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 ASML Holding NV among their ten largest positions, with about £12.4B of those funds’ assets in it. FE fundinfo data, to 31 Oct 2026.
| 5Y | Volatility | Quartile | ||||||
|---|---|---|---|---|---|---|---|---|
| State Street SPDR EURO STOXX 50 ETFSPDR ETFs | Passive | 10.36% | +5.1% | Pro | Pro | 0.29% | £3.2B | Free account |
| DNCA Invest - SRI Euro QualityNatixis Investment Managers | Active | 9.92% | −6.4% | Pro | Pro | 0.80% | £1.8B | Free account |
| Allianz Europe Equity GrowthAllianz Global Investors | Active | 9.36% | +2.6% | Pro | Pro | 0.96% | £1.3B | Free account |
| Euro-Markets FundBlackRock | Active | 9.16% | +9.6% | Pro | Pro | 1.82% | £1.1B | Free account |
| Eleva Euroland Selection FundEleva Capital | Active | 9.06% | +5.1% | Pro | Pro | 1.59% | £1.9B | Free account |
| CM-AM EUROPE GROWTHCrédit Mutuel Asset Management | Not classified | 8.72% | +2.2% | Pro | Pro | 1.53% | £539.5M | Free account |
| CM-AM CONVICTIONS EUROCrédit Mutuel Asset Management | Not classified | 8.65% | +1.8% | Pro | Pro | 1.92% | £2.6B | Free account |
| Continental European Flexible FundBlackRock | Active | 8.56% | +0.4% | Pro | Pro | 1.81% | £4.9B | Free account |
| BlackRock European Dynamic FundBlackRock | Active | 8.54% | +0.1% | Pro | Pro | 1.66% | £5.0B | Free account |
| Vanguard Eurozone Stock Index FundVanguard | Passive | 8.27% | +6.7% | Pro | Pro | 0.12% | £1.6B | Free account |
| WisdomTree Global ex-U.S. Quality Dividend Growth FundWisdomTree | Not classified | 7.98% | +15.6% | Pro | Pro | 0.42% | n/a | Free account |
| Global Franchise FundNinety One | Active | 7.90% | +3.3% | Pro | Pro | 0.94% | £6.5B | Free account |
| BlackRock Global Unconstrained Equity FundBlackRock | Not classified | 7.86% | +5.4% | Pro | Pro | 0.95% | £3.5B | Free account |
| Fidelity European TrustFidelity | Active | 7.85% | −0.9% | Pro | Pro | 0.68% | £2.1B | Free account |
| Fidelity European FundFidelity | Active | 7.82% | +3.5% | Pro | Pro | 0.91% | £3.9B | Free account |
| WisdomTree Europe Hedged Equity FundWisdomTree | Not classified | 7.72% | +15.6% | Pro | Pro | 0.58% | n/a | Free account |
| FL Newton Continental European APFL | Not classified | 7.34% | n/a | Pro | Pro | n/a | £76K | Free account |
| European FundBlackRock | Active | 7.08% | +7.7% | Pro | Pro | 1.81% | £1.0B | Free account |
| Goldman Sachs Europe Sustainable EquityGoldman Sachs Asset Management | Active | 6.92% | +3.1% | Pro | Pro | 1.05% | £263.4M | Free account |
| Jupiter European FundJupiter Asset Management | Active | 6.56% | +12.7% | Pro | Pro | 1.74% | £2.7B | Free account |
| Principal International Equity ETFPrincipal | Passive | 6.40% | n/a | Pro | Pro | n/a | n/a | Free account |
| Comgest Growth EuropeComgest | Active | 6.29% | −7.0% | Pro | Pro | 1.14% | £1.5B | Free account |
| iShares Continental European Equity ESG Screened and Optimised Index Fund (UK)BlackRock | Passive | 6.20% | +14.5% | Pro | Pro | 0.06% | £1.4B | Free account |
| European Value FundMFS | Active | 6.08% | +8.4% | Pro | Pro | 2.05% | £1.3B | Free account |
| BlackRock ACS Continental European Equity TrackerBlackRock | Passive | 5.93% | +15.6% | Pro | Pro | 0.02% | £1.2B | Free account |
| abrdn European Equity Tracker FundAberdeen Group plc | Passive | 5.90% | +14.5% | Pro | Pro | 0.09% | £943.0M | Free account |
| iShares Europe ex-UK Index FundBlackRock | Passive | 5.88% | +10.1% | Pro | Pro | 0.04% | £2.8B | Free account |
| Coutts Europe ex-UK Equity Index FundBlackRock | Passive | 5.88% | +7.4% | Pro | Pro | 0.05% | £1.3B | Free account |
| UniESG Aktien EuropaUnion Investment | Active | 5.84% | +8.6% | Pro | Pro | 1.01% | £1.8B | Free account |
| ACS Europe ex UK ESG Insights Equity FundBlackRock | Passive | 5.78% | +8.9% | Pro | Pro | 0.02% | £5.2B | Free account |
| iShares MSCI Intl Quality Factor ETFBlackRock | Passive | 5.78% | +17.6% | Pro | Pro | n/a | n/a | Free account |
| Goldman Sachs Eurozone Equity IncomeGoldman Sachs Asset Management | Active | 5.77% | +8.7% | Pro | Pro | 1.80% | £1.6B | Free account |
| Vanguard FTSE Developed Europe ex-U.K. Equity Index FundVanguard | Passive | 5.75% | +9.3% | Pro | Pro | 0.12% | £5.9B | Free account |
| Eleva European Selection FundEleva Capital | Active | 5.73% | +11.5% | Pro | Pro | 1.58% | £8.0B | Free account |
| Vanguard FTSE Developed Europe ex UK UCITS ETFVanguard | Passive | 5.62% | +8.6% | Pro | Pro | 0.10% | £2.3B | Free account |
| European Index FundHSBC | Passive | 5.59% | +8.5% | Pro | Pro | 0.18% | £7.7B | Free account |
| iShares Continental European Equity Index FundBlackRock | Passive | 5.56% | +8.5% | Pro | Pro | 0.21% | £7.3B | Free account |
| AMUNDI ACTIONS EUROPE ENVIRONNEMENTAmundi | Active | 5.44% | +4.4% | Pro | Pro | 0.90% | £1.5B | Free account |
| Europe Equity Green TechnologyAmundi | Active | 5.44% | +3.5% | Pro | Pro | 0.96% | £94.6M | Free account |
| Top European ResearchEurizon | Active | 5.32% | +8.3% | Pro | Pro | 1.94% | £3.3B | Free account |
| NTCM Europe Low Carbon Plus Equity Index FundNorthern Trust | Passive | 5.11% | +10.4% | Pro | Pro | 0.05% | £1.7B | Free account |
| Allianz Best Styles Europe EquityAllianz Global Investors | Active | 4.95% | +15.2% | Pro | Pro | 1.37% | £1.1B | Free account |
| BlackRock for Formue Europe Equity Index FundBlackRock | Passive | 4.91% | +11.1% | Pro | Pro | 0.08% | £393.0M | Free account |
| NT Europe Screened Equity Index FGR FundNorthern Trust | Passive | 4.86% | +11.4% | Pro | Pro | 0.10% | £2.4B | Free account |
| Eleva Absolute Return Europe FundEleva Capital | Active | 4.80% | −3.7% | Pro | Pro | 2.08% | £4.2B | Free account |
| Helium PerformanceSYQUANT Capital | Active | 4.76% | −0.8% | Pro | Pro | 1.18% | £1.4B | Free account |
| Global Opportunity FundMorgan Stanley Investment Management | Active | 4.65% | −12.1% | Pro | Pro | 0.97% | £9.4B | Free account |
| DPAM B Equities Europe IndexDegroof Petercam Asset Management | Passive | 4.60% | +14.0% | Pro | Pro | 0.36% | £901.6M | Free account |
| International Quality ETFGMO | Active | 4.60% | +5.6% | Pro | Pro | n/a | n/a | Free account |
| BlackRock Europe Equity 1 FundBlackRock | Passive | 4.57% | +14.4% | Pro | Pro | 0.05% | £1.2B | 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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