Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.07% to 10729.78, DAX (0.85%) to 25818.21, CAC40 (0.01%) to 7969.42, STOXX 600 (0.36%) to 646.75

Oct 30 ,2026

  • Synopsis:

    • European equity markets ended mixed to mostly lower. Spain and Italy worst performers, with the FTSE MIB and IBEX both closing down ~(1%). Stoxx 600 still on course for decent gains on the week. US equities lower in Friday midday trading, not far from worst levels. Follows a mixed performance for stocks on Thursday. Another day of notable tech weakness to close an up-and-down week, with latest earnings disappointments in view. AI takeaways from AMZN largely upbeat, though expectations elevated and FCF headwinds from outsized capex still an overhang. Slowdown in non-AI segments another key area of scrutiny (similar to GOOGL). INTC results also play into the positive AI compute/capex demand narrative, though margin pressure (and PC headwinds) from memory cost surge and supply constraints receiving bulk of the attention. No help from weaker reports at RDDT, TWLO, and RBLX.

    • Recent selloff across megacap tech, semis a growing overhang for further AI capex, capital raises. Bloomberg noted Alphabet shares now 22% below its $85B June equity offering price, Intel down 33% from its $23B August equity offer, while shareholders who participated in Meta's $25B offering Monday already more than 2% underwater. Fresh equity digestion headwinds arrive ahead of Anthropic's expected November IPO, which could exceed SpaceX for largest debut in history. Pre-IPO perpetual contracts of Anthropic on Hyperliquid are trading at their lowest levels since listing in mid-August, down ~25% from their 9-Sep peak.

    • Oil gained, with WTI crude more than 2% higher above $104/bbl. Brent above $113/bbl. No change on Middle East dynamics. Reports said US military has presented Trump with options for renewed strikes on Iran. Tehran said diplomatic progress depends on acceptance of seven conditions. Oil has moved higher on the potential for renewed US military action.

    • Gold at new YTD lows well below $4000. Industrial metals mixed. Bitcoin lower. Attention on cryptocurrency after suspected hack at Binance, prompting it to freeze $3B in assets while Tether and Circle froze $2.5B in stablecoins.

    • Another heavy earnings calendar to digest in Europe. AI-capex fears from Intel and Amazon impacting EU Tech sector. Banks lower on mixed results and cautious France view from ACA.FP, adjusted PBT miss from NWG.LN although CABK.SM Q3 net profit beat consensus by 8%. Strength in defensives largely earnings-driven on Sanofi (SAN.FP) Q3 beat and outlook upgrade, AstraZeneca (AZN.LN) Q3 beat and $1.5B savings plan, Bayer (BAYN.GR) Roundup court trial win. Media outperformed on UMG.NA earnings beat.

    • Investors continue to digest central bank policy after key meetings this week. ECB takeaways highlight likelihood of December rate hike unless there is a notable deterioration in growth outlook. Source reports also signalled December tightening and then a pause. BoJ on hold via an 8-1 vote, as expected. Outlook Report declared underlying inflation has effectively reached 2% target. Repeated upside risks to inflation from Middle East conflict, AI demand and weak yen. Market prices in 80% chance of a December hike.

    • Heavy data calendar at month-end. Eurozone Q3 beat expectations after mixed national updates, which saw French and Italian data miss, but German, Dutch and Austrian readings beat and Spain met expectations. ECB surveys see professional forecasters revising up headline and core inflation in the near-term; non-financial firms point to ongoing growth in Q3 and unchanged momentum in Q4. German jobless claims increased modestly, as expected.

    • In the UK, latest public inflation expectations number from Citi/YouGov eased in October, but unlikely to change November rate hike expectations. Lloyds Bank business confidence barometer improved after last month's sharp decline, with six-point gain. Nationwide house price measure was flat. Monthly BoE DMP survey and BoE Agents report saw increase in inflation expectations, but no sign of pass-through into wages. Meanwhile, more skepticism over UK Budget plans.

    • The week ahead sees clocks go back in the USA, OPEC+ meeting, interest rate decisions by BOE and Norges Bank amongst others, Oct manufacturing/services PMIs from across the region as well as earnings/updates from ArcelorMittal (MT.NA), Bayer (BAYN.GR), BT Group (BT.A.LN), DHL Group (DHL.GR), Diageo (DGE.LN), Leonardo (LDO.IM), Maersk (MAERSK.B.DC), Novo Nordisk (NOVO.B.DC), Prudential (PRU.LN), Ryanair Holdings (RYA.ID) and Swiss Re (SREN.SW). Of note, US clocks go back 1 hour at 2:00 (local time) on Sun (1st) and there are the Midterm Congressional elections on Tue, the same day as stock exchange closed in Japan for a public holiday. Realistically, if UK PM Burnham is to call a snap general election to be held this year, an announcement will be required this week.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Food & Beverage +2.40%, Health Care +2.30%, Persnl & HHold Goods +1.74%, Media +1.63%, Chemicals +1.05%, Insurance +0.57%, Telecom +0.49%, Real Estate +0.44%, Retail +0.19%, Financial Svcs (0.01%), Utilities (0.12%), Oil & Gas (0.17%), Travel & Leisure (0.28%), Construct & Mtls (0.33%)

      • Underperformers:

        • Basic Resources (2.75%), Technology (2.73%), Banks (2.31%), Ind Goods & Svcs (1.50%), Autos & Parts (0.61%)

    • Macro/politics

      • US tech stocks tumble as earnings stoke AI spending fears (FT )

      • Commission takes a key step forward on 2027 financial support for Ukraine -- link

      • Economy minister warns France could 'hit the wall' as new figures show GDP contraction (POLITICO)

      • Protesters clash with police in Rome, Turin and Vicenza (ANSA )

    • Company news:

      • Notable Gainers

        • +12.1% PROX.BB (Proximus €6.23, +0.67) -- Q3 earnings

        • +11.7% MCG.LN (Mobico Group £0.44, +0.05) -- Autobuses de León, S.L. cash offer at 46p/ Mobico sh

        • +8.8% XBRANE.SS (Xbrane Biopharma SEK14.15, +1.15) -- Q3 earnings

        • +7.2% AZN.LN (AstraZeneca £139.98, +9.46) -- Q3 earnings, initiates Reshaping for Sustainable Growth programme

        • +6.7% BT.A.LN (BT Group £2.27, +0.14) -- Virgin Media O2 approaching deal to use BT's broadband network - FT

        • +6.0% AEDAS.SM (AEDAS Homes €23.75, +1.35) -- Neinor Homes cash offer at €24.0/ AEDAS Homes share

        • +5.9% PUM.GR (Puma €26.69, +1.48) -- Q3 revenue

        • +5.8% ANORA.FH (Anora Group €4.19, +0.23) -- Q3 earnings

        • +5.8% SCR.FP (SCOR SE €34.92, +1.90) -- Q3 earnings

        • +5.6% CRBN.NA (Corbion €27.37, +1.45) -- Barclays upgrade

        • +5.2% SAN.FP (Sanofi €80.08, +3.93) -- Q3 earnings

        • +4.7% BAYN.GR (Bayer AG €50.22, +2.26) -- US Court ruling in first Roundup trial

        • +4.3% BONHR.NO (Bonheur NOK265.00, +11.00) -- Q3 earnings

        • +3.9% CARL.B.DC (Carlsberg DKK971.00, +36.80)

        • +3.8% EL.FP (EssilorLuxottica €184.95, +6.75) -- Czech billionaire Strnad offers €30B for EssilorLuxottica shareholder Delfin -- Reuters, il Domani

        • +3.1% LOOMIS.SS (Loomis SEK557.00, +17.00) -- Q3 earnings

        • +2.4% KMR.LN (Kenmare Resources £2.38, +0.06) -- renewal of key rights and concessions pursuant to Moma's Implementation agreement until 2044 in Mozambique

        • +2.4% WKL.NA (Wolters Kluwer €86.76, +2.06) -- divests German consumer tax business for €40M

        • +1.5% GXI.GR (Gerresheimer €32.38, +0.48) -- prelim. Q3 earnings

        • +1.4% QLINEA.SS (Q-linea SEK14.90, +0.20) -- Q3 earnings

        • +0.7% DOC.AV (DO & CO €208.00, +1.50) -- initiated buy at UBS

      • Notable Decliners

        • -15.2% AMP.IM (Amplifon €11.08, -1.99) -- Q3 earnings

        • -11.9% IQE.LN (IQE £0.34, -0.05) -- Atomera (ATOM) results

        • -10.5% JLP.LN (Jubilee Metals Group £0.02, -0.00)

        • -9.4% AKTIA.FH (Aktia Bank €11.14, -1.16) -- Q3 earnings

        • -9.3% ETL.FP (Eutelsat Communications €1.82, -0.19) -- Q1 revenue

        • -8.9% LPK.GR (LPKF Laser & Electronics €10.20, -1.00)

        • -8.6% NWG.LN (NatWest Group £5.80, -0.55) -- Q3 earnings

        • -8.3% GMM.GR (Grammer €9.35, -0.85) -- final Q3 earnings

        • EU tech sector

          • -8.0% ASM.NA (ASM International €726.80, -62.80)

          • -6.7% IFX.GR (Infineon Technologies €50.40, -3.61)

          • -6.2% ASML.NA (ASML Holding €1,411.40, -93.40)

        • -5.5% AAF.LN (Airtel Africa £2.59, -0.15) -- H1 earnings

        • -5.0% ECMPA.NA (Eurocommercial Properties €24.70, -1.30) -- 9M earnings; acquires Les Grands Prés, in Belgium and places 5.2M new shares at €24.70/sh, resulting in €128.4M gross proceeds

        • -4.6% ACX.SM (Acerinox €16.22, -0.78) -- Q3 earnings

        • -3.6% YIT.FH (Yit €3.86, -0.15) -- Q3 earnings

        • -3.2% ALCOX.FP (Nicox €0.30, -0.01) -- H1 earnings

        • -2.9% VLK.NA (Van Lanschot Kempen €61.90, -1.85) -- 9M trading update

        • -2.8% BITTI.FH (Bittium €38.60, -1.10) -- OP Corporate Bank downgrade

        • -2.2% STERV.FH (Stora Enso €9.54, -0.21) -- Q3 earnings; approves Bergslagets Skogar demerger plan; announces strategic targets and dividend policy

        • -2.1% SLP.LN (Sylvania Platinum £0.84, -0.02) -- Q1 earnings

        • -2.1% TPEIR.GA (Piraeus Bank €9.80, -0.21) -- Q3 earnings

        • -1.5% FUR.NA (Fugro €7.95, -0.12) -- Q3 revenue

        • -0.3% ADOC.FP (Adocia €3.05, -0.01) -- Q3 revenue

    • EU companies reporting Monday:

      • Earnings:

        • DACHs: AdvancedAdvT (06P0.GR), Amadeus FiRe (AAD.GR)

        • France: Coface (COFA.FP)

        • Nordics: Bakkafrost (BAKKA.NO), AcadeMedia (ACAD.SS), Framery Group (FRAMERY.FH), Aspo (ASPO.FH), Ilkka (ILKKA.FH)

        • Southern Europe: Lottomatica Group (LTMC.IM), Grifols (GRF.SM), Corticeira Amorim (COR.PL)

        • Other: Ryanair Holdings (RYA.ID)

      • Trading Update:

        • France: Forvia (FRVIA.FP)

      • CMD/Events: Kalmar (KALMAR.FH), Grupo Ezentis (EZE.SM) EGM, Saniona (SANION.SS) EGM, Gentoo Media (G2M.SS) EGM

  • Data:

    • Economics:

      • Q3 Preliminary GDP

        • Finland +1.8% y/y vs consensus +2.0% and prior +1.6%

        • France (0.1%) y/y vs consensus +0.3% and prior +0.5%

        • Austria +0.6% y/y vs consensus +0.2% and prior +0.4%

        • Spain +2.7% y/y vs consensus +2.7% and prior +2.6%

        • Netherlands +2.1% y/y vs consensus +1.4% and prior +1.6%

        • Germany +1.2% y/y vs consensus +1.1% and prior +1.0%

        • Italy +0.8% y/y vs consensus +0.9% and prior +1.0%

        • Portugal +2.4% y/y vs consensus +2.2% and prior +2.5%

      • Oct Preliminary CPI

        • France +3.4% y/y vs consensus +3.2% and prior +3.1%

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

      • France Sep Consumer Spending (0.5%) m/m vs consensus +0.1% and prior (0.5%) (2:30ET)

      • Denmark Sep Unemployment Rate 2.7% vs consensus 2.8% and prior 2.7%

      • Germany Oct Unemployment Change +4K vs consensus +5K and prior +12K

      • UK Oct Nationwide House Price Index +0.5% y/y vs consensus +0.6% and prior +0.8%

      • France Sep PPI +6.8% y/y vs consensus +5.4% and prior revised +4.9% from +4.8%

    • Markets:

      • WTI Crude (Dec 26): +$2.18 or +2.14% to $104.18

      • €-$ (0.0023) or (0.21%) to 1.1160

      • £-$ +0.0021 or +0.16% to 1.3397

      • €-£ (0.0027) to 0.8331

      • S&P 500 (1.57%)

      • Performance year-to-date

        • FTSE 100: +8.04%

        • DAX: +5.42%

        • CAC: (2.21%)

        • MIB: +10.14%

        • Stoxx 600: +9.21%

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.
Please refer to "Terms Of Use".

DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE