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StreetAccount Summary - EU Market Recap: FTSE 100 +0.70% to 10724.86, DAX +0.15% to 25298.61, CAC40 +0.58% to 7873.11, STOXX 600 +0.43% to 637.75

Oct 14 ,2026

  • Synopsis:

    • European equity markets ended higher Wednesday. Follows lower close on Tuesday. Health Care, personal/household goods, along with food/beverage the best performers. Basic resources, media and autos the big laggards.

    • European focus today on ASML's (ASML.NA) Q3 results with raised FY26 sales guidance on AI-driven demand, but warning capacity constraints cloud 2027-28 outlook and flagged slightly softer-than-expected Q4 guidance. Sovereign debt also another main theme as IMF "dialled up" call for governments to rein in debt, while ECB President Lagarde said France must solve debt problems on its own, a pointed signal on ECB intervention. Germany reopens its 21- and 30-year bond auctions and UK its 4-year, a test of demand at elevated yields. Energy-driven inflation remains the backdrop, with Italy PM Meloni said close to deal with EU to cut gas-generated electricity prices. In UK, Chancellor Healey said ready to fully fund Budget giveaways without extra borrowing. Elsewhere, Middle East risk persists, with Houthi attacks on Saudi Arabia (targets including Aramco's HQ) and Iran reportedly shifting tactics against Hormuz shipping.

    • The macro calendar was light with just the final Spanish September CPI coming at +0.3% m/m in line with flash reading.

    • In earnings news, attention to ASML Holding (ASML.NA) after it released Q3 numbers this morning with revenue in line, margins ahead, and a slight raise to FY26 guidance; however, analysts flagged the need for more detail on FY27-28. In Healthcare, Lonza (LONN.SW) issued a presentation in connection with its Capital Markets Day in Vacaville, California, upgrading its organic growth model and mid-term financial ambitions. Additionally, Lonza indicated it continued to perform well in Q3, in line with expectations across all Business Platforms and reiterated its FY26 Outlook. Also in Healthcare, Evotec (EVT.GR) reported stronger-than-expected preliminary 9M earnings and confirmed its FY guidance. In Energy, Aker BP (AKRBP.NO) delivered Q3 production numbers, while among miners Rio Tinto (RIO.LN) issued Q3 production figures mostly in line with expectations.

    • In other corporate developments, SEB (SEB.A.SS) commented on the SFSA decision, with the outcome of the review expected to temporarily reduce its capital buffer by 120bps by increasing risk exposure by SEK 150B. In M&A, Galderma (GALD.SW) will acquire 100% of ZO Skin Health for an enterprise value of $1.5B in an all-cash transaction.

    • Looking ahead to tomorrow's EU econ-calendar, key releases will include, amongst others, France Sep final CPI, Eurozone Aug industrial production, UK industrial/manufacturing production, trade balance, GDP, construction output, Sep monthly GDP tracker - NIESR, and Switzerland Sep PPI.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Health Care +2.31%, Persnl & HHold Goods +1.61%, Food & Beverage +1.38%, Chemicals +0.78%, Real Estate +0.47%

      • Underperformers:

        • Basic Resources (1.18%), Media (0.92%), Autos & Parts (0.71%), Banks (0.54%), Financial Svcs (0.44%), Travel & Leisure (0.33%), Oil & Gas (0.12%), Technology (0.00%), Construct & Mtls +0.00%, Ind Goods & Svcs +0.22%, Retail +0.34%, Insurance +0.36%, Utilities +0.36%, Telecom +0.41%

    • Macro:

      • Central banks:

        • ECB Not Seeing Second-Round Inflation Effects, Lagarde Says -- Bloomberg

        • Bank of England and IMF bosses warn of cyber threat to trust in financial system -- Guardian

      • EU:

        • EU leaders to clash over long-term budget, no quick deal in sight -- Reuters

        • EU-China trade progress welcomed, yet trust issues linger -- Politico

        • EU delays methane rules on oil and gas imports for a year -- Reuters

        • German Push for More EU Action on China Risks Beijing's Ire -- Bloomberg

      • UK:

        • Wages May Deliver a £9B Boost for Healey at UK Budget -- Bloomberg

        • Rejoining EU could give UK a £150B boost, Goldman Sachs claims -- Telegraph

      • Germany:

        • German economy likely slowed in Q3, ministry says -- Reuters

        • Merz attacks extremes for fueling division -- DW

        • German prosecutors accuse Ukraine of Nord Stream sabotage -- FT

      • France:

        • France's Marine Le Pen vows 'trial of strength' with EU -- FT

      • Italy:

        • Italy Is Nearing Deal With EU on Gas Price Cap, Meloni Says -- Bloomberg

        • Meloni lays out Italy's vision for a stronger Europe: Security, competitiveness and strategic autonomy -- Decode39

    • Company news:

      • Notable Gainers

        • +7.8% AVARDA.SS (Avarda Bank SEK211.00, +15.30) -- Q3 earnings

        • +6.7% EVT.GR (Evotec €2.64, +0.16) -- prelim. 9M earnings

        • +5.8% BULTEN.SS (Bulten SEK68.60, +3.80) -- CFO resigns; initiated buy at Sparebank 1 Markets

        • +5.4% BYG.LN (Big Yellow Group £8.38, +0.43) -- Activist fund Ancora reportedly pressing Big Yellow Group to explore potential sale -- Bloomberg

        • +5.3% AVIO.IM (Avio €30.00, +1.52) -- cooperation agreement with Lockheed

        • +5.1% IDIA.SW (Idorsia CHF4.22, +0.20) -- Nxera Pharma signs license, supply and commercialization deal with Synmosa Biopharma for QUVIVIQ

        • +4.4% VTU.LN (Vertu Motors £0.83, +0.04) -- H1 earnings

        • +3.8% RWA.LN (Robert Walters £1.35, +0.05) -- Q3 trading update

        • +3.4% LONN.SW (Lonza Group CHF585.80, +19.00) -- CMD update

        • +3.1% AKRBP.NO (Aker BP NOK369.10, +11.00) -- Q3 production update

        • +3.0% GPE.LN (Great Portland Estates £3.19, +0.09) -- Q2 business update

        • +2.4% CHG.LN (Chemring Group £5.16, +0.12) -- sub. Roke $170M multi-year partnering agreement

        • +2.3% NRC.NO (NRC Group NOK10.08, +0.23) -- €6.5M light rail contract extention

        • +2.3% BOSN.SW (Bossard Holding CHF266.00, +6.00) -- Q3 revenue

        • +2.1% NEL.NO (NEL ASA NOK2.19, +0.04) -- $12M purchase order

        • +1.2% ASML.NA (ASML Holding €1,542.40, +18.60) -- Q3 earnings

      • Notable Decliners

        • -19.6% PNE3.GR (PNE €5.75, -1.39) -- cuts FY earnings guidance

        • -10.7% SCT.LN (Softcat £17.38, -2.05) -- FY earnings

        • -5.3% KLR.LN (Keller Group £31.12, -1.72) -- CMD update

        • -4.6% SEB.A.SS (Skandinaviska Enskilda Banken SEK220.50, -10.70) -- Swedish Financial Supervisory Authority decision on capital requirements

        • -4.5% NORION.SS (Norion Bank SEK60.90, -2.90) -- ABG Sundal Collier downgrade

        • -3.9% ORSTED.DC (Ørsted DKK126.25, -5.15) -- Trump administration has launched renewed effort to halt Ørsted's Revolution Wind farm -- FT, Bloomberg

        • -3.0% ADEN.SW (Adecco Group CHF21.34, -0.66) -- Kepler Cheuvreux downgrade

        • -2.6% ADM.LN (Admiral Group £36.80, -0.96) -- Peel Hunt cuts PT to new Street low; reiterates sell

        • -2.1% LHA.GR (Deutsche Lufthansa €0.00, -0.15) -- confirms Portuguese government's decision to select its offer in the privatization process for TAP Air Portugal; has offered a purchase price of €1.025B for the 44.9% stake

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Sipef (SIP.BB), TomTom (TOM2.NA)

        • DACHs: 2G Energy (2GB.GR), Gerresheimer (GXI.GR)

        • Nordics: Nordea Bank (NDA.SE.SS), EQT (EQT.SS), Telefonaktiebolaget LM Ericsson (ERIC.B.SS), Wallenstam (WALL.B.SS), AQ Group (AQ.SS), OEM International (OEM.B.SS), Entra (ENTRA.NO), NEL (NEL.NO), Kinnevik (KINV.B.SS), Carasent (CARA.SS), Flerie (FLERIE.SS)

      • Trading Statement:

        • Benelux: Fastned (FAST.NA), Sligro Food Group (SLIGR.NA)

        • DACHs: VAT Group (VACN.SW), Kuros Biosciences (KURN.SW), Cicor Technologies (CICN.SW), DocMorris (DOCM.SW), Heidelberg Pharma (HPHA.GR)

        • France: Totalenergies (TTE.FP), Pernod Ricard (RI.FP), Lagardere (MMB.FP), Mercialys (MERY.FP), Thermador Groupe (THEP.FP)

        • Nordics: BW Energy (BWE.NO)

        • Southern Europe: Brunello Cucinelli (BC.IM)

        • UK: Mondi (MNDI.LN), Entain (ENT.LN), Antofagasta (ANTO.LN), Atalaya Mining (ATYM.LN), Dunelm Group (DNLM.LN), Jupiter Fund Management (JUP.LN), XPS Pensions Group (XPS.LN), Rank Group (RNK.LN), Kenmare Resources (KMR.LN)

  • Data:

    • Economics:

      • Spain September CPI y/y +4.9% vs consensus +4.9% and prior +4.9%

    • Markets:

      • WTI Crude (26-Nov): +$0.91 or +0.97% to $95.05

      • €-$ (0.0081) or (0.72%) to 1.1120

      • £-$ (0.0110) or (0.83%) to 1.3146

      • €-£ +0.0009 to 0.8460

      • S&P 500 (0.95%)

      • Performance year-to-date:

        • FTSE 100: +7.99%

        • DAX: +3.30%

        • CAC: (3.39%)

        • MIB: +10.70%

        • Stoxx 600: +7.69%

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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