De40: European equity markets in mixed mood, DAX down 0.30%

The European equity market is not showing much volatility today. Moves are limited to ±0.30% for most markets, except for Poland’s WIG20, which is down 0.70%. The DAX is trading lower by about 0.30% at 23,730 points. The euro is slipping slightly (0.20–0.30%) after political turmoil in France.

French Prime Minister François Bayrou — an experienced centrist and MoDem leader appointed in December 2024 — was ousted on September 8, 2025. The former prime minister lost a confidence vote in the National Assembly (364–194) over his proposed austerity budget plan, deepening the country’s political paralysis. President Emmanuel Macron announced he will appoint a new prime minister in the coming days, while Bayrou will effectively move into a caretaker role until a successor is chosen. Despite fiscal challenges, the French CAC40 index is up 0.35% today, with French banks posting the strongest year-to-date performance within the index.

DAX (D1 interval)

The German index is attempting to defend support above 23,200 points. Despite today’s modest sell-off of about 0.30%, technically the bulls remain in control. The key to sustaining the uptrend will be holding above this support level.

Company news

Anglo American announced a record merger plan worth $50–53bn with Canada’s Teck Resources to form “Anglo Teck Plc.” Teck shares traded in Frankfurt are up nearly 11% today. The deal concentrates copper exposure (synergies in Chile) with targeted ~$800m in annual cost savings.

Spanish banks (BBVA/Sabadell): after regulatory approval at the end of last week, BBVA’s hostile €14.8–14.9bn bid for Sabadell is now formally active, keeping Iberian banks in focus and sustaining merger-arbitrage activity.

DEUTZ raised just over €131m via an accelerated capital increase. Proceeds will finance the acquisition of Sobek, a drone propulsion company, deepening diversification into defense beyond the cyclical engines segment.

ASML will invest €1.3bn in Mistral AI for an 11% stake and a seat on its strategic committee. The partners will implement AI models across ASML’s product portfolio, R&D, and operations.

Novartis announced its intention to acquire Tourmaline Bio for about $1.4bn ($48/share), with completion expected in Q4.