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StreetAccount Summary - EU Market Recap: FTSE 100 +0.39% to 10650.44, DAX +0.82% to 25568.56, CAC40 +0.78% to 8179.77, STOXX 600 +0.49% to 639.10

Sep 11 ,2026

  • Synopsis:

    • European equity markets generally closed the day higher, though well below the day's best levels, with pan-European indices have spent the whole day in positive territory

    • Shares steadily extended modest opening advances before the gains accelerated after the release of the US inflation data, though started to pare gains ahead of Wall Street's open. The retreat continued and shares became range-bound at levels seen shortly after the EU open, with a short period of muted choppy trade into the close.

    • Italy +1.3%, Greece +1.2% and Portugal +0.7% led outperformers. Denmark (0.7%) and Norway +0.1% lead underperformers

    • In the Middle East, Iran-backed Houthis claim major advance in Yemen, taking over the Red Sea coastline and reportedly seize island in key shipping route. The countries sharing a coastline along the Persian Gulf may meet with Iran on 14-Sep in Oman to discuss the results of the talks between Iran and Oman regarding the safe routes for commercial vessels in the Strait of Hormuz, among other regional issues.

    • In Eastern Europe, both Ukraine and Russia have come under attack in the past 24 hours, with each striking a number of targets. The EU Commission allows Ukraine to buy Patriot missiles with EU loan originally restricted to European-made weapons

    • Riksbank leaves the countercyclical buffer unchanged at 2.0%. Russia central bank kept its benchmark interest rate at 14.0%, as expected

    • Austria central bank trimmed its GDP forecast in 2026 to +0.5% vs prior forecast +0.6%, due to a weaker-than-expected H1, but raised it for 2027 to +1.3% from +1.1% as the outlook is improving

    • SNB Schlegel said expectations have shifted towards interest rate hikes as higher energy prices have driven up inflation, though the acceleration in inflation in recent months remains within stability range

    • ECB's Lagarde gave an on-stage interview at Banque Populaire Caisse d'Epargne Group Executive Summer Univ., whilst ECB's Lane to deliver lecture at 18:00BST at Dublin Economics Workshop Annual Economic Policy Conf (through Sat).

    • In politics, Swedish political party leaders in tv debate (last where all political leaders invited) on SVT at 20:00CET ahead of this weekend's general election. At the Riga conf, EU's Dombrovskis was on a panel title Two Years from The Draghi Report: The State of EU's Competitiveness.

    • IEA lowers forecast for global oil demand

    • UK releases dominated the limited economic data. UK economy unexpectedly expands in Jul, with GDP +0.4% vs consensus 0.0% and prior +0.3%, and was the third consecutive month that growth has outperformed expectations, whilst manufacturing/industrial production rebounds more than expected in Jul m/m and rebound from a drop in the previous month

    • Corporate news flow was limited. Amongst M&A, SED Energy Holdings agreeing to acquire Ventura Offshore Holding, Enel completed the acquisition of 810 MW portfolio of solar plants in the United States and speculation regards there being no bidding war for Gamma Communications. Also, Kinepolis Group (KIN.BB) completes acquisition of US Showcase Cinemas. Earnings/updates included Berkeley Group Holdings (BKG.LN) trading statement: continues to operate within our four-year £1.4B pre-tax profit plan and 1&1 (1U1.GR) approves transformation and restructuring program for 1&1 Versatel; adjusts 2026 EBITDA forecast, IONOS Group (IOS.GR) also providing an update, with United Internet (UTDI.GR) commenting on impact from transformation programs at those two group subsidiaries.

    • Sovereign credit rating reviews scheduled for after the close include Fitch (Italy, Slovenia, Spain), S&P (Croatia, Serbia, Spain) and Scope (ESFS, ESM, Netherlands, Spain, UK)

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Telecom +1.48%, Banks +1.47%, Media +0.84%, Ind Goods & Svcs +0.83%, Technology +0.81%, Travel & Leisure +0.68%, Oil & Gas +0.66%, Autos & Parts +0.62%, Insurance +0.62%, Persnl & HHold Goods +0.56%

      • Underperformers:

        • Chemicals (0.91%), Health Care (0.61%), Food & Beverage (0.51%), Retail (0.22%), Financial Svcs (0.19%), Utilities +0.10%, Real Estate +0.26%, Basic Resources +0.34%, Construct & Mtls +0.35%

    • Macro/Peripheral markets:

      • Central banks:

        • Bundesbank's Nagel says a mildly restrictive policy stance may become necessary in interview on CNBC

        • Why we raised rates again and what lies ahead - Ireland central bank Governor's Blog

        • Sweden's countercyclical buffer left at the level the Riksbank considers neutral - release

        • Russia central bank interest rate decision - press release; Governor Nabiullina remarks at press conf - press release

        • Austria central bank latest economic forecast; CPI forecast in 2026 is now +3.0%, the projected inflation rate in 2027 +2.3% and in 2028 +2.2% - release

        • SNB's Schlegel presentation Swiss economy in the global environment - presentation

      • Oil

      • France

        • French economy not in danger but deficit must be cut, central bank chief says - Reuters

        • Government sees 2026 budget deficit above 5% target - Bloomberg

        • 2026 growth forecast lowered to +0.4% from +0.7% by INSEE, sees growth of +1% in 2027 - Reuters

      • Germany

        • More company bankruptcies than at any time since 2013 - Handelsblatt

      • Ireland:

        • President Trump due to visit Ireland this weekend - RTE; Politico

      • Sweden:

        • PM Kristersson seeks new term and backing for partnership with far right - Reuters

        • Opposition's lead narrows further in final Swedish Radio poll before election - release

      • UK:

        • Jim O'Neil warns Burnham against higher tax on banks, business - Bloomberg

        • Surge in borrowing costs could force Healey to deliver 'emergency Budget' - CityAM

        • Labour mayors across England are planning to impose a 5% holiday tax - Telegraph

    • Company news:

      • Notable Gainers

        • +20.5% EVPL.LN (Everplay Group) -- notes Wardogs passes one million copies sold

        • +17.1% VETO.FP (Vetoquinol) -- H1 net income attributable €30.5M vs year-ago €25.1M

        • +13.5% CCR.LN (C&C Group)

          • Acquire Asahi UK's wholesale businesses for nominal consideration

          • Trading Update: H1 underlying operating profit anticipated to be in range of €43-44M, in line with its expectations

        • +13.4% RENX.LN (Renalytix) -- CEO James McCullough, bought 340 ADS at an average price of $3.875/ADS

        • +8.4% GOMX.SS (GomSpace Group) -- receives order for fast-deployment satellite solution valued at $2.4M

        • +7.9% VTURA.NO (Ventura Offshore Holding) -- SED Energy Holdings to acquire Ventura Offshore Holding in all share transaction

          • -1.1% ENH.NO (SED Energy Holdings)

        • +6.2% NRC.NO (NRC Group) -- wins machine contract in Sweden for SEK49M

        • +4.4% AVIO.IM (Avio) -- H1 net income attributable €9.7M vs year-ago (€0.6M); provides FY guidance

        • +4.2% GOFORE.FH (Gofore) -- Aug net sales €19.3M vs year-ago €14.7M

        • +3.5% VBG.B.SS (VBG Group) -- initiated buy at ABG Sundal Collier

        • +3.5% SALM.NO (Salmar) -- buy from underperform at BofA

        • +3.1% HIAB.FH (Hiab) -- transferred outperform at BNP Paribas Exane; prior rating was neutral

        • +2.8% CEC.GR (Ceconomy) -- JD.com preparing to improve remedies offered to gain EC approval of Ceconomy purchase - Bloomberg

        • +2.4% ALUNI.FP (ReWorld Media) -- UNIFY Group (formerly ReWorld Media) announces an exclusive agreement to acquire Sciences et Avenir and La Recherche media brands; terms undisclosed

        • +2.3% IDHC.LN (Integrated Diagnostics Holdings) -- Q2 adj net income EGP510M, +42% vs year-ago EGP360M

        • +2.3% IOS.GR (IONOS Group) -- launches strategic transformation program, to reduce workforce by ~(11%), reaffirms FY adj. EBITDA; shares reverse initial falls

        • +2.2% TRN.LN (Trainline) -- Trading Update: H1 revenue £233M vs FactSet £226.7M [1 est], FY27 guidance reconfirmed

        • +2.5% PRY.IM (Prysmian) -- places 7.0M new shares at €121.0/share; proceeds to part fund the acquisition of Atkore

        • +2.2% FRA.GR (Fraport) -- Aug Frankfurt Airport traffic statistics: ~6.3M passengers, (0.3%) y/y

        • +1.4% AGS.BB (Ageas) -- completes previously announced sale of 30.95% stake in Maybank Ageas Holdings Berhad to Maybank

        • +1.3% FHZN.SW (Flughafen Zuerich) -- Aug traffic statistics

          • and reversing initial losses BKG.LN (Berkeley Group Holdings), 1U1.GR (1&1)

      • Notable Decliners

        • -19.8% ALBPS.FP (Biophytis) -- announces completion of €5.3M capital increase to fund its phase 2 trial in obesity

        • -18.2% ASKER.SS (Asker Healthcare Group) -- sell from buy at DNB Carnegie

        • -7.8% FTK.GR (flatexDEGIRO) -- Chairman Hans-Hermann Lotter resigns, effective immediately

        • -7.5% YPSN.SW (Ypsomed Holding) -- neutral from buy at UBS

        • -5.7% CHEMM.DC (ChemoMetec) -- FY EBITDA DKK281.3M vs FactSet DKK282.7M [5 est, DKK279-285M]

        • -5.5% IMMU.SS (Mendus) -- reports positive read-out for first stage VITAL-CML trial; will enable the initiation of a Phase 2a trial

        • -3.8% NHY.NO (Norsk Hydro) -- neutral from overweight at JPMorgan

        • -3.4% NOVO.B.DC (Novo Nordisk) -- underweight from equal-weight at Morgan Stanley

        • -2.9% STEM.LN (SThree) -- board unanimously and unequivocally rejects offer proposal from Circle8

        • -2.9% BAS.GR (BASF) -- placed 80M shares of Harbour Energy and sold a further 53M shares to the company at 266p/share

          • -1.6% HBR.LN (Harbour Energy)

        • -2.9% GAMA.LN (Gamma Communications)

          • tweet by Sky News' Mark Kleinman says prospect of bidding war receding

          • Waterland Private Equity Investment B.V. confirms that it is no longer acting in concert with the Giacom Group in connection with the possible acquisition of Gamma

        • -2.8% PUM.GR (PUMA) -- CCO Matthias Baeumer to step down effective 30-Sep

        • -2.5% PAF.LN (Pan African Resources) -- completes Definitive Feasibility Study on the Soweto Talings Retreatment project

    • EU companies reporting Monday:

      • Earnings:

        • Ireland: Greencoat Renewables (GRP.ID)

        • Southern Europe: SeSa (SES.IM), NewPrinces (NWL.IM), Gas Plus (GSP.IM)

        • UK: HgCapital Trust (HGT.LN), M.P. Evans Group (MPE.LN), RTW Biotech Opportunities (RTW.LN), GlobalData (DATA.LN), Big Technologies (BIG.LN), Keystone Law Group (KEYS.LN), Pantheon Resources (PANR.LN)

      • CMD/Events: ISS (ISS.DC), IPS.FP (Ipsos) exec. update call

  • Data:

    • Economics:x

      • UK Jul

        • Industrial production +0.6% y/y vs consensus +0.2%, prior (0.2%); +0.2% m/m vs consensus (0.2%), prior (0.2%)

        • Manufacturing production +2.6% y/y vs consensus +2.0%, prior +0.5%; +0.9% m/m vs consensus +0.2%, prior (0.5%)

        • Visible trade balance (£20.97B) vs consensus (£22.3B), prior (£23.01B)

          • Trade balance (£3.45B) vs consensus (£4.0B), prior (£5.54B)

        • Construction output (2.5%) y/y vs consensus (2.3%), prior (2.3%)

      • Switzerland Aug Consumer Sentiment (32.8) vs consensus (32) and prior (34.8)

    • Markets:

      • WTI Crude (Oct 26): ($3.40) or (3.32%) to $99.08

      • €-$ (0.0011) or (0.09%) to 1.1603

      • £-$ +0.0009 or +0.07% to 1.3521

      • €-£ (0.0014) to 0.8582

      • S&P 500 +1.05%

      • Performance year-to-date:

        • FTSE 100: +7.24%

        • DAX: +4.40%

        • CAC: +0.37%

        • MIB: +16.84%

        • Stoxx 600: +7.92%

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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