Newsquawk Daily European Equity Opening News - 16th June 2025

ASIA

APAC stocks saw mixed trade with sentiment stabilising overnight despite the losses on Wall Street on Friday and the geopolitical escalations over the weekend. This came amid efforts to broker a ceasefire between Israel and Iran, with US President Trump posting on Truth suggesting many calls and meetings are taking place for a peace deal between Tehran and Tel Aviv. ASX 200 moved between modest gains and losses, whilst reports suggested Australian regulator ASIC and RBA have ongoing concerns over ASX’s ability to maintain stable, secure and resilient critical market infrastructure. Santos shares meanwhile jumped 15% at the open after ADNOC made a USD 18.7bln takeover offer for the Co. Nikkei 225 was bolstered by the weaker JPY despite the escalation on the Israel-Iran front. In trade-related headlines, Japan's top trade negotiator Akazawa and the US engaged in in-depth discussions and explored the possibility of a trade agreement. Traders now look ahead to the BoJ announcement on Tuesday. Hang Seng and Shanghai Comp were choppy whilst weekend reports suggested the US-China trade agreement in London did not resolve export restrictions linked to national security, according to Reuters. Chinese markets saw no notable reaction to Chinese activity data which saw Retail Sales surpass the most optimistic of analysts' forecasts, whilst Industrial Output slightly missed expectations.

Chinese Economy - China's NBS says China economy remains steady; economy still encounters numerous unstable, uncertain factors; China must coordinate domestic economic work and trade struggle. (Newswires)

Chinese Data - Chinese Retail Sales YY (May) 6.4% vs. Exp. 5.0% (Prev. 5.1%); Industrial Output YY (May) 5.8% vs. Exp. 5.9% (Prev. 6.1%)

EUROPEAN CLOSES

CLOSES: DAX: -1.14 % at 23,499, FTSE 100: -0.39 % at 8,851, CAC 40: -1.04 % at 7,685, Euro Stoxx 50: -1.31 % at 5,291, AEX: -0.84 % at 923, IBEX 35: -1.31 % at 13,904, FTSE MIB: -1.28 % at 39,439, SMI: -1.60 % at 12,135, PSI: -0.69 % at 7,476

SECTORS: Energy 0.93%, Utilities -0.02%, Consumer Stpl -0.48%, Industrials -0.65%, Telecoms -0.77%, Healthcare -0.93%, Materials -1.03%, Financials -1.14%, Consumer Disc -1.72%, IT -1.83% 

FTSE 100

BT (BT/ LN) - CEO Kirby said existing plans for 40k job cuts and the removal of around GBP 3bln in costs by the end of the decade do not "reflect the full potential of AI". (FT)

UK Housing - Rightmove House Prices MM (Jun) -0.3% (Prev. 0.6%); Y/Y 0.8% (Prev. 1.2%). (Newswires); "It appears that we're now seeing the decade-high level of homes for sale, and the recent stamp duty increases in England, have a delayed impact on new sellers' pricing", says a Rightmove expert.

OTHER UK COMPANIES

Autos - Jaguar Land Rover lowered its fiscal 2026 EBIT forecast to 5-7% (prev. guided 10%), citing uncertainty. (Newswires)

Metro Bank (MTRO LN) - Sky News reports that the Metro Bank received a takeover approach from private equity firm Pollen Street Capital. (Sky News)

Spectris (SXS LN) - Co. said it received a prelim proposal from KKR for a possible cash offer, but rejected the proposal. KKR must announce their intention to make an offer by 11 July 2025. (Newswires)

BROKER MOVES

Aviva (AV/ LN) downgraded to Equal Weight from Overweight at Barclays

DAX

DHL (DHL GY) - DHL Express Canada plans to shut down all operations nationwide on June 19. (Newswires)

Qiagen (QIA GY) - QIAGEN to create a multimodal panel using next-generation sequencing (NGS) technology for detecting clinically relevant gene alterations in hematological malignancies. Companion diagnostic to identify key disease-causing mutations in patients with MPNs, with an initial focus on mutant CALR the second most common driver of MPNs. In partnership with Incyte (INCY). (Newswires)

OTHER GERMAN COMPANIES

BROKER MOVES

CAC

Airbus (AIR FP) - Co. is in discussions to sell around six more A350 jets to EgyptAir, according to Reuters citing sources. Elsewhere, Co. nears deal to sell A220 jets to LOT Poland, according to Reuters sources. (Reuters)

Kering (KER FP) / Renault (RNO FP) - Renault CEO, De Meo, is to step down, effective July 15, 2025. Le Figaro writes that he is to become the CEO of Kering with Henri Pinault deciding to split the roles of Chairman and CEO. Kering has declined to comment on this report. (Le Figaro / Newswires)

Renault (RNO FP) - Nissan (7201 JT) CEO says the Co. plans to reduce its stake in Renault, according to Nikkei. (Nikkei) Nissan currently holds a 15% stake in Renault.

Sanofi (SAN FP) - Dupixent demonstrated superiority over Xolair (omalizumab) in chronic rhinosinusitis with nasal polyps in patients with coexisting asthma in first-ever presented phase 4 head-to-head respiratory study. (Sanofi)

TotalEnergies (TTE FP) - Executive said the Co. is deploying 30% of Capex into building integrated power business. Aims to raise electricity to 20% of co. portfolio by 2030. (Newswires)

OTHER FRENCH COMPANIES

bioMérieux (BIM FP) - Acquired Day Zero Diagnostics for USD 25mln. (Newswires)

BROKER MOVES

PAN EUROPE

Banca Popolare di Sondrio (BPSO IM) - Bper Banca (BPE IM) promotes voluntary exchange offer on BP Sondrio shares. (Newswires)

DSM-Firmenich (DSFIR NA) - Co. and Honeywell (HON) have reached a settlement to resolve their disputes related to Honeywell Spectra; terms not disclosed. (Newswires)

Energy Names - Israel and Iran launched fresh attacks on each other's major cities, with exchanges of fire continuing into a third day on Sunday, according to multiple media outlets. Israeli drones on Saturday targeted the South Pars Gas Refinery and the Fajr Jam Gas Refinery, according to Tasnim News Agency. WTI and Brent gapped higher at the open by around 4%, but has since pared; currently +0.8%

Mediobanca (MB IM) / Banca Generali (BGN IM) - Mediobanca postpones investor vote on Banca Generali bid to 25 September 2025. (Newswires)

Telefonica (TEF SM) - Co. said it has reached an agreement to sell its Ecuador unit for USD 380mln. (Newswires)

BROKER MOVES

SMI

Roche (ROG SW) - Decides to proceed with Phase 3 development of prasinezumab, for early-stage Parkinson’s disease. Elsewhere, provides safety update on Elevidys gene therapy for Duchenne muscular dystrophy in non-ambulatory patients. After a thorough clinical review, the benefit-risk for the use of Elevidys in non-ambulatory patients with Duchenne has been re-assessed, following two cases of fatal acute liver failure. The benefit-risk of Elevidys treatment in ambulatory Duchenne patients remains positive and treatment guidance is unchanged. (Newswires / Roche)

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Novo Nordisk (NOVOB DC) - Cantor Fitzgerald, citing a 12-week result abstract, said Eli Lilly's (LLY) experimental obesity drug, eloralintide, helped some patients lose 11.5% of their body weight at 12 weeks in an early-stage study. Analysts added that expectations for this drug were low, while adding that the data was strong in terms of weight loss and safety. (Reuters)

BROKER MOVES

KONE (KNEVB FH) downgraded to Hold from Buy at Danske Bank

Konecranes (KCR FH) downgraded to Hold from Buy at Danske Bank

US

CLOSES: SPX -1.13% at 5,977, NDX -1.29% at 21,631, DJI -1.79% at 42,198, RUT -1.85% at 2,101

SECTORS: Financials -2.06%, Technology -1.5%, Materials -1.2%, Consumer Staples -1.15%, Real Estate -0.98%, Industrials -0.87%, Communication Services -0.86%, Consumer Discretionary -0.74%, Utilities -0.62%, Health -0.54%, Energy +1.72%.

16 Jun 2025 - 06:55- Geopolitical- Source: Newsquawk