Newsquawk Daily European Equity Opening News - 29th July 2025

ASIA

APAC stocks traded mixed with a mostly negative bias after a similar performance among global peers as participants digested trade developments and as risk events loom. ASX 200 marginally declined with weakness in telecoms and the top-weighted financial sector leading the descent, while there were few catalysts to provide an uplift. Nikkei 225 continued to give back previous trade-related spoils despite recent currency weakness. Japanese PM Ishiba remained defiant and noted there is no change in his intention to stay in office despite many reportedly calling for PM Ishiba's resignation at Monday's LDP meeting. Hang Seng and Shanghai Comp were pressured albeit to varying degrees with little information so far from the US-China talks in Sweden which are set to enter a second day.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.28% at 5,337, Dax 40 -1.13% at 23,945, FTSE 100 -0.43% at 9,081, CAC 40 -0.43% at 7,801, FTSE MIB +0.01% at 40,732, IBEX 35 -0.12% at 14,220, PSI -0.44% at 7,673, SMI -0.22% at 11,930, AEX +0.29% at 908.

SECTORS: Energy 1.91%, IT 1.47%, Healthcare 0.34%, Financials -0.02%, Materials -0.41%, Utilities -0.47%, Industrials -0.61%, Consumer Disc -0.73%, Consumer Stpl -0.98%, Telecoms -1.60%

FTSE 100

Shell (SHEL LN) - Shell subsidiary Savion is to streamline five US solar projects through a JV. (Newswires)

UK BRC - UK BRC Shop Price Index YY (Jul) 0.7% (Prev. 0.4%); BRC Chief said "Families will have seen their food bills increase as food price inflation rose for the sixth consecutive month". (Newswires)

OTHER UK COMPANIES

Wise (WISE LN) - More than 90% of Class A Wise shareholders have backed the co.’s plan to move its primary listing to New York. (City AM)

BROKER MOVES

Informa (INF LN) reinstated with Overweight at JPMorgan

DAX

OTHER GERMAN COMPANIES

Hypoport (HYQ GY) - Q2 (EUR): Revenue 146mln, +6% Y/Y, EBIT 7.4mln (exp. 7mln), +102% Y/Y, Gross Profit 64mln, +13% Y/Y. (Newswires) Shares +4.7% in pre-market trade

Siltronic (WAF GY) - Q2 (EUR): Revenue 329.1mln (exp. 322mln, prev. 351.3mln Y/Y). Outlook 2025: Sales guidance lowered to mid-single-digit percentage range below the prior year (prev. guided in region of prior year). (Newswires)

TeamViewer (TMV GY) - Q2 (EUR): Revenue 190.7mln (prev. 164mln Y/Y). Affirms guidance (Newswires)

Uniper (UN01 GY) - Co. expects a significant decline in earnings for the first half of FY25; expects adj. EBITDA for H1 at EUR 379mln and adj. net income EUR 135mln. (Newswires)

BROKER MOVES

CAC

Air Liquide (AI FP) - H1 (EUR): Revenue 13.72bln (exp. 13.79bln), Operating income recurring 2.74bln (exp. 2.80bln). Outlook confirmed. (Newswires)

Amundi (AMUN FP) - H1 (EUR): Adj. Net Income 638mln, +4% Y/Y, AuM 2.27tln, +5.2% Y/Y. (Newswires)

Essilor Luxottica (EL FP) - H1 25 (EUR): Revenue 14.024bln (exp. 14.05bln). Q2 25 revenue ex-FX +7.3% (exp. +5.93%). H1 net income 1.80bln (exp. 1.85bln). CFO says co. is working on diversification of supply chain and price adjustments to mitigate impact of US tariffs; group increased prices by mid-single digits in the US, but effect will be seen mostly in H2. The group could further increase smart glass production capacity to over 10bln pieces. CEO expects sales of Meta (META) smart glasses to accelerate, forecast is much higher than before. (Newswires)

Orange (ORA FP) Q2 (EUR): EBITDAAL 3.20bln (exp. 3.22bln), Revenue 9.94bln (exp. 10.05bln); raises 2025 outlook, sees organic cash flow from telecom activities of at least EUR 3.6bln;raises FY26 EBITDAAL above +3% (prev. guided around 3%)

OTHER FRENCH COMPANIES

JCDecaux (DEC FP) - Co. won exclusive advertising concession for Brussels Airport. (Newswires)

Rexel (RXL FP) - Q2 (EUR): Sales 4.95bln (co. consensus 4.88bln), Net Income 261.6mln (co. consensus 303.4mln). Confirms FY guidance. (Newswires)

Vivendi (VIV FP) / Bollore (BOL FP) - Bollore seeks annulment of AMF decision on Vivendi buyout; Co's are to appeal. (Newswires)

BROKER MOVES

PAN EUROPE

ASM International (ASM NA) - Completed EUR 150mln share buyback program. (Newswires)

Acciona (ANA SM) - H1 (EUR): Revenue 9.23bln, +10% Y/Y, EBITDA 1.55bln, +57% Y/Y. Confirms FY25 guidance. (Newswires)

BPER Banca (BPE IM) - Co. launches a tender and exchange offer for Banca Popolare Di Sondrio (BPSO IM); consideration for BPSO IM shares is EUR 1.450 BPER Banca shares and EUR 1/shr in cash. (Newswires)

Endesa (ELE SM) - H1 (EUR): EBITDA 2.71bln (exp. 2.41bln), Revenue 10.71bln (prev. 10.4bln Y/Y). Reaffirms FY25 guidance. (Newswires)

Philips (PHIA NA) - Q2 (EUR): Adj. EBITA 540mln (prev. 495mln Y/Y), Revenue 4.34bln (exp. 4.43bln, prev. 4.46bln Y/Y). Q3: Guides Adj. EBITA margin lower, citing tariffs. Raises FY25 Adj. EBITDA Margin 11.3-11.8% (exp. 11.2%, prev. guided 10.8-11.3%). CEO says order intake in China is improving and market is slowly recovering. Highlights that US demand is strong. On Chinese restrictions on EU medical equipment, says, have localised 90% of what we sell in China. (Newswires)

Prosus (PRX NA) - Co. extends acceptance period of its public offer for Just Eat (JET LN), until Oct 1, 2025. EU Commission decision on deal is expected by Aug 11. (Newswires)

BROKER MOVES

Cellnex (CLNX SM) reinstated with Overweight at JPMorgan

SMI

Sika (SIKA SW) - H1 (CHF): Net Income 544.4mln (prev. 577.1mln Y/Y), Revenue 5.68bln (exp. 5.73bln). Affirms guidance. (Newswires)

OTHER SWISS COMPANIES

SIG (SIGN SW) - H1 (EUR): Adj. Net Income 136.1mln (prev. 120.2mln Y/Y), Revenue 1.58bln (prev. 1.57bln Y/Y). Affirms guidance but expects 2025 rev. growth and Adj. EBITDA margin to be in lower half of range. (Newswires)

BROKER MOVES

SCANDINAVIA

H&M (HMB SS) - Co. to open first store in Brazil on Aug 23. (Newswires)

BROKER MOVES

US

CLOSES: SPX 0.00% at 6,389, NDX +0.36% at 23,356, DJI -0.14% at 44,838, RUT -0.07% at 2,259.

SECTORS: Consumer Discretionary +0.69%, Technology +0.77%, Energy +1.16%, Health -0.83%, Financials -0.67%, Industrials -0.29%, Communication Services -0.18%, Consumer Staples -0.89%, Utilities -1.05%, Materials -1.44%, Real Estate -1.75%.

Cadence Design Systems (CDNS) - Q2 adj. EPS 1.65 (exp. 1.58), Q2 revenue USD 1.275bln (exp. 1.26bln). Sees FY EPS between 6.85-6.95 (exp. 6.78; prev. saw 6.73-6.83) and sees FY revenue between USD 5.21-5.27bln (exp. 5.19bln; prev. saw 5.15-5.23bln). DoJ said Cadence will plead guilty and pay over USD 140mln to settle US charges of selling chip design tools to a Chinese military university linked to nuclear simulation; the settlement, amid fresh US-China trade talks, includes a three-year probation and follows a multi-year investigation into unauthorised exports via front companies.

Harley-Davidson (HOG), Allianz (ALIZY), KKR & Co. (KKR) - Harley-Davidson is in advanced talks to sell a stake in its financing unit and its existing motorcycle loan portfolio to PIMCO and KKR in a deal valued at USD 5bln, according to Bloomberg. (Bloomberg)

Nucor (NUE) - Shares fell over 5% in extended trading after it flagged lower earnings for next quarter. It reported Q2 EPS of 2.60 (exp. 2.70), Q2 revenue of USD 8.46bln (exp. 8.48bln). Notes sequential earnings growth across all segments but sees Q3 EPS nominally lower vs Q2 due to expected margin compression in steel mills, despite stable demand and backlogs.

Medicare - Premiums for Medicare Part D drug plans are expected to rise significantly in 2026 due to increasing costs, regulatory changes, and reduced federal subsidies that had previously cushioned seniors, with the Trump administration now seeking to mitigate the impact through negotiations with insurers, WSJ reports.

Sarepta Therapeutics (SRPT) - Sarepta shares surged over 50% in extended trading after it received FDA clearance to resume its gene therapy Elevidys for ambulatory patients after a pause following three linked deaths. The decision reverses a major threat to Sarepta’s revenue and debt repayment plans.

Whirlpool (WHR) - Q2 adj. EPS 1.34 (exp. 1.74), Q2 revenue USD 3.77bln (exp. 3.88bln). CEO noted ongoing impact from competitors stockpiling Asian imports but affirmed confidence in North America positioning and long-term strategy. Cuts FY25 adj. EPS guidance to 6.00-8.00 (exp. 9.06) and revenue to around USD 15.8bln (exp. 15.66bln). Also lowers FY25 cash flow and free cash flow views. Plans annual dividend of 3.60 per share.

29 Jul 2025 - 06:50- Exclusive- Source: Newsquawk