[WEEKLY] European market recap: July 28 – August 2, 2025

Quick summary of what went down across European markets last week. Spoiler: not great.

📉 Indexes:

Euro Stoxx 50: –3.4%

Stoxx 600: –1.3%

DAX (Germany): –1.7%

Biggest weekly drop in months. Started strong, ended ugly.

💥 Key reasons:

New US tariffs on 30+ countries (Switzerland caught a 39% one 💀). → Europe wasn't directly hit but investor confidence got smoked.

Pharma selloff after Biden’s team listed companies like Sanofi and Novo Nordisk for price negotiations. → Novo –4.9%, Sanofi –2%.

Euro keeps rising — now up ~13% YTD. → Great for vacations, terrible for exporters.

📈 Winners (yes, there were some):

Campari +6.7% (solid Q2, alcohol never disappoints)

Melrose Industries +6.4% (UK industrial rebound)

Utilities & insurance — flat or slightly up. Boring = safe.

🔍 Sectors that got slapped:

Pharma

Tech

Export-heavy industrials

Anything relying on USD markets

📌 Takeaways:

If it sells overseas, it’s bleeding.

If it makes insulin, it’s bleeding harder.

If it sells booze, it’s probably fine.

Strong euro = bad news for most earnings calls this quarter.

Would love to hear how others are adjusting portfolios — staying EU, going global, or just DCA-ing through the noise?