Newsquawk Daily European Equity Opening News - 18th September 2025

ASIA

APAC stocks traded mixed following the choppy reaction to the FOMC meeting, where the Fed cut rates by 25bps, as expected, and just about signalled two further rate cuts this year, although Fed Chair Powell provided some hawkish-leaning comments during the presser. ASX 200 declined with underperformance in energy as Santos shares suffered a double-digit percentage drop after the XRG consortium abandoned its USD 18.7bln takeover bid, while sentiment was also not helped by a surprise contraction in employment data. Nikkei 225 rallied back above the 45k level and printed a fresh all-time high amid currency weakness and with the index unfazed by disappointing machinery orders, while the BoJ kick-started its 2-day policy meeting where it is widely anticipated to remain on pause. Hang Seng and Shanghai Comp were mixed with continued tech strength seen after China's CAC reportedly informed firms such as Alibaba and ByteDance to terminate their testing and orders of NVIDIA's RTX Pro 6000D, in order to focus on China's domestic semiconductor industry, while Huawei unveiled its new AI chip tech to rival the AI darling. Nonetheless, the Hong Kong benchmark faded early gains despite the HKMA cutting rates in lockstep with the Fed, with a pullback seen after it briefly breached the 27,000 level for the first time in four years.

Chips - Huawei unveils new AI chip tech to rival NVIDIA (NVDA), according to Bloomberg. (Bloomberg)

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +0.00% at 5,372, Dax 40 +0.08% at 23,347, FTSE 100 +0.14% at 9,208, CAC 40 -0.40% at 7,787, FTSE MIB -1.29% at 41,955, IBEX 35 -0.24% at 15,127, PSI -0.10% at 7,730, SMI -0.17% at 11,999, AEX +0.36% at 915.

SECTORS: IT 1.44%, Healthcare 0.61%, Consumer Disc 0.20%, Consumer Stpl 0.12%, Financials -0.05%, Telecoms -0.13%, Utilities -0.16%, Industrials -0.63%, Materials -0.72%, Energy -1.03%

FTSE 100

Anglo American (AAL LN) - Brazil’s antitrust regulator CADE has shelved its probe into Anglo American’s plan to sell its nickel assets in Brazil to MMG for up to USD 500mln, Folha reported. The investigation had followed a complaint from rival CoreX Holding. Separately, Anglo is cutting around 300 jobs at some Australian coking coal mines, focusing on its Grosvenor mine in Queensland, to maintain long-term sustainability; production is expected to remain unaffected. (Newswires)

Ex-Dividends - Centrica (CNA LN) and Unite (UTG LN) will trade without entitlement to their latest dividend pay-out. (Newswires)

UK Defence - UK talks to join EU defence fund reportedly stalled over participation fee, according to FT. (FT)

OTHER UK COMPANIES

Spire Healthcare (SPI LN) - Co. is under pressure from activist investors, who are pushing for Spire Healthcare to put itself up for sale; investors believe Spire is "significantly undervalued", Sky News writes. (Sky News)

BROKER MOVES

DAX

Deutsche Bank (DBK GY) / DWS (DWS GY) - Deutsche Bank's asset manager DWS kicks off sale of its data centre business, according to FT. DWS hopes NorthC could be valued at more than EUR 2bn. (FT)

Volkswagen (VOW3 GY) - Volkswagen made its “last, best” offer to UAW-represented hourly workers at its Tennessee plant, proposing an immediate 5% pay increase and annual raises of 3-6% over four years, WSJ reports. The top hourly wage would reach nearly USD 80,000 in 2026, excluding overtime and profit-sharing, with total wages rising about 20% over the contract term. (WSJ)

OTHER GERMAN COMPANIES

BROKER MOVES

CAC

EssilorLuxottica (EL FP) / Meta Platforms (META) - Meta launched its first consumer-ready smart glasses with a built-in display, priced at USD 799 and available September 30th, alongside Oakley-branded Vanguard sports glasses at USD 499 (October 21st). Analysts see limited near-term sales but view the launch as groundwork for Meta’s 2027 Orion glasses, Reuters reports. (Reuters)

Hermes (RMS FP) - A US Judge dismissed a case filed against the Co., which accused the French luxury maker for violating US antitrust laws. (Newswires)

Kering (KER FP) - Co. announces the departure of Gucci CEO Stefano Cantino; appointed Francesca Bellettini as the new President and CEO of Gucci. (Newswires)

Thales (HO FP) - EIB backs Thales with EUR 450mln loan. Programme is set to run until end-2027. (Newswires)

OTHER FRENCH COMPANIES

Exor (EXO NA) - H1 (EUR): NAV 36bln, +1% Y/Y. CEO expects to receive around EUR 1.5bln of cash proceeds in 2026, with the sale of the Iveco Defence business to Leonardo. Notes that our conviction in Ferrari (RACE IM) remains absolute and "we" are proud to be a committed shareholder. (Newswires)

Euronext (ENX FP) - Co. is reportedly considering expanding trading hours for agricultural futures, notable to capture more US flows, according to Reuters citing sources

Worldline Holdings (WLN FP) - ECB reportedly offloads over EUR 150mln of Worldline Holdings bonds, amid fraud accusations, according to FT. (FT)

BROKER MOVES

PAN EUROPE

UCB (UCB BB) - Successful first-in-patient trial for Galvokimig in moderate-to-severe atopic dermatitis. Initiation of phase 2b trial is expected by end of 2025. (UCB)

Wolters Kluwer (WKL NA) - Co. saw a slight improvement in organic growth in months of July and August. Co. reiterated guidance. Is to accelerate the execution of its existing 2025 share buyback program. (Newswires)

BROKER MOVES

SMI

Roche (ROG SW) - Co. entered in a definitive merger agreement to acquire 89Bio for USD 14.50/shr, which totals USD 2.4bln in equity value. Deal is exp. to close in Q4'25. (Newswires)

UBS (UBSG SW) - Activist investor Cevian says capital plans make a Swiss headquarters "not viable" for the bank, according to the FT. (FT)

OTHER SWISS COMPANIES

Galderma (GALD SW) - Launches skincare segment with Cetaphil's new skin activator. (Newswires)

SIG (SIGN SW) - Cuts FY25 EBIT Margin 240-24.5% (prev. guided 24.5-25.5%); curs FY25 rev. "slightly negative to flat" (prev. guided +3-5% Y/Y). Co. pauses dividend. To divest smaller non-aseptic businesses. (Newswires)

BROKER MOVES

SCANDINAVIA

EQT (EQT SS) - Co. is mulling a "more than" USD 1bln US IPO of waste firm Reworld, via Bloomberg. (Bloomberg)

Equinor (EQNR NO) - A worker died in an accident in connection with a lifting operation at the Co's Mongstad refinery. (Newswires)

Novo Nordisk (NOVOB DC) - Novo Nordisk’s oral semaglutide 25 mg (Wegovy® in a pill) delivered 16.6% weight loss in people with obesity in a newly published study. Oral semaglutide 25 mg (the once-daily pill formulation of Wegovy®) achieved significant weight loss, with one in three study participants losing 20% or more body weight. Oral semaglutide 25 mg also demonstrated improvements in the ability to perform everyday physical activities such as bending, standing, walking, being physically active, and improvements in cardiovascular risk factors. Safety and tolerability profile consistent with injectable Wegovy. The FDA review of this NDA is anticipated to be completed by the end of this year.

Kone (KNEBV FH) - Co. reportedly considering potential bid for TK Elevator, according to Bloomberg

BROKER MOVES

US

CLOSES: SPX -0.10% at 6,600, NDX -0.21% at 24,224, DJI +0.57% at 46,018, RUT +0.18% at 2,407

SECTORS: Technology -0.70%, Industrials -0.45%, Consumer Discretionary -0.31%, Real Estate -0.06%, Communication Services -0.06%, Health +0.24%, Energy +0.28%, Utilities +0.29%, Materials +0.36%, Consumer Staples +0.90%, Financials +0.96%.

Apple (AAPL) - Co. reportedly explores possible test production of foldable iPhones in Taiwan, according to Nikkei citing sources; sources say AAPL is aiming for 10% increase in total phone shipments in 2026, believes folding model would help achieve that goal. (Nikkei)

Boeing (BA), Honeywell (HON) - Families of four victims from the June Air India Flight 171 crash that killed 260 people have sued Boeing and Honeywell in Delaware, alleging faulty fuel cutoff switches caused the disaster. The FAA and preliminary Indian probe did not attribute the crash to the switches, but plaintiffs claim design defects made them vulnerable.

Crypto - US SEC votes approve generic listing standards for new crypto ETFs which clears way for flood of new ETFs. (Newswires)

Google (GOOGL) - China drops Google antitrust probe during US trade talks, according to FT. (FT)

Nucor (NUE) - Nucor cut its Q3 profit guidance, and now expects EPS between 2.05-2.15 (exp. 2.53), citing lower profitability across all three operating segments versus Q2. The steelmaker is due to report on October 27th.

18 Sep 2025 - 06:59- Research Sheet- Source: Newsquawk