Newsquawk Daily European Equity Opening News - 12th August 2025

ASIA

APAC stocks shrugged off the weak lead from Wall St and traded mostly higher with outperformance in Japan on return from the extended weekend and following a deluge of earnings, while participants also reflected on the recent US-China trade truce extension. ASX 200 eked slight gains and extended on record highs with only mild tailwinds seen after the RBA delivered a widely expected 25bps rate cut. Nikkei 225 surged on return from the long weekend and followed suit to the record-setting performance in the TOPIX with the index underpinned following a slew of earnings releases and recent currency weakness. Hang Seng and Shanghai Comp kept afloat following the confirmation of a 90-day extension to the US-China tariff truce with the new deadline set for November 9th.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.30% at 5,332, Dax 40 -0.37% at 24,072, FTSE 100 +0.37% at 9,130, CAC 40 -0.57% at 7,699, FTSE MIB -0.10% at 41,584, IBEX 35 +0.21% at 14,856, PSI -0.46% at 7,745, SMI +0.02% at 11,869, AEX +0.31% at 894.

SECTORS: Telecoms 0.91%, Financials 0.47%, Healthcare 0.35%, Consumer Stpl 0.32%, IT 0.25%, Energy -0.18%, Utilities -0.33%, Materials -0.78%, Industrials -0.82%, Consumer Disc -0.97%

FTSE 100

UK Barclays Consumer Spending - Barclays UK July Consumer Spending rose 1.1% Y/Y (prev. -0.1% Y/Y in June); 4.2% rise in clothing sales.

UK BRC - UK BRC Retail Sales YY (Jul) 1.8% (Prev. 2.7%); Total Sales YY (Jul) 2.5% (Prev. 3.1%); BRC Chief said, "Rising food inflation meant increased spending was more a result of higher prices than improved demand".

OTHER UK COMPANIES

BROKER MOVES

DAX

Hannover Re (HNR1 GY) - H1 (EUR): EBIT 1.76bln (exp. 1.18bln), Net Income 1.31bln (exp. 837mln, prev. 1.16bln Y/Y). GWP 13.33bln, +3.3% Y/Y. Q2: EBIT 1.07bln (exp. 1.1bln). EBIT Confirms 2025 guidance. (Newswires) Shares -1.1% in pre-market trade

Rheinmetall (RHM GY) - Co. Chief says tanks are to get cheaper despite a surge in defence spending. (FT)

Merck (MRK GY) - Co. is planning a USD 4bln bond sale to fund SpringWorks acquisition, according to Bloomberg. (Bloomberg)

Volkswagen (VOW3 GY) - Scania is to export half of trucks built at its EUR 2bln China plant as it aims to stay close to "cutting edge tech", via the FT. (FT)

OTHER GERMAN COMPANIES

Cecenomy (CEC GY) - Q3 Final (EUR): Revenue 4.8bln (prev. 4.92bln Y/Y). Affirms guidance. Says is on track to achieve its communicated midterm targets. (Newswires)

K+S (SDF GY) - Q2 (EUR): EBITDA 109.7mln (exp. 138.8mln), Revenue 871.2mln (exp. 926.2mln). Affirms guidance. (Newswires)

TAG Immobilien (TEG GY) - H1 (EUR): EBITDA 126.4mln, +5% Y/Y, FFO 91.6mln, +4% Y/Y. (Newswires)

BROKER MOVES

CAC

OTHER FRENCH COMPANIES

BROKER MOVES

PAN EUROPE

BBVA (BBVA SM) / Banco Sabadell (SAB SM) - BBVA informs about its decision not to withdraw its offer for Sabadell. (Newswires)

BROKER MOVES

Repsol (REP SM) upgraded to Overweight from Underweight at JPMorgan

SMI

Novartis (NOVN SW) - Novartis Ianalumab phase III trial in ITP met its primary endpoint, demonstrating a statistically significant improvement in time to treatment failure. Data is expected to be presented at an upcoming medical meeting and included in future regulatory submissions in 2027, along with results from the ongoing first-line ITP trial, VAYHIT1. Ianalumab has been granted orphan drug designation by the FDA and EMA. Novartis announced positive results from the VAYHIT2 phase III trial. Details on news announced in the prior session

OTHER SWISS COMPANIES

Sandoz (SDZ SW) - Co. launches renewable energy partnership to cover nearly 90% of electricity demand for European operations. (Newswires)

Tecan (TECN SW) - H1 (CHF): Revenue 439.5mln (exp. 466.6mln). Affirms guidance. Co. is to buy back up to CHF 120mln in stock. (Newswires)

BROKER MOVES

SCANDINAVIA

ISS (ISS DC) - Q2 (DKK): Revenue 20.68bln (exp. 21.03bln). Outlook for 2025 unchanged. Decided to increase share buyback programme by DKK 500mln. (Newswires)

Norwegian Wealth Fund - Fund returned 5.7% in H1, driven by good returns especially in the financial sector. (Newswires)

Vestas (VWS DC) - Co. adds 950 MW to Q3 order intake. (Newswires)

BROKER MOVES

Equinor (EQNR NO) downgraded to Underweight from Neutral at JPMorgan

US

CLOSES: SPX -0.20% at 6,377, NDX -0.36% at 23,527, DJI -0.45% at 43,976, RUT -0.04% at 2,217.

SECTORS: Consumer Staples +0.17%, Consumer Discretionary +0.14%, Health +0.07%, Financials -0.05%, Communication Services -0.08%, Materials -0.24%, Industrials -0.29%, Utilities -0.36%, Technology -0.56%, Real Estate -0.65%, Energy -0.79%.

Fed - Fed Governor Bowman, Fed Vice Chair Jefferson, and Dallas Fed President Logan are reportedly under consideration for Fed Chair; WH on track for Fed Chair announcement this fall, according to Bloomberg. (Bloomberg)

Intel (INTC) - US President Trump says he met with Intel CEO Lip-Bu Tan along with Secretary of Commerce Lutnick and Treasury Secretary Bessent, adds meeting was very interesting; Tan and cabinet will spend time together and bring suggestions in the next week

NVIDIA (NVDA) - China urges firms not to use NVIDIA H20 chips in new guidance, according to Bloomberg. (Bloomberg)

12 Aug 2025 - 06:49- Research Sheet- Source: Newsquawk