Newsquawk Daily European Equity Opening News - 3rd September 2025

ASIA

APAC stocks were predominantly lower following the weak handover from Wall St, where the major indices declined on return from the extended weekend as sentiment was dampened by global debt concerns amid a higher yield environment. ASX 200 retreated with the declines led by underperformance in tech, utilities and financials, while slightly stronger-than-expected Australian GDP data failed to inspire. Nikkei 225 was pressured amid a higher global yield environment but with the downside initially cushioned by recent currency weakness. Hang Seng and Shanghai Comp gradually fell despite the better-than-expected RatingDog Services PMI data from China and with the attention in Beijing on the military parade, which was attended by Russian President Putin and North Korean Leader Kim, while US President Trump reacted in a post and accused them of conspiring against the US.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -1.41% at 5,291, Dax 40 -2.21% at 23,505, FTSE 100 -0.87% at 9,117, CAC 40 -0.70% at 7,654, FTSE MIB -1.61% at 41,728, IBEX 35 -1.49% at 14,717, PSI -1.71% at 7,678, SMI -0.64% at 12,099, AEX -1.38% at 884

SECTORS: Energy -0.18%, Consumer Stpl -0.56%, Healthcare -0.62%, Consumer Disc -0.68%, Telecoms -0.96%, Materials -1.27%, Utilities -1.53%, Financials -1.71%, Industrials -2.31%, IT -2.90%

FTSE 100

Anglo American (AAL LN) - FT writes that Brazil has opened a probe into the Co's USD 500mln nickel sale. (FT)

BT (BT/ LN) – Co. to sell Radianz business to TNS; is exp. to be completed in H1'26; no terms disclosed. (Newswires)

Diageo (DGE LN) - The Ontario premier promised he would "hurt" the Co. after it decided to go ahead with its plans to close a facility in the region. Premier Ford said, "You guys are about as dumb as a bag of hammers for doing this". (Newswires)

Gold Miners - Spot gold reached a fresh record high overnight of USD 3,547.33/oz; APAC gold miners were supported. (Newswires)

HSBC Holdings (HSBA LN) - HSBC Asset Management is launching a private equity fund targeting wealthy clients, offering exposure to secondary and co-investments from multiple general partners. Minimum investments start at USD 25,000, varying by jurisdiction, and the fund is aimed at investors across the UK, Europe, Asia, and the Middle East. (Newswires)

UK Budget - UK Chancellor Rachel Reeves has pencilled in November 26 for the date of the Budget, Huffington Post reports. (Huffington Post)

UK Defence/ Babcock (BAB LN) - UK in advanced talks to build warships for Denmark and Sweden, FT reports. Sources added that talks with Sweden were "very positive" but complex as the Swedish negotiators were also mulling offers from France. The discussions are reportedly focused on Type-31 frigates, which are primarily produced by Babcock (BAB LN). (FT)

OTHER UK COMPANIES

BROKER MOVES

BP (BP/ LN) upgraded to Equal Weight from Underweight at Morgan Stanley; PT raised to GBP 400 from GBP 347. Analysts highlight that Upstream portfolios remain in “rude health”. MS added it remains cautious on the sector, with its views remaining heavily influenced by oil and gas prices.

Ricardo (RCDO LN) downgraded to Hold from Buy at Berenberg

DAX

Mercedes Benz (MBG GY) - LG Energy Solution (373220 KS) wins battery order from a Mercedes Benz affiliate to supply batteries from 2029 to 2037. Contract estimated at USD 11bln. (Newswires)

Volkswagen (VOW3 GY) – Adjusting ID.4 production in Chattanooga which will result in temporary furloughs for a small number of employees in October. (Newswires)

OTHER GERMAN COMPANIES

Nordex (NDX1 GY) – Co. received order for seven N133/4.8 turbines; wind farm exp. to generate 84mln KWG annually. (Newswires)

BROKER MOVES

Adidas (ADS GY) upgraded to Buy from Hold at Jefferies Shares +2.6% in pre-market trade

CAC

Airbus (AIR FP) - Etihad Airways CEO said the carrier will replace its Airbus A380 fleet with Boeing 777X from 2030, following a 28 wide-body order in May. He added the airline may expand further via the secondary market, including lessors and second-hand planes, beyond direct deals with Boeing and Airbus. (Newswires)

French Budget - French Finance Minister Lombard urges for a compromise on the 2026 Budget and says the deficit reduction plan will inevitably be less ambitious if the government falls, according to FT. Lombard is confident France will accomplish its GDP growth forecast of 0.6% this year, and says France is on track to reduce the deficit from 5.8% in 2024 to 5.4% in 2025. (Newswires)

OTHER FRENCH COMPANIES

Valneva SE (VLA FP) - Valneva SE announced positive immunogenicity and safety data for its Lyme vaccine VLA15-221. Phase 2 results showed a significant antibody response across serotypes. Pfizer plans to submit a BLA to the FDA and an MAA to the EMA in 2026.

BROKER MOVES

PAN EUROPE

Aegon (AGN NA) – Co. to sell approx. 12.5mln shares in ASR Nederland (ASRNL NA) via an accelerated placing; shares represent 6% of ASR’s share capital; ASR to repurchase 15% of offering up to EUR 150mln. Aegon says deal is exp. to result in IFRS book gain of EUR 0.2bln. (Newswires)

European Defence Sector - US President Trump on Putin, says "very disappointed in him", via Scott Jennings Radio Show. On war in Ukraine, says will be doing something to help people live. (Newswires)

BROKER MOVES

Prosus (PRX NA) upgraded to Buy from Hold at Jefferies

SMI

Swiss Life (SLHN SW) – H1 (CHF): Net Income 602mln (prev. 632mln Y/Y), Fee Income 1.27bln (prev. 1.26bln Y/Y), GWP 12.1bln (prev. 11.7bln Y/Y). Aims to achieve a dividend payout ratio over 75% from 2025. (Newswires)

OTHER SWISS COMPANIES

Helvetia (HELN SW) – H1 (CHF): Underlying Net Income 320.1mln (prev. 258.5mln Y/Y), Revenue 4.62bln (prev. 4.54bln Y/Y). Confident will achieve its key financial targets. (Newswires)

BROKER MOVES

SCANDINAVIA

Novo Nordisk (NOVOB DC) - Danske Bank has cut Denmark’s 2025 growth forecast to 1.8% from 3.2%, citing weaker prospects for Novo Nordisk and revisions to historic data by the national statistics office. (Newswires)

BROKER MOVES

Equinor (EQNR NO) downgraded to Underweight from Equal Weight at Morgan Stanley

US

CLOSES: SPX -0.69% at 6,416, NDX -0.79% at 23,231, DJI -0.55%, RUT -0.60%.

SECTORS: Real Estate -1.74%, Industrials -1.06%, Technology -0.97%, Consumer Discretionary -0.95%, Financials -0.71%, Materials -0.59%, Communication Services -0.42%, Utilities -0.37%, Consumer Staples +0.07%, Health +0.07%, Energy +0.24%.

Apple (AAPL) - Co. loses lead AI robotics researcher to Meta (META) in latest exit, Bloomberg reports; Apple is now discussing internally whether to rely more on outside technology, rather than just homegrown models. (Newswires)

Google (GOOGL) - A US judge ruled Google will not have to sell Chrome or Android in the monopoly case but must share search data with rivals and stop exclusive distribution contracts. The decision, seen as a relief for Big Tech, sent Alphabet shares up over 6.7% in afterhours trading, though Google still faces a separate ad tech monopoly case. The federal judge ruled that Google does not need to divest its Chrome browser in the DoJ's antitrust case, calling a full divestiture “a poor fit”; the court accepted Google’s proposed remedies in full with some modifications and barred the company from entering exclusive internet search contracts. The US DoJ will be considering its options and weighing next steps regarding seeking additional relief after the search ruling. (Newswires)

NVIDIA (NVDA) - Co. said they've seen erroneous chatter claiming that NVDA is supply constrained and "sold out" of H100/H200; as they said at earnings, cloud partners can rent every H100/H200 they have online, but doesn't mean their unable to fulfil new orders. (Newswires)

US Holiday Spending - US holiday spending is expected to fall about 5% Y/Y, driven by Gen Z concerns over rising prices, tariffs, and higher living costs, according to a PricewaterhouseCoopers survey. This would be the first significant seasonal spending decline since 2020, Bloomberg reports. (Bloomberg)

03 Sep 2025 - 06:59- Exclusive- Source: Newsquawk