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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.18%, DAX +0.24%, CAC40 +0.24%

Oct 03 ,2025

  • Synopsis

    • European indices are set to open higher as Asian equities trade mostly higher today. Hong Kong pulling back amid weakness in EV makers, tracking overnight selloff in Tesla (TSLA). US equities finished higher in Thursday trading, improving off mid-morning lows. Dow, S&P, and Nasdaq logged new record closes.

    • French PM Lecornu will meet far-right National Rally (RN) and Socialists (PS) on Friday to find a compromise on the budget ahead of forming a cabinet

    • Focus has also been on a US government shutdown that the market has viewed as more noise than news thus far. AI-driven global semi/tech rally another area of focus. Pickup in Fed easing expectations also on the front burner and still largely viewed as a tailwind for risk sentiment amid expectations the labor market slowdown will only be temporary.

    • Among central banks updates: ECB Lagarde speech at 11:40CET, Bank of France's Villeroy speech at 12:30, BOE Bailey speech at 15:20, ECB's Schnabel panellist at 15:50 at the Klaas Knott farewell symposium 'Macro-financial stability in a fragmenting world'.

    • Macroeconomic releases due today include: Italy, Spain, Sweden Sep services PMI with final reads for Eurozone, France, Germany, UK, France Aug industrial production, Italy Aug retail sales, Eurozone Aug PPI

  • Politics/Macro/World News

    • France's Lecornu Holds Pivotal Talks in Hunt for Budget Allies (BBG )

    • Italy Reaches 3% Deficit With Meloni Pushing Tax Cuts, Defense (BBG )

    • OBR poised to deliver £20bn blow to Reeves ahead of Budget (Telegraph )

    • Ruck-Rede von Merz? Warum Deutschland den großen Wurf braucht (Handelsblatt )

  • Top company news

    • Earnings/updates

      • BAKKA.NO (Bakkafrost) -- Q3 Trading Update

      • KOF.FP (Kaufman & Broad) -- reports Q3 net income €10.1M vs year-ago €10.0M

    • M&A

      • LR.FP (Legrand) -- acquires Avtron Power Solutions in the U.S.

      • CVC.NA (CVC Capital Partners) -- CVC acquires 20% stake in International Schools Partnership at €7B valuation, joining majority owner Partners Group - FT

      • RIO.AU (Rio Tinto) -- considering options for mineral sands business - Australian Financial Review (pre-US open)

      • SGO.FP (Compagnie de Saint-Gobain) -- Saint-Gobain signs agreement for the sale of retail network in Brazil Tumelero

      • TKA.GR (ThyssenKrupp) -- holder Daniel Kretinsky reportedly has agreed to sell his 20% stake, paving way for India's Jindal Steel talks - Reuters (earlier today)

      • BARN.SW (Barry Callebaut) -- major holder Jacobs previously explored taking the company private - Bloomberg

      • PROX.BB (Proximus) -- Group completes the sale of its majority stake in Be-Mobile

      • GBLB.BB (Groupe Bruxelles Lambert) -- GBL confirms exclusive negotiations with Malakoff Humanis to sell stakes in Sienna Investment Managers activities

      • ZEG.LN (Zegona Communications) -- exploring sale of portfolio of five data centers - Bloomberg (2-Oct, 16:18 BST)

      • JSW and coal investor Matt Latimore among parties running the numbers of EMR Capital's Kestrel coal mine - Australian Financial Review

      • Blackstone in due diligence to acquire Hamilton Island - AFR/The Australian

      • Armani approaches potential buyers over minority stake - Reuters (2-Oct, 17:13 CET)

    • Healthcare

      • JAZZ (Jazz Pharmaceuticals) -- FDA approves Jazz Pharmaceuticals' Zepzelca (lurbinectedin) in combination with atezolizumab or atezolizumab and hyaluronidase-tqjs for ES-SCLC whose disease has not progressed

      • JAZZ (Jazz Pharmaceuticals) -- and Roche issue press releases following FDA approval of Zepzelca (lurbinectedin) in combination with atezolizumab or atezolizumab and hyaluronidase-tqjs for ES-SCLC

      • EGTX.SS (Egetis Therapeutics) -- to carry out a directed share issue of up to 10% of the number of outstanding shares through an accelerated bookbuilding with Stifel appointed as Sole Bookrunner

      • EGTX.SS (Egetis Therapeutics) -- carries out directed share issue of 35.9M-shares at SEK5.10/sh

    • Other

      • UBSG.SW (UBS Group) -- Swiss business groups and lawmakers discussing proposal that would require UBS to raise $10B less in additional capital than currently proposed - FT

      • SIE.GR (Siemens AG) -- Siemens unveils next-gen EV charging system

      • TIT.IM (Telecom Italia) -- three-year plan for 2025-2027 envisages significant investments, which totalled €350M in 2024, for a total of approximately €1B

      • CLN.SW (Clariant) -- receives claims for damages from BP Europe and ExxonMobil related to the 2020 competition law infringement; rejects the allegations

      • RBI.AV (Raiffeisen Bank International) -- EU preparing to lift sanctions on Oleg Deripaska-linked assets to compensate Raiffeisen Bank for fine it had to pay in Russia - FT

      • ACKB.BB (Ackermans & Van Haaren) -- secures sizable contract for Nordseecluster B wind farm in Germany

      • Cenergy Holdings' Hellenic Cables to supply 66kV inter-array cables for East Anglia TWO offshore wind farm

      • Follow-up: Boeing 777X plane pushed back to 2027 - Bloomberg

  • Key rating changes

    • Upgrades

      • Berenberg initiates PCOR; upgrades NEM.GR

      • BNZL.LN (Bunzl) -- to neutral from sell at Goldman Sachs

      • CWR.LN (Ceres Power Holdings) -- to buy from neutral at Goldman Sachs

      • KOG.NO (Kongsberg Gruppen) -- to hold from sell at Pareto

      • DPLM.LN (Diploma upgraded) -- to outperform from underperform at RBC Capital Markets

    • Downgrades

      • EVO.SS (Evolution) -- to underweight from neutral at JPMorgan

      • TATE.LN (Tate & Lyle) -- to equal weight from overweight at Barclays

    • Initiations

      • BEAN.SW (BELIMO Holding) -- neutral at Oddo

  • Data

    • Nikkei +1.58% to 45645.87

    • Hang Seng (0.70%) to 27096.50

    • Shanghai Composite +0.00% to 3882.78

    • S&P futures +16.3 vs prior close of 6766.8

    • €-$ +0.0002 or +0.02% to 1.1720

    • $-¥ +0.39 or +0.26% to 147.65

    • €-¥ +0.49 or +0.28% to 173.01

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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