Newsquawk Daily European Equity Opening News - 5th January 2026

ASIA

APAC stocks were mostly higher as the region shrugged off the US strike on Venezuela and resumed last year's semiconductor-led rally which lifted the KOSPI to a record high, while TSMC shares also notched firm gains after Goldman Sachs raised its price target by 35% and its ADR's jumped late last week to become the sixth-largest company in the world by market cap. ASX 200 was flat as gains in mining and material stocks were counterbalanced by losses in the tech and consumer sectors. Nikkei 225 rallied on its first trading session of 2026 with notable strength in the heavy industries and semiconductor stocks. Hang Seng and Shanghai Comp traded mixed as the Hong Kong benchmark lagged and with the mainland buoyed on return from the New Year holiday closure, which saw the Shanghai Comp reclaim the 4,000 status, while participants digested the latest RatingDog Services PMI, which matched estimates at 52.0 (prev. 52.1) and the Composite figure slightly accelerated to 51.3 (prev. 51.2).

Chinese Data - Chinese RatingDog Services PMI (Dec) 52.0 vs. Exp. 52.0 (Prev. 52.1); Composite PMI (Dec) 51.3 (Prev. 51.2)

Japanese autos - Japan domestic auto sales excluding minicars rise 0.6% Y/Y in December, with Toyota (7203 JT)-branded vehicle sales in Japan increasing 3% Y/Y, Honda (7267 JT) Japan sales decline 5.9% Y/Y, while Nissan (7201 JT) Japan sales fell 20.5% Y/Y in December. (Newswires)

TSMC (TSM) - Goldman Sachs raised its price target on TSMC to TWD 2,330 (from 1,720) and maintained a Buy rating, citing strong AI-driven growth. The bank lifted 2026 and 2027 earnings estimates by up to 15%, saying rising token consumption keeps silicon demand ahead of supply. In APAC trading, TSMC's shares rose to a fresh record after Goldman's price hike.

Xiaomi (1810 HK) - Xiaomi raised its EV delivery target to 550k units for 2026, up 34% vs the 410k vehicles sold last year.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +1.03% at 5,851, Dax 40 +0.14% at 24,524, FTSE 100 +0.20% at 9,951, CAC 40 +0.56% at 8,195, FTSE MIB +0.96% at 45,374, IBEX 35 +1.07% at 17,492, PSI +1.66% at 8,400, SMI +0.20% at 13,267, AEX +1.71% at 968.

SECTORS: IT 2.49%, Utilities 1.64%, Industrials 1.26%, Energy 1.19%, Financials 0.63%, Consumer Disc 0.28%, Materials 0.07%, Telecoms 0.00%, Healthcare -0.13%, Consumer Stpl -0.25%

FTSE 100

Next (NXT LN) - Co. is reportedly mulling a bargain bid on LK Bennett, Sky News reports. (Sky News)

Shell (SHEL LN) - Co. is reportedly looking at a return to Venezuela to claim billions of dollars from new gas projects in the region, according to The Telegraph. (The Telegraph)

UK - UK PM Starmer said the UK should move to closer alignment with the European single market on an "issue-by-issue" basis if it is in the national interest, according to Reuters. (Reuters)

UK Economy - The Times Economists Survey highlights that experts believe that UK unemployment could rise to an eleven-year high in 2026, following Chancellor Reeves's latest budget. (The Times)

OTHER UK COMPANIES

BROKER MOVES

Johnson Matthey (JMAT LN) upgraded to Buy from Hold at Berenberg

DAX

OTHER GERMAN COMPANIES

Nordex (NDX1 GY) - Nordex Group receives orders totalling 508 MW in Canada, including a first order for the N175/6.X turbines. (Nordex)

BROKER MOVES

Continental (CON GY) upgraded to Market Perform from Underperform at Bernstein

CAC

Airbus (AIR FP) - Airbus SE delivered 793 aircraft in 2025, exceeding its revised annual target of 790, according to Bloomberg citing sources. Deliveries accelerated in the final days of the year. BBG said that the figures are preliminary and subject to slight change. (Bloomberg)

France-South America - France plans to ban food imports containing pesticides prohibited in the European Union, including mancozeb, glufosinate, thiophanate-methyl and carbendazim. PM Lecornu said a decree would be issued in coming days to suspend imports from South America or elsewhere with such residues.

Sanofi (SAN FP) - Sanofi’s Tzield accepted for priority review in the US for young children with stage 2 type 1 diabetes. (Sanofi)

OTHER FRENCH COMPANIES

Exor (EXO FP) - Co. and Ferrari (RACE IM) renew its shareholders' pact to 2029. The agreement provides for consultation arrangements designed to allow the parties to coordinate their positions on matters to be resolved at general meetings of Ferrari shareholders and sets out reciprocal rights of first offer in case of transfers of Ferrari shares to third parties. (Exor)

Klepierre (LI FP) - Co. announced the acquisition of Casamassima, a mall in Italy; no terms disclosed. (Klepierre)

BROKER MOVES

Alstom (ALO FP) downgraded to Hold from Buy at Kepler Cheuvreux

Eurofins Scientific (ERF FP) upgraded to Outperform from Underperform at BNP Paribas

PAN EUROPE

Argenx (ARGX BB) - Co. announces a leadership change. Tim Van Hauwermeiren to transition from CEO to Non-Executive Director and Chairman of Board of Directors and Karen Massey to transition from COO to CEO and Executive Director. (Argenx)

ECB - Eastern European countries are pushing for representation on the ECB’s Executive Board, with candidates from Estonia, Latvia and Croatia seeking to replace Vice President de Guindos when he leaves in May, alongside three further vacancies due by the end of 2027, Bloomberg reports. (Bloomberg)

TomTom (TOM2 NA) - Co. announced that the automotive software company of the Volkswagen Group, will use TomTom’s advanced Orbis Maps as a core component of automated driving systems developed by CARIAD. (TomTom)

BROKER MOVES

ASML (ASML NA) upgraded to Outperform from Market Perform at Bernstein; PT for ADR raised to USD 1,528/shr (prev. USD 935/shr). Analysts named the Co. as its top pick in European semiconductors for 2026.

BE Semiconductor (BESI NA) PT cut to EUR 165/shr (prev. EUR 169/shr); analysts cite slower adoption of fluxless thermo-compression bonding.

Banco BPM (BAMI IM) assumed with Underweight at Morgan Stanley

Intesa Sanpaolo (ISP IM) assumed with Overweight at Morgan Stanley

UniCredit (UCG IM) assumed with Equal Weight at Morgan Stanley

SMI

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

BROKER MOVES

US

CLOSES: SPX +0.15% at 6,856, NDX -0.17% at 25,206, DJI +0.62% at 48,363, RUT +0.96% at 2,506.

SECTORS: Energy +2.08%, Industrials +1.88%, Materials +1.51%, Utilities +1.19%, Health +0.44%, Financials +0.22%, Real Estate +0.05%, Technology +0.05%, Consumer Staples -0.16%, Communication Services -0.38%, Consumer Discretionary -1.14%.

Apple (AAPL) - Apple’s iPhone 17 series boosted the company’s recovery in China, lifting market share above 20% and pushing monthly shipments past 6mln units in November 2025, according to industry sources cited by DigiTimes, amid intensified competition in the smartphone market. (DigiTimes)

Chevron (CVX) - Former top Chevron executive is raising USD 2bln for Venezuelan oil projects as investors race to heed Trump’s call to pour “billions of dollars” into the country, according to FT. (FT)

Geopolitics / US-Venezuela - US President Trump announced on Saturday that the US successfully carried out a large-scale strike against Venezuela, while he added that President Maduro and his wife were captured and flown out of Venezuela. US President Trump said they are ready to stage a second strike if necessary and had assumed a second wave was needed, but now probably not. Trump also commented that they are going to run Venezuela until such a time that they can do a safe, proper and judicious transition, while he added they are going to run Venezuela with a group and will get oil flowing like it should be, with Trump anticipating US oil producers spending billions in Venezuela.

Potential movers related to US-Venezuela - Energy Names: Analysts at Panmure Liberum write that “The big winners are going to be the US majors, Chevron in particular because it is already active in Venezuela". Thereafter, the likes of BP (BP/ LN) and Shell (SHEL LN) will be invited to projects as US peers look to spread risk. Distressed Lenders: Ashmore (ASHM LN), Houlihan Lokey (HLI).

05 Jan 2026 - 06:58- Research Sheet- Source: Newsquawk