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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.64% to 10816.56, DAX +0.59% to 26136.56, CAC40 +0.37% to 8484.43, STOXX 600 +0.59% to 654.18

Aug 21 ,2026

  • Synopsis:

    • European equity markets closed higher, with miners the best performers on the session. Autos and retail also among notable gainers. Energy and utilities the main laggards. Follows softer performance on Thursday.

    • Narrative on European equities still constructive citing economic resilience, clearer monetary policy outlook, limited exposure to AI-driven volatility, broad earnings strength and diversification benefits. However, the upward pressure in bond yields was a big talking point this week, with the move increasingly tied to a combination of higher energy-driven inflation risks, heavier fiscal borrowing, political risk and the US Treasury's bond buyback plan.

    • ECB consumer expectations survey saw slight easing in inflation expectations and wage outlook, while economic growth expectations less negative. Also, ECB says pay growth eased in Q2, providing some relief. Nevertheless, Chief Economist Lane warned inflation could remain around 3% through 2026 as the Iran conflict keeps energy and food prices elevated.

    • On macro data front, Eurozone PMI surprised on the upside with manufacturing growth accelerating, and services sector holding up, while consumer confidence edged higher but remained subdued. UK PMI also beat on services sector strength. Meanwhile, French business confidence jumped in July. GfK UK consumer confidence hit two-year high but retail sales weakened after prior increase. UK public sector borrowing came in firmer than expected.

    • In earnings news, Bavarian Nordic (BAVA.DC) reported robust Q2 earnings and raised FY revenue guidance. In Sweden, NIBE Industrier (NIBE.B.SS) posted a solid Q2, with management reaffirming confidence in achieving 13-15% FY operating margin target. In the UK, Hunting (HTG.LN) reported in-line H1 results but trimmed FY 2026 EBITDA guidance slightly. Also in the UK, Kazatomprom (KAP.LN) issued H1 results with strong EBITDA.

    • In M&A, Banca Monte dei Paschi di Siena (BAMI.IM) launched dual all-share takeover offers totalling €34B for Banco BPM (BMPS.IM) at market value and Banca Generali (BGN.IM) at a 10% premium, aiming to create Italy's largest financial group with €810B in total financial assets.

    • Looking ahead to next week, the EU economic calendar is quiet on Monday, with no major releases expected.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +2.49%, Autos & Parts +1.36%, Retail +0.98%, Persnl & HHold Goods +0.95%, Banks +0.88%, Technology +0.82%, Health Care +0.72%, Real Estate +0.68%, Ind Goods & Svcs +0.65%, Food & Beverage +0.65%, Financial Svcs +0.61%

      • Underperformers:

        • Oil & Gas (0.68%), Utilities (0.39%), Telecom +0.04%, Construct & Mtls +0.42%, Chemicals +0.46%, Insurance +0.46%, Travel & Leisure +0.50%, Media +0.53%

    • Macro:

      • Central banks

        • ECB Well Placed to Act on 'Uncomfortable' Inflation, Kazaks Says - Bloomberg

        • SNB's Tschudin says SNB would cut rates below 0% if inflation required it - FuW

      • EU:

        • China slams EU foreign subsidies rules, links them to trade talks -- Politico

      • UK:

        • UK reports unexpected deficit of £1.8B as John Healey prepares for first budget -- Guardian

        • UK retail investors snap up gilts in wake of bond sell-off -- FT

      • Germany:

        • Almost a Quarter of Companies in Germany Have a Shortage of Skilled Workers -- ifoInstitute

      • France:

        • France considers extended tax on large corporate profits -- Les Echos

      • Italy:

        • Giorgia Meloni Has a Lot to Say: The Takeaways -- NYT

        • Italy's Bank M&A Saga Turns Targets Into Buyers, and Vice Versa -- Bloomberg

        • Italian steel group bids for former Ilva assets amid ownership saga -- eurometal

      • Ireland:

        • Planned increases in excise duty will not go ahead - Government -- RTE

    • Company news:

      • Notable Gainers

        • +9.5% VETN.SW (Vetropack Holding CHF18.30, +1.64) -- H1 earnings

        • +9.1% BAVA.DC (Bavarian Nordic A/S DKK207.20, +17.40) -- Q2 earnings; raises FY guidance; launches new share buy-back program of up to DKK750M

        • +8.8% NIBE.B.SS (NIBE Industrier SEK41.78, +3.40) -- Q2 earnings

        • +7.8% EGTX.SS (Egetis Therapeutics SEK7.18, +0.53) -- Q2 earnings

        • +5.6% MEDI.NO (MediStim NOK246.00, +13.00) -- Q2 earnings

        • +5.6% SPR.LN (Springfield Properties £1.11, +0.06) -- repurchase program

        • +5.5% ODF.NO (Odfjell NOK115.60, +6.20) -- Q2 earnings

        • +2.7% SFZN.SW (Siegfried Holding CHF81.75, +2.10) -- H1 earnings

        • +2.6% EVD.GR (CTS Eventim €55.25, +1.50) -- Q2 earnings

        • +0.1% RNO.FP (Renault €28.28, +0.02) -- Barclays downgrade

      • Notable Decliners

        • -14.5% HTG.LN (Hunting £4.11, -0.69) -- H1 earnings

        • -10.2% AVTX.NA (Avantium €5.22, -0.56) -- Kepler Cheuvreux downgrade

        • -6.6% FIE.GR (Fielmann Group €38.75, -2.75) -- cuts FY guidance

        • -3.7% ALFEN.NA (Alfen €12.44, -0.48) -- Jefferies downgrade

        • -3.3% STMN.SW (Straumann Holding CHF92.88, -3.20) -- Deutsche Bank downgrade

        • -3.1% AFK.NO (Arendals Fossekompani NOK191.00, -6.00) -- Q2 earnings

        • -2.1% BGN.IM (Banca Generali €66.50, -1.40) -- MontePaschi ~€8.72B all share offer

        • -0.4% VICO.SS (Vicore Pharma Holding SEK10.94, -0.04) -- Q2 earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Allreal Holding (ALLN.SW), Metall Zug (METN.SW), Addex Therapeutics (ADXN.SW)

        • Nordics: BW Offshore (BWO.NO)

  • Data:

    • Economics:

      • Eurozone

        • Aug

          • Flash Consumer Confidence (15.5) vs consensus (16.3) and prior (15.9)

          • Flash Manufacturing PMI 52.8 vs cons 51.8 and prior 51.9

        • Services PMI 51.7 vs cons 51.5 and prior 51.7

  • Germany Aug Flash Manufacturing PMI 54.1 vs cons 52.1 and prior 52.2

    • Services PMI 48.5 vs cons 50.1 and prior 49.8

  • France

    • Aug Flash Manufacturing PMI 51.5 vs cons 50.1 and prior 49.8

      • Services PMI 48.4 vs cons 49.4 and prior 49.6

    • Jul Business Survey 103 vs cons 101 and prior 101

  • UK

    • Jun Public Sector Net Borrowing (£1.8B) vs cons £0.0B

    • Jul Retail Sales +1.6% y/y vs cons +2.2% and prior revised +3.8% from +4.2%; (0.5%) m/m vs cons (0.5%) and prior revised +0.7% from +1.0%

Markets:

  • WTI Crude (26-Oct): ($0.42) or (0.48%) to $86.41

  • €-$ (0.0003) or (0.03%) to 1.1678

  • £-$ +0.0000 or +0.00% to 1.3632

  • €-£ (0.0003) to 0.8566

  • S&P 500 +0.65%

  • Performance year-to-date:

    • FTSE 100: +8.91%

    • DAX: +6.72%

    • CAC: +4.11%

    • MIB: +17.18%

    • Stoxx 600: +10.47%

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.
Please refer to "Terms Of Use".

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