European Pre-Market Summary 2nd November 2026: European bourses set for a slightly firmer open; Ryanair tops expectations but profit falls amidst higher fuel costs
Newsquawk Staff ·
Stories
- Fresenius (FRE GY): Co. enters exclusive development agreement with WuXi Biologics, securing option rights for up to 37 potential first-to-market biosimilar candidates.
- French Credit Rating: Fitch revises France's credit rating outlook to negative in an unscheduled review, citing weaker economic growth, higher borrowing costs and a widening fiscal deficit since August 2026.
- Lloyds Banking Group (LLOY LN): Co. reportedly launches voluntary redundancy programme across several divisions, with participating employees expected to depart in Q1 2027, according to The Times.
Earnings
- Alstom (ALO FP): H1 2026 (EUR): Sales 9.3bln (exp. 9.6bln), Orders 11bln (prev. 10.5bln Y/Y). Lowers FY2026/27 guidance, organic sales growth to low-to-mid single digits (prev. guided c. 5%).
- Ryanair (RYA ID): Q2 2027 (EUR): Revenue 5.7bln (exp. 5.71bln), Profit after Tax 1.61bln (exp. 1.59bln). Says final FY27 unit costs will depend on unhedged H2 fuel prices and it remains too early to provide meaningful FY27 PAT guidance.
Broker Moves
- Haleon (HLN LN) downgraded to Hold from Buy at Berenberg
- CaixaBank (CABK SM) upgraded to Overweight from Equal Weight at Morgan Stanley
- Volvo (VOLVB SS) downgraded to Neutral from Buy at Citi
- Newsquawk Daily European Equity Opening News - 2nd November 2026
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- US Market Wrap: NDX briefly enters correction as weak tech earnings spark AI rout
- US FX Wrap: Dollar mixed as AI growth concerns build into week-end, yen firms after BoJ hold
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