Oct 09 ,2026
Synopsis
European indicies are set to open higher as Asian equities trade mixed. Mainland China indexes seeing steep declines with chip stocks under pressure
US equities were lower in Thursday trading. However, breadth positive, equal-weight S&P outperformed official index by over 100 bp
Crude retreating further from overnight highs after President Trump cited productive talks with Iran and ruled out military action before midterm elections.
French fiscal and political concerns remain biggest drag on European bond markets today. Latest developments include Finance Minister Lescure signalling that France may favour shorter-term debt issuance as borrowing costs rise, while insisting that the government continues to find buyers for its bonds
Economic data due today: Italy Aug industrial production, Netherlands Aug manufacturing production, Norway Sep CPI, PPI, Denmark Aug trade balance, Sweden Aug industrial production, Switzerland Sep consumer confidence, Greece Sep CPI, Aug industrial production
Deutsche Telekom may trade lower on news SpaceX announced an agreement to acquire a nationwide low-band spectrum license portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band.
Earnings: (TRYG.DC) Tryg reports Q3 net income DKK1.63B vs FactSet DKK1.43B [9 est, DKK1.36-1.53B]. (ATRLJ.B.SS) Atrium Ljungberg reports Q3 EPS SEK0.56 vs FactSet SEK0.52 [3 est, SEK0.50-0.55].
Politics/Macro/World News
Top company news
Earnings/updates
AIR.FP (Airbus SE) -- Airbus reports September gross orders 17 aircraft, deliveries 72 aircraft to 37 customers
BNOR.NO (BlueNord) -- reports preliminary Sep production of 43.9 mboepd net
HAUTO.NO (Höegh Autoliners) -- Sep trading update: 1.4M cbm of cargo on prorated basis
M&A
AXTA (Axalta Coating Systems) -- EU antitrust officials set to conditionally approve AkzoNobel's merger with Axalta -- Reuters (earlier, intraday)
SPCX (SpaceX) -- to acquire up to 14 megahertz of paired spectrum in 800 MHz band
RMV.LN (Rightmove) -- trades higher; circulation of takeover speculation from Betaville (yesterday afternoon)
SIKA.SW (Sika Group) -- acquires Azpects Group in UK
Lottomatica Group and CIRSA Enterprises boards have respectively approved the the previously disclosed merger plan
WISeQey;s Quantisimo Corp and SEALSQ, signs definitive business combination agreement with GigCapital8 Corp. to become a Nasdaq-listed public company
Healthcare
ROP.SW (Roche Holding) -- FDA approves Tecentriq and Tecentriq Hybreza for adjuvant treatment of dMMR colon cancer
ROP.SW (Roche Holding) -- Roche inks drug discovery deal with Chinese biotech, focused on molecular glue medicines - STAT News (pre-open)
GH (Guardant Health) -- announces EU approval of Guardant360 CDx as companion diagnostic for AstraZeneca's ETCAMAH (camizestrant) in advanced ER-positive breast cancer
TENX (Tenax Therapeutics) -- discloses plans to amend enrollment criteria in LEVEL-2 trial; temporarily pauses enrollment - 8-K
IDIA.SW (Idorsia) -- to present new daridorexant data across pediatric insomnia and real-world clinical practice at Sleep Europe 2026
CHEMM.DC (ChemoMetec) -- initiates share buy-back programme of up to 10% of share capital
Other
VOD.LN (Vodafone Group) -- Transcript Intelligence: Vodafone Group Business Update Call
BA.LN (BAE Systems) -- State Dept approves possible Foreign Military Sale to BAE Systems to Australia for purchase of Tomahawk Capability Development
R3NK.GR (Renk Group) -- Transcript Intelligence: Renk Group at MWB Research Defense and Security Conference
KTN.GR (Kontron) -- Transcript Intelligence: Kontron at MWB Research Defense and Security Conference
AI stocks weaker after report on OpenAI revenue; US suspends visa program for some tech firms in intraday themes (8-Oct)
OpenAI annualized revenue $20B less than previously indicated -- FT
Weatherford International expands collaboration with Equinor through contract extension and major offshore completions award
Key rating changes
Upgrades
RBC Capital Markets upgrades HEI.GR; downgrades KNF, SGO.FP
Downgrades
PSON.LN (Pearson) -- to neutral from buy at UBS
RHM.GR (Rheinmetall) -- to hold from buy at Berenberg
DSV.DC (DSV A/S) -- to neutral from overweight at JPMorgan
PNN.LN (Pennon Group) -- to sector perform from outperform at RBC Capital Markets
Data
Nikkei (0.05%) to 69004.53
Hang Seng +1.41% to 24120.88
Shanghai Composite (0.51%) to 3792.53
S&P futures +21.5 vs prior close of 7816.3
€-$ +0.0021 or +0.19% to 1.1232
$-¥ +0.20 or +0.13% to 158.09
€-¥ +0.58 or +0.33% to 177.58
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