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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.52%) to 10154.43, DAX (0.29%) to 24822.79, CAC40 (1.06%) to 8066.68, STOXX 600 (0.75%) to 608.51

Jan 28 ,2026

  • Synopsis:

    • European equity markets closed lower but off worst levels. CAC underperforming amid weakness in luxury goods names. Healthcare, personal/household goods and banks were the biggest laggards; real estate, energy and basic resources outperformed. Follows mostly higher levels on Tuesday, with Stoxx Europe 600 up ~1.7% on the week.

    • The German government has cut its GDP forecasts for the next two years with 2026 GDP forecast to expand by 1 per cent in real terms this year vs previous forecast in October of 1.3 per cent.. For 2027, it is predicting 1.3 per cent growth vs October forecast of 1.4 per cent.

    • Quiet macro calendar. In Europe, German consumer confidence beat expectations after recording the weakest level since April 2024 at the end of 2025. Italian consumer and business sentiment firming up in January. Swiss economic sentiment indicator sees sharp deterioration.

    • In earnings news, the spotlight turns to the luxury sector with LVMH Moet Hennessy Louis Vuitton (MC.FP) and Christian Dior (CDI.FP) reporting FY earnings and Salvatore Ferragamo (SFER.IM) issuing FY prelim numbers. The technology sector is also in focus, as heavyweight ASML Holding (ASML.NA) released its Q4 earnings, with strong order intake and above-consensus guidance for both 2026 and the upcoming quarter, whilst Logitech International (LOGN.SW) reported Q3 earnings.

    • Miners outperform today, led by higher metal prices with Fresnillo (FRES.LN) and SSAB (SSAB.A.SS) updating investors with their latest numbers. Tele2 (TEL2.B.SS) and Royal KPN (KPN.NA) reported Q4 earnings in the Telecommunication sector. Lonza Group (LONN.SW) posted strong FY earnings and a positive outlook for 2026. In the Industrial transportation sector, Volvo (VOLV.BS) delivered Q4 results ahead of expectations and raised its FY26 industry outlook. Elsewhere, Debenhams Group (DEBS.LN) released a trading update for the year-end, and Wacker Chemie (WCH.GR) reported preliminary FY earnings.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Real Estate +1.36%, Oil & Gas +0.97%, Basic Resources +0.83%, Insurance +0.54%, Utilities +0.46%, Food & Beverage +0.23%, Autos & Parts +0.22%, Retail +0.20%, Chemicals +0.16%, Media +0.15%, Telecom +0.09%, Travel & Leisure +0.08%, Financial Svcs (0.47%), Construct & Mtls (0.52%), Technology (0.59%)

      • Underperformers:

        • Health Care (2.49%), Persnl & HHold Goods (2.11%), Banks (1.30%), Ind Goods & Svcs (0.82%)

    • Macro:

      • Central Banks:

        • ECB may cut rates if euro strength impacts inflation forecasts says Austrian governor Kocher (FT)

        • BoE governor warns of urgent need to strengthen shadow banking resilience to avert crisis (London Times)

      • Geopolitics:

        • Slovak PM Fico expresses shock over Trump's state of mind after Mar-a-Lago meeting (Politico)

        • NATO secretary-general Rutte faces backlash for prioritizing US ties amid calls for European defense autonomy (Politico)

        • Spain's foreign minister calls for European army amid shifting US security ties (FT)

        • UK PM Starmer visits Beijing to expand trade ties with China while balancing US relations (Bloomberg)

      • Markets:

        • Euro surges above $1.20 against dollar as Trump dismisses currency concerns (Bloomberg)

        • Swiss franc hits decade-high against dollar posing challenges for Swiss National Bank amid safe-haven demand (FT)

      • Germany:

        • German government forecasts 1% growth in 2026 and pushes for reforms to boost competitiveness (Welt)

        • German conservatives push to counter AfD rise in eastern states ahead of key elections (Politico)

      • France:

        • French PM Lecornu survives no-confidence votes after forcing budget through parliament (France24)

    • Company news:

      • Notable Gainers

        • +31.4% ALBPS.FP (Biophytis €0.08, +0.02) -- strategic agreement in Asia and secures $20M for launch of Phase 3 trial of BIO101 in sarcopenia

        • +22.1% ALSEN.FP (Sensorion €0.34, +0.06) -- €60M financing with a €20M strategic investment from Sanofi

        • +14.8% PAY.LN (PayPoint £5.75, +0.74) -- Q3 revenue

        • +14.3% MCG.LN (Mobico Group £0.24, +0.03) -- confirms its subsidiary National Express Rail GmbH is in advanced stages of agreeing agreement in principle with five German Public Transport Authorities

        • +12.2% FDM.LN (FDM Group (Holdings) £1.62, +0.18) -- trading update

        • +11.9% DMYD.B.SS (Diamyd Medical SEK16.14, +1.72) -- Q1 earnings

        • +11.7% KOO.LN (Kooth £1.38, +0.15) -- trading update

        • +8.9% JEN.GR (Jenoptik €24.32, +1.98)

        • +8.1% SAVE.SS (Nordnet SEK293.40, +22.00) -- Q4 earnings

        • +8.0% SESG.FP (SES €6.87, +0.51) -- extends EGNOS GEO-1 satellite service through 2030, with an option to extend

        • +6.6% HSP.LN (Hargreaves Services £7.14, +0.44) -- H1 earnings

        • +6.3% YCA.LN (Yellow Cake £7.22, +0.43)

        • +5.8% MER.LN (Mears Group £3.72, +0.21) -- contract

        • +5.8% BGO.LN (Bango £0.83, +0.04)

        • +5.5% DEBS.LN (Debenhams Group £0.25, +0.01) -- trading update

        • +5.4% PETS.LN (Pets At Home Group £2.11, +0.11) -- trading update

        • +5.0% NRR.LN (NewRiver REIT £0.74, +0.04) -- trading update

        • +4.3% ORON.SW (ORIOR CHF11.10, +0.46) -- prelim FY earnings

        • +3.7% SUR.GR (Surteco Group €12.65, +0.45) -- to examine the strategic options for the future of the Group; includes examining possible sale of some business units

        • +3.3% ORES.SS (Investment AB Öresund SEK120.60, +3.80) -- FY earnings

        • +3.2% BEKB.BB (Bekaert €41.55, +1.30) -- agreement with Bridgestone to acquire tire reinforcement business in China and Thailand for €60M cash

        • +2.7% NDA.GR (Aurubis €159.90, +4.20) -- prelim Q1 earnings

        • +2.6% IFX.GR (Infineon Technologies €43.42, +1.10)

        • +2.2% PSPN.SW (PSP Swiss Property CHF151.80, +3.20) -- UBS upgrade

      • Notable Decliners

        • -17.3% DOM.SS (Dometic Group SEK39.56, -8.26) -- Q4 earnings

        • -13.5% MEDCL.FP (MedinCell €24.02, -3.74) -- 2025 net sales of UZEDY

        • -13.4% MARS.LN (Marston's £0.60, -0.09) -- trading update

        • -8.2% GREEN.SS (Green Landscaping Group SEK43.45, -3.90) -- Q4 earnings

        • -7.9% MC.FP (LVMH Moet Hennessy Louis Vuitton €542.80, -46.50) -- Q4 earnings; increases stake in Loro Piana from 85% to 94% for €1B; CIC Market Solutions downgrade

        • -7.4% CDI.FP (Christian Dior €504.00, -40.00) -- FY earnings

        • -6.8% ELAN.B.SS (Elanders SEK63.40, -4.60) -- Q4 earnings

        • -6.6% SNI.NO (Stolt-Nielsen NOK318.00, -22.50) -- Q4 earnings

        • -5.8% SFER.IM (Salvatore Ferragamo €6.31, -0.39) -- prelim FY revenue

        • -4.2% ATG.LN (Auction Technology Group £3.07, -0.14) -- FitzWalter announces that its 400p offer for Auction Technology Group will not be improved or increased and is final

        • -4.0% TEL2.B.SS (Tele2 SEK158.90, -6.60) -- Q4 earnings; updates financial policy

        • -3.0% KER.FP (Kering €266.20, -8.30) -- LVMH Moet Hennessy Louis Vuitton (MC.FP) earnings sympathy

        • -2.8% VEI.NO (Veidekke NOK176.20, -5.00) -- BG Sundal Collier downgrade

        • -2.8% SAN.FP (Sanofi €77.54, -2.21) -- RBC Capital Markets downgrade

        • -2.8% SSAB.A.SS (SSAB SEK75.78, -2.18) -- Q4 earnings

        • -2.8% ALLEI.SS (Alleima SEK75.80, -2.20) -- DNB Carnegie downgrade

        • -2.8% HBX.SM (HBX Group International €7.91, -0.23) -- Q1 revenue

        • -2.0% DBK.GR (Deutsche Bank €32.87, -0.66) -- Deutsche Bank offices in Frankfurt and Berlin raided by German Federal Criminal Police - Spiegel

        • -1.9% ASML.NA (ASML Holding €1,194.40, -23.20) -- Q4 earnings; to cut ~1,700 positions

        • -1.8% SOLB.BB (Solvay €25.38, -0.46) -- ING downgrade

        • -1.5% IDIA.SW (Idorsia CHF3.65, -0.06) -- exclusive license and supply agreement with EMS for QUVIVIQ in Latin America

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: ING Groep (INGA.NA)

        • Denmark: Alm. Brand (ALMB.DC), RTX (RTX.DC)

        • Finland: Nokia (NOKIA.FH), Suominen (SUY1V.FH)

        • France: Sanofi (SAN.FP), STMicroelectronics (STMPA.FP), Eurofins Scientific (ERF.FP), Alten (ATE.FP)

        • Germany: SAP (SAP.GR), Deutsche Bank (DBK.GR), DWS Group (DWS.GR)

        • Norway: Gjensidige Forsikring (GJF.NO), Protector Forsikring (PROT.NO), Pareto Bank (PARB.NO), Europris (EPR.NO), Sparebanken Møre (MORG.NO)

        • Sweden: Nordea Bank (NDA.SE.SS), Skandinaviska Enskilda Banken (SEB.A.SS), Swedbank (SWED.A.SS), H&M Hennes & Mauritz (HM.B.SS), Telia Co. (TELIA.SS), Indutrade (INDT.SS), Trelleborg (TREL.B.SS), Axfood (AXFO.SS), Munters Group (MTRS.SS), HEXPOL (HPOL.B.SS), Atrium Ljungberg (ATRLJ.B.SS), Electrolux Professional (EPRO.B.SS), Paradox Interactive (PDX.SS), Gränges (GRNG.SS), Hemnet Group (HEM.SS), Intrum (INTRUM.SS), RVRC Holding (RVRC.SS), VNV Global (VNV.SS)

        • Switzerland: Roche Holding (ROG.SW), ABB Limited (ABBN.SW), Givaudan (GIVN.SW), Emmi (EMMN.SW), Berner Kantonalbank (BEKN.SW) and tbc Swatch Group (UHR.SW)

        • UK: Lloyds Banking Group (LLOY.LN), EasyJet (EZJ.LN), Wizz Air Holdings (WIZZ.LN), Rank Group (RNK.LN), ITM Power (ITM.LN), Crest Nicholson Holdings (CRST.LN), Scancell Holdings (SCLP.LN)

        • Other: KRKA d.d. (KRKG.SV)

      • Trading Update:

        • DACHs: Schaeffler (SHA0.GR), Bucher Industries (BUCN.SW), PIERER Mobility (PKTM.SW), Interroll Holding (INRN.SW)

        • France: Elis (ELIS.FP), Remy Cointreau (RCO.FP), Maurel et Prom (MAU.FP), Groupe Samse (SAMS.FP), Lanson-BCC (ALLAN.FP), Cegedim (ALCGM.FP), Groupe LDLC (ALLDL.FP), Vranken-Pommery Monopole (POMRY.FP)

        • UK: Glencore (GLEN.LN), Antofagasta (ANTO.LN), St. James's Place (STJ.LN), Greencore Group (GNC.LN), CVS Group (CVSG.LN), Hilton Food Group (HFG.LN), ASA International Group (ASAI.LN)

  • Data:

    • Economics:

      • Germany Feb GfK Consumer Confidence (24.1) vs consensus (25.5) and prior (26.9)

      • Switzerland Jan ZEW Expectations (4.7) vs consensus 5.5 and prior 6.2

      • Italy Jan Business Confidence 89.2 vs consensus 89.0 and prior revised to 88.5 from 88.4

        • Jan Consumer Confidence 96.8 vs consensus 97.0 and prior 96.6

    • Markets:

      • WTI Crude (Mar 26): +$0.53 or +0.85% to $62.92

      • €-$ (0.0111) or (0.92%) to 1.1931

      • £-$ (0.0079) or (0.57%) to 1.3771

      • €-£ (0.0032) to 0.8665

      • S&P 500 (0.02%)

      • Performance year-to-date

        • FTSE 100: +2.25%

        • DAX: +1.36%

        • CAC: (1.02%)

        • MIB: +0.43%

        • Stoxx 600: +2.76%

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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