European Pre-Market Summary 20th October 2026: European bourses set for a weaker open; ABBN SW slips post-earnings

• AstraZeneca (AZN LN): Co. announces with Oracle (ORCL), the launch of a global AI collaboration to advance clinical trial optimisation and support better patient outcomes.
• GSK (GSK LN): Co.'s Jemperli has been approved by the US FDA as the first and only immunotherapy for adults within MSI-H/dMMR rectal cancer.
• UK Budget: UK Chancellor Healey has reportedly ruled out raising capital gains tax in the October 28th Budget amid concerns over growth and investment, The Times reports.
• Volkswagen (VOW3 GY): Reuters reported that Volkswagen’s co-development with Xpeng to improve its China business, is not going as well as hoped. SUV sales between Apr-Aug are well beneath target, with the report also suggesting that the Co. cut its FY26 UNYX 08 sales forecast by more than 60%.
• Schneider Electric (SU FP): Co. launches a EUR 6bln capital increase to fund the acquisition of PTC.

• ABB (ABBN SW), -3.9%: Reported Q3’26 results, where Basic EPS and Revenue both missed consensus, though Orders topped expectations. Guides FY26 comparable revenue growth in the "low teens" range Y/Y (prev. guided "low double-digit to low-teens" range).

• Imperial Brands (IMB LN) downgraded to Hold from Buy at Jefferies
• Tag Immobilien (TEG GY) initiated with Buy at Goldman Sachs
• Vodafone (VOD LN) downgraded to Underweight from Equal Weight at Barclays

Pre-market levels via tradegate