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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.14% to 10695.25, DAX +0.56% to 25408.64, CAC40 (0.04%) to 8077.80, STOXX 600 +0.35% to 638.65

Sep 25 ,2026

  • Synopsis:

    • European equity markets closed mostly higher, well off highs. Banks, Financial Svcs , and Technology the best performers, while energy, food, beverage and tobacco, and personal care drug and grocery stores the main laggards. Follows weaker close on Thursday.

    • Late PM weakness in Europe, tracking weaker US session Friday, with focus on fluctuations in oil prices and bond yields. Equity markets finding a modicum of support in early Europe amid reports that US and Iran exploring a phased deal to open Strait of Hormuz. Would be similar to MoU that was agreed in June. Oil, short-end Treasury yields retreated from highs (though still elevated). Treasury buyback results fell short of the $6B quota. Fedspeak continued to lean hawkish. Trump-Xi talks broadly playing out as expected with no specifics on deliverables.

    • In Europe, comments from BoE Governor Bailey and deputy governors Lombardelli and Breeden suggest chances of November hike increasing. Race to succeed ECB President Lagarde may accelerate after Executive Board member Schnabel announced she will leave in January, a year earlier than expected.

    • On data front, UK GfK consumer confidence data edged up but underlying details suggested sentiment is weakening and follows other softer consumer data this week. German GfK consumer confidence down sharply for October in contrast to improvement in other surveys in Germany this week. ECB data saw slight increase in private sector loans but lending to firms eased. In the US, durable goods orders broadly unchanged in August, outperforming expectations for modest decline. Core orders stronger, rising at their fastest pace in several months.

    • In M&A news, wires reported that UBS Group (UBSG.SW) is reviving talks to combine with a foreign bank; Credit Agricole (ACA.FP) and UniCredit (UCG.IM) are consider moving on Banco BPM (BAMI.IM); in other deals, BP (BP.LN) is weighing potential asset acquisitions including Devon Energy's Eagle Ford properties and - according to Spanish press - EQT AB (EQT.SS) has commissioned JPMorgan to sell Parques Reunidos for more than €1.7B.

    • On the reporting front, HelloFresh (HFG.GR) issued a profit warning, with Flow Traders (FLOW.NA) and Alten (ATE.FP) also updating their investors; in the Nordics, Konecranes (KCR.FH) raised mid-term financial targets, updated dividend policy and announced €100M buy-back, whilst Novo Nordisk (NOVO.B.DC) entered a €1.165B global license and collaboration agreement with Nanexa (NANEXA.SS) for long-acting injectables.

    • Looking ahead to monday's calendar (see - Europe Week Ahead: 28-Sep to 03-Oct attached) OCI (OCI.NA), Fluxys Belgium (FLUX.BB), OSE Immunotherapeutics (OSE.FP), Tullow Oil (TLW.LN), Likewise Group (LIKE.LN), and Redcentric (RCN.LN) will be amongst other names to update investors, whilst the macro-calendar releases will include Norway Aug retail sales and Sweden Aug trade balance.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Banks +1.26%, Financial Svcs +1.07%, Technology +0.93%, Travel & Leisure +0.82%, Construct & Mtls +0.71%, Basic Resources +0.66%, Media +0.65%, Retail +0.45%, Ind Goods & Svcs +0.40%,

      • Underperformers:

        • Energy(1.26%), Food, Beverage and Tobacco (0.87%), Personal Care Drug and Grocery Stores (0.40%), Chemicals (0.31%), Real Estate (0.22%), Utilities +0.02%, Health Care +0.03%, Autos & Parts +0.10%, Consumer Products and Services +0.17%, Insurance +0.34%,

    • Macro/Peripheral markets:

      • Geopolitics

        • US proposes tripartite meetings with Ukraine and Russia - Handelsblatt

        • EU, IMF understand need to help Ukraine finance budget gap, Zelenskiy says - Reuters

        • Houthis promise not to target European ships - FT

        • Trump Claims Productive Meeting With Xi But Offers No Details - Bloomberg

      • Central Banks

        • Bank of England chief warns of interest rate rises - The Telegraph

        • ECB Jobs Will Be Part of Grand Bargain, Greek Premier Says - Bloomberg

      • EU

        • Trump's US no longer a reliable ally, warns Belgium in leaked document - FT

      • UK

        • Burnham plans first Berlin visit for talks with Merz - Politico

        • Healey appoints Labour manifesto writer, adding to election speculation - The Guardian

        • UK diesel price close to all-time high - BBC

        • EU urges UK to raise tariffs on Chinese cars to avoid 'made in Europe' barriers - FT

      • France

        • Why One Bond Investor Says France Outlook Echoes Greece in 2010 - Bloomberg

      • Germany

        • Federal Council approves fuel discount - Applies from 1 October - Handelsblatt

      • Italy

        • Italy to Convene Oil Refiners as it Seeks to Boost Fuels Output - Bloomberg

    • Company news:

      • Trading Higher:

        • +17.1% BGO.LN (Bango £0.68, +0.11) -- H1 earnings

        • +13.9% CNE.LN (Capricorn Energy £4.43, +0.55) -- Genel Energy agree increased recommended cash offer at $5.74/share for company

        • +13.5% FXPO.LN (Ferrexpo £0.29, +0.04) -- H1 earnings

        • +7.5% EVK.GR (Evonik Industries €0.00, +1.35) -- confirms approach from BASF

        • +7.4% KCR.FH (Konecranes €31.82, +2.20) -- upgrades its mid-term financial targets and updates dividend policy; commences €100M share buy-back program

        • +7.2% ATE.FP (Alten €74.23, +5.10) -- H1 earnings

        • +5.3% YIT.FH (Yit €4.36, +0.22) -- group and XTX Markets sign agreement for the interior finishing phase, building services engineering (MEP), and commissioning of the third data center in Kajaani

        • +3.5% UBSG.SW (UBS Group CHF40.67, +1.38) -- UBS Group revives talks to combine with a foreign bank - Semafor; Insurance Australia Group settles Credit Suisse Greensill proceedings with no material FY27 financial impact

        • +3.4% HUBN.SW (HUBER+SUHNER CHF186.00, +6.20) -- to acquire Motion Applied's Connected Intelligence business

        • +2.7% ADS.GR (Adidas €145.70, +3.85) -- constructive Sell side feedback following 23-24 sep innovation days

        • +2.0% BEKB.BB (Bekaert €38.45, +0.75)

        • +1.9% OUT1V.FH (Outokumpu €5.65, +0.10) -- reinstated buy at BofA

        • +1.7% EBS.AV (Erste Group Bank €123.10, +2.10)

        • +1.7% GLEN.LN (Glencore £5.59, +0.09) -- UBS upgrade

        • +1.4% WIHN.SW (WISeKey International Holding CHF10.22, +0.14)

      • Trading Lower:

        • -24.4% ADOC.FP (Adocia €2.68, -0.85) -- H1 earnings

        • -10.8% HFG.GR (HelloFresh €2.30, -0.27) -- expects revenue for Q3 2026 below market expectations and adjusts outlook for the financial year 2026

        • -5.2% FLOW.NA (Flow Traders €27.00, -1.48) -- pre-close call

        • -4.7% SINCH.SS (Sinch SEK49.46, -2.41) -- DNB Carnegie downgrade

        • -3.9% BAS.GR (BASF SE €0.00, -2.03) -- Evonik Industries confirms approach from company

        • -3.6% BNOR.NO (BlueNord NOK576.00, -21.00)

        • -3.3% AKRBP.NO (Aker BP NOK352.00, -11.80) -- DNB Carnegie downgrade

        • -3.0% LXS.GR (Lanxess €12.52, -0.38)

        • -2.7% MERY.FP (Mercialys €10.06, -0.28) -- Kepler Cheuvreux

        • -2.7% OTB.LN (On The Beach Group £1.72, -0.05)

        • -2.1% DNO.NO (DNO ASA NOK19.36, -0.42) -- Genel Energy and Capricorn agree increased recommended cash offer at $5.74/share for Capricorn

    • EU companies reporting Monday:

      • Earnings:

        • Benelux: OCI (OCI.NA), Fluxys Belgium (FLUX.BB)

        • France: OSE Immunotherapeutics (OSE.FP)

        • UK: Tullow Oil (TLW.LN), Likewise Group (LIKE.LN), Redcentric (RCN.LN)

      • CMD/Events: Roche Holding (ROP.SW) pharma day at 9:00BST, TotalEnergies (TTE.FP) 2026 Strategy & Outlook at 14:00BST, thyssenkrupp Steel Europe (TKA.GR), Medios (ILM1.GR), ACEA (ACE.IM) EGM, Hunter Group (HUNT.NO) EGM, Spinnova (SPINN.FH) EGM

  • Data:

    • Economics:

      • GfK Consumer Confidence

        • Germany Oct (30.6) vs consensus (27.4) and prior revised (26.8) from (26.6)

        • UK Sep (13) vs consensus (16) and prior (14)

      • Spain Q2 GDP +2.6% y/y vs preliminary +2.7% (earlier, 03:00 ET)

      • Sweden Aug PPI +6.8% y/y vs consensus +6.4% and prior +6.4%

      • Denmark Aug Retail Sales +3.7% y/y vs consensus +6.9% and prior +6.7%

      • Eurozone Aug M3 Money Supply +3.5% y/y vs consensus +3.5% and prior +3.4%

    • Markets:

      • WTI Crude (Nov 26): ($0.53) or (0.56%) to $94.08

      • €-$ +0.0010 or +0.08% to 1.1392

      • £-$ +0.0013 or +0.10% to 1.3233

      • €-£ (0.0002) to 0.8609

      • S&P 500 +0.13%

      • Performance year-to-date

        • FTSE 100: +7.69%

        • DAX: +3.75%

        • CAC: (0.88%)

        • MIB: +15.40%

        • Stoxx 600: +7.85%

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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