European Movers: TotalEnergies (TTE FP) +1.0%, Rheinmetall (RHM GY) +1.0%, Ryanair (RYA ID) -1.0%, Volkswagen (VOW3 GY) -1.0%, EssilorLuxottica (EL FP) -2.0%, Danone (BN FP) -2.6%

Danone (BN FP) - Danone announces targeted recall of specific infant formula batches, in context of evolving authoritiesʼ guidance.

EssilorLuxottica (EL FP) - Meta sued in smart glasses patent case, Bloomberg reports. The complaint was filed by Solos Technology, accusing Meta of violating patents related to “core technologies in the field of smart eyewear"; the Co. is reportedly seeking several billions of dollars in damages.

Glencore (GLEN LN) downgraded to Hold from Buy at HSBC.

Rheinmetall (RHM GY)/OHB (OHB GY) - Cos are in discussions to launch a joint bid for the construction of the European-equivalent to Starlink, FT reports citing sources. 

Ryanair (RYA ID) - Q3 (EUR): Revenue 3.21bln (exp. 3.16bln). Raises outlook citing strong demand and earlier than exp. Boeing (BA) deliveries. FY25/26: Raises Passenger Traffic 208mln (prev. 207mln Y/Y). Guides Pretax Profit 2.13-2.23bln. Fares will exceed 7% growth (prev. guided 1-2%).

TotalEnergies (TTE FP) - Libya signed a deal with TotalEnergies (TTE FP) and ConocoPhillips (COP) to more than double the production capacity of their Waha Oil venture, with investments likely to reach USD 20bln over 25 years. 

Volkswagen (VOW3 GY) - Volkswagen will not proceed with a planned US Audi factory unless automotive tariffs are reduced, CEO Oliver Blume said. Audi had considered US production since 2023, but tariffs imposed by the Trump administration cost VW EUR 2.1bln in the first nine months of 2025, Bloomberg reports. 

Danone's recall of infant formula batches amid evolving guidelines poses a risk to its reputation, potentially affecting sales and investor sentiment. Meanwhile, TotalEnergies' substantial investment in Libya's oil production signals strong growth prospects for the company amid rising demand, positively impacting its stock. In contrast, Volkswagen's halt on US Audi production due to tariffs highlights regulatory risks that may hinder its expansion strategy in a key market.