Newsquawk Daily European Equity Opening News - 14th August 2025

ASIA

APAC stocks were ultimately mixed despite the positive handover from Wall St, where the major indices extended on gains amid Fed rate cut hopes as money markets fully priced in a September rate cut. ASX 200 extended on record highs with utilities and financials leading the advances following earnings releases from the likes of Origin Energy and Westpac. Nikkei 225 pulled back from record highs and returned to beneath the 43,000 level with pressure seen amid profit taking, higher yields and a firmer currency. Hang Seng and Shanghai Comp were initially supported with earnings releases in focus including a jump in profits for Tencent Holdings, although gains were capped following weaker-than-expected loans and aggregate financing data from China which showed New Loans contracted for the first time since 2005.

Geely Automobile (GELYY) - Geely Automobile’s H1 profit rose to CNY 9.3bln (exp. 7.6bln), driven by strong sales and cost reductions. Results also reflect a retrospective accounting policy change.

Lenovo (992 HK) - CEO says AI infrastructure saw strong growth in China in fiscal Q1 despite US-China tech tensions, while US-China tariff pause is a positive situation for the company's business. (Newswires)

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +1.01% at 5,390, Dax 40 +0.69% at 24,190, FTSE 100 +0.19% at 9,165, CAC 40 +0.66% at 7,805, FTSE MIB +0.60% at 42,186, IBEX 35 +1.09% at 15,022, PSI +0.06% at 7,760, SMI +0.76% at 11,974, AEX +0.56% at 900

SECTORS: Healthcare 1.70%, IT 1.39%, Consumer Disc 1.20%, Utilities 0.73%, Telecoms 0.68%, Financials 0.62%, Consumer Stpl 0.47%, Materials 0.40%, Industrials -0.40%, Energy -0.60% 

FTSE 100

Ex-dividends - Pershing Square Holdings (PSH LN), HSBC Holdings (HSBA LN), GSK (GSK LN), Rio Tinto (RIO LN), Shell (SHEL LN), Rentokil Initial (RTO LN), London Stock Exchange Group (LSEG LN), Unilever (ULVR LN), Haleon (HLN LN), Melrose Industries (MRO LN), IMI (IMI LN), Pearson (PSON LN), Fresnillo (FRES LN), BP (BP/ LN), Hiscox (HSX LN), Hikma Pharmaceuticals (HIK LN), will trade without entitlement to their latest dividend pay-out on Thursday. (Newswires)

Centrica (CNA LN) - Co. is reportedly the front runner to buy National Grid's (NG LN) terminal in a GBP 1.5bln deal, according to FT. (FT)

Shell (SHEL LN) - Norco, Louisiana refinery (250k bpd) shuts its catalytic cracker early for planned overhaul, according to sources which stated a leak triggered the overhaul at the gasoline-producing unit a month ahead of schedule. (Newswires)

UK RICS - UK RICS Housing Survey (Jul) -13.0 vs. Exp. -5.0 (Prev. -7.0)

UK Stock Market - City AM writes "‘IPO jungle drums starting to beat’: City grandees eye autumn flurry" (City AM).

OTHER UK COMPANIES

BROKER MOVES

DAX

HelloFresh (HFG GY) - Q2 (EUR): Revenue 1.699bln (exp. 1.76bln), Net Profit 13.3mln (prev. 9.1mln Y/Y). Cut FY earnings outlook due to adverse currency developments. Sees FY Adj. EBITDA 415-465mln (prev. guided 450-500mln) (Newswires)

Lanxess (LXS GY) - Q2 (EUR): Sales 1.47bln (exp. 1.58bln), EBITDA 150mln. Cuts FY Outlook: EBITDA 520-680mln (prev. guided 600-650mln). (Newswires) Shares -3.3% in pre-market trade

RWE (RWE GY) - H1 (EUR): Adj. Net Income 775mln (exp. 808mln, prev. 801mln Y/Y), EBITDA 2.14bln (exp. 2.20bln, prev. 2.90bln Y/Y). Affirms outlook. (Newswires) Shares -1.1% in pre-market trade

OTHER GERMAN COMPANIES

Hapag Lloyd (HLAG GY) - H1 (USD): Revenue 10.59bln (prev. 9.51bln Y/Y), EBITDA 1.92bln (prev. 1.96bln Y/Y). Narrows FY EBITDA 2.8-3.8bln (prev. 2.5-4bln Y/Y). (Newswires)

Thyssenkrupp (TKA GY) - 9M (EUR): Net Income -121mln (prev. -410mln Y/Y), Adj. EBIT 365mln (prev. 416mln Y/Y), Revenue 30.7bln (prev. 24.9bln Y/Y). Q3: Sales 8.15ln (exp. 8.74bln). Net Loss widens to 278mln, citing EUR 135mln tax effect related to spin-off of TKMS and EUR 100mln impairment in the steel division. Cuts FY25 Revenue -7 to -5% (prev. guided -3 to 0%). Now expects 2025 Adj. EBIT at the lower end of target range. (Newswires)

Talanx (TLX GY) - H1 (EUR): Net Income 1.37mln. Co. says it is optimistic for the rest of Q3 and the year. Sees FY Net Profit of more than EUR 2.1bln (exp. 2.26bln). (Newswires)

BROKER MOVES

CAC

Sanofi’s (SAN FP) - Rilzabrutinib earns orphan designation in the EU for IgG4-related disease. (Newswires)

OTHER FRENCH COMPANIES

BROKER MOVES

PAN EUROPE

Adyen (ADYEN NA) - H1 (EUR): Net Revenue 1.09bln (exp. 1.11bln), EBITDA 543.7mln (exp. 550.8mln). Guidance: Now considers the previously anticipated FY Net Revenue acceleration unlikely. (Newswires)

Defence/Infrastructure Names - Belgium, Germany and the Netherlands are in discussions to revive the Rhine railway, via Politico; framed as a measure to boost military mobility in response to the Russian threat. (Politico)

EDP (EDPR PL) - Signs asset rotation deal for 207 MWAC solar portfolio in Italy. (Newswires)

Geopolitics - US President Trump, on call with European Leaders and Ukraine President Zelensky, says it was a very good call, "rate it a 10", going to meet with Russian President Putin, then will call Zelensky and European leaders. Trump said he would like to do a second meeting with Russian President Putin almost immediately which would include Zelensky if the first meeting goes okay, but there may not be a second meeting if he feels it is inappropriate or if he does not get the answers he wants. (Newswires)

Pharma - US President Trump signed a pharma executive order to fill Strategic Active Pharmaceutical Ingredients Reserve with critical drug components, while he signed a space industry related executive order. US government's announcement on pharma sector probe and tariffs unlikely for a few weeks, according to Reuters citing sources. Sources said that they expect the Trump admin to announce the results of its national security investigation into semiconductors first, followed by the pharma announcement, putting it a few weeks away. A source at a European drugmaker said the Trump admin is focused on the US-Russia summit in Alaska on Friday and therefore no announcement is expected this week. (Newswires)

BROKER MOVES

ArcelorMittal (MT NA) initiated with an Equal Weight at Wells Fargo

SMI

Swiss Re (SREN SW) - H1 (USD): Net Income 2.61bln (exp. 1.99bln), P&C Reinsurance Net Income 1.2bln. Confirms FY guidance. (Newswires)

UBS (USBG SW) - Co. is reportedly to miss the internal target of reducing its workforce to 85k by 2026, when the Credit Suisse integration is expected to conclude, via FT citing sources. (FT)

OTHER SWISS COMPANIES

Holmen (HOLMB SS) - Q2 (SEK): Sales 5.57bln (exp. 6.07bln). Notes that pulpwood prices were largely unchanged due to lower industrial activity and weaker demand from energy sector. (Newswires)

BROKER MOVES

SCANDINAVIA

Lundbeck (HLUNB DC) - H1 (DKK): Revenue 12.25bln, +14% Y/Y. Adj. EBITDA 4.22bln. Raises FY rev. and EBITDA guidance. (Newswires)

Kesko (KESKOB FH) - July Revenue 1.05bln, +5.4% Y/Y. (Newswires)

Veidekke (VEI NO) - Q2 (NOK): Revenue 11.3bln (exp. 10.25bln). Pretax Profit +11% Y/Y.

Zealand Pharma (ZEAL DC) - H1 (DKK): Op. Income +8.1mln (prev. -0.5mln Y/Y), Revenue 9.1mln (prev. 0mln Y/Y). Guidance unchanged. (Newswires)

BROKER MOVES

US

CLOSES: SPX +0.32% at 6,467, NDX +0.04% at 23,849, DJI +1.04% at 44,922, RUT +1.98% at 2,328

SECTORS: Communication Services -0.48%, Consumer Staples -0.44%, Technology -0.19%, Utilities +0.17%, Industrials +0.39%, Financials +0.56%, Real Estate +0.63%, Energy +1.20%, Consumer Discretionary +1.29%, Health +1.58%, Materials +1.69%.

Cisco (CSCO) - Cisco's shares dipped slightly in extended trading after it issued a cautious FY outlook despite rising AI-related sales. Q4 adj. EPS 0.99 (exp. 0.97), Q4 revenue USD 14.7bln (exp. 14.62bln). Q4 adj. gross margin 68.4%, GAAP gross margin 65.7%. AI infrastructure orders were over USD 800mln in Q4, and over USD 2bln in FY25, more than double its original target. Sees Q1 adj. EPS between 0.97-0.99 (exp. 0.97), Q1 revenue between USD 14.65-14.85bln (exp. 14.64bln), supported by strong hyperscale cloud and enterprise demand; Q1 adj. gross margin seen between 67.5-68.5%; guidance includes the estimated impact of tariffs. For the FY26, sees adj. EPS between 4.00-4.06 (exp. 4.02), and FY revenue between USD 59-60bln (exp. 59.46bln).

Pharma Tariffs - The Trump administration’s pharmaceutical import probe and related tariffs are expected to be delayed by weeks, with attention shifting to other priorities, and the semiconductor investigation likely concluding before any pharma-related announcement, Reuters reports.

14 Aug 2025 - 06:59- Research Sheet- Source: Newsquawk