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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.54% to 10004.57, DAX +1.34% to 24868.69, CAC40 +0.20% to 8211.50, STOXX 600 +0.94% to 601.76

Jan 05 ,2026

  • Synopsis:

    • European equity markets finished higher. Fresh record high for Stoxx 600, German DAX, Italy's MIB and Spain's IBEX. DAX outperforming on strength in defense-related stocks. Technology also performing well and basic resources. Asian equity markets mostly higher overnight. US equity markets higher in Monday midday trading. Energy the big sector gainer on Venezuela headlines and possibility for large infrastructure investments. Treasuries firmer with a bit of curve steepening; yields down 1-3 bp. Dollar index flat. Gold up 3%, near best levels. Silver up 8.4%; copper up 4.4%. Bitcoin futures up 4.7%, above $94K. WTI crude up 1.8%, near best levels after an initially muted reaction to the US intervention in Venezuela.

    • Geopolitics in focus after US capture of Venezuela President Maduro over the weekend. Focus on European oil companies that operate in the country. Gold benefiting from developments. Potential systematic moves largely revolve around crude oil, though predictions mixed. Longer term price outlook seems skewed to downside amid prospects for relaxation of US embargo to release pent-up inventories to the market, production normalizes, and US commences investment in infrastructure to unlock Venezuela reserves estimated to be the largest in the world. Uncertainties led OPEC+ to stick with plan to pause supply increases in Q1.

    • Quiet start to the week for European macro calendar. BCC survey shows drop in UK business confidence. BoE mortgage approval eased late 2025. Euro area inflation updates due for release on Tuesday and Wednesday, though unlikely to shift ECB out of its extended pause in monetary policy.

    • In other developments, press reports highlight candidates from eastern European central bank pushing to succeed ECB Vice President de Guindos. Meanwhile, UK PM Starmer said should seek closer alignment with EU single market on an issue-by-issue basis. Economists said unemployment may hit an eleven-year high and 2026 and warned taxes will likely need to rise again before next election due to weak growth.

    • On a light reporting front, Ryanair Holdings (RYA.ID), Wizz Air Holdings (WIZZ.LN) reported Dec passengers numbers whilst - in France - Air Liquide (AI.FP) and Alstom (ALO.FP) released their pre-FY 2025 and Q3 previews, respectively. In healthcare, Idorsia's (IDIA.SW) JERAYGO secures Health Canada approval as first and only endothelin receptor antagonist (ERA) for the treatment of resistant hypertension; BioInvent International (BINV.SS) reports encouraging interim results from its ongoing Phase 2a signal-seeking study evaluating BI-1808 in combination with KEYTRUDA in recurrent ovarian cancer. Sanofi's (SAN.FP) Tzield accepted for priority review in the US for young children with stage 2 type 1 diabetes while Sanofi KK to transfer Japan sales of Jevtana to Otsuka Holdings's Taiho Pharmaceutical, effective 1-Apr. Further in M&A, ATG (ATG.LN) announced it had received eleven separate proposals from FitzWalter, ATG's largest shareholder, since Sep-25 for the entire issued and to be issued share capital of ATG not already owned by FitzWalter; board has rejected all offers. Next (NXT.LN) is reportedly considering a bid for LK Bennett's brand/IP (not its stores) after LK Bennett filed a notice of intention to appoint administrators; also in the press, Bridgepoint Group (BPT.LN) to acquire controlling stake in Interpath Advisory in deal valued at over £800M.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Technology +3.75%, Ind Goods & Svcs +2.61%, Financial Svcs +2.38%, Basic Resources +2.28%, Media +1.52%

      • Underperformers:

        • Food & Beverage (1.43%), Autos & Parts (1.34%), Chemicals (0.50%), Persnl & HHold Goods (0.46%), Telecom (0.22%), Health Care (0.14%), Retail +0.03%, Utilities +0.16%, Travel & Leisure +0.37%, Insurance +0.43%, Construct & Mtls +0.54%, Real Estate +0.56%, Oil & Gas +0.81%, Banks +0.84%

    • Macro:

      • Geopolitics:

        • Denmark warns Trump top stop Greenland threats in wake of Venezuela (Bloomberg, FT)

        • Witkoff, Kushner to represent US at Ukraine talks, says White House (Reuters )

      • ECB

        • Eastern Europe Makes New Push for ECB Influence (Bloomberg )

      • UK:

        • Economists predict taxes will need to rise again before next election (FT)

        • Economists say UK unemployment may reach 11-year high in 2026 (FT)

        • UK PM Starmer says ready for closer EU alignment in national interest (BBC)

        • Starmer says ousting him in 2026 would send Britain into chaos (Bloomberg)

      • France:

        • French far right courts business leaders as it prepares for power (FT)

        • France to ban food imports containing EU-prohibited pesticides (Bloomberg)

        • Ten convicted for cyber-bullying France's Brigitte Macron (Reuters )

    • Peripheral markets:

      • Italy:

        • Italy plans to back Mercosur trade agreement: Bloomberg

      • Other:

        • Baltic countries on alert after series of suspicious undersea cable outages: FT

        • Latvia finds no link between ship and Baltic cable breach, probe goes on (Reuters )

    • Company news:

      • Notable Gainers

        • +24.1% ATG.LN (Auction Technology Group £3.35, +0.65) -- has rejected a total of eleven unsolicited, highly conditional proposals received from FitzWalter

        • +14.9% EXA.FP (Exail Technologies €97.80, +12.70) -- ~€40M order

        • +12.0% ALCOX.FP (Nicox €0.35, +0.04) -- financing update

        • +9.4% RHM.GR (Rheinmetall €1,752.00, +150.00) -- sector move; several hundred million euro worth order

        • +8.3% ERF.FP (Eurofins Scientific €67.14, +5.14) -- BNP Paribas Exane upgrade

        • +7.5% COTN.SW (COMET Holding CHF241.80, +16.80) -- Vontobel upgrade

        • +6.8% ASML.NA (ASML Holding €1,053.20, +66.90) -- Bernstein upgrade

        • +5.4% CNE.LN (Capricorn Energy £1.95, +0.10) -- FY trading update: working interest production averaged 20,175 boepd in 2025, above the production guidance midpoint of 19,000 boepd

        • +5.4% JMAT.LN (Johnson Matthey £23.02, +1.18) -- Berenberg upgrade

        • +4.6% ALO.FP (Alstom €26.87, +1.18) -- Q3 results preview; three contracts for total value of ~€2.5B

        • +3.7% BPE.IM (BPER Banca €12.20, +0.43) -- initiated overweight at Morgan Stanley

        • +3.7% SNR.LN (Senior £2.10, +0.08) -- to start £40M share buyback programme in March

        • +3.4% BPT.LN (Bridgepoint Group £2.89, +0.10) -- to acquire controlling stake in Interpath Advisory in deal valued at over £800M - Sky News

        • +2.4% SGSN.SW (SGS CHF93.00, +2.14) -- acquires Panacea Infosec; terms undisclosed

        • +2.3% HIAB.FH (Hiab €50.70, +1.16) -- completes acquisition of ING Cranes

        • +2.1% AIR.FP (Airbus SE €208.00, +4.30) -- Airbus exceeds revised 2025 goal with 793 deliveries - Bloomberg

        • +2.0% BINV.SS (BioInvent International SEK29.95, +0.60) -- interim study results for BI-1808 + KEYTRUDA in recurrent ovarian cancer

        • +1.5% WIZZ.LN (Wizz Air Holdings £13.23, +0.19) -- Dec traffic +15.5% y/y

        • +1.0% IPCO.SS (International Petroleum Corp SEK169.90, +1.70) -- commences first steam injection at Blackrod Phase 1 project in Canada

        • +0.9% RYA.ID (Ryanair Holdings €29.97, +0.27) -- Dec passengers 14.5M, +7% y/y

        • +0.4% NXT.LN (Next £135.90, +0.55) -- reportedly considering bid for certain LK Bennett assets -- Sky News

      • Notable Decliners

        • -14.5% ACSO.LN (accesso Technology Group £2.78, -0.47) -- FY Trading Update: expects FY outturn in line with expectations

        • -6.9% MTRS.SS (Munters Group SEK180.00, -13.30) -- DNB Carnegie downgrade

        • -6.6% EQS.FP (Equasens Group €41.90, -2.95) -- acquires 80% controlling interest in Erevo; price undisclosed

        • -5.6% ARGX.BB (argenx €683.60, -40.20) -- Chairman to retire

        • -4.6% IDIA.SW (Idorsia CHF4.06, -0.20) -- JERAYGO approved in Canada for the treatment of resistant hypertension

        • -2.8% IWS.NO (Integrated Wind Solutions NOK51.50, -1.51) -- majority owned subsidiary ProCon Group completes an all-share merger with Hyndla AS

        • -2.7% BOOT.LN (Henry Boot £2.16, -0.06) -- completes sale of Henry Boot Construction Limited

        • -2.6% PNDORA.DC (Pandora DKK677.20, -18.40) -- DNB Carnegie downgrade

        • -2.4% BNJ.NA (Banijay Group €8.30, -0.20) -- completes sale of 53.9% stake in bet-at-home AG

        • -2.3% IBST.LN (Ibstock £1.38, -0.03) -- Deutsche Numis downgrade

        • -2.0% SGO.FP (Compagnie de Saint-Gobain €85.24, -1.78) -- to acquire a majority stake in Indocement's mortars business in Indonesia for an undisclosed sum

        • -1.3% AI.FP (Air Liquide €157.00, -2.00) -- releases pre-FY 2025 results communication; considerations to assist in the financial modeling

        • -1.1% BONAV.B.SS (Bonava SEK10.86, -0.12) -- summarises 2025's investor transactions at ~ SEK2B, +11% y/y

        • -1.1% LI.FP (Klepierre €32.94, -0.36) -- Klépierre acquires Casamassima mall

        • -1.1% OCI.LN (Oakley Capital Investments £5.60, -0.06) -- Oakley Capital confirms £55M investment in provider of loan administration and bond trustee services GLAS

    • EU companies reporting tomorrow:

      • Trading Update:

        • DACHs: GRENKE (GLJ.GR), flatexDEGIRO (FTK.GR), Jungfraubahn Holding (JFN.SW)

        • France: Pluxee (PLX.FP), Hoffmann Green Cement Technologies (ALHGR.FP)

        • UK: Topps Tiles (TPT.LN)

      • Sales: Avanza Bank Holding (AZA.SS)

      • Traffic: Norwegian Air Shuttle (NAS.NO)

      • CMD/Events: Ambu (AMBU.B.DC) virtual pre close meeting at 14:00CET hosted by DNB Carnegie

  • Data:

    • Economics:

      • UK Nov

        • M4 Money Supply +0.8% m/m vs consensus (0.1%) and prior (0.2%)

        • Mortgage Approvals 64.53K vs consensus 64.0K and prior revised 65.01K from 65.02K

      • Switzerland

        • Dec Manufacturing PMI 45.8 vs consensus 49.9 and prior 49.7

        • Nov Retail Sales +2.3% y/y vs consensus +2.5% and prior revised +2.2% from +2.7%

      • Spain Dec Unemployment Change (16.3K) vs consensus +5.7K and prior (18.8K)

      • Netherlands Nov Retail Sales +3.9% y/y vs consensus +2.8% and revised +3.3% from +3.1%

    • Markets:

      • WTI Crude (Feb 26): +$0.71 or +1.24% to $58.03

      • €-$ (0.0009) or (0.08%) to 1.1717

      • £-$ +0.0070 or +0.52% to 1.3525

      • €-£ (0.0052) to 0.8663

      • S&P 500 +0.89%

      • Performance year-to-date

        • FTSE 100: +0.74%

        • DAX: +1.54%

        • CAC: +0.76%

        • MIB: +2.01%

        • Stoxx 600: +1.62%

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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