Newsquawk Daily European Equity Opening News - 6th March 2026

ASIA

APAC stocks traded somewhat mixed following the risk-averse mood in the US as geopolitics continued to dominate headlines, and with participants also cautious heading into key US jobs data. ASX 200 was dragged lower as the heavy losses in miners, materials and resources sectors offset the gains in tech and telecoms, while recent higher energy prices stoke inflationary concerns and narrow the policy space for the RBA. Nikkei 225 traded indecisively and swung between gains and losses with very little fresh macro catalysts for Japan. Hang Seng and Shanghai Comp trade higher, albeit to varying degrees, with the mainland rangebound, while Hong Kong outperforms amid tech strength and as participants reflected on recent earnings from the likes of JD.com and Bilibili.

EUROPEAN CLOSES:

CLOSES: Euro Stoxx 50 -1.46% at 5,785, Dax 40 -1.78% at 23,774, FTSE 100 -1.45% at 10,414, CAC 40 -1.49% at 8,046, FTSE MIB -1.61% at 44,609, IBEX 35 -1.38% at 17,245, PSI +0.01% at 8,932, SMI -1.48% at 13,311, AEX -0.45% at 996.

SECTORS: Energy 1.31%, Telecoms -0.09%, Consumer Disc -0.49%, Utilities -0.51%, IT -0.63%, Consumer Stpl -1.17%, Financials -1.54%, Healthcare -1.61%, Materials -2.20%, Industrials -2.50%

FTSE 100

Glencore (GLEN LN) - Glencore has reportedly offered a USD 800mln upfront prepayment in exchange for future ferrochrome shipments from Eurasian Resources Group, which would help finance Kazakh entrepreneur Shakhmurat Mutalip’s USD 1.4bln bid for a 40% stake in the miner, according to the FT. (FT)

Shell (SHEL LN) - Co. and the Venezuelan government have signed an agreement to boost offshore gas projects and explore onshore oil and gas. (Shell)

OTHER UK COMPANIES

BROKER MOVES

DAX

OTHER GERMAN COMPANIES

Lufthansa (LHA GY) - FY 2025 (EUR): Revenue 39.6bln (exp. 39.8bln, prev. 37.6bln Y/Y), net income 1.34bln (prev. 1.38bln Y/Y), sees increased forecast uncertainty due to Middle East situation. 2026 Guidance: Sees Adj. EBIT significantly above 2025. Revenue clearly increasing above 2025. Adj. FCF around 0.9bln (prev. 1.19bln Y/Y). Co. says it is considering boosting flights to Singapore, India and China. Sees sharp demand for Asia and Africa routes. (Lufthansa)

BROKER MOVES

Infineon (IFX GY) downgraded to Neutral from Buy at UBS

CAC

EssilorLuxottica (EL FP) - Co.’s heir reportedly seeks multibillion deal to buy out siblings. (Financial Times)

OTHER FRENCH COMPANIES

Atos (ATO FP) - FY 2025 (EUR): Revenue 8.0bln (exp. 8.03bln, prev. 9.58bln Y/Y), Net income -1.4bln (prev. 248mln Y/Y), Operating margin 351mln (prev. 199mln Y/Y). Net Income loss mostly included restructuring and other non-recurring charges in relation to the Genesis transformation plan. Co. confirms promising outlook with positive cash generation from 2026 and accelerating in 2027 and 2028. Co. is more focused on a new chapter of AI led growth. Confirmed promising outlook with positive cash generation from 2026 and accelerating in 2027 and 2028. (Atos)

Gaztransport & Technigaz (GTT FP) - Co. receives an order from Samsung Heavy Industries (010140 SK) for the tank design of a new LNG carrier. (Gaztransport & Technigaz)

Spie (SPIE FP) - FY 2025 (EUR): Revenue 10.4bln (exp. 10.4bln), Adj. Net Income 458mln, +9% Y/Y, Dividend/shr, EUR 1.08, +8% Y/Y. 2026 Outlook: Strong total growth, driven by further organic growth and active bolt-on M&A. Chairman and CEO Louette will not seek renewal. Co. names Holzke as CEO. (Spie)

BROKER MOVES

Airbus (AIR FP) upgraded to Buy from Neutral at Citi

BNP Paribas (BNP FP) upgraded to Outperform from Market Perform at Keefe Bruyette

Credit Agricole (ACA FP) upgraded to Market Perform from Underperform at Keefe Bruyette

PAN EUROPE

Argenx (ARGX BB) - Co. to present new data at 2026 AAN annual meeting that continue to transform patient outcomes in MG and CIDP and build upon the strength of the pipeline. (Argenx)

Universal Music Group (UMG NA) - FY 2025 (EUR): Revenue 12.5bln (exp. 12.3bln), Adj. EBITDA 2.81bln (exp. 2.8bln). Final dividend/shr proposal of EUR 0.28/shr. Recorded Music top sellers included Taylor Swift, the KPop Demon Hunters soundtrack, Olivia Dean, Stray Kids and Morgan Wallen. (Universal Music Group)

BROKER MOVES

SMI

Roche (ROG SW) / Zealand Pharma (ZEAL DC) - Cos announce positive Phase II results for petrelintide, an amylin analog developed for people living with overweight and obesity. Petrelintide achieved up to 10.7% mean body weight reduction at week 42 versus 1.7% with placebo while demonstrating placebo-like tolerability. (Roche / Zealand Pharma)

OTHER SWISS COMPANIES

BROKER MOVES

Adecco (ADEN SW) upgraded to Neutral from Sell at UBS

Galderma (GALD SW) upgraded to Buy from Hold at Deutsche Bank

Holcim (HOLN SW) upgraded to Buy from Neutral at Citi; analysts believe that the recent selloff in shares is “overdone”.

UBS (UBSG SW) upgraded to Market Perform from Underperform at Keefe Bruyette

SCANDINAVIA

EQT (EQT SS) - EQT Real Estate acquires a portfolio of 25 logistics properties across major U.S. distribution corridors from Mapletree. (EQT)

BROKER MOVES

Zealand Pharma (ZEAL DC) downgraded to Hold from Buy at Nordea

US

CLOSES: SPX -0.56% at 6,831, NDX -0.29% at 25,020, DJI -1.61% at 47,955, RUT -1.91% at 2,586

SECTORS: Consumer Staples -2.43%, Materials -2.27%, Industrials -2.21%, Health -1.98%, Real Estate -1.01%, Utilities -0.76%, Communication Services -0.65%, Financials -0.49%, Consumer Discretionary +0.26%, Technology +0.39%, Energy +0.59%

AI Chip Exports - US officials are considering new rules for exporting AI chips that could require foreign countries to invest in US AI data centres or provide security guarantees to access large shipments, Reuters reports. The proposal would introduce licensing and monitoring requirements for chip exports and mark a shift from the Biden-era approach that largely exempted close US allies. (Reuters)

Boeing (BA) - Director Mortimer Buckley purchased 2,230 shares on 3rd March, for a total USD 500. (Boeing)

Costco (COST) - Q2 EPS 4.58 (exp. 4.54), Q2 revenue USD 69.6bln (exp. 69.32bln); Q2 comp sales +7.4%. Paid executive memberships reached +9.5% Y/Y to 40.4mln; September 2024 US and Canada membership fee increase accounting for roughly one third of membership income growth. Management said tariffs remain highly fluid and complex, with recently removed tariffs replaced by new measures expected to remain in place for at least 150 days, making the precise product-level impact difficult to track. Said it lowered prices on several key items during the quarter including eggs, cheese, coffee and selected paper products. It noted that potential instability in the Middle East could affect fuel costs and shipping schedules. (Costco)

Gap (GAP) - Gap shares fell 6% in extended trading after it issued disappointing FY26 guidance, with investors concerned about tariff headwinds weighing on margins. Q4 EPS 0.45 (exp. 0.46), Q4 revenue USD 4.2bln (exp. 4.24bln); Q4 comp sales +3% Y/Y, the eighth straight quarter of positive comps; Gap brand +7%, Old Navy +3%, Banana Republic +4%, Athleta -10%. Authorised a new USD 1bln share repurchase programme. CEO said it is gaining market share across income groups, improving its balance sheet. Sees Q1 revenue growth of +1-2% Y/Y (exp. 3.53bln), expects Q1 gross margin to decline around 150-200bps, including roughly 200bps of tariff impact. Sees FY26 adj. EPS between 2.20-2.35 (exp. 2.33), FY26 revenue growth between +2-3% Y/Y (exp. 15.75bln), with an adj. operating margin of around 7.3-7.5%, and capex at around USD 650mln.r during FY27, supported by continued strength in the data centre business. (Gap)

Marvell Technology (MRVL) - Marvell shares rose +15% in extended trading after the chipmaker reported better than expected quarterly results, supported by robust demand for its AI-related products. Q4 adj. EPS 0.80 (exp. 0.79), Q4 revenue USD 2.22bln (exp. 2.21bln). CEO said growth was led by robust demand in data centre markets and highlighted record design wins during FY26, which are expected to support future growth as bookings continue to increase at a record pace. Sees Q1 EPS between 0.74-0.84 (exp. 0.74), sees Q1 revenue USD 2.4bln +/-5% (exp. 2.28bln), with gross margin expected between 58.25-59.25%; expects Y/Y revenue growth to accelerate each quart. (Marvell Technology)

Nike (NKE) - Nike will implement organisational changes aimed at improving efficiency and profitability, with estimated pre-tax charges of around USD 300mln for the nine months ending February 2026, related to employee severance costs. Most of the charges are expected to be recognised in Q3. (Nike)

Oracle (ORCL) - Co. reportedly plans thousands of jobs cuts as data center costs rise and Cloud unit pauses job hirings, according to Bloomberg. (Bloomberg)

06 Mar 2026 - 07:01- Research Sheet- Source: Newsquawk