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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.29%) to 10606.00, DAX (0.79%) to 25199.19, CAC40 (0.89%) to 7964.51, STOXX 600 (0.50%) to 634.89

Sep 30 ,2026

  • Synopsis:

    • European equity markets closed lower and near the lowest levels of the session. Retail, miners and utilities were the top gainers whilst insurance, media and construction were the big laggards. Follows mostly weaker levels on Tuesday.

    • Lot of macro data to digest at month-end. In Europe, French and Italian inflation readings for September posted multi-year highs. Five large German states also printed higher inflation on Iran-war fuel costs. German retail sales rebounded in August and import prices increased, but labor market remained weak in latest update. UK Lloyds business barometer fell sharply to a 17-month low in September. UK final Q2 GDP revised up to 0.5% versus flash estimate of 0.4%. UK auto output rebounded in August.

    • BoE FPC says risk outlook worsened in September. Dovish BoE member Taylor said did not see compelling case for a rate hike after hawkish-leaning comments from senior officials late last week.

    • Press digests PM Burnham's speech from Tuesday, which include nationalization of utilities, changes to the state pension guarantee, electoral reform and closer ties with Europe.

    • On the corporate front, Bayerische Motoren Werke (BMW.GR) held day 1 of its Capital Market Day 2026 yesterday, introducing new interim 2028 targets, and Gerresheimer (GXI.GR) reported preliminary Q2 earnings, indicating it expects a stronger H2 with improved earnings and a significantly improved financial situation. In the UK, Greggs (GRG.LN) issued a Q3 trading update with like-for-like sales growth of 3.4% and now expects a modestly improved 2026 outcome. Saga (SAGA.LN) beat expectations with strong H1 growth and upgraded its FY profit guidance, while Spire Healthcare (SPI.LN) saw H1 profits decline but maintained broadly flat FY26 guidance. Future Plc (FUTR.LN) confirmed trading in line with expectations but paused its share buyback to prioritise deleveraging, and 3i Infrastructure (3IN.LN) reaffirmed it remains on track to hit its FY27 return and dividend targets. In M&A deals, Goodwin (GDWN.LN) confirmed its ~£1.1B disposal of a substantial part of its Mechanical Engineering Division to Cerberus, with the remaining Refractory and Duvelco businesses trading resiliently and a significant shareholder cash return under consideration.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Retail +1.22%, Basic Resources +0.92%, Utilities +0.57%, Chemicals +0.20%, Persnl & HHold Goods (0.03%), Food & Beverage (0.04%), Technology (0.09%), Travel & Leisure (0.27%), Financial Svcs (0.30%), Health Care (0.40%), Autos & Parts (0.49%)

      • Underperformers:

        • Insurance (1.39%), Media (1.20%), Construct & Mtls (1.19%), Telecom (1.05%), Real Estate (1.04%), Oil & Gas (0.89%), Banks (0.84%), Ind Goods & Svcs (0.72%)

    • Macro:

      • BoE:

        • BoE's Taylor says rate-hike case stays weak until energy shock feeds broader inflation (Reuters)

      • Geopolitics:

        • US presses EU to release emergency diesel reserves amid Iran-war fuel-price spike (Handelsblatt)

        • China warns of retaliation if EU adopts US-style broad tariffs on Chinese goods (Bloomberg)

      • UK:

        • UK vehicle production rebounds in August as SMMT flags EU "Made in Europe" threat (Reuters)

        • Average UK diesel price set to reach £2 a litre within days (FT)

        • Andy Burnham to scrap pensions triple lock by 2030 to fund NHS-style national care service (Telegraph)

        • UK PM Andy Burnham sets out radical agenda on Brexit, pensions and electoral reform (Bloomberg, Rapporteur)

      • Germany:

        • Deutschlandticket price could rise from €63 to about €67 next year (Handelsblatt)

        • Berlin seeks UniCredit job and location commitments as Commerzbank takeover nears (Reuters)

      • France:

        • Vanguard warns France is 'degrading credit' as borrowing costs surge (FT)

    • Company news:

      • Notable Gainers

        • +22.8% SAGA.LN (Saga Plc £7.87, +1.46) -- H1 earnings

        • +8.3% YNGA.LN (Young & Co.'s Brewery £9.23, +0.71) -- H1 trading update

        • +8.2% CANTA.SS (Cantargia SEK1.52, +0.12) -- nadunolimab poster presentation

        • +8.2% DOCM.SW (DocMorris CHF13.41, +1.02) -- initiated overweight at Cantor Fitzgerald

        • +8.2% GRG.LN (Greggs £20.28, +1.53) -- Q3 trading update

        • +7.3% EVPL.LN (Everplay £4.55, +0.31) -- trading update

        • +5.5% GXI.GR (Gerresheimer €28.94, +1.50) -- Q2 earnings

        • +4.8% KOG.NO (Kongsberg Gruppen NOK319.90, +14.60) -- DNB Carnegie upgrade; contracts

        • +3.4% TCAP.LN (TP ICAP Group £3.42, +0.11) -- reinstated overweight at JPMorgan

        • +3.3% SKIS.B.SS (SkiStar SEK163.90, +5.30) -- Q4 earnings

        • +2.8% IWG.LN (International Workplace Group £1.79, +0.05) -- share buyback increased by $50M to $200M

        • +2.8% DBV.FP (DBV Technologies €2.07, +0.06) -- VIASKIN Peanut Patch BLA submission

        • +2.3% ALM.SM (Almirall €10.56, +0.24) -- new data presentation for lebrikizumab in AD and tildrakizumab in PsO

        • +2.3% NSI.NA (NSI NV €16.82, +0.38) -- Oddo upgrade

        • +2.2% ORX.SS (Orexo SEK13.76, +0.30) -- resubmits NDA for IZIPRY to FDA

        • +1.9% YIT.FH (Yit €4.45, +0.09) -- contract

        • +1.7% BMED.IM (Banca Mediolanum €23.97, +0.41) -- reinstated overweight at JPMorgan

        • +1.5% BERG.B.SS (Bergman & Beving SEK264.00, +4.00) -- Handelsbanken upgrade

        • +1.5% NDX1.GR (Nordex €39.16, +0.58) -- 175 MW of new orders

        • +1.5% AZA.SS (Avanza Bank Holding SEK384.90, +5.70) -- nitiated buy at Deutsche Bank

        • +1.4% AVAP.LN (Avation £1.42, +0.02) -- FY earnings

      • Notable Decliners

        • -47.4% TLW.LN (Tullow Oil £0.10, -0.09) -- Ghana tax arbitration update

        • -12.7% SIGHT.FP (GenSight Biologics €0.10, -0.01) -- H1 earnings

        • -12.4% CREO.LN (Creo Medical Group £0.10, -0.01) -- H1 earnings

        • -11.6% RM.LN (RM Plc £0.99, -0.13) -- sale of TTS business for total EV of up to £53.5M

        • -7.9% GDWN.LN (Goodwin £132.80, -11.40) -- 4M trading update

        • -7.7% RKH.LN (Rockhopper Exploration £0.59, -0.05) -- H1 earnings

        • -5.6% AVTX.NA (Avantium €5.05, -0.30) -- H1 earnings

        • -5.5% WDP.BB (Warehouses de Pauw €19.24, -1.12) -- 20.6M share offering

        • -4.1% ARCAD.NA (ARCADIS €39.70, -1.68) -- sells majority of its Greater China business to management team

        • -4.0% CBK.GR (Commerzbank €40.31, -1.68) -- Deutsche Bank downgrade

        • -3.9% FARN.LN (Faron Pharmaceuticals £0.37, -0.02) -- agrees deferral of amortisation payment of First and Second Tranche Bonds

        • -3.2% CRST.LN (Crest Nicholson Holdings £0.63, -0.02) -- lender discussions update

        • -2.1% SINCH.SS (Sinch SEK44.97, -0.98) -- initiated sell at Pareto

        • -1.2% BAB.LN (Babcock International Group £9.87, -0.12) -- FMSP bridging agreement extended

    • EU companies reporting tomorrow:

      • Earnings:

        • Nordics: Stolt-Nielsen (SNI.NO)

        • UK: James Halstead (JHD.LN)

      • Trading Update:

        • UK: Renew Holdings (RNWH.LN), Topps Tiles (TPT.LN)

      • CMD/Events: Sika Group (SIKA.SW), Rational (RAA.GR) pre-close call, Esprinet (PRT.IM), 2G Energy (2GB.GR)

  • Data:

    • Economics:

      • Germany

        • Aug Retail Sales (0.4%) y/y vs consensus +0.1% and prior (2.5%)

        • Sep Unemployment Change +12K vs consensus +1K and prior revised +5K from +4K

        • Sep Unemployment Rate 6.4% vs consensus 6.4% and prior 6.4%

      • France

        • Sep Preliminary CPI +3.0% y/y vs consensus +2.8% and prior +2.4%

        • Aug Consumer Spending (0.5%) m/m vs consensus 0.0% and prior revised to +0.4% from +0.5%

        • Aug PPI +4.8% y/y vs consensus +4.1% and prior revised +3.5% from +3.4%

      • UK Q2 Final GDP +1.4% y/y vs consensus +1.2%

      • Italy Sep

        • Prelim CPI +4.2% y/y vs cons +3.8% and prior +3.3%; +0.7% m/m vs cons +0.3% and prior +0.5%

          • EU Harmonised: +4.1% y/y vs cons +3.8% and prior +3.2%; +2.0% m/m vs cons +1.8% and prior +0.1%

        • Business Confidence 91.9 vs consensus 90.5 and prior revised 90.2 from 89.9

          • Consumer Confidence 91.2 vs consensus 94.0 and prior 94.5

      • Sweden Aug Retail Sales +6.9% y/y vs consensus +5.4% and prior revised +6.5% from +6.2%

      • Denmark

        • Aug Unemployment Rate 2.7% vs consensus 2.7% and prior 2.7%

        • Q2 Final GDP +5.7% y/y vs consensus +4.6%

    • Markets:

      • WTI Crude (Nov 26): +$2.11 or +2.36% to $91.49

      • €-$ +0.0014 or +0.12% to 1.1356

      • £-$ +0.0042 or +0.32% to 1.3274

      • €-£ (0.0018) to 0.8554

      • S&P 500 +0.58%

      • Performance year-to-date

        • FTSE 100: +6.79%

        • DAX: +2.89%

        • CAC: (2.27%)

        • MIB: +14.30%

        • Stoxx 600: +7.21%

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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