European Pre-Market Summary 9th November 2026: Focus on Nvidia CEO's affair, Europe digests earnings and numerous M&A-related updates

Q3 Earnings

UniCredit (UCG IM): Revenue and Net Profit beat. Raises FY Net Profit guidance, confirms FY28 and FY30 guidance.
GEA (GEA GY): Revenue miss, Orders beat. Outlook confirms.
Casino (CO FP): Delayed Q3 results to November 10th.

9M Earnings

Hannover Re (HNR1 GY): Net Income higher Y/Y. FY guidance confirmed.

M&A/Spin-offs

ABB (ABBN SW): Co. and SoftBank (9984 JT) are reportedly mulling a China carve-out to save their robotics deal, Bloomberg reports, citing sources.
Argenx (ARGX BB): Co., which already holds a minority stake in Unnatural Products, will acquire all remaining shares in a transaction valuing it at up to approximately USD 1.15bln.
Credit Agricole (ACA FP) / Banco BPM (BAMI IM): Credit Agricole is proposing a merger of its Italian operations with Banco BPM.
Hochtief (HOT GY): ACS said that it had not considered a tender offer for its subsidiary Hochtief, Bloomberg reports.

Pharmaceutical

Sandoz (SDZ SW): Launched a new semaglutide treatment option in Brazil, expanding patient access to GLP-1 medicine in a key global market.
UCB (UCB BB): Co. and Biogen (BIIB) announced further data characterising the clinical profile of dapirolizumab pegol (DZP).

What our morning note said

EU Market Open, 9 Nov, 06:36 UTC · what it led with

US President Trump said it is highly unlikely the US will need to resume military action against Iran if negotiations progress, while Secretary of State Rubio said talks have been unproductive.

DXY consolidated after Friday's jobs-driven upside; Antipodeans outperformed, with the NZD aided by the weekend's election result.

Headlines that moved markets

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

Iranian President Pezeshkian says the Supreme Leader has granted the government some authority on dialogue, ISNA reports.

EUR/USD+0.1%

ECB policymakers see a December rate hike followed by a pause; New ECB staff estimates show the rise in bond yields cutting growth by a cumulative 100bps and inflation by 90bps in 2027-28 vs the September baseline, according to reports, citing sources.

EUR/USD−0.1%

ECB President Lagarde (Q&A) says policymakers believe they are in a good position to wait for incoming information. The situation they are in could have warranted a hike.

EUR/USD+0.1%

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European Pre-Market Summary 9th November 2026: Focus on Nvidia CEO's affair, Europe digests earnings and numerous M&A-related updates

Q3 Earnings

9M Earnings

M&A/Spin-offs

Pharmaceutical

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