Newsquawk Daily European Equity Opening News - 8th September 2025

ASIA

APAC stocks began the week mostly positive but with some of the gains capped amid several key market themes, including last Friday's disappointing US jobs data and the subsequent boost in Fed rate cut bets, as well as Japanese PM Ishiba's resignation announcement and the latest Chinese trade data. ASX 200 was dragged lower by weakness in energy, utilities and financials, while participants also reflect on the latest Chinese trade data. Nikkei 225 outperformed amid a weaker currency and as the political uncertainty following Japanese PM Ishiba's resignation, was seen as potentially delaying the BoJ resuming its rate hikes, while upward revisions to Q2 GDP added to the heightened risk appetite in Tokyo. Hang Seng and Shanghai Comp were ultimately positive but with cautiousness seen amid the latest Chinese trade data in which exports and imports missed forecasts, while there was also a recent report that US-China trade talks have made little progress towards a deal, and an impasse was hit on the fentanyl issue.

Chinese EVs - Canadian PM Carney says it is too early to come to conclusions on whether Canada will lift its 100% tariffs on Chinese-made EVs. (Newswires)

LG Electronics (066570 KS) is set to launch INR 150bln IPO in India this October, according to Economic Times

Hyundai Motor (005380 KS) - South Korea says a deal was reached with the US to release workers in the Hyundai Motor raid, according to WSJ. (WSJ)

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.47% at 5,321, Dax 40 -0.75% at 23,592, FTSE 100 -0.09% at 9,208, CAC 40 -0.31% at 7,675, FTSE MIB -0.91% at 41,608, IBEX 35 -0.53% at 14,839, PSI -0.58% at 7,704, SMI -0.10% at 12,376, AEX -0.17% at 899

SECTORS: Utilities 0.52%, Materials 0.50%, IT 0.37%, Consumer Disc 0.33%, Industrials 0.25%, Telecoms -0.02%, Consumer Stpl -0.08%, Healthcare -0.26%, Financials -0.82%, Energy -2.12%

FTSE 100

AstraZeneca (AZN LN) - AstraZeneca reported positive final overall survival results from the FLAURA2 Phase III trial, showing TAGRISSO plus pemetrexed and platinum-based chemotherapy significantly improved OS versus TAGRISSO monotherapy in 1st-line treatment of locally advanced or metastatic EGFR-mutated NSCLC.

Lloyds (LLOY LN) - Sky News reports that Lloyds could announce the acquisition of Curve for around GBP 120mln, as soon as this week. (Sky News)

UK Supermarkets - Food retailers including Tesco (TSCO LN), Sainsburys (SRBY LN) and Aldi are urging grain traders to uphold Brazil's soy moratorium. (Newswires)

OTHER UK COMPANIES

Hargreaves Lansdown (HL/ LN) / Schroders (SDR LN) / Private Markets - Hargreaves Lansdown and Schroders are reportedly set to offer private/unlisted companies to their customers. (FT)

BROKER MOVES

Jet2 (JET2 LN) resumed with Buy at Peel Hunt

Marks & Spencer (MKS LN) upgraded to Buy from Neutral at Citi

DAX

BMW (BMW GY) - BMW expects to return to growth in China with its all-electric Neue Klasse series, beginning with the iX3 SUV, launching by summer 2026, Reuters reports. Batteries in the new models are 40-50% cheaper, supporting margin parity with combustion-engine cars. (Newswires)

Hannover Re (HNR1 GY) - Co. anticipates continued attractive market environment in 2026 renewals. Sees stable/slightly lower reinsurance prices in its business. Prices under loss-impacted programmes are exp. to rise. (Newswires)

RWE (RWE GY) - Co. and Apollo Global Management form a JV; Apollo to pay EUR 3.2bln to RWE in exchange for an equity stake in a newly established JV. (Newswires)

Nordex (NDX1 GY) - Co. received new order for 71 MW in Portugal. Contract incl. 35-year service agreement for turbines. (Newswires)

Mercedes Benz (MBG GY) - CEO said Brussels and the US are working on lower US auto import tariffs and hopes for an execution order soon. On China, says co. remains committed to premium prices and plans no change to current strategy. Is confident that new GLC model will recover lost ground in China. (Newswires)

Volkswagen (VOW3 GY) - CEO confirmed that the double CEO role with Porsche AG (P911 GY) is temporary, but no decision has been made on timing. (Newswires)

OTHER GERMAN COMPANIES

HelloFresh (HFG GY) - Co-Founder and International CEO Griesel is to depart by April 2026. (Newswires)

Kontron (KTN GY) - US tariff exemption for Kontron products; avoids US import duties for 85-90% of products. (Newswires)

BROKER MOVES

Grand City Properties (GYC GY) upgraded to Buy from Hold at Jefferies

Henkel (HEN3 GY) upgraded to Outperform from Neutral at BNP Paribas

Vonovia (VNA GY) upgraded to Buy from Hold at Jefferies

CAC

OTHER FRENCH COMPANIES

Alstom (ALO FP) - Co. was awarded a EUR 538mln contract in New Zealand for 18 Adessia Stream B battery trains and 35 years of maintenance. (Newswire)

BROKER MOVES

Sanofi (SAN FP) upgraded to Overweight from Equal Weight at Morgan Stanley

PAN EUROPE

ASML Holding (ASML), Mistral AI - ASML is set to become the top shareholder in French AI startup Mistral AI, investing EUR 1.3bln in Mistral’s EUR 1.7bln Series C round, Reuters reports. The investment values Mistral at EUR 10bln, and aims to strengthen European tech sovereignty. ASML is expected to receive a board seat.

Alcohol names - The NYT writes that the US HHS has scrapped its government report which warned of a link between cancer and drinking "small amounts of alcohol". (NYT)

Auto Names / EV - Over 150 bosses within the European electric car industry have signed a letter on Monday which has urged the letter not to delay its CO2 emission targets. (Newswires)

China-exposed Stocks - Chinese Trade Balance USD (Aug) 102.3B vs. Exp. 99.2B (Prev. 98.24B). Chinese Trade Balance USD (Aug) 102.33B vs. Exp. 99.2B (Prev. 98.24B). Chinese Imports YY (Aug) 1.3% vs. Exp. 3.0% (Prev. 4.1%). Chinese Exports YY (Aug) 4.4% vs. Exp. 5.0% (Prev. 7.2%). (Newswires)

Defence Stocks - US President Trump said he is not happy about the Russia-Ukraine situation and thinks it will get settled, European leaders are coming individually to the US on Monday and Tuesday. Trump plans to speak to Russian President Putin very soon, and thinks will have a deal on Gaza very soon. (Newswires) US and EU plan to discuss new Russia sanctions on Monday, via AP News. (AP News).

EU Autos, Stellantis (STLA) - Stellantis CEO urged the European Union to take action to support the continent’s automotive industry amid rising competition from Chinese manufacturers. Ahead of the Munich auto show and a Brussels automotive meeting, CEO called for more flexible EU emission targets, echoing prior appeals from Stellantis Chairman and ex-Renault (RNO FP) CEO Luca de Meo. (Bloomberg)

Edison - Bloomberg reports that EDF is said to consider relisting Edison in Milan. (Bloomberg)

EU-US Trade - US President Trump on Friday criticised EU fines on tech companies, says cannot allow this to stand, if it does, will be forced to start a Section 301 proceeding to nullify the unfair penalties being charged to these taxpaying American companies. US President Trump on Friday criticises the EU's practice against Google (GOOGL). (Truth Social)

Iberdrola (IBE SM) - Co. and DXC successfully complete major tech modernisation product. (Newswires)

Oil Stocks - Oil prices gained following the decision by 8 OPEC+ members to continue hiking production for October, albeit at a slower pace of increase of 137k bpd (prev. 547k increase for September), while Goldman Sachs noted the decision to start gradually unwinding the 1.65mln bpd of cuts likely reflects that OECD commercial stocks remain low.

OMV (OMV AV) - In a volatile and difficult market environment, possible adjustments of any kind are necessary to ensure success in the future. (Newswires)

Steel names - The FT writes that European steelmakers have called on the EU to impose US-style tariffs on all imports of steel, citing pressure related to cheap Chinese products and Trump's high duties. (FT)

Tobacco Names - US FDA is to fast-track nicotine pouch reviews amidst pressure from the Trump administration; reviews are reportedly for pouches from Philip Morris (PM), Altria (MO) and British American Tobacco's (BATS LN) subsidiary Reynolds American. (Reuters)

Vopak (VPK NA) - Terqimsa JV divests its Barcelona terminal to Tradebe Port Services, terms undisclosed. (Newswires)

BROKER MOVES

SMI

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Swedbank (SWEDA SS) - The SEC closes its investigation in the Co. (Newswires)

BROKER MOVES

Kojamo (KOJAMO FH) initiated with Buy at Jefferies

US

CLOSES: SPX -0.32% at 6,482, NDX +0.08% at 23,652, DJI -0.48% at 45,401, RUT +0.48% at 2,391

SECTORS: Energy -2.06%, Financials -1.84%, Industrials -0.40%, Utilities -0.34%, Technology -0.21%, Consumer Discretionary -0.12%, Consumer Staples +0.16%, Health +0.32%, Materials +0.53%, Communication Services +0.55%, Real Estate +0.98%.

Intel Corp (INTC) - Co. files prospectus for resale of warrant and shares, via SEC filing. (Newswires)

Halliburton (HAL) - Co. is reportedly cutting staff, although the number is unclear, according to Reuters sources. (Newswires)

Kenvue's (KVUE) - HHS says claims about report tying Kenvue's Tylenol to autism is speculation, according to Bloomberg. (Bloomberg)

S&P 500 (SPX) - AppLovin (APP), Robinhood (HOOD) and Emcor (EME) will join the S&P 500, replacing MarketAxess (MKTX), Caesars (CZR) and Enphase (ENPH), effective prior to the open of trading on September 22nd, to coincide with the quarterly rebalance. Charter (CHTR) will exit the S&P 100 but remain in the S&P 500.

08 Sep 2025 - 06:59- Research Sheet- Source: Newsquawk