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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.04%) to 10235.29, DAX (0.22%) to 25297.13, CAC40 (0.65%) to 8258.94, STOXX 600 (0.03%) to 614.38

Jan 16 ,2026

  • Synopsis:

    • European equity markets ended mostly flat to lower Friday. Follows positive performance on Thursday which saw fresh all time high closes for Stoxx Europe 600 and FTSE 100. CAC lagged on political uncertainty and saw weekly loss of (1.2%)

    • Markets navigating a mixed picture today, with geopolitical tensions easing after Trump decided to hold off on Iran strikes. US-Taiwan trade deal has put Asian chip stocks in focus, lowering US tariffs on Taiwanese goods to 15% in exchange for over $250B in Taiwanese investment in US chip production. Chicago Fed's Goolsbee signaled further rate cuts ahead, while jobless claims fell to 198,000-below all forecasts-illustrating investor confidence in both economic resilience and continued monetary easing. Global credit spreads have tightened to lowest since 2007. ECB chief economist Lane emphasized a steady policy path with no near-term debate on rate adjustments.

    • In M&A, Worthington Steel (WS) to launch €11.00/sh takeover offer for Kloeckner & Co. (KCO.GR). Late on Thursday, Klöckner & Co SE announced its intention to sell Becker Group. Media reports that members of the Ferrari family can sell up to 5% of their stake in Ferrari (RACE.IM) without breaching the shareholder agreement. Greencore Group (GNC.LN) completes acquisition of Bakkavor (BAKK.LN) with Bakkavor shares suspended with effect today.

    • In European sector performance, Health Care an outperformer, as Novo Nordisk (NOVO.B.DC) rose on encouraging Wegovy pill data and Roche (ROG.SW) upgrade at Goldman Sachs. Oil & Gas best performer with rebound in crude prices helping. Aker BP (AKRBP.NO) rose after strong FY/Q4 production figures in line with guidance. Autos & Parts among the biggest laggards with focus on Citi slashing forecasts for European OEMs, citing softer demand, elevated prices and margin pressure with BEV adoption slowing. Meanwhile, RACE.IM and EXO.NA both declined on reports allowing up to 5% Ferrari stake sale. Porsche (P911.GR) also down after it reported tepid deliveries. Basic Resources also big decliners with miners snaping a five-day winning streak . BofA cut EU mining sector to underweight, citing macro headwinds. Chemicals also among notable decliners. Luxury weaker, notably Richemont (CFR.SW) after a broker downgrade.

    • Looking ahead to next week, highlights on the agenda include World Economic Forum in Davos, Eurogroup meeting, Norges Bank interest rate decision, IEA monthly oil market report, Eurozone, France, Germany, UK Jan flash manufacturing/services PMIs, Germany Jan ZEW survey, UK Dec CPI/RPI/PPI as well as earnings/updates from the likes of Barry Callebaut (BARN.SW), Burberry (BRBY.LN), EQT (EQT.SS), Essity (ESSITY.B.SS), Experian (EXPN.LN), Ericsson (ERIC.B.SS), Porsche (P911.GR), Tryg (TRYG.DC) and Wise (WISE.LN). Of note, on Mon, US markets are closed for Martin Luther King, Jr. Day holiday, whilst Bank of Japan interest rate decision after EU close on Thu, the same day as the US withdrawal from the World Health Organization (WHO) is due to take effect. In US earnings, things will continue to ramp as the bulk of the finance/banking sector report Q4 results and we start to move on to notable prints in tech/healthcare/oil & gas names. Next week's notable US reporters include NFLX, JNJ, GE, PG, and INTC.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Energy+1.11%, Utilities +0.86%, Health Care +0.48%, Financial Svcs +0.34%, Ind Goods & Svcs +0.26%, Real Estate +0.08%, Retail +0.04%

      • Underperformers:

        • Consumer Products and Services (2.10%), Basic Resources (2.01%), Chemicals (1.51%), Autos & Parts (1.49%), Telecom (1.29%), Media (0.95%), Food, Beverage and Tobacco (0.76%), Personal Care Drug and Grocery Stores (0.48%), Travel & Leisure (0.36%), Insurance (0.21%), Banks (0.19%), Construct & Mtls (0.19%)

    • Macro:

      • EU

        • EU 'membership-lite' plan for Ukraine spooks European capitals -- FT

      • Greenland

        • Trump floats new tariffs in push to acquire Greenland -- CNBC

        • US lawmakers seek to reassure Copenhagen after Trump Greenland threats -- Reuters

      • UK

        • UK lenders cut mortgage rates in race for new year buyers -- FT

        • BOE's Bailey Says Populism Is Making Economic Job Harder -- Bloomberg

      • France

        • French PM Lecornu faces desperate measures to pass budget bill -- France24

      • Italy

        • Bank of Italy Reckons GDP Rose Slightly in the Fourth Quarter -- Bloomberg

        • Italy's 'shopping trolley' price index has risen 24% since 2021 -- ANSA

      • Sweden

        • Sweden Is Tackling Too High Jobless Rate, Finance Chief Says -- Bloomberg

      • Bulgaria

        • Bulgaria heads for yet another snap election -- POLITICO

    • Company news:

      • Notable Gainers

        • +27.8% KCO.GR (Kloeckner & Co. €11.00, +2.39) -- Worthington Steel to launch €11.00 per share takeover offer for company; to divest Becker Group

        • +12.7% ALMKT.FP (Mauna Kea Technologies €0.09, +0.01) -- Q4 revenue

        • +10.0% DRW3.GR (Drägerwerk €87.00, +8.00) -- prelim FY earnings

        • +9.5% KOG.NO (Kongsberg Gruppen NOK332.40, +28.80) -- raised price targets at several firms ahead of Q4 results

        • +6.8% GNS.LN (Genus £28.05, +1.80) -- H1 trading update

        • +6.5% NOVO.B.DC (Novo Nordisk DKK388.90, +23.70) -- Wegovy pill hits 3,071 US prescriptions in the first four days after its launch -- Reuters, citing IQVIA data

        • +5.8% POLR.LN (Polar Capital Holdings £6.24, +0.34) -- AuM update

        • +5.3% CBG.LN (Close Brothers Group £5.34, +0.27) -- RBC Capital Markets upgrade

        • +5.2% GLE.LN (MJ Gleeson £4.05, +0.20) -- H1 trading update

        • +3.2% BWLPG.NO (BW LPG NOK147.80, +4.60) -- provides an update on its Product Services' Q4 segment performance

        • +3.0% GYM.LN (Gym Group £1.67, +0.05) -- RBC Capital Markets upgrade

        • +2.8% KESKOB.FH (Kesko €20.28, +0.55) -- Dec sales

        • +2.4% BIOBV.FH (Biohit €3.41, +0.08) -- Inderes upgrade

        • +0.9% JSG.LN (Johnson Service Group £1.42, +0.01) -- FY trading update

      • Notable Decliners

        • -20.6% ONCO.SS (Oncopeptides SEK3.45, -0.90) -- prelim Q4 revenue

        • -8.4% INRN.SW (Interroll Holding CHF2,175.00, -200.00)

        • -7.1% CLTN.SW (Coltene Holding CHF53.90, -4.10) -- prelim FY earnings

        • -6.8% ZEHN.SW (Zehnder Group CHF81.80, -5.90) -- FY revenue

        • -5.9% NOEJ.GR (Norma Group €14.88, -0.94) -- Metzler Capital Markets downgrade

        • -5.4% CFR.SW (Richemont CHF161.80, -9.20) -- BofA downgrade

        • -5.0% THEP.FP (Thermador Groupe €75.80, -4.00) -- prelim Q4 revenue

        • -4.3% OUT1V.FH (Outokumpu €4.66, -0.21) -- Jefferies downgrade

        • -4.2% BMPS.IM (Banca Monte dei Paschi di Siena €8.81, -0.39) -- Banca Monte dei Paschi di Siena CEO Luigi Lovaglio could lose job - FT

        • -4.0% MOWI.NO (Mowi NOK223.40, -9.40) -- Pareto downgrade

        • -3.9% BOL.SS (Boliden SEK569.80, -23.20) -- SEB downgrade

        • -3.2% MB.IM (Mediobanca €17.26, -0.57) -- Banca Monte dei Paschi di Siena CEO Luigi Lovaglio could lose job - FT

        • -2.6% GLEN.LN (Glencore £4.78, -0.13) -- sector move; BofA strategists cut EU mining sector to underweight

        • -2.0% RIO.LN (Rio Tinto $63.34, -1.29) -- Speculation around potential carve outs if Rio Tinto-Glencore merger eventuates - Australian Financial Review

        • -1.3% SVS.LN (Savills £10.96, -0.14) -- Peel Hunt downgrade

        • -1.1% EBK.GR (EnBW Energie Baden-Wuerttemberg €69.40, -0.80) -- CEO interview in Handelsblatt

        • -1.0% VOLV.B.SS (Volvo SEK312.70, -3.10) -- Kepler Cheuvreux dopwngrade

        • -0.8% VWS.DC (Vestas Wind Systems DKK184.70, -1.40) -- ABG Sundal Collier downgrade

        • -0.6% SREN.SW (Swiss Re CHF127.05, -0.75) -- Keefe, Bruyette & Woods downgrade

    • EU companies reporting tomorrow:

      • Trading Update:

        • DACHs: Douglas (DOU.GR), BELIMO Holding (BEAN.SW)

        • France: Virbac (VIRP.FP), Nacon (NACON.FP)

        • UK: Marshalls (MSLH.LN), BHP Group (BHP.LN)

      • CMD/Events: Coca-Cola HBC (CCH.LN) EGM, Cinclus Pharma Holding (CINPHA.SS) EGM

  • Data:

    • Economics:

      • Dec CPI

        • Germany +1.8% y/y vs preliminary +1.8%

        • Italy +1.2% y/y vs preliminary +1.2%

    • Markets:

      • WTI Crude (Feb 26): +$0.76 or +1.28% to $59.95

      • €-$ (0.0007) or (0.06%) to 1.1602

      • £-$ +0.0007 or +0.05% to 1.3387

      • €-£ (0.0009) to 0.8667

      • S&P 500 +0.14%

      • Performance year-to-date

        • FTSE 100: +3.06%

        • DAX: +3.29%

        • CAC: +1.34%

        • MIB: +1.72%

        • Stoxx 600: +3.75%

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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