Newsquawk Daily European Equity Opening News - 11th August 2026

APAC stocks traded mixed following a lacklustre lead from Wall Street, where risk sentiment was constrained by higher oil prices and yields amid geopolitical uncertainty, while conditions in Asia were thinned due to the Japanese holiday closure. ASX 200 gained amid strength in energy and miners following recent upside in underlying commodity prices, but with upside capped after weak NAB business confidence and heading into the RBA which kept rates unchanged as expected and maintained its hawkish tone, although it was slightly less hawkish, with the central bank acknowledging that financial conditions in Australia appear somewhat restrictive and it also trimmed CPI forecasts. KOSPI climbed alongside a rebound in tech and with notable gains in Samsung Electronics. Hang Seng and Shanghai Comp were lacklustre after the PBoC opted for zero liquidity operations today, although the downside in the mainland was cushioned following prior reports that China issued the first new round of consumption vouchers aimed at boosting spending.

Hong Kong tax reforms - Authorities are reportedly considering changing proposed legislation to allow staff of prop trading firms to not incur tax on performance-related pay, the FT reports. This follows a bill introduced in June that aims to attract more funds and family offices to Hong Kong. (FT)

CLOSES: Euro Stoxx 50 +0.15% at 6,534, Dax 40 +0.14% at 26,355, FTSE 100 -0.36% at 10,862, CAC 40 +0.13% at 8,726, FTSE MIB -0.10% at 53,664, IBEX 35 +0.03% at 20,183, PSI -0.29% at 9,155, SMI +0.50% at 14,617, AEX +0.17% at 1,113

AstraZeneca (AZN LN), Bristol Myers Squibb (BMY) - The FT reports that a mostly share-based deal in which AstraZeneca would buy BMY at a premium had reached a serious stage, according to a source, and that the Cos were eyeing an announcement in mid-August. However, the report added, Astra's board issued the order to terminate talks after shares fell over 9% on August 3rd in the aftermath of the initial FT report detailing the potential merger. (FT)

BP (BP / LN) - Co. is to sell 20% of its Cocuina gas field in Venezuela to Trinidad's National Gas Company, according to reports citing sources. The report adds that a final investment decision could come by the end of the year. (Reuters)

Economy, Crypto - The heads of the crypto and digital assets all-party parliamentary group sent a letter to all British banks on Tuesday highlighting that the bank's refusal to provide services to crypto companies and investors risks being a barrier to growth in the UK's digital assets industry, the FT reports. (FT)

Gambling, Smoking - The UK Government is to revoke an "outdated" provision within the Gambling Act that pushes councils towards approving new betting ships and 24-hour slot machine shops, giving local authorities stronger powers to block these shops from appearing on the streets. (FT)

Glencore (GLEN LN) - A Glencore-backed consortium is looking to take control of Sherritt International, which operates North America's only significant cobalt refinery. (FT)

Retail - UK BRC Retail Sales Monitor (Jul YY) 1.0% vs. Exp. 1.5% (Prev. 1.7%).

OTHER UK COMPANIES

BROKER MOVES

BAE Systems (BA/ LN) initiated with Sector Perform at RBC

Legal & General (LGEN LN) downgraded to Sell from Neutral at Goldman Sachs

Qiagen (QIA GY) - Co. announces the US FDA has cleared the QIAstat-Dx BCID GPF Plus AMR Panel. The panel detects 20 pathogen targets and 10 antimicrobial resistance markers from positive blood cultures in about one hour. (Qiagen)

OTHER GERMAN COMPANIES

Salzgitter (SZG GY) - H1 2026 (EUR): Group Revenue 4.59bln (prev. 4.66bln Y/Y), Group EBITDA 277.7mln (prev. 116.8mln Y/Y). Guides FY26 sales c. 10bln. (Salzgitter)

TAG Immobilien (TEG GY) - H1 2026 (EUR): Rental Income 196.6mln (prev. 184.2mln Y/Y), Net Income 114.5mln (prev. 151.1mln Y/Y), FFO/shr 0.53 (prev. 0.52 Y/Y). Confirms FY26 outlook, now expects FFO 1 at the upper end of its guidance range. (TAG Immobilien) Shares indicated higher by 3.6% on Tradegate

BROKER MOVES

Carl Zeiss Meditec (AFX GY) downgraded to Sell from Neutral at UBS

LVMH (MC FP) - Louis Vuitton is looking for a liquor licence for the K11 KUSEA in Tsim Sha Tsui, Hong Kong, according to Dim Sum Daily. (Dim Sum Daily)

OTHER FRENCH COMPANIES

BROKER MOVES

Thales (HO FP) initiated with Outperform at RBC

Santander (SAN SM) - Co. announces a share buyback programme of EUR 1.825bln, set to begin August 24th. (Santander)

BROKER MOVES

Alcon (ALC SW) - Q2 2026 (USD): Core EPS 0.84 (exp. 0.80), Revenue 2.78bln (prev. 2.58bln Y/Y). Raises its FY26 guidance, now sees core operating margin change between +90-190bps (prev. guided +70-170bps) and core diluted EPS growth between +12-15% (prev. guided +10-13%). (Alcon) US-listed ADR rose 3.5% after-hours

OTHER SWISS COMPANIES

Galderma (GALD SW)- Co. receives EU approval for its Restylane Shaype for temporary augmentation of the chin region. (Galderma)

Tecan (TECN SW) - H1 2026 (CHF): Revenue 427.5mln (exp. 428.2mln), Adj. EBITDA 64.5mln (prev. 65.7mln Y/Y), Adj. EPS 2.62 (prev. 2.66 Y/Y). Confirms FY26 revenue and Adj. EBITDA margin guidance. (Tecan)

BROKER MOVES

ISS AS (ISS DC) - H1 2026 (DKK): Revenue 44.7bln (exp. 44.1bln), Net Income 1.19bln (exp. 1.14bln), EBITDA 2.76bln (prev. 2.39bln Y/Y). Leaves FY26 guidance unchanged. Increases the second tranche of its share buyback by DKK 600mln, bringing the total programme to DKK 3.1mln. (ISS)

Maersk (MAERSKB DC) - Co. says logistics operations in parts of Colombia are currently facing disruptions following the earthquake. Terminal operations in Buenaventura have been temporarily suspended while facility and infrastructure assessments are underway. (Maersk)

YIT OYJ (YIT FH) - Co. has signed a contract with a laser technology company, Light Conversion, for the development and construction of a new manufacturing facility in Vilnius, Lithuania. (YIT)

BROKER MOVES

Outokumpu (OUT1V FH) upgraded to Overweight from Neutral at JPMorgan, citing the Co.'s high leverage to a European stainless earnings recovery and relatively cheaper valuation.

CLOSES: SPX -0.05% at 7,753, NDX -0.34% at 26,622, DJI -0.11% at 53,976, RUT -0.50% at 3,019.

SECTORS: Energy +4.63%, Health +1.66%, Communication Services +0.68%, Materials +0.68%, Financials +0.32%, Consumer Discretionary +0.27%, Consumer Staples -0.22%, Industrials -0.30%, Technology -1.10%, Utilities -1.11%, Real Estate -1.23%.

Hims & Hers Health (HIMS) - Shares fell almost 7% in extended trading after a much wider-than-expected quarterly loss and pressure on margins from its shift towards branded weight-loss drugs and international expansion outweighed a raised revenue outlook. It reported Q2 EPS -0.37 (exp. -0.01), Q2 adj. EBITDA USD 60.3mln (vs 82.2mln Y/Y), Q2 revenue USD 753mln (exp. 730.1mln); Q2 subscribers 2.9mln (exp. 2.74mln). CEO said customer relationships and global scale continue to deepen despite lower Y/Y adj. EBITDA. Sees Q3 revenue between USD 880-900mln (exp. 862.7mln); sees FY26 revenue between USD 3.1-3.3bln (exp. 3.05bln), FY26 adj. EBITDA between USD 275-325mln, implying an adjusted EBITDA margin between 9-10%.

Intel (INTC) - Intel sought to increase its share sale to about USD 20bln with an over-allotment option (from an initially touted USD 15bln), Bloomberg reports; the offering has reportedly attracted more than USD 100bln in demand. Pricing is expected around USD 95/shr+ (vs closing price of USD 97.52/shr on Monday).

Daily opening wraps of this kind tend to set the agenda rather than move prices on their own; the items that have historically carried the session are the discrete, tradable events buried inside them. The AstraZeneca/BMY episode follows a well-worn sequence in large-cap pharma deal speculation: an initial leak, a sharp move in the would-be acquirer's shares, and termination once the market's verdict makes the premium math untenable. Episodes of this kind have typically left both names to trade on fundamentals again, with the read-across being that strategic appetite exists even where execution failed. The RBA holding with a slightly less hawkish tone and trimmed CPI forecasts fits the pattern of central banks edging toward easing by degrees, where the tell is language on financial conditions rather than the decision itself, and front-end pricing responds to the next inflation print more than to the statement. The Intel offering, upsized with demand reported at several multiples of the deal, is consistent with how heavily oversubscribed large blocks tend to price, near the indicated level with the discount contained. Elsewhere, the mix of buybacks, guidance raises and broker moves is routine flow that sorts the session's winners and losers at the single-stock level rather than the index level.