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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.35%) to 10862.50, DAX +0.02% to 26323.88, CAC40 +0.13% to 8726.03, STOXX 600 +0.03% to 660.45

Aug 10 ,2026

  • Synopsis:

    • European equities finished mixed. Cyclicals like tech, miners and energy the best performers. Defensives like media and telecom the biggest laggards.US equities slightly lower in midday trading. Treasuries slightly weaker with yields up 2-4 bp. UK 10-year yield up 4 bps to 4.96%, while German 10-year yield up 2 bps to 3.17%. Dollar index up 0.2%; yen weakness biggest FX story. Gold down 0.3%. Silver up 0.9%. Bitcoin futures down 0.1%. WTI crude up 1.7% after losing more than 7.5% last week.

    • Market seeing a very modest rotation with a bit of cyclical outperformance and defensive underperformance despite higher oil, yield backdrop. Latest US/Iran updates have leaned somewhat hawkish, with US seemingly shifting its focus to the economic pain it is inflicting on Iran, while Tehran has insisted that while an SoH reopening deal with Oman is close, it is conditional on US permanently ending war, lifting naval blockade, unfreezing assets and paying war reparations. Another big macro week ahead with Jul CPI the highlight on Wednesday. Strong Q2 European earnings another area of focus in the press. Also some more discussion about recent signals from Treasury Secretary Bessent aimed at preventing a further backup in long-term rates, along with some renewed scrutiny surrounding private credit.

    • Light data calendar today. EU Sentix investor confidence survey returned to positive territory in August, posting the fourth consecutive gain. In the UK, a REC/KPMG survey showed permanent staff placements held steady after 45 months of decline-the longest downturn on record.

    • In politics, investor and industry pushback against potential Burnham-era tax increases intensifying, but early evidence suggests government may be more constrained than rhetoric implies. RBC BlueBay flagged sterling risk from possible council-tax overhaul targeting southern England, warning weaker house prices - already evident in South East - historically pressure the pound (Telegraph). Burnham floated "fairness" adjustments but has explicitly ruled out a full land-value-tax replacement, citing lack of mandate.

    • In earnings/trading updates, Aryzta (ARYN.SW) shares closed ~ (11%) on the back of its H1 earnings. GEA (G1A.GR) confirmed prelim Q2/H1 earnings and FY26 outlook as per 21-Jul update and increased outlook for full year 2026. In the UK, Plus500 (PLUS.LN) shares higher following H1earnings and new $100M share buyback programme.

    • Amidst limited M&A news flow, Sitowise Group (SITOWS.FH) completed sale of Sitowise Sverige, Novonesis (NSIS.B.SS) to acquire remaining share of MicroBioGen, Nolato (NOLA.B.SS) agreed to acquire M&M Qualtech and Aryzta (ARYN.SW) reviewing all options for Germany.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Oil & Gas +1.29%, Basic Resources +0.94%, Health Care +0.33%, Technology +0.32%, Banks +0.16%, Ind Goods & Svcs +0.07%

      • Underperformers:

        • Telecom (2.11%), Media (1.62%), Travel & Leisure (0.89%), Utilities (0.85%), Real Estate (0.70%), Food & Beverage (0.69%), Construct & Mtls (0.65%), Autos & Parts (0.42%), Chemicals (0.22%), Persnl & HHold Goods (0.20%), Retail (0.10%), Financial Svcs (0.06%), Insurance (0.04%)

    • Macro:

      • Economy:

        • Eurozone growth forecast raised to 0.8% for 2026 after resilience to Iran conflict (Bloomberg)

      • Markets:

        • Europe's stock rally is gaining traction and looking more durable, supported by fundamentals (Bloomberg)

      • UK:

        • UK hiring stabilizes in July for the first time since the 2022 Liz Truss crisis (Bloomberg)

        • PM Burnham targets misleading retail discounts and accelerates crackdown on subscription traps (FT)

        • Burnham launches nationwide cost-of-living tour as prison early-release policy draws scrutiny (Bloomberg)

        • UK raises lifetime cost of Palantir NHS data platform to £1.1B while cutting forecast benefits (FT)

      • Germany:

        • German economy minister warns AfD's rise could deter investors (FT)

        • Germany faces daily hybrid attacks from foreign powers, minister warns after explosive drone found at Leipzig Airport (Politico)

    • Peripheral markets:

      • Italy:

        • Meloni hardens tone on migration and security to counter rising far-right rival Vannacci (Politico)

      • Spain:

        • Italy keeps Schengen controls on Spain until 15-August while Germany prepares migrant returns to Italy and Greece under new EU pact (Corriere)

        • Thousands protest in Ceuta after 10 days of mass migrant influx (ElPais)

      • Romania:

        • To keep rates at EU's highest level on political woes (Bloomberg )

      • Hungary:

        • Hungarian central banker touts benefits of joining Euro area (Bloomberg )

    • Company news:

      • Notable Gainers

        • +21.5% IPH.FP (Innate Pharma €1.83, +0.32) -- new CMO; strategic partnership with Swedish Orphan Biovitrum for TELLOMAK-3 study in cutaneous T cell lymphoma

        • +11.6% JLP.LN (Jubilee Metals Group £0.03, -0.00) -- two binding offers for its Large Waste Project (LWP) in Zambia

        • +10.6% QLINEA.SS (Q-linea SEK19.75, +1.90) -- ASTar contract

        • +4.3% SQZ.LN (Serica Energy £2.39, +0.10) -- Serica Energy will not increase its offer

        • +3.9% SGG.SS (Sensys Gatso Group SEK41.35, +1.55) -- contract SEK38M

        • +3.9% SANION.SS (Saniona SEK14.02, +0.52) -- receives series A shares from AstronauTx for $5M under 2023 Research Collaboration and Option Agreement

        • +2.5% LIKE.LN (Likewise Group £0.30, +0.01) -- announces purchase of a new High Bay Distribution Hub in Corby has exchanged for a total consideration of £9.57M

        • +2.1% PLUS.LN (Plus500 £38.36, +0.80) -- H1 EPS $2.17 vs year-ago $2.05; FY results expected to be in-line with current market expectations; $100.0M share buyback announced

        • +2.0% ALCOX.FP (Nicox €0.39, +0.01) -- NCX 470 NDA submission in China by partner Ocumension

        • +1.9% NICL.LN (Nichols £10.60, +0.20) -- acquires 100% of VITHIT Limited and its subsidiaries for a total cash consideration of €75.0M; will enhance EPS and therefore DPS from FY27 onwards

        • +1.2% NOLA.B.SS (Nolato SEK49.20, +0.60) -- to acquire M&M Qualtech for an undisclosed sum

        • +0.7% ASM.NA (ASM International €859.60, +5.60) -- starts share buyback program of up to €150M

        • +0.5% AIR.FP (Airbus SE €214.65, +1.05) -- Jul gross orders 204 aircraft, 67 aircraft deliveries to 39 customers

        • +0.5% G1A.GR (GEA Group €64.10, +0.30) -- confirms prelim Q2/H1 earnings and FY26 outlook as per 21-Jul update

      • Notable Decliners

        • -25.4% AB.FP (AB Science €0.75, -0.25) -- €14.2M capital raise

        • -12.2% VTY.LN (Vistry Group £2.49, -0.35) -- Credit insurer Allianz Trade reducing cover it extends to suppliers of Vistry -- FT

        • -11.2% ARYN.SW (Aryzta CHF46.80, -5.90) -- H1 net income €45.1M vs FactSet €43.7M [3 est, €36-51.2M]; reviewing all options for Germany

        • -9.1% STAB1L.GR (Stabilus €15.62, -1.56) -- CFO resigns

        • -6.9% PHAR.LN (Pharos Energy £0.31, -0.02) -- Serica Energy (SQZ.LN) updates on Pharos acquisition

        • -6.8% MSLH.LN (Marshalls £1.69, -0.12) -- H1 adj EPS 7.6p vs year-ago 6.6p; no material market recovery assumed in H2 2026; FY26 profitability expectations unchanged

        • -4.8% CCH.LN (Coca-Cola HBC £47.24, -2.36) -- BNP Paribas Exane downgrade

        • -3.5% ALBPS.FP (Biophytis €0.03, -0.00) -- Phase 2 OBA clinical trial approved in Brasil

        • -2.2% MING.NO (SpareBank 1 SMN NOK196.72, -4.43) -- Pareto downgrade

        • -1.9% HYQ.GR (Hypoport €86.15, -1.65) -- final Q2/H1 earnings: EPS €0.78 vs year-ago €0.72; reaffirms FY guidance

        • -1.6% LGEN.LN (Legal & General Group £3.11, -0.05) -- Citi downgrade

        • -1.5% AMUN.FP (Amundi €95.30, -1.45) -- Deutsche Bank downgrade

        • -1.4% NSIS.B.DC (Novonesis DKK421.00, -5.90) -- to acquire remaining share of MicroBioGen; terms of the transaction will not be disclosed

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: TKH Group (TWEKA.NA)

        • Denmark: Demant (DEMANT.DC), ISS (ISS.DC), H+H International (HH.DC)

        • Finland: Ponsse (PON1V.FH), Remedy Entertainment (REMEDY.FH)

        • Germany: Uniper (UN0.GR), Deutsche Wohnen (DWNI.GR), RTL Group (RRTL.GR), Salzgitter (SZG.GR), TAG Immobilien (TEG.GR), Jungheinrich (JUN3.GR), Frequentis (FQT.GR), CANCOM (COK.GR), Norma Group (NOEJ.GR)

        • Norway: Wallenius Wilhelmsen (WAWI.NO), Sparebanken Norge (SBNOR.NO)

        • Other: CEZ (CEZ.CP), Enerjisa Enerji (ENJSA.E.TI)

        • Switzerland: Tecan Group (TECN.SW), Bell Food Group (BELL.SW)

        • Sweden: Storskogen Group (STOR.B.SS), RVRC Holding (RVRC.SS), Catena Media (CTM.SS)

        • UK: InterContinental Hotels Group (IHG.LN), Spirax Group (SPX.LN), Lion Finance Group (BGEO.LN), International Workplace Group (IWG.LN), Atalaya Mining (ATYM.LN), Genuit Group (GEN.LN)

      • Trading Update:

        • France: Hexaom (ALHEX.FP)

        • UK: Bellway (BWY.LN)

      • Traffic: Heathrow Airport (+HTR.LN), Aeroflot-Russian Airlines (AFLT.RU)

  • Data:

    • Economics:

      • Eurozone Aug Sentix Investor Confidence +0.9 vs cons (0.7) and prior (3.1)

      • Austria Jun Industrial Production 0.0% y/y vs cons +0.5% and prior +0.7%

      • Denmark

        • Jun Trade Balance DKK28.7B vs cons DKK29.0B and prior revised DKK25.8B from DKK28.9B T

        • Jul CPI +1.7% y/y vs cons +0.9% and prior +1.9%; +1.3% m/m vs cons +0.5% and prior +0.2%

          • EU Harmonised: +1.6% y/y vs cons +0.8% and prior +1.8%

      • Finland Jun Industrial Production +4.5% y/y vs cons +1.1% and prior revised +0.4% from +0.6%

      • Greece Jun Industrial Production +1.1% y/y vs cons +1.8% and prior +3.9%

      • Netherlands Jun Manufacturing Production (1.3%) m/m vs cons +0.3% and prior revised +1.1% from +0.1%

      • Norway Jul

        • Jul CPI +3.0% y/y vs cons +2.5% and prior +2.7%; +1.0% m/m vs cons +0.5% and prior (0.2%)

        • PPI +23.4% y/y vs cons +14.5% and prior +14.9%

      • Sweden Jun Industrial Production (1.5%) y/y vs cons +5.9% and prior revised +7.6% from +6.9%; (0.4%) m/m vs cons (0.6%) and prior revised+0.2% from +0.6%

    • Markets:

      • WTI Crude (Sep 26): +$2.93 or +3.75% to $81.11

      • €-$ (0.0019) or (0.16%) to 1.1549

      • £-$ +0.0030 or +0.22% to 1.3527

      • €-£ (0.0031) to 0.8538

      • S&P 500 +0.03%

      • Performance year-to-date

        • FTSE 100: +9.38%

        • DAX: +7.49%

        • CAC: +7.07%

        • MIB: +19.40%

        • Stoxx 600: +11.53%

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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