German inflation slows to 2.8% in October
German inflation fell to 2.8% in October from 3.3% in September, below expectations, with core inflation easing to 2.1% due to temporary fuel tax cuts.
Funds in our coverage with Schneider Electric Se among their ten largest positions, with about £5.1B of those funds’ assets in it. FE fundinfo data, to 31 Oct 2026.
| 5Y | Volatility | Quartile | ||||||
|---|---|---|---|---|---|---|---|---|
| BNP PARIBAS EASY CAC 40® ESG UCITS ETFBNP PARIBAS ASSET MANAGEMENT | Passive | 11.24% | +10.8% | Pro | Pro | 0.25% | £186.2M | Free account |
| ESG Eurozone Biodiversity Leaders PABBNP PARIBAS ASSET MANAGEMENT | Passive | 10.93% | +5.5% | Pro | Pro | 0.36% | £4.9M | Free account |
| First Trust NASDAQ® Clean Edge® Smart Infrastructure Index FundFirst Trust | Passive | 8.29% | +20.1% | Pro | Pro | n/a | n/a | Free account |
| First Trust Nasdaq Clean Edge Smart Grid Infrastructure UCITS ETFFirst Trust | Passive | 7.73% | +39.2% | Pro | Pro | 0.63% | £1.7B | Free account |
| M&G European Sustain Paris Aligned FundM&G Investments | Active | 5.60% | +3.8% | Pro | Pro | 0.93% | £1.5B | Free account |
| UBS MSCI EMU Socially Responsible UCITS ETFUBS | Passive | 5.49% | +6.9% | Pro | Pro | 0.20% | £1.1B | Free account |
| TOCQUEVILLE EURO EQUITY GROWTH SRILBP AM | Active | 5.44% | −1.2% | Pro | Pro | 0.70% | £1.3B | Free account |
| HSBC NASDAQ Global Climate Tech UCITS ETFHSBC | Passive | 5.38% | +18.9% | Pro | Pro | 0.50% | £122.4M | Free account |
| UBS MSCI Europe Socially Responsible UCITS ETFUBS | Passive | 5.30% | +11.2% | Pro | Pro | 0.21% | £54.1M | Free account |
| Amundi MSCI Europe SRI Climate Paris AlignedAmundi | Passive | 5.28% | +4.1% | Pro | Pro | 0.35% | £1.4B | Free account |
| Comgest Growth EuropeComgest | Active | 5.04% | −7.0% | Pro | Pro | 1.14% | £1.5B | Free account |
| Guinness Sustainable Energy FundGuinness AM | Active | 5.00% | +8.1% | Pro | Pro | 1.74% | £249.5M | Free account |
| Amundi MSCI EMU ESG SelectionAmundi | Passive | 4.90% | +15.1% | Pro | Pro | 0.20% | £2.1B | Free account |
| Euroland EquityAmundi | Active | 4.84% | +9.8% | Pro | Pro | 2.68% | £3.8B | Free account |
| Fidelity European TrustFidelity | Active | 4.83% | −0.9% | Pro | Pro | 0.68% | £2.1B | Free account |
| Goldman Sachs Eurozone Equity IncomeGoldman Sachs Asset Management | Active | 4.82% | +8.7% | Pro | Pro | 1.80% | £1.6B | Free account |
| Allianz Europe Equity GrowthAllianz Global Investors | Active | 4.69% | +2.6% | Pro | Pro | 0.96% | £1.3B | Free account |
| UBS MSCI EMU SelectionUBS | Passive | 4.67% | +12.8% | Pro | Pro | 0.13% | £1.5B | Free account |
| UBS EURO STOXX 50 ESG UCITS ETFUBS | Passive | 4.65% | +5.8% | Pro | Pro | 0.10% | £3.6B | Free account |
| Amundi S&P Eurozone Climate Paris AlignedAmundi | Passive | 4.59% | +6.3% | Pro | Pro | 0.14% | £2.5B | Free account |
| Fidelity European FundFidelity | Active | 4.41% | +3.5% | Pro | Pro | 0.91% | £3.9B | Free account |
| DNCA Invest - SRI Euro QualityNatixis Investment Managers | Active | 4.28% | −6.4% | Pro | Pro | 0.80% | £1.8B | Free account |
| FL Newton Continental European APFL | Not classified | 4.05% | n/a | Pro | Pro | n/a | £76K | Free account |
| TOCQUEVILLE EURO EQUITY SRILBP AM | Active | 3.97% | +3.7% | Pro | Pro | 1.50% | £1.9B | Free account |
| BNP PARIBAS EASY EURO STOXX 50 UCITS ETFBNP PARIBAS ASSET MANAGEMENT | Passive | 3.84% | +5.2% | Pro | Pro | 0.10% | £1.5B | Free account |
| Amundi Core EURO STOXX 50Amundi | Passive | 3.78% | +7.0% | Pro | Pro | 0.09% | £4.3B | Free account |
| State Street SPDR EURO STOXX 50 ETFSPDR ETFs | Passive | 3.71% | +5.1% | Pro | Pro | 0.29% | £3.2B | Free account |
| UBS MSCI EMU Climate Paris Aligned UCITS ETFUBS | Passive | 3.70% | +9.6% | Pro | Pro | 0.14% | £4.1M | Free account |
| Storebrand Smart CitiesStorebrand | Not classified | 3.70% | n/a | Pro | Pro | n/a | £18.1M | Free account |
| HSBC Euro Stoxx 50 UCITS ETFHSBC | Passive | 3.68% | +5.4% | Pro | Pro | 0.05% | £2.1B | Free account |
| iShares MSCI EMU CTB Enhanced ESG UCITS ETFBlackRock | Passive | 3.65% | +5.5% | Pro | Pro | 0.12% | £2.6B | Free account |
| Eleva Euroland Selection FundEleva Capital | Active | 3.62% | +5.1% | Pro | Pro | 1.59% | £1.9B | Free account |
| iShares MSCI EMU Paris-Aligned Climate UCITS ETFBlackRock | Passive | 3.59% | +10.9% | Pro | Pro | 0.15% | £1.9B | Free account |
| Jupiter European FundJupiter Asset Management | Active | 3.41% | +12.7% | Pro | Pro | 1.74% | £2.7B | Free account |
| Goldman Sachs Europe Sustainable EquityGoldman Sachs Asset Management | Active | 3.39% | +3.1% | Pro | Pro | 1.05% | £263.4M | Free account |
| European Value FundMFS | Active | 3.24% | +8.4% | Pro | Pro | 2.05% | £1.3B | Free account |
| AMUNDI ACTIONS EUROPE ENVIRONNEMENTAmundi | Active | 3.16% | +4.4% | Pro | Pro | 0.90% | £1.5B | Free account |
| Europe Equity Green TechnologyAmundi | Active | 3.16% | +3.5% | Pro | Pro | 0.96% | £94.6M | Free account |
| Amundi MSCI EMU ESG Broad TransitionAmundi | Passive | 3.08% | +7.8% | Pro | Pro | 0.15% | £1.2B | Free account |
| BlackRock Continental European Income FundBlackRock | Active | 2.94% | +1.0% | Pro | Pro | 0.91% | £1.7B | Free account |
| Global Environmental OpportunitiesPictet | Active | 2.90% | +2.5% | Pro | Pro | 1.99% | £4.1B | Free account |
| Europe Select Equity FundJ.P. Morgan Asset Management | Active | 2.90% | +15.8% | Pro | Pro | 0.67% | £1.2B | Free account |
| Av JOHCM Continental European EPAviva | Not classified | 2.83% | n/a | Pro | Pro | n/a | £115K | Free account |
| Amundi MSCI Europe ESG SelectionAmundi | Passive | 2.81% | +14.0% | Pro | Pro | 0.20% | £963.6M | Free account |
| Candriam Equities L Robotics & Innovative TechnologyCandriam | Active | 2.76% | +26.2% | Pro | Pro | 1.94% | £2.6B | Free account |
| Europe Research Enhanced Index Equity Active UCITS ETFJ.P. Morgan Asset Management | Active | 2.72% | +8.6% | Pro | Pro | 0.25% | £2.5B | Free account |
| ACATIS Value Event FondsAcatis | Active | 2.72% | −3.3% | Pro | Pro | 1.40% | £3.9B | Free account |
| DWS Smart Industrial TechnologiesDWS | Active | 2.70% | +31.0% | Pro | Pro | 0.55% | £1.8B | Free account |
| LAZARD HUMAN CAPITALLazard Asset Management | Active | 2.70% | +13.2% | Pro | Pro | 1.14% | £65.6M | Free account |
| Global Climate Change EquitySchroders | Active | 2.65% | −3.7% | Pro | Pro | 1.06% | £1.7B | Free account |
Weight is the share of each fund in this company. Returns are GBP, to month end. FE quartile compares a fund with its FE sector over the same year. Fund size is in GBP. Source: FE fundinfo. Past performance is not a reliable guide to future returns.
German inflation fell to 2.8% in October from 3.3% in September, below expectations, with core inflation easing to 2.1% due to temporary fuel tax cuts.
The European Central Bank held rates steady as eurozone inflation climbed to 3.8%, with ECB President Christine Lagarde announcing her departure in February 2027.
Cost-of-living protests in France deteriorated into widespread riots and looting across major cities, contributing to a selloff in French equities and bonds with CAC 40 declining 2.19%.
French 10-year bond yields reached fresh 24-year highs of 5.07% due to social unrest and riots related to high cost of living and underfunded social programs, reflecting fiscal strains in Europe.
Moody's maintained France's sovereign credit rating at Aa3 with negative outlook despite political turmoil, protests and fiscal challenges, avoiding a downgrade that markets had anticipated.
Euro area consumer confidence declined in October to -17.9 points, reaching its lowest level in five months, reflecting rising inflation concerns and geopolitical uncertainty.
French bond spread reached 153bps, its widest since early October, reflecting ongoing fiscal and political pressures on sovereign debt. The euro weakened as the spread widened.
The Magyar Nemzeti Bank's Monetary Council held the base rate unchanged at 5.50 percent, maintaining deposit and lending rates as well, citing need to achieve inflation target sustainably.
About 550,000 people participated in 110 marches nationwide. French equities, bonds, and the euro weakened across the board with the 10-year French yield surging 13 basis points to 4.9%.
The IMF and World Bank held annual meetings in Bangkok with the World Economic Outlook and Global Financial Stability Report released. Key central bank governors participated in G20 finance ministers meetings.
Eurozone September inflation rate confirmed at 3.8% year-over-year with core inflation at 2.5%, indicating persistent inflation pressures amid geopolitical tensions.
European Council convenes in Brussels through October 16 to address critical vulnerabilities amid heightened geopolitical instability, Ukraine concerns, and energy security issues.
Counts events recorded in our market events log, not news volume. Information only, not advice.
Source: FE fundinfo. Holdings are each fund’s ten largest positions as reported, so a fund can have more of this company than shown or none at all. Returns are GBP to month end unless stated. Past performance is not a reliable guide to future returns. Capital is at risk. Information only, not advice or a recommendation.
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