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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.92% to 9774.32, DAX (0.48%) to 23960.59, CAC40 (0.25%) to 8086.05, STOXX 600 +0.00% to 579.79

Dec 17 ,2025

  • Synopsis:

    • European equity markets ended mostly mixed following a positive open. FTSE 100 a notable outperformer. Germany and France weaker. Follows downbeat close on Tuesday. Miners, banks and telco best performers; tech, construction, industrials and autos lag.

    • In political developments, German parliament set to agree more than €50B in military purchases today. Meanwhile, EU discussions on using frozen Russian assets to fund Ukraine continue, with key decisions set for Thursday's leaders' summit. In UK, The Guardian reported that Downing Street says the $40B US-UK Tech Prosperity Deal, currently on hold, has not been permanently shelved.

    • On the macro calendar, final November EZ inflation revised lower ahead of ECB decision. Latest data shows CPI was revised down to 2.1%, with easing labor costs reinforcing the ECB's wait-and-see stance. Softer wages, a stronger euro and lower energy prices point to inflation undershooting target next year, the data show. Earlier, focus on UK inflation easing to lowest level in eight months ahead of Thursday's BoE policy decision, with market expectations for a 25 bp cut. Headline CPI at 3.2% versus consensus 3.5% and prior 3.2%, core at 3.2% versus forecast 3.4% and prior 3.4% and services at 4.4% versus 4.5% expected and prior 4.5%. German Ifo business climate index at 87.6 in December versus consensus 88.2 and prior 88.0 revised from 88.1. Current conditions index unchanged at 85.6, just light of 85.7 forecast. Expectations index in modest setback to 89.7 versus consensus 90.5 and prior 90.5 revised from 90.6. Elsewhere, UK December CBI manufacturing survey came at (32) vs consensus (35) and prior (37). Sees easing in downturn after Tuesday's manufacturing PMI recorded 15-month high.

    • In corporate news, out of the DACHs region, Suedzucker (SZU.GR) reaffirmed guidance for 2026 and provided the first outlook for 2027, whilst IONOS Group (IOS.GR) released an updated forecast for 2025 and issued additional guidance for 2026. Also in DACHs, CECONOMY (CEC.GR) and thyssenkrupp nucera (NCH2.GR) reported FY earnings. In Belgium, Colruyt Group (COLR.BB) released H1 earnings. In the UK, Integrafin Holdings (IHP.LN), Serco Group (SRP.LN), and Bunzl (BNZL.LN) are among others in the region to update investors with their latest numbers.

    • On the M&A news flow, Diageo (DGE.LN) announced that it has entered into an agreement to sell its 100% shareholding in Diageo Kenya Limited, which holds 65.00% of the shares in EABL, to Asahi, including its shareholding in the Kenyan spirits business, UDVK, for an estimated net proceeds after tax and transaction costs of $2.3B.

    • Looking ahead to tomorrow's EU econ-calendar, notable releases will include, amongst others, Eurozone Oct construction output, France Dec business confidence and Switzerland Nov trade balance (monthly watch export data).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers

        • Basic Resources +1.07%, Banks +1.03%, Telecom +0.96%, Food & Beverage +0.73%, Real Estate +0.63%, Insurance +0.50%, Retail +0.44%, Utilities +0.37%, Media +0.31%, Chemicals +0.29%, Travel & Leisure +0.28%, Health Care +0.26%, Financial Svcs +0.19%, Oil & Gas +0.13%

      • Underperformers

        • Technology (1.73%), Construct & Mtls (1.73%), Ind Goods & Svcs (0.88%), Autos & Parts (0.86%), Persnl & HHold Goods (0.03%)

    • Macro:

      • Central banks:

        • ECB December: firm rates and two opposing views on post-2025 inflation projections -- Sole24Ore

        • BOE Case for a Rate Cut Is Looking Strong -- Bloomberg

      • EU:

        • Italy, France say it's 'premature' to sign EU-Mercosur trade deal -- Reuters

        • France, Italy, Poland revolt against Danish budget rebates -- Euractiv

      • UK:

        • Inflation plunge means recession might be around the corner -- Telegraph

        • UK should relax salary requirements for skilled worker visas, advisers say -- FT

        • UK House Price Index for October 2025 -- Gov.UK

        • London property prices fall at fastest pace in nearly 2 years -- FT

      • Germany:

        • German 'car capital' in dire straits as automotive sector crisis intensifies -- BrusselsSignal

      • Italy:

        • Demographics and labour shifts strain Italy's first-pillar pension funds -- IPE

        • Thousands of dinosaur footprints found near Winter Olympics venue in Italy -- Independent

    • Company news:

      • Notable Gainers

        • +20.1% DBV.FP (DBV Technologies €3.70, +0.62) -- preliminary Phase 3 VITESSE study results

        • +7.4% SRP.LN (Serco Group £2.69, +0.19) -- FY pre-close trading update; CFO retires

        • +5.3% IPF.LN (International Personal Finance £2.18, +0.11) -- BasePoint Capital PUSU deadline extended

        • +4.7% IHP.LN (Integrafin Holdings £3.53, +0.16) -- FY earnings

        • +3.8% UMI.BB (Umicore €17.53, +0.64) -- Equita upgrade

        • +3.3% PHNX.LN (Phoenix Group Holdings £7.23, +0.23) -- UBS upgrade

        • +2.8% ENQ.LN (EnQuest £0.10, -0.00) -- Dec operations update

        • +2.7% HSBA.LN (HSBC Holdings £11.42, +0.30) -- Keefe, Bruyette & Woods upgrade

        • +2.5% HBAN.SW (Helvetia Baloise Holding CHF207.20, +5.00) -- initiated buy at Berenberg

        • +2.4% KOG.NO (Kongsberg Gruppen NOK252.50, +5.80) -- €100M+ contract; acquires Zone 5 Technologies LLC

        • +2.1% SPR.LN (Springfield Properties £1.23, +0.03) -- H1 trading update

        • +1.5% GLEN.LN (Glencore £3.81, +0.06) -- Berenberg upgrade

      • Notable Decliners

        • -16.3% HNSA.SS (Hansa Biopharma SEK27.86, -5.44) -- update on Pivotal Phase 3 trial in anti-glomerular basement membrane disease

        • -7.6% CCT.LN (Character Group £2.43, -0.20) -- FY earnings

        • -6.8% REJL.B.SS (Rejlers SEK185.00, -13.40) -- Handelsbanken downgrade

        • -6.0% SZU.GR (Suedzucker €9.12, -0.57) -- FY2026/27 guidance

        • -4.9% ENH.NO (SED Energy Holdings NOK7.82, -0.40) -- holder Energy Ventures IV LP sells 18.7M A-shares

        • -3.4% COLR.BB (Colruyt Group €31.72, -1.10) -- H1 earnings

        • -2.8% NAS.NO (Norwegian Air Shuttle NOK17.48, -0.50) -- Pareto downgrade

        • -2.0% BNZL.LN (Bunzl £21.72, -0.44) -- FY trading statement

        • -1.9% VCP.LN (Victoria £0.36, -0.01) -- H1 earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: EVN (EVN.AV), Douglas (DOU.GR), Bertrandt (BDT.GR)

        • France: EXEL Industries (EXE.FP)

        • Nordics: SkiStar (SKIS.B.SS), Biovica International (BIOVIC.B.SS), Harboes Bryggeri (HARB.B.DC), Roblon (RBLN.B.DC)

        • Southern Europe: SeSa (SES.IM)

        • UK: Currys (CURY.LN), FRP Advisory Group (FRP.LN)

  • Data:

    • Economics:

      • UK Dec CBI Industrial Trends Orders (32) vs consensus (35) and prior (37)

      • Eurozone Nov CPI +2.1% y/y vs preliminary +2.2%

      • UK November

        • CPI y/y +3.2% vs consensus +3.5% and prior revised to +3.6% from +3.6%

        • Output PPI y/y +3.4% vs consensus +3.5% and prior +3.6%

      • Germany December IFO

        • Business Climate 87.6 vs consensus 88.2 and prior revised to 88.0 from 88.1

        • Current Conditions 85.6 vs consensus 85.7 and prior 85.6

        • Expectations 89.7 vs consensus 90.5 and prior revised 90.5 from 90.6

      • Austria Nov CPI +4.0% y/y vs preliminary +4.1%

    • Markets:

      • WTI Crude (26-Jan): +$0.88 or +1.59% to $56.15

      • €-$ +0.0005 or +0.04% to 1.1754

      • £-$ (0.0032) or (0.24%) to 1.3390

      • €-£ +0.0025 to 0.8777

      • S&P 500 (0.80%)

      • Performance year-to-date:

        • FTSE 100: +19.59%

        • DAX: +20.35%

        • CAC: +9.56%

        • MIB: +29.00%

        • Stoxx 600: +14.22%

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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