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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.03%) to 10137.35, DAX +0.06% to 25420.66, CAC40 (0.14%) to 8347.20, STOXX 600 (0.08%) to 610.44

Jan 13 ,2026

  • Synopsis:

    • European equity markets closed mixe to lower, off bets levels. Stoxx Europe 600 at fresh ATH. DAX on track for longest daily winning streak since 2014. Construction/materials, autos/parts and travel/leisure biggest decliners; energy, banks and tech best performers. Follows positive performance Monday.

    • Main focus on slightly softer US core CPI for Dec, up 2.6% y/y versus 2.7% expected,supporting risk assets. Geopolitics remains in focus as Trump announced immediate 25% tariffs on all countries trading with Iran, though implementation details remain unclear. Iran protests escalated with over 500 deaths, while press reports suggest reported Trump considering military intervention, new sanctions, or cyberattacks against Iran. Iran's foreign minister declared readiness for both dialogue and war. Trump scheduled Thursday meeting with Venezuelan opposition leader María Corina Machado. Supreme Court ruling on Trump's emergency tariff powers expected, potentially delayed until April-June.

    • Limited market fallout DOJ probe into Fed Chair Powell over senate testimony related to headquarter cost overruns. Market seems more sanguine given combination of select Republican pushback and skepticism Trump will ultimately want to go down that road. Trump's affordability push another complication though also doubts about his ability to formally implement the bulk of the measures he has proposed. US earnings season also kicks off. JPM beat with trading a bright spot. DAL a laggard on weaker FY26 guide. Trump's surprise announcement capping credit card rates at 10% raised questions about his legal authority and potential credit access restrictions.

    • In Europe, focus may be on French political uncertainty with PM Lecornu potentially invoking article 49.3 to bypass parliament on the 2026 budget (targeting 5.4% deficit). UK BRC Dec sales slowed to 1.2% with relief pinned on H1 BoE easing. EU-China negotiations explored price floors for Chinese electric vehicles as an alternative to existing tariffs. Looking at US data, headline December US CPI up 0.3% m/m, in line with consensus; core CPI up 0.2% m/m, softer than the 0.3.% forecast. Shelter index, airfares, healthcare prices higher while used cars were lower; report largely in line with previews expecting some broad increases following distortions related to the government shutdown.

    • In earnings, Brunello Cucinelli (BC.IM) reported preliminary Q4 revenue €388.6M vs consensus €381.1M; out of DACHs, Suedzucker (SZU.GR) reported Q3 numbers and Nordex (NDX1.GR) reported prelim Q4 order intake. Chocoladefabriken Lindt & Spruengli (LISN.SW), Sika Group (SIKA.SW) reported preliminary FY sales, while Roche Holding (ROG.SW) affirmed its FY25 guidance. In the UK, Persimmon (PSN.LN) shares are slightly higher post FY25 Trading Statement with Total completions + 12% y/ to 11,905 homes and ahead of market expectations; Whitbread (WTB.LN) shares higher post solid Q3 trading update and Trustpilot Group (TRST.LN) shares also amidst the notable gainers post FY trading update, while PageGroup plc (PAGE.LN) is trading lower post Q4 trading update reporting gross profit growth at cFX (4.6%) vs consensus (3.8%).

    • In other notable corporate news flow, Orsted (ORSTED.DC) shares are higher post court approval to resume US wind projects despite Trump administration opposition. Ontex Group (ONTEX.BB) brings forward Laurent Nielly's appointment as CEO to 13-Jan-26 and launches strategic review. Further in management changes, FT reports Sergio Ermotti to step down as UBS (UBSG.SW) CEO in April 2027; Komax Holding (KOMN.SW) CFO Christian Mäder to step down effective at the end of June 2026 while Sogefi (SGF.IM) announces Olivier Proust, CFO, terminates his employment relationship with the group, effective 12-Jan.

    • In M&A headlines, media reports Diageo (DGE.LN) is considering options for its assets in China while UniCredit (UCG.IM) has reportedly held talks with Delfin over Monte Paschi (BMPS.IM) stake.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 12-Jan to 16-Jan attached) BRAIN Biotech (BNN.GR), Dustin Group (DUST.SS), Bang & Olufsen (BO.DC), Frontier Developments (FDEV.LN), Ramsdens Holdings (RFX.LN), Partners Group Holding (PGHN.SW), CATANA Group (ALCAT.FP), Ekinops (EKI.FP), BP (BP.LN), Pearson (PSON.LN), Vistry Group (VTY.LN), Hays (HAS.LN), Flughafen Zuerich (FHZN.SW), and Medivir (MVIR.SS) EGM election of chairman will be amongst other names to update investors, whilst the macro-calendar releases will include Finland Dec CPI.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Energy+1.94%, Basic Resources +0.62%, Banks +0.59%, Technology +0.49%, Ind Goods & Svcs +0.23%, Food, Beverage and Tobacco +0.18%, Chemicals +0.11%,

      • Underperformers:

        • Construct & Mtls (2.57%), Telecom (1.42%), Autos & Parts (1.34%), Utilities (1.18%), Insurance (0.81%), Real Estate (0.78%), Financial Svcs (0.74%), Travel & Leisure (0.66%), Media (0.48%), Health Care (0.41%), Consumer Products and Services (0.36%), Retail (0.29%),

    • Macro/Peripheral markets:

      • Geopolitics

        • 'Help is on the way,' Trump says as he urges Iranians to 'keep protesting' - BBC

        • Greenland's PM says territory 'chooses Denmark over the US' ahead of talks with JD Vance - The Guardian

        • Ukraine's G7 allies to press Trump in crunch talks at Davos - FT

      • EU

        • European leaders vow to hit Iran with sanctions after regime kills protesters - Politico

      • UK

        • UK and Poland agree closer air defense ties - Politico

        • Tories call for block on Chinese super-embassy amid claims of hidden chamber near sensitive cables - The Guardian

        • Starmer 'will accept place on Trump's board to run Gaza' - The Times

        • Ministers to announce new rail link between Birmingham and Manchester - FT

      • France

        • Marine Le Pen arrives for embezzlement appeal in Paris court - Reuters

      • Germany

        • Tourism in Germany on course for a record - Handelsblatt

        • Germany's SPD, conservatives in coalition clash over inheritance tax reform - Reuters

        • Researchers Identify Leadership Problem in German Family Businesses - Handelsblatt

      • Switzerland

        • Switzerland Seeks to Enshrine Role of Cash With Altered Proposal - Bloomberg

      • Spain

        • Spain moves to curb AI deepfakes, tighten consent rules on images - Reuters

    • Company news:

      • Trading Higher:

        • +13.7% BITTI.FH (Bittium €34.20, +4.50) -- Inderes upgrade

        • +11.5% AET.LN (Afentra £0.46, +0.05) -- completes independent resource assessment across Blocks 3/05 and 3/05A

        • +11.2% PDL.LN (Petra Diamonds £0.20, +0.02) -- recovers 41.82 carat Type IIb blue diamond of seemingly exceptional colour, clarity

        • +10.7% EYE.LN (Eagle Eye Solutions Group £3.10, +0.30) -- contract

        • +7.8% ALVU.FP (Vente-Unique.com €16.15, +1.20) -- FY earnings

        • +7.8% ONTEX.BB (Ontex Group €5.10, +0.38) -- brings forward Laurent Nielly's appointment as CEO

        • +6.7% WTB.LN (Whitbread £26.85, +1.72) -- Q3 trading update; LondonMetric Property announces acquisition of a further nine Premier Inn hotels for £89.0M from company

        • +5.4% ORSTED.DC (Ørsted DKK134.45, +6.95) -- confirms US federal court granted preliminary injunction allowing Revolution Wind construction to resume

        • +5.4% KURN.SW (Kuros Biosciences CHF27.60, +1.40) -- announced that all five MagnetOs formulations have recently received approval across multiple large IDN health systems in the U.S

        • +5.0% SY1.GR (Symrise €74.82, +3.54) -- to divest terpenes business; discloses €400M share buyback program

        • +4.7% ZAL.GR (Zalando €26.69, +1.19) -- Barclays upgrade

        • +4.4% AKRBP.NO (Aker BP NOK266.90, +11.60) -- DNB Carnegie upgrade

        • +3.9% GAMA.LN (Gamma Communications £9.36, +0.34) -- FY trading update

        • +3.7% FPE3.GR (FUCHS SE €39.80, +1.40) -- initiated overweight at JPMorgan

        • +3.6% ARGX.BB (argenx €697.80, +24.00) -- FDA accepts for priority review sBLA for company's VYVGART

        • +3.3% GYM.LN (Gym Group £1.62, +0.05) -- FY trading update

        • +3.3% TPE.GR (PVA TePla €27.10, +0.86) -- Jefferies upgrade

        • +2.9% AOF.GR (ATOSS Software €120.60, +3.40) -- Jefferies upgrade

        • +2.6% SHI.LN (SIG £0.10, -0.00) -- FY trading update

        • +2.6% EQNR.NO (Equinor NOK243.90, +6.20)

        • +2.6% BESI.NA (BE Semiconductor Industries €167.65, +4.15)

        • +2.1% BC8.GR (Bechtle €44.34, +0.92) -- acquires Hungarian PLM specialist EuroSolid

      • Trading Lower:

        • -18.5% SHOE.LN (Shoe Zone £0.53, -0.13) -- FY earnings

        • -12.4% KDEV.SS (Karolinska Development SEK0.34, -0.05) -- launches SEK 202.6M Rights Issue subscription

        • -9.5% SIKA.SW (Sika Group CHF153.65, -15.65) -- prelim FY eanrings

        • -8.4% VU.FP (VusionGroup €175.80, -15.50) -- BNP Paribas Exane downgrade

        • -7.7% ROCK.B.DC (Rockwool DKK0.00, -17.15) -- Russian Federation transfers subsidiary of Rockwool to temporary management by JSC Development of Construction Assets -- Interfax

        • -6.3% EXA.FP (Exail Technologies €107.00, -7.00) -- completes €200M tap issue of "ODIRNANE" undated and unsubordinated convertible bonds

        • -6.2% PAGE.LN (PageGroup £2.18, -0.14) -- Q4 trading update

        • -5.3% S92.GR (SMA Solar Technology €33.48, -1.92) -- Jefferies downgrade

        • -4.4% DG.FP (VINCI SA €118.10, -5.40) -- BofA downgrade

        • -4.0% MMT.FP (M6-Metropole €11.64, -0.48) -- Bernstein downgrade

        • -3.7% TFI.FP (TF1 €7.92, -0.30) -- Bernstein downgrade

        • -3.5% ADP.FP (Aeroport de Paris €112.50, -4.00) -- BofA downgrade

        • -3.3% KAMBI.SS (Kambi Group SEK127.20, -4.30) -- Jefferies downgrade

        • -3.2% FGR.FP (Eiffage €121.45, -4.05) -- BofA downgrade

        • -2.9% SPSN.SW (Swiss Prime Site CHF122.80, -3.70) -- initiated underweight at Morgan Stanley

        • -2.9% SAVE.LN (Savannah Energy £0.08, -0.00) -- enters relationship agreement with NIPCO Plc

        • -2.6% TREL.B.SS (Trelleborg SEK369.60, -10.10) -- ABG Sundal Collier downgrade

        • -2.5% HEI.GR (Heidelberg Materials €230.50, -5.80)

        • -2.4% CON.GR (Continental €68.08, -1.64) -- transferred hold at Berenberg

        • -2.3% GET.FP (Getlink €16.13, -0.38) -- BofA downgrade

        • -2.2% HO.FP (Thales €265.00, -5.90) -- Deutsche Bank downgrade

        • -2.2% PAF.LN (Pan African Resources $1.22, -0.03)

        • -2.0% TELIA.SS (Telia Co. SEK38.41, -0.78) -- UBS downgrade

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: BRAIN Biotech (BNN.GR)

        • Nordics: Dustin Group (DUST.SS), Bang & Olufsen (BO.DC)

        • UK: Frontier Developments (FDEV.LN), Ramsdens Holdings (RFX.LN)

      • Trading Update:

        • DACHs: Partners Group Holding (PGHN.SW)

        • France: CATANA Group (ALCAT.FP), Ekinops (EKI.FP)

        • UK: BP (BP.LN), Pearson (PSON.LN), Vistry Group (VTY.LN), Hays (HAS.LN)

      • Traffic: Flughafen Zuerich (FHZN.SW)

      • CMD/Events: Medivir (MVIR.SS) EGM election of chairman

  • Data:

    • Economics:

      • Dec CPI

        • Netherlands +2.8% y/y vs preliminary +2.8%

        • Greece +2.6% y/y vs consensus +2.5% and prior +2.4%

        • Portugal +2.2% y/y vs preliminary +2.2%

      • Ireland Nov Retail Sales +2.5% y/y vs consensus +2.5% and prior revised +2.0% from +2.1%

      • UK Dec retail sales monitor +1.0% y/y vs consensus +1.3% and prior +1.2% - BRC

    • Markets:

      • WTI Crude (Feb 26): +$1.95 or +3.28% to $61.45

      • €-$ (0.0024) or (0.21%) to 1.1644

      • £-$ (0.0031) or (0.23%) to 1.3433

      • €-£ +0.0004 to 0.8669

      • S&P 500 (0.16%)

      • Performance year-to-date

        • FTSE 100: +2.07%

        • DAX: +3.80%

        • CAC: +2.43%

        • MIB: +1.25%

        • Stoxx 600: +3.08%

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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