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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.05% to 10148.85, DAX +0.13% to 24933.08, CAC40 (0.15%) to 8131.15, STOXX 600 +0.20% to 609.57

Jan 26 ,2026

  • Synopsis:

    • European equity markets closed mostly higher, following last week's negative close. Miners, utilities and banks the best performers; travel, autos and financial services the laggards.

    • Market on watch for yen intervention after press sources noted NY Fed conducted rate check, in potential prelude to joint US-Japan action to support currency. PM Takaichi echoed recent verbal warnings from Finance Minister Katayama, telling Japan TV on Sunday that authorities will take necessary steps against speculative market moves. Japan FX chief Mimura on Monday noted will respond appropriately and work closely with US authorities in-line with joint statement issued in September.

    • In latest trade developments, President Trump threatened 100% tariffs on Canada if it "makes deal with China". Trump unclear on deal he is referring to, though follows PM Carney's recent visit to China where he and Xi agreed to tariff concessions on China EVs and Canada agricultural products. Market mostly ignoring Trump's latest tariff threat. Meanwhile, Reuters sources said India to reduce tariffs on Europe auto imports to 40% from as much as 110%, as part of free trade deal that could be announced as soon as Tuesday. UK PM Starmer leading a delegation of business leaders in Beijing trip this week to enhance trade relationship.

    • In other news, German Ifo business climate index unchanged versus prior update, but just short of expectations. Handelsblatt Research Institute said German investment needs to pick up momentum to lift growth after weak 2025. The BoE is restructuring monetary policy division in response to Bernanke review. In UK politics, PM Starmer blocks leadership hopeful Manchester mayor Burnham from standing in May by-election. Adzuna data showed drop in UK vacancies as research highlighted UK losing more jobs than creating at a faster rate than international peers due to AI. French press reported former French PM Attal pushing ahead with presidential bid.

    • In geopolitical news, US, Ukraine and Russia to hold another round of talks next weekend in Abu Dhabi amid reports of progress in two-day talks. Ukraine president Zelenskyy said US security agreement 100% ready to be signed.

    • On the reporting front, DACH names kicked off the week, with Stabilus (STM.GR) and Inficon Holding (IFCN.SW) posting their most recent numbers. Elsewhere, Ryanair Holdings (RYA.ID) posted Q3 and guided FY26; Costain Group (COST.LN) shares rallying after its trading update. In M&A , CVC Capital Partners (CVC.NA) agreed to acquire 100% of Marathon for $1.2B and Daniel Křetínský's EP group offered to acquire Fnac Darty (FNAC.FP) at €36/sh in cash; FT reports that Rheinmetall (RHM.GR) and OHB (OHB.GR) are discussing the possibility of teaming up on a Starlink-style service.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 26-Jan to 30-Jan attached) Atlas Copco (ATCO.A.SS), Sandvik (SAND.SS), Getinge (GETI.B.SS), Alleima (ALLEI.SS), HMS Networks (HMS.SS), Xvivo Perfusion (XVIVO.SS), Lightshop (BHG.SS), Micro Systemation (MSAB.B.SS), BE Group (BEGR.SS), Sthree (STEM.LN), Logitech International (LOGN.SW), and LVMH Moet Hennessy Louis Vuitton (MC.FP) will be amongst other names to update investors, whilst the macro-calendar releases will include France Jan consumer confidence, Spain Q4 unemployment rate, Sweden Dec trade balance, PPI, Denmark Dec retail sales, Finland Dec unemployment rate, UK Jan shop price inflation - BRC.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +1.56%, Utilities +1.24%, Banks +0.97%, Real Estate +0.48%, Health Care +0.48%, Chemicals +0.35%, Insurance +0.28%, Energy+0.24%, Telecom +0.23%,

      • Underperformers:

        • Travel & Leisure (0.91%), Financial Svcs (0.74%), Autos & Parts (0.71%), Ind Goods & Svcs (0.50%), Retail (0.36%), Food, Beverage and Tobacco (0.22%), Technology (0.21%), Consumer Products and Services (0.11%), Personal Care Drug and Grocery Stores (0.06%), Media (0.05%),

    • Macro/Peripheral markets:

      • Geopolitics

        • Ukraine keeps pushing for early EU entry as peace plan talks rumble on - FT

        • G-7 Finance Ministers to Discuss Rare Earths, Ukraine on Tuesday - Bloomberg

      • EU

        • Finland teams up with EU, Baltic Sea states to enhance undersea infrastructure monitoring - Reuters

        • India, EU wrap up talks for landmark trade deal amid strained US ties - Reuters

        • EU opens new probe into Elon Musk's X following Grok sexual images - Politico

      • UK

        • Starmer brushes off claims blocking Burnham from byelection was 'cowardly' - The Guardian, BBC

        • AI jobs carnage is 'harming Britain more than global rivals' - The Telegraph

        • London's Living Standards Rise Twice as Quickly as Rest of UK - Bloomberg

        • Suella Braverman defects to Reform UK - The Times

      • France

        • French Tax Probe Intensifies Strain at Billionaire's Beer Empire - Bloomberg

      • Germany

        • Reiche wants to increase labor productivity with more full-time work - Handelsblatt

        • Ifo index stagnates in January - "zero number at the start of the year" - Handelsblatt

        • German Auto Union Hints at Escalation as Cost Cut Pressure Grows - Bloomberg

    • Company news:

      • Trading Higher:

        • +47.6% SFOR.LN (S4 Capital £0.28, +0.09) -- Q4 trading update

        • +32.4% OHB.GR (OHB SE €228.00, +56.00) -- Rheinmetall, OHB speaking about potential bid for service for German military - FT

        • +18.4% SPI.LN (Spire Healthcare Group £2.11, +0.33) -- confirms strategic review talks with Bridgepoint Advisers Limited and Triton Investment Advisers

        • +17.0% FNAC.FP (Fnac Darty €35.30, +5.15) -- EP group cash offer at €36/sh

        • +6.9% BFIT.NA (Basic-Fit €33.66, +2.18) -- prelim. FY earnings

        • +6.4% BANB1.SW (Bachem Holding CHF74.85, +4.45)

        • +6.1% NESTE.FH (Neste €21.92, +1.27) -- Morgan Stanley upgrade; Goldman Sachs upgrade

        • +6.0% AT1.GR (Aroundtown €2.63, +0.15) -- €250M share buy-back programme

        • +5.9% COST.LN (Costain Group £1.73, +0.10) -- FY trading update

        • +5.5% MBB.GR (MBB €211.00, +11.00) -- prelim. FY earnings

        • +5.2% NEM.GR (Nemetschek €81.70, +4.05) -- JPMorgan upgrade

        • +4.9% PAF.LN (Pan African Resources $1.46, +0.07) -- H1 production update

        • +4.9% INTRUM.SS (Intrum SEK50.04, +2.33) -- ABG Sundal Collier upgrade

        • +3.9% CRI.FP (Compagnie Chargeurs Invest €10.70, +0.40) -- to sell Novacel to KPS Capital for ~€230M in cash

        • +2.8% SGRO.LN (Segro £7.50, +0.21) -- Jefferies upgrade

        • +2.1% ROCK.B.DC (Rockwool DKK216.20, +4.35) -- JPMorgan upgrade

        • +1.9% NOTE.SS (NOTE SEK169.50, +3.20) -- FY earnings

      • Trading Lower:

        • -18.6% NANO.LN (Nanoco Group £0.07, -0.02) -- terminates sale process

        • -4.5% ADJ.GR (ADLER Group €0.19, -0.01)

        • -3.7% OBD.LN (Oxford BioDynamics £0.00, -0.00)

        • -3.4% TFIN.IM (Trevi-Finanziaria Industriale €0.70, -0.03) -- Chairman resigns

        • -3.0% KGX.GR (Kion Group €63.55, -1.95) -- Jefferies downgrade

        • -2.2% JM.SS (JM SEK139.80, -3.10) -- ABG Sundal Collier downgrade

        • -2.2% RYA.ID (Ryanair Holdings €28.35, -0.63) -- Q3 earnings

        • -2.1% BN.FP (Danone €66.10, -1.44)

        • -2.0% IFCN.SW (Inficon Holding CHF126.20, -2.60) -- prelim. FY earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Logitech International (LOGN.SW)

        • France: LVMH Moet Hennessy Louis Vuitton (MC.FP)

        • Nordics: Atlas Copco (ATCO.A.SS), Sandvik (SAND.SS), Getinge (GETI.B.SS), Alleima (ALLEI.SS), HMS Networks (HMS.SS), Xvivo Perfusion (XVIVO.SS), Lightshop (BHG.SS), Micro Systemation (MSAB.B.SS), BE Group (BEGR.SS)

        • UK: Sthree (STEM.LN)

      • Trading Update:

        • France: Aramis Group (ARAMI.FP)

        • Nordics: Vår Energi (VAR.NO)

        • UK: Sage Group (SGE.LN), Cranswick (CWK.LN), Evoke (EVOK.LN)

      • CMD/Events: Reckitt Benckiser Group (RKT.LN) EGM vote on special dividend, share consolidation, Talenom (THOM.FH) EGM vote on demerger plan

  • Data:

    • Economics:

      • Finland Dec PPI (0.8%) y/y vs consensus +0.1%, prior +0.2%

      • Spain Dec PPI (3.0%) y/y vs consensus (2.0%), prior (2.5%)

      • Germany Jan IFO survey

        • Business climate 87.6 vs consensus 88.3, prior 87.6

        • Current conditions 85.7 vs consensus 86.5, prior 85.6

        • Expectations 89.5 vs consensus 90.5, prior 89.7

    • Markets:

      • WTI Crude (Mar 26): ($0.53) or (0.87%) to $60.54

      • €-$ +0.0027 or +0.23% to 1.1885

      • £-$ +0.0034 or +0.25% to 1.3701

      • €-£ (0.0003) to 0.8674

      • S&P 500 +0.56%

      • Performance year-to-date

        • FTSE 100: +2.19%

        • DAX: +1.81%

        • CAC: (0.23%)

        • MIB: +0.04%

        • Stoxx 600: +2.93%

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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