Newsquawk Daily European Equity Opening News - 10th November 2025

ASIA

APAC stocks traded higher amid the improving US-China trade environment and with hopes of ending the US government shutdown as several Democrats supported Republicans to pass a measure through the procedural vote in a rare Senate session on Sunday. ASX 200 gained with the upside led by the mining and tech sectors, while financials also showed resilience despite ANZ positing a decline in fiscal 2025 cash profit. Nikkei 225 rallied amid a weaker currency and as participants digested earnings, while it was also reported that Japan's GPIF posted July-September quarterly investment return of JPY 14.45tln. Hang Seng and Shanghai Comp ultimately conformed to the upbeat mood amid the improving US-China trade environment, as both the US and China relaxed trade restrictions on each other, while there was also inflation data over the weekend which printed above forecasts, although factory gate prices remained in deflation.

Chinese data - Chinese PPI YY (Oct) -2.1% vs. Exp. -2.2% (Prev. -2.3%); MM (Oct) 0.2% vs Exp. 0.0% (Prev. 0.1%); CPI YY (Oct) 0.2% vs Exp. 0.0% (Prev. -0.3%). In brief, Chinese inflation data over the weekend printed above forecasts, although factory gate prices remained in deflation.

TSMC (2330 TT) - October rev. rose 16.8% Y/Y to TWD 367.47bln. (Newswires)

US-China - China halts special port fees for US vessels for one year. Elsewhere, USTR announced suspension of action in Section 301 investigation of China's targeting of maritime logistics and shipbuilding sectors for dominance, while action will be suspended for one year as of 00:01 EST on November 10th. (Newswires)

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.90% at 5,560, Dax 40 -0.75% at 23,556, FTSE 100 -0.55% at 9,683, CAC 40 -0.18% at 7,950, FTSE MIB -0.35% at 42,918, IBEX 35 -1.34% at 15,901, PSI -2.27% at 8,187, SMI -0.02% at 12,296, AEX -1.07% at 951.

SECTORS: Consumer Stpl 0.38%, Telecoms 0.34%, Energy 0.22%, Consumer Disc 0.04%, Materials -0.07%, Healthcare -0.50%, Utilities -0.54%, Industrials -0.81%, Financials -0.82%, IT -1.98%

FTSE 100

AstraZeneca (AZN LN) - Positive full results from the Bax24 Phase III trial showed Baxdrostat demonstrated a statistically significant and highly clinically meaningful reduction in ambulatory 24-hour average systolic blood pressure (SBP) compared with placebo at 12 weeks. (AstraZeneca)

Barclays (BARC LN) - Co. is in talks with Samsung (005930 KS) to launch a consumer credit card in the US. (WSJ)

Diageo (DGE LN) - Outgoing GSK CEO Emma Walmsley is being considered as the new CEO, along with other external candidates for the role. (FT)

SSE (SSE LN) - Bloomberg reports that SSE is exploring funding options; options include the sale of shares, which could raise “billions”. (Bloomberg).

Shell (SHEL LN) - Co. has chartered 150k cubic meters of LNG to Greece, according to Egypt’s Petroleum Ministry. (Newswires)

UK Economy - UK faces an increase in young adults leaving the country owing to low salaries, rising tax burden and a lack of affordable housing, according to wealth managers cited by FT. (FT)

UK Dividends - UK Chancellor Reeves is reportedly set to increase the rate of dividend tax, according to The Telegraph. (The Telegraph)

OTHER UK COMPANIES

BROKER MOVES

Rightmove (RMV LN) upgraded to Buy from Hold at Panmure Liberum

DAX

Hannover Rueck (HNR1 GY) - 9M (EUR): Net profit 2.0bln, +7.7% Y/Y; EBIT 2.5bln, +2.1% Y/Y, raises FY25 net income guidance to around 2.6bln (prev. guided 2.4bln) and sees FY26 net income of at least 2.7bln. (Hannover Rueck)

HelloFresh (HFG GY) - Co. says CEO has not sold any shares in past five years, CEO holdings now highest in decade. Claims around share pledge levels or margin call risks are unfounded and cannot be derived from public director's dealings disclosure. (Newswires)

Siemens (SIE GY) - Co. reportedly favours direct spinoff of stake in Healthineers, according to Bloomberg. (Bloomberg)

Volkswagen (VOW3 GY) - Co. says Nexperia chip supply has resumed. (Newswires)

OTHER GERMAN COMPANIES

Hypoport (HYQ GY) - Q3 (EUR): Revenue 153.8mln (exp. 158.9mln), EBITDA 16.5mln (prev. 12.1mln Y/Y). CEO said, “through the systematic expansion of our platforms across all three industries, we are laying the foundation to pursue record earnings growth next year”. (Hypoport)

Stabilius (STM GY) - Q4 (EUR): EBIT 142.6mln (prev. 157.1mln Y/Y), Revenue 316.1mln (prev. 336.3bln Y/Y). (Newswires)

Salzgitter (SZG GY) - 9M (EUR): Pretax Profit -72.7mln (prev. -141.2mln Y/Y), Revenue 9bln (prev. 7.73bln Y/Y). (Newswires)

BROKER MOVES

Siemens (SIE GY) upgraded to Buy from Hold at Jefferies

CAC

Airbus (AIR FP) - Germany is planning to purchase 20 military combat helicopters from Airbus worth over USD 3bln. In M&A, the co’s Satair is to buy Unical Aviation and is to be finalised in early 2026. (Newswires)

OTHER FRENCH COMPANIES

Eiffage (FGR FP) - Co. wins the public-private partnership contract for construction of a new prison facility in Vresse sur Semois (Belgium), for a total investment amount of EUR 171mln. (Eiffage)

Legrand (LR FP) - Co. has signed an agreement to buyback a maximum of 500,000 shares. (Legrand)

Vallourec (VK FP) - Co. announced a USD 48mln investment to expand its operations in Ohio, construction on its new premium threading line to begin in July 2025 and to be completed by early 2027. In other news, CFO Sascha Bibert has decided to leave the co. in December, with a replacement already identified. (Vallourec)

BROKER MOVES

PAN EUROPE

UniCredit (UCG IM) - Co. is planning to appeal to the Council of State, related to its recent ruling regarding the use of its “golden power” that had blocked the takeover of Banco BPM (BAMI IM). (UniCredit)

BROKER MOVES

SMI

Roche (ROG SW) - Co. announced that the phase 3 trials of Fenebrutinib in patients with relapsing multiple sclerosis have met its primary endpoints, slowing disability progression to the same effect of OCREVUS, the only approved therapy for the condition. (Roche)

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Novo Nordisk (NOVOB DC) - Co. has announced it will not increase its bid to buy Metsera (MTSR), believing the structure of its potential merger agreement is compliant with antitrust laws. It was reported via the WSJ that Pfizer (PFE) has won the bidding war with a deal worth over USD 10bln. (Novo Nordisk / WSJ)

SOBI (SOBI SS) - Co. has presented positive results from the pivotal Phase 3 CORE and CORE2 studies of Olezarsen in people with severe hypertriglyceridemia. (SOBI)

BROKER MOVES

US

CLOSES: SPX +0.06% at 6,725, NDX -0.28% at 25,060, DJI +0.16% at 46,987, RUT +0.54% at 2,432.

SECTORS: Energy +1.55%, Utilities +1.37%, Real Estate +1.34%, Materials +1.27%, Consumer Staples +1.26%, Financials +0.70%, Industrials +0.46%, Health +0.13%, Consumer Discretionary +0.04%, Technology -0.32%, Communication Services -0.83%.

Meta (META) - Co. is investing USD 600bln in US infrastructure and jobs, including industry-leading AI data centres; commitment is by 2028 to support AI tech, infrastructure and workforce expansion. (Newswires)

NVIDIA (NVDA) - CEO said they have very strong demand in Blackwell chips and asked TSMC (2330 TT) for more wafers to meet strong AI demand. (Newswires)

US Shutdown - US Senate advances government funding bill to end shutdown, moving it closer towards passage, with vote at 60 vs 40. (Newswires)

10 Nov 2025 - 06:51- Research Sheet- Source: Newsquawk