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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +0.29% to 10761.33, DAX +0.63% to 25981.09, CAC40 +0.98% to 8047.69, STOXX 600 +0.42% to 649.44

Nov 02 ,2026

  • Synopsis:

    • European equity markets broadly mixed to mostly higher in very volatile trading. Follows last week's strong gains. Travel/leisure, construction, retail among the top sector gainers. Energy, healthcare and telecom the laggards. S&P marginally higher Monday. Comes after US equities sold off on Friday with Nasdaq suffering its worst session since June and second-worst session of the year. Treasuries mixed with the curve flattening; yields down 3-4 bp at the long end. European government bonds mixed, with UK Gilts extending their rally as 10Y yields fall 11.0bp , while German Bund and French OAT yields broadly flat, leaving the OAT-Bund spread broadly stable at 160.8bp versus 160.7bp at the previous close. Euro and sterling up a little with dollar index down 0.2%. Gold up 2% after settling back below $4K on Friday; silver up 3.7%.

    • WTI crude down (6.9%). Diplomatic efforts between Qatari mediators and Iranian officials ongoing. Latest updates note talks center on deal to reopen Hormuz within two days. Press cited sources over weekend suggesting Trump favors giving diplomacy longer to work. However, consensus continues to revolve around a near-term resumption of kinetic hostilities.

    • Sentiment mixed as recovery in AI trade and oil pullback clashes with caution ahead of Apple earnings (post-close today), tomorrow's start of US midterm elections, host of global central bank meetings and US NFP (Friday). After last week's tech driven selloff, AI trade recovery helped by compute and capex demand narrative remaining intact despite the ramp in funding/FCF scrutiny.

    • Busy macro calendar in Europe this week. Eurozone final manufacturing PMI revised up from flash, while UK final manufacturing PMI in-line with flash estimate, strongest in over two years. German retail sales missed forecasts in September. Central bank policy also on the agenda, with BoE, Riksbank and Norges Bank decisions this week. Both BoE and Riksbank expected to hike. Meanwhile, UK Chancellor Healey reiterated plan to bring down welfare spending but backed away from a timetable. Polls show that the Budget was well received by the public despite criticism from business on lack of support and worries that most of the big decisions deferred until next year.

    • Elsewhere, France saw Fitch rating warning after it cut outlook to negative. Press also covered weekend protests in France, Germany and Switzerland. Meanwhile, press said BoE is exploring easing key limit on riskier mortgage lending as part of the government's deregulation push to support growth. UK press said British food standards will align with the EU for the first time since Brexit under plans for November summit. UK also consider £450M plan to lower fees for EU students.

    • On the corporate front, fuel-sensitive cyclicals (travel, retail) outperforming following airline earnings with Ryanair (RYA.ID) Q2 profit in-line despite 2% lower fares and 13% higher fuel costs and further €800M share buyback. Industrials in focus following big profit warning from Alstom (ALO.FP) (cuts FY2026-27 adjusted EBIT margin forecast and guiding for negative FCF). Energy big laggard amid retreat in crude prices on US-Iran diplomacy headlines. BP (BP.LN) was in spotlight after completing sale of 65% stake in Castrol to Stonepeak.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Travel & Leisure +3.03%, Construct & Mtls +2.10%, Real Estate +1.77%, Retail +1.73%, Basic Resources +1.72%, Autos & Parts +1.44%, Food & Beverage +1.22%, Ind Goods & Svcs +1.20%, Banks +0.96%, Persnl & HHold Goods +0.96%, Chemicals +0.86%, Financial Svcs +0.75%, Media +0.59%, Technology +0.49%,

      • Underperformers:

        • Oil & Gas (2.26%), Healthcare (0.63%), Telecom (0.56%), Utilities (0.26%), Insurance +0.34%

    • Macro:

      • BOE to Raise Rates for First Time Since 2023, Survey Shows (BBG)

      • Iran threatens US bases in Europe if Trump orders new strikes (Times)

      • As Europe's right advances, Germany's AfD rethinks its anti-euro roots (Reuters)

      • Philipp Nimmermann appointed to the Executive Board of the Bundesbank (link)

      • Spanish train crash puts Pedro Sánchez's re-election hopes in jeopardy (FT )

    • Company news:

      • Notable Gainers

        • +6.9% MED.SW (Medartis Holding CHF104.00, +6.70) -- US business update

        • +6.7% SBS.GR (Stratec €23.60, +1.50) -- Diatron MI sale

        • +6.6% FGP.LN (FirstGroup £2.30, +0.14) -- £109M sale of assets and ~£40M contract award

        • +4.5% ARJO.B.SS (Arjo SEK34.92, +1.52) -- Dagens Industri out with buy recommendation; DNB Carnegie upgrade

        • +4.0% AIXA.GR (Aixtron €34.07, +1.28) -- Kepler Cheuvreux upgrade

        • +3.8% ANORA.FH (Anora Group €4.35, +0.16) -- SEB upgrade

        • +2.9% CABK.SM (CaixaBank €11.43, +0.33) -- Morgan Stanley upgrade

        • +2.8% IMMNOV.SS (Immunovia SEK0.05, -0.00) -- Q3 earnings

        • +2.4% BAVA.DC (Bavarian Nordic A/S DKK250.80, +5.80) -- UK Gov. new multi-year contract award for MVA-BN

        • +2.3% VCP.LN (Victoria £0.41, +0.01) -- H1 trading update

        • +2.1% FRE.GR (Fresenius €48.76, +1.03) -- exclusive development agreement with WuXi Biologics

        • +1.6% VU.FP (VusionGroup €138.80, +2.10) -- initiated buy at Citi

        • +1.3% DNORD.DC (D/S Norden DKK377.20, +5.00)

        • +1.0% DEBS.LN (Debenhams Group £0.26, -0.00) -- RBC Capital Markets upgrade; Fraser Group lowers stake

      • Notable Decliners

        • -26.2% ALO.FP (Alstom €11.84, -4.15) -- H1 earnings

        • -13.4% ARBN.SW (Arbonia CHF3.60, -0.56) -- cuts FY guidance

        • -10.6% IBST.LN (Ibstock £0.71, -0.09) -- Q3 trading update

        • -6.9% CMBN.SW (Cembra Money Bank CHF82.70, -6.15) -- transferred sell at UBS; prior rating was neutral

        • -6.4% YIT.FH (Yit €3.62, -0.25) -- Inderes downgrade

        • -5.4% SVIK.SS (Studsvik SEK195.60, -11.20) -- CEO steps down

        • -4.9% NSKOG.NO (Norske Skog NOK34.70, -1.80) -- terminates Halden data centre cooperation

        • -4.8% BWE.NO (BW Energy NOK51.50, -2.60) -- Prospector 5 Rig incident update

        • -4.4% EQNR.NO (Equinor NOK424.10, -19.60) -- Arctic Securities downgrade

        • -4.4% BAKKA.NO (Bakkafrost NOK436.00, -19.80) -- Q3 earnings

        • -4.0% PEN.NO (Panoro Energy NOK30.95, -1.30) -- Prospector 5 Rig incident update

        • -3.4% AKRBP.NO (Aker BP NOK375.30, -13.40) -- Arctic Securities downgrade

        • -0.3% VOLV.B.SS (Volvo SEK307.90, -1.00) -- Citi downgrade

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: Raiffeisen Bank International (RBI.AV)

        • Benelux: Koninklijke Philips (PHIA.NA)

        • Denmark: Coloplast (COLO.B.DC), Solar (SOLAR.B.DC)

        • Finland: NoHo Partners (NOHO.FH)

        • France: Viridien (VIRI.FP)

        • Germany: Bayer (BAYN.GR), Fresenius Medical Care (FME.GR), Evonik Industries (EVK.GR), Deutsche Lufthansa (LHA.GR), Zalando (ZAL.GR), Hugo Boss (BOSS.GR), Lime (6LL.GR), TeamViewer (TMV.GR), Adtran Networks (ADV.GR), Washtec (WSU.GR), Norma Group (NOEJ.GR), OVB Holding (O4B.GR)

        • Norway: Salmar (SALM.NO), Odfjell Drilling (ODL.NO), Norconsult (NORCO.NO), Okea (OKEA.NO), Multiconsult (MULTI.NO), Icelandic Salmon (ISLAX.NO), Nordic Mining (NOM.NO)

        • Southern Europe: Melia Hotels International (MEL.SM), NOS (NOS.PL), CTT - Correios de Portugal (CTT.PL)

        • Sweden: Verisure (VSURE.SS), NCC (NCC.B.SS), Hacksaw (HACK.SS), NOBA Bank Group (NOBA.SS), International Petroleum Corp (IPCO.SS), Latour Investment (LATO.B.SS), Boozt Fashion (BOOZT.SS), Truecaller (TRUE.B.SS), RaySearch Laboratories (RAY.B.SS), ITAB Group (ITAB.SS), Rejlers (REJL.B.SS), Absolent Air Care Group (ABSO.SS), SynAct Pharma (SYNACT.SS), Devyser Diagnostics (DVYSR.SS), Embellence Group (EMBELL.SS), Duroc (DURC.B.SS), NYORDA AB (NYOR.SS), 4C Group (4C.SS)

        • Switzerland: Geberit (GEBN.SW), Clariant (CLN.SW), Burckhardt Compression Holding (BCHN.SW), Bajaj Mobility (BMAG.SW)

        • UK: Associated British Foods (ABF.LN), dotDigital Group (DOTD.LN)

      • Trading Update:

        • Benelux: Coca-Cola Europacific Partners (CCEP.NA)

        • DACHs: Greencoat Renewables (GRP.GR)

        • France: bioMerieux (BIM.FP), Rubis (RUI.FP), HERIGE (ALHRG.FP), Bilendi (ALBLD.FP)

        • Nordics: Demant (DEMANT.DC), Remedy Entertainment (REMEDY.FH)

        • UK: Hiscox (HSX.LN), TP ICAP Group (TCAP.LN), International Workplace Group (IWG.LN)

      • CMD/Events: Stora Enso's (STERV.FH) Swedish forest assets (Bergslagets Skogar), Wärtsilä (WRT1V.FH), Sanoma (SANOMA.FH)

  • Data:

    • Economics:

      • Oct manufacturing PMI

        • Sweden 60.5 vs consensus 57.4, prior revised 58.5 from 58.1

        • Spain 52.2 vs consensus 50.8, prior 51.0

        • Switzerland 56.7 vs consensus 55.3, prior 55.3

        • Italy 49.4 vs consensus 50.2, prior 50.4

        • France 49.5 vs preliminary 49.3

        • Germany 54.2 vs preliminary 54.2

        • Eurozone 52.7 vs preliminary 52.4

        • UK 52.8 vs preliminary 52.8

        • Ireland 55.2 vs consensus 55.0, prior 55.5

        • Netherlands 55.0 vs consensus 54.9, prior 55.6

        • Greece 53.3 vs consensus 53.4, prior 54.0

      • Germany Sep retail sales (2.3%) y/y vs consensus (0.3%), prior revised (0.3%) from (0.4%)

      • Switzerland Sep retail sales +1.6% y/y vs consensus +3.0%, prior revised +3.9% from +3.2%

      • Netherlands Sep retail sales +2.7% y/y vs consensus +2.8%, prior revised +3.8% from +3.5%

      • Austria Oct unemployment rate 7.3% vs consensus 7.7%, prior 7.1%

    • Markets:

      • WTI Crude (Dec 26): ($7.13) or (6.85%) to $96.99

      • €-$ +0.0042 or +0.38% to 1.1202

      • £-$ +0.0028 or +0.21% to 1.3417

      • €-£ +0.0014 to 0.8349

      • S&P 500 +0.57%

      • Performance year-to-date

        • FTSE 100: +8.36%

        • DAX: +6.09%

        • CAC: (1.25%)

        • MIB: +11.13%

        • Stoxx 600: +9.67%

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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