BNP Paribas SA

European stock markets rose on Friday, driven by stronger-than-expected UK GDP growth of 0.6% in Q1 2024, surpassing the 0.4% forecast. Germany’s DAX increased by 0.4%, France’s CAC 40 by 0.5%, and the UK’s FTSE 100 by 0.4%. The Bank of England's recent interest rate decision, amid speculation of future cuts, and positive corporate earnings from IAG and Mediobanca further boosted investor confidence. IAG reported a significant profit increase, while Mediobanca announced a 42% rise in net profit and plans for a dividend distribution.

- European stock markets rose on Friday, buoyed by stronger-than-expected UK economic growth data and optimism regarding potential US Federal Reserve rate cuts.  
- The German DAX index increased by 0.4%, the French CAC 40 gained 0.5%, and the UK FTSE 100 also rose by 0.4%.  
- The UK economy grew by 0.6% in Q1 2024, surpassing expectations and improving investor confidence, while corporate performance, notably IAG and Mediobanca, contributed positively to market sentiment.

Invezz

Global X DAX Germany ETF

IAMGold

Germany’s DAX, France’s CAC, UK’s FTSE 100 gain on strong UK GDP data

European stock markets closed lower on Friday, with the Stoxx Europe down 0.12%. Inflation in Germany rose by 2.2% in 2025, while Italy saw a 1.2% annual increase in December. Novo Nordisk's Wegovy received UK approval for obesity treatment, boosting its shares by over 6%. HSBC is reviewing its Singapore insurance business. Defense stocks rose due to geopolitical tensions, while luxury and automotive stocks fell, with Kering and Renault dropping significantly. Overall, the market reflects mixed sentiments amid inflation concerns and corporate developments.

fidelity

Novo Nordisk AS

European Stocks Close Out Week Lower in Friday Trading; Annual Inflation Rises in Italy

The German DAX 30 index initially closed down 0.34% at 25,267.27 points, roughly flat for the week. The French stock index initially closed down 0.84%, the Italian stock index initially closed down 0.31%, the Italian banking index fell 0.63%, with a cumulative increase of about 1% for the week. The British stock index initially closed down 0.16%, with a cumulative increase of 0.9% for the week

Wallstreetcn

BOND

Euro area benchmark Bund yields are expected to end the week flat, influenced by mixed movements in U.S. Treasuries amid conflicting U.S. economic signals. Germany’s 10-year yields rose slightly, while the U.S. 10-year Treasury note also saw a modest increase. Investors are shifting focus to fiscal policy, anticipating that the European Central Bank will maintain rates through 2026, with potential fiscal expansion supporting euro zone growth. Italian bond yields rose, reflecting strong demand due to fiscal discipline, while sovereign bond markets remain focused on economic fundamentals despite geopolitical risks.

Reuters

Pmco Active Bd

State Street Corp.

Bund yields set to end week flat after taking cues from US Treasuries

The European Investment Bank (EIB) and Piraeus Bank have signed an agreement to fund up to 100 million euros for small- and medium-sized defence companies in Greece. This initiative is part of EIB's broader plan to invest at least 3 billion euros in the EU's defence industry. Piraeus Bank's CEO stated that this funding could enable the bank to provide 200 million euros to support Greek companies in cybersecurity and defence. Greece aims to spend over 28 billion euros on arms procurements by 2035, with a significant portion allocated to domestic firms.

Piraeus Bank, EIB agree 100 million euros of funding for Greek defence industry

The Bank of Greece reported a central government cash surplus of €973 million for 2025, down from €1,031 million in 2024. Ordinary budget revenue increased to €73,938 million from €69,434 million, while expenditure rose to €65,875 million compared to €63,428 million in the previous year. This information is based on a report published on January 16, 2026, by the Bank of Greece.

- Greece's central government reported a cash surplus of €973 million from January to December 2025, down from €1.031 billion in the same period of 2024.  
- During this time, ordinary budget revenues rose to €73.938 billion, compared to €69.434 billion the previous year.  
- Ordinary budget expenditures reached €65.875 billion, an increase from €63.428 billion in 2024.

Bank of Greece Reports €973 Million Central Government Cash Surplus for 2025

Next week's memo includes the release of economic data from multiple countries: January 19th is a holiday in the United States, Australia’s TD-MI inflation index, Japan's core machinery orders, industrial output data, the UK Rightmove house asking price index, China's GDP and total retail sales of consumer goods, Eurozone HICP data, and Canada's CPI

AASTOCKS

Next Week's Memo

The Italian National Institute of Statistics announced that the Consumer Price Index (CPI) in December 2022 rose by 1.2% year-on-year and 0.2% month-on-month, both in line with expectations. The Harmonized Index of Consumer Prices (HICP) also rose by 1.2% year-on-year and 0.2% month-on-month. For the entire year of 2022, the CPI rose by 1.5% year-on-year, and it is expected to rise by 1% in 2024. Core inflation (excluding energy and unprocessed food) rose by 1.9%, with a projected increase of 2% in 2024. The harmonized HICP rose by 1.7% year-on-year, with an expected rise of 1.1% in 2024

The December CPI in Italy confirmed an annual increase of 1.2%, in line with expectations

RTPPF

European stocks opened slightly lower, with gold prices retreating affecting mining stocks. The UK stock market fell after hitting a peak, while defense stocks rose. The pan-European STOXX 600 index fell by 0.1% to 613.75 points; the UK FTSE 100 index dropped by 0.2% to 10,218 points; the French CAC 40 index decreased by 0.2% to 8,296 points; the German DAX index fell by 0.1% to 25,317 points. Mining stocks Rio Tinto, BHP, and Antofagasta dropped between 2% and 2.3%. Defense stocks BAE Systems and Thales each rose by over 2%. In U.S. stock futures, the Dow futures rose by 64 points, and the S&P 500 futures increased by 18 points. In the Asia-Pacific stock market, the Shanghai and Hong Kong stocks each fell by 0.3%, while Shenzhen stocks dropped by 0.2%

Rio Tinto

Rio Tinto Group

"European Stocks" European stocks are slightly weak in the early stage, mining stocks decline, and military stocks rise

European Central Bank Lane: There has been no recent debate about interest rates

SNYNF

European stock markets closed mostly higher, with the Stoxx Europe up 0.5%. Germany's GDP grew 0.2% in 2025, while the UK's GDP rose 0.3% in November. France's CPI increased by 0.1%, and Spain's CPI rose 0.3%. Industrial production in the euro area rose 0.7%. In corporate news, Sanofi faced FDA concerns, HSBC is gauging investor interest in a €2 billion loan portfolio, and TotalEnergies' LNG project in Mozambique is set to restart. Ericsson proposed 1,600 job cuts in Sweden.

Sanofi

TotalEnergies SE

European Stocks Close Mostly Higher in Thursday Trading; GDP Expands in Germany, UK

The German DAX 30 index initially rose by 0.35%, closing at 25,374.37 points. The French stock index initially fell by 0.21%, the Italian stock index initially rose by 0.46%, with the banking index up by 1.06%, and the British stock index initially rose by 0.61%

HBO Max is expanding its presence in Europe, launching in eight new countries, including Germany and Italy, despite the ongoing sale of parent company Warner Bros. Discovery. CEO JB Perrette emphasized the service's strong content slate, claiming it to be the best in HBO's history. The rollout includes popular shows and upcoming originals, with a focus on local programming. The company aims to differentiate itself from competitors by offering a more defined content proposition. HBO Max has reported 128 million global streaming subscribers and plans to complete its European rollout by March 2025.

Variety

Warner Bros. Discovery

HBO Max Bosses Tout ‘Strongest Slate in History’ as Streamer Rolls Out in Italy Amid Warner Bros. Discovery Sale

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The Athens Stock Exchange Composite Index in Greece rose by 1.28%, closing at 2247.69 points, close to 2315.31 points on January 11, 2010, and 2433.24 points on December 2, 2009. Since October 2022, the Greek stock market has continued to perform strongly, with a cumulative increase of nearly 183.48%

Conglomerates Index

Data from the Italian National Institute of Statistics shows that the trade surplus expanded to EUR 5.08 billion in November last year, higher than EUR 3.39 billion a year earlier, but slightly lower than the market expectation of EUR 5 billion. Exports decreased by 0.1% year-on-year, while imports fell by 3.5%

BNP Paribas SA(EESM.DE)

Germany’s DAX, France’s CAC, UK’s FTSE 100 gain on strong UK GDP data

European Stocks Close Out Week Lower in Friday Trading; Annual Inflation Rises in Italy

Bund yields set to end week flat after taking cues from US Treasuries

Piraeus Bank, EIB agree 100 million euros of funding for Greek defence industry