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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (1.45%) to 10659.13, DAX (1.60%) to 25304.06, CAC40 (1.49%) to 8065.02, STOXX 600 (1.11%) to 635.45

Sep 18 ,2026

  • Synopsis:

    • European indices closed broadly lower Friday. Autos/parts and telecom the big laggards. Tech the only sector advancing. Follows positive performance Wednesday and Thursday.

    • Middle East volatility in focus after fresh Saudi-Houthi strikes and Red Sea displacement, though Saudi Arabia expects partial restoration of damaged East-West pipeline capacity within days and traders watching for alternative supply routes.

    • Regional calendar light so policy and fiscal sequencing in focus. German PPI beat forecasts on energy prices. UK retail sales also beat forecasts as weather and promotions masked energy squeeze. Note, brokers now broadly see BoE hiking in November. August ECB CES reported Eurozone households lifted inflation views at every horizon. Economists see ECB delivering last hike in December. Chancellor Healey expected to urge EU to ensure Britain included in "Made in Europe" industrial policy.

    • On a light reporting front, France's Virbac (VIRP.FP) and VINCI SA (DG.FP) posted their most recent numbers, whilst UBER+SUHNER (HUBN.SW) confirmed FY guidance; still in Switzerland, shares in Nestle (NESN.SW) are trading lower after Russia's presidential decree yesterday that placed Nestlé Russia under temporary external administration.

    • In M&A news, Softcat (SCT.LN) acquired GDT Topco for $1.05B and issued 18.5M new shares at 1,890p/sh in order to finance it. On the syndicate desk, Aker BP (AKRBP.NO) holder Nemesia placed 14M shares and SOITEC (SOI.FP) launched a €500M convertible bond offering.

    • Looking ahead to next week, the EU economic calendar sees UK Sep house price index - Rightmove on Monday, with no other major releases expected on the day. Of note, Israel will be closed on Sunday and Monday for Yom Kippur.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Technology +0.35%, Health Care (0.33%), Media (0.76%), Financial Svcs (0.76%), Oil & Gas (0.68%), Construct & Mtls (0.89%), Ind Goods & Svcs (0.96%), Persnl & HHold Goods (0.96%)

      • Underperformers:

        • Autos & Parts (3.33%), Telecom (3.29%), Basic Resources (1.94%), Banks (1.96%), Retail (2.01%), Food & Beverage (1.86%), Insurance (1.41%), Utilities (1.19%), Chemicals (1.31%), Travel & Leisure (1.35%), Real Estate (1.12%)

    • Macro:

      • Central banks:

        • ECB's Lagarde keeps door open to early exit -- Reuters

        • ECB Officials Pave Way for More Tightening as Inflation Worsens -- Bloomberg

        • The BoE is backing the UK's debt, and that's fine -- Reuters

      • EU:

        • EU weighs windfall taxes on energy firms amid growing economic strain -- euronews

      • UK:

        • Burnham's Budget breathing space 'shrinks by £15B' -- Telegraph

        • Business and unions clash over how to fix UK's youth jobs shortage -- FT

      • Germany:

        • Germany news: Fuel costs dominate debate ahead of polls -- DW

        • Merz Faces Party Revolt With Far Right Advancing in Germany -- Bloomberg

      • France:

        • French Yield Premium Rises to One Percentage Point on Debt Risks -- Bloomberg

      • Italy:

        • Economy Minister Giorgetti hopeful of end to Italy's infringement procedure -- Ansa

        • Italy's minister calls for more ships to protect Red Sea navigation -- Reuters

    • Company news:

      • Notable Gainers

        • +18.7% ONCO.SS (Oncopeptides SEK2.10, +0.33) -- announces EU's CHMP adopted a positive opinion recommending an extension of the therapeutic indication for Pepaxti (melflufen) to earlier lines of therapy

        • +15.4% SCST.SS (Scandi Standard SEK170.40, +22.80) -- Danske Bank upgrade

        • +4.4% GRNG.SS (Gränges SEK176.30, +7.50) -- Nordea upgrade

        • +4.4% ALATI.FP (Actia Group €3.80, +0.16) -- H1 earnings; TPICAP Midcap upgrade

        • +2.7% IFX.GR (Infineon Technologies €56.03, +1.46) -- Oddo upgrade

        • +1.0% RBI.AV (Raiffeisen Bank International €61.30, +0.60) -- denies allegations of Grizzly Research report

        • +0.4% NOEJ.GR (Norma Group €17.12, +0.06) -- completes second public share buyback offer with a repurchase volume of approximately €208M

      • Notable Decliners

        • -78.2% MTC.LN (Mothercare £0.00, -0.01) -- updates its financial outlook amidst Middle Eastern franchise stores closures

        • -11.3% AAF.LN (Airtel Africa £3.20, -0.40) -- Airtel Africa said to trim IPO size to the ~$800M range from prior $1.5-$2.0B range as it looks to start the listing process next week - Bloomberg

        • -5.8% SECARE.SS (Swedencare SEK22.00, -1.35) -- CEO to step down

        • -5.8% ORA.FP (Orange €15.01, -0.93) -- Morgan Stanley upgrade

        • -3.5% AKRBP.NO (Aker BP NOK351.85, -12.70) -- Aker BP holder Nemesia offering 14M shares via a placement at NOK353/share - Bloomberg

        • -3.4% HUBN.SW (HUBER+SUHNER CHF167.20, -5.80) -- confirms FY guidance at Capital Markets Day

        • -3.3% GBF.GR (Bilfinger €57.85, -1.95) -- Bernstein downgrade

        • -2.6% NESN.SW (Nestle CHF76.46, -2.06) -- notes Russia's presidential decree yesterday that places Nestlé Russia under temporary external administration

        • -2.5% INVP.LN (Investec £6.38, -0.17) -- H1 trading update

        • -2.4% TRE.SM (Tecnicas Reunidas €26.06, -0.64) -- discloses impact of final outcome of arbitration relating to MGT Teesside project and on the interim measures relating to Sitra Refinery project

        • -2.2% DEBS.LN (Debenhams Group £0.25, -0.01) -- Chair steps down

        • -2.0% PPC.GA (Public Power Corp. €24.18, -0.50) -- announces MOU with AWS for data center facility in Western Macedonia

        • -1.7% GOMX.SS (GomSpace Group SEK11.47, -0.19) -- order

        • -1.3% VIRP.FP (Virbac €308.00, -4.00) -- H1 earnings

        • -0.5% SOI.FP (SOITEC €141.25, -0.70) -- issues €500M convertible bond (ORNANE) due 2033;

    • EU companies reporting tomorrow:

      • Earnings:

        • DACHs: Curatis Holding (CURN.SW)

        • France: Abivax (ABVX.FP)

        • UK: Craneware (CRW.LN), Elixirr International (ELIX.LN)

      • Trading Update:

        • Nordics: Harboes Bryggeri (HARB.B.DC)

  • Data:

    • Economics:

      • Eurozone Jul Construction Output (2.0%) y/y consensus (1.0%) and prior revised (1.4%) from (0.7%)

      • Germany Aug PPI y/y +4.6% vs consensus +4.1% and prior +3.0%

      • UK Aug Retail Sales y/y +2.4% vs consensus +1.9% and prior revised to +1.2% from +1.6%

      • Italy Jul Construction output (1.2%) vs consensus (2.0%) and prior revised to +0.6% from +2.9%

    • Markets:

      • WTI Crude (26-Oct): +$0.30 or +0.29% to $102.21

      • €-$ (0.0007) or (0.06%) to 1.1469

      • £-$ +0.0017 or +0.13% to 1.3375

      • €-£ (0.0014) to 0.8577

      • S&P 500 (0.14%)

      • Performance year-to-date:

        • FTSE 100: +7.28%

        • DAX: +3.33%

        • CAC: (1.04%)

        • MIB: +14.69%

        • Stoxx 600: +7.31%

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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