Newsquawk Daily European Equity Opening News - 28th January 2026

ASIA

APAC stocks traded mixed with an early positive bias seen following the mostly constructive handover from Wall Street, although some cautiousness began to seep through ahead of looming key risk events. ASX 200 was subdued with the index dragged lower by weakness in tech and consumer stocks, while the predominantly firmer-than-expected inflation data from Australia supports the case for a hike at next week's RBA meeting. Nikkei 225 underperformed from the open, following the recent currency strength spurred by intervention speculation and US President Trump's FX-related rhetoric. Hang Seng and Shanghai Comp were in the green with energy and telecom stocks among the index leaders in Hong Kong, while the mainland was kept afloat after developer China Vanke won creditor approval to extend another two CNY bonds and with a report noting that China approved the first batch of NVIDIA's H200 AI chips for import involving several hundred thousand H200 AI chips.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +0.58% at 5,993, Dax 40 -0.10% at 24,908, FTSE 100 +0.58% at 10,208, CAC 40 +0.27% at 8,153, FTSE MIB +1.09% at 45,440, IBEX 35 +0.70% at 17,804, PSI +0.90% at 8,654, SMI +0.46% at 13,206, AEX +0.29% at 1,002

SECTORS: IT 1.27%, Utilities 1.14%, Financials 1.10%, Energy 0.77%, Healthcare 0.49%, Industrials 0.41%, Telecoms 0.14%, Consumer Stpl 0.05%, Materials -0.02%, Consumer Disc -0.22%

FTSE 100

Shell (SHEL LN) – Co. is reportedly seeking OFAC licence for Loran field offshore Trinidad and Tobago, according to the energy minister. (Newswires)

OTHER UK COMPANIES

BROKER MOVES

DAX

OTHER GERMAN COMPANIES

Wacker Chemie (WCH GY) - FY (EUR): Sales 5.49bln (exp. 5.47bln), EBITDA 430mln (prev. 744mln Y/Y). Weak demand leads to lower capacity utilization in all divisions; sales and earnings impacted by lower volumes and prices in some cases, as well as by negative currency effects. (Wacker Chemie)

BROKER MOVES

CAC

LVMH (MC FP) - Q4 2025 (EUR): Revenue 22.7bln (exp. 22.6bln), Organic growth +1% (exp. -0.3%); FY revenue 80.81bln (exp. 80.65bln), Profit from recurring operations 17.76bln (exp. 17.15bln), Net profit 10.88bln (exp. 10.55bln) Q4 fashion & leather organic sales -3% (exp. -2.94%). Q4 wines & spirits revenue -9% (exp. -1.1%). Q4 sales -2% in Europe, +1% in US, and +1% in Asia. Will propose dividend/shr of EUR 13 (exp. EUR 12.04). CEO says global market is difficult and disturbed; this year unlikely to be very straightforward; see improvement of trends across activities Louis Vuitton Beauty business was off to a good start and keeps growing double digit. Arnault Family will have more than 50% of LVMH equity soon. Short-term visibility is poor, but remains optimistic on the medium-term outlook. CFO says there was an incremental slowdown with US client, mainly due to comp base, while China trends were stable. Head of LVMH wines and Spirits says sales decline is due to the economic context, not structural; demand in US is declining across the product range. (LVMH) Weightings: STOXX 600 (1.3%); Euro Stoxx 50 (2.66%); STOXX 600 Consumer Products & Services Sector 25.8% (largest weighting); Shares -1.8% in pre-market trade

OTHER FRENCH COMPANIES

Ipsos (IPS FP) - Ipsos announces the acquisition of Seventh Decimal, a research technology company for Out-Of-Home audience measurement. (Ipsos)

BROKER MOVES

PAN EUROPE

ASML (ASML NA) - Q4 2025 (EUR): Sales 9.72bln (exp. 9.26bln, guided 9.2-9.8bln), Orders 13.2bln (exp. 6.95bln), guides Q1 2026 Revenue 8.2-8.9bln (exp. 8.11bln), Raises FY26 sales 34-39bln (exp. 36.5bln); Announces up to EUR 12bln share buyback. Gross profit EUR 5.07bln (exp. 4.98bln). CEO: Expect 2026 to be another growth year for the Co., largely driven by a significant increase in EUV sales and growth in our installed-based business sales. Expect Q1'26 total net sales between EUR 8.2 -8.9bln, with a gross margin between 51% and 53%. For the FY26, expects total net sales to be between EUR 34-39bln, with a gross margin between 51% and 53%. "In the last months, many of our customers have shared a notably more positive assessment of the medium-term market situation, primarily based on more robust expectations of the sustainability of AI-related demand. This is reflected in a marked step-up in their medium-term capacity plans and in our record order intake. Holds the largest weighting in the STOXX 600 (2.9%), Euro Stoxx 50 (5.9%), STOXX 600 Tech (30.7%).; Shares +8% in pre-market trade.; CEO to speak on Bloomberg at 07:00 GMT; Co. to hold a press conference at 10:00 GMT; investor call begins at 14:00 GMT.

Dutch stocks - Leaders of Dutch political parties reach an agreement on forming minority government. (Newswires)

KPN (KPN NA) - Q4 (EUR): Adj. EBITDA 662mln (exp. 660mln). 2026 outlook: Service revenue growth 2% to 2.5% Y/Y. (KPN)

BROKER MOVES

SMI

Logitech (LOGN SW) - Q3 (USD): adj. EPS 1.93 (exp. 1.81), Q3 revenue 1.42bln (exp. 1.41bln), with broad-based growth across categories, regions and both consumer and business channels, and record operating income outside pandemic peaks despite tariff headwinds. CEO said performance reflected portfolio quality, strong innovation and global operational capabilities, highlighting new products such as the MX Master 4 mouse. For Q4, sees revenue between USD 1.07-1.09bln (exp. 1.08bln), and operating income between USD 155-165mln. For FY26, sees revenue between USD 4.825-4.845bln (exp. 4.81bln), and operating income between USD 900-910mln.

Lonza (LONN SW) - FY (CHF): Sales 6.5bln (exp. 7.65bln), Adj. EBITDA 2.1bln (exp. 2.22bln). (Lonza)

OTHER SWISS COMPANIES

BROKER MOVES

PSP Swiss Property (PSPN SW) upgraded to Buy from Neutral at UBS

Swiss Prime (SPSN SW) upgraded to Neutral from Sell at UBS

SCANDINAVIA

SSAB (SSABA SS) - Q4 (SEK): Revenue 22.1bln (exp. 22.4bln), EBIT 765mln (exp. 606mln), EPS 0.44 (prev. 0.48 Y/Y): Proposes FY25 dividend SEK 2.00/shr v SEK 2.60/shr. (SSAB)

Tele 2 (TEL2 SS) - Q4 (SEK): Revenue 8bln (exp. 7.87bln), EPS 1.77 (exp. 1.77). 2026 guidance: Low single-digit organic EUSR growth; low to mid-single-digit organic underlying EBITDAaL growth; 10–11% capex to sales. (Tele 2)

Volvo (VOLVB SS) - Q4 (SEK) EPS 4.73 (exp. 4.34), Sales 123.8bln (exp. 121.7bln), Op. Income 12.8bln (exp. 11.7bln); raises FY26 NA truck orders 265k (prev. guided 250k). The Board of Directors proposes an ordinary dividend of SEK 8.50 per share and an extra dividend of SEK 4.50 per share. Notes that there has been a slight improvement in some markets. (Volvo)

BROKER MOVES

Neste (NESTE FH) downgraded to Neutral from Buy at UBS

Pandora (PNDORA DC) reiterated with Buy; PT cut to DKK 650/shr (prev. 750/shr)

US

CLOSES: SPX +0.41% at 6,979, NDX +0.88% at 25,940, DJI -0.83% at 49,003, RUT +0.26% at 2,667

SECTORS: Health -1.66%, Financials -0.74%, Communication Services +0.02%, Materials +0.04%, Real Estate +0.14%, Consumer Staples +0.33%, Industrials +0.42%, Consumer Discretionary +0.67%, Energy +0.99%, Utilities +1.25%, Technology +1.42%.

Nvidia (NVDA) - China approved its first batch of Nvidia H200 AI chips for import, covering several hundred thousand units, Reuters reports citing sources. Approval was granted during CEO Huang’s China visit, with most chips allocated to three major internet companies. Chinese firms have ordered over 2mln chips amid strong demand, Reuters added. (Reuters)

Applied Materials (AMAT) - Shares rose over 5% in afterhours trading following an upgrade at Mizuho, which lifted its rating to Outperform from Neutral, and raised its price target to USD 370 (from USD 275). Mizuho said AMAT should benefit from accelerating spending in the US, Taiwan and Japan; sees WFE spending +13% Y/Y this year, and +12% Y/Y next year.

Seagate (STX) - Seagate shares +9.8% in extended trading after reporting quarterly earnings and revenue that topped expectations, and issued stronger guidance, supported by robust AI-driven demand for data storage. It reported Q2 adj. of EPS 3.11 (exp. 2.84), and Q2 revenue of USD 2.83bln (exp. 2.76bln), with December-quarter results exceeding expectations and setting records for gross margin, operating margin and adj. EPS, while exabyte shipments reached new company highs. Exec said revenue per terabyte sold remained relatively stable, near-line capacity is fully allocated through calendar 2026, and Mozaic 3 is qualified with all major US CSP customers and on track for global CSP qualification in H1 calendar 2026, supporting a long-term areal density roadmap extending to 10TB per disk early next decade. CEO said results reflected durable data centre demand and the ramp of HAMR-based Mozaic products. For Q3, sees adj. EPS between 3.20-3.60 (exp. 3.01), and revenue between USD 2.8-3.0bln (exp. 2.79bln). For FY26, Seagate sees capex at 4-6% of revenues.

Texas Instruments (TXN) - Shares rose +7.8% in extended US trading after it issued a stronger than expected Q1 outlook, signalling a recovery in demand for industrial equipment and vehicles. It reported Q4 EPS of 1.27 (exp. 1.29); EPS included a 0.06/shr reduction not included in original guidance; Q4 revenue +10% Y/Y at USD 4.42bln (exp. 4.44bln); trailing 12-month cash flow from operations USD 7.2bln, FCF USD 2.9bln, reflecting continued benefits from 300mm manufacturing, while investment over the period included USD 3.9bln in R&D and SG&A, and USD 4.6bln in capex; USD 6.5bln was returned to owners. CEO said the results underscored the strength of the business model, product portfolio and scale advantages, while highlighting disciplined long-term investment. CEO said revenue in its data centre segment rose +70% in Q4. For Q1, sees EPS between 1.22-1.48 (exp. 1.28), and revenue between USD 4.32-4.68bln (exp. 4.42bln).

WeRide (WRD) - WeRide announced the launch of WeRide GENESIS1, a proprietary general-purpose simulation model bridging physical and generative AI. The platform generates realistic virtual worlds and rare driving scenarios to accelerate large-scale autonomous vehicle training and validation, improving performance, speeding iteration cycles, and reducing time and costs versus road testing.

28 Jan 2026 - 06:55- Research Sheet- Source: Newsquawk