Newsquawk Daily European Equity Opening News - 7th October 2025

ASIA

APAC stocks traded mixed despite the tech-led advances on Wall St with several holiday closures including Mainland China, Hong Kong and South Korea, while Japanese stocks rallied again as the post-LDP election euphoria persisted. ASX 200 was subdued amid losses in Telecoms, Consumer Discretionary and Tech, with sentiment also not helped by weaker Consumer Confidence. Nikkei 225 printed fresh record highs once again amid ongoing tailwinds from the dovish expectations associated with the incoming Takaichi government, while Japanese Household Spending also topped forecasts.

BHP (BHP AT) - Co. says growing political interference threatens mining deals, according to FT. (FT)

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.36% at 5,631, Dax 40 +0.07% at 24,396, FTSE 100 -0.15% at 9,477, CAC 40 -1.36% at 7,972, FTSE MIB -0.29% at 43,132, IBEX 35 -0.08% at 15,573, PSI +0.78% at 8,178, SMI +0.28% at 12,544, AEX +0.56% at 967

SECTORS: Energy 1.49%, IT 1.35%, Healthcare 0.48%, Utilities 0.17%, Financials -0.19%, Telecoms -0.23%, Consumer Stpl -0.24%, Materials -0.26%, Industrials -0.42%, Consumer Disc -0.78%

FTSE 100

Glencore (GLEN LN) - Co. to receive government support for its Mount Isa Copper smelter to remain in operation. (AFR)

Rio Tinto (RIO LN) - Co. Robe River JV with Mitsui (8031 JT) and Nippon Steel (5401 JT) is to invest USD 733mln to develop West Angelas sustaining project. Rio’s share is USD 389mln. The project, approved by State and Federal authorities, will sustain 35mln tonnes annual production, create 600 construction jobs, and first ore is expected in 2027. (Newswires)

UK Budget - UK Chancellor Rachel Reeves is set to receive an unexpected GBP 5bln boost to her budget plans from inflation, which raises the taxable value of incomes, profits, and prices. The gain offsets higher debt servicing costs, helping narrow the UK’s projected GBP 20-30bln budget shortfall ahead of the November 26th budget, Bloomberg said. (Bloomberg)

OTHER UK COMPANIES

BROKER MOVES

Rentokil (RTO LN) upgraded to Outperform from Underperform at Bernstein

DAX

OTHER GERMAN COMPANIES

BROKER MOVES

Nordex (NDX1 GY) - Co. secured orders from WPD with a total volume of nearly 126MW in Germany. (Newswires)

Wacker Chemie (WCH GY) downgraded to Neutral from Buy at Citi Shares -2% in pre-market trade

CAC

Airbus (AIR FP) - Co. signs a major supply contract with Sabca; incl. nozzle activation systems for main engines. (Newswires)

French politics - French President Macron said he has asked outgoing PM Lecornu to hold final talks with political partners to stabilise the country. French President Macron reportedly believes the current political situation can be turned around and the Socialist Party and Les Republicans will return to the negotiating table, via Politico citing sources. (Newswires / Politico)

OTHER FRENCH COMPANIES

BROKER MOVES

Getlink (GET FP) downgraded to Hold from Buy at Jefferies; analysts cite rising taxes in France/UK and slower economic growth.

Nexans (NEX FP) downgraded to Hold from Buy at Jefferies

PAN EUROPE

Ferrovial (FER SM) - Announces redemption of Treasury shares; to redeem up to 10.5mln Treasury shares, with up to 4.2mln shares bought under the 2025 program. (Newswires)

Naturgy Energy (NTGY SM) - Launches ABB offering to sell up to 34.1mln shares, which represent around 3.5% of the co.’s share capital; aims to return shares to the market. (Newswires)

Trade / Trucks - US President Trump says all medium and heavy-duty trucks coming into the US from other Countries will be tariffed at 25%, beginning November 1st, 2025. (Newswires)

BROKER MOVES

ASML (ASML NA) PT upgrade to EUR 1,050 (prev. EUR 825) at Citi

Enel (ENEL IM) downgraded to Hold from Buy at HSBC

Endesa (ELE SM) downgraded to Hold from Buy at HSBC

SMI

OTHER SWISS COMPANIES

Georg Fischer (GF SW) - Co. has signed an agreement to divest its Iron Foundry in Germany; transaction value is approx. EUR 45mln and is exp. by end-2025. (Newswires)

BROKER MOVES

VAT Group (VACN SW) initiated with Outperform at Citi.

SCANDINAVIA

Novo Nordisk (NOVOB DC) - Reuters reports that the Co. fired at least several dozen staff at its US Wegovy manufacturing site; the piece suggests the layoffs were focused on staff in manufacturing and quality control technicians. (Reuters)

Orsted (ORSTED DC) - Co. investors take up about 99.3% of shares in offering, Bloomberg reports. Co. completed its planned capital increase of EUR 8.04bln and was oversubscribed. (Bloomberg) Sydbank analyst Pederson said "it is even a roaring success. At the very least, it is a significant success"

Skanska (SKAB SS) - Co. constructs standby power generation in Newark for around USD 148mln. (Newswires)

Veidekke (VEI NO) - Co. to build cultural centre for Sigtuna Municipality; contract worth around SEK 117mln. (Newswires)

BROKER MOVES

UPM Kymmene (UPM FH) downgraded to Hold from Buy at Jefferies.

US

CLOSES: SPX +0.36% at 6,740, NDX +0.78% at 24,979, DJI -0.14% at 46,695, RUT +0.41% at 2,486

SECTORS: Real Estate -0.99%, Consumer Staples -0.59%, Health -0.48%, Financials -0.11%, Materials +0.01%, Industrials +0.47%, Energy +0.52%, Technology +0.57%, Communication Services +0.88%, Utilities +0.98%, Consumer Discretionary +1.05%.

CoreWeave (CRWV) - CoreWeave is to acquire UK-based Monolith AI, expanding its industrial AI capabilities by combining Monolith’s simulation-driven machine learning with CoreWeave’s cloud infrastructure. Terms were undisclosed. The deal follows recent purchases of OpenPipe and Weights & Biases, part of CoreWeave’s strategy to deepen AI offerings across manufacturing and engineering sectors.

Constellation Brands (STZ) - Shares rose 3% in extended trading after a Q2 top- and bottom-line beat, driven by strong beer and wine sales, and company cited continued robust demand for its beer portfolio as key to its outperformance. Q2 comparable EPS 3.63 (exp. 3.41), Q2 revenue USD 2.48bln (exp. 2.46bln). Beer business outperformed industry, exceeding beverage alcohol by 1ppt and beer category by nearly 2ppts in USD sales. Backs FY26 outlook, sees EPS between 11.30-11.60 (exp. 11.44), and organic net sales down 4-6%, ex the impacts from SVEDKA and 2025 Wine divestitures.

Exxon Mobil (XOM) - Exxon said Q3 earnings are expected to be boosted by up to USD 300mln from changes in liquids prices versus Q2, with gas price effects seen between USD -200mln and +200mln. The oil major said that industry margins are projected to lift energy products earnings by USD 300-700mln.

Ford (F) - A fire severely damaged part of Novelis’ Oswego, New York aluminium plant, which supplies roughly 40% of aluminium sheet used in the US auto industry. Ford, the largest user of the plant’s output, relies heavily on it for the F-150 pickup. The affected section will remain offline until early 2026, disrupting Ford’s production. The WSJ says Ford is likely to highlight potential impacts from the Novelis fire in its Q3 results later this month, noting the setback could affect output across key vehicle lines.

Trilogy Minerals (TMQ) - US reportedly to make investment in Trilogy Minerals, according to Bloomberg. (Bloomberg)

07 Oct 2025 - 06:49- Research Sheet- Source: Newsquawk