Newsquawk Daily European Equity Opening News - 19th November 2025

ASIA

APAC stocks were choppy, cautious, and eventually traded subdued, as the region held a tentative stance ahead of the FOMC minutes and NVIDIA earnings. ASX 200 printed on either side of the unchanged mark with limited news flow in the region. Wage Price Index data came in as expected, producing little market reaction. The index found support from gains in gold miners after the metal bounced from support around USD 4,000/oz. Nikkei 225 experienced choppy trade, swinging between gains and losses. Following modest opening gains, the index quickly turned negative within the first 30 minutes as JGB yields continued to rise, while Japan navigated ongoing tensions with China and PM Takaichi's fiscal package. Nikkei thereafter moved to session highs above 49,000 before trimming those gains once again. KOSPI saw a sharp acceleration in losses shortly after the open (-2.2% at one point), driven by declines in its heavily-exposed tech sector, with Samsung Electronics falling some 3% at one point. KOSPI thereafter trimmed the bulk of its losses but remained negative. Hang Seng and Shanghai Comp opened with modest, cautious gains, in contrast to the more negative tone in Japan and South Korea, although the former later conformed to the global tech losses, whilst the latter gave up initial modest gains.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -1.85% at 5,536, Dax 40 -1.77% at 23,173, FTSE 100 -1.27% at 9,552, CAC 40 -1.86% at 7,968, FTSE MIB -2.12% at 42,839, IBEX 35 -2.14% at 15,827, PSI -1.55% at 8,119, SMI -1.00% at 12,472, AEX -1.53% at 931.

SECTORS: Healthcare -0.64%, Utilities -0.80%, Consumer Stpl -0.96%, Telecoms -1.39%, IT -1.48%, Energy -1.54%, Materials -2.12%, Industrials -2.15%, Consumer Disc -2.31%, Financials -2.31%

FTSE 100

UK Stocks - UK's Chancellor Reeves mulls shielding small businesses from tax rises, according to The Times. (Times)

OTHER UK COMPANIES

British Steel - The UK government are looking to bankers for the sale of British Steel. (FT)

BROKER MOVES

DAX

SAP (SAP GY) - Announced a new collaboration with France's AI sector, which includes new and expanded partnerships with Bleu, Capgemini, and Mistral AI. (PR Newswire)

Volkswagen (VOW3 GY) - Brand CEO, when asked about the Nexperia chip shortage, says "our supply is secured". In other news, the co. is set to slash the costs of developing electric vehicles by a third, according to Bloomberg citing sources. (Newswires/Bloomberg)

OTHER GERMAN COMPANIES

BROKER MOVES

CAC

Airbus (AIR FP) - FlyDubai chairman says the deal to purchase 150 Airbus jets is worth USD 24bln. (X)

Amundi (AMUN FP) - Co. has purchased a 4.64% stake in ICG, with the intention to acquire a total economic interest of 9.9%. (Newswires)

Kering (KER FP) - Co. CEO says they must downside its retail store network and reduce its reliance on Gucci to return to growth, according to Reuters citing a memo. (Reuters)

OTHER FRENCH COMPANIES

Interparfums (ITP FP) - Interparfums provided sees FY26 EPS at 4.85 (exp. 5.12) and revenue at USD 1.48bln (exp. 1.47bln). CEO said the firm will focus on consolidation in 2026 amid macro pressures and inventory destocking, with FX gains helping offset the expiry of the Boucheron licence; he added that tariffs and brand investments, including Off-White and Longchamp ahead of 2027 distribution, will weigh on near-term results but support longer-term growth. (Interparfums)

Sodexo (SW FP)- Thierry Delaporte is to lead the co.'s North America department in 2026 as current head Sarosh Mistry is to retire on December 31st, 2025. (Sodexo)

Vinci (DG FP) - Autoroutes traffic +1.9% and airport passenger traffic +3.9% in October. (Vinci)

BROKER MOVES

PAN EUROPE

AB InBev (ABI BB) - Co. reportedly in talks to buy BeatBox, according to WSJ citing sources; deal would be valued at USD 700mln. (WSJ)

Arcadis (ARCAD NA) - Co. has been awarded a five-year collaboration with Shell Global Solutions to deliver integrated workplace architecture and design services across Shell's global real estate portfolio. (Arcadis)

Europe Rare Earths - Vacuumschmelze warned Europe risks severe rare-earth supply disruptions without stronger action to reduce dependence on China. The firm has opened a rare-earth magnet plant in South Carolina, with its CEO saying US reshoring efforts are far more urgent than those by European governments and companies.

Mediobanca (MB IM) - Co. has completed the issuance of its 6-year EUR 750mln covered bond. (Mediobanca)

Signify (LIGHT NA) - The co. has chosen Verkada to modernise security and drive operational intelligence. (PR Newswire)

Stellantis (STLAM IM/ STLAP FP) - Detroit three CEO's (F, GM, STLAM IM) and a Tesla (TSLA) Exec have been called to testify at a January 14th senate commerce hearing on auto regulations and pricing. In other news, Stellantis will adopt Tesla’s NACS system from 2026, giving its EVs access to over 28,000 Superchargers. (Newswires)

BROKER MOVES

Enel (ENEL IM) downgraded to Underperform from Sector Perform at RBC

Endesa (ELE SM) downgraded to Underperform from Sector Perform at RBC

SMI

OTHER SWISS COMPANIES

Roche (ROG SW) - Co.'s subcutaneous lunsumio has been approved by the European Commission for relapsed or refractory follicular lymphoma. (Roche)

Swiss Prime Site (SPSN SW) - The co.'s solutions investment fund has passed its FY2024/25 targets and are preparing for a listing on December 9th, 2025. (Newswires)

BROKER MOVES

ams-OSRAN (AMS NA) downgraded to Reduce from Hold at Kepler Cheuvreux

Sonovo (SOON SW) initiated with Outperform at RBC

SCANDINAVIA

Genmab (GMAB DC) - Co.'s Epkinly in combination with rituximad and lenalidomide has been approved by the US FDA for the treatment of relapsed or refractory follicular lymphoma. In other news, the co. has priced USD 1.5bln of private offering of senior secured notes due 2032 and USD 1.0bln of senior unsecured notes due 2033. To add, the co. announced the completion of the syndication of new senior secured term loan facility. (Genmab)

Norsk Hydro (NHY NO) - The co. has signed a new USD 1.6bln and USD 800mln revolving multi-currency credit facilities. (Norsk Hydro)

BROKER MOVES

Demant (DEMANT DC) initiated with Sector Perform at RBC

GN Store Nord (GN DC) initiated with Sector Perform at RBC

US

CLOSES: SPX -0.83% at 6,617, NDX -1.20% at 24,503, DJI -1.05% at 46,103, RUT +0.21% at 2,346.

SECTORS: Energy +0.61%, Health +0.54%, Real Estate +0.36%, Consumer Staples +0.15%, Communication Services +0.11%, Materials +0.01%, Financials -0.19%, Utilities -0.43%, Industrials -0.48%, Technology -1.68%, Consumer Discretionary -2.50%.

AI Stocks - US President Trump posted to Truth Social that AI investment is making the US economy the “hottest” globally, but state overregulation risks weakening growth, with some states seeking to embed DEI ideology into AI models and creating “woke AI.” He urged a single Federal standard to replace varied state rules while protecting children and avoiding censorship. (Truth Social)

Meta Platforms (META) - A judge ruled Meta need not unwind its Instagram and WhatsApp acquisitions, finding it isn’t a monopoly because its market share is declining and online competition is expanding, Bloomberg reports. Judge said Meta increasingly resembles its rivals, with an even more crowded field expected in the AI era. (Bloomberg)

TSMC (TSM), Intel (INTC) - Reports claim former TSMC senior vice president Luo Wei-jen retired in July, joined Intel in October, and may have taken confidential 2nm, A16 and A14 process materials prepared by staff, according to MoneyUDN. TSMC is gathering evidence; Taiwan’s prosecutors are investigating possible National Security or trade-secret violations, while Intel has not commented. (MoneyUDN)

US-Saudi Arabia - Tesla (TSLA) CEO Musk and NVIDIA (NVDA) CEO Huang will discuss AI and technology at a US-Saudi investment forum in Washington after Crown Prince Mohammed bin Salman met President Trump, on Wednesday; the event will also be attended by CEOs from Chevron (CVX), Palantir (PLTR), Aramco, Qualcomm (QCOM), Cisco (CSCO), Adobe (ADBE), General Dynamics (GD), Pfizer (PFE), Blackstone (BX), Boeing (BA), IBM (IBM), Alphabet (GOOG), Salesforce (CRM), Supermicro (SMCI), Lockheed Martin (LMT), State Street (STT) and Parsons (PSN). (Newswires)

19 Nov 2025 - 06:56- Research Sheet- Source: Newsquawk