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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.21%) to 10750.11, DAX +0.53% to 26440.31, CAC40 (0.16%) to 8636.80, STOXX 600 (0.21%) to 657.86

Aug 14 ,2026

  • Synopsis:

    • European equity markets ended mixed with pan-European indices failing to sustain the move higher and gradually reversing earlier gains. Media, insurance, oil & gas the best performing sectors, while healthcare, utilities and basic resources the main laggards.

    • Risk appetite remains mostly positive, with pullback in Fed rate hike expectations a supportive factor in the last couple of sessions. Softer-than-expected US PPI put more traction behind disinflation narrative following in-line CPI. Markets have wound back September Fed rate hike odds to around 30% from 50% earlier in the week. No diplomatic progress on US-Iran situation. US sending fresh aircraft carrier to region. Treasury Secretary Bessent flagged unprecedented economic action against Iran next week as White House renews economic pressure campaign in lieu of restarting hostilities.

    • Back in Europe, a quiet macro calendar included German wholesale prices firmed up in July, while French final CPI in line with flash. Eurozone second Q2 GDP estimate unchanged from flash at 0.4%. Swiss Q2 GDP beat forecast with highest quarterly growth rate in five years at 1.5%. German press discusses country's export boom to eastern Europe helping to mitigate impact of slump in trade with the US and China.

    • In other news, BoE's Chief Economist Pill said stronger-than-expected GDP figures reinforced the case for higher borrowing costs. Reform UK leader Farage was re-elected in the Clacton by-election with 62.8% of the vote but could face another election if an ethics enquiry finds that he violated rules over a donation.

    • In corporate news, EnergieKontor (EKT.GR) sharply cut 2026 earnings guidance, with expected pretax profit reduced to €5-10M from €40-60M. Nagarro (NA9.GR), SFC Energy (F3C.GR) and Talanx (TLX.GR) reported their most recent numbers. Also in the DACH region, Norma Group (NOEJ.GR) announced a up to 9.3M off-market share buyback at €22.35/share Out of the Nordics, DFDS (DFDS.DC) raised full-year EBIT guidance to DKK1.2-1.4B and revenue-growth expectations to 3-5%; Q2 revenue slightly exceeded consensus while EBIT matched. NKT A/S (NKT.GR) Q2 on track despite weaker revenues, as 500bp y/y Transmission margin improvement and strong GS&A activity drove underlying EBITDA 6% above expectations. In the UK, Aviva (AV.LN) reported H1 numbers including EPS 31.8p vs FactSet 30.5p said it is on track to deliver its three-year Group targets. In other corporate headlines, Valneva (VLA.FP) shares rallied today following EMA's validation of the Marketing Authorization Application (MAA) for PF-07307405, the companies' 6-valent outer surface protein A (OspA)-based Lyme disease vaccine candidate and will begin its assessment of the application.

    • On M&A front, Diversified Energy (DEC.LN) confirmed that it has had preliminary discussions concerning a possible acquisition of Eliott-owned Birch Resources.

    • The week ahead sees Riksbank interest rate decision, Eurozone, France, Germany, UK Aug preliminary manufacturing/services PMIs, UK Jul inflation data, Germany Aug ZEW survey as well as earnings/updates from Aegon (AGN.NA), Carlsberg (CARL.B.DC), Coloplast (COLO.B.DC), Geberit (GEBN.SW), Hays (HAS.LN), JD Sports Fashion (JD.LN), Orkla (ORK.NO) and Straumann Holding (STMN.SW).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers

        • Media +1.12%, Insurance +0.90%, Oil & Gas +0.57%, Telecom +0.52%, Autos & Parts +0.40%, Ind Goods & Svcs +0.29%, Banks +0.22%, Chemicals +0.17%, Financial Svcs +0.10%, Travel & Leisure (0.01%), Technology (0.03%)

      • Underperformers

        • Health Care (1.50%), Basic Resources (1.24%), Utilities (1.08%), Persnl & HHold Goods (0.88%), Food & Beverage (0.50%), Construct & Mtls (0.41%), Real Estate(0.36%), Retail (0.28%)

    • Macro/Peripheral markets:

      • Geopolitics

        • Trump allows overseas US Navy shipbuilding and orders return to steam catapults - Reuters

        • Ukraine sends Russia Black Sea ceasefire proposal as Russian port blockades threaten broader food supply - Reuters

      • Central banks

        • BoE chief economist Pill says stronger UK growth supports higher rates to return inflation to target - Reuters

      • UK

        • Parliamentary investigation resumes into Farage hours after he wins Clacton by-election - BBC

        • War and tax: How the UK economy could get knocked off course - City AM

        • Andy Burnham moves to cut new EV sales targets - The Guardian

      • Germany

        • Can Germany teach Europe how to prevent wildfires? - DW

      • France

        • French court shoots down social media ban for under 15s - Politico

      • Spain

        • The surge in energy prices threatens to persist after the end of the government's energy price support measures - El Pais

    • Company news:

      • Notable Gainers

        • +22.2% VLA.FP (Valneva €3.00, +0.55) -- Lyme disease vaccine application validated by EMA for review

        • +13.2% DFDS.DC (DFDS DKK154.80, +18.10) -- Q2 earnings; strategy review; Jul Freight volume

        • +10.5% SATS.NO (SATS ASA NOK44.75, +4.25) -- Q2 earnings

        • +10.3% ANORA.FH (Anora Group €3.98, +0.37) -- Q2 earnings; non-binding LoI with Bacardi on strategic distribution agreement in Sweden and Norway

        • +9.0% AZT.NO (ArcticZymes Technologies NOK21.20, +1.75) -- Q2 earnings

        • +8.9% SBS.GR (Stratec €21.95, +1.80) -- Q2 earnings

        • +8.7% MAERSK.B.DC (Maersk DKK20,700.00, +1,665.00) -- commences second DKK 3.15B tranche; Nordea upgrade

        • +7.9% NOEJ.GR (Norma Group €20.70, +1.52) -- 9.3M off-market share buyback at €22.35/share

        • +7.7% VZN1.SW (VZ Holding CHF175.40, +12.60) -- H1 earnings

        • +6.9% KOMN.SW (Komax Holding CHF78.70, +5.10) -- Kepler Cheuvreux upgrade

        • +6.9% IVSO.SS (INVISIO SEK240.80, +15.60) -- CAF framework agreement with potential value up to SEK450M

        • +6.8% SCHO.DC (Schouw & Co DKK680.00, +43.00) -- Q2 earnings; share buy-back programme increased to up to DKK410M

        • +6.6% GMM.GR (Grammer €11.30, +0.70) -- H1 earnings

        • +5.7% OLVAS.FH (OLVI €33.65, +1.80) -- Q2 earnings

        • +5.6% VEI.NO (Veidekke NOK199.20, +10.60) -- Q2 earnings

        • +5.6% CHRT.LN (Cohort £14.28, +0.76) -- €140.7M contract

        • +5.4% BTS.B.SS (BTS Group SEK183.80, +9.40) -- Q2 earnings

        • +4.8% PAGE.LN (Michael Page £2.04, +0.09) -- UBS upgrade

        • +3.8% TLX.GR (Talanx €118.80, +4.30) -- Q2 earnings

        • +3.2% RHM.GR (Rheinmetall €1,201.80, +37.20) -- contract

        • +3.1% DOFG.NO (DOF Group NOK134.40, +4.00) -- contract

        • +2.9% NETC.DC (Netcompany Group DKK336.40, +9.40) -- Handelsbanken upgrade

        • +2.0% SQN.SW (Swissquote Group Holding CHF37.54, +0.74) -- Kepler Cheuvreux upgrade

        • +1.5% HYQ.GR (Hypoport €86.00, +1.25) -- €10M buyback

      • Notable Decliners

        • -30.9% GBG.LN (GB Group £1.60, -0.72) -- lowers FY revenue outlook

        • -17.5% EKT.GR (EnergieKontor €26.55, -5.65) -- adjusts FY26 earnings guidance

        • -15.5% IPH.FP (Innate Pharma €1.85, -0.34) -- ~€27M equity raises

        • -12.1% GARO.SS (GARO SEK11.48, -1.58) -- Q2 earnings

        • -7.4% BOOZT.SS (Boozt Fashion SEK149.70, -12.00) -- Q2 earnings

        • -7.0% HFG.GR (HelloFresh €3.10, -0.23) -- Barclays downgrade

        • -5.3% BORG.SS (Bjorn Borg SEK62.60, -3.50) -- Q2 earnings

        • -3.5% OPTOMED.FH (Optomed €1.64, -0.06) -- Q2 earnings

        • -3.4% CLAS.B.SS (Clas Ohlson SEK424.40, -15.00) -- SEB downgrade

        • -3.3% NFN.GR (NFON €3.54, -0.12) -- prelim.Q2 earnings

        • -3.2% ADN1.GR (adesso €58.20, -1.90) -- Q2 earnings

        • -1.7% SEA1.NO (Sea1 Offshore NOK29.50, -0.50) -- Q2 earnings

    • EU companies reporting on Monday:

      • Earnings:

        • Nordics: Royal Unibrew (RBREW.DC), Trifork Holding (TRIFOR.DC), Brødrene A & O Johansen (AOJ.B.DC)

        • UK: Optima Health (Great Britain) (OPT.LN)

  • Data:

    • Economics:

      • Finland Jul CPI +2.1% y/y vs consensus +2.1% and prior +2.1%; +0.2% m/m vs consensus +0.2% and prior (0.2%)

      • France Jul CPI +2.1% y/y vs preliminary +2.1%; +0.6% m/m vs preliminary +0.6%

      • Switzerland Q2 preliminary GDP +1.5% q/q vs consensus +0.5% and prior +0.4%

      • Eurozone

        • Q2 GDP +1.0% y/y vs preliminary +1.0%; +0.4% q/q vs preliminary +0.4%

        • Jun Trade Balance €8.6B vs consensus (€2.2B) and prior revised (€9.0B) from (€7.8B)

    • Markets:

      • WTI Crude (Sep 26): +$0.53 or +0.65% to $81.78

      • €-$ +0.0054 or +0.47% to 1.1585

      • £-$ +0.0067 or +0.50% to 1.3552

      • €-£ (0.0002) to 0.8549

      • S&P 500 (0.19%)

        • Performance year-to-date

        • FTSE 100: +8.24%

        • DAX: +7.96%

        • CAC: +5.98%

        • MIB: +19.22%

        • Stoxx 600: +11.09%

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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