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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.23%) to 9645.09, DAX +0.07% to 24046.01, CAC40 (0.08%) to 8108.43, STOXX 600 (0.07%) to 578.36

Dec 08 ,2025

  • Synopsis:

    • European equity markets closed mixed Monday with gainers including Switzerland +0.4%, Spain +0.1%, Germany +0.1% and Norway +0.5%, whilst decliners included Denmark (1.4%), UK (0.2%), Sweden (0.1%) and France (0.1%). Gold down (0.4%). WTI crude down (1.5%). In US markets, S&P 500 continues to sit just below its 28-Oct record close.

    • Focus on global trade as US and Chinese officials held trade talks over weekend with USTR Greer saying Beijing complying with terms of trade agreement. US trade officials now head to India for talks this week. French President Macron threatened tariffs against China over EU trade imbalance.

    • On geopolitical front, China-Japan tensions festering after China fighter jet locked radar at Japanese aircraft. Thailand launched airstrikes against Cambodia after two sides accused other of violating Trump-brokered ceasefire.

    • Market pricing ~87% chance of 25 bp cut at Wednesday's December FOMC meeting. However, previews noted potential for hawkish cut with Fed likely to tweak forward guidance in a more hawkish direction, possibly suggesting the bar for rate cuts may be higher. SEP could show upticks in both unemployment rate and GDP forecasts with core PCE marked down, while Powell comments under scrutiny for what it would take to pause in January.

    • ECB Executive Board member Schnabel expressed comfort with investors betting that next move will be a rate increase. Follows recent ECB remarks supporting ongoing wait-and-stance and firmer-than-expected inflation data.

    • Quiet start to the week for European macro data. Latest Sentix investor confidence update showed a stabilization in Eurozone sentiment. Overall index rose slightly to -6.2 versus consensus -6.2 and prior -7.4, while current situation index recorded -16.5 versus -17.5 and expectations index registered 4.8 from 3.3. Sentix highlighted that Eurozone economy remains in a phase of stagnation, but improvement in the expectations index and current situation index point to stabilization. German industrial production recorded a solid 1.8% m/m increase in October, ahead of forecast for 0.3% gain after adding 1.1% in September revised down from 1.3%. The better outturn was due to solid performance in construction, machinery and electronics production, though output in the auto sector fell (Bloomberg). Follows Friday's 1.5% increase in factory orders data amid an 87% surge in transport orders. It is the first time since early 2024 that production has increased for two consecutive months. There are thoughts that the better data aligns with expectations for an improvement in the overall economy in Q4. German industrial production came in ahead of expectations amid strength mechanical engineering industry and construction. UK labor market slowed rapidly into the budget based on the latest updates from KPMG/Rec and BDO. The monthly jobs report from KPMG/REC indicated a further downturn with permanent placements falling again and a modest fall in temp billings. it linked the weakness to the high degree of uncertainty into the November budget, along with high employment costs hampering hiring. In addition, demand for staff dropped again with the fall in vacancies extending the trend that has stretched out for over two years. Meanwhile, the BDO Employment Index recorded its lowest level in 14 years due to slump in the services sectors, which it blamed on subdued consumer confidence and elevated inflation hitting activity (Telegraph). Despite the weak demand for staff, the KPMG/REC update highlighted that permanent salary inflation moved up to the highest in five months due to competition for skilled labor. KPMG/REC said January will be key for the employment market going forward. Noted some signs of stabilization, including improvement in pay rates for new jobs.

    • The BoE is widely expected to cut by 25bps on 18-Dec. Analysts at HSBC see a 5-4 vote to cut, with Governor Andrew Bailey switching his vote from November. Deutsche Bank notes the main highlight this week from a BoE perspective is the November MPR TSC hearing (details of agenda here).

    • In M&A news, Ageas (AGS.BB) purchased BNP Paribas Fortis' 25% stake in AG Insurance for a total amount of €1.9B, whilst EQT agreed to sell 24M shares in Galderma Group (GALD.SW) to L'Oreal (OR.FP); other deals included AB InBev (ABI.BB) acquired 85% stake in BeatBox for up to $490M and EXOR (EXO.NA)~-owned Gedi Gruppo Editoriale is in talks with Antenna Group over potential sale of editorial assets. Also, Worthington Steel confirmed it is in negotiations with Kloeckner (KCO.GR) for a potential takeover.

    • In sector performance, Industrial Goods & Services outperformed as Rheinmetall (RHM.GR) up on new Bundeswehr order for tank ammunition worth several hundred million euros, Rolls-Royce (RR.LN) higher on major order for >300 Leopard 2 engines and Renk Group (R3NK.GR) stronger on Citi rating upgrade. Atlas Copco (ATCOA.SS) higher on acquisition in Brazil plus MS rating upgrade. Schindler (SCHP.SW) also helped by MS upgrade.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Ind Goods & Svcs +0.59%, Banks +0.49%, Insurance +0.46%, Technology +0.24%, Construct & Mtls +0.10%, Utilities +0.07%, Financial Svcs (0.01%)

      • Underperformers:

        • Real Estate (1.68%), Consumer Products and Services (1.41%), Chemicals (1.29%), Retail (1.26%), Personal Care Drug and Grocery Stores (1.05%), Media (1.04%), Food, Beverage and Tobacco (0.97%), Autos & Parts (0.91%), Telecom (0.67%), Basic Resources (0.34%), Energy(0.30%), Health Care (0.17%)

    • Macro:

      • Japan earthquake: Tsunami warning after huge quake - with 'hazardous' waves expected to hit Japan and Russia (Sky News )

      • Bank of England Plans Staffing Cuts Because of Budget Pressures (Bloomberg)

      • Brussels delays 'made in Europe' plan after backlash (FT )

      • ECB's Schnabel 'Comfortable' on Bets Next Move Will Be Hike (Bloomberg)

      • Ireland: Improving Ireland's homebuying process; in 2025 close to 40% of transactions were settled by 10% or more above asking - myhome.ie report

      • Labour group that backed Starmer canvasses party on leadership candidates (London Times )

      • A minority coalition of D66, VVD and CDA looms for the Dutch (DutchNews )

    • Company news:

      • Notable Gainers

        • +31.0% THRU.LN (Thruvision Group £0.01, -0.00) -- receives a notice of intent to award for its' people-screening solution for a large Pacific Northwest airport in the USA

        • +28.8% KCO.GR (Kloeckner & Co. €7.86, +1.75) -- Worthington Steel confirms it is in negotiations with company for a potential takeover

        • +6.7% KNOS.LN (Kainos Group £11.58, +0.73) -- BofA upgrade

        • +6.0% NWRN.SW (Newron Pharmaceuticals CHF19.20, +1.10) -- study update

        • +5.6% SZG.GR (Salzgitter €39.88, +2.12) -- UBS upgrade

        • +5.2% WAWI.NO (Wallenius Wilhelmsen NOK100.70, +5.00) -- contract

        • +5.2% SHOT.SS (Scandic Hotels Group SEK91.90, +4.55) -- UBS upgrade

        • +5.0% CRH.LN (CRH plc £94.88, +4.52) -- set to join S&P 500 in 22-Dec re-balance

        • +4.6% BAYN.GR (Bayer AG €34.85, +1.54) -- JPMorgan upgrade

        • +4.4% BMPS.IM (Banca Monte dei Paschi di Siena €7.93, +0.33) -- Consob found no evidence of collusion between BMPS, holders in Mediobanca pursuit - Il Sole 24 Ore

        • +3.8% RHM.GR (Rheinmetall €1,580.50, +57.50) -- order

        • +3.6% MVIR.SS (Medivir SEK0.38, +0.01) -- CFO to step down

        • +3.5% EMBRAC.B.SS (Embracer Group SEK60.02, +2.05) -- Coffee Stain Group publishes company description in connection with listing of its class B shares on Nasdaq First North Premier Growth Market

        • +3.2% MER.LN (Mears Group £3.67, +0.12) -- trading update

        • +3.1% EYE.LN (Eagle Eye Solutions Group £3.00, +0.09) -- contract

        • +2.3% INWI.SS (Inwido SEK149.60, +3.30) -- Dagens Industri out with buy recommendation

        • +1.9% PRU.LN (Prudential £10.95, +0.21) -- ICICI Prudential Asset Management IPO price band set at INR2,061-2,165/share

        • +1.6% PRTC.LN (PureTech Health £1.24, +0.02) -- announces successful end-of-phase 2 meeting with FDA for Deupirfenidone

        • +1.6% TKA.GR (ThyssenKrupp €9.54, +0.15) -- earnings due tomorrow

        • +1.4% MB.IM (Mediobanca €16.49, +0.23) -- Banca Monte dei Paschi di Siena board unanimously renews full trust in CEO Luigi Locaglio; working groups of Mediobanca merger process continue at full speed

        • +1.4% KBX.GR (Knorr-Bremse €91.65, +1.25) -- Morgan Stanley upgrade; Deutsche Bank upgrade

        • +1.0% BINV.SS (BioInvent International SEK29.40, +0.30) -- to present data on BI-1808 at ASH Annual Meeting

        • +1.0% IQE.LN (IQE £0.05, -0.00) -- signs multi-year extension to its strategic agreement with Lumentum Holdings

        • +0.8% AGS.BB (Ageas €57.40, +0.45) -- to take full ownership of AG Insurance and formalise long term partnership with BNP Paribas

        • +0.2% ONCIN.NO (BerGenBio NOK0.58, -0.00) -- study update

      • Notable Decliners

        • -8.4% STAB1L.GR (Stabilus €18.88, -1.73) -- FY earnings

        • -6.3% HBH.GR (Hornbach Holding €83.40, -5.60) -- prelim Q3 earnings

        • -5.6% SF.SS (Stillfront Group SEK6.07, -0.36) -- new CFO to start today

        • -5.2% CRNA.NO (Circio Holding NOK1.20, -0.07) -- announces 88% underwritten and presubscribed NOK 50M rights issue

        • -5.0% G1A.GR (GEA Group €54.40, -2.90) -- Morgan Stanley downgrade

        • -4.4% OSE.FP (OSE Immunotherapeutics €4.77, -0.22) -- announces strategic amendment to AbbVie's partnership on ABBV-230 development

        • -3.6% ROR.LN (Rotork £3.29, -0.12) -- Morgan Stanley downgrade

        • -3.4% METSB.FH (Metsa Board €2.87, -0.10) -- change negotiations have concluded in all operating countries

        • -2.2% SYDB.DC (Sydbank DKK566.00, -13.00) -- ABG Sundal Collier downgrade

        • -2.1% OR.FP (L'Oreal €364.30, -7.80) -- EQT agrees to sell c. 24M shares in Galderma Group AG to company

        • -1.9% ULVR.LN (Unilever £41.56, -0.82) -- completes demerger of its ice cream business, now known as The Magnum Ice Cream Company

        • -1.4% IBAB.BB (Ion Beam Applications €11.26, -0.16) -- contract

        • -1.1% WIZZ.LN (Wizz Air Holdings £11.00, -0.12) -- BNP Paribas Exane downgrade

        • -0.8% ALCLS.FP (Cellectis SA €4.01, -0.04) -- study update

        • -0.3% SYSR.SS (Systemair SEK86.30, -0.30) -- Nordea upgrade

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: ThyssenKrupp (TKA.GR)

        • France: MedinCell (MEDCL.FP)

        • Nordics: Rusta (RUSTA.SS)

        • UK: Ashtead Group (AHT.LN), Chemring Group (CHG.LN), Moonpig Group (MOON.LN), Begbies Traynor Group (BEG.LN), Naked Wines (WINE.LN), Oxford Metrics (OMG.LN)

      • Trading Update:

        • France: Groupe Partouche (PARP.FP)

        • UK: British American Tobacco (BATS.LN)

      • CMD/Events: Siemens (SIE.GR), Anglo American (AAL.LN) and Teck Resources merger call

      • Other: UK Worldpanel by Numerator (formerly Kantar's Worldpanel division) grocery market share figures

  • Data:

    • Economics:

      • Germany Oct industrial production +1.8% m/m vs consensus +0.2%, prior revised +1.1% from +1.3%

      • Denmark Oct manufacturing production (3.5%) m/m vs consensus (4.3%), prior revised +8.6% from +8.0%

      • Switzerland Nov consumer sentiment (33.8) vs consensus (34.0), prior (36.9) - SECO

      • Eurozone Dec investor confidence (6.2) vs consensus (6.2), prior (7.4) - Sentix

    • Markets:

      • WTI Crude (Jan 26): ($0.96) or (1.60%) to $59.12

      • €-$ (0.0017) or (0.15%) to 1.1625

      • £-$ (0.0004) or (0.03%) to 1.3319

      • €-£ (0.0008) to 0.8729

      • S&P 500 (0.32%)

      • Performance year-to-date

        • FTSE 100: +18.01%

        • DAX: +20.78%

        • CAC: +9.86%

        • MIB: +26.94%

        • Stoxx 600: +13.94%

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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