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StreetAccount Summary - EU Market Recap: FTSE 100 (0.29%) to 10733.00, DAX (0.06%) to 25304.42, CAC40 (0.38%) to 7838.49, STOXX 600 (0.14%) to 638.64

Oct 20 ,2026

  • Synopsis:

    • European indices have mostly ended in negative territory. On the macro-front, German ZEW investor sentiment indicator fell in October to 28.1 versus consensus 32.0 after recording seven-month high of 34.7 in September. Recall that it coincided with September Ifo survey at four-year high and PMI saw business activity at seven-month high. Note, current situation indicator continued to register strong gains with -35.9 reading versus forecast -44.5 and prior -47.1. Meanwhile, the Eurozone reading saw another fall in October to 18.3 versus prior 25.8, while current situation indicator was little changed at -14.8 versus -13.9. In France, the National Assembly postponed vote on revenue section of 2027 state budget scheduled for today. With more than 2,800 amendments still pending after debates closed at midnight on 16-Oct, deputies could not finish in time. Assembly must begin examination of social security financing bill as first-read deadline expires 27-Oct. The state budget's own 40-day limit runs to 17-Nov, with final parliamentary windows closing on 26-Nov for social security and 17-Dec for state budget. After those dates, government may implement texts by ordinance. In the UK, UK jobless claims up more than expected, but number of payrolled worked unexpectedly increased and unemployment rate dipped. Wage growth mixed. Private sector wages edged up. Swiss trade surplus narrowed sharply due to a big jump in imports, while exports were subdued overall. Meanwhile, German Chancellor Merz talked up investment in AI and reform of the social welfare system. Highlighted that rapid decision can be made on senior vacancies at ECB if needed, which could include successor to president Lagarde. Elsewhere, UK Chancellor Healey has ruled out capital gains tax increase because of the damage to investment

    • On the earnings front, DACHs names kicked off the morning session, with ABB (ABBN.SW), HUBER+SUHNER and COMET Holding (COTN.SW) posting their most recent numbers; in France, ENGIE (ENGI.FP) and OVHCloud (OVH.FP) also reported before the open, whilst Schneider Electric (SU.FP) placed 25M new shares at €240/each. In the UK, Bunzl (BNZL.LN), Genuit Group (GEN.LN) and Wickes (WIX.LN) among few other names to report before the open. In M&A, Gulf Keystone (SKP.LN) and ShaMaran Petroleum Ltd. (SNM.NO) announced that they signed a Bermuda merger agreement and a combination agreement to combine their businesses

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers: Health Care +1.83%, Travel & Leisure +1.28%, Utilities +0.93%, Autos & Parts +0.83%, Insurance +0.82%, Real Estate +0.65%, Retail +0.60%, Food & Beverage +0.39%, Persnl & HHold Goods +0.14%, Telecom +0.08%, Financial Svcs (0.09%), Construct & Mtls (0.13%)

      • Underperformers: Ind Goods & Svcs (1.43%), Oil & Gas (1.16%), Basic Resources (1.13%), Technology (0.91%), Chemicals (0.76%), Media (0.50%), Banks (0.38%)

    • Macro:

      • As France erupts, Europe's far right gains from fuel-price anger ahead of elections (Reuters)

      • French PM plans 'massive' police operation, weighs military forces for Saturday's protests (F24)

      • Italian govt to approve deployment of 500 troops with police powers in Milan (Ansa)

      • Italy Set to Tighten Rules as Milan Luxury Shops Shut Early (BBG)

      • Hackers steal 421,000 emails belonging to members of Germany's far-right AfD party (EN)

      • UK Chancellor rejects calls to raise Capital Gains Tax in Budget (BBC)

      • UK to deploy jets to defend Saudi Arabia against Houthi attacks (FT)

      • Spanish left-wing chaos dampens Sánchez's hopes of election miracle (Politico)

    • Company news:

      • Notable Gainers

        • +11.6% BMAX.SS (Byggmax Group SEK61.70, +6.40) -- Q3 earnings; initiates repurchases of own shares for maximum amount up to SEK 60M

        • +9.8% SCST.SS (Scandi Standard SEK181.20, +16.20) -- Q3 earnings

        • +7.7% ADOC.FP (Adocia €2.46, +0.17) -- announces €7M financing; extends cash runway until Q1 2028

        • +6.9% ARGX.BB (argenx €781.80, +50.40) -- study results

        • +5.4% SANION.SS (Saniona SEK10.56, +0.54) -- submits IND application for SAN2465 for the treatment of major depression

        • +4.7% COTN.SW (COMET Holding CHF343.60, +15.40) -- Q3 update; Vontobel upgrade

        • +4.2% KIO.SJ (Kumba Iron Ore ZAR224.31, +8.97)

        • +3.8% QIA.GR (Qiagen €42.70, +1.59) -- circulation of comments attributable to M&A blog cited

        • +3.6% SAN.FP (Sanofi €73.44, +2.57)

        • +3.2% CPI.LN (Capita £3.00, +0.10) -- postpones Capital Market Event on 4-Nov

        • +3.0% BRG.NO (Borregaard NOK149.00, +4.40) -- Berenberg upgrade

        • +2.9% LIME.SS (Lime Technologies SEK267.00, +7.50) -- Q3 earnings

        • +2.8% DKSH.SW (DKSH Holding CHF74.00, +2.00)

        • +2.6% ROP.SW (Roche Holding CHF389.90, +9.80) -- study results; Oddo upgrade

        • +1.5% TEL2.B.SS (Tele2 SEK161.05, +2.35) -- Q3 earnings

      • Notable Decliners

        • -14.7% BAR.BB (Barco €6.15, -1.07) -- prelim Q3 earnings

        • -11.6% GEN.LN (Genuit Group £2.54, -0.34) -- 9M trading update

        • -10.5% SBRE.LN (Sabre Insurance Group £1.64, -0.19) -- trading update

        • -9.3% GKP.LN (Gulf Keystone Petroleum £2.07, -0.21) -- trading update; to combine with ShaMaran Petroleum

        • -5.8% ALSN.SW (ALSO Holding CHF204.50, -12.50)

        • -5.4% 2GB.GR (2G Energy €45.18, -2.56)

        • -5.3% EMBLA.DC (Embla Medical hf DKK26.05, -1.45) -- Q3 earnings

        • -5.3% MUM.GR (Mensch & Maschine Software €33.70, -1.90) -- 9M earnings

        • -5.0% ABBN.SW (ABB Limited CHF70.96, -3.74) -- Q3 earnings; announces JV with Mitsubishi Electric

        • -4.8% SDF.GR (K+S Aktiengesellschaft €13.08, -0.66)

        • -4.7% BRAV.SS (Bravida Holding SEK141.70, -7.00) -- Nordea downgrade

        • -4.3% G4M.LN (Gear4music (Holdings) £2.23, -0.10) -- H1 trading update

        • -3.9% SOLB.BB (Solvay €23.72, -0.98) -- prelim Q3 earnings

        • -3.8% IFCN.SW (Inficon Holding CHF170.20, -6.80)

        • -3.8% PON1V.FH (Ponsse €20.40, -0.80) -- Q3 earnings

        • -3.4% FTK.GR (flatexDEGIRO €24.36, -0.86)

        • -3.3% LDG.LN (Logistics Development Group £0.22, -0.01)

        • -3.3% SU.FP (Schneider Electric €243.45, -8.30) -- places 25M new shares at €240/share

        • -3.1% MGAM.LN (Morgan Advanced Materials £2.66, -0.09)

        • -2.9% ATCO.A.SS (Atlas Copco SEK191.25, -5.70)

        • -2.9% TRB.LN (Tribal Group £1.01, -0.03)

        • -2.8% BNZL.LN (Bunzl £27.14, -0.80) -- Q3 trading update

        • -2.7% ASML.NA (ASML Holding €1,457.60, -40.60)

        • -2.5% SL.IM (Sanlorenzo €34.22, -0.88) -- The Italian Sea Group completes second phase of the competitive process; 5 binding offers received

        • -2.3% NOKIA.FH (Nokia €8.14, -0.19)

        • -2.0% METSO.FH (Metso Corp. €16.34, -0.34) -- acquires Brazilian bronze alloy component manufacturer Italbronze

        • -1.7% KMR.LN (Kenmare Resources £2.23, -0.04) -- issues reponse to Mozambican media reports on Moma mine Implementation agreement

        • -0.9% IFX.GR (Infineon Technologies €52.18, -0.48)

        • -0.8% XPP.LN (XP Power £17.52, -0.14) -- Q3 revenue

        • -0.2% LNZ.AV (Lenzing €10.54, -0.02)

    • EU companies reporting tomorrow:

      • Earnings:

        • Benelux: Akzo Nobel (AKZA.NA), Randstad (RAND.NA)

        • DACHs: SAP (SAP.GR), VEF (VEFAB.SS)

        • Denmark: DSV (DSV.DC), Ringkjøbing Landbobank (RILBA.DC)

        • Finland: Elisa (ELISA.FH), Terveystalo (TTALO.FH)

        • France: Claranova (ALCLA.FP)

        • Norway: DNB Bank (DNB.NO), Vår Energi (VAR.NO), Storebrand (STB.NO),

        • Sweden: Svenska Handelsbanken (SHB.A.SS), SKF (SKF.B.SS), Getinge (GETI.B.SS), HMS Networks (HMS.SS), Wihlborgs Fastigheter (WIHL.SS), Fabege (FABG.SS), AddLife (ALIF.B.SS), Husqvarna (HUSQ.B.SS), Inwido (INWI.SS), MIPS (MIPS.SS), JM (JM.SS), Dynavox Group (DYVOX.SS), Bergman & Beving (BERG.B.SS), Nederman Holding (NMAN.SS), Ovzon (OVZON.SS), HEBA Fastighets (HEBA.B.SS), Swedencare (SECARE.SS), Fagerhult Group (FAG.SS), Humble Group (HUMBLE.SS), KlaraBo (KLARA.B.SS), ByggPartner Gruppen (BYGGP.SS), Bulten (BULTEN.SS), BE Group (BEGR.SS), MAG Interactive (MAGI.SS)

        • Southern Europe: Iberdrola (IBE.SM)

      • Trading Update:

        • Benelux: Basic-Fit (BFIT.NA)

        • DACHs: Renk Group (R3NK.GR), flatexDEGIRO (FTK.GR)

        • France: Bureau Veritas (BVI.FP), Eurofins Scientific (ERF.FP), Klepierre (LI.FP), Edenred (EDEN.FP), Covivio (COV.FP), La Francaise des Jeux (FDJU.FP), Wendel (MF.FP), Interparfums (ITP.FP), ID Logistics Group (IDL.FP), Fnac Darty (FNAC.FP), Synergie (SDG.FP), ATOS (ATO.FP)

        • Southern Europe: Moncler (MONC.IM), GR Sarantis (SAR.GA)

        • UK: Fresnillo (FRES.LN), Aberdeen Group (ABDN.LN), Hochschild Mining (HOC.LN), Quilter (QLT.LN), SigmaRoc (SRC.LN), Halfords Group (HFD.LN), PensionBee Group (PBEE.LN), Liontrust Asset Management (LIO.LN)

      • CMD/Events: Forbo Holding (FORN.SW)

    • Macro-data scheduled for tomorrow: UK Sep CPI/RPI/PPI input/output

  • Data:

    • Economics:

      • Germany

        • Oct ZEW Economic Sentiment Indicator 28.1 vs consensus 32.0 and prior 34.7

        • Sep PPI y/y +6.7% vs consensus +5.3% and prior +4.6%

      • Eurozone Aug Construction Output +1.4% y/y consensus (2.3%) and prior revised (1.7%) from (2.0%)

      • UK Aug ILO Unemployment Rate 4.7% vs consensus 4.9% and prior 4.9%

      • Italy Aug Construction Output (2.2%) y/y vs consensus (1.8%) and prior revised (0.1%) from (1.2%)

      • Spain Aug Trade Balance (€7.81B) vs consensus (€6.4B) and prior (€5.22B)

      • Switzerland Sep

        • Trade Balance (sa) CHF1.4B vs consensus CHF4.3B and prior revised CHF5.4B from CHF5.6B

        • Watch Exports +52.6% to CHF 1.17B

    • Markets:

      • WTI Crude (Nov 26): ($0.91) or (0.88%) to $102.75

      • €-$ +0.0019 or +0.17% to 1.1232

      • £-$ +0.0070 or +0.53% to 1.3375

      • €-£ (0.0028) to 0.8400

      • S&P 500 +0.36%

      • Performance year-to-date

        • FTSE 100: +8.07%

        • DAX: +3.32%

        • CAC: (3.82%)

        • MIB: +9.18%

        • Stoxx 600: +7.84%

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