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Indices and Companies
The broad European market is trading without a clear direction today—strong gains in select industrial and IT giants are offset by minor pullbacks across the rest of the market.
Stoxx 50 futures (EU50) are trading flat. Germany’s DAX is performing best (DE40: +0.3%), supported by gains in SAP shares, while Switzerland’s SMI is lagging (SUI20: -0.6%), sensitive to profit-taking in the pharmaceutical sector.
European IT stocks are gaining significantly on Friday (SAP: +4.3%, Nemetschek: +8.8%, TeamViewer: +6.0%), driven by Reuters reports of Silver Lake’s acquisition talks with Workday and easing investor concerns regarding tech-sector debt refinancing.
Workday shares jumped nearly 18% (the strongest intraday gain since 2012) following reports of a potential buyout. The news also lifted other peers in the sector, including Salesforce, HubSpot, and Wix.com.
Source: XTB Research
Economy and Geopolitics
According to Eurostat’s flash estimate, seasonally adjusted GDP grew by 0.4% QoQ in the euro area (+1.0% YoY) and by 0.5% QoQ across the EU (+1.2% YoY) in Q2, picking up momentum after a weak Q1. Employment across both regions expanded by a modest 0.1% QoQ (+0.5% YoY).
French CPI inflation rose to 2.1% YoY in July 2026 (up from 1.8% in June), rebounding by 0.6% MoM. Price growth was driven by services (transportation, accommodation) and energy (+2.3% MoM), while gains were tempered by summer sales on manufactured goods (-2.0% MoM).
German wholesale prices rose by 5.3% YoY (+0.2% MoM) in July 2026. The primary drivers were geopolitical tensions surrounding Iran and the expiration of temporary fuel tax cuts (petroleum products: +24.1% YoY). Non-ferrous metals also surged (+27.8% YoY), whereas price declines were recorded in live animals (-18.5%) and dairy.
Data from Kpler indicates that 13 confirmed crossings were recorded through the Strait of Hormuz on August 13 (+44% DoD), with 9 vessels utilizing routes mapped out by Iran. Increased traffic was also noted in the Bab al-Mandab Strait (29 crossings) and the Red Sea (18 ships entered, 11 exited).
Currencies, Commodities, and Energy
The US Dollar Index (USDIDX) is slipping 0.3% today following yesterday’s attempted breakout to a 2-week high. The New Zealand Dollar is rebounding most strongly (NZDUSD: +0.8%), recovering from yesterday’s sell-off triggered by a drop in inflation expectations. EURUSD adds 0.35%, rising to 1.1570.
Precious metals are rebounding slightly following yesterday’s correction. Gold gains 0.3% to $4,362 per ounce, while silver adds 0.8% to reach $64.95 per ounce.
Brent crude futures (OIL) have erased early-session gains and are trading flat near $87 per barrel. Meanwhile, gains persist in natural gas futures (NATGAS: +0.2%, NATGAS.EU: +0.5%).
XTB.COM
