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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.58% to 10585.91, DAX +0.66% to 25011.35, CAC40 +0.28% to 8363.14, STOXX 600 +0.56% to 643.19

Jul 21 ,2026

  • Synopsis:

    • European equity markets closed higher near best levels, following mixed performance on Monday. Technology, Basic Resources, Banks the best performers. Media, Personal Care Drug and Grocery Stores, Food, Beverage and Tobacco the main laggards.

    • No change in market narrative. Focus remains on tech volatility and Middle East tensions. Upcoming first batch of big tech earnings seen as next checkpoint. Kimi K3 competitive disruption theme continued to resonate in the meantime, increasing scrutiny of hyperscaler investments and financing (debt) implications. Moonshot AI temporarily paused new subs due to capacity strains, bolstering case for increased financing via IPO.

    • Market continues to largely ignore geopolitics as ceasefire hopes seem to be overshadowing elevated kinetic hostilities and worries about heightened supply disruptions as Houthis announced they were imposing a naval blockade on Saudi Arabia. Trump's 50% tariffs on select Canadian goods, China's push to boost stock market, potential China crackdown on export of AI technologies and return of $4 per gallon gasoline in the US also in the headlines.

    • In Europe, makeup of UK PM Burnham's cabinet getting a lot of attention. Unexpectedly appointed former defense secretary Healey as chancellor. Healey seen as a safe pair of hands and executor of policy rather than a driver of policy. Held roles in the Treasury between 2002 and 2007. Fits in with expectation that Burnham's team will have a big influence on economic policy rather than the Treasury. UK government announced cut in electricity bills via removal of VAT from 1-Oct.

    • On data front, UK labor market update pointed to stabilization in job market and softening in wage growthwhen including bonus. Public sector borrowing lower than forecast, which is encouraging as new government looks at providing cost of living support. ZEW sentiment saw notable improvement in Eurozone and German reading. ECB bank lending survey saw tightening in credit conditions, while there was a slight increase in loan demand for businesses. Swiss watch exports increased for the second month in a row in June, by ~11.2% in June.

    • In corporate news flow, busy morning out of DACHs with Novartis (NOVN.SW), Swatch Group (UHR.SW), Chocoladefabriken Lindt & Spruengli (LISN.SW), Julius Baer Group (BAER.SW) out with latest numbers. Jungheinrich (JUN3.GR) shares under pressure after BaFin initiated 2025 financial statements review. In the UK, Compass Group (CPG.LN), MONY Group (MONY.LN), Mitie Group (MTO.LN) and Wickes Group (WIX.LN) out with latest update; Mitie also announced offer by OCS Group to acquire entire issued and to be issued share capital of Mitie at 221.6pence in cash. In the Nordics, Modern Times Group MTG (MTG.B.SS), Wartsila (WRT1V.FH), Alfa Lava (ALFA.SS) and Fortum (FORTUM.FH).

    • In M&A news, Vår Energi (VAR.NO) to combine with BlueNord (BNOR.NO). Prologis (PLD) remains willing to engage with Segro (SGRO.LN). Media reports Volkswagen (VOW3.GR) in advanced talks to sell stake in India unit to JSW Group.

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 20-Jul to 24-Jul attached) Royal KPN (KPN.NA), Akzo Nobel (AKZA.NA), Kone (KNEBV.FH), Kesko (KESKOB.FH), Dassault Aviation (AM.FP), Gecina (GFC.FP), Valeo (FR.FP), Alstom (ALO.FP), SEB (SK.FP), UniCredit (UCG.IM), Moncler (MONC.IM), Norsk Hydro (NHY.NO), Banco Santander (SAN.SM), Iberdrola (IBE.SM), Svenska Cellulosa (SCA.B.SS), SSAB (SSAB.A.SS), Lonza Group (LONN.SW), and VAT Group (VACN.SW) will be amongst other names to update investors, whilst the macro-calendar releases will include UK Jun CPI, RPI, PPI input/output PPI, Ireland Jun PPI.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Technology +2.05%, Basic Resources +1.68%, Banks +1.61%, Energy+1.48%, Ind Goods & Svcs +0.94%,

      • Underperformers:

        • Media (1.37%), Personal Care Drug and Grocery Stores (1.37%), Food, Beverage and Tobacco (1.35%), Real Estate (1.06%), Consumer Products and Services (0.71%), Insurance (0.54%), Travel & Leisure (0.48%), Telecom (0.42%), Financial Svcs (0.37%), Chemicals (0.34%), Utilities (0.33%), Retail (0.25%), Construct & Mtls +0.10%, Health Care +0.20%,

    • Macro/Peripheral markets:

      • Geopolitics

        • Natural gas prices surge as violence in Middle East flares again - Politico

        • US launches fresh strikes on Iran, as Trump warns of retaliation for deaths of soldiers - BBC

        • Trump prepares fresh tariff barrage with 10% levies set to expire - FT

      • EU

        • EU tech tsar spars with justice chief over new online rule book - FT

        • Euro-Zone Banks Further Tighten Companies' Credit Standards - Bloomberg

      • UK

        • Andy Burnham says his will be a 'cost-of-living government' in first cabinet meeting as PM - The Guardian

        • Private sector pay suffers worst growth since Covid - The Telegraph

        • New UK defence minister calls Russia's military exercise off the UK coast 'irresponsible' - Reuters

        • UK borrowing falls in early boost for Healey - The Times

      • France

        • French environment minister to resign after passage of controversial farm bill - Politico

        • France set to ban social media for under-15s, a first in the EU - Le Monde

      • Germany

        • Tax revenues of the federal and state governments fall in June - Handelsblatt

    • Company news:

      • Trading Higher:

        • +38.9% MTO.LN (Mitie Group £2.10, +0.59) --

          • OCS to acquire entire issued and to be issued share capital of company at 221.6pence in cash

          • Q1 earnings

          • suspends £100M share buyback programme

        • +30.2% IQE.LN (IQE £0.46, +0.11) -- H1 trading update

        • +17.8% ALDVI.FP (Advicenne €1.68, +0.25) -- announces Sibnayal is now reimbursed in Spain for treatment of distal Renal Tubular Acidosis

        • +12.3% MCAP.SS (MedCap SEK561.50, +61.40) -- Q2 earnings

        • +12.2% ALVU.FP (Vente-Unique.com €16.60, +1.80) -- 9M revenue

        • +10.6% MIDW.LN (Midwich Group £1.45, +0.14) -- H1 trading update

        • +10.6% BANB1.SW (Bachem Holding CHF77.55, +7.45) -- to invest more than CHF500M to build large-scale peptide production facility in Sisslerfeld

        • +9.4% BOSN.SW (Bossard Holding CHF221.00, +19.00) -- H1 earnings

        • +8.3% GTLY.LN (Gateley (Holdings) £0.59, +0.04) -- FY earnings; CEO to step down

        • +6.9% BNOR.NO (BlueNord NOK510.00, +33.00) -- Vår Energi and company issue presentation about their combination plan

        • +6.2% BEAN.SW (BELIMO Holding CHF831.00, +48.50) -- Jefferies downgrade

        • +6.1% MTG.B.SS (Modern Times Group MTG SEK126.60, +7.20) -- Q2 earnings

        • +5.7% GF.SW (Georg Fischer CHF52.80, +2.85) -- UBS upgrade

        • +5.2% NOKIA.FH (Nokia €9.39, +0.47)

        • +5.2% DRW3.GR (Drägerwerk €95.80, +4.80) -- raises FY outlook

        • +4.9% ASML.NA (ASML Holding €1,596.00, +73.80)

        • +4.8% NET.LN (Netcall £1.19, +0.05) -- FY trading update

        • +4.5% BAB.LN (Babcock International Group £10.85, +0.47) -- UK defense stocks trading higher after new UK PM appoints former defence secretary Healey as chancellor

          • +3.6% QQ.LN (QinetiQ Group £4.67, +0.16) --

          • +1.7% LDO.IM (Leonardo €50.76, +0.87) --

        • +4.5% VIRP.FP (Virbac €339.00, +14.50) -- prelim Q2 revenue

        • +4.4% KIE.LN (Kier Group £2.33, +0.10) -- FY trading update

        • +4.1% PRY.IM (Prysmian €130.30, +5.15)

        • +3.4% EMBLA.DC (Embla Medical hf DKK27.25, +0.90) -- Q2 earnings

        • +3.3% MAU.FP (Maurel et Prom €8.18, +0.26) -- H1 activity

        • +3.0% FRES.LN (Fresnillo £25.33, +0.73)

        • +2.7% GEN.LN (Genuit Group £2.73, +0.07) -- initiated buy at Stifel

        • +2.4% ARBB.LN (Arbuthnot Banking Group £8.50, +0.20) -- H1 earnings

        • +1.8% RDC.GR (Redcare Pharmacy €69.45, +1.25)

      • Trading Lower:

        • -16.1% PREC.SS (Precise Biometrics SEK1.41, -0.27) -- resolves on a SEK110M rights issue following merger with Fingerprint Cards

        • -8.3% DIM.FP (Sartorius Stedim Biotech €165.70, -14.90) -- Danaher sympathy

          • -8.0% SRT3.GR (Sartorius €218.40, -19.00) --

        • -8.2% UHR.SW (Swatch Group CHF188.05, -16.65) -- H1 earnings

        • -5.7% BOL.SS (Boliden SEK477.20, -29.00) -- Q2 earnings

        • -5.4% SCHP.SW (Schindler Holding CHF256.00, -14.60) -- Q2 earnings

        • -5.0% ELTEL.SS (Eltel SEK12.30, -0.65) -- Q2 earnings

        • -4.0% WIE.AV (Wienerberger €21.38, -0.90) -- prelim Q2 earnings

        • -4.0% BAER.SW (Julius Baer Group CHF70.62, -2.92) -- H1 earnings

        • -3.5% EVO.SS (Evolution SEK689.40, -24.80) -- gives notice of termination of merger agreement with Galaxy Gaming

        • -3.3% GBG.LN (GB Group £2.19, -0.07) -- AGM trading statement

        • -3.2% MONY.LN (MONY Group £1.98, -0.06) -- H1 earnings

        • -3.2% ALSN.SW (ALSO Holding CHF198.60, -6.50) -- H1 earnings

        • -3.1% MUV2.GR (Munich Re €500.20, -16.20)

        • -2.9% SGRO.LN (Segro £8.76, -0.26) -- Prologis remains willing to engage with company

        • -2.3% ERF.FP (Eurofins Scientific €69.50, -1.62)

        • -2.1% STORY.B.SS (Storytel SEK88.60, -1.85)

        • -2.1% BT.A.LN (BT Group £1.93, -0.04) -- Undisclosed BT Group holder launches sale of ~85M BT shares -- Reuters

        • -2.1% CPG.LN (Compass Group $30.91, -0.67) -- Q3 trading update

        • -1.9% WRT1V.FH (Wartsila €30.04, -0.57) -- Q2 earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Royal KPN (KPN.NA), Akzo Nobel (AKZA.NA), Randstad (RAND.NA)

        • Denmark: DSV (DSV.DC)

        • Finland: Kone (KNEBV.FH), Kesko (KESKOB.FH), Hiab (HIAB.FH), Kalmar (KALMAR.FH), Tieto Corporation (TIETO.FH), Finnair (FIA1S.FH), Atria (ATRAV.FH)

        • France: Dassault Aviation (AM.FP), Gecina (GFC.FP), Valeo (FR.FP), SEB (SK.FP), OPmobility (OPM.FP), Ipsos (IPS.FP), Fnac Darty (FNAC.FP), GL Events (GLO.FP)

        • Germany: Grupo Comercial Chedraui SAB de CV (2GCB.GR), flatexDEGIRO (FTK.GR)

        • Italy: UniCredit (UCG.IM), Moncler (MONC.IM)

        • Norway: Norsk Hydro (NHY.NO)

        • Spain: Banco Santander (SAN.SM), Iberdrola (IBE.SM), Naturgy Energy Group (NTGY.SM), Enagas (ENG.SM), Metrovacesa (MVC.SM), Global Dominion Access (DOM.SM)

        • Sweden: Svenska Cellulosa (SCA.B.SS), SSAB (SSAB.A.SS), Sinch (SINCH.SS), Medicover (MCOV.B.SS), NCAB Group (NCAB.SS), Electrolux Professional (EPRO.B.SS), Dynavox Group (DYVOX.SS), Kambi Group (KAMBI.SS), Swedencare (SECARE.SS), Hansa Biopharma (HNSA.SS), Cint Group (CINT.SS)

        • Switzerland: Lonza Group (LONN.SW), VAT Group (VACN.SW), EFG International (EFGN.SW), Temenos (TEMN.SW)

        • UK: FRP Advisory Group (FRP.LN), Reach (RCH.LN)

      • Trading Update:

        • France: Alstom (ALO.FP), SEB (SK.FP), ID Logistics Group (IDL.FP), Synergie (SDG.FP), HighCo (HCO.FP)

        • UK: Fresnillo (FRES.LN), Greencore Group (GNC.LN), SigmaRoc (SRC.LN), JD Wetherspoon (JDW.LN), PensionBee Group (PBEE.LN), Liontrust Asset Management (LIO.LN)

  • Data:

    • Economics:

      • UK Jun Claimant Count Change +6.7K vs consensus +29.4K and prior revised +1.3K from +31.2K

      • Germany Jul ZEW Economic Sentiment Indicator 26.3 vs consensus 18.0 and prior 10.5

      • Switzerland Jun Trade Balance CHF5.22B vs prior CHF5.99B revised from CHF6.11B

      • Spain May Trade Balance (€8.2B) vs prior (€5.2B)

      • June Swiss Watch Exports 11.2% to CHF 2.39B

    • Markets:

      • WTI Crude (Aug 26): +$1.93 or +2.32% to $85.16

      • €-$ (0.0003) or (0.03%) to 1.1411

      • £-$ (0.0055) or (0.41%) to 1.3377

      • €-£ +0.0031 to 0.8529

      • S&P 500 +0.77%

      • Performance year-to-date

        • FTSE 100: +6.59%

        • DAX: +2.13%

        • CAC: +2.62%

        • MIB: +16.33%

        • Stoxx 600: +8.61%

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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