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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.18%) to 10478.34, DAX +0.18% to 25040.28, CAC40 (0.79%) to 8337.29, STOXX 600 (0.38%) to 639.31

Jul 01 ,2026

  • Synopsis:

    • European equity markets closed mostly lower, autos and Media the top gainers; Utilities and Energy the big laggards. Follows positive close on Tuesday with Stoxx 600 new record high.

    • Markets consolidating in Europe after benchmark Stoxx 600 hit new record highs to close out the month on Tuesday. Tone a bit cautious with the AI trade mixed in Asia and some attention on US-Iran talks in Doha on Tuesday. Iran refused to meet US envoys, clouding potential for peace deal, although sources described negotiations as positive. Markets also waiting for key central bank speeches today, including from Fed Chair Warsh. BoE Governor Bailey reiterated it had space to judge broader impact of Iran war on inflation. ECB sources have said lower oil prices reduces pressure on need to tighten.

    • Meanwhile, fresh Reuters source report said ECB considering doubling the proportion of cash lenders must keep as reserve to cut interest bill and mitigate side effect of inflation fight.

    • On macro data front, Eurozone inflation surprised on the downside on headline and core reading. Final Eurozone manufacturing PMI slightly firmer versus flash reading. UK manufacturing PMI sees moderate downward revision, but still fastest output since September 2024. UK Nationwide house price index recorded another weak reading in June, leaving y/y gain of 2.2% as base effects influence. In other news, EU took first step towards curbing unfair competition from online retailers by imposing €3 fee on low-value e-commerce ‌imports.

    • In M&A news, Schneider Electric (SU.FP) announced a definitive agreement to acquire 100% of Cognite Holding B.V. (AKER.NO) in an all-cash transaction valued at $3.1B. Elsewhere, Expansion reported that ING is rumoured to be finalising the acquisition of a 40% stake in Singular Bank. In Germany, Commerzbank (CBK.GR) holder Jefferies raises stake to 11.94% from previous 10.23% through derivatives.

    • On a light earnings front, Associated British Foods (ABF.LN) issued a Q3 trading update with solid results, confirming guidance, except for sugar, now expected to deliver an adjusted operating loss of (£25M)-(£60M) in 2026.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 29-Jun to 03-Jul attached) Fastpartner (FPAR.A.SS), Bang & Olufsen (BO.DC), Currys (CURY.LN), Baltic Classifieds Group (BCG.LN), James Latham (LTHM.LN), Activeops (AOM.LN), Trifast (TRI.LN), BAWAG Group (BG.AV), Sodexo (SW.FP), Associated British Foods (ABF.LN), Volvo Car (VOLCAR.B.SS) and HICL Infrastructure (HICL.LN) will be amongst other names to update investors, whilst the macro-calendar releases will include Italy May unemployment rate, Spain Jun unemployment change, Eurozone May unemployment rate, Switzerland Jun CPI, and Ireland Q1 final GDP.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Autos & Parts +1.37%, Media +1.28%, Financial Svcs +0.89%, Chemicals +0.82%, Personal Care Drug and Grocery Stores +0.74%, Retail +0.68%, Banks +0.41%, Ind Goods & Svcs +0.18%, Real Estate (0.15%), Basic Resources (0.19%), Health Care (0.35%),

      • Underperformers:

        • Utilities (1.80%), Energy(1.61%), Technology (1.20%), Construct & Mtls (1.17%), Telecom (1.02%), Travel & Leisure (0.98%), Food, Beverage and Tobacco (0.67%), Consumer Products and Services (0.47%),

    • Macro/Peripheral markets:

      • Geopolitics

        • US and Iran enter technical talks to secure peace deal, shipping restart - Reuters

      • Central Banks

        • Warsh Says He's Moving to Chart a New Course at Fed - Bloomberg

        • ECB's Kocher Says the Next Decisions Will Be Either Hike or Hold - Bloomberg

      • EU

        • Planes leaving half full in EU border chaos, says industry - FT

        • Europe tries to strengthen defenses against Chinese competition - Le Monde

        • Industrial firms warn EU carbon overhaul could benefit polluters - Reuters

      • UK

        • Keir Starmer forced on back foot at PMQs over 'weak' defence plan - The Guardian

        • Reeves warns Burnham against borrowing to fill defence black hole - The Telegraph

        • UK competition watchdog to widen probe into childcare market - FT

        • The UK Stock Market Continues to Lose Companies - Bloomberg

      • France

        • French presidential candidate Retailleau suggests election date favors the left - Politico

      • Germany

        • This is on the table of the coalition committee - Handelsblatt

        • Germany wants to make US weapons on home turf, Pistorius says - Politico

    • Company news:

      • Trading Higher:

        • +64.3% ALZCUR.SS (AlzeCure Pharma SEK6.44, +2.49) -- out-licensing and collaboration agreement with QuantumCell ApS

        • +40.6% CMCX.LN (CMC Markets £5.67, +1.86) -- FY27 guidance upgrade

        • +22.4% ALVIO.FP (Valerio Therapeutics €0.29, +0.05) -- acquisition of Etherna Immunotherapies

        • +10.1% ASC.LN (Asos £3.16, +0.29) -- divestment of Atlanta fulfilment centre for ~£48M

        • +8.1% TECN.SW (Tecan Group CHF173.00, +13.10) -- UBS upgrade

        • +7.0% TESB.BB (Tessenderlo Group €20.00, +1.36) -- acquires ~20% in FMC Corp for $400M

        • +5.3% CHG.LN (Chemring Group £5.27, +0.27) -- $48.8M JBTDS contract

        • +4.9% BAB.LN (Babcock International Group £9.94, +0.47)

        • +4.4% AKER.NO (Aker ASA NOK1,220.00, +50.00) -- sale of Cognite to Schneider Electric for $3.1B

        • +4.4% RS1.LN (RS Group plc £6.03, +0.26) -- Deutsche Bank upgrade

        • +3.4% SAAB.B.SS (Saab SEK519.80, +17.10) -- contract for Gripen E

        • +3.3% INRN.SW (Interroll Holding CHF1,304.00, +42.00) -- acquires Interroll AS

        • +3.1% KOG.NO (Kongsberg Gruppen NOK308.00, +9.30) -- NOK 4.7B order for Joint Strike Missile

        • +2.9% POLR.LN (Polar Capital Holdings £9.29, +0.26) -- FY earnings

        • +2.9% LONN.SW (Lonza Group CHF557.60, +15.60) -- expands long-term biopharma partnership

        • +2.4% VIVE.SS (Vivesto SEK8.74, +0.20) -- completes recruitment in Paccal Vet study

        • +2.4% LUMO.FH (Lumo Homes €7.60, +0.18) -- Goldman Sachs upgrade

        • +2.4% INTRUM.SS (Intrum SEK3.49, +0.08) -- raises SEK6B in right issue

      • Trading Lower:

        • -11.9% AB.FP (AB Science €0.80, -0.11) -- raises €2.3M through private placement

        • -7.4% ATS.AV (AT & S Austria Technologie & Systemtechnik €204.50, -15.60) -- AT & S core owners selling €120M stake; offering by holders prices at €200/share -- Bloomberg

        • -6.3% AUS.GR (AT & S Austria Technologie & Systemtechnik €203.00, -13.50) -- AT & S core owners selling €120M stake; offering by holders prices at €200/share -- Bloomberg

        • -5.5% MPCC.NO (MPC Container Ships NOK23.89, -1.40) -- raises $107M through private placement

        • -5.0% IDIA.SW (Idorsia CHF6.73, -0.34) -- new CEO

        • -4.5% TPT.LN (Topps Tiles £0.33, -0.02) -- Q3 trading update

        • -4.4% RWAY.IM (Rai Way €4.77, -0.23) -- Rai Way-EI Towers merger talks end without agreement -- Radiocor

        • -3.5% ABF.LN (Associated British Foods £19.53, -0.70) -- Q3 trading update

        • -3.4% SU.FP (Schneider Electric €277.95, -9.60) -- acquires Cognite from Aker for $1.48B

        • -3.3% GRG.LN (Greggs £15.49, -0.53) -- CFO to retire

        • -2.8% EPEN.SS (Ependion SEK140.20, -4.00)

        • -2.0% SANN1.SW (Santhera Pharmaceuticals Holding CHF16.06, -0.32) -- topline results from Catalyst Pharmaceuticals' phase 1 clinical study of AGAMREE

        • -1.6% IDHC.LN (Integrated Diagnostics Holdings £0.53, -0.01)

        • -1.5% BYW6.GR (BayWa €2.73, -0.04) -- restructuring agreement update

    • EU companies reporting tomorrow:

      • Earnings:

        • Nordics: Fastpartner (FPAR.A.SS), Bang & Olufsen (BO.DC)

        • UK: Currys (CURY.LN), Baltic Classifieds Group (BCG.LN), James Latham (LTHM.LN), Activeops (AOM.LN), Trifast (TRI.LN)

      • Trading Update:

        • DACHs: BAWAG Group (BG.AV)

        • France: Sodexo (SW.FP)

        • UK: Associated British Foods (ABF.LN)

      • Sales: Volvo Car (VOLCAR.B.SS)

      • CMD/Events: HICL Infrastructure (HICL.LN)

  • Data:

    • Economics:

      • Jun Manufacturing PMI

        • Eurozone 51.4 vs prelim 51.3

        • Germany 50.3 vs prelim 50.0

        • France 51.2 vs prelim 50.7

        • Italy 52.2 vs conss 52.5 and prior 52.9

        • Switzerland 54.3 vs cons 56.5 and prior 57.3

        • Spain 49.7 vs cons 51.0 and prior 51.2

        • Sweden 58.3 vs cons 55.9 and prior revised 57.4 from 57.3

      • May Unemployment Rate

        • Portugal 5.5% vs consensus 5.7% and prior 5.7%

        • Greece 8.1% vs consensus 9.6% and prior revised to 9.1% from 9.5%

      • UK Jun Nationwide House Price Index +2.2% y/y vs cons +2.4% and prior +1.7%

      • Netherlands

        • Q1 GDP +1.4% y/y vs prelim +1.2%

        • May Retail Sales +2.9% y/y vs cons +2.9% and prior +3.4%

      • Finland May Prelim HICP +2.7% y/y vs cons +3.1% and prior +2.8%

      • Switzerland May Retail Sales +3.5% y/y vs cons +0.8% and prior revised to +1.7% from +1.6%

      • Austria Jun prelim CPI +3.2% y/y vs cons +3.7% and prior +3.7%

      • Eurozone May Preliminary CPI +2.8% y/y vs consensus +3.0% and prior +3.2%

    • Markets:

      • WTI Crude (Aug 26): ($1.24) or (1.78%) to $68.26

      • €-$ (0.0040) or (0.35%) to 1.1384

      • £-$ +0.0009 or +0.07% to 1.3271

      • €-£ (0.0036) to 0.8579

      • S&P 500 +0.17%

      • Performance year-to-date

        • FTSE 100: +5.51%

        • DAX: +2.25%

        • CAC: +2.30%

        • MIB: +14.82%

        • Stoxx 600: +7.96%

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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