European Equity pre-Market Summary - 30th September 2026: Futures point higher, stock-specifics focussed on M&A, investment and pharmaceutical

M&A/Investment

• Glencore (GLEN LN): Says its Hunter Valley thermal coal project in Australia has gained approval for continued operations.
• Shell (SHEL LN): A consortium led by the Co. has reached a final investment decision to double the production capacity of its LNG Canada project to 28mln tonnes per year.
• ArcelorMittal (MT NA): Co.'s Brazilian Head says the Co. is aiming to make a final investment decision on a BRL 5bln expansion of its Pecem steel mill by the end of 2026
• Commerzbank (CBK GY), UniCredit (UCG IM): German officials reportedly expect UniCredit to commit to preserving Commerzbank's domestic stock listing and its Frankfurt base, as well as guarantees on jobs, Bloomberg reports.
• Lundbeck (LUND DC): Has reportedly shown interest in acquiring Xeris (XERS), Bloomberg reports

Pharmaceutical

• Galderma (GALD SW): Presents new three-year ARCADIA long-term extension data that demonstrates that Nemluvio is well-tolerated and associated with sustained and continuous improvements.
• Roche (ROP SW): US FDA has accepted the Co.’s NDA under priority review for fenebrutinib for the treatment of RMS and PPMS.
• Zealand Pharma (ZEAL DC): Reports results from its Phase 2 ZUPREME-1 trial evaluating investigational petrelintide. Results show that petrelintide led to mean reductions in body weight from baseline to week 42 of up to 10.7%.