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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.71%) to 10524.76, DAX +0.06% to 24846.69, CAC40 +0.02% to 8340.11, STOXX 600 (0.30%) to 639.60

Jul 20 ,2026

  • Synopsis:

    • European equity markets mostly lower at the close, giving back earlier gains. Energy, tech, media, banks the best performers. Travel, financial services, health care lag. Asian markets mixed overnight and US equities mixed in midday trading. Treasuries slightly weaker with yields up 3-4 bp. Dollar index up 0.2%. Gold down 0.1%. Silver up 1.3%. Bitcoin futures up 0.8%. WTI crude flat amid noisy Mideast headlines.

    • Renewed escalate to de-escalate hope the big geopolitical story as another ramp in weekend US-Iran kinetic activity has seemingly been overshadowed by Iranian confirmation it has received proposals from mediators and Rubio comments that Iran has continued to signal a desire to negotiate. Along with the semi selloff and Middle East tensions, weekend press saw a flurry of articles about Moonshot's Kimi K3 model and open-source competition from China. Focus in Europe is on UK politics as Andy Burnham was appointed PM. The new PM will make a major announcement on the economy tomorrow, including how he will pay for the radical measures he is expected to introduce. For UK assets, his pick for chancellor is likely to receive ongoing scrutiny due to fiscal constraints.

    • Light macro calendar to start week in Europe. German PPI eased as expected. ECB survey of firms saw tightening in lending conditions, lower increases in selling prices and wage expectations. Deloitte UK CFO survey showed improvement in risk appetite and optimism on impact of AI on performance. Update from property portal Rightmove saw fall in house prices.

    • On the corporate front, out of DACHs, BELIMO Holding (BEAN.SW) out with H1 numbers, Salzgitter (SZG.GR) reported preliminary H1 numbers after the close on Friday and raised FY26 guidance. PolyPeptide Group (PPGN.SW) also out with numbers. In the UK, Big Yellow Group (BYG.LN) out with Q1 trading statement. Craneware (CRW.LN) shares under pressure after cyber security incident involving unauthorised access to a subset of its data environment. Elsewhere, Ryanair Holdings (RYA.ID) reported Q1 earnings with net income ~ (7%) below consensus. Prysmian (PRY.IM) signed a 10-year optical cable supply agreement with Molex (Koch Inc.) worth up to €5.5B. Quadient (QDT.FP) initiates a strategic review of its Lockers business.

    • In M&A, Samsung Biologics (207940.KS) agreed to acquire PolyPeptide Group (PPGN.SW) in an all-cash deal at CHF44.31/sh. Segro (SGRO.LN) has rejected two further takeover proposals from Prologis (PLD). Eurofins Scientific (ERF.FP) to acquire Element Materials Technology's Life Sciences Testing Services Business in North America for for enterprise value of $400M.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Oil & Gas +0.98%, Media +0.29%, Technology +0.13%, Banks +0.08%, Food & Beverage (0.04%), Real Estate (0.12%)

      • Underperformers:

        • Financial Svcs (0.95%), Travel & Leisure (0.95%), Health Care (0.90%), Construct & Mtls (0.72%), Telecom (0.72%), Autos & Parts (0.71%), Basic Resources (0.70%), Retail (0.53%), Utilities (0.40%), Ind Goods & Svcs (0.38%), Chemicals (0.31%), Insurance (0.31%), Persnl & HHold Goods (0.31%)

    • Macro:

      • Central Banks:

        • Eurozone interest rate market is pricing in two additional ECB rate increases amid the recent strengthening in oil prices (Reuters)

      • Geopolitics:

        • Iranian source says mediators have proposed 10-day ceasefire in order to find path to revive interim deal -- Reuters reporter Talk To Us Send To A Friend

        • France and Germany call for emergency EU measures to shield industry from Chinese imports (FT)

      • UK:

        • Andy Burnham becomes UK prime minister, vows to 'rewire' nation on cost of living and services (Reuters)

        • Burnham eyes Foreign Office overhaul, 0.7% aid target return and progressive Middle East shift (Independent)

        • Burnham sticks to North Sea exploration ban despite cost-of-living pressures (FT)

      • Germany:

        • German producer prices rise 1.8% y/y in June, driven by intermediate goods and mineral oil products (DeStatis)

        • Germany to phase out fixed renewable subsidies and curb grid strain from solar boom (Bloomberg)

        • German chancellor Merz considers government reshuffle after Jens Spahn resignation over surrogacy (Politico)

        • Germany's strict Sunday shopping ban faces growing economic pressure for reform (link)

    • Peripheral markets:

      • Italy:

        • Portugal to buy three Fincantieri-built frigates (ANSA )

    • Company news:

      • Notable Gainers

        • +6.7% BIOVIC.B.SS (Biovica International SEK0.45, +0.03) -- DiviTum Tka order

        • +6.0% QDT.FP (Quadient €12.72, +0.72) -- strategic review of its Lockers business

        • +5.5% CCC.LN (Computacenter £48.34, +2.54) -- Berenberg upgrade

        • +4.8% PPGN.SW (PolyPeptide Group CHF43.75, +2.00) -- H1 preliminary net income ~€9M vs FactSet €4.7M [2 est, €2-7.3M]; Samsung Biologics launches tender offer to acquire PolyPeptide Group for CHF44.31/sh cash

        • +4.7% IVU.GR (IVU Traffic Technologies €22.40, +1.00) -- prelim earnings

        • +4.4% TFIN.IM (Trevi-Finanziaria Industriale €4.28, +0.18) -- I.CO.P. files offer document with CONSOB in respect of voluntary public exchange offer for Trevi-Finanziaria Industriale (18-Jul)

        • +1.2% ERF.FP (Eurofins Scientific €71.10, +0.82) -- to acquire Element Materials Technology's Life Sciences Testing Services Business in North America for enterprise value of $400M

        • +1.1% LAGR.B.SS (Lagercrantz Group SEK230.80, +2.60) -- Handelsbanken upgrade; SEB upgrade; Pareto upgrade

        • +0.9% VAC.FP (Pierre & Vacances €1.85, +0.02) -- Mubadala Capital and Pierre et Vacances sign tender offer agreement

        • +0.7% AMS.LN (Advanced Medical Solutions Group £2.81, +0.02) -- H1 Trading Update: revenue £115.2M vs year-ago £110.8M

        • +0.4% SGRO.LN (Segro £9.01, +0.03) -- rejects two further takeover offers from Prologis; Rightmove survey shows Jul price decline

      • Notable Decliners

        • -6.8% GKP.LN (Gulf Keystone Petroleum £1.63, -0.12) -- temporarily shut-in Kurdistan activity

        • -6.5% PRO.LN (ProService Building Services Marketplace plc £0.02, -0.00) -- completes refinancing; issues current trading update

        • -6.3% CRW.LN (Craneware £11.38, -0.76) -- cyber security incident

        • -4.8% RYA.ID (Ryanair Holdings €24.73, -1.24) -- Q1 EPS €0.52 vs cons €0.56; far too early to provide any meaningful FY27 PAT guidance

        • -4.6% VTY.LN (Vistry Group £2.69, -0.13) -- Rightmove survey shows July price decline

        • -4.5% TYRES.FH (Nokian Renkaat €14.57, -0.68) -- Nordea downgrade

        • -3.8% CRST.LN (Crest Nicholson Holdings £0.63, -0.03) -- Rightmove survey shows July price decline

        • -3.8% WAC.GR (Wacker Neuson €20.25, -0.80) -- CFO to step down

        • -3.7% TW.LN (Taylor Wimpey £0.80, -0.03) -- Rightmove survey shows July price decline

        • -3.7% ORNBV.FH (Orion €74.45, -2.90) -- Inderes downgrade; SEB downgrade

        • -3.5% THULE.SS (Thule Group SEK214.00, -7.80) -- Q2 EPS SEK4.98 vs FactSet SEK5.23 [8 est, SEK5.10-5.40]

        • -3.4% CRBN.NA (Corbion €19.78, -0.70) -- Oddo downgrade

        • -2.4% BEAN.SW (BELIMO Holding CHF783.00, -19.00) -- H1 net income CHF124.9M vs FactSet CHF113.6M [3 est, CHF111.7-114.7M]

        • -2.4% TIT.IM (Telecom Italia €7.66, -0.19) -- board unanimously deems Poste Italiane's offer consideration fair

        • -1.4% ABVX (Abivax $134.55, -1.98) -- re-engages Centerview to hold discussions with large-cap pharma companies -- La Lettre

        • -1.3% AIR.FP (Airbus SE €191.78, -2.54) -- SMBC Aviation Capital orders 100 Airbus A320neo Family aircraft

        • -1.0% AAL.LN (Anglo American £33.65, -0.35) -- prepared to sell De Beers business to consortium led by former CEO - FT

        • -0.3% BYG.LN (Big Yellow Group £8.77, -0.03) -- Q1 trading statement: total revenue £53.2M, +3% vs year-ago £51.5M

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: BAWAG Group (BG.AV), Telekom Austria (TKA.AV)

        • Benelux: Wereldhave (WHA.NA), CM.com (CMCOM.NA)

        • Denmark: Embla Medical hf (EMBLA.DC)

        • Finland: Wartsila (WRT1V.FH), Fortum (FORTUM.FH), Vaisala (VAIAS.FH)

        • France: Icade (ICAD.FP)

        • Germany: EuroTeleSites (7YF.GR), Mensch & Maschine Software (MUM.GR)

        • Norway: Equinor (EQNR.NO), Vår Energi (VAR.NO)

        • Other: Icelandair Group (ICEAIR.IR)

        • Sweden: Alfa Laval (ALFA.SS), Boliden (BOL.SS), Asker Healthcare Group (ASKER.SS), Hacksaw (HACK.SS), Modern Times Group MTG (MTG.B.SS), HANZA AB (HANZA.SS), MedCap (MCAP.SS), Fenix Outdoor International (FOI.B.SS), Fagerhult Group (FAG.SS), Eltel (ELTEL.SS), CTT Systems (CTT.SS), Ework Group (EWRK.SS), Embellence Group (EMBELL.SS)

        • Switzerland: Novartis (NOVN.SW), Julius Baer Group (BAER.SW), Chocoladefabriken Lindt & Spruengli (LISN.SW), Schindler Holding (SCHP.SW), ALSO Holding (ALSN.SW), Bossard Holding (BOSN.SW), CPH Group (CPHN.SW)

        • Southern Europe: ENCE Energia y Celulosa (ENC.SM), Talgo (TLGO.SM)

        • UK: MONY Group (MONY.LN), Sthree (STEM.LN), Arbuthnot Banking Group (ARBB.LN), Gateley (Holdings) (GTLY.LN)

      • Trading Update:

        • France: Maurel et Prom (MAU.FP), Sidetrade (ALBFR.FP), Delta Plus Group (ALDLT.FP), Roche Bobois (RBO.FP), La Française de l'Energie (FDE.FP), Mauna Kea Technologies (ALMKT.FP)

        • UK: Compass Group (CPG.LN), Mitie Group (MTO.LN), Kier Group (KIE.LN), Midwich Group (MIDW.LN)

      • CMD/Events: Airbus (AIR.FP)

  • Data:

    • Economics:

      • Eurozone May Construction Output +1.2% y/y consensus +0.5% and prior revised +0.2% from +0.9%

      • Germany Jun PPI +1.8% y/y vs consensus +1.8% and prior +2.2%; (0.3%) m/m vs consensus (0.2%) and prior +0.3%

      • Portugal Jun PPI +5.0% y/y vs consensus +3.8% and prior +5.1%; +0.8% m/m vs consensus (0.3%) and prior +1.0%

    • Markets:

      • WTI Crude (Aug 26): ($0.26) or (0.32%) to $82.23

      • €-$ (0.0021) or (0.19%) to 1.1410

      • £-$ (0.0030) or (0.22%) to 1.3415

      • €-£ +0.0003 to 0.8506

      • S&P 500 +0.29%

      • Performance year-to-date

        • FTSE 100: +5.97%

        • DAX: +1.45%

        • CAC: +2.34%

        • MIB: +15.39%

        • Stoxx 600: +8.01%

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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