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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.34%, DAX +0.47%, CAC +0.33%

Oct 02 ,2025

  • Synopsis

    • European equity markets are set to open in positive territory amid Asian equities trading higher Thursday. Semis/tech driving outperformance of Korea following latest Stargate supply deal, which is also translating to strength in Japan and Taiwan. Hong Kong advancing upon resumption of trade with Alibaba leading tech gains following JP Morgan PT upgrade. Mainland China closed for Golden Week break. S&P 500 futures flat afterhours. Bonds mixed with JGB yields reversing higher following soft 10Y auction. Treasuries unchanged. Dollar steady against majors. Crude recovering from mid-August lows. Gold fluctuating around record high. Bitcoin strengthening towards mid-August highs.

    • On today's agenda, in central banks, ECB's Montagner in fireside chat at 9:30CET at EC-EIB-ESM Capital Markets Seminar (Wed-Thu) with Bank of France's Villeroy speaking at 12noon CET at the seminar. ECB's de Guindos fireside chat at 19:00CET at ESADE Business School. John Cochrane to deliver SNB's Karl Brunner Distinguished Lecture Series.

    • Elsewhere, meeting of the European Political Community in Copenhagen, EU's von der Leyen participates. France's labor unions plan a day of anti-austerity protests and strikes. In Germany, BAFA 'Energy Day' with experts discussing current developments in the energy and heat transition

    • In the macroeconomic calendar: Spain Sep unemployment change, Italy Aug unemployment rate, Eurozone Aug unemployment rate, Switzerland Sep CPI, Greece Aug unemployment rate.

    • In corporate news, Brunello Cucinelli (BC.IM) reported yesterday after the close Q3 revenue and reaffirmed an expected revenue growth of ~ +10% for the year 2026. In the DACH region, this morning GRENKE (GLJ.GR) reported Q3 leasing new business €781.2M, +5.8% y/y. Other names in the region expected to update investor with their latest earnings/trading updates include: Kaufman & Broad (KOF.FP), Stolt-Nielsen (SNI.NO) and Tesco (TSCO.LN).

    • CMD/Events: Telecom Italia (TIT.IM) Unboxing TIM Enterprise at 14:00 CEST, Tecnicas Reunidas (TRE.SM), SIG Group (SIGN.SW), Metso Outotec (METSO.FH).

  • Politics/Macro/World News

    • Reeves braced for hole in UK public finances after productivity downgrade - FT

    • Reeves poised to back down on higher business rates for UK retailers - FT

    • 5 things we learned from the EU's summit in Copenhagen - Politico

    • Trump criticizes Beijing for stopping US soybean purchases, will raise issue with Xi - Truth Social

  • Top company news

    • Earnings/updates

      • CON.GR (Continental) -- expects high double-digit million-euro hit from US tariffs in H2, Q3 tyre division sales expected to remain stable y/y - Reuters

      • BC.IM (Brunello Cucinelli) -- reports Q3 revenue €335.5M vs FactSet €337.7M [2 est, €328.9-346.5M]

      • GLJ.GR (GRENKE) -- reports Q3 leasing new business €781.2M; +5.8% y/y

    • M&A

      • BP.LN (BP) -- BP's new board chair tells employees that company needs to accelerate shift from renewables to oil & gas, consider more asset sales -- Reuters, citing internal memo

      • III.LN (3i Group) -- said to be exploring exit options for Evernex including potential sale -- Bloomberg

      • G.IM (Assicurazioni Generali) -- Generali Investments completes acquisition of majority stake in MGG Investment Group

      • SHW (Sherwin-Williams) -- completes acquisition of BASF's Brazilian Architectural Paints business

      • ROG.SW (Roche Holding) -- commences tender offer for 89bio, Inc

      • EL.FP (EssilorLuxottica) -- completes acquisition of Optegra

      • SHL.GR (Siemens Healthineers) -- Siemens exploring spinoff of large part of 71% stake in Siemens Healthineers - Bloomberg

      • SGO.FP (Compagnie de Saint-Gobain) -- enters into exclusive negotiations with Ponsardin Industries for the sale of SFIC Belgium

      • HTO.GA (Hellenic Telecommunications Organization) -- confirms completes sale of mobile business in Romania; plans to distribute related ~€40M to shareholders

      • IVG.IM (Iveco Group) -- and DLL obtain regulatory approvals to enter into JV to facilitate the energy transition in Europe

      • RF.FP (Eurazeo) -- completes sale of Ultra Premium Direct to Inspired Pet Nutrition

      • PRT.IM (Esprinet) -- completes acquisition of Vamat

      • MAHA.A.SS (Maha Capital) -- announces divestment of working interest in Illinois Basin

    • Healthcare

      • NANO.FP (Nanobiotix) -- announces first data from phase 1 study evaluating JNJ-1900 (NBTXR3) for patients with esophageal cancer

      • HNSA.SS (Hansa Biopharma) -- carries out directed issue of 17.0M shares at SEK39.50/share to raise SEK671.5M (~$71.3M)

      • NWRN.SW (Newron Pharmaceuticals) -- to present new analyses and updates on its clinical program evaluating evenamide at ECNP Congress 2025

      • FYB.GR (Formycon) -- secures U.S. license date for proposed Aflibercept Biosimilar FYB203 following settlement and license agreement with Regeneron

      • IRLAB.A.SS (IRLAB Therapeutics) -- IRLAB progresses fully funded IRL757 study in Parkinson's Disease in partnership with MSRD

      • ALCOX.FP (Nicox) -- Nicox's NCX 470 Demonstrates Sustained Efficacy through 12 Months in Denali Clinical Trial with no new Safety Observations

    • Other

      • AF.FP (Air France-KLM) -- appoints Oltion Carkaxhija COO

      • KAP.LN (National Atomic Company Kazatomprom) -- Kazatomprom exploring new listing to boost valuation - Bloomberg

      • DG.FP (VINCI SA) -- implements share buyback program for up to €600M

      • CANTA.SS (Cantargia) -- appoints Wolfram Dempke as Chief Medical Officer, effective immediately; succeeds Morten Lind Jensen

  • Key rating changes

    • Upgrades

      • HSBC upgrades NOVO.B.DC, ROG.SW

      • RAA.GR (Rational) -- to overweight from equal weight at Barclays

      • RACE.IM (Ferrari) -- to buy from hold at HSBC

      • INWI.SS (Inwido) -- to buy at DNB Carnegie

      • HO.FP (Thales) -- to buy from hold at Kepler Cheuvreux

    • Downgrades

      • ARJO.B.SS (Arjo) -- to hold from buy at SEB

      • ENC.SM (ENCE Energia y Celulosa) -- to underperform from outperform at Oddo

      • ALTR.PL (Altri SGPS) -- to neutral from outperform at Oddo

      • HSBC downgrades ABBV

      • ORA.FP (Orange) -- to neutral from outperform at Oddo

    • Initiations

      • CCH.LN (Coca-Cola HBC) -- initiated overweight at Morgan Stanley

      • JSE.LN (Jadestone Energy Plc) -- initiated buy at Berenberg

  • Data

    • Nikkei +1.05% to 45019.87

    • Hang Seng +1.68% to 27306.70

    • Shanghai Composite +0.00% to 3882.78

    • S&P futures +6.8 vs prior close of 6761.5

    • €-$ +0.0003 or +0.03% to 1.1735

    • $-¥ +0.11 or +0.08% to 147.19

    • €-¥ +0.21 or +0.12% to 172.73

This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
Please refer to "Terms Of Use".

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