Newsquawk Daily European Equity Opening News - 15th December 2025

ASIA

APAC stocks were mostly pressured at the start of a risk-packed week and following on from the tech-led declines stateside amid a rotation out of AI, while participants digested economic releases, including the BoJ Tankan and Chinese activity data. ASX 200 retreated with the declines led by mining, materials, resources and tech sectors, with the mood in Australia also sombre following a terror attack on Bondi Beach targeting a Jewish celebration. Nikkei 225 underperformed ahead of a widely anticipated BoJ rate hike later this week, while the quarterly BoJ Tankan survey showed sentiment of Large Manufacturers was at the highest in four years, which supports the case for a rate hike. Hang Seng and Shanghai Comp were subdued after the latest Chinese activity data disappointed and house prices continued to contract, with tech and biotech leading the declines in Hong Kong, while losses in the mainland were contained after reports that China is to issue ultra-long-term special government bonds in 2026 to fund major national strategies and security initiatives, as well as large-scale equipment upgrades and consumer goods trade-in programs.

Japanese stocks - BoJ is likely to begin selling its ETF holdings as soon as January, according to Bloomberg. (Bloomberg)

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.66% at 5,716, Dax 40 -0.34% at 24,211, FTSE 100 -0.56% at 9,649, CAC 40 -0.21% at 8,069, FTSE MIB -0.43% at 43,514, IBEX 35 -0.17% at 16,854, PSI +0.09% at 8,001, SMI -0.19% at 12,881, AEX -0.78% at 940

SECTORS: Utilities 0.57%, Consumer Disc 0.10%, Telecoms 0.01%, Industrials -0.40%, Materials -0.59%, Consumer Stpl -0.65%, Healthcare -0.71%, Financials -0.79%, Energy -0.85%, IT -1.43%

FTSE 100

HSBC (HSBA LN) - HSBC and Hang Seng Bank announce despatch of Scheme Document on proposed privatisation of Hang Seng Bank. Scheme consideration refers to the proposal for the privatisation of Hang Seng Bank. Scheme consideration of HK USD 155 is final and will not be raised. (HSBC)

Next (NXT LN) - Co. is reportedly looking into purchasing Russell & Bromley, a shoe retailer, according to Sky News. The piece, citing sources, suggested that there are also several other suitors. (Sky News)

UK Housing - UK Rightmove House Prices MM (Nov) -1.8% (Prev. -1.8%); YY (Nov) -0.6% (Prev. -0.5%); “With market conditions supporting higher levels of activity, and a hopefully more certain economic environment, we forecast a better year for price growth in 2026 with a strong rebound in activity to kickstart the year”. (Rightmove)

UK Autos - UK is reportedly to stick with EV targets as EU looks to water down petrol ban, via FT; UK plans to phase out all non-zero emission car and van sales by 2035. (FT)

OTHER UK COMPANIES

Travis Perkins (TPK LN) - The Times, citing an email from Travis Perkins, highlighted that supplies in the construction trade are expected to rise in January - some as much as up to 9%. A Chief exec at the British Institute of Fitted Interiors Specialists, said, “Any sort of price increase has an effect on the end user … those costs would need to be pushed on to the consumer”. (The Times)

BROKER MOVES

AB Foods (ABF LN) downgraded to Underperform from Hold at Jefferies

Next (NXT LN) downgraded to Buy from Hold at Jefferies

Smith & Nephew (SN/ LN) downgraded to Sector Perform from Outperform at RBC

Tesco (TSCO LN) downgraded to Buy from Hold at Jefferies

DAX

OTHER GERMAN COMPANIES

BROKER MOVES

Hugo Boss (BOSS GY) downgraded to Add from Buy at Alphavalue

CAC

Orange (ORA FP) - Co. announced the signing of a binding agreement with Lorca to acquire their 50% stake in MasOrange, for a price of EUR 4.25bln in cash. Expected to close in H1’26. (Orange)

Sanofi (SAN FP) - FDA decision on tolebrutib expected to be delayed, with review extended beyond December 28, 2025. Expects FDA guidance by the end of Q1’26 (Newswires)

OTHER FRENCH COMPANIES

Carrefour (CA FP) - Turkey’s Sabanci says there is no binding decision on the disposal of Carrefour shares, with claims in certain channels do not reflect the truth. (Newswires)

Exor (EXO FP) - Co. is not selling its stake in Juventus (JUVE IM) to Tether or to any other party. (Newswires)

SPIE (SPIE FP) - SPIE announced the success of its SHARE FOR YOU 2025 employee shareholding plan and its intention to implement an anti-dilutive share buyback program. (SPIE)

Technip Energies (TE FP) - Awarded detailed engineering contract for Thailand’s first carbon capture and storage project. Project to capture 1mln tonnes of CO2 per year and Co. to engineer CCS units and CO2 injection facilities. (Newswires)

BROKER MOVES

PAN EUROPE

Argenx (ARGX BB) - Co. announced that the Phase 3 UplighTED studies evaluating efgartigimod subcutaneous (SC) (efgartigimod alfa and hyaluronidase-qvfc) in adults with moderate to severe thyroid eye disease (TED) will be discontinued. (Argenx)

Juventus (JUVE IM) - Tether submits proposal to acquire Juventus; in the event that transaction completes, Tether is prepared to invest EUR 1bln in the support and development of the club. (Newswires)

Ryanair (RYA ID) - CEO O'Leary plans to hand over to a nicer successor by 2035, via FT. (FT)

BROKER MOVES

SMI

Sika (SIKA SW) - Co. to acquire leading Mortar company in Sweden to enhance presence in the Nordic region and accelerate growth. Closing of the acquisition is expected in Q1’26, and the transaction is subject to regulatory approvals. Co. has agreed to acquire Finja. (Newswires)

Swiss Life (SLHN SW) - Chairman Dorif will stand for election for a final term that will run until the 2027 Annual General Meeting. To add, members Henry Peter and Adrienne Fumagalli will not be putting themselves forward for re-election at the 2026 Annual General Meeting. (Swiss Life)

OTHER SWISS COMPANIES

BROKER MOVES

Barry Callebaut (BARN SW) downgraded to Equal Weight from Overweight at Morgan Stanley

SCANDINAVIA

Danske Bank (DANSKE DC) - Bank confirms conclusion of US Department of Justice probation and ends case resolution related to Estonia branch.(Newswires)

Kongsberg Gruppen (KOG NO) – Co. to deliver joint strike missiles (JSM) to the US Air Force. Awarded a USD 240mln firm-fixed price contract for joint strike missile for the US Air Force. (Newswires)

Sobi (SOBI SS) - Sobi has entered into a definitive agreement to acquire Arthrosi Therapeutics. Sobi will pay USD 950mln upfront in cash to acquire Arthrosi, together with up to USD 550mln in cash in clinical, regulatory and sales milestones. (Sobi)

BROKER MOVES

Neste (NESTE FH) upgraded to Buy from Hold at Berenberg

US

CLOSES: SPX -1.07% at 6,827, NDX -1.91% at 25,197, DJI -0.51% at 48,458, RUT -1.51% at 2,551

SECTORS: Technology -2.87%, Energy -0.94%, Communication Services -0.69%, Industrials -0.64%, Utilities -0.47%, Real Estate -0.11%, Financials +0.11%, Consumer Discretionary +0.11%, Materials +0.19%, Health +0.30%, Consumer Staples +0.93%.

Oracle (ORCL) - Co. says there have been no delays to any sites required to meet their contractual commitments, and all milestones remain on track. (Newswires)

15 Dec 2025 - 07:02- Fixed IncomeResearch Sheet- Source: Newsquawk