European Equity pre-Market Summary - 8th September 2026: Novartis does not meet Phase 3 primary endpoint; European equity futures indicative of a slightly lower open, as energy picks up

Newsquawk Staff · 8 Sept 2026, 06:35 UTC

Stories

Rio Tinto (RIO LN): Bloomberg reports, citing sources, that China's CMRG has told some steel mills to pause purchases of Rio's Pilbara blend as negotiations between the two Cos are at a key stage.
Airbus (AIR FP): Co. announced its April delivery figures: Deliveries 57, Orders 67, Deliveries to date 475 (prev. 434 Y/Y).
Deutsche Telekom (DTE GY), Orange (ORA FP), Vodafone (VOD LN), Telefonica (TEF SM): Cos are reportedly in early talks to create a consortium to bid on satellite spectrum and offer direct-to-mobile service, Bloomberg reports.
Novartis (NOVN SW), -4%: Co. announces that the global Phase III HARBOR study evaluating del-desiran in people living with myotonic dystrophy type 1 did not demonstrate statistically significant improvement on the primary endpoint.
ASML (ASML NA), TSMC (2330 TT/TSM) - ASML announces a collaborative initiative with TSMC to lead the transition to a larger-format EUV lithography photomask. There is to be a transition to larger 12-inch masks that is expected to further increase fab productivity.

Broker Moves

Societe Generale (GLE FP), -0.8%: downgraded to Neutral from Overweight at JPMorgan
Schneider Electric (SU FP), -0.2%: downgraded to Neutral from Outperform at Santander
Infineon (IFX GY), -2%: downgraded to Equal Weight from Overweight at Morgan Stanley

What our morning note said

EU Market Open, 8 Sept, 05:32 UTC · what it led with

Iran warned that economic warfare will be met with a maritime exclusion zone from the Persian Gulf to the blockade perimeter, and said it has the ability to strike ships participating in the US blockade.

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Case studies

Headlines that moved markets

Energy headlines from our feed, and what the market did next.

Iran and US talks continue, and reports that the deal is close are wrong.
WTI crude+1.5%
Mediation efforts said that "Qatar and Pakistan presented a 'compromise proposal' that meets the demands of both the American and Iranian sides", Al Araby Al Jadeed reports citing sources.
WTI crude−4.6%
"A breakthrough is expected to be announced this week to halt the escalation between Washington and Tehran", Al Araby Al Jadeed reports citing a source.
WTI crude−1.1%

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