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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.38% to 10881.90, DAX +0.95% to 25622.61, CAC40 +0.28% to 7956.70, STOXX 600 +0.72% to 644.74

Oct 16 ,2026

  • Synopsis:

    • European equities finished higher Friday, near best levels. US equities mostly lower in midday trading. Treasuries mostly firmer with yield curve steepening. Dollar index down 0.3%. Gold up 0.9%; silver up 1.2%. Bitcoin futures flat. WTI crude down 1.0% after a six-day streak of gains.

    • Sentiment stabilizing into Friday supported by some dip buying, alongside a pause in the KOSPI's sharp downslide overnight. Not a lot of AI headline flow though some focus on Anthropic's IPO plans after Reuters report some investors considering a lower valuation. A lot of attention on Fed Chair Warsh's comments overnight as noncommittal remarks helped to further solidify expectations for FOMC hold this month (FedWatch hike odds now only ~15%). Hammack Thursday afternoon reiterated that deterioration of inflation expectations could mean Fed has to work harder to tame inflation. Fairly quiet on geopolitical front. Trump ramped up criticism on Ukraine's Zelenskiy for continuing to target Russian energy infrastructure.

    • EU leaders advancing steps to address large trade deficit with China. EU Commission evaluating trade data as precursor to potential restrictions in other sectors, including proposals for powers that could exclude a rival economy (such as China) from single market in extreme cases. On monetary policy, BoE Governor Bailey noted limited evidence so far of second-round inflation effects from higher energy prices, while ECB's Nagel said he would not rule out additional hikes if conditions remain unchanged. In data, Eurozone inflation confirmed at three-year high of 3.2%. In regional geopolitics, EU leaders' summit continued today, EU leaders vowing continued support for Ukraine despite growing divide with US.

    • On the reporting front, Schneider Electric (SU.FP) reported solid Q3 update and upgraded FY26 guidance. Out of DACHS, Aixtron (AIXA.GR) announced Q3 order intake and operating profitability significantly exceed market expectations. Nordex (NDX1.GR) out with preliminary Q3 results. In Italy, Brunello Cucinelli (BC.IM) posted Q3 sales beat, driven by strong direct-to-consumer performance and raised FY26 revenue-growth guidance. In the UK, Man Group (EMG.LN) out with AuM update and Wise Group out with strong Q2 trading update, however, margin guidance weighed on sentiment.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Autos & Parts +1.55%, Retail +1.44%, Food & Beverage +1.37%, Telecom +1.26%, Financial Svcs +1.26%, Utilities +1.26%, Oil & Gas +1.23%, Media +1.12%, Travel & Leisure +1.05%, Insurance +0.93%, Basic Resources +0.91%, Persnl & HHold Goods +0.89%, Construct & Mtls +0.79%, Ind Goods & Svcs +0.74%, Banks +0.74%

      • Underperformers:

        • Health Care (0.25%), Technology +0.06%, Chemicals +0.28%, Real Estate +0.30%

    • Macro:

      • Central Banks:

        • ECB's Rehn says more data needed for December decision, measured approach appropriate, no second-round effects yet (Bloomberg)

        • Bundesbank's Nagel does not rule out further rate hikes if situation remains unchanged (Bloomberg)

        • BOE governor Bailey sees little evidence so far of embedded UK inflation (Bloomberg)

      • Geopolitics:

        • Denmark, Italy, Poland urge EU leaders to harden stance on irregular migration (Politico )

        • Poland Offers More NATO Troops If Allies Buy From Its Defense Industry (Bloomberg )

      • UK:

        • UK Bank Tax Plan Risks Putting Healey at Odds With BOE's Bailey (Bloomberg )

        • Healey Considers New UK Investor Visa for Wealthy Foreigners (Bloomberg )

      • Germany:

        • Germany to unveil Nvidia AI agreement next week, government sources say (Reuters )

        • France and Germany nearing provisional compromise that would ease EU's 2035 car CO2 target to 90% reduction from 2021 levels, without requiring automakers to close remaining gap via low-carbon steel or alternative fuels (Reuters, Politico)

    • Peripheral markets:

      • Italy:

        • Bank of Italy Lifts Growth Outlook, Matching Government Forecast (Bloomberg )

      • Spain:

        • Italy prolongs Schengen suspension with Spain, talks loom (Reuters )

        • Spanish opposition leader Feijóo calls for navy to be deployed to Ceuta (Politico )

    • Company news:

      • Notable Gainers

        • +16.6% VBK.GR (Verbio €29.84, +4.24) -- Jefferies upgrade

        • +16.0% ALATA.FP (Atari, Inc. €14.90, +2.05) -- applies to OTC Markets Group Inc. to upgrade US quotation of its ordinary shares from OTC Pink Market to OTCQX International Market

        • +12.3% NDX1.GR (Nordex €39.14, +4.28) -- prelim Q3 earnings

        • +6.2% AIXA.GR (Aixtron €32.89, +1.91) -- announces Q3 2026 order intake and operating profitability significantly exceed market expectations

        • +5.4% CMCX.LN (CMC Markets £7.16, +0.37) -- re-initiated buy at Peel Hunt

        • +5.2% AML.LN (Aston Martin Lagonda Global Holdings £0.38, +0.02)

        • +4.7% LDO.IM (Leonardo €50.42, +2.28) -- EU Commission anticipated to give fast-track antitrust approval to satellite company being formed by Leonardo, Airbus, and Thales, known as Project Bremo - Bloomberg

        • +4.4% DLG.IM (De'Longhi €43.68, +1.84) -- increases its stake to 88% in professional division; issues aide-mémoire Q3 2026

        • +4.3% BC.IM (Brunello Cucinelli €87.28, +3.58) -- Q3 revenue

        • +3.5% BIRG.ID (Bank of Ireland Group €18.87, +0.63) -- JPMorgan upgrade

        • +3.3% EQT.SS (EQT AB SEK298.10, +9.60) -- Investor acquires 12.5M shares in company for total consideration of ~ SEK 3.5B from Wallenberg Investments

        • +2.8% HO.FP (Thales €234.00, +6.30) -- EU Commission anticipated to give fast-track antitrust approval to satellite company being formed by Leonardo, Airbus, and Thales, known as Project Bremo - Bloomberg

        • +2.3% INVE.B.SS (Investor SEK422.60, +9.35) -- Q3 earnings; acquires 12.5M shares in EQT AB for total consideration of ~ SEK 3.5B from Wallenberg Investments

        • +0.8% SHEL.LN (Shell Plc £39.38, +0.30) -- Shell Plc agrees sale of French unit to DCC Energy -- source tells Reuters

      • Notable Decliners

        • -2.8% AZA.SS (Avanza Bank Holding SEK365.70, -10.60) -- Q3 earnings

        • -1.9% DNORD.DC (D/S Norden DKK370.60, -7.20)

        • -1.8% SU.FP (Schneider Electric €253.30, -4.70) -- Q3 revenue

        • -1.2% NWG.LN (NatWest Group £6.66, -0.08) -- Healey poised to raise bank tax in budget to protect fiscal plans

        • -0.9% LLOY.LN (Lloyds Banking Group £1.05, -0.01) -- RBC Capital Markets upgrade

        • -0.2% LHA.GR (Deutsche Lufthansa €7.19, -0.02) -- Deutsche Lufthansa exploring potential sale of certain IT software assets in potential €1B transaction -- FT; Lufthansa subsidiary Eurowings considering short-time work due to high kerosene costs -- Handelsblatt

    • EU companies reporting Monday 19-Oct:

      • Earnings:

        • DACHs: BAWAG Group (BG.AV)

        • Nordics: Traction (TRAC.B.SS)

        • UK: ITM Power (ITM.LN), Tristel (TSTL.LN), Beeks Financial Cloud Group (BKS.LN)

      • Trading Update:

        • DACHs: Aryzta (ARYN.SW)

        • France: Virbac (VIRP.FP)

      • Traffic: VINCI (DG.FP)

  • Data:

    • Economics:

      • Eurozone

        • Sep CPI +3.8% y/y vs prelim +3.8%; +0.6% m/m vs prelim +0.6%

          • Sep core CPI +2.5% y/y vs prelim +2.5%

        • Aug Trade Balance (€16.1B) vs prior revised €10.7B from €14.2B

      • Italy

        • Sep CPI +4.2% y/y vs prelim 4.2%; +0.7% m/m vs prelim +0.7%

          • EU Harmonised: +4.2% y/y vs prelim +4.1%; +2.1% m/m vs prelim +2.0%

        • Aug Trade Balance €1.77B vs cons €7.5B and prior revised €8.25B from €8.24B

      • Sweden Sep unemployment rate 8.1% vs cons 8.6% and prior 8.5%

      • Austria Sep final Sep CPI +3.6% vs prelim +3.6%; +0.2% vs prelim +0.2%

    • Markets:

      • WTI Crude (Nov 26): ($0.16) or (0.16%) to $97.81

      • €-$ +0.0021 or +0.19% to 1.1244

      • £-$ +0.0066 or +0.50% to 1.3341

      • €-£ (0.0023) to 0.8430

      • S&P 500 (0.39%)

      • Performance year-to-date

        • FTSE 100: +9.57%

        • DAX: +4.62%

        • CAC: (2.37%)

        • MIB: +10.93%

        • Stoxx 600: +8.87%

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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