Newsquawk Daily European Equity Opening News - 15th September 2025

ASIA

APAC stocks traded mixed with the region somewhat cautious ahead of this week's flurry of central bank updates and as participants digested disappointing Chinese activity data, while Japanese participants were away for a holiday ASX 200 marginally declined amid weakness in the healthcare, mining and financial sectors, in which the latter was pressured by losses in Big 4 bank ANZ after it admitted to widespread misconduct related to incorrectly reporting bond trading data and agreed to pay AUD 240mln in penalties. Hang Seng and Shanghai Comp were kept afloat with the Hong Kong benchmark lifted by tech strength after China announced an antidumping investigation into certain US analogue chips and began an anti-discrimination investigation into US measures against China in the integrated circuit sector, while US and Chinese officials also began talks on TikTok and trade in Madrid on Sunday. Nonetheless, the gains were limited as participants also digested disappointing activity data.

BHP (BHP AT) - Co. has touted solid copper potential, noting that "we now have four big copper growth basins on top of the 28% copper growth that we have seen in recent years". (Newswires)

Chinese data - Retail Sales YY (Aug) 3.4% vs. Exp. 3.9% (Prev. 3.7%); Industrial Output YY (Aug) 5.2% vs. Exp. 5.7% (Prev. 5.7%); Unemployment Rate Urban Area (Aug) 5.3% (Prev. 5.2%)

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +0.08% at 5,391, Dax 40 -0.06% at 23,689, FTSE 100 -0.15% at 9,283, CAC 40 +0.02% at 7,825, FTSE MIB +0.32% at 42,566, IBEX 35 -0.09% at 15,308, PSI -0.08% at 7,748, SMI -0.78% at 12,197, AEX +0.35% at 909.

SECTORS: Utilities 0.67%, Industrials 0.38%, Telecoms 0.31%, IT 0.21%, Financials 0.14%, Materials -0.05%, Consumer Disc -0.28%, Energy -0.31%, Consumer Stpl -0.57%, Healthcare -1.16%

FTSE 100

AstraZeneca (AZN LN) - Co. pauses its USD 270mln investment in its Cambridge UK facility, via co. spokesman. (Newswires)

Centrica (CNA LN) - Co. is part of a GBP 10bln plan to construct the UK's first advanced modular reactors, in partnership with the US' X-energy. (FT/Centrica)

J Sainsbury (SBRY LN), JD.com (JD) - J Sainsbury has terminated discussions with JD.com over a potential sale of Home Retail Group, after JD.com proposed materially revised terms deemed not in the best interests of Sainsbury's shareholders, colleagues, and stakeholders. (Bloomberg)

National Grid (NG/ LN) - Co. along with Emerald AI announce a strategic partnership to demonstrate AI flexibility in the UK. (Newswires)

UK Maritime - UK government announces over GBP 1.1bln in joint government and industry investment for the maritime sector. (Newswires)

UK Housing - UK Rightmove House Prices YY (Aug) -0.1% (Prev. 0.3%); House Prices MM (Aug) 0.4% (Prev. -1.3%); Zoopla exec said, "Lower migration and better mortgage availability for first time buyers are easing the scale of the competition for rented homes". (Newswires)

UK Investment - US financial firms, including PayPal (PYPL), Bank of America (BAC), Citigroup (C), and S&P Global (SPGI), pledged over GBP 1.25bln in new UK investments ahead of President Trump’s state visit (September 16-18th). The investments are expected to create 1,800 jobs, while supporting GBP 20bln in UK-US trade, Reuters reports. The US and UK will sign an agreement to accelerate construction of nuclear power stations during Trump’s visit this week (September 16-18th); the nuclear deal is part of several economic agreements the UK plans to announce to ensure the visit avoids diplomatic or political difficulties. Additionally, the UK will sign a “ground-breaking tech agreement” with the US aimed at benefiting businesses and consumers on both sides of the Atlantic, though details of the accord were not disclosed. (Newswires)

UK Nuclear - US and UK were reported on Friday to be rushing to finalise deals on nuclear reactors, artificial intelligence data centres and whisky ahead of a state visit to London by US President Trump, according to FT. It was also reported that the UK and the US are to sign a ‘ground-breakingʼ tech deal during President Trumpʼs visit, according to Bloomberg. (FT / Bloomberg)

UK Budget - UK Chancellor Rachel Reeves may need an additional £4 billion ($5.4 billion) to balance her budget if the Bank of England halts active gilt sales in its upcoming decision. The central bank will also outline the pace of unwinding its quantitative easing portfolio over the next 12 months, potentially affecting Reeves ahead of her November 26 budget. (Bloomberg)

OTHER UK COMPANIES

BROKER MOVES

DAX

OTHER GERMAN COMPANIES

BROKER MOVES

CAC

Airbus (AIR FP), Boeing (BA) - WSJ reports that incidents of toxic fumes on airplanes are rising, driven mainly by leaks in Airbus A320 jets. Reports to the FAA cite emergency landings, passenger illnesses, and impaired pilot vision. While most fumes are temporary, some have severe effects. Airbus and Boeing acknowledged malfunctions can release neurotoxins, carbon monoxide, and other chemicals. (WSJ)

French stocks - Fitch cut France’s sovereign rating from AA- to A+. Fitch highlights: France's general government debt ratio will continue to rise, reflecting persistent primary fiscal deficits. The government's defeat in a confidence vote illustrates the increased fragmentation and polarisation of domestic politics. France has a weak record of fiscal consolidation and compliance with EU fiscal rules. (Newswires / Fitch)

OTHER FRENCH COMPANIES

Veolia (VIE FP) - Co. to supply tech for an industrial water project in Saudi Arabia. (Newswires)

BROKER MOVES

PAN EUROPE

Defence names - Leonardo (LDO IM), Thales (HO FP) and Airbus (AIR FP) reportedly eyeing an initial agreement on the EU10B satellite joint venture, and holdings could be split in roughly three equal stakes, according to Reuters citing sources. (Reuters)

Italian Banks - Italy's Economy Minister says Italian banking sector needs consolidation to face Big Tech challenges. Elsewhere, Italy's co-ruling League party wants national banks to contribute to the Government's 2026 budget proposal with at least EUR 1bln. (Newswires)

Oil Prices - US President Trump says he is willing to impose sanctions on Russia and Europe has to toughen sanctions and should avoid purchasing oil from Russia. (Newswires)

Spanish stocks - S&P upgrade Spain to A+; Outlook stable. Upgraded on strengthening external financial position. A decade of private sector deleveraging has led to a notable improvement in Spain's external balance sheet, lowering the economy's sensitivity to sudden changes in external financing conditions and improving its overall resilience to economic shocks. Immigration (mostly from Latin America), investment activity, and past structural reforms continue to drive buoyant employment growth and domestic demand. For 2025, we project economic growth will reach 2.6% (3x the eurozone average). In our view, Spain's service-based economy and limited U.S. trade exposure insulate it from the immediate consequences of U.S. merchandise tariffs. We therefore raised our unsolicited long-term foreign and local currency sovereign credit ratings on Spain to 'A+' from 'A' and affirmed our 'A-1' short-term ratings. The outlook is stable.

Stellantis (STLAM IM) - Co. is reassessing its product strategy and will discontinue the development of a full-sized battery electric vehicle pickup, via website. (Stellantis)

Snam (SRG IM) - Co's acquisition of Open Grid Europe stake has been delayed, and will not be finalised by end-Sept as scheduled. (II 24 Sore Ore)

BROKER MOVES

Brunello Cucinelli (BCU IM) initiated with Overweight at JPMorgan

SMI

Nestle (NESN SW) - Nestle investors have urged Chairman Paul Bulcke to resign following the departure of CEO Laurent Freixe, the second CEO in just over a year, FT reports. Shareholders criticised Bulcke for the company’s instability and governance issues, citing Freixe’s appointment and handling of the investigation into his conduct as aggravating factors. (FT)

UBS (UBSG SW) - Co. could move to the US as it seeks to avoid new capital requirements in Switzerland, via the New York Post. It was reported that senior UBS execs have met with officials in US President Trump's administration, to discuss the strategy shift which could also include the acquisition/merger of a US bank. (New York Post).

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Skanska (SKAB SS) - Co. signs SEK 1.2bln extra contract for biotech facility. (Newswires)

Novo Nordisk (NOVOB DC) - Triple dose of Novo Nordisk drug reportedly delivers 19% weight loss in trials, according to FT. (FT)

BROKER MOVES

US

CLOSES: SPX -0.06% at 6,584, NDX +0.41% at 24,092, DJI -0.59% at 45,838, RUT -1.11% at 2,395.

SECTORS: Consumer Discretionary +0.56%, Utilities +0.56%, Technology +0.44%, Communication Services +0.21%, Consumer Staples -0.26%, Real Estate -0.47%, Financials -0.48%, Energy -0.57%, Industrials -0.82%, Materials -0.97%, Health -1.13%.

Fed's Cook - President Trump is pressing a US appeals court to allow him to fire Fed Governor Lisa Cook over alleged mortgage fraud before this week’s interest-rate vote, seeking to lift a September 9th injunction that blocks her dismissal while her lawsuit proceeds. A ruling from the three-judge panel could arrive by Monday, Bloomberg said.

Nvidia (NVDA) - Nvidia has reportedly dropped its initial SOCAMM1 low-power DRAM module for AI workloads, shifting focus to SOCAMM2 with higher speeds and wider supplier collaboration, including Micron (MU), Samsung (SSNLF), and SK Hynix (HXSCL), signalling a strategic push for next-generation AI systems, DigiTimes reports.

Tesla (TSLA) - Tesla’s German factory near Berlin will increase production plans for Q3 and Q4 due to “very good sales figures,” plant manager André Thierig said, citing positive signals for all supplied markets. Specific new production targets were not disclosed. Separately, Tesla faces a proposed class-action lawsuit alleging it systematically favours visa holders over US citizens in hiring and firing, enabling lower wages, Reuters reports.

TikTok - Wall Street executives working on the TikTok deal said President Trump will announce another operating extension this week as the last one concludes on September 17th, although this could change, while the fate of the app is tied to the US-China trade talks and China is using it for leverage, according to Fox’s Gasparino who cited sources that noted it is easier for Trump to just extend the deadline and continue with negotiations.

US data - A massive spike in jobless claims on Thursday heightened fears of a swift labor market deterioration — but it turns out many of those claims were fake, according to Axios

15 Sep 2025 - 06:59- Fixed IncomeGeopolitical- Source: Newsquawk