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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.41%) to 10356.90, DAX (0.16%) to 24985.82, CAC40 (0.55%) to 8421.14, STOXX 600 (0.24%) to 635.60

Jun 19 ,2026

  • Synopsis:

    • European equity markets closed mostly lower, reversing earlier gains. Energy names the main outperformer, with sector up more than 1%. Media, insurance and chemicals seeing modest gains. Basic resources, Consumer Products and Services, Retail and travel/leisure lag. Follows mixed close on Thursday.

    • Markets consolidating in quiet trade. European markets on track for positive weekly performance. Markets welcomed US-Iran deal, though VP Vance postponed Friday trip to Switzerland for talks with Iran. Suspicions delay connected to continued fighting between Israel and Hezbollah. Israeli strike on southern Lebanon Thursday. Big pullback in oil a key tailwind for European markets this week.

    • Other key point of focus is central bank policy after hawkish Fed takeaways. Signs of divergence in Europe after Thursday's policy updates. Sell-side takeaways talked up possibility of BoE hold for the remainder of the year. Meanwhile, Norges Bank tipped to raise rates later in the summer. In addition, SNB seen on the sidelines well into 2027 and highlighted reduced risk of FX intervention. ECB policy rhetoric from chief economist Lane and Belgian central bank chief Wunsch suggests ECB may have just one more hike in agenda.

    • UK politics in the headlines after Labour Party candidate Burnham won the pivotal Makerfield by-electon, which paves the way for likely leadership challenge. PM Starmer has insisted he would fight a challenge, but his ministers and supporters could put pressure on him to announce departure and speed up transition to new leadership. Market mostly focused on Burnham's policy agenda because he is the strong favorite to become PM, though health secretary Streeting has signaled he would also contest the leadership.

    • On the macro data front, UK May retail sales beat forecasts in line with other industry updates. Came despite downbeat GfK consumer confidence reading, which remained at-23 reading in June. UK public sector borrowing higher than forecast. German PPI increase was cooler than expected.

    • In corporate news flow, out of the UK, Tesco (TSCO.LN),Whitbread (WTB.LN) and Informa (INF.LN) issued trading updates; Besi (BESI.NA) is holding an investor day today and raised long-term operating margin target to 45-55% from 40-55%.

    • In M&A, shares of Edenred (EDN.FP) in the spotlight, after La Lettre reported BC Partners was working with a financial partner on a potential takeover of Edenred that would entail delisting the company. EQT (EQT.SS) announces recommended final cash offer of £60.00/sh plus the FY25 final dividend of 107.7p/sh for Intertek Group (ITRK.LN). L'Oreal (OR.FP) signed agreement to acquire a majority stake in Indian beauty and personal care brand Innovist.

    • Looking ahead to monday's calendar (see - Europe Week Ahead: 22-Jun to 26-Jun attached) NextEnergy Solar Fund (NESF.LN), BT Group (BT.A.LN) business update call, Italgas (IG.IM) strategic plan 2026-32, Cantargia (CANTA.SS) investor meeting - key opinion leader will be amongst other names to update investors, whilst the macro-calendar releases will include Ireland May PPI, Eurozone Jun flash consumer confidence.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Energy+1.29%, Media +0.59%, Health Care +0.43%, Insurance +0.25%, Utilities +0.15%, Banks (0.16%), Autos & Parts (0.20%),

      • Underperformers:

        • Basic Resources (1.94%), Retail (1.44%), Consumer Products and Services (1.40%), Travel & Leisure (0.93%), Personal Care Drug and Grocery Stores (0.78%), Construct & Mtls (0.73%), Food, Beverage and Tobacco (0.68%), Technology (0.57%), Financial Svcs (0.35%), Telecom (0.35%), Chemicals (0.33%), Ind Goods & Svcs (0.30%),

    • Macro/Peripheral markets:

      • Geopolitics

        • Israel and Hezbollah agree to ceasefire, US official confirms - BBC

        • Iran-US peace talks postponed - Politico

      • Central Banks

        • Lane Says It's Hard to Argue ECB Shouldn't Have Hiked Rates - Bloomberg

        • BOE Unveils Doomsday Scenario for Private Markets Stress Test - Bloomberg

      • EU

        • Meloni and Sánchez clash over EU migration crackdown - Politico

        • EU set to remove barriers to banks' cross-border capital flows - FT

        • EU leaders set to clash over bloc's next seven-year budget - Reuters

        • EU leader Costa's Kremlin overture exposes divisions over contacts with Russia - Reuters

      • UK

        • Starmer warns Labour against 'turning on each other' after Burnham's convincing Makerfield win - BBC

        • Burnham team pushes to secure backing of half of Labour MPs - The Telegraph

        • City investors fear Labour leadership battle could push up UK bond yields, as UK borrowing jumps in May - The Guardian

        • Tories' Scotland victory adds to Reform UK's woes - FT

      • France

        • France detains man suspected of spying on drone factory for Russia - Le Monde

      • Germany

        • Hubertz wants to noticeably reduce construction costs with a package of measures - Handelsblatt

        • Germany's China shock largely homemade, according to study - Handelsblatt

    • Company news:

      • Trading Higher:

        • +14.2% ELHA.GA (ElvalHalcor Hellenic Copper & Aluminium Industry €5.31, +0.66) -- shareholders to vote on 9-Jul on proposal for up to €300M capital raise

        • +9.7% SMHN.GR (SÜSS MicroTec €112.70, +10.00) -- target up at Berenberg

        • +8.2% LXS.GR (Lanxess €17.20, +1.31) -- Chemicals

        • +5.6% EVK.GR (Evonik Industries €16.15, +0.86) -- Chemicals; target up at Deutche Bank

        • +5.4% ADMIE.GA (Admie Holdings (IPTO) €4.72, +0.24) -- share placing

        • +5.3% VWS.DC (Vestas Wind Systems DKK182.75, +9.15) -- placed on a Positive Catalyst Watch by J.P. Morgan

        • +4.6% NOVO.B.DC (Novo Nordisk DKK292.95, +12.85) -- establishes CardioMetabolic Bridge; Japan MHLW additional indication approval for wegovy subcutaneous injection

        • +4.1% MUX.GR (Mutares SE & Co KGaA €29.45, +1.15) -- acquisition

        • +3.4% TNIE.GR (tonies €12.94, +0.42) -- target up at Oddo, NuWays

        • +2.7% BRG.NO (Borregaard NOK145.80, +3.80) -- SEB upgrade

        • +2.5% R3NK.GR (Renk Group €48.02, +1.18) -- Aero & defense

        • +2.0% PRY.IM (Prysmian €150.90, +3.00) -- Chemicals; target up at Deutche Bank

        • +1.8% RHM.GR (Rheinmetall €1,200.40, +21.20) -- Aero & Defense; Rheinmetall weighing options for its first defense-related production facility in Japan, possibly jv with Japanese company that could lead to exports -- Nikkei

        • +1.7% LDO.IM (Leonardo €52.70, +0.89) -- Aero & defense; approves the Group's new organization structure; Gian Piero Cutillo will oversee the finance, compliance, M&A, post-merger integration and other units

        • +1.6% AVIO.IM (Avio €34.68, +0.56) -- new order

        • +1.5% LBG.LN (LBG Media £0.27, -0.00) -- acquisition

        • +1.5% UNI.IM (Unipol Gruppo €24.42, +0.35) -- Unipol raises potential BPER Banca exposure to nearly 30% ahead of possible takeover of MPS -- Radiocor

      • Trading Lower:

        • -15.2% PPH.LN (PPHE Hotel Group £16.90, -3.04) -- strategic review update

        • -12.5% REC.LN (Record £0.47, -0.07) -- earnings

        • -7.1% MRK.LN (Marks Electrical Group £0.46, -0.04) -- earnings

        • -5.8% NORSE.NO (Norse Atlantic NOK0.59, -0.04) -- ignificant expansion of its Thailand program for Winter 2026/27

        • -5.3% ALHGR.FP (Hoffmann Green Cement Technologies €3.77, -0.21) -- completes capital increase

        • -4.3% UTG.LN (UNITE Group £5.10, -0.23) -- holder placing

        • -3.3% ADM.LN (Admiral Group £32.50, -1.10) -- RBC Capital Markets downgrade

        • -2.4% RF.FP (Eurazeo €42.86, -1.04) -- acquisition

        • -2.1% DEQ.GR (Deutsche EuroShop €18.60, -0.40) -- ex-div today

        • -1.7% BAER.SW (Julius Baer Group CHF65.22, -1.16) -- Keefe, Bruyette & Woods downgrade

    • EU companies reporting Monday:

      • Earnings:

        • UK: NextEnergy Solar Fund (NESF.LN)

      • CMD/Events: BT Group (BT.A.LN) business update call, Italgas (IG.IM) strategic plan 2026-32, Cantargia (CANTA.SS) investor meeting - key opinion leader

  • Data:

    • Economics:

      • UK May

        • Retail Sales +3.2% y/y vs consensus +1.9% and prior revised +0.1% from 0.0%

        • UK May Public Sector Net Borrowing £23.3B vs consensus £19.0B and prior revised £23.0B from £24.3B (2:00ET)

      • Germany May PPI +2.2% y/y vs consensus +2.5% and prior +1.7%

    • Markets:

      • WTI Crude (Jul 26): +$0.25 or +0.33% to $76.85

      • €-$ +0.0005 or +0.04% to 1.1463

      • £-$ +0.0013 or +0.10% to 1.3218

      • €-£ (0.0004) to 0.8674

      • S&P 500 +0.00%

      • Performance year-to-date

        • FTSE 100: +4.28%

        • DAX: +2.02%

        • CAC: +3.33%

        • MIB: +17.59%

        • Stoxx 600: +7.33%

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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