Sep 29, 2026 · 5 min
European stocks split over demand, taxes and regulation
Lindt Dips, ADP Down, Julius Baer Up
The episode shows how consumer weakness, fiscal policy and regulatory decisions are reshaping the outlook for major European companies.
- 1Lindt cut sales-growth guidance as weak confidence, subdued demand and lower pricing pressured chocolate prospects.
- 2French infrastructure stocks including ADP, Vinci and Eiffage fell amid potential tax increases in the 2027 budget.
- 3Julius Baer rallied after regulators ended an enforcement procedure, potentially clearing the way for renewed buybacks.
Don't miss
Julius Baer becomes a leading Stoxx 600 performer after regulators end an enforcement procedure, potentially allowing share buybacks to resume.
The brief
Lindt cut its sales-growth guidance as weak consumer confidence and subdued chocolate demand weighed on the premium confectionery maker.
Lizzie Burden and Stephen Carroll speak with Bloomberg reporter Joshua Gaunt-Warner about the European companies moving markets and the forces behind their shares.
French infrastructure stocks including ADP, Vinci and Eiffage declined as investors assessed the possibility of a sector tax increase in France’s 2027 budget.
Julius Baer emerged as a leading Stoxx 600 performer after regulators ended an enforcement procedure, reducing an overhang on the Swiss wealth manager.
The contrasting moves show how demand weakness, fiscal threats and regulatory relief can produce sharply different outcomes across European equities.
What was said on this episode
2 statements · 2 negative
The proposed French infrastructure-sector tax increase would reduce operators’ earnings if enacted.
“this is going to be hitting earnings if it goes through”
Listen at 2:49
The proposed tax increase is causing French infrastructure-sector valuations to decline.
“that's seeing some of the sector's valuation shed away this morning”
Listen at 3:00
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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