Newsquawk Daily European Equity Opening News - 13th January 2026

ASIA

Asia-Pac stocks followed on from Monday’s gains, with equities mostly in the green. ASX 200 started the session on the front foot, +0.4%, before extending gains and currently trading just shy of session highs at 8835. With spot XAU trading near ATHs, this has aided sectors such as metals and mining (2.0%) to continue Monday’s gains. Nikkei 225 returned from its long weekend with a gap higher, resulting in the index opening with gains as much as 3.7% and forming new ATHs. This comes amid a weaker JPY and growing speculation of PM Takaichi dissolving parliament. Japanese media noted that the LDP was looking to capitalise on Takaichi's high approval ratings. KOSPI opened Tuesday’s trade at ATHs and oscillated at highs before peaking at 4681 and slightly paring back, but remains comfortably in the green. Hang Seng and Shanghai Comp. opened in line with the broader sentiment, with the former surging higher, aided by gains in Gigadevice (3986 HK). The latter is the laggard across Asia-Pacific equities, trading with slight gains of 0.2%.

Samsung Electronics (005930 KS) - Co. is to supply automotive 5G modems to Tesla (TSLA). (Newswires)

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +0.32% at 6,017, Dax 40 +0.54% at 25,398, FTSE 100 +0.16% at 10,141, CAC 40 -0.04% at 8,359, FTSE MIB +0.03% at 45,732, IBEX 35 +0.14% at 17,674, PSI -0.31% at 8,494, SMI +0.02% at 13,425, AEX +0.54% at 994.

SECTORS: Materials 0.74%, Consumer Stpl 0.48%, Industrials 0.47%, Energy 0.45%, Financials 0.27%, IT 0.26%, Telecoms 0.09%, Consumer Disc -0.10%, Healthcare -0.16%, Utilities -0.94%

FTSE 100

UK BRC - UK BRC Retail Sales YY (Dec) 1.0% (Prev. 1.2%). (BRC)

OTHER UK COMPANIES

BROKER MOVES

AB Foods (ABF LN) downgraded to Sell from Neutral at Goldman Sachs

BAE Systems (BA/ LN) downgraded to Hold from Buy at Deutsche Bank

Land Securities (LAND LN) upgraded to Neutral from Sell at Kempen

DAX

Bayer (BAYN GY) - Bayer's pharmaceuticals unit is returning to growth as new cancer and kidney disease drugs offset revenue lost to patent expirations, an exec said, describing the business as turning a corner and a comeback story, Bloomberg reports. (Bloomberg)

Symrise (SY1 GY) - Co. to buy back shares for EUR 400mln. Elsewhere, Co. is to divest its terpenes business and make non-cash impairment. Symrise AG's investment in Swedencare AB is subject to a non-cash impairment. Non-cash impairment around EUR 150mln in Q4 which will have a negative impact on EBITDA. (Symrise)

OTHER GERMAN COMPANIES

Nordex (NDX1 GY) - Trading Update: In Q4, the Co. secured 3,552 MW of orders in the Projects segment, +9.2% Y/Y. (Nordex)

Sudzucker (SZU GY) - 9M (EUR): Revenue 6.35bln (prev. 7.46bln Y/Y), EBITDA 367mln (prev. 502mln Y/Y). Revenues declined in the sugar, special products, CropEnergies and starch segments, but increased in the fruit segment. Confirms fiscal outlook for 25/26 but a deterioration in the operating result, a significant decline in ROCE (prev. 5.2% in 2024/25) is seen. (Sudzucker)

BROKER MOVES

Continental (CON GY) resumed with Buy at Bank of America

Continental (CON GY) downgraded to Hold from Buy at Berenberg

CAC

Airbus (AIR FP) - Deliveries in 2025: 793 and booked 1,000 gross Aircraft orders in 2025; booked 889 net Aircraft orders in 2025. Elsewhere, the CEO said supply chain constraints persist; sees strong continued demand for travel and aircraft; in talks on engine delays particularly with Pratt & Whitney (RTX). (Newswires)

EssilorLuxottica (EL FP) - Meta Platforms (META) - Meta plans to cut around 10% of its Reality Labs staff as it shifts priorities from Metaverse Virtual Reality products towards AI, reallocating budgets, data centres and wearables, NYT reports. Augmented reality teams, including smart glasses, are largely expected to be spared. (NYT)

Sanofi (SAN FP) - CEO says company expects to maintain double digit growth for next half decade, via JPM conference. Elsewhere, US FDA approves efficacy supplement of CEREZYME. (Sanofi) (Newswires)

Michelin (ML FP) - Co. expects polymer composite solutions revenues to increase by 20% or USD 280mln. (Newswires)

OTHER FRENCH COMPANIES

BROKER MOVES

Klepierre (LI FP) downgraded to Sell from Neutral at Kempen

Icade (ICAD FP) downgraded to Sell from Neutral at Kempen

Michelin (ML FP) initiated with Hold at Berenberg

Thales (HO FP) downgraded to Hold from Buy at Deutsche Bank

PAN EUROPE

Argenx (ARGX BB) - Co. announces the FDA acceptance of supplemental biologics License Application with priority review for VVGART in AChR-AB Seronegative gMG. (Argenx)

Brunello Cucinelli (BC IM) - Prelim 2025: Turnover EUR 1.41bln, +11.5% at constant exchange rate, exceeding expectations set at the beginning of the year; Q4 revenue EUR 388.6mln, +11.9%. (Brunello Cucinelli)

Credit Agricole (ACA FP) / Banco BPM (BAMI IM) - ECB approves Credit Agricole to surpass the 20% threshold in Banco BPM’s share capital. (Credit Agricole)

TomTom (TOM2 NA) - TomTom and Miovision partner to deliver advanced data analytics for improved traffic signal optimization. (TomTom)

Trade - US President Trump says any countries doing business with Iran are to pay a 25% tariff on any or all business being done with the US

BROKER MOVES

ASM International (ASM NA) downgraded to Underperform from Hold at Jefferies; analysts highlight that the broader semiconductor space have re-rated, though underlying trends remain subdued, adding that demand outside AI is weak.

Ferrari (RACE IM) downgraded to Hold from Buy at HSBC

Heineken (HEIA NA) downgraded to Hold from Buy at HSBC

Pirelli (PIRC IM) initiated with Buy at Berenberg

SMI

Lindt & Sprüngli (LISN SW) - 2025 (CHF): Sales 5.92bln (exp. 5.9bln, prev. 5.47bln Y/Y); Europe organic sales growth 2.96bln, +15.3% Y/Y; North America 2.18bln, +8.9% Y/Y. 2026: Continues to reiterate its medium- to long-term organic sales growth targets. (Lindt)

Novartis (NOVN SW) - CEO says capital allocation priorities remain unchanged, will continue to do value creating Bolt on deals, via JPM conference. Adds that it has delivered a strong track record of sales growth and margin expansion (Newswires)

Roche (ROG SW) - Co. affirms FY25 guidance. (Newswires)

Sika (SIKA SW) - FY (CHF): Sales 11.2bln (exp. 11.3bln). Highlights that it achieved market share gains across all regions. 2025 EBITDA margin expected to be slightly above 19%, excluding “Fast Forward” one-off costs. Noted that China saw continued market weakness in the residential building sector. (Sika)

UBS Group (UBSG SW) - UBS chief executive Sergio Ermotti plans to step down in April 2027 after leading the integration of Credit Suisse, FT reports citing sources. His planned departure comes as UBS disputes Swiss proposals to raise capital requirements by about USD 24bln and prepares a succession process. (FT)

OTHER SWISS COMPANIES

ams OSRAM (AMS SW) - Co. its in advanced discussions on the potential sale of certain units, as part of its deleveraging plans. (Newswires)

DKSH (DKSH SW) - Co. gets approval from SBTi for near term and net zero emissions target. (DKSH)

BROKER MOVES

VAT Group (VACN SW) downgraded to Underperform from Hold

SCANDINAVIA

Orsted A/S (ORSTED DC) - A US judge ruled that Orsted can resume construction of the Revolution Wind project off Rhode Island while it challenges a federal stop-work order, Bloomberg reports. The court said the nearly 90%-complete project would suffer irreparable harm if halted during litigation. (Bloomberg)

BROKER MOVES

Novo Nordisk (NOVOB DC) PT cut to DKK 455 (prev. 480) at Danske Bank

Metso (METSO FH) downgraded to Hold from Buy at Danske Bank

Yara (YARA NO) upgraded to Buy from Hold at Danske Bank

US

CLOSES: SPX +0.16% at 6.977, NDX +0.08% at 25,788, DJI +0.17% at 49,590, RUT +0.44% at 2,636

SECTORS: Consumer Staples +1.42%, Industrials +0.75%, Materials +0.74%, Technology +0.35%, Real Estate +0.23%, Utilities +0.19%, Health +0.07%, Consumer Discretionary +0.04%, Communication Services +0.02%, Energy -0.66%, Financials -0.80%

Citigroup (C) - Citigroup plans to cut about 1k jobs this week, as part of a plan announced two years ago to reduce the workforce by 20k by the end of this year, Reuters reports citing a source. (Reuters)

Microsoft (MSFT) - President Trump said that Microsoft will make changes to prevent consumers paying higher electricity bills as it expands AI data centres. He said his administration is working with technology companies, noting that utility companies charged consumers 6% more for electricity in August.