EMISSIONS: EU Mid-Day Carbon Summary: EUAs/UKAs Track Weekly Gains On Equities

EUAs Dec25 are on track for a 2.45% weekly gain, supported by 3% gains in EU equities amid strong earnings and optimism over potential ceasefire in Ukraine. UKA Dec25 are on track for a 3.5% weekly gain, hitting the one-week high and standing above all 10, 50, 100-day moving average, supported by gains in the EUAs and EU equities, and the BOE rate cut. EUAs/UKAs Dec25 are rising today, supported by the near 2% intraday uptick in TTF and a continued winning streak in EU equities.

• EUA DEC 25 up 1.56% at 72.89 EUR/t CO2e
• UKA DEC 25 up 1.2% at 51.65 GBP/t CO2e
• TTF Gas SEP 25 up 0.9% at 33.25 EUR/MWh
• NBP Gas SEP 25 up 0.5% at 81.47 GBp/therm
• Estoxx 50 up 0.2% at 5342.24
• FTSE 100 SEP 25 up 0% at 9103.5
• The latest Germany ETS CAP3 auction cleared at €72.14/ton CO2e, up 1.41% compared with the previous Germany auction at €71.14/ton CO2e according to EEX.
• TTF front month is slightly higher on the day but still set for a net weekly drop amid steady fundamentals and healthy storage injections, offsetting the warm weather forecast.
• European stocks gained more than 3% this week, on track for their best week since May amid strong earnings and optimism over a potential ceasefire in Ukraine. Meanwhile, the 15% US chip tariff ceiling for the EU also supported the upside.
• Markets are also watching developments around US Federal Reserve, with expectations for a rate cut in Sep as  the Fed Governor Christopher Waller, who voted a rate cut, can potentially replace Fed Chair Jerome Powell, Bloomberg reported on 8 Aug.
• EnBW is selling its 50% stake in lignite-fired power station and will cease generating power using lignite by the end of 2025, which is expected to will cut annual emissions in its portfolio by up to 2.5mn tonnes CO2e, while increasing the share of renewable energies to 64%, it said.