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European pre-market summary - 29th October 2026: Tech reacts to the mega-caps, Europe digests a deluge of results

Newsquawk Staff ·

APAC

  • Samsung Electronics (005930 KS): Disappointing lack of detail on shareholder returns, while weaker than expected profits and concerns over heavy AI infrastructure spending overshadowed a bullish memory chip demand outlook

EUROPE, Q3

  • Shell (SHEL LN): Adj. Profit 10.81bln (exp. 10.23bln), Adj. EPS 4.03 (exp. 3.97bln); announces commencement of a USD 5bln share buyback programme.
  • TotalEnergies (TTE FP): adj. EPS and adj. Net beat. Authorises a buyback of 2.5bln. Maintains interim dividend.
  • Airbus (AIR FP): EPS and Net beat, Revenue miss. FY26 guidance maintained. Confirms monthly production rate targets for A220, A320, A330 and A350 programmes. Expect enough Pratt & Whitney (RTX) engines to meet FY targets.
  • ING (INGA NA): Total Income, Net and PBT miss. Reaffirms FY guidance. New shareholder distribution programme.
  • Lloyds (LLOY LN): PBT beat, NII and Net Income miss. On track to meet FY guidance.
  • AB InBev (ABI BB): Revenue beat, adj. EBIT miss, Volumes beat, Beer volumes declined. Reaffirms outlook.
  • Societe Generale (GLE FP): Revenue and Net Income beat. Raises FY26 RoTE target.
  • Repsol (REP SM): Net much higher Y/Y. 3rd buyback in 2026.
  • Danske (DANSKE DC): Total Income and Net Income beat, NII miss. FY26 net guide lower-end increased.
  • STMicro (STMPA FP): Revenue, Gross Profit & Gross Margin beat, Net miss. CEO says growth is supported by AI data centres and LEO satellite communications, with demand increasing further during Q3.
  • Adidas (ADS GY): Net sales higher Y/Y. Lifts FY operating profit guidance.
  • Volkswagen (VOW3 GY): Operating profit a larger-than-expected loss. Negative impact on the result primarily from a non-cash impairment loss on goodwill from Porsche (PAH3 GY) of EUR 6.4bln and on China assets of EUR 1bln.
  • Carlsberg (CARLB DC): Revenue beat, beer volumes lower Y/Y. Maintains guidance. Notes a challenging China environment.
  • Aker BP (AKRBP NO): Revenue and EBITDA beat, Net Production miss. FY guidance maintained.
  • OMV (OMV AV): Sales beat. Raises FY production forecast.
  • Renault (RNO FP): Sales higher Y/Y. Confirms outlook.
  • Wacker Chemie (WCH GY): All units exceeded performance Y/Y, primarily due to higher prices, and to some extent higher volume.

EUROPE, 9M

  • Prysmian (PRY IM): Metrics higher Y/Y, ex-Net Income.
  • Kion (KGX GY): Revenue and adj. EBIT higher Y/Y. Cuts FY guidance range.
  • Salzgitter (SZG GY): FY sales guidance above forecast.

M&A

  • Deutsche Telekom (DTE GY): Co. has reportedly put plans to merge with its US subsidiary on hold, opting against submitting a formal bid for now, partly due to opposition from its works council, according to Bloomberg sources.

US

  • Alphabet (GOOG): shares plunged 9.7% in extended US trading after weaker than expected search advertising revenue, slowing growth amid increased AI Mode usage and worsening negative free cash flow overshadowed strong Google Cloud performance, while plans for significantly higher AI spending and pressure on cloud margins added to investor concerns
  • Microsoft (MSFT): shares rose 4.4% in extended US trading after stronger than expected earnings and revenue, driven by robust Azure cloud growth and AI demand, alongside an upbeat cloud outlook, and continued positive free cash flow.

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