Jul 03 ,2026
Synopsis
European indices are set to open slightly positive. Asian equities trading higher Friday. South Korea rebounding amid memory rally. Semis weighing on Taiwan. Hong Kong leading China markets with tech platforms and AI stocks stronger. Mild gains in Japan.
US equities finished mixed in Thursday trading. However, equal-weight S&P outperformed the cap-weighted index by ~70 bp and RSP set a fresh ATH. S&P and Nasdaq both logged solid gains for the holiday-shortened week.
Friday sees, in central banks, Bundesbank's Nagel, BOE's Bailey, Ireland central bank's Makhlouf panellists at 16:30 at event hosted by Les Rencontres Économiques (Thu-Sat).
Trading Updates reported today: Pluxee PLX.FP Pluxee reports Q3 revenue €312M vs FactSet €242.0M
Economic data due today: Italy, Spain, Sweden Jun services PMI as well as final reads for Eurozone, France, Germany, UK, France May industrial production, Italy May retail sales, Norway Jun retail sales
Politics/Macro/World News
Merz's reforms have potential - eventually - to boost German growth (Reuters )
Top company news
Earnings/updates
RHM.GR (Rheinmetall) -- comments on potential impact of cancellation of the F126 programme; in case that no mitigating measures can be identified, the 2026 revenue impact could reach a level of up to €300M.
AKRBP.NO (Aker BP) -- reports Q2 net production 383.6 mboepd vs year-ago 398.4 mboepd
PLX.FP (Pluxee) -- reports Q3 revenue €312M vs FactSet €242.0M [1 est]
BAKKA.NO (Bakkafrost) -- issues Q2 trading update
M&A
HBR.LN (Harbour Energy) -- Holder Potomac View Investments to place ~54.8M ordinary shares in Harbour
NEXA (Nexa Resources) -- issues statement regarding Boliden's announcement
ELIS.FP (Elis) -- makes acquisition in Brazil. Terms were not disclosed
R3NK.GR (Renk Group) -- nearing deal to acquire David Brown Defence - Bloomberg
RF.FP (Eurazeo) -- Euazeo completes sale of its stake in Spanish hotel group FST hotels
012330.KS (Hyundai Mobis) -- Seoyon E-Hwa, EcoPlastic and Plakor consortium to acquire Hyundai Mobis' bumper business for KRW500.0B - KED
CWC.GR (CEWE Stiftung & Co) -- completes sale of its Commercial Online-Print division to Cimpress
Healthcare
GNFT.FP (GENFIT) -- announces US Medicare coverage and future reimbursement for NASHnext
NWRN.SW (Newron Pharmaceuticals) -- announced that it had a Type A meeting with the FDA regarding the hold on the enrollment of new patients at US sites of its Phase III ENIGMA-TRS 2 study of evenamide
Other
BA.LN (BAE Systems) -- awarded $49.3M US Navy contract
OCDO.LN (Ocado Group) -- Ocado board receives letter from top-10 shareholder calling for chair Adam Warby to be removed - FT
BAER.SW (Julius Baer Group) -- appoints Peter Burrill as CFO effective 17-Aug
ADDT.B.SS (Addtech) -- releases 2025/2026 Annual Report (includes sustainability statement on page 47)
MIPS.SS (MIPS) -- AB and its customer Revelyst resolve alleged patent infringement litigation with BrainGuard Technologies, Inc.
Key rating changes
Upgrades
Morgan Stanley upgrades GALP.PL; downgrades REP.SM; others
JM.SS (JM) -- to buy from hold at ABG Sundal Collier
MAERSK.B.DC (Maersk) -- to neutral from sell at Goldman Sachs
NSIS.B.DC (Novonesis) -- to neutral from underperform at BNP Paribas Exane
SIE.GR (Siemens AG) -- to hold from reduce at Kepler Cheuvreux
SKA.B.SS (Skanska) -- to buy from hold at Danske Bank
TYRES.FH (Nokian Renkaat) -- to buy from hold at DNB Carnegie
Downgrades
STLAM.IM (Stellantis) -- to reduce from hold at HSBC
CNE.LN (Capricorn Energy) -- to hold from buy at Shore Capital Stockbrokers
RWAY.IM (Rai Way) -- to hold from buy at Equita
Other Actions
KCO.GR (Kloeckner & Co.) -- resumed hold at Deutsche Bank
Data
Nikkei +1.10% to 69487.22
Hang Seng +1.15% to 23320.72
Shanghai Composite +0.67% to 4055.84
S&P futures +22.5 vs prior close of 7528.3
€-$ +0.0023 or +0.20% to 1.1455
$-¥ (0.05) or (0.03%) to 161.06
€-¥ +0.29 or +0.16% to 184.47
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