Additional European Equity News - 3rd September 2026
This is a routine morning research and corporate round-up rather than a single market-moving item, and items of this kind tend to matter name by name rather than at index level.
Turkish PPI (Aug MM) 2.57% (Prev. 1.52%)
India's Trade Minister says final trade agreement between US and India will be published as soon as the US can provide India with tariff advantages
Additional European Equity News - 3rd September 2026
Swiss CPI (Aug MM) 0.4% vs. Exp. 0% (Prev. -0.1%)
Swiss CPI (Aug YY) 0.8% vs. Exp. 0.5% (Prev. 0.4%)
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Atlas Copco (ATCOA SS) - Co. acquires Compressors Australia; no terms disclosed. (Atlas Copco)
Crest Nicholson (CRST LN) - FY26 Trading Update: Cuts its FY completions to between 1,350-1,400 (prev. guided 1,400-1,500) and EBIT loss of around GBP 10mln (prev. guided profit of GBP 5-10mln). The reduction in profitability reflects lower expected completions following weaker open-market demand, and continued competitive pricing, particularly in bulk transactions, also resulting in some further NRV provisions on a small number of sites. (Crest Nicholson)
Grafton (GFTU LN) - H1 2026 (GBP): Revenue 1.34bln (prev. 1.25mln Y/Y), Adj. Operating Profit 98.5mln (prev. 91mln Y/Y), Adj. Pretax Profit 93mln (prev. 86.8mln Y/Y). Remains on track to deliver full year adjusted operating profit of GBP 190-200 mln. (Grafton)
LondonMetric (LMP LN) - Co. announces GBP 105mln of investment activity since the trading update in July. (LondonMetric)
M&G (MNG LN) - H1 2026 (GBP): AUMA 387bln (exp. 383bln), Adj. Operating Pretax Profit 435mln (exp. 429mln), Solvency 2 Ratio 247% (exp. 239%), Operating Capital Generation 372mln (exp. 360mln). Raises its interim dividend to 6.8p/shr. Says they are well positioned to deliver strong long-term financial outcomes. (M&G)
Solvay (SOLB BB) - Co. says they will more than double capacity for ultra-pure hydrogen peroxide in Taiwan by the end of 2026 to meet demand. (Reuters)
Volvo (VOLVB SS), Daimler Truck (DTG GY), Air Liquide (AI FP), TotalEnergies (TTE FP) - Cos, alongside other industry leaders, have joined forces to scale hydrogen mobility. The Cos will collaborate with German policymakers to establish a benchmark for a fully integrated hydrogen mobility ecosystem for heavy-duty transport. (Volvo)
Watches of Switzerland (WOSG LN) - AGM Trading Update: Performance remained consistent with the positive trends and are well positioned to deliver on its FY27 guidance. Trading in the US remained strong and the UK continued to show further signs of market improvement. (Watches of Switzerland)
Azimut (AZM IM) upgraded to Buy from Hold at Deutsche Bank
Dunelm Group (DNLM LN) upgraded to Buy from Hold at Deutsche Bank
Euronext (ENX FP) initiated with Overweight at Morgan Stanley
Nibe Industrier AB (NIBEB SS) upgraded to Equal Weight from Underweight at Morgan Stanley
Soitec (SOI FP) upgraded to Outperform from Neutral at Oddo Securities
The clearest trading signal is the Crest Nicholson guidance cut: housebuilders lowering completions and swinging to a loss on weak open-market demand and competitive bulk pricing is the established pattern in this part of the UK cycle, and the read-across has historically been to the listed peer set via margin and NRV provision assumptions rather than to the broader tape. M&G's beat across AUMA, solvency and capital generation, with a raised interim dividend, fits the recurring pattern of UK life and asset managers being judged on capital return capacity; the solvency ratio against expectation is the line peers get compared against. On the corporate side, the Solvay hydrogen peroxide capacity expansion in Taiwan and the Volvo, Daimler Truck, Air Liquide and TotalEnergies hydrogen mobility tie-up are of the kind that historically move stocks only modestly on the day, with substance arriving later via capex detail, offtake agreements and, in the German case, the policy framework the consortium is seeking. The ratings cluster, two Deutsche Bank upgrades, a Morgan Stanley initiation on Euronext and an Oddo upgrade on Soitec, is the sort of flow that drives single-name moves at the open and fades unless it signals a broader sector call. Watch whether the housebuilder weakness broadens into peers and whether the hydrogen names attract follow-through statements from policymakers.
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