Newsquawk Daily European Equity Opening News - 1st October 2025

ASIA

APAC stocks traded mixed following modest gains on Wall Street, with focus on the length of the US government shutdown after the Senate rejected the House-passed CR, whilst Chinese participants were away for Golden Week. ASX 200 fluctuated between small gains and losses, supported by gold miners at the top of the index, while Energy and Tech lagged. BHP came under pressure after China banned its iron ore cargoes amid a pricing dispute. Nikkei 225 underperformed as the regional laggard despite a relatively mixed BoJ Tankan Survey. KOSPI was modestly firmer after above-forecast trade data, whilst reports suggested the US and South Korea agreed to establish a visa desk for Korean firms investing in the US. The two sides also issued a joint statement on foreign exchange policy, though it did not mention a bilateral currency swap or South Korea’s state-run pension fund. Nifty 50 traded flat and was little changed as the RBI kept its repo rate unchanged at 5.50% as expected in a unanimous decision, maintaining a neutral policy stance. Hang Seng and Shanghai Comp were shut for Golden Week and will return next Thursday.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +0.36% at 5,527, Dax 40 +0.57% at 23,880, FTSE 100 +0.54% at 9,350, CAC 40 +0.19% at 7,896, FTSE MIB +0.40% at 42,725, IBEX 35 +1.08% at 15,482, PSI -0.30% at 7,958, SMI +0.73% at 12,094, AEX +0.11% at 943.

SECTORS: Industrials 0.84%, Healthcare 0.84%, Consumer Stpl 0.83%, Telecoms 0.81%, IT 0.80%, Utilities 0.63%, Financials 0.35%, Materials 0.13%, Consumer Disc -0.14%, Energy -2.02%

FTSE 100

Glencore (GLEN LN) - Fire reported at the Lomas Bayas copper mine in Chile. (Newswires)

Rio Tinto (RIO LN) - Potential retirement of the Gladstone facility. No decision has been taken yet. (Newswires)

Rolls-Royce (RR/ LN) - Boeing (BA) reportedly held early talks with the Co. regarding a potential engine for the successor to the 737 Max, via FT citing sources. (FT)

Standard Chartered (STAN LN) - Singapore court blocks foreign liquidator's bid to sue Co. and BSI Bank over links with Malaysian sovereign wealth fund 1MDB. (Newswires)

UK Firms - Chancellor Reeves said she cannot set out policies without explaining where the money will come from, adding that child poverty will be reduced in this Parliament and details will be laid out in the budget. Additionally, the Guardian reports that she will be lifting the two-child benefit cap. (Newswires/Guardian)

OTHER UK COMPANIES

Deliveroo (ROO LN) - Co. and DoorDash (DASH) "are pleased to announce that the Court has today issued the Court Order sanctioning the Scheme under section 899 of the Companies Act.", with reference to the acquisition of Deliveroo by DoorDash. (Deliveroo)

BROKER MOVES

Intercontinental Hotels (IHG LN) upgraded to Equal Weight from Underweight at Morgan Stanley.

DAX

Adidas (ADS GY)/Puma (PUM GY) - Nike earnings (see US section), +4% in after-hours trade. Adidas +1.3% in the pre-market.

OTHER GERMAN COMPANIES

BROKER MOVES

CAC

Accor (AC FP) - Concluded the 2nd tranche of its buyback. (Newswires)

Sanofi (SAN FP) - Co. says it is confident that it is compliant with the relevant rules and regulations, and will cooperate fully with European commission. (Newswires) In the context of the Co. confirming it was being investigated by European regulators over possible anti-competitive behaviour

TotalEnergies (TTE FP) - Co. has agreed to divest its non-operated interest in West-Ekofisk, Albuskjell and Temmeliten Gamma fields. (Newswires)

OTHER FRENCH COMPANIES

BROKER MOVES

PAN EUROPE

ARCADIS (ARCAD NA) - Announces a EUR 170mln share buyback programme. (Newswires)

Chip Names - Taiwan rejected a US request to produce half of its chips locally, according to Bloomberg. (Bloomberg)

Pharmaceuticals - US President Trump said will tariff pharma companies an extra 5-8% if no deals, and drug pricing will have a huge impact on mid-term elections. (Newswires)

Sabadell (SAB SM) - Co. continues to advise its shareholders not to accept the BBVA (BBVA SM) bid and price offered is significantly lower than value of Banco Sabadell's project. However, Martinez has voted in favour of the bid, breaking from the board recommendation; Martinez controls 3.86% of Sabadell. Elsewhere, the Co. has raised its 2025 shareholder remuneration target to EUR 1.45bln; approves distribution of second interim dividend amounting to EUR 0.07, payable in cash on Dec 29th. (Newswires)

BROKER MOVES

SMI

Novartis (NOVN SW) - FDA approves Rhapsido for chronic spontaneous urticaria in adults unresponsive to H1 antihistamines, the first FDA-approved pill treatment for CSU without injections or lab monitoring. (Newswires)

Sika (SIKA SW) - Co. acquires mortar company Marlon Tormortel in Denmark. (Newswires)

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Novo Nordisk (NOVOB DC) - Novo Nordisk investors are pinning hopes on an experimental pill for mild Alzheimer’s disease after a weak quarter for the company, Bloomberg reports. Late-stage trial results, expected before year-end, use semaglutide, the active ingredient in Ozempic and Wegovy, aiming to spark a revival in the Danish drugmaker’s performance. (Bloomberg)

Vestas (VWS DC) - Secured five orders for a total of 346MW. (Newswires)

BROKER MOVES

US

CLOSES: SPX +0.41% at 6,688, NDX +0.28% at 24,680, DJI +0.18% at 46,398, RUT +0.05% at 2,436

SECTORS: Consumer Discretionary +2.25%, Communication Services +1.12%, Industrials +1.09%, Financials +1.00%, Real Estate +0.64%, Energy +0.60%, Technology +0.55%, Health +0.36%, Materials +0.23%, Consumer Staples +0.09%, Utilities -0.16%

Berkshire Hathaway (BRK.B) - Co. is reportedly in talks to buy Occidental Petroleum’s (OXY) chemical unit for USD 10bln, via WSJ. (WSJ)

BlackRock (BLK) - Co's GIP is said to be nearing USD 38bln takeover of utility AES (AES), according to FT sources. (FT)

Eli Lilly (LLY) - US President Trump says Eli Lilly (LLY) has been fantastic. (Newswires)

Lithium Americas (LAC) - US Energy Secretary said the US government is taking an equity stake in Lithium Americas (LAC), via Bloomberg TV; US DoE to take a 5% stake in Lithium Americas (LAC), according to Reuters sources. (Reuters)

Morgan Stanley (MS) - Fed to ease Morgan Stanley's (MS) capital requirements following a review, according to Bloomberg. (Bloomberg)

Netflix (NFLX) - Elon Musk cancels Netflix account. (Newswires)

Nike Inc (NKE) - Q1 2026 (USD): EPS 0.49 (exp. 0.27), Revenue 11.72bln (exp. 11.00bln). Gross margin decreased 320bps to 42.2%, primarily due to lower average selling price, reflecting higher discounts and channel mix, as well as higher tariffs in North America. North America revenue 5.02bln (exp. 4.55bln). Greater China revenue 1.51bln (exp. 1.47bln). Inventories 8.1bln, -2% Y/Y. CEO reports stronger-than-expected sales engagement following return to selling on Amazon (AMZN). CEO notes ongoing structural challenges in China market, with continued underperformance in sell-through rates. CFO said tariffs will cost approximately USD 1.5bln, higher than the prior estimate of around USD 1bln, and expects Q2 revenue to fall by low single digits versus estimates of a 3.1% decline, according to Reuters. Shares rose 4.5% after hours. (Newswires)

NVIDIA (NVDA) - USTR Greer, when asked whether the Trump administration has discussed taking a stake in NVIDIA (NVDA), said US President Trump would love a stake in every company that is doing well, according to Reuters. (Reuters)

Pfizer (PFE) - Confirmed it reaches agreement with the US government to lower drug costs for American patients; large majority of primary care treatments, and some select specialty brands will be offered at savings as high as 85% and 50% on average. (Newswires)

Target (TGT) - Upside in Target (TGT) on Tuesday attributed to unconfirmed speculation on potential PE takeover target, via account on X citing Fox Business - unconfirmed. (Newswires)

01 Oct 2025 - 06:57- ForexRumour- Source: Newsquawk