EUROPEAN EQUITY UPDATE: European bourses on the backfoot; Auto and Media sector pair yesterday's losses

STOXX 600: -0.2%

• European bourses have opened on the backfoot. Major downside can be seen in DAX (-0.4%), FTSE 100 (-0.4%), CAC 40 (-0.2%) and Euro Stoxx 50 (-0.2%).


• Data this morning includes German import & export prices, retail sales, UK house prices and EZ HICP - metrics which failed to alter the market.

Sectors: Negative

• European sectors have opened largely in the red, with Automobiles & Parts (+0.4%) and Media (+0.3%) the only sectors in the green. Autos and Media are positive today, paring recent losses after facing steep losses yesterday with both sectors finishing near the bottom amongst all sectors.


• Near the bottom we have Telecommunications (-1.1%), Construction & Materials (-1%) and Insurance (-1%). Loses in DTE (-1.5%) after announcement that Germany is considering using public funds to pay the co. to replace Huawei equipment has dampened sentiment for the Telecommunication sector as well as losses in Telefonica (-2.2%) after the Co. plans to cut dividend to 4.8% to align with European peers, according to Bloomberg, citing sources. Elsewhere, newsflow has been light for the construction and Insurance sector.

Movers:

• Fresnillo (+2.3%) - Co. to buy Probe Gold for CAD 780mln. (Fresnillo)


• Auto Trader (-1.11%)/ Moonpig (+1.9%) - Catherine Faiers is to step down as COO at Auto Trader to become CEO at Moonpig.


• Telefonica (1.2%) - Co. plans to cut its dividend to 4.8% to align with European peers, according to Blomberg citing sources.


• Remy Cointreau (-2.1%) downgraded to Neutral from Buy at Goldman Sachs

US Equity Futures: ES +0.7%, NQ +0.3%, Dow +0.1%

• US Equity futures are largely firmer with upsides seen in ES (+0.7%), NQ (+0.3%), DJI (+0.1%), whilst the RTY is flat. Sentiment in US equities have rebounded following yesterdays’ weak close due to pre-market gains in Amazon (+11.4%) and Apple (+1.7%) after both Co's posted positive Q3 earnings.


• Looking ahead in the US, we have data from US Dallas Fed PCE and October Chicago PMI. Speakers include Fed’s Logan, Bostic and Hammack. Miran and Schmid will also be speaking with both speakers explaining their dissent following the Fed’s decision this week. We also have earnings from Exxon Mobil, Chevron, AbbVie and AON.

31 Oct 2025 - 10:15- EquitiesData- Source: Newsquawk