Newsquawk Daily European Equity Opening News - 23rd June 2025

ASIA

APAC stocks traded lower with sentiment hit after weekend developments which saw the US carry out missile strikes against Iranian nuclear facilities in a surprise move. ASX 200 declined 0.8% in tandem with broader sentiment, with participants overlooking the improvement in Flash PMIs. Nikkei 225 fell 0.5%, though losses were somewhat cushioned by a weaker JPY on account of the stronger USD, with regional Flash PMIs largely shrugged off. Hang Seng and Shanghai Comp conformed to broader regional losses, with the focus largely on geopolitics. Chinese sentiment was further hampered by Friday's WSJ report that the US is reportedly preparing action targeting allies' chip plants in China.

EUROPEAN CLOSES

CLOSES: DAX: +1.17 % at 23,327, FTSE 100: -0.20 % at 8,775, CAC 40: +0.48 % at 7,590, Euro Stoxx 50: +0.75 % at 5,236, AEX: -0.09 % at 909, IBEX 35: +0.73 % at 13,845, FTSE MIB: +0.74 % at 39,231, SMI: -0.30 % at 11,858, PSI: +0.71 % at 7,445

SECTORS: Financials 0.60%, Utilities 0.43%, Consumer Disc 0.40%, Industrials 0.22%, IT 0.20%, Materials 0.19%, Telecoms 0.17%, Consumer Stpl -0.43%, Healthcare -0.90%, Energy -0.94%

FTSE 100

BP Plc (BP/ LN) - Former Centrica CEO Sam Laidlaw is among candidates considered to chair BP, succeeding Helge Lund amid the oil major’s crisis, Sky News reports. Ex-BHP chair Ken MacKenzie has also been approached, Sky said. (Sky News)

Glencore (GLEN LN) - Congo is considering extending cobalt export ban as it weighs quotas, via Reuters citing sources. (Reuters)

Rolls Royce (RR/ LN) - UK lobbies South Korea to switch to Rolls-Royce for new fighter jet programme according to FT, from rival GE Aerospace (GE). Officials have been lobbying for co-production with a foreign partner as an intermediary step, sources added. (FT)

OTHER UK COMPANIES

BROKER MOVES

DAX

OTHER GERMAN COMPANIES

Hapag Lloyd (HLAG GY) - Co. says it is still sailing through the Strait of Hormuz, but the situation can always change. (Newswires)

BROKER MOVES

Munich Re (MUV2 GY) downgraded to Underweight from Equal Weight at Morgan Stanley

CAC

Dassault Aviation (AM FP) - Announces support from French Army Forces Ministry for development of its Vortex Spaceplane Demonstrator. (Newswires)

Sanofi (SAN FP) - Sarclisa recommended for EU approval by the CHMP to treat transplant-eligible newly diagnosed multiple myeloma. A final decision is expected in the coming months. (Sanofi)

OTHER FRENCH COMPANIES

Eurazeo (RF FP) - Announced acquisition of a majority stake in SMP Energies. (Newswires)

BROKER MOVES

PAN EUROPE

Geopolitics / Oil / Travel - US President Trump confirmed the launch of “Operation Midnight Hammer”, which involved targeted strikes on Iranʼs nuclear facilities at Fordow, Natanz, and Isfahan. Market Pricing: WTI gapped higher by 6% at the open before mostly trimming that upside, potentially on hopes that the US strike was a "one and done" situation.

Shipping names - The Iranian parliament has approved the closure of the Strait of Hormuz after the US launched strikes against the country’s nuclear facilities. Iran’s security body will make the final decision on whether to proceed with the plan, state television reported. Market Risks: Shipping disruption risk remains elevated, with insurers likely to re-rate Gulf transits if threats escalate. Tanker rerouting or delays could impact refinery margins and downstream inventories, particularly in Asia.

Defence Spending - UK and its NATO allies have agreed to increase spending on defence and related areas to 5% of GDP by 2035, two diplomatic sources have told Sky News. (Sky News)

Eni (ENI IM) - Signed a EUR 2bln agreement for Ares Management alternative credit funds to enter Plenitude's share capital. To sell 20% stake in Plenitude to Ares for approx. EUR 2bln. (Newswires)

Heineken (HEI GY) - Co. said it had lost "operational control" and withdrew some staff from its facilities in Eastern DR Congo amid fighting between rebels and the army. (Newswires)

Luxury / Prada (1913 HK) - Chief Executive D'Attis will leave the Co. at the end of June; will be overtaken by CEO Guerra. (Newswires)

Prosus (PRX NA) - FY (USD): Revenue 6.2bln (exp. 6.4bln). Increases dividend by 100% to EUR 0.20/shr. Progresses with its purchase of Just Eat Takeaway (JET LN). (Newswires)

Telecom Italia (TIT IM) - Golden Power approval for the amendment of the corporate purpose of the bylaws received. Has notified the decision not to exercise its extraordinary powers. (Newswires)

UniCredit (UCG IM) - Completed internationalisation of Life Bancassurance business in Italy. Impact of transaction Q2 CET1 Ratio exp. to be around -25bps. Expects transactions to contribute to EUR 0.4bln annual growth in insurance annual revenues by 2027 vs FY24. (Newswires)

BROKER MOVES

UCB (UCB BB) upgraded to Overweight from Equal Weight at Morgan Stanley

SMI

Holcim (HOLN SW) - Completed spin-off of North American business. (Newswires)

Roche (ROG SW) - Early data suggest Roche’s NXT007 may have the potential to provide haemostatic normalisation in people with haemophilia A. Positive phase I/II data presented at the 2025 International Society on Thrombosis and Haemostasis (ISTH) Congress show NXT007 achieved no bleeds requiring treatment in the highest dose groups in people with haemophilia A1. Three phase III clinical studies on NXT007, a next-generation bispecific antibody, set to begin in 2026. (Roche)

Novartis (NOVN SW) - Novartis announces expiration of HSR waiting period of Regulus Therapeutics tender offer. (Novartis)

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Maersk (MAERSKB DC) - Co. said "we will continuously monitor the security risk to our specific vessels in the region and are ready to take operational actions as needed".

Novo Nordisk (NOVOB DC) - Mim8 prophylaxis treatment shown to be well-tolerated when switching from emicizumab in people with haemophilia A in new phase 3 data presented at the ISTH 2025 Congress. Elsewhere, Novo Nordisk says 23 percent risk reduction in A1C adjusted 3 point MACE was observed for Ozempic injection compared to Dulaglutide. In other news, Novo Nordisk’s obesity drug CagriSema showed significant weight loss in studies, with patients sticking to lower doses losing more on average despite only about 75% reaching the highest dose. Researchers say this dosing flexibility reflects real-world use, highlighting a group that responds well to the medicine. (Newswires / Bloomberg)

BROKER MOVES

US

CLOSES: SPX -0.22% at 5,968, NDX -0.43% at 21,626, DJI +0.08% at 42,207, RUT -0.17% at 2,109

SECTORS: Communication Services -1.83%, Materials -0.66%, Health -0.46%, Technology -0.26%, Consumer Discretionary -0.20%, Real Estate -0.08%, Industrials +0.14%, Utilities +0.26%, Financials +0.27%, Consumer Staples +0.62%, Energy +1.05%.

Apple (AAPL) - Co. sued by shareholders in proposed class action claiming it downplayed time needed to bring AI features to Siri, a court filing shows. (Newswires)

Eli Lilly (LLY) - Eli Lilly's orforglipron met the primary endpoint in the Phase 3 ACHIEVE-1 trial, significantly reducing A1C by 1.3-1.6% at 40 weeks vs placebo. Higher doses also led to meaningful weight loss. Safety was consistent with GLP-1 class. Up to 76.2% achieved A1C below 7%, with results published in NEJM. Eli Lilly also announced that its once-weekly insulin efsitora met the primary endpoint of non-inferior A1C reduction in Phase 3 QWINT-1, QWINT-3, and QWINT-4 trials vs daily basal insulin. A1C reductions ranged from 0.86-1.31%, matching or slightly exceeding comparators, with dosing tailored to glucose levels or fixed titration. (Newswires)

Uber (UBER) - Uber said EV cost is no longer the top barrier for drivers in the US and UK, as prices have fallen to more affordable levels, a first in four years of surveying. However, concerns about charging availability and infrastructure now rank higher among driver challenges, Uber said. (Newswires)

23 Jun 2025 - 06:54- Research Sheet- Source: Newsquawk