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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.05% to 10373.20, DAX (0.58%) to 24616.22, CAC40 (0.23%) to 8199.29, STOXX 600 (0.15%) to 621.73

Jun 08 ,2026

  • Synopsis:

    • European equity markets closed mostly lower but off worst levels. Follows last week's downbeat performance. Asian equity markets lower, with selloff in tech fueling sharp losses in South Korea, Japan and Taiwan. US equity futures edging higher, with S&P up 0.3%.

    • Middle East tensions eased somewhat as Iran announced an end to military operations against Israel, although warned of harsher retaliation if Israel were to resume operations in Lebanon. Follows exchange of missile fire over the past two days. Trump urged against escalation. Talks have seemingly made little headway in recent weeks though Trump claimed agreement is close with couple of areas of disagreement left (access to frozen Iranian assets being one of them). Developments countered early influence from AI/tech selloff in Asia, which followed pullback in US semis Friday. SOX recorded worst week since March 2020. In addition, strong US nonfarm payrolls fueled hawkish repricing in Fed rate path.

    • Meanwhile, leaders of UK, Germany and France agreed with Ukraine President Zelenskyy conditions under which they are prepared to engage with direct talks with Russia. Putin rejected offer of face-to-face talks from Zelenskyy last week.

    • On macro data front, Sentix Eurozone investor confidence improved, coming in ahead of expectations. Big miss in German factory orders in April amid notable drop in automotive sector. Latest KPMG/REC UK jobs report showed notable drop in permanent jobs, sharp upturn in candidate availability and subdued wage growth.

    • Attention to turn to Thursday's ECB decision as week progresses. Market is almost fully priced for a rate hike of 25 bps, but outlook thereafter divided. Some reports highlight risk of policy mistake given deterioration in economic activity.

    • M&A dominated the headlines; in a new chapter for Italy's banking sector, Intesa Sanpaolo (ISP.IM) announced a cash and shares offer for Monte di Paschi di Siena (ISP.IM); the move is seen as a reaction to Sunday announcement from Banco BPM (BAMI.IM) which proposed exploring a merger of equals with Monte dei Paschi; in the complex deal, Unipol (UNI.IM) is also expected to acquire part of BMPS (branches) from Intesa Sanpaolo; in the UK, Ingredion confirmed a recommended offer for Tate & Lyle (TATE.LN).

    • Elsewhere, Roche Holding (ROP.SW) and Nurix Therapeutics will collaborate on bexobrutideg, with Nurix set to receive $700M (CHF557.8M) upfront and - still in Swizterland - Kardex Holding (KARN.SW) guided H1 EBIT at ~60% of year-ago.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Technology +1.28%, Persnl & HHold Goods +0.47%, Autos & Parts +0.35%, Insurance +0.28%, Telecom (0.01%), Oil & Gas (0.05%), Financial Svcs (0.06%)

      • Underperformers:

        • Construct & Mtls (1.47%), Chemicals (1.44%), Health Care (1.03%), Retail (1.03%), Utilities (0.69%), Real Estate (0.56%), Travel & Leisure (0.32%), Food & Beverage (0.30%), Banks (0.30%), Media (0.28%), Basic Resources (0.27%), Ind Goods & Svcs (0.16%)

    • Macro:

      • Geopolitics:

        • Europe ready to take the reins from US in talks with Putin, says Berlin - politico

        • EU and China set for key trade meetings as Brussels seeks to curb ballooning deficit - EUObserver

        • UK, Germany and France back Zelenskiy's proposal for direct talks with Putin to secure ceasefire - Reuters

      • Greece:

        • Election speculation rises in Greece following opinion poll - ekathimerini

      • UK:

        • New referendum would flip Brexit result 10 year on, poll finds - Bloomberg

        • Ministers told to cut budgets to fund boost to UK defence spending - FT

        • May saw weakness in permanent jobs, increase in the number of people looking for work and subdued wage growth on UK - KPMG/REC

        • PM Starmer poised to announce social media ban for under-16s -- BBC

    • Company news:

      • Notable Gainers

        • +14.8% TATE.LN (Tate & Lyle £5.63, +0.73) -- cash takeover offer from Ingredion at 595p/sh plus 2026 final and 2027 interim divi

        • +13.4% AUS.GR (AT & S Austria Technologie & Systemtechnik €138.80, +16.40)

        • +13.0% BMPS.IM (Banca Monte dei Paschi di Siena €10.09, +1.16) -- Intesa Sanpaolo takeover offer at 1.6sh plus €1.0 cash/MPS sh; Banco BPM proposed merger of equal deal

        • +12.3% ANOT.SS (Anoto Group SEK0.14, +0.02) -- convertible loan facility expanded with new $0.6M tranche

        • +12.0% MB.IM (Mediobanca €24.21, +2.59) -- Intesa Sanpaolo takeover offer at 1.6sh plus €1.0 cash/MPS sh; Banco BPM proposed merger of equal deal

        • +11.8% MMT.FP (M6-Metropole €12.84, +1.36) -- TF1 in renewed talks to acquire remaining 49% stake in M6-Metropole owned by RTL Group -- Le Parisien; Oddo upgrade

        • +6.4% SFL.IM (Safilo Group €1.70, +0.10) -- €20M share buyback program

        • +5.2% BPE.IM (BPER Banca €12.25, +0.60) -- Intesa Sanpaolo takeover offer at 1.6sh plus €1.0 cash/MPS sh; Unipol strengthens its control over BPER ahead of the possible takeover of MPS -- Radiocor; Banco BPM proposed merger of equal deal

        • +4.4% OTB.LN (On The Beach Group £1.52, +0.06) -- £10M share buyback program

        • +3.6% MOB.SS (Moberg Pharma SEK10.32, +0.36) -- license agreement with Karo Healthcare AB for MOB-015 in China

        • +3.5% ALIF.B.SS (AddLife SEK157.70, +5.40) -- Handelsbanken upgrade

        • +2.3% RCO.FP (Remy Cointreau €42.48, +0.94) -- UBS upgrade

        • +2.1% ORA.FP (Orange €17.78, +0.37) -- MoU with Bouygues, Free-iliad to acquire SFR from Altice France for EV of €20.35B

        • +2.0% CO.FP (Casino Guichard-Perrachon €0.23, -0.00) -- new partnership with Zouari Family

      • Notable Decliners

        • -22.7% ZEAL.DC (Zealand Pharma DKK252.30, -74.00) -- Boehringer Ingelheim study results from SYNCHRONIZE-1 and SYNCHRONIZE-MASLD Phase III trials

        • -12.0% KARN.SW (Kardex Holding CHF231.00, -31.50) -- H1 guidance

        • -6.3% LXS.GR (Lanxess €15.29, -1.03)

        • -5.9% KDV.B.SS (KDventures AB SEK0.27, -0.02) -- takes part in Umecrine Cognitions' share issue

        • -5.3% EVD.GR (CTS Eventim €51.80, -2.90) -- BNP Paribas Exane downgrade

        • -5.1% NAS.NO (Norwegian Air Shuttle NOK13.99, -0.76)

        • -3.7% AKE.FP (Arkema €57.60, -2.20) -- Goldman Sachs downgrade

        • -3.1% VOE.AV (Voestalpine €45.68, -1.48) -- UBS downgrade

        • -2.0% HEX.NO (Hexagon Composites NOK8.81, -0.18)

        • -1.4% ISP.IM (Intesa Sanpaolo €5.58, -0.08) -- Intesa Sanpaolo takeover offer

        • -1.1% BRCK.LN (BRCK Group £0.49, -0.01) -- acquisition of H.S. Jackson & Son (Fencing) Ltd. for initial consideration of £15M

        • -1.1% AIR.FP (Airbus SE €176.96, -2.00) -- Airbus notifying some customers of delays for A320neo deliveries - Bloomberg

    • EU companies reporting tomorrow:

      • Earnings:

        • Nordics: Rusta (RUSTA.SS)

        • UK: Oxford Instruments (OXIG.LN), LBG Media (LBG.LN)

        • Other: Mavi Giyim Sanayi ve Ticaret (MAVI.E.TI)

      • Trading Update:

        • France: Groupe Partouche (PARP.FP)

        • UK: Bellway (BWY.LN)

      • CMD/Events: SoftwareONE Holding (SWON.SW) at 14:00CET

  • Data:

    • Economics:

      • Germany Apr factory orders (3.8%) m/m vs consensus (1.2%), prior revised +4.5% from +5.0%

      • Eurozone Jun Sentix investor confidence (13.4) vs consensus (13.8), prior (16.4)

    • Markets:

      • WTI Crude (Jul 26): +$1.35 or +1.49% to $91.89

      • €-$ +0.0024 or +0.21% to 1.1539

      • £-$ +0.0010 or +0.08% to 1.3340

      • €-£ +0.0012 to 0.8651

      • S&P 500 +0.85%

      • Performance year-to-date

        • FTSE 100: +4.45%

        • DAX: +0.51%

        • CAC: +0.61%

        • MIB: +11.71%

        • Stoxx 600: +4.99%

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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