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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.36% to 10362.80, DAX +1.32% to 24456.26, CAC40 +0.93% to 8082.27, STOXX 600 +0.76% to 616.04

May 14 ,2026

  • Synopsis:

    • European indices ended in positive territory. Note that Denmark, Finland, Iceland, Norway, Sweden, Switzerland were all closed (Ascension Day). Attention in Europe on Trump-Xi summit. Expectations continue to revolve around an extension of the fragile trade truce, China purchases of aircraft, soybeans and energy. Some potential for a loosening of export restrictions on rare earths and advanced chips, though neither side expected to give any meaningful ground on their key points of leverage. Meanwhile, relatively quiet when it comes to latest on conflict in the Middle East outside of a pickup in headlines about a handful of vessels transiting the Strait

    • Focus also on UK politics, with health secretary Wes Streeting resigning in the afternoon and criticizing PM Starmer's leadership. In a resignation letter, he said he had lost confidence and it was clear Starmer would not lead Labour into the next general election. However, he stopped short of directly launching a leadership bid, instead calling for a contest with the best possible and broad field of candidates. Attention will turn to Starmer's response, who has insisted in recent days that he would not resign or be forced out. Under Labour leadership rules, the incumbent can choose to be on the ballot. Speculation has mounted that ministers have put pressure on Starmer to set out a timetable of departure, as he is unlikely to lead the party into the next general election due by August. Latest betting odds for prime minister have former deputy PM Rayner as favorite. Rayner was cleared in a tax probe over purchase of second property and indicated she could stand in a leadership contest. Backers of Manchester Mayor Burnham pressing Labour Party's ruling body to agree extended leadership election timetable to give him time to return to parliament (Politico).

    • On the macro-front, UK monthly activity data sees upside surprise in GDP, while quarterly growth sees biggest boost from services sector. Also, ECB's Lagarde doubled down on call for EU reform amid rising geopolitical tensions. ECB economist Lane said data inconclusive on impact from Iran war. Meanwhile, hawkish BoE official Mann indicated Gilt market volatility could feature in policy considerations. Deputy BoE Governor Breeden played down risk of second round effects.

    • In M&A news, Tate & Lyle (TATE.LN) confirmed that Ingredion (INGR) made a conditional proposal regarding possible cash offer at 615p per share. On the reporting front. Few notable companies out with earnings/updates, including Telefonica (TEF.SM), Aviva (AV.LN), ITV (ITV.LN), National Grid (NG.LN) and Burberry Group (BRBY.LN) among few others

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers: Technology +2.55%, Media +2.21%, Persnl & HHold Goods +1.21%, Insurance +1.20%, Banks +1.11%, Construct & Mtls +0.79%

      • Underperformers: Basic Resources (0.62%), Financial Svcs (0.36%), Oil & Gas (0.00%), Utilities +0.02%, Travel & Leisure +0.05%, Health Care +0.20%, Chemicals +0.23%, Telecom +0.29%, Real Estate +0.41%, Autos & Parts +0.44%, Retail +0.48%, Food & Beverage +0.73%, Ind Goods & Svcs +0.76%

    • Macro:

      • Europe must be more assertive with US, adopt 'pragmatic federalism' - Draghi (Ansa)

      • Germany's Merz calls for more investment, less subsidies in EU budget (F24)

      • Trump's Troop Drawdown in Germany Is a Warning Shot (BBG)

      • Senior UK minister resigns, calls for a leadership contest to oust PM Starmer (Reuters)

      • Macron turns to English-speaking Africa (Economist)

      • Giorgia Meloni Is the Anti-Starmer of Europe (BBG)

      • Latvian Prime Minister resigns over handling of Ukrainian drone incidents (Reuters)

    • Company news:

      • Notable Gainers

        • +47.3% SPI.LN (Spire Healthcare Group £2.22, +0.71) -- FY trading update; cash bid at 250p/sh from Toscafund Asset Management

        • +46.9% TATE.LN (Tate & Lyle £5.52, +1.76) -- confirmed that Ingredion (INGR) made a 615p per share offer

        • +19.1% PRT.IM (Esprinet €7.53, +1.21) -- Q1 earnings

        • +17.7% WOSG.LN (Watches of Switzerland Group £6.24, +0.94) -- FY trading update

        • +15.7% S92.GR (SMA Solar Technology €65.00, +8.75)

        • +11.6% AB.FP (AB Science €1.05, +0.11) -- FY earnings

        • +10.8% FUTR.LN (Future Plc £3.19, +0.31) -- H1 earnings

        • +7.2% DMP.GR (Dermapharm Holding €50.30, +3.40)

        • +7.0% TEF.SM (Telefonica €4.07, +0.27) -- Q1 earnings

        • +6.4% LGEN.LN (Legal & General Group £2.65, +0.16) -- FT article on Legal & General Group notes speculation rising on whether private capital firms will bid

        • +3.3% PFD.LN (Premier Foods £2.04, +0.06) -- FY earnings

        • +3.2% THRU.LN (Thruvision Group £0.01, -0.00) -- new strategic partnerships

        • +2.9% SIE.GR (Siemens AG €274.85, +7.70) -- acquires key businesses of Italy's MERMEC

        • +2.5% VOW3.GR (Volkswagen €88.68, +2.12) -- XPeng, Inc. explores Volkswagen factory deal in Europe - FT

        • +0.9% NG.LN (National Grid £12.89, +0.12) -- FY earnings

        • +0.6% GRI.LN (Grainger £1.56, +0.01) -- H1 earnings

      • Notable Decliners

        • -13.8% III.LN (3i Group £20.73, -3.34) -- FY earnings

        • -8.8% LOU.GR (DEAG Deutsche Entertainment €3.10, -0.30)

        • -7.7% CIE.SM (CIE Automotive €28.90, -2.40) -- holder Mahindra Overseas places ~4.29M shares at €29.37/sh

        • -6.2% BRBY.LN (Burberry Group £10.89, -0.72) -- FY earnings; Chair to retire

        • -5.5% SHUR.BB (Shurgard Self Storage €23.85, -1.40) -- Q1 earnings

        • -3.0% WINE.LN (Naked Wines £0.72, -0.02)

        • -1.0% ECEL.LN (Eurocell £1.03, -0.01) -- 4M trading update

        • -0.7% TRE.SM (Tecnicas Reunidas €31.00, -0.22) -- Q1 earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Syensqo (SYENS.BB)

        • DACHs: Sudwestdeutsche Salzwerke (SSH.GR), H&R (2HRA.GR)

        • Nordics: Nordrest Holding (NREST.SS), Koskisen (KOSKI.FH)

        • Other: Societatea Nationala de Gaze Naturale ROMGAZ (SNG.RO)

        • Southern Europe: Interpump Group (IP.IM), Reply (REY.IM), ERG (ERG.IM), Semapa (SEM.PL), Tamburi Investment Partners (TIP.IM), El.En. (ELN.IM), Marr (MARR.IM), Aeroporto Guglielmo Marconi di Bologna (ADB.IM)

      • Trading Update:

        • UK: Grafton Group (GFTU.LN)

        • Traffic: Fraport AG Frankfurt Airport Services Worldwide (FRA.GR)

  • Data:

    • Economics:

      • UK

        • Q1 Preliminary GDP +1.1% y/y vs consensus +0.8% and prior +1.0%

        • Mar

          • Construction Output (0.3%) y/y vs consensus (2.5%) and prior revised (1.6%) from (1.0%)

          • Industrial Production 0.0% y/y vs consensus +0.2% and prior revised (0.5%) from (0.4%)

          • Visible Trade Balance (£27.22B) vs consensus (£19.8B) and prior revised (£22.80B) from (£18.79B)

      • Spain Apr CPI +3.2% y/y vs preliminary +3.2%

    • Markets:

      • WTI Crude (Jun 26): ($0.29) or (0.29%) to $100.73

      • €-$ (0.0035) or (0.30%) to 1.1678

      • £-$ (0.0045) or (0.33%) to 1.3479

      • €-£ +0.0002 to 0.8664

      • S&P 500 +0.85%

      • Performance year-to-date

        • FTSE 100: +4.34%

        • DAX: (0.14%)

        • CAC: (0.82%)

        • MIB: +11.36%

        • Stoxx 600: +4.03%

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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