Newsquawk Daily European Equity Opening News - 30th June 2025

ASIA

APAC stocks began the week mostly in the green following last Friday's record highs on Wall St but with some of the gains capped heading into month-end and as participants digested a slew of data including somewhat mixed Chinese PMIs. ASX 200 edged higher with strength in the defensive sectors but with upside limited by data including softer-than-expected private sector credit. Nikkei 225 outperformed despite disappointing Industrial Production data which showed a surprise Y/Y contraction and with the index also unfazed by recent comments from US President Trump who noted that Japanese vehicles should be subject to a 25% auto tariff in the US. Hang Seng and Shanghai Comp were mixed following the latest PMI data which showed headline Manufacturing PMI remained in contraction territory, as expected, although Non-Manufacturing PMI accelerated at a faster pace than forecast.

EUROPEAN CLOSES

CLOSES: DAX: +1.78 % at 24,050, FTSE 100: +0.73 % at 8,799, CAC 40: +1.78 % at 7,692, Euro Stoxx 50: +1.62 % at 5,329, AEX: +1.04 % at 920, IBEX 35: +1.05 % at 13,966, FTSE MIB: +0.97 % at 39,732, SMI: +0.75 % at 11,974, PSI: +1.24 % at 7,524.

SECTORS: Consumer Disc 2.32%, Industrials 1.96%, IT 1.44%, Financials 1.22%, Materials 1.16%, Telecoms 0.83%, Healthcare 0.54%, Consumer Stpl 0.28%, Energy 0.15%, Utilities -0.26%

FTSE 100

Hikma Pharmaceuticals (HIK LN) - Hikma Pharmaceuticals USA will invest USD 1bln by 2030 to expand US manufacturing and R&D, aiming to enhance domestic capabilities for developing and producing medicines for the US healthcare system. (Newswires)

UK Finance Sector - UK launches biggest financial advice shakeup in more than a decade, with the regulator unveiling plans for targeted support to help individuals get better returns, according to FT. (FT)

UK Stocks - The UK government said the UK-US trade deal has come into force, slashing US export tariffs for the UK's automotive and aerospace sectors. UK car manufacturers can now export to the US under a reduced 10% tariff quota. 10% tariffs on goods like aircraft engines and aircraft parts removed and a commitment to maintain them at 0%. (Newswires)

Tesco (TSCO LN)/Sainsbury's (SBRY LN)/Marks & Spencer (MKS LN) - UK Supermarkets could be forced to ensure shoppers swap fattening items for healthier choices as part of a coming blueprint aimed at saving the health service, via Politico (Politico)

UK Business Confidence - UK Lloyds Business Barometer (Jun) 51 (Prev. 50); highest since 2015 (Newswires)

OTHER UK COMPANIES

Liontrust Asset Management (LIO LN) upgraded to Add from Hold at Peel Hunt

Man Group (EMG LN) downgraded to Add from Buy at Peel Hunt

BROKER MOVES

DAX

OTHER GERMAN COMPANIES

Thyssenkrupp (TKA GY) - Norway’s largest private pension fund, KLP Pension managing about USD 114bln, has blacklisted Oshkosh Corp. (OSK) and ThyssenKrupp AG due to their arms sales to the Israeli military amid the Gaza conflict, Bloomberg reports. (Bloomberg)

BROKER MOVES

Zalando (ZAL GY) assumed with a Buy at Jefferies. Shares seen opening +2%.

CAC

Sanofi (SAN FP) - Sanofi’s riliprubart was granted orphan drug designation in Japan for CIDP. Two phase 3 studies are underway testing it as a potential first-in-class treatment. (Newswires)

Total Energies (TTE FP) - Co. is said to receive offers for Argentina Shale oil assets, according to Bloomberg. (Bloomberg)

OTHER FRENCH COMPANIES

Vallourec (VK FP) - Co. has secured a significant order from UAE's ADNOC for the supply of more than 30,000 tons of carbon steel tubular and associated accessories. This order is part of the ongoing Long-Term Agreement (LTA) for the supply of Oil Country Tubular Goods (OCTG) between Vallourec and ADNOC. (Vallourec)

BROKER MOVES

Gecina (GFC FP) upgraded to Buy from Hold at Deutsche Bank

PAN EUROPE

Banca Sistema SpA (BST IM) - Elliott Management’s Italian financial firm Banca CF+ plans an offer for Banca Sistema SpA, combining cash and shares of Banca Sistema’s unit Kruso Kapital SpA, according to insiders cited by Bloomberg. (Bloomberg) Banca CF+ later confirmed it is to launch an offer for 100% of the Co. for EUR 1.80/shr (vs EUR 1.96 close on Friday). (Newswires)

China-exposed Sectors - Chinese Composite PMI (Jun) 50.7 (Prev. 50.4). Chinese NBS Non-Mfg PMI (Jun) 50.5 vs. Exp. 50.3 (Prev. 50.3). Chinese NBS Manufacturing PMI (Jun) 49.7 vs. Exp. 49.7 (Prev. 49.5). (Newswires)

European Supply Chain - US tariff policies coupled with low river levels are causing the worst supply chain congestion since COVID, according to FT. Issues at the ports of Rotterdam, Antwerp, and Hamburg are expected to last for several months. (FT)

Stellantis (STLAM IM/STLAP FP) - Serbia secured China’s promise to help accelerate exports of critical minerals for EV production, benefiting Stellantis NV’s factory there, Bloomberg reports. President Xi Jinping pledged support for faster permitting, following Serbia’s government intervention on Stellantis’ behalf amid sourcing challenges. (Bloomberg)

BROKER MOVES

SMI

Roche (ROG SW) - Roche announced the retirements of Hans Clevers, head of pharma research and early development, and Barbara Schadler, by year-end. Successors will be named in due course. (Newswires)

UBS (UBS SW) - Co. is to start a new 2-year share buyback on July 1st. (Newswires)

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

BROKER MOVES

US

CLOSES: SPX +0.52% at 6,173, NDX +0.39% at 22,534, DJI +1.00% at 43,819, RUT +0.02% at 2,173

SECTORS: Consumer Discretionary +1.78%, Communication Services +1.55%, Industrials +1.01%, Consumer Staples +0.62%, Real Estate +0.44%, Financials +0.33%, Utilities +0.26%, Technology +0.10%, Materials +0.02%, Health -0.16%, Energy -0.50%.

AI Stocks - Within the bill, the Senate is set to approve a provision pausing state AI regulations for five years; the move favours tech firms and startups, and faced opposition from some Republican senators who view it as a giveaway to major technology companies. (Newswires)

Dell (DELL) - CEO sold 10mln class c shares at USD 122.27/shr on 26th June, via filing. (Newswires)

Google (GOOGL)/NVIDIA (NVDA) - Google reportedly convinced OpenAI to use TPU chips in a win against NVIDIA, The Information reported. OpenAI hopes Google’s TPUs can help lower its costs. The move is part of OpenAI’s effort to diversify from Microsoft and NVIDIA. The OpenAI-Google cloud pact may be straining Google’s servers. (The Information)

Meta (META) - Co. seeks USD 29bln from private credit giants to fund AI data centres, FT reports. Meta is hoping to raise USD 3bln of equity from them and then a further USD 26bln of debt. (FT)

Tesla (TSLA) - Co. is reportedly planning another round of layoffs across the company this month, according to Tech Crunch sources. (Tech Crunch)

US Banks - Fed Stress Test: large banks well-positioned to weather a severe recession in 2025 stress test; all 22 banks passed. Twenty-two of the largest banks saw an aggregate decline of 1.8% of common equity tier 1 capital under a hypothetical recession, with total losses of more than USD 550bln. Banks that were tested maintained capital ratios of more than double the minimum requirements under the Fed stress test. Fed says if it finalizes the proposal to average test results over two years, banks would have an aggregate capital decline of 2.3% in 2024 and 2025 combined. Charles Schwab posts the highest capital ratio under the test of 32.7%, and BMO is the lowest at 7.8%. (Newswires)

US - Canada Trade - US President Trump terminated discussions on trade with Canada. On Friday US President Trump said the US would terminate all discussions on trade with Canada effective immediately, and would let Canada know the tariff that they will be paying to do business with the United States of America within the next seven-day period. (Truth Social)

30 Jun 2025 - 06:57- Data- Source: Newsquawk