Newsquawk Daily European Equity Opening News - 19th January 2026

APAC stocks opened mostly in the red as markets reacted to the increased trade tensions between the US and Europe, but pared back some losses amid quiet newsflow overnight ahead of the US market holiday. ASX 200 started the week with modest losses, with IT and Financials weighing on the index. Gold and Utilities helped limit the downside in the index as spot XAU hit new ATHs. Nikkei 225 was hit the hardest, with losses as much as 1.5%. This came amid a strengthening JPY as a safe-haven bid spread throughout markets. KOSPI outperformed its global peers, extending on ATHs, as South Korea and China prepare for a new round of free-trade negotiations. Hang Seng and Shanghai Comp started on the back foot but diverged as the session continued, with the Shanghai Comp. shifting into the green while the Hang Seng extended on earlier losses. China released its GDP figures, with the Q4 figure beating expectations and 2025 growth hitting China’s target. However, equities did not react to the data.

CLOSES: Euro Stoxx 50 -0.25% at 6,026, Dax 40 -0.30% at 25,276, FTSE 100 -0.04% at 10,235, CAC 40 -0.65% at 8,259, FTSE MIB -0.11% at 45,800, IBEX 35 +0.39% at 17,711, PSI +0.43% at 8,639, SMI -0.50% at 13,409, AEX -0.08% at 1,010

SECTORS: Utilities 1.10%, Healthcare 0.69%, Industrials 0.60%, Energy 0.41%, IT 0.30%, Financials 0.00%, Consumer Stpl -0.72%, Telecoms -1.02%, Materials -1.71%, Consumer Disc -1.76%

BT (BT/ LN) - The Telegraph writes that Elon Musk is threatening BT's business plans this year, citing the viability of Starlink becoming a clear choice for domestic broadband. (The Telegraph)

BAE Systems (BA/ LN) / Lockheed Martin (LMT) - Lockheed Martin and BAE Systems were each awarded contracts under the Defense Microelectronics Activity Advanced Technology Support Program V, sharing a USD 25.36bln ceiling. The 10yr ordering period includes a 5yr base and two option periods. Elsewhere, BAE Systems was awarded a USD 204.16mln US Navy contract for maintenance, modernisation and repair of USS Iwo Jima fiscal 2026 Selected Restricted Availability; options could raise the total to USD 255.88mln. (Newswires)

National Grid (NG/ LN) - The Co. is reportedly set to charge billpayers over GBP 288mln to remove 10 "ugly and intrusive" pylons. (The Telegraph)

Rio Tinto (RIO LN) / Glencore (GLEN LN) - Bloomberg writes that Aluminium Corp of China, a large shareholder in Rio Tinto, is likely to support the proposed tie-up with Glencore as it gives the Chinese company exposure to the copper industry. Elsewhere, a Rio Tinto-Glencore merger may require approval from China, reports writers citing analysts and lawyers; they are reportedly concerned about the new company’s' concentration in copper/iron production and marketing. Some also see the chance to force asset sales to China-friendly firms, which may incl. Chinalco. As a reminder, Chinalco is already in talks with Rio Tinto over a potential deal, with analysts suggesting that Chinalco could back a Rio-Glencore merger. (Bloomberg/Reuters)

UK Rightmove - UK Rightmove House Prices YY (Jan) 0.5% (Prev. -0.6%); House Prices MM (Jan) 2.8% (Prev. -1.8%). (Rightmove)

UK M&A - Sky News reports that the UK government is reportedly set to unveil a number changes to how mergers are scrutinised in the region; sources suggest that that the CMA's ability to probe foreign mergers could be curtailed. Elsewhere, UK Chancellor Reeves will say at the LSE that critics of UK capital markets were wrong as new listing rules begin on Monday; the FCA now requires prospectuses only for raises of 75% or more of share capital (up from 20%). (Sky News)

OTHER UK COMPANIES

BROKER MOVES

Bayer (BAYN GY) - The U.S. Supreme Court announced that it will review the Durnell Roundup case. The company expects a decision on the merits during the Court’s 2026 session, which ends in June. (Bayer)

OTHER GERMAN COMPANIES

BROKER MOVES

BMW (BMW GY) downgraded to Hold from Buy at Berenberg

Bayer (BAYN GY) reiterated with Buy at Bank of America; PT raised to EUR 55/shr (prev. EUR 35/shr)

Lufthansa (LHA GY) upgraded to Neutral from Underperform at Bank of America

Airbus (AIR FP) - UBTech Robotics shares surged in Hong Kong trading after Airbus ordered its Walker S2 humanoid robots for use at aircraft plants. The deal boosted optimism for wider adoption of humanoid robots in global manufacturing, Bloomberg said. (Bloomberg)

OTHER FRENCH COMPANIES

BROKER MOVES

Alzheimer treatment makers / AstraZeneca (AZN LN) / Roche (ROG SW) - BBC reports that Alzheimer's finger-prick tests could assist in diagnosing the condition. (BBC)

European drugmakers - The FT writes that US pharma companies are threatening to withhold some items from Europe, citing higher drug prices in the region. (FT)

Trade - US President Trump hit 8 European countries with a 10% tariff, effective February 1st, over Greenland. The 8 countries include Denmark, Norway, Sweden, France, Germany, Finland, the Netherlands and the UK. The tariff will be increased to 25% on June 1st, unless a deal is reached for the purchase of Greenland. The EU is preparing EUR 93bln of tariffs on the US or restrict American companies' from the European market, in retaliation to the latest threat by US President Trump as European leaders meet for an emergency meeting on Thursday, the FT reports. (Newswires / FT)

UniCredit (UCG IM) - UniCredit is expanding aggressively into Poland’s corporate lending market after re-entering via the acquisition of Aion Bank last year, joining refinancing syndicates for Allegro.eu, LPP and ZE PAK, squeezing margins and unsettling local rivals, according to Bloomberg. (Bloomberg)

BROKER MOVES

Novartis (NOVN SW) - Lanalumab receives FDA breakthrough therapy designation for Sjögren’s disease and plans global submission in early 2026. (Novartis)

OTHER SWISS COMPANIES

Clariant (CLN SW) - Clariant Board of Directors proposes the election of Regula Wallimann and Albert Manifold to the Board. (Clariant)

Belimo (BEAN SW) - FY (CHF): Revenue 1.12bln (exp. 1.11bln). Notes that Belimo’s operations in China and India developed positively. (Belimo)

BROKER MOVES

Genmab (GMAB) - Co. announces topline results for epcoritamab from Phase 3 Epcore dlbcl-1 trial in patients with relapsed/refractory diffuse; said study OS did not reach statistical significance; study demonstrated an overall survival of hr: 0.96. (Genmab)

Kesko (KESKOB FH) - Q4 market share for grocery stores by 0.5%. (Newswires)

BROKER MOVES

Volvo (VOLVB SS) upgraded to Buy from Hold at Nordea

CLOSES: SPX -0.06% at 6,940, NDX -0.07% at 25,529, DJI -0.17% at 49,359, RUT +0.12% at 2,678

SECTORS: Health -0.84%, Communication Services -0.72%, Utilities -0.51%, Materials -0.44%, Consumer Discretionary -0.17%, Consumer Staples 0.00%, Technology +0.09%, Financials +0.12%, Energy +0.21%, Industrials +0.65%, Real Estate +1.20%.

Apple (AAPL) China Q4 iPhone shipments +28% Y/Y, Counterpoint reports. (Counterpoint)

Boeing (BA) - Boeing was awarded a contract under the Defense Microelectronics Activity Advanced Technology Support Program V, with a shared ceiling of USD 25.36bln; the 10yr ordering period includes a 5yr base and two option periods.

Micron (MU) - Co. says 'unprecedented' memory shortage is to last beyond 2026. (Newswires)