Newsquawk Daily European Equity Opening News - 13th November 2026

APAC stocks traded mixed following the choppy and ultimately negative performances stateside in the fallout from Nvidia and co-founder Jensen Huang's resignation. ASX 200 declined with nearly all sectors subdued, while only energy and telecoms showed resilience. Nikkei 225 rallied back above the 61,000 level with mixed price action seen in tech stocks following the Nvidia fallout, as Jensen Huang's exit and the appointment of an interim CEO reduced some uncertainty. KOSPI swung between gains and losses amid tech headwinds and as the latest Export and Import Prices from South Korea slowed from the previous, but continued to show double-digit percentage growth. Hang Seng and Shanghai Comp were lower amid some concerns regarding China's future access to NVIDIA chips in the fallout from Huang's extramarital affairs scandal, while downside in the mainland was somewhat cushioned after the PBoC injected liquidity via both overnight and 7-day reverse repo operations.

CLOSES: Euro Stoxx 50 +0.13% at 6,402, Dax 40 +0.57% at 26,816, FTSE 100 +0.25% at 10,863, CAC 40 +0.34% at 8,361, FTSE MIB -0.27% at 51,809, IBEX 35 -0.31% at 19,966, PSI +0.02% at 9,596, SMI +0.63% at 15,149, AEX -0.44% at 1,140

Wise (WISE LN) - H1 2026 (USD): Net Revenue 1.45bln (prev. 1.18bln Y/Y). Wise expects FY27 net revenue growth to be in the upper half (17.5-20%) of its 15-20% medium-term target range on a constant currency basis. Wise expects FY27 income before tax margin around the top of its 20-25% range. (Wise)

OTHER UK COMPANIES

BROKER MOVES

OTHER GERMAN COMPANIES

Bechtle (BC8 GY) - Q3 2026 (EUR): Revenue 1.7bln (exp. 1.74bln), EBIT 99mln (exp. 87.4mln). Lifts 2026 outlook: Now expects EBT to grow by more than 10%, (prev. guided 5% to 10%). (Bechtle)

Hugo Boss (BOSS GY) - CEO Grieder to step down effective December 31st; David Epstein, joining from Frasers Group (FRAS LN), appointed CEO effective January 1st 2027. (Hugo Boss)

BROKER MOVES

Siemens (SIE GY) downgraded to Hold from Buy at Vertical Research

Danone (BN FP) - Co. completes its acquisition of MADE Group, expanding its presence in the fast-growing healthy nutrition space in Asia Pacific. (Danone)

Eiffage (FGR FP) - Q3 2026 (EUR): Revenue 6.6bln (exp. 6.18bln); affirms FY26 outlook. (Eiffage)

OTHER FRENCH COMPANIES

BROKER MOVES

Microsoft Outage - An ongoing worldwide Microsoft outage has resulted in several companies in the Australasia region, and Richemont (CFR SW) to delay the publication of their results.

Enel (ENEL IM) - 9M 2026 (EUR): Revenue 65.02bln (prev. 60bln Y/Y); Adj. EBITDA 18bln (exp. 17.7bln); Adj. net income 6.02bln (prev. 5.7bln Y/Y). (Enel)

Generali (G IM) - 9M 2026 (EUR): Adj. Net Income 3.68bln (exp. 3.56bln), GWP 76.5bln (exp. 76.8bln), Op. Income 6.45bln (exp. 6.48bln). Affirms outlook. (Generali)

Stellantis (STLAM IM/STLAP FP) - Canadian Industry Minister Joly says Stellantis is in default of a Canadian funding agreement and on the hook for hundreds of millions. (Stellantis)

BROKER MOVES

Galp Energia (GALP PL) upgraded to Outperform from Neutral at Oddo

Novartis (NOVN SW) - New long-term Rhapsido (remibrutinib) Phase III data show sustained efficacy through week 52 in chronic inducible urticaria (CIndU). (Novartis)

Richemont (CFR SW) - Co. delays H1 earnings due to Microsoft (MSFT) outage. (Richemont)

OTHER SWISS COMPANIES

ams OSRAM (AMS SW) - Q3 2026 (EUR): Revenue 829mln (exp. 844mln), EPS -0.36 (prev. 0.27 Y/Y). Guides Q4 Revenue 750-850mln (exp. 823mln). (ams OSRAM)

BROKER MOVES

Carlsberg A/S (CARLB DC) - Carlsberg plans investor meetings as early as next week for an India IPO potentially raising USD 600mln at a USD 4bln valuation, Bloomberg reports. The offering, potentially launching in January, would involve the Danish parent selling up to 15% of Carlsberg India. (Carlsberg)

BROKER MOVES

CLOSES: SPX -0.35% at 7,593, NDX -0.30% at 28,289, DJI -0.36% at 52,299, RUT -1.61% at 2,800

SECTORS: Materials -1.49%, Industrials -0.91%, Financials -0.73%, Health -0.66%, Real estate -0.5%, Technology -0.42%, Consumer staples -0.14%, Consumer discretionary flat, Utilities flat, Communication services +0.37%, Energy +1.5%.

Anthropic (ANT) - Anthropic’s planned Nasdaq IPO next week carries an indicative USD 1.25-1.4tln valuation, although investors expect pricing above that range, The Information reports; Morningstar estimates its value at USD 1.7tln. Other reports have stated that the IPO is now around six times oversubscribed. Investors are assessing Anthropic’s ability to sustain rapid revenue growth, expand beyond coding assistants and secure computing capacity, alongside uncertainty following Nvidia CEO Jensen Huang’s departure, the report adds.

Applied Materials (AMAT) - Shares edged higher as stronger than expected quarterly earnings and revenue, alongside upbeat sales guidance, reflected robust AI-driven demand for semiconductor manufacturing equipment and expectations of continued growth in chipmaker investment. Q4 adj. EPS 4.16 (exp. 4.06), Q4 revenue USD 10.41bln (exp. 10.3bln), Q4 adj. net income USD 3.32bln (exp. 3.24bln), Q4 adj. operating income USD 3.68bln (exp. 3.62bln). Semiconductor Systems revenue +64% Y/Y to USD 8.0bln, supported by strong AI-driven demand for advanced chipmaking equipment. China revenue +35% Y/Y to USD 2.64bln, accounting for 25% of total revenue (vs 29% Y/Y). CEO Gary Dickerson noted record FY26 performance, with Semiconductor Systems revenue expected to grow more than 40% in calendar 2026, and anticipates another record year in 2027 as wafer fabrication equipment demand increases by more than 30%. Sees Q1 adj. EPS between 4.15-4.55 (exp. 4.21), including a 0.04/shr tax benefit and excluding 0.01/shr in acquisition-related charges; sees Q1 revenue between USD 10.6-11.6bln (exp. 10.74bln).

Cisco (CSCO) - Cisco shares slipped in US afterhours trading as slowing product order growth and softer AI orders from hyperscale customers overshadowed stronger than expected quarterly earnings and revenue, upgraded FY guidance and robust demand for AI networking equipment. Q1 adj. EPS 1.40 (exp. 1.33), Q1 revenue +24% Y/Y at USD 18.52bln (exp. 18.13bln), marking the strongest revenue and adj. EPS growth in over 15 years. Q1 product orders +21% Y/Y (vs +35% in Q4). Adj. gross margin declined to 65.6% (vs 68.1% Y/Y), with product gross margin at 63.7%, and services gross margin at 72.9%. Remaining performance obligations +8% Y/Y to USD 46.2bln, while deferred revenue +7% Y/Y to USD 30.1bln. Cisco IQ customers nearly doubled Q/Q to over 17,000, covering 23mln devices. CEO Chuck Robbins highlighted strong AI networking demand and enterprise network upgrades, although hyperscaler orders remain uneven between quarters. Sees Q2 adj. EPS between 1.34-1.36 (exp. 1.23), revenue between USD 18.0-18.2bln (exp. 17.9bln) and adj. gross margin between 65-66%. Raises FY27 adj. EPS guidance to between 5.47-5.53 (exp. 5.11; prev. saw 5.05-5.11) and revenue to between USD 74.8-75.8bln (exp. 73.0bln; prev. saw 72.2-73.4bln). Expects FY27 AI infrastructure revenue of USD 9bln, more than double FY26 levels.