European equities began the week on the back foot Monday, with Euronext’s major benchmarks edging lower as investors braced for a backlog of U.S. economic releases and the week’s headline corporate result from Nvidia. Financials and luxury houses were among the early drags, while aerospace outperformed. 1
Market at a glance (Mon, 17 Nov 2025)
- France (CAC 40): Paris traded slightly lower, hovering around the 8,150 area in early trade as luxury shares lagged. 2
- Region-wide tone: The STOXX 600 slipped about 0.2% in early dealings, with investors cautious ahead of delayed U.S. data and big‑tech earnings. 1
Data points reflect conditions during the European morning/late morning on 17 Nov 2025 and may be delayed. 1
What moved Euronext this morning
- Luxury and banks under pressure: The sector mix was negative for Paris, with LVMH among notable decliners as investors rotated away from discretionary names. Financials also eased across the region. 1
- Aerospace firmer:Airbus advanced after reports of a potential major flydubai order, helping cushion declines on the CAC 40. 1
- Defence bid lifted sentiment at the margin: The broader European defence complex caught a tailwind after Saab rose on a fighter‑jet deal with Colombia, though Saab is not Euronext‑listed. 1
- Macro overhangs: Globally, traders are focused on Nvidia’s midweek results and on a slate of U.S. indicators set to clear a recent data backlog—both key for near‑term risk appetite. 3
Corporate: Euronext launches tender for 2026 bonds and lines up new issue
Euronext N.V. this morning opened an any‑and‑all cash tender for its €600 million 0.125% Bonds due 17 May 2026 (ISIN DK0030485271) at 99.05% of principal plus accrued interest, in tandem with plans to issue new euro‑denominated fixed‑rate bonds (subject to market conditions). The tender runs until 17:00 CET on 24 November, with results expected 25 November; purchased notes will be cancelled. Pricing of the new bonds is expected on or about 18 November. Euronext framed the move as proactive maturity‑profile management. 4
This follows last week’s results, where Euronext posted a sixth consecutive quarter of growth and announced a €250 million share buyback slated to commence 18 November and run until 31 March at the latest. 5
Deal watch: Athens Stock Exchange (ATHEX) offer enters its final day
Euronext’s voluntary share‑exchange offer for HELLENIC EXCHANGES–ATHEX closes today, 17 November 2025 at 14:00 EET. Results are due 19 November. Earlier this month the acceptance threshold was reduced to 50% + 1 share (from 67%) to facilitate completion. The move is part of Euronext’s broader strategy to deepen its pan‑European footprint. 6
Cross‑currents to watch this week
- U.S. data and the dollar: The greenback was slightly firmer as traders positioned for the release of multiple delayed U.S. indicators; any surprise could ripple through European equities and FX. 7
- Nvidia earnings: With AI bellwethers setting the tone for global risk assets, Wednesday’s print is a potential volatility node for tech‑heavy segments and for sentiment across Euronext bourses. 3
Bottom line
With macro catalysts clustered later in the week, Monday’s Euronext session opened to a soft, defensive tone: luxury and financials weighed on Paris, while aerospace and defence offered selective support. Strategically, Euronext itself was in focus thanks to its 2026 bond tender/new issue and the ATHEX tender’s hard deadline this afternoon—two milestones in the operator’s ongoing balance‑sheet and consolidation agendas. 1
Data & sources
- European equity session color and sector moves: Reuters real‑time market reports on Nov. 17, 2025. 1
- CAC 40 intraday context: MarketScreener Paris mid‑morning wrap, Nov. 17, 2025. 2
- Euronext tender offer for 2026 bonds: official announcement, Nov. 17, 2025. 4
- Euronext Q3 update and buyback timing: Reuters, Nov. 6, 2025. 5
- ATHEX offer timetable and threshold: Euronext investor relations (timing) and Reuters (threshold change). 6
