Newsquawk Daily European Equity Opening News - 2nd September 2025

ASIA

APAC stocks traded mostly lower with the region cautious amid a lack of fresh drivers and following the holiday lull stateside. ASX 200 was subdued amid underperformance in the consumer-related sectors, real estate, telecoms and energy, although the downside was somewhat cushioned by gains in the top-weighted financial industry. Nikkei 225 initially benefitted from currency weakness but pulled away from best levels following somewhat varied comments from BoJ's Himino who reiterated it is appropriate to continue raising interest rates in accordance with improvements in the economy and prices, but also noted high uncertainty surrounding the global economy and trade policy. Hang Seng and Shanghai Comp were pressured owing to weakness in tech and with a lack of fresh macro drivers, while participants also digested several automaker monthly updates and there were recent comments from US Treasury Secretary Bessent who downplayed the significance of the China-hosted meeting of leaders from non-Western countries as performative, and accused both China and India of being ‘bad actors’ by fuelling the Russian war machine.

MUFG (8591 JT) - Co's Real Estate Asset Management arm is reportedly planning to launch a JPY 100bln fund, according to Reuters sources. (Newswires)

Samsung (005930 SK) - Samsung will resume investment in its Taylor, Texas foundry, with prior delays from customer confirmation issues now resolved. The company plans to invest around KRW 4tln (around USD 2.9bln), aiming to advance construction and capacity at the facility, targeting operational readiness by 2026, DigiTimes reports.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +0.31% at 5,368.55, DAX 40 +0.57% at 24,037.33, FTSE 100 +0.1% at 9,196.34, CAC 40 +0.1% at 7,707.90, FTSE MIB +0.5% at 42,409.71, IBEX 35 +0.02% at 14,939.40, PSI +0.65% at 7,810.85, SMI -0.29% at 12,152.62, AEX -0.04% at 896.26.

SECTORS: Industrials 0.76%, Telecoms 0.47%, Healthcare 0.36%, Financials 0.28%, IT 0.27%, Energy 0.11%, Consumer Stpl 0.00%, Materials -0.18%, Consumer Disc -0.25%, Utilities -0.90%

FTSE 100

Glencore (GLEN LN) - Glencore and Merafe Resources have started a consultation process under South Africa’s Labour Relations Act to discuss potential job cuts at their ferrochrome joint venture, effective September 1st. The review affects Boshoek and Wonderkop smelters, may reduce Lion smelter capacity by half, and includes mining division and head office restructuring due to ongoing economic pressures in the industry. (Newswires)

Gold Miners - Gold briefly breached the USD 3,500/oz level to print a fresh record high. (Newswires)

OTHER UK COMPANIES

Wizz Air (WIZZ LN) - CEO says co. is in process of confirming deal with Pratt & Whitney (RTX) to accelerate and finalise maintenance by 2027, via Reuters. (Newswires)

BROKER MOVES

British American Tobacco (BATS LN) downgraded to Underperform from Sector Perform at RBC

DAX

Deutsche Bank (DBK GY) - Deutsche Bank is seeking to exit its India retail banking business, inviting bids by August 29th for its 17 branches, Reuters reports. The move follows cost-cutting and stiff competition, echoing Citi (C) and Standard Chartered’s (SCBFY) earlier India retail exits. (Newswires)

Rheinmetall (RHM GY) – CEO said that the Co. is stockpiling enough raw key materials to keep production up for at least 5 years. (Newswires)

Qiagen (QIA GY) – Obtains US clearance of higher throughput QIAstat-Dx rise. (Newswires)

OTHER GERMAN COMPANIES

Deutz (DEZ GY) – Acquires Sobek Group; purchase price results in an EBITDA multiple of around 11x. (Newswires) Shares +4% in pre-market trade

BROKER MOVES

Commerzbank (CBK GY) downgraded to Equal Weight from Overweight at Morgan Stanley

Continental (CON GY) upgraded to Neutral from Underperform at Oddo

Fresenius Medical Care (FME GY) downgraded to Sell from Neutral at UBS

CAC

Airbus (AIR FP) - Airbus delivered about 60 jets in August, leaving 2025 deliveries at around 433, or 3% behind last year. The jetmaker targets 820 deliveries this year, but needs a record 97 monthly deliveries from September to December amid engine delays, Reuters reports; analysts see 790–800 as more likely. (Newswires)

Societe Generale (GLE FP) – SocGen Securities Australia has been fined AUD 3.88mln for market gatekeeper failures. (Newswires)

OTHER FRENCH COMPANIES

BROKER MOVES

Technip Energies (TE FP) resumed with Overweight at JPMorgan

Kering (KER FP) upgraded to Buy from Hold at HSBC

LVMH (MC FP) upgraded to Buy from Hold at HSBC

Hermes (RMS FP) downgraded to Hold from Buy at HSBC

PAN EUROPE

Euro Stoxx 50 - Euro Stoxx 50 will add Deutsche Bank (DBK GY), Siemens Energy (SIE GY) and Argenx (ARGX BB), while removing Nokia (NOKIA FH), Stellantis (STLAM IM/STLAP FP) and Pernod Ricard (RI FP); the changes are effective from September 22nd. (Newswires)

Stoxx 600 Composite Changes - Additions: Zegona Communications (ZEG LN), Abivax (ABVX FP), Unicaja Banco (UNI SM), Frapot (FRA GY), Camurus (CAMX SS), Nordex (NDX1 GY), Just Group (JUST LN). Deletions: Computacenter (CCC LN), Carl Zeiss (AFX GY), Redcare Pharma. (RDC NA), Gerresheimer (GXI GY), Embracer Group (EMBRACB SS), Banca Popolare Di Sondrio (BPSO IM), Verallia (VRLA FP). (Stoxx)

BMPS (BMPS IM) / Mediobanca (MB IM) - BMPS raises its offer for Mediobanca by adding about EUR 750mln in cash (raises by around 5.6%). (Newswires)

BBVA (BBVA SM) - Co. with SAP (SAP GY) will forge a strategic alliance to improve corporate and business banking services. (Newswires)

Eni (ENI IM) – Co. alongside Delek Group will sell about 2% of their stake in Ithaca Energy (ITH LN). (Newswires)

EZ Banks - The EU’s incomplete banking union has left EUR 225bln of capital trapped at large lenders, limiting funds available for business support, Bloomberg reports. Banks with over EUR 500bln in assets hold consistently higher capital ratios at cross-border subsidiaries than on a consolidated basis, the Association for Financial Markets in Europe reported. (Newswires)

Prosiebensat 1 Media (PSM GY) / MFE (MFEB IM) – German Culture minister is set to meet the MFE CEO on Tuesday ahead of the co.’s takeover approach of Prosiebensat 1 Media, via Reuters citing sources. (Reuters)

BROKER MOVES

Buzzi (BZU IM) upgraded to Overweight from Equal Weight at Morgan Stanley

Eni (ENI IM) downgraded to Sector Perform from Outperform at RBC

ING (INGA NA) upgraded to Overweight from Equal Weight at Morgan Stanley

SMI

Nestle (NESN SW) – Co. ousted CEO Freixe over an affair he had with a subordinate. The Co. will now be led by Navratil, who has moved up from within the company over two decades. (Newswires)

Partners (PGHN SW) – H1 (CHF): Net Income 578mln (prev. 508mln Y/Y), Revenue 1.17bln (prev. 977mln Y/Y). Affirms guidance. (Newswires)

OTHER SWISS COMPANIES

DKSH (DKSH SW) – Completed acquisition of Aston Chemicals. (Newswires)

BROKER MOVES

SCANDINAVIA

BROKER MOVES

Aker Solutions (AKSO NO) upgraded to Buy from Hold at SEB

Equinor (EQNR NO) downgraded to Hold from Buy at SEB

Var Energi (VAR NO) downgraded to Sell from Hold at SEB

US - Closed on Monday due to Labor Day

Tesla (TSLA) - Co. begins Model Y L delivery in China. (Newswires)

02 Sep 2025 - 06:56- Research Sheet- Source: Newsquawk