Recurring series

Daily Europe

Finvaulta tracks 19 editions of Daily Europe from UBS, published between May 26, 2026 and September 2, 2026. Each edition is summarized on its own page.

Latest edition · September 2, 2026

Daily Europe en 1665870

Despite market anxiety over rising energy costs and elevated bond yields, UBS keeps an Attractive view on Eurozone equities. The uptick in headline inflation is concentrated in energy rather than core sectors, while manufacturing momentum and robust earnings forecasts support a cyclical upturn.

Eurozone equities experienced pressure in early September as higher energy prices pushed August headline inflation to 3.3% and triggered rising sovereign yields across Germany and France. However, UBS argues that this does not portend an extended ECB tightening cycle, as core and services inflation continue to moderate. Meanwhile, the Eurozone manufacturing PMI improved to 52.7 and Q2 earnings beat expectations. UBS forecasts ~15% EPS growth for 2026 and 2027, maintaining an Attractive rating on Eurozone equities with preferences for cyclicals and quality short-to-medium term debt.

Read the latest edition in full

Key takeaways from the latest edition

1.Recent Eurozone inflation acceleration to 3.3% in August was driven predominantly by energy, while core and services inflation eased, arguing against an extended ECB tightening cycle beyond a 25 bps hike in September.
2.The Eurozone industrial recovery is strengthening, with manufacturing PMI rising to 52.7 in August and output index hitting 53.3, showing industry is handling energy shocks effectively.
3.UBS maintains an Attractive stance on Eurozone equities, supported by ~15% EPS growth expectations for 2026/2027, modest 14.2x forward P/E valuations, and key structural themes like AI, electrification, and defense.

What this series covers

Thought of the day
Caught our attention
Market update
Global asset class preferences definitions
Appendix

Series at a glance

Editions tracked: 19
First edition: May 26, 2026
Latest edition: September 2, 2026

All UBS research

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