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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.28% to 10688.47, DAX +0.53% to 25537.75, CAC40 +0.62% to 8140.59, STOXX 600 +0.46% to 637.09

Sep 16 ,2026

  • Synopsis:

    • European equity markets ended broadly higher Wednesday. Markets waiting for key central bank policy decisions including Fed later today and BoE tomorrow. Market pricing in a 90%+ probability of Fed tightening, though lots of uncertainty about how Fed will frame the policy path going forward. More signs of stabilization in the AI trade, though no big bounce yet as the safety debate continues to dominate the headlines.

    • Oil lower, though coming off from WTI crude's tenth recorded gain over past 11 sessions on Tuesday, with increase of ~27% over that period. Some attention to API report showing sharp rebound in US and gasoline inventories in the latest week. Recent flurry of headlines have focused on Saudi supply constraints (and now China reportedly may reimpose export restrictions on refined products). However, Bloomberg report today highlighted pivot to spot sales via Persian Gulf. Iranian Foreign Minister Araghchi's visit to Beijing today has put some focus back on potential for China to play a diplomatic role. China also in focus ahead of Trump-Xi meeting next week and latest reports about low-level tariff relief. However, FT reported US may push for a shorter, six-month trade truce extension amid frustration with Beijing over raw earths.

    • Macro data focus in Europe on UK inflation after soft labor market update on Tuesday. Headline CPI and core inflation accelerated in line with expectations. Eurozone industrial production slightly weaker than forecast and Eurozone wage growth tracker edged up.

    • Among stock movers in Europe today, UK homebuilders outperformed led by Barratt Redrow (BTRW.LN) after the group posted full-year adjusted pre-tax profit of £572.8M, ahead of its own July guidance, though the housebuilder trimmed its FY27 completion target citing persistent planning delays. Soitec (SOI.FP) surged after JPMorgan upgraded the stock to Overweight with a doubled price target of €200, arguing that photonics demand is more than offsetting mobile market concerns. Infineon IFX.GR) gained after announcing the sale of its NOR Flash and F-RAM memory business to Taiwan's Winbond Electronics in an all-cash deal valued at $1.12B, with closing targeted for H2 2027, as the German chipmaker moves to streamline its portfolio. WH Smith (SMWH.LN) slipped after guiding full-year headline pre-tax profit to approximately £75M, marginally below the £77.4M consensus, as margin pressure from promotional activity and inflation headwinds weighed on the travel retailer despite ongoing cost reduction efforts. Elsewhere, Berenberg sees the Auto Sector entering a period supported by accommodating regulatory requirements, including softer EU CO2 requirements, a more rational China market, accelerating product momentum, restructuring savings, and non-auto end- market traction. The firm upgraded BMW.GR to Buy, citing product momentum and capital allocation, and downgraded STLAM.IM to Hold, citing weaker operating leverage and potential inventory destock.

    • Looking ahead to tomorrow's agenda, BOE interest rate decision at 12noon BST with no change expected in the 3.75% benchmark interest rate. Also, Bank of Italy/CEPR/EIEF/World Bank Conf on 'Firm Dynamics, Investment and Aggregate Growth' (through Fri), Norges Bank releases its Q3 regional report at 10:00CET and BOE publishes minutes of last MPC meeting at 12noon BST. In Switzerland, SECO scheduled to release its latest economic forecasts. Data releases include Eurozone Aug final CPI and Switzerland Aug trade balance (monthly watch data). Earnings/updates will be out from the likes of Next (NXT.LN) and Helvetia Baloise (HBAN.SW),

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Utilities +1.68%, Travel & Leisure +1.35%, Construct & Mtls +1.16%, Ind Goods & Svcs +1.03%, Basic Resources +0.86%, Chemicals +0.68%, Banks +0.58%, Technology +0.56%, Insurance +0.51%

      • Underperformers:

        • Oil & Gas (0.56%), Autos & Parts (0.43%), Media (0.21%), Food & Beverage (0.03%), `+0.14%, Financial Svcs +0.20%, Retail +0.31%, Telecom +0.43%, Persnl & HHold Goods +0.47%, Real Estate +0.47%

    • Macro:

      • EU

        • EU's von der Leyen wants Canada to become bloc's first associate member (Reuters)

      • UK

        • The UK Is Selling Fewer Long Bonds. It's Not Helping Save the Market (BBG)

        • Prime London house rents soar to an average £220,000 a year (Times )

        • Burnham rejects 'tax and spend socialist' comments (BBC)

        • Burnham considers plan to give mayors greater oversight of water companies (FT)

      • Germany

        • Merz confidante backs tax cuts as German fuel prices hit record (Reuters)

        • Eight German state premiers back Merz amid speculation over future (BBC )

        • Merz's fate in the balance as second eastern German state goes to the polls (Reuters)

      • Italy

        • Govt set to abolish road tax for small and mid-sized vehicles (ANSA)

    • Company News

      • Trading Higher:

        • +16.8% APTD.LN (Aptitude Software Group £2.25, +0.36) -- H1 earnings

        • +13.4% SOI.FP (SOITEC €137.30, +16.50) -- JPMorgan upgrade

        • +12.3% TISG.IM (The Italian Sea Group €1.18, +0.14) -- receives 11 non-binding offers relating to transactions structured as either asset deals or share deals

        • +11.7% BTRW.LN (Barratt Redrow £2.98, +0.32) -- FY earnings

        • +8.4% FTC.LN (Filtronic £2.33, +0.18) -- contract

        • +8.1% TRE.SM (Tecnicas Reunidas €26.82, +2.06) -- buyback program

        • +7.1% TRMD.A.DC (TORM Plc DKK235.40, +15.80) -- Hafnia to acquire 4.5M A shares in TORM plc at $32.25, representing 4.39% of outstanding share capital of TORM

        • +6.4% VK.FP (Vallourec €19.58, +1.20) -- contract

        • +6.1% GRE.SM (Grenergy Renovables €87.35, +5.20) -- H1 earnings

        • +5.8% ALHYF.FP (Lhyfe €1.87, +0.11) -- and H2APEX expand partnership to support growing demand for renewable hydrogen in Germany

        • +5.5% PAF.LN (Pan African Resources $1.20, +0.06) -- FY earnings

        • +5.1% BTG.LN (BTG Consulting plc £1.11, +0.05) -- trading update

        • +4.7% CICN.SW (Cicor Technologies CHF132.40, +5.80) -- contract

        • +4.3% ALMDT.FP (MEDIAN Technologies €3.75, +0.16) -- contract

        • +3.8% NCAB.SS (NCAB Group SEK81.30, +3.00) -- acquires IMP Electronics Solutions in Australia

        • +3.4% HAFNI.NO (Hafnia NOK89.50, +3.00) -- to acquire 4.5M A shares in TORM plc at $32.25, representing 4.39% of outstanding share capital of TORM

        • +2.5% FFARM.NA (ForFarmers €5.91, +0.14) -- to acquire 100% of the shares in STW SA

        • +2.0% OKEA.NO (Okea NOK41.95, +0.80) -- Aker BP has made a gas discovery at Alpehumle prospect in the North Sea - NOD

        • +1.6% CLOUD.NO (Cloudberry Clean Energy NOK12.94, +0.20) -- to develop 200MW powered land project

        • +1.4% EQUI.IM (Equita Group €6.04, +0.08) -- Kepler Cheuvreux upgrade

        • +1.2% IFX.GR (Infineon Technologies €0.00, +0.67) -- to sell NOR Flash and F-RAM business to Winbond in all-cash transaction valued at $1.12B

        • +0.4% SMWH.LN (WH Smith £3.55, +0.02) -- trading update

        • +0.1% GAW.LN (Games Workshop Group £180.20, +0.10) -- trading update

      • Trading Lower:

        • -32.4% CRTA.LN (Cirata £0.08, -0.04) -- H2 earnings; lowers FY guidance

        • -14.7% ALCLS.FP (Cellectis SA €1.25, -0.20) -- Barclays downgrade

        • -10.8% B2I.NO (B2 Impact NOK23.40, -2.80) -- Nevedal Invest AS sold 26.0M shares in B2 Impact at a price of NOK 23.35/share for a total transaction size of NOK 607.1M

        • -7.8% TENG.LN (Ten Lifestyle Group £0.95, -0.08) -- trading update

        • -7.3% ALSEN.FP (Sensorion €9.80, -0.77) -- submitted a draft registration statement on Form F-1 to the SEC

        • -5.7% HEALTH.FH (Nightingale Health €0.90, -0.05) -- Q4 earnings

        • -4.4% IMMU.SS (Mendus SEK6.22, -0.29) -- initiation of the DIVA trial evaluating vididencel in combination with less-intensive first-line treatment in patients with acute myeloid leukemia

        • -3.3% STLAM.IM (Stellantis €4.36, -0.15) -- Berenberg downgrade

        • -2.6% FRAS.LN (Frasers Group £7.50, -0.21) -- THG Plc holder Fraser Group raises stake to 11.09% from 10.77% as at 15-Sep - Filing

        • -2.5% HEM.SS (Hemnet Group SEK74.40, -1.95) -- DNB Carnegie downgrade

        • -1.8% AVCT.LN (Avacta Group £0.82, -0.01) -- trial update

        • -1.3% COLR.BB (Colruyt Group €38.10, -0.50) -- Oddo downgrade

        • -1.2% MOON.LN (Moonpig Group £2.42, -0.03) -- trading update

        • -0.1% SIGN.SW (SIG Combibloc Group CHF12.93, -0.01) -- initiated neutral at JPMorgan

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Helvetia Baloise Holding (HBAN.SW), MCH Group (MCHN.SW)

        • France: Virbac (VIRP.FP), Innate Pharma (IPH.FP), Akwel (AKW.FP), Solutions 30 (S30.FP), Forsee Power (ALFOR.FP)

        • UK: Next (NXT.LN), Galliford Try Holdings (GFRD.LN), The Beauty Tech Group (TBTG.LN)

      • Traffic: VINCI (DG.FP)

      • CMD/Events: Wacker Chemie (WCH.GR), Volvo Car (VOLCAR.B.SS) Strategy update, Wizz Air Holdings (WIZZ.LN), Générale de Santé (GDS.FP), Borregaard (BRG.NO), Bechtle (BC8.GR), Kontron (KTN.GR), Kendrion (KENDR.NA), DHL (DHL.GR) business update call, AstraZeneca (AZN.LN), SFS Group (SFSN.SW), EssilorLuxottica (EL.FP) JP Morgan Access Day, argenx (ARGX.BB) EGM, Pantheon International (PIN.LN)

  • Data:

    • Economics:

      • UK Aug

        • CPI +3.1% y/y vs conss +3.1% and prior +2.9%; +0.5% m/m vs cons +0.5% and prior +0.3%

          • Core +2.6% y/y vs cons +2.6% and prior +2.6%

        • RPI +3.4% y/y vs cons +3.5% and prior +3.2%; +0.6% m/m vs cons +0.7% and prior +0.6%

        • Output PPI +3.7% y/y vs cons +3.3% and prior revised +3.3% from +3.1%; +0.7% m/m vs cons +0.5% and prior revised +0.4% from +0.2%

        • Input PPI +6.1% y/y vs cons +5.4% and prior revised +5.8% from +4.9%; +0.3% m/m vs cons +0.6% and prior revised (0.8%) from (1.7%)

      • Eurozone Jul Industrial Production 0.0% y/y vs cons (0.1%) and prior revised (0.3%) from +0.1%; (0.1%) m/m vs cons (0.2%) and prior revised (0.1%) from 0.0%

      • Italy Aug CPI +3.3% y/y vs prelim +3.3%; +0.5% m/m vs prelim +0.5%

        • EU Harmonised: +3.2% y/y vs prelim +3.2%; +0.1% m/m vs prelim +0.1%

      • Sweden Aug Unemployment Rate 8.5% vs consensus 8.2% and prior 7.8%

    • Markets:

      • WTI Crude (Oct 26): ($4.06) or (3.84%) to $101.77

      • €-$ (0.0006) or (0.05%) to 1.1537

      • £-$ (0.0029) or (0.22%) to 1.3449

      • €-£ +0.0015 to 0.8580

      • S&P 500 +0.37%

      • Performance year-to-date

        • FTSE 100: +7.62%

        • DAX: +4.28%

        • CAC: (0.11%)

        • MIB: +15.63%

        • Stoxx 600: +7.58%

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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