Oct 16 ,2026
Synopsis
European indicies are set to open mixed with Asian equities strengthening Friday. Semis/memory rebounding, driving outperformance of Japan, South Korea and Taiwan benchmarks.
US equities closed higher in Thursday trading, ending near best levels. Equal-weight S&P 500 (RSP) outperformed cap-weighted index by ~100 bp.
Thursday continuing to see weakness across the AI trade and continuation of Wednesday's defensive rotations.
Friday sees, in central banks, BOE's Bailey in conversation at 3:00BST at event hosted by IIF and Bundesbank's Nagel and minister of finance Klingbeil press conf. at 4:30CET at IMF annual meeting. Spain's minister of economy, trade, and business Cuerpo in conversation at Atlantic Council at IMF on growth, trade, and Europe's economic path.
Earnings reported early today: (CMCOM.NA) CM.com reports Q3 net income €1M vs year-ago (€2.4M); 2026 outlook raised. (SU.FP) Schneider Electric reports Q3 revenue €11.46B vs consensus €11.13B; upgrades its FY26 financial target. (AZA.SS) Avanza Bank Holding reports Q3 EPS SEK4.90 vs FactSet SEK5.05.
Economic data due today: Italy Sep final CPI, Aug trade balance, Eurozone Sep final CPI, Aug trade balance, Sweden Sep unemployment rate, Austria Sep final CPI
Other news include: (DLG.IM) De'Longhi increases its stake to 88% in professional division; pays total cash consideration of approximately €662.5M. (PPGN.SW) Samsung Peptide announces definitive interim result of its public tender offer for PolyPeptide Group; transaction is currently expected to be completed towards the end of 2026 or in Q1 2027
Politics/Macro/World News
Top company news
Earnings/updates
AIXA.GR (Aixtron) -- announces Q3 2026 order intake and operating profitability significantly exceed market expectations
BC.IM (Brunello Cucinelli) -- reports Q3 revenue €374.2M vs StreetAccount €371.1M; revises 2026 outlook further upwards
NDX1.GR (Nordex) -- reports preliminary Q3 EBITDA ~€278M vs FactSet €230.6M [5 est, €219-247M]
ADP.FP (Aeroport de Paris) -- reports Total Paris Aeroport Septermber traffic 9.08M (1.6%) y/y; revises 2026 traffic outlook lower
MMB.FP (Lagardere) -- reports preliminary Q3 revenue €2.63B vs year-ago €2.55B
ALHG.FP (Louis Hachette Group SA) -- reports Q3 revenue €2.68B vs FactSet €2.66B
THEP.FP (Thermador Groupe) -- reports Q3 revenue €129.0M vs FactSet €130.0M [1 est]
ALCPB.FP (Capital B) -- reports H1 net income (€69.5M) including BTC impairment charge
0IFR.LN (ChronoScale Holdings Corp.) -- reports Q1 EPS (cont ops) ($0.18) vs year-ago ($0.08)
M&A
CBK.GR (Commerzbank) -- UniCredit receives ECB approval to acquire control of Commerzbank
PPGN.SW (PolyPeptide Group) -- Samsung Peptide announces definitive interim result of its public tender offer for PolyPeptide Group; transaction is currently expected to be completed towards the end of 2026 or in Q1 2027
CWY.AU (Cleanaway Waste Management) -- responds to ASX price query; not aware of any information that could explain recent trading
Healthcare
SAN.FP (Sanofi) -- and pan-Canadian Pharmaceutical Alliance Sign Letter of Intent for Dupixent Across Four Indications in Dermatology and Respiratory Care
ROP.SW (Roche Holding) -- FDA approves Genentech's Enspryng, a first-in-Class IL-6R inhibitor, as the first and only at-home subcutaneous treatment option for thyroid eye disease (TED)
NYXH.BB (Nyxoah) -- provides full 12-Month data from the ACCCESS U.S. pivotal study in complete concentric collapse patients presented at ISSS 2026
AVCT.LN (Avacta Group) -- Transcript Intelligence: Avacta Group Investor Meeting
Other
ASML.NA (ASML Holding) -- Street Takeaways - ASML Holding Q3 Earnings
ML.FP (Cie Generale des Etablissements Michelin SA) -- Michelin publishes global tire market data for September
ALO.FP (Alstom) -- signs 15-year services contract extension worth ~£800M from Greater Anglia in the United Kingdom
FER.SM (Ferrovial) -- selected to deliver Georgia's I-285 East Express Lanes
EU Commission anticipated to give fast-track antitrust approval to satellite company being formed by Leonardo, Airbus, and Thales, known as Project Bremo - Bloomberg
Vodacom issues update on acquisition of a controlling interest in Safaricom PLC
Key rating changes
Upgrades
Peel Hunt re-initiates CMCX.LN; transfers IGG.LN, PLUS.LN
BYIT.LN (Bytes Technology Group) to neutral from underperform at BNP Paribas Exane
Downgrades
SIE.GR (Siemens AG) -- to hold from buy at Jefferies, we're told
LLOY.LN (Lloyds Banking Group) to sector perform from outperform at RBC Capital Markets
Initiations
AJB.LN (AJ Bell) -- hold at Peel Hunt
EN.FP (Bouygues) -- buy at UBS
Data
Nikkei +1.86% to 65621.54
Hang Seng +1.01% to 24306.87
Shanghai Composite +0.39% to 3722.08
S&P futures +12.0 vs prior close of 7791.0
€-$ +0.0004 or +0.04% to 1.1226
$-¥ (0.10) or (0.06%) to 157.89
€-¥ (0.04) or (0.02%) to 177.25
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