Oct 30 ,2026
Synopsis
European indices are set to open mixed with Asian equities on another downward trajectory to round off a difficult week and month. Very steep declines in South Korea's tech chain although finishing off their lows,
BOJ left the policy rate unchanged at 1.25% as widely expected. Vote count was 8-1;
Major US equity indices finished mostly lower in Thursday trading. However, breadth was very positive, with equal-weight outperforming the cap-weighted index by ~150 bp.
Google under pressure following mostly softer Q3 results. Search a key area of scrutiny as growth slowed to +12% from +17% in Q2,
Friday sees, in central banks, Bank of Italy's Panetta speech at World Savings Day. Croatia central bank's Švaljek presentation at 9:00CET on the occasion of World Savings Day at event organized by the Croatian Chamber of Economy. BOE's Mills speech at 9:00GMT at conf co-hosted by Univ. of Exeter and South West Business Council.
Economic data due today: Germany Q3 preliminary GDP, Oct preliminary CPI, unemployment rate, France Q3 preliminary GDP, Oct preliminary CPI, Sep consumer goods spending, PPI, Italy Q3 preliminary GDP, Oct preliminary CPI, Spain Q3 preliminary GDP, Oct preliminary CPI, Eurozone Q3 preliminary GDP, Sep unemployment rate, Switzerland Oct leading indicator - KOF, Sep retail sales, UK Oct house price index - Lloyds Bank, Portugal Q3 preliminary GDP, Oct preliminary CPI, Netherlands Q3 preliminary GDP, Sep PPI, Greece Sep unemployment rate, PPI, Belgium Sep PPI, Aug retail sales, Norway Oct retail sales, Denmark Sep unemployment rate, Finland Q3 preliminary GDP, Austria Q3 preliminary GDP, Sep PPI
Earnings reported so far today: (GXI.GR) Gerresheimer, Trifork Holding (TRIFOR.DC), Heijmans (HEIJM.NA), (AKTIA.FH) Aktia Bank, (SCOR) SCR.FP, Scatec (SCATCH.NO), (ACA.FP) Credit Agricole, (FUCHS) FPE3.GR, (FUR.NA) Fugro, (SPIE.FP) SPIE, (CAP.FP) Capgemini.
Holidays: Sweden (early close for All Saint's Day)
Politics/Macro/World News
Top company news
Earnings/updates
UMG.NA (Universal Music Group) -- reports Q3 adjusted EBITDA €729.0M vs consensus €691.0M
CAP.FP (Capgemini) -- reports Q3 revenue €6.07B vs StreetAccount €5.99B; c.FX growth +11.7% vs StreetAccount +10.3%; Upgrades 2026 financial targets
CS.FP (AXA) -- reports 9M Gross written premiums & other revenues €93B vs consensus €92.73B
CABK.SM (CaixaBank) -- reports Q3 net income attributable €1.76B vs consensus €1.63B
CABK.SM (CaixaBank) -- announces costs remain on track with guidance - slides
AMP.IM (Amplifon) -- reports Q3 net income €26.6M vs FactSet €17.8M [6 est, €9.6-27.4M]
ETL.FP (Eutelsat Communications) -- reports Q1 revenue €286.0M vs consensus €299.0M; confirm FY26-27 financial objectives
SPIE.FP (SPIE) -- reports Q3 revenue €2.89B vs FactSet €2.85B [3 est, €2.82-2.88B]
PSM.GR (ProSiebenSat.1 Media) -- updates FY26 guidance
EUROB.GA (Eurobank SA) -- reports Q3 adjusted net income €432.6M vs FactSet €413.1M
PHM.SM (Pharma Mar) -- reports 9M net income €8.7M vs year-ago €15.3M
FPE3.GR (FUCHS SE) -- reports 9M EPS €2.14 vs year-ago €1.73
TFI.FP (TF1) -- reports Q3 net income attributable €21M vs consensus €12.9M; 2026 targets maintained, with visibility remaining limited
EMEIS.FP (Emeis SA) -- reports Q3 revenue €1.53B, +4% vs year-ago €1.48B
FUR.NA (Fugro) -- reports Q3 revenue €525.2M vs FactSet €470.0M [4 est, €445-490M]
NK.FP (Imerys) -- reports Q3 net income €43M, +10% vs year-ago €39M
PRS.SM (Promotora de Informaciones) -- reports 9M revenue €719M, +18% vs year-ago €609M
XFAB.FP (X-FAB Silicon Foundries) -- reports Q3 net income ($2.8M) vs FactSet ($7.0M) [2 est, ($11.9)-(2M)]
ECMPA.NA (Eurocommercial Properties) -- reports 9M EPS €2.42 vs year-ago €1.37
ADOC.FP (Adocia) -- reports Q3 revenue €0.0M vs year-ago €0.4M; reaffirms cash runway extended to Q1 of 2028
MTU.FP (Manitou BF) -- reports Q3 revenue €642M, +13% vs year-ago €568M
P86.GR (Paradigm Biopharmaceuticals) -- reports Q1 net cash from / (used in) operating activities (A$13.5M) - Appendix 4C
ALMDT.FP (MEDIAN Technologies) -- reports H1 net income (€26.9M) vs year-ago (€9.2M); cash runway through H1 of 2028 with potential to extend into H1 of 2029
F3C.GR (SFC Energy) -- raises FY2026 earnings guidance
M&A
EVK.GR (Evonik Industries) -- Evonik to say no to BASF's €24/share offer - FT
VU.FP (VusionGroup) -- Vusion Completes Acquisition of In-Store Media
ECMPA.NA (Eurocommercial Properties) -- acquires Les Grands Prés, in Belgium and launches capital raise of 5.2M new shares via an accelerated bookbuild offering
9532.JP (Osaka Gas) -- Enagas completes the acquisition of of an additional 20% stake in Planta de Regasificación de Sagunto (Saggas) from Osaka Gas
Pacific National seeking to sell business in one line - The Australian
Healthcare
BAYN.GR (Bayer AG) -- Missouri jury rules unanimously for Monsanto in Theresa Aretino, et al. v. Monsanto
SOBI.SS (Swedish Orphan Biovitrum) -- discloses Chairman David Meek will not seek re-election at 2027 Annual General Meeting in May '27
PHM.SM (Pharma Mar) -- resolves to appoint Elena Calleja Crespo as CFO effective 1-Jan-27; to succeed María Luisa de Francia Caballero
OSE.FP (OSE Immunotherapeutics) -- reports additional results of Combi-TED Phase 2 trial with Tedopi (OSE2101) in metastatic Non-Small Cell Lung Cancer (NSCLC)
Other
BT.A.LN (BT Group) -- Virgin Media O2 approaching deal to use BT's broadband network - FT
BAER.SW (Julius Baer Group) -- Ltd. will launch its previously announced new share buy-back programme of up to a total value of CHF 600M on 2-Nov-26.
FRVIA.FP (Forvia) -- and Raiqon enter strategic AI partnership
ELI.BB (Elia Group SA/NV) -- Elia Transmission Belgium publishes the results of three Capacity Remuneration Mechanism (CRM) auctions, covering the 2027-28, 2028-29, and 2030-31 supply periods
NTZA.GR (Natuzzi) -- calls special shareholder meeting to approve capital increase and rights issue - 6-K
Focus on AI spending, cloud growth in Amazon results later today; AI-link stocks remain lower while Pure Plays see pockets of strength in intraday themes (29-Oct)
Rio Tinto confirms occurrence of seismic activity along a rock fault zone at Oyu Tolgoi in Mongolia; reports zero fatalities - company website
Underground operations at Oyu Tolgoi temporarily suspended -- Bloomberg
Key rating changes
Downgrades
WCH.GR (Wacker Chemie) -- to sell from hold at Deutsche Bank
WCH.GR (Wacker Chemie) -- to hold from buy at Berenberg
Data
Nikkei (2.44%) to 63082.27
Hang Seng +1.60% to 23325.43
Shanghai Composite (1.08%) to 3611.96
S&P futures (66.0) vs prior close of 7754.3
€-$ +0.0001 or +0.01% to 1.1184 $-¥ (0.16) or (0.10%) to 157.55
€-¥ (0.16) or (0.09%) to 176.17
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