Newsquawk Daily European Equity Opening News - 31st October 2025

ASIA

APAC stocks traded mixed as the region digested recent earnings releases and a data deluge at month-end. ASX 200 was flat as gains in mining, materials and resources were offset as defensives lagged. Nikkei 225 outperformed and climbed above the 52,000 level to print a fresh all-time high after recent currency weakness and the lack of immediate rate hike signals from the BoJ, while participants digested a slew of data, including a higher Unemployment Rate, hot Tokyo CPI and a rebound in Industrial Production. Hang Seng and Shanghai Comp were amid losses in tech stocks, and after Chinese Manufacturing PMI data missed expectations and showed a faster pace of contraction in factory activity.

Chinese Policy - PBoC Governor Pan says to study policy tools for market volatility and to narrow short-term rate corridor, adds to guard against FX overshooting risks

Chinese Data - Chinese Composite PMI (Oct) 50.0 (Prev. 50.6); NBS Non-Mfg PMI (Oct) 50.1 vs. Exp. 50.1 (Prev. 50.0); NBS Manufacturing PMI (Oct) 49.0 vs. Exp. 49.6 (Prev. 49.8)

EUROPEAN CLOSES

CLOSES: European Closes: Euro Stoxx 50 -0.15% at 5,697, Dax 40 +0.06% at 24,139, FTSE 100 +0.04% at 9,760, CAC 40 -0.53% at 8,157, FTSE MIB -0.09% at 43,202, IBEX 35 -0.72% at 16,034, PSI +0.73% at 8,446, SMI -0.10% at 12,301, AEX +0.64% at 982.

SECTORS: IT 1.14%, Utilities 0.61%, Energy 0.31%, Financials 0.08%, Healthcare -0.08%, Industrials -0.28%, Consumer Stpl -0.45%, Materials -0.53%, Telecoms -0.60%, Consumer Disc -0.92% 

FTSE 100

AstraZeneca's (AZN LN) - Gefurulimab demonstrates statistically significant and clinically meaningful improvement in MG-ADL at week 26 with clinically meaningful improvement seen as early as week one in adults with gMG in prevail P3 trial. (AstraZeneca)

UK Business - UK Lloyds Business Barometer (Oct) 50 (Prev. 42)

UK Tech - UK regulator threatens tech giants with algorithm audits to protect children, according to FT. (FT)

OTHER UK COMPANIES

BROKER MOVES

DAX

Adidas (ADS GY) - Co. announced successful placement of EUR 500mln bond. (Adidas)

Bayer (BAYN GY) - The Washington Supreme Court today issued a decision in Erickson vs. Monsanto. Bayer’s Monsanto must pay USD 185mln. Bayer disagrees with the Supreme Court’s decision to reverse the Court of Appeals in Erickson and deny Monsanto’s cross-petition regarding the availability of punitive damages. (Bayer / Newswires)

Deutsche Telekom (DTE GY) - Germany is considering using public funds to pay the co. to replace Huawei equipment. (Bloomberg)

OTHER GERMAN COMPANIES

Fuchs (FPE3 GY) - 9M (EUR): Sales 2.7bln (prev. 2.66bln Y/Y), EBIT 326mln (prev. 334mln Y/Y). Confirms outlook. (Fuchs)

BROKER MOVES

CAC

Saint Gobain (SGO FP) - Q3 2025 (EUR): Revenue 11.42bln (prev. 11.6bln); affirms outlook; 9-month revenue 35.28bln. (Newswires)

OTHER FRENCH COMPANIES

Elis (ELIS FP) - Announce the acquisition of Larose in Germany; terms not disclosed. (Elis)

Casino (CO FP) - Q3 (EUR): Net Sales 2bln, +0.5% Y/Y, EBITDA 402mln (prev. 456mln Y/Y). (Casino)

Scor (SCR FP) - Q3 (EUR): Net Income +217mln (prev. -117mln Y/Y), Insurance Revenue 3.71bln (prev. 3.94bln Y/Y). CEO said, “Looking ahead to the 1.1 renewals and beyond, SCOR will continue to leverage its Tier 1 franchise and to execute on its Forward 2026 plan in a disciplined way”. (Scor)

BROKER MOVES

PAN EUROPE

EU-US - EU officials will be informed today about a visit by US Commerce Secretary Lutnick to the EU on November 24th for trade talks, via Politico. (Politico)

Aalberts (AALB NA) - Co. completes purchase of Grand Venture Technology. (Aalberts)

Caixabank (CABK SM) - Q3 (EUR): NII 3.674bln (exp. 2.669bln), Net Income 1.445bln (exp. 1.427bln), announces new share buyback programme worth EUR 500mln and approves dividend payout of 0.1679 per share. (Caixabank)

Fugro (FUR NA) - 9M (EUR): Revenue 1.409bln (prev. 1.688bln Y/Y), EBITDA 216.1mln (prev. 364.3mln Y/Y). (Fugro)

Melia Hotels (MEL SM) - Q3 (EUR): Revenue 616.6mln, +5.6% Y/Y, EBITDA 192.2mln, +2.1% Y/Y. “The Company maintains its forecast to close 2025 with mid-single-digit systemwide RevPAR growth, supported by a balanced contribution from both rate increases and occupancy levels”. (Melia)

Puig (PUIG SM) - Q3 (EUR): Net revenue 1.30bln (exp. 1.391bln), maintains FY25 outlook. (Puig)

Telefonica (TEF SM) - Co. closes the sale of Ecuador’s unit of EUR 329mln. Says that the operation reduced the co.’s debt by around EUR 273mln. (Newswires)

UMG (UMG NA) - Q3 adj. EBITDA 664mln (exp. 650mln), revenue 3.02bln (exp. 2.94bln). "Top sellers included the KPop Demon Hunters soundtrack, Mrs. GREEN APPLE, Taylor Swift, Sabrina Carpenter and Morgan Wallen." (UMG)

BROKER MOVES

SMI

OTHER SWISS COMPANIES

BROKER MOVES

Novartis (NOVN SW) upgraded to Overweight from Equal Weight at Morgan Stanley.

SCANDINAVIA

Aker BP (AKRBP NO) - Co. completed refinancing of existing credit facilities. (Newswires)

Alma (ALMA FH) - Q3 (EUR): EBITDA 27.3mln (exp. 27.6mln), Revenue 79.3mln (exp. 79.1mln). Notes that “In Finland, the outlook is cautiously positive.” Confirms outlook. (Alma)

Danske Bank (DANSKE DC) - Q3 (DKK): NII 9.074bln (exp. 8.98bln), net income 5.520bln (exp. 5.474bln), net trading income 626mln (prev. 854mln Q/Q), sees FY25 net income at a high end of 21-23bln. (Danske Bank)

Erste (EBS AV) - Q3 (EUR): NII 1.97bln (prev. 1.91bln Y/Y), Op. Result 1.53bln (prev. 1.5bln Y/Y). Net interest income is now projected to increase by more than 2% in 2025 (prev. guided “slightly higher”) and the cost/income ratio is forecast to be around 48% (prev. Guided “less than 50%”). (Erste)

Loomis (LOOMIS SS) - Q3 (SEK): Revenue 7.644bln (exp. 7.657bln), EBITA 1.006bln (exp. 0.945bln). (Loomis)

BROKER MOVES

Kongsberg Gruppen (KOG NO) upgraded to Hold from Sell at SEB.

US

CLOSES: SPX -0.99% at 6,822, NDX -1.47% at 25,735, DJI -0.23% at 47,522, RUT -0.76% at 2,466

SECTORS: Real Estate +0.66%, Financials +0.34%, Health +0.25%, Consumer Staples +0.02%, Industrials -0.22%, Utilities -0.38%, Energy -0.68%, Materials -0.99%, Technology -1.38%, Communication Services -2.08%, Consumer Discretionary -2.51%

Amazon. com Inc (AMZN) - Q3 2025 (USD): EPS 1.95 (exp. 1.57), Revenue 180.2bln (exp. 178.08bln), Q4 sales view 206-213bln (exp. 208.4bln). AWS sales USD 33bln (exp. 32.4bln). Operating income in Q4 is expected to be between 21.0-26.0bln (exp. 23.8bln, prev. 21.2bln Y/Y). Commentary: Third quarter 2025 operating income includes two special charges—USD 2.5bln related to a legal settlement with the Federal Trade Commission and USD 1.8bln in estimated severance costs primarily related to planned role eliminations. AWS growing at pace not seen since 2022.

Apple Inc (AAPL) - Q4 2025 (USD): EPS 1.85 (exp. 1.78), Revenue 102.5bln (exp. 102.14bln) iPhone revenue 49.03bln (exp. 50.2bln). iPad revenue 6.95bln (exp. 6.98bln). Mac revenue 8.73bln (exp. 8.59bln). Services 28.75bln (exp. 28.17bln). Wearables 9.01bln (exp. 8.5bln). China revenue 14.49bln (exp. 16.24bln). Commentary: CEO Cook expects double digit Y/Y sales growth for iPhone segment in Q1. Expects overall sales growth of 10-12% Y/Y in Q1. iPhone Air launch delay in China was primary reason why China sales declined in Q4. Faced supply constraints on some iPhone 17 and iPhone 16 models in Q4. Facing supply constraints on some iPhone 17 models in Q1. Guidance: Q1 revenue growth of 10-12% (exp. 6.6%). Q1 iPhone revenue "double digit" sales growth (exp. 9.8%). CEO Tim Cook says will return to growth in Q1 in China, driven by iPhone sales. CFO reports USD 1.1bln of tariff costs in September quarter and expects USD 1.4bln tariffs impact in December quarter, Co. is significantly increasing investments in AI. Shares +2.3% after-hours

Netflix (NFLX) - Co. announces ten-for-one stock split. (Newswires)

NVIDIA (NVDA) - Co. and SK Group build AI factory to drive Korea's manufacturing and digital transformation. (Newswires)

31 Oct 2025 - 07:00- Research Sheet- Source: Newsquawk