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StreetAccount Summary - EU Market Recap: FTSE 100 +1.06% to 10552.05, DAX +1.13% to 25087.27, CAC40 +0.95% to 7803.33, STOXX 600 +0.97% to 631.55

Oct 09 ,2026

  • Synopsis:

    • European equity markers generally ended the day higher, with pan-European indices modestly extending initial gains as shares drifted higher before paring advances post Wall Street's open. Sentiment benefited from stabilization in bond markets with France remaining a focal point.

    • Portugal (0.9%), Greece (0.5%) and Austria (0.1%) buck the firmer tone and lead underperformers. Country benchmark gains of around +1% are not uncommon, Sweden +1.7%, Denmark +1.6% and Norway +1.2% join Switzerland, DAX and FTSE100 in leading outperformers

    • In the Middle East, Iran's Islamic Revolutionary Guard Corps says it struck a LPG gas carrier that was attempting to pass through the illegal route south of the Strait of Hormuz, whilst Turkiye's President Erdogan has expressed regret that months of efforts to end the disruption in the Strait of Hormuz have not succeeded. Fighting in Yemen has intensified.

    • Regards the war in Ukraine, US envoys ‌Witkoff and Kushner expected to present 'new proposal' in talks with delegation from Kyiv today, whilst both sides continue to exchange drone/missile strikes, Russia's Yandex says it is struggling to keep services running as it's data centers continue to be hit. Lithuania, Latvia and Estonia proposed a European Union ban on Russian grain exports through the bloc.

    • A light macro data calendar. Norwegian CPI weaker than forecast and Swedish monthly activity beat whilst Italian industrial production missed. ECB President Lagarde told EU finance ministers it has instruments to stabilize financial markets if required followed big move in French bond yields this week. Brussel pushed back against proposals from Italy and Greece for additional fiscal leeway. EU's Dombrovskis emphasized fiscal prudence in light of current bond market developments. Elsewhere, adviser to UK PM Burnham said lower fiscal headroom better option than tax rises.

    • On the reporting front, Airbus SE (AIR.FP) posted its Sep deliveries, whilst Mercedes-Benz Group (MBG.GR) had a pre-close call and Tryg (TRYG.DC) released Q3 earnings.

    • M&A news flow included DCC Energy (DCC.LN) agrees to sell Nexora to One Equity Partners for enterprise value of $725M and details plan to return some of proceeds to shareholders. Hexagon (HEXA.B.SS) to acquire Rocscience. Scotchstone Capital LLP says is consdiering a possible offer for Permanent TSB Group Holdings (PTSB.ID) whilst SilverTree confirms that it does not intend to make an offer for Tribal Group (TRB.LN). Colruyt Group (COLR.BB) in exclusive negotiations with Carrefour (CA.FP) for the potential sale of Codifrance, the French company separately announcing the sale and leaseback of a real estate portfolio of 35 stores in France and Spain. Reportedly, Galp (GALP.PL) exploring sale of its residential customer portfolio, whilst Evonik Industries (EVK.GR) buoyed by article citing BASF (BAS.GR) could increase the offer, Unicredit (UCG.IM) calls extraordinary board meeting amid Banca Generali (BGN.IM) interest speculation and Telefonica (TEF.SM) puts its 'fiberco' up for sale in Chile for up to €1.8B.

    • Other company news included Modern Times Group MTG (MTG.B.SS) postponing PlaySimple's potential IPO citing prevailing conditions in the Indian capital markets. Airtel Mobile Commerce (AMC.LN) shares moved to a slight premium on its stock market debut vs IPO price of 196p, though closed ~ (6.0%) lower. Verici Dx (VRCI.LN) completes increased capital raise. The Beauty Tech Group (TBTG.LN) holders (CEO and CTO) placing a total of 1.5M shares.

    • Elsewhere, Deutsche Telekom (DTE.GR) shares traded lower following news SpaceX will acquire up to 14 megahertz of paired spectrum in 800 MHz band

      • The coming week sees IMF and World Bank annual meetings, EU leaders' summit, France's National Assembly begin to debate budget 2027, OPEC / IEA monthly oil market reports, Paris Motor Show, UK Aug industrial/manufacturing production, Sep final CPIs from across the region as well as earnings/updates from ASML Holding (ASML.NA), bp (BP.LN), Brunello Cucinelli (BC.IM), Givaudan (GIVN.SW), LM Ericsson (ERIC.B.SS), LVMH Moet Hennessy Louis Vuitton (MC.FP), Nordea Bank (NDA.SE.SS), Schneider Electric (SU.FP) and TomTom (TOM2.NA).

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +2.86%, Financial Svcs +2.01%, Retail +1.85%, Ind Goods & Svcs +1.75%, Media +1.74%, Health Care +1.64%, Autos & Parts +1.46%, Persnl & HHold Goods +1.19%

      • Underperformers:

        • Telecom (2.93%), Travel & Leisure +0.03%, Food & Beverage +0.42%, Utilities +0.50%, Real Estate +0.58%, Banks +0.59%, Technology +0.67%, Insurance +0.80%, Oil & Gas +0.88%, Construct & Mtls +0.91%, Chemicals +0.94%

    • Macro/Peripheral markets:

      • EU:

        • Commission selects 46 new Strategic Projects to bolster the EU's supply of critical raw materials - release

        • Faces gas supply shortage as winter looms - Politico

      • Geopolitics

        • Trump says US 'will not be attacking Iran' before midterm elections - FT

      • France

        • France's debt crisis and high school protests draw global attention - Le Monde

      • Germany:

        • SPD, Left Party and Greens in MV end exploratory talks - Handelsblatt

      • Ireland:

        • Budget 2027 tax and welfare measures keep pace with forecast inflation for 2027 - Economic and Social Research Institute (ESRI) post-Budget briefing release

      • Spain:

        • Conservative parties keep solid lead ahead of election, polls show - Reuters

      • UK:

        • Labour retains Holborn and St Pancras in byelection; Polanski 'absolutely' intends to remain Green party leader - The Guardian

        • UK-Japan science and technology Joint Committee: joint statement

        • Ex-Burnham adviser urges Chancellor Healey to cut Budget headroom rather than raise taxes - FT

    • Company news:

      • Notable Gainers

        • +19.6% SLEEP.SS (Sleep Cycle) -- proposes to acquire Audiowell in all share deal

        • +6.4% MIO.ID (Mincon Group) -- Q3 trading update: the board now expects that FY revenue and EBITDA to be ahead of market expectations

        • +4.5% BGN.IM (Banca Generali) -- Unicredit (UCG.IM) calls extraordinary board meeting amid Banca Generali interest speculation -- IlSole24Ore

          • +1.4% UCG.IM (Unicredit)

        • +4.2% SOI.FP (SOITEC) -- to buy from neutral at BofA

        • +3.9% LUVE.IM (LU-VE) -- Q3 product sales €169.2M, +16.9% y/y

        • +3.3% BVI.FP (Bureau Veritas) -- buy from neutral at Citi

        • +3.3% CLA.B.SS (Cloetta) -- buy from neutral at Sparebank 1 Markets

        • +3.2% TRYG.DC (Tryg) -- Q3 net income DKK1.63B vs FactSet DKK1.43B [9 est, DKK1.36-1.53B]

        • +3.2% HEXA.B.SS (Hexagon) -- to acquire provider of geotechnical and engineering analysis software Rocscience for an enterprise value of $535M

        • +3.0% GN.DC (GN Store Nord) -- Amplifon publishes valuation report and fairness opinion in connection with the acquisition of GN's Hearing business

          • +6.9% AMP.IM (Amplifon)

        • +2.2% EVK.LN (Evonik Industries) -- report BASF (BAS.GR) could increase offer

          • (0.0%) BAS.GR (BASF)

        • +1.9% SIKA.SW (Sika Group) -- acquired Azpects Group

        • +1.7% PNOR.NO (Petronor E&P) -- Q3 net working interest production (bopd) 4,298 vs quarter-ago 5,045

        • +1.4% KCC.NO (Klaveness Combination Carriers) -- Q3 2026 Business Update: preliminary fleet average TCE earnings for Q3 ended at $36,116/day vs guidance range of $34,800-36,300/day

        • +1.4% PTSB.ID (Permanent TSB Group Holdings) -- Scotchstone Capital LLP is consdiering a possible offer for company

        • +1.2% CIRSA.SM (Cirsa Enterprises) -- Lottomatica Group (LTMC.IM) shareholders to vote on 23-Nov on combination with Cirsa Enterprises

          • +0.7% LTMC.IM (Lottomatica Group)

        • +1.2% P911.GR (Porsche) -- 9M worldwide deliveries 179,532 (16%) y/y

          • On earnings/updates: MOTR.LN (Motorpoint Group), AIR.FP (Airbus), EXA.FP (Exail Technologies) and reversing initial falls HAUTO.NO (Höegh Autoliners), BNOR.NO (BlueNord)

      • Notable Decliners

        • -15.1% MTG.B.SS (Modern Times Group MTG) -- postponing PlaySimple's potential IPO

        • -8.0% DTE.GR (Deutsche Telekom) -- SpaceX to acquire up to 14 megahertz of paired spectrum in 800 MHz band

        • -6.4% TBTG.LN (The Beauty Tech Group) -- insiders selling shares

        • -6.3% OMG.LN (Oxford Metrics)

          • acquires Move AI Ltd for £525K in cash

          • FY trading update: trading has been below expectations; now expects FY26 revenue of £47.0-51.0M and adj EBIT loss of (£0.5M)- (£3.9M)

        • -4.4% TEF.SM (Telefonica) -- puts its 'fiberco' up for sale in Chile for up to €1.8B -- Expansion

        • -4.1% ATRLJ.B.SS (Atrium Ljungberg) -- Q3 EPS SEK0.56 vs FactSet SEK0.52 [3 est, SEK0.50-0.55]

        • -3.6% SSPG.LN (SSP Group) -- Q4 Trading Update: Q4 Group sales in Q4, +4% y/y on a constant currency basis including LFL sales growth +4%

        • -2.8% OMV.AV (OMV) -- Q3 Trading Update: total hydrocarbon production 294 kboe/d vs year-ago 304 kboe/d

        • -2.8% PNN.LN (Pennon Group) -- sector perform from outperform at RBC Capital Markets

        • -2.5% RMV.LN (Rightmove) -- follows yesterday's gains on takeover speculation

        • -1.9% TIETO.FH (Tieto Corporation) -- hold from buy at Nordea

        • -1.0% TRB.LN (Tribal Group) -- SilverTree confirms that it does not intend to make an offer

          • In earnings/updates: DFCH.LN (Distribution Finance Capital Holdings), SCLP.LN (Scancell Holdings) and reversing initial gains CHG.GR (CHAPTERS Group), ORES.SS (Investment AB Öresund)

    • EU companies reporting Monday:

      • Trading Update:

        • France: LVMH Moet Hennessy Louis Vuitton (MC.FP)

        • Nordics: Vår Energi (VAR.NO), Nordic Mining (NOM.NO)

        • Southern Europe: Galp Energia (GALP.PL)

        • UK: Entain (ENT.LN), Hays (HAS.LN), Greencore Group (GNC.LN), Mondi (MNDI.LN), Dunelm Group (DNLM.LN),

      • Traffic: Flughafen Zuerich (FHZN.SW), Heathrow Airport (+HTR.LN), Aeroflot-Russian Airlines (AFLT.RU)

      • CMD/Events: TietoEVRY (TIETO.FH) payments user group, Porsche (P911.GR) pre-close call, L'Oreal (OR.FP) regional meeting with individual shareholders at 18:30CET

  • Data:

    • Economics:

      • Italy Aug industrial production 0.0% y/y vs consensus (0.3%), prior revised (0.1%) from 0.0%

      • Switzerland Sep consumer sentiment (35.8) vs consensus (31), prior (32.8)

      • Norway Sep

        • CPI +3.4% y/y vs consensus +3.6%, prior +3.3%

        • PPI +48.8% y/y vs consensus +34.0%, prior +30.1%

      • Sweden Aug industrial production +5.8% y/y vs consensus (0.6%), prior +0.2%

      • Austria Aug industrial production (0.5%) y/y vs consensus (0.2%), prior (1.1%)

      • Greece

        • Aug industrial production +5.8% y/y vs consensus (0.3%), prior (1.2%)

        • Sep CPI +5.0% y/y vs consensus +3.7%, prior +3.8%

      • Netherlands Aug manufacturing production +3.3% m/m vs consensus (0.6%), prior revised +2.1% from +1.6%

      • Denmark Aug trade balance DKK31.2B vs consensus DKK36.2B, prior revised DKK38.9B from DKK40.5B

    • Markets:

      • WTI Crude (Nov 26): +$0.55 or +0.60% to $92.04

      • €-$ (0.0017) or (0.15%) to 1.1194

      • £-$ +0.0002 or +0.02% to 1.3229

      • €-£ (0.0015) to 0.8460

      • S&P 500 +0.43%

      • Performance year-to-date:

        • FTSE 100: +6.25%

        • DAX: +2.44%

        • CAC: (4.25%)

        • MIB: +10.68%

        • Stoxx 600: +6.65%

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