Newsquawk Daily European Equity Opening News - 4th September 2025

ASIA

APAC stocks followed suit to the mixed performance stateside, where tech and communications outperformed following the Google antitrust ruling, and participants digested dovish data and Fed rhetoric. ASX 200 advanced with the gains led higher by outperformance in the top-weighted financial sector and with tech stocks inspired by US counterparts. Nikkei 225 outperformed despite light catalysts, although Japan's trade negotiator Akazawa is scheduled to visit the US from today, while he noted that administrative issues have been resolved and will continue to push for a presidential order for what has been agreed on tariffs. Hang Seng and Shanghai Comp were pressured following a report that China is said to consider curbs on stock speculation to foster steady gains, while US-China frictions resurfaced following US President Trump's comments during the Victory Day parade and with China announcing anti-dumping duties on optical fibre from the US.

BYD (1211 HK) - Co. cuts 2025 sales target to 4.6mln vehicles from previous 5.5mln. (Newswires)

Chinese stocks - China is said to consider curbs on stock speculation to foster steady gains, according to Bloomberg. (Bloomberg)

US-China - China announces anti-dumping duties on optical fibre from US, according to Bloomberg. (Bloomberg)

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +0.60% at 5,323, Dax 40 +0.48% at 23,601, FTSE 100 +0.67% at 9,178, CAC 40 +0.86% at 7,720, FTSE MIB +0.14% at 41,785, IBEX 35 +0.56% at 14,787, PSI -0.38% at 7,648, SMI +0.90% at 12,197, AEX +0.50% at 888

SECTORS: Healthcare 1.81%, Industrials 1.03%, IT 1.01%, Consumer Disc 0.96%, Utilities 0.48%, Materials 0.39%, Consumer Stpl 0.39%, Financials 0.30%, Telecoms -0.51%, Energy -1.28%

FTSE 100

Anglo American (AAL LN) - Co. offers roughly 52.2mln Valterra Platinum shares, and proposes to sell 100% if remaining holding, Bloomberg reports. (Bloomberg)

Burberry (BRBY LN) - Co. is to rejoin UK's FTSE 100 index after one-year absence, Bloomberg reports. This follows on from previous reports that Metlen Energy and Metals (MTLN LN) will also join the index, whilst Taylor Wimpey (TW/ LN) and Unite (UTG LN) will exit the FTSE 100. The changes will occur on September 19 and take effect from the start of trading on September 22. (Bloomberg)

Ex-dividends - Antofagasta (ANTO LN), Prudential (PRU LN) and Admiral Group (ADM LN) will trade without entitlement to their latest dividend pay-out. (Newswires)

Lloyds (LLOY LN) - Co. is said to be putting thousands of workers at risk of dismissal in performance overhaul, according to FT. (FT)

Unilever (ULVR LN) - Co. plans to replace approx. 25% of its top 200 leaders amid a broad shakeup under the new CEO, WSJ reports. (WSJ)

UK Budget - UK Chancellor Reeves has dismissed forecasts of a GBP 50bln "black hole" in the public finances, despite higher borrowing costs and expected tax rises piling pressure on the chancellor ahead of the autumn Budget, via BBC. Reeves has two rules on government borrowing, which she has repeatedly said are "non-negotiable". 1) To get debt falling as a share of national income by the end of this parliament in 2029-30; 2) day-to-day government costs will be paid for by tax income, rather than borrowing by 2029-30. Niesr had "more than most got their numbers wrong in the last few years". (Newswires)

OTHER UK COMPANIES

BROKER MOVES

DAX

German steel / auto names - German Chancellor Merz said he will invite steel and auto companies to discuss sector challenges. (Newswires)

OTHER GERMAN COMPANIES

TeamViewer (TMV GY) - Co. secondary ABO orders were below EUR 9.20/shr; books were multiple times covered at that level, according to Reuters citing a bookrunner. (Reuters)

BROKER MOVES

CAC

Airbus (AIR FP) - Co. delivered 61 jets in August, according to Reuters citing sources. (Reuters) Earlier in the week, Reuters reported that Airbus (AIR FP) delivered c. 60 jets in August

Sanofi (SAN FP) - Sanofi's amlitelimab met all primary and key secondary endpoints in the COAST 1 phase 3 study in adults and adolescents with atopic dermatitis. (Newswires)

OTHER FRENCH COMPANIES

BioMerieux (BIM FP) - H1 (EUR): Net Sales 2.04bln (co. consensus 2.07bln Y/Y). Outlook 2025: Now expects sales organic growth by 6-7.5% (prev. saw "at least" +7%). (Newswires)

Euronext (ENX FP) - Co. to repurchase 101k shares under incentive plan; to run between 4 Sept to 6 Oct 2025. (Newswires)

GTT (GTT FP) - Received an order from Hanwha Ocean for tank design of two new LNG carriers for the US market. Delivery of the vessels is scheduled in Q1'28 (Newswires)

Nexans (NEX FP) - Nexans ABO orders below EUR 121.59.shr; multiple times covered at that level. (Newswires)

BROKER MOVES

PAN EUROPE

ArcelorMittal (MT NA) - ArcelorMittal sale talks with South Africa’s state-owned Industrial Development are stalled over valuation differences, Bloomberg reports. ArcelorMittal seeks significantly more than the IDC’s offer for its local unit. An agreement may still be reached before the due diligence period ends on September 30th, sources said. (Bloomberg)

BMPS (BMPS IM) / Mediobanca (MB IM) - Shareholder take-up in BMPS bid for Mediobanca exceeded the minimum threshold of 25% of Mediobanca's capital. (Newswires)

Iberdrola (IBE SM) - US is reconsidering the approval of Iberdrola's New England offshore wind farm off Massachusetts, via Reuters citing a court filing. (Newswires)

Proximus (PROX BB) - Co. and AG enter partnership to invest in the Doktr. (Newswires)

BROKER MOVES

SMI

SGS (SGSN SW) - Announces the successful launch of a EUR 1bln senior bond offering. (Newswires)

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

BROKER MOVES

US

CLOSES: SPX +0.51% at 6,448, NDX +0.79% at 23,415, DJI -0.05% at 45,271, RUT -0.10% at 2,350

SECTORS: Energy -2.30%, Materials -0.53%, Industrials -0.48%, Health -0.41%, Real Estate -0.20%, Utilities -0.20%, Financials -0.16%, Consumer Staples +0.02%, Consumer Discretionary +0.43%, Technology +0.82%, Communication Services +3.76%.

Alphabet (GOOG) - France’s data protection authority fined Google EUR 325mln for displaying ads in Gmail and using cookies without user consent. Google and its Irish subsidiary have six months to comply or face daily penalties of EUR 100,000. Google said it is reviewing the decision and has made updates to address prior concerns.

ExxonMobil (XOM) - Co. is considering selling plants in the UK and Belgium, according to FT

HP Enterprise (HPE) - Shares rose 1.4% in extended trading after a Q3 beat, though analysts remained cautious due to margin concerns. Q3 EPS 0.44 (exp. 0.42), Q3 revenue USD 9.1bln (exp. 8.83bln); Q3 ARR +77% Y/Y at USD 3.1bln.CEO said server unit margins fell to 6.4% from 10.8% Y/Y but should recover to around 10% this quarter; he noted the company is managing near-term profit squeeze while positioning for stronger AI-driven demand. Sees Q4 EPS between 0.56–0.60 (exp. 0.58), and Q4 revenue between USD 9.7–10.1bln (exp. 10.13bln). For the FY25, EPS is projected between 1.88–1.92 (exp. 1.87), and revenue growth is seen between +14-16% Y/Y.

Salesforce (CRM) - Salesforce shares slipped 6% in extended US trading; although it beat in Q2, its guidance was soft, and analysts said it points to muted growth, raising concerns that its AI products are not yet delivering expected uplift amid intensifying competition. Q2 EPS 2.91 (exp. 2.78), revenue USD 10.24bln (exp. 10.14bln). Q2 cRPO USD 29.4bln (+11% Y/Y); Data Cloud & AI ARR was above USD 1.2bln (+120% Y/Y). Sees Q3 EPS 2.84–2.86 (exp. 2.85), Q3 revenue between USD 10.24–10.29bln (exp. 10.28bln). Sees FY26 EPS between 11.33–11.37 (exp. 11.29), and FY revenue between USD 41.1–41.3bln (exp. 41.24bln).

US Tariffs - President Trump asked the US Supreme Court to quickly overturn a federal ruling that struck down his administration’s global tariffs. The DoJ urged an accelerated timeline, citing legal uncertainty affecting foreign policy, including India-Russia oil trade. Follows a Federal Circuit last week ruling that the tariffs are illegal but stayed its decision pending Supreme Court review.

04 Sep 2025 - 06:48- MetalsResearch Sheet- Source: Newsquawk