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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +1.19% to 10816.14, DAX +0.70% to 25716.71, CAC40 +0.57% to 8186.93, STOXX 600 +0.86% to 642.60

Sep 17 ,2026

  • Synopsis:

    • European equity markets closed higher and near the best levels of the session. Follows Wednesday's positive performance with Stoxx 600 recovering from Tuesday's 3-month lows. Basic resources, autos and utilities were the top performing sectors. Personal and household goods, chemicals and food and beverage were the biggest laggards.

    • Equity markets benefiting from stabilization in bonds and pullback in oil prices, coming alongside Reuters report China has asked Iran to rein in the Houthis. Fed hiked rates by 25 bps as expected and Warsh leaned hawkish. Among the various takeaways, Warsh's emphasis on fighting inflation was seen easing concerns about credibility that grew in aftermath of June's FOMC meeting. Press also highlighted how Fed's rate hike raises stakes for other central banks, including the BoE and Asian policymakers.

    • BoE left key Bank Rate unchanged at 3.75% in a 6-3 vote split, as expected. Statement leaned hawkish, with warnings on upside inflation risk the longer Iran conflict lasts and sees inflation slightly above 4% in Q1 2027. Several MPC members that backed a hold sounded more hawkish. Slows Gilt sales via a multi-year plan and decided to retain £222B of Gilts maturing before 2035 and £120B of longest-dated Gilts. Will sell remainder at annualized pace of £20B by end of 2034 but will pause sales until April 2027 when it will decide operational details of plan.

    • Oil prices keying off some easing in concerns about Middle East supply following reports Saudi Arabia increasing crude flows via Hormuz and aiming to restore 50% of East-West pipeline capacity within days. Press also highlighted Houthi assurances of freedom of navigation in Red Sea to non-Saudi ships, and Trump planning post-war talks with Gulf leaders next week. Upward pressure in refined fuels a more immediate concern amid talk about countries imposing export restrictions.

    • Quiet macro calendar in Europe aside from the BoE update. Final Eurozone inflation unchanged from flash, though unlikely to be a market mover. Swiss trade data saw big drop in exports in August. Swiss government raised it 2026 growth forecast on strength in industry and foreign trade. Elsewhere, French politics another focal point after Le Pen opened the door to no confidence vote over 2027.

    • On the corporate front, key earnings/updates today included Galliford Try Holdings (GFRD.LN), Next (NXT.LN), Drax Group (DRX.LN), Debenhams Group (DEBS.LN). Wizz Air (WIZZ.LN), Wacker Chemie AG (WCH.GR), Kendrion (KENDR.NA), Volvo Car (VOLCAR.B.SS) host CMDs today. Raiffeisen Bank International (RBI.AV) shares under pressure following Grizzly Research LLC short report.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +1.96%, Autos & Parts +1.65%, Utilities +1.50%, Ind Goods & Svcs +1.29%, Banks +1.21%, Technology +0.95%, Health Care +0.91%

      • Underperformers:

        • Persnl & HHold Goods (0.17%), Chemicals (0.10%), Food & Beverage +0.12%, Construct & Mtls +0.13%, Real Estate +0.14%, Oil & Gas +0.18%, Media +0.29%, Retail +0.43%, Telecom +0.50%, Travel & Leisure +0.62%, Insurance +0.78%, Financial Svcs +0.80%

    • Macro:

      • Geopolitics

        • Trump hopes Iran war nearing end as Houthi-Saudi fighting escalates - Reuters

        • Russia Hits Kyiv as Ukraine Strikes Major Russian Oil Refinery - Bloomberg

      • Central Banks

        • Bank of England to hold rates but energy shock stirs talk of a hike - Reuters

      • EU

        • Trump suggests EU-Canada associate member deal would be 'hostile act' - FT

        • EU asks China to voluntarily limit hybrid car exports - FT

      • UK

        • Unloved UK Market Looks Like a Good Place to Hide - Bloomberg

        • Tories challenge chancellor to rule out tax cuts in budget - The Guardian

        • Education secretary agrees to fully fund pay rises for teachers to avert strikes - The Times

      • Germany

        • In Germany's east, a rare center-left star looks to stem the far right's rise - Politico

        • Frei counters doubts about positioning for Merz - Handelsblatt

        • German companies call for more international cooperation - Handelsblatt

      • Switzerland

        • Switzerland Boosts Growth Outlook After Strong Second Quarter - Bloomberg

      • Sweden

        • Sweden's centre-left opposition wins election, SVT says - Reuters

    • Company news:

      • Notable Gainers

        • +12.0% BYIT.LN (Bytes Technology Group £4.50, +0.48) -- trading update

        • +12.0% TBTG.LN (The Beauty Tech Group £3.92, +0.42) -- earnings; buyback

        • +11.5% TSK.SM (TSK Electronica y Electricidad €7.11, +0.74)

        • +11.4% SLEEP.SS (Sleep Cycle SEK23.45, +2.40) -- to streamline organisation

        • +8.4% EXENS.FP (Exosens €58.90, +4.55) -- raised guidance

        • +8.4% INTEG.B.SS (Integrum SEK9.32, +0.72) -- share issue

        • +7.0% OCDO.LN (Ocado Group £2.27, +0.15) -- initiated buy at Berenberg

        • +6.4% EMG.LN (Man Group £3.37, +0.20) -- UBS upgrade

        • +6.2% ALCLS.FP (Cellectis SA €1.22, +0.07) -- sector move

        • +6.2% KENDR.NA (Kendrion €20.45, +1.19) -- CMD

        • +6.0% GFRD.LN (Galliford Try Holdings £6.49, +0.37) -- earnings; buyback

        • +5.3% HBAN.SW (Helvetia Baloise Holding CHF225.20, +11.40) -- earnings

        • +5.2% DAN.IM (Danieli & C. Officine Meccaniche €57.90, +2.85) -- initiated buy at Jefferies

        • +5.1% EZE.SM (Grupo Ezentis €0.08, -0.00) -- earnings

        • +5.1% PAF.LN (Pan African Resources $1.27, +0.06)

        • +5.1% NEWA.B.SS (New Wave Group SEK91.35, +4.45)

        • +4.7% NOKIA.FH (Nokia €9.25, +0.41) -- initiated buy at B Riley Securities

        • +4.4% WRT1V.FH (Wartsila €29.08, +1.22) -- MoU

        • +4.2% MCHN.SW (MCH Group CHF6.48, +0.26) -- earnings

        • +4.0% ALFA.LN (Alfa Financial Software Holdings £1.61, +0.06) -- initiated buy at Berenberg

        • +3.9% RWS.LN (RWS Holdings £1.30, +0.05) -- Chair appointment

        • +3.4% WIZZ.LN (Wizz Air Holdings £9.85, +0.32) -- CMD

        • +3.2% IPH.FP (Innate Pharma €1.61, +0.05) -- earnings; parternship

        • +3.1% HTWS.LN (Helios Towers £2.08, +0.06) -- ups buyback

        • +3.0% BAVA.DC (Bavarian Nordic A/S DKK207.40, +6.00) -- CEO appointed

        • +2.9% SW.FP (Sodexo €58.05, +1.65) -- JPMorgan upgrade

        • +2.2% ATRLJ.B.SS (Atrium Ljungberg SEK25.05, +0.55) -- initiated buy at Danske Bank

        • +1.6% BC.IM (Brunello Cucinelli €78.54, +1.26)

        • +1.3% ALL.LN (Atlantic Lithium £0.15, -0.00) -- FIRB approves Zhejiang Huayou Cobalt's (603799.CH) proposed acquisition of Atlantic Lithium

      • Notable Decliners

        • -21.4% GBF.GR (Bilfinger €59.35, -16.20) -- lowers outlook; Oddo downgrade

        • -16.3% RIEN.SW (Rieter Holding CHF2.47, -0.48) -- UBS downgrade

        • -6.0% RBI.AV (Raiffeisen Bank International €60.95, -3.90) -- Grizzly Research LLC short report

        • -3.0% GMET.LN (Guardian Metal Resources £1.60, -0.05) -- earnings

        • -2.1% WCH.GR (Wacker Chemie €86.80, -1.85) -- CMD

        • -1.9% DNO.NO (DNO ASA NOK19.38, -0.37) -- $5.214/sh in cash offer to acquire Capricorn Energy (CNE.LN)

        • -1.5% DSY.FP (Dassault Systemes €20.58, -0.32) -- BNP Paribas Exane downgrade

        • -1.4% BANQ.BB (Banqup Group €2.17, -0.03) -- operational and growth update

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Nuernberger Beteiligungs (NBG6.GR)

        • Southern Europe: Ellaktor (ELLAKTOR.GA)

      • CMD/Events: HUBER+SUHNER (HUBN.SW), DCC (DCC.LN) EGM, Duro Felguera (MDF.SM), MJ Gleeson (GLE.LN) retail investor webinar at 10:00BST on the Engage Investor platform

  • Data:

    • Economics:

      • Netherlands Aug Unemployment Rate 4.0% vs consensus 4.1% and prior 4.0%

      • Switzerland Aug Trade Balance (sa) CHF5.6B vs consensus CHF7.5B and prior CHF8.1B

      • Austria Aug CPI +3.2% y/y vs preliminary +3.2%

      • Eurozone Aug CPI +3.2% y/y vs preliminary +3.3%

      • August Swiss Watch Exports +9.1% to CHF 1.79B

    • Markets:

      • WTI Crude (Oct 26): ($1.70) or (1.66%) to $100.73

      • €-$ +0.0016 or +0.14% to 1.1480

      • £-$ (0.0037) or (0.28%) to 1.3344

      • €-£ +0.0033 to 0.8603

      • S&P 500 +1.05%

      • Performance year-to-date

        • FTSE 100: +8.91%

        • DAX: +5.01%

        • CAC: +0.46%

        • MIB: +16.56%

        • Stoxx 600: +8.51%

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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