[MARKET ANALYSIS] European bourses mixed, Health Care supported by strong Genmab earnings; NQ gains following positive MCHP results

Newsquawk Staff · 7 Aug 2026, 09:05 UTC

European bourses begin Friday's trade mixed, with the DAX 40 outperforming while the IBEX 35 lags. Focus still remains on the Middle East. Overnight, MS News reported that Oman and Iran reached an agreement over the Strait of Hormuz, although the diplomats declined to describe the details of the temporary agreement or what issues remain unresolved.
Sectors lack a clear bias. Health Care tops the sector pile, after Genmab's (+9.0%)H1 revenue rose Y/Y and lifted its FY outlook. Tech and Media round out the top 3 outperformers. To the downside is Telecoms, with Utilities and Travel & Leisure following suit.
Key movers include: Allianz (-1.0%), Q2 revenue nearly doubled market consensus; Munich Re (-2.8%), cut its FY26 insurance revenue view; BMPS (+0.3%), Q2 Net profit and revenue beat estimates; Brenntag (+1.6%), upgrades its FY26 operating EBITDA guidance ahead of next week's earnings; Stellantis (-2.9%), downgraded to underperform at SocGen.
US equity futures are mixed, with the YM underperforming. Contrary to Thursday's pre-cash trade, the NQ is outperforming, helped by upside in Microchip Tech pre-market (+9.6%). After-hours, the Co. reported a Q1 revenue beat, and revenue topped forecasts, supported by strengthening demand across AI data centres, industrial, automotive and aerospace markets.
Elsewhere, over in South Korea for SK Hynix, the Co. announced a KRW 54tln domestic expansion plan of its chipmaking facilities. The Co. is to build a new DRAM manufacturing facility in Yongin and a NAND fabrication plant in Cheongju, in response to “the continuously growing demand for memory in the AI era.”

What our latest note said

US Market Open, 23 Oct, 10:15 UTC · what it led with

US President Trump says the US crushed Iran, and may want to do it a "little more".
Crude benchmarks firmer on ongoing tensions in the Middle East; recent bout of strength comes after the Houthis launched another missile towards Saudi interests.

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