02) -- earnings; appoints Chair Designate

        • -2.9% VVY.NA (Vivoryon Therapeutics €1.59, -0.05) -- earnings

        • -2.3% FRAS.LN (Frasers Group £7.07, -0.17) -- earnings

        • -2.3% ITM.LN (ITM Power £0.70, -0.02) -- trading update

        • -2.0% QLT.LN (Quilter £1.85, -0.04) -- initiated hold at Kepler Cheuvreux

        • -1.6% DNB.NO (DNB Bank NOK268.50, -4.50) -- Goldman Sachs downgrade

        • -1.2% RI.FP (Pernod Ricard €76.68, -0.94) -- resumed hold at Deutsche Bank

        • -1.0% ZAG.AV (Zumtobel Group €3.47, -0.04) -- earnings

        • -0.3% NDA.SE.SS (Nordea Bank SEK168.75, -0.45) -- Goldman Sachs downgrade

        • -0.2% SWED.A.SS (Swedbank SEK302.80, -0.50) -- Goldman Sachs downgrade

    • EU companies reporting tomorrow:

  • Data:

    • Economics:

      • Sweden Nov preliminary CPI +0.3% y/y vs consensus +0.6% and prior +0.9%

      • Austria Q3 GDP +0.9% y/y vs preliminary +0.1%

      • Switzerland Nov Unemployment Rate (sa) 3.0% vs consensus 3.0% and prior 3.0%

      • Eurozone Oct Retail Sales +1.5% y/y vs consensus +1.4% and prior revised to +1.2% from +1.0%

      • Ireland Q3 GDP (0.3%) q/q vs preliminary (0.1%) and prior revised +0.3% from +0.2%

      • Nov Manufacturing PMI

        • Switzerland 49.7 vs consensus 48.9 and prior 48.2

        • Germany 45.2 vs consensus 44.0 and prior 42.8

        • UK 39.4 vs consensus 44.5 and prior 44.1

      • UK Nov new car registrations (1.6%) to 151,154 units -- SMMT

    • Markets:

      • WTI Crude (Jan 26): +$0.64 or +1.09% to $59.59

      • €-$ (0.0015) or (0.13%) to 1.1657

      • £-$ +0.0000 or +0.00% to 1.3353

      • €-£ (0.0013) to 0.8729

      • S&P 500 (0.04%)

      • Performance year-to-date

        • FTSE 100: +18.82%

        • DAX: +19.96%

        • CAC: +10.04%

        • MIB: +27.30%

        • Stoxx 600: +14.03%

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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