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Back to Daily DR Market Summary

StreetAccount Summary - European Market Recap: FTSE 100 (0.16%) to 10441.60, DAX (1.18%) to 24806.97, CAC40 (0.51%) to 7729.69, STOXX 600 (0.75%) to 625.51

Oct 08 ,2026

  • Synopsis:

    • European equity markets ended lower, though off earlier lows. Healthcare, autos and banks the biggest decliners. Energy best performer on the session, food/beverage and media also outperform.

    • Oil strength the big influence on markets following latest downbeat Middle East headlines. Attention in Europe also remains on recent backup in bond yields. French yields the main focal point. Stabilization on Wednesday pinned on media report that France considering increasing issuance of shorter-term debt to underpin investor demand. UK borrowing costs also hit fresh 28-year high in prior session, keying off global bond moves.

    • On the macro data front, latest KPMG/REC UK jobs report showed firms seeking more staff for the first time in two years. RICS survey saw UK housing market weakened in Sep. Germany August trade data came in just above market expections. September ECB minutes showed decision to hike rates was robust across all of its scenarios. Highlighted importance in coming months to gauge strength of indirect effects. Other ECB comments focused on risks emanating from energy price shock. Elsewhere, BoE officials Pill and Greene emphasized need to focus on keeping inflation in check.

    • On the corporate front, out of the UK, Tesco (TSCO.LN) H1 earnings came in ahead of expectations, Imperial Brands (IMB.LN) out with in-line FY26 pre-close trading update and new FY27 buyback. ITM Power (ITM.LN) upgraded FY26 guidance. In DACHs, Novartis (NOVN.SW) received FDA approval for Rhapsido (remibrutinib) as the first treatment for symptomatic dermographism. Elsewhere, Bavarian Nordic (BAVA.DC) raised full-year guidance on strong travel health performance, and Zealand Pharma (ZEAL.DC) reported positive Phase 2 topline results meeting its primary endpoint. In M&A, BAM (BAMNB.NA) announced the acquisition of Dutch firm A.Hak at an EV of €504M.

    • Looking ahead to tomorrow's EU econ-calendar, key releases will include, amongst others, Italy Aug industrial production, and Switzerland Sep consumer confidence.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers

        • Oil & Gas +2.42%, Media +0.76%, Food & Beverage +0.51%, Utilities +0.31%, Chemicals (0.07%), Financial Svcs (0.43%), Technology (0.44%), Persnl & HHold Goods (0.51%), Basic Resources (0.66%), Retail (0.74%)

      • Underperformers

        • Health Care (2.47%), Autos & Parts (2.10%), Banks (2.04%), Telecom (1.31%), Travel & Leisure (1.25%), Real Estate (1.08%), Construct & Mtls (1.03%), Ind Goods & Svcs (0.84%), Insurance (0.77%)

    • Macro:

      • Central banks

        • ECB minutes reflect cooler appetite for additional rate rises in September -- FT

        • BOE's Bailey Fears Governments Are Running Out of Firepower -- Bloomberg

      • EU:

        • Could France's debt crisis cause a European financial crash? -- UnHerd

      • UK:

        • Medium-term borrowing costs for UK government hit 19-year high -- Guardian

      • Germany:

        • German government raises growth forecasts for 2026 and 2027, source says -- Reuters

      • France:

        • Concern grows in US over France's economic situation -- LeMonde

        • Fance Is the Bellwether for Stress in Global Markets -- Bloomberg

      • Italy:

        • Meloni overhauls election rules in secret ballot -- Telegraph

        • Italy talking to banks, energy groups over contribution to 2027 budget -- Reuters

    • Company news:

      • Notable Gainers

        • +28.6% PWR.LN (Power Probe £0.59, +0.13) -- buyback

        • +14.1% JLP.LN (Jubilee Metals Group £0.02, -0.00) -- update on Large Waste Project Disposal

        • +12.5% ADMCM.FH (Admicom €30.20, +3.35) -- earnings

        • +9.3% NSKOG.NO (Norske Skog NOK44.25, +3.75) -- NOK 850M investment to rebuild paper machine 6(PM6) at Norske Skog Saugbrugs in Halden

        • +6.6% KID.NO (Kid ASA NOK129.00, +8.00) -- prelim sales

        • +5.2% TSCO.LN (Tesco plc £5.01, +0.25) -- earnings

          • In sympathy: SBRY.LN +1.5%

        • +5.1% IMB.LN (Imperial Brands £26.05, +1.26) -- trading update; buyback

        • +4.8% BOHUS.NO (Bohus ASA NOK38.25, +1.75) -- prelim sales

        • +4.7% ALK.B.DC (ALK-Abello DKK228.20, +10.20) -- upgrades outlook

        • +4.4% ADXN.SW (Addex Therapeutics CHF0.02, -0.00) -- completes Phase 1 clinical studies of NTX-253 for schizophrenia

        • +3.9% LDG.LN (Logistics Development Group £0.20, +0.01) -- rejects DBAY's possible offer of 20p/sh

        • +3.0% BAVA.DC (Bavarian Nordic A/S DKK230.00, +6.80) -- raises FY26 guidance

        • +2.7% ITM.LN (ITM Power £0.93, +0.02) -- upgrades FY26 guidance

        • +2.5% EMMN.SW (Emmi CHF861.00, +21.00) -- Vontobel upgrade

        • +2.4% 1INN.GR (innoscripta €43.40, +1.00) -- initiates Independent external investigations

      • Notable Decliners

        • -23.0% ALVIO.FP (Valerio Therapeutics €0.38, -0.11) -- acquisition of Etherna Immunotherapies NVexpected to be finalised today

        • -20.8% OPM.FP (OPmobility €10.03, -2.59) -- updates guidance

        • -16.6% LNZ.AV (Lenzing €10.62, -2.08) -- allocation of subscription rights as part of cash capital increase

        • -15.9% ARGX.BB (argenx €706.40, -133.00) -- to discontinue phase 3 UNITY study of efgartigimod SC in Sjögren's disease

        • -10.8% FRVIA.FP (Forvia €8.66, -1.05) -- auto/ orders

        • -10.0% NFG.LN (Next 15 Group £3.01, -0.33) -- earnings

        • -7.3% INH.GR (INDUS Holding €36.60, -2.90) -- NuWays downgrade

        • -5.7% INQ.SS (INQ Group SEK0.13, -0.01) -- secured lenders convert $5.4M of convertible debt into shares

        • -5.1% UTG.LN (UNITE Group £4.19, -0.22) -- trading update

        • -5.0% VEI.NO (Veidekke NOK201.50, -10.50) -- ABG Sundal Collier downgrade

        • -5.0% ZEAL.DC (Zealand Pharma DKK237.00, -12.40) -- Phase 2 ZUPREME-2 trial results

        • -4.7% VLA.FP (Valneva €2.50, -0.12) -- update on IXCHIQ in UK

        • -3.8% SDLF.LN (Standard Life £8.35, -0.33) -- Aberdeen (ABDN.LN) sells 52M shares in Standard Life at 839p/sh

        • -3.2% KAP.LN (Kazatomprom £63.20, -2.10) -- EGM results

        • -3.2% NWRN.SW (Newron Pharmaceuticals CHF7.21, -0.24) -- FDA written communication on clinical hold at US centers

        • -3.0% SIGHT.FP (GenSight Biologics €0.08, -0.00) -- fundraising; trial results publication

        • -2.7% ATT.SS (Attendo SEK120.30, -3.30) -- SEB downgrade

        • -2.7% FSG.LN (Foresight Group Holdings £4.38, -0.12) -- trading update

        • -2.4% HIAB.FH (Hiab €55.80, -1.35) -- DNB Carnegie downgrade

        • -2.4% FAGR.BB (Fagron €22.20, -0.55) -- sales

        • -2.2% DSFIR.NA (DSM-Firmenich €98.08, -2.25) -- Vontobel downgrade

        • -1.5% IGP.LN (Intercede Group £1.33, -0.02) -- trading update

    • EU companies reporting tomorrow:

      • Earnings:

        • France: AB Science (AB.FP)

        • Nordics: Tryg (TRYG.DC), Atrium Ljungberg (ATRLJ.B.SS), Investment AB Öresund (ORES.SS)

      • Trading Update:

        • DACHs: OMV (OMV.AV)

  • Data:

    • Economics:

      • Germany Aug Trade Balance +€19.5B vs consensus +€19B and prior revised to +€21.6B from +€21.3B

    • Markets:

      • WTI Crude (26-Nov): +$4.49 or +5.09% to $92.77

      • €-$ (0.0001) or (0.01%) to 1.1196

      • £-$ (0.0003) or (0.02%) to 1.3211

      • €-£ +0.0000 to 0.8476

      • S&P 500 (0.41%)

      • Performance year-to-date:

        • FTSE 100: +5.14%

        • DAX: +1.29%

        • CAC: (5.15%)

        • MIB: +9.69%

        • Stoxx 600: +5.63%

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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