Newsquawk Daily European Equity Opening News - 13th October 2026

APAC stocks mostly declined amid a tech sell-off following the mixed handover from Wall Street, where the Nasdaq underperformed as chip and memory names were pressured by China competition concerns after CXMT announced technological progress on a denser memory chip design. ASX 200 outperformed its regional peers with price action range-bound as the downside in tech and miners was offset by strength in energy, financials and defensive sectors. Nikkei 225 suffered from the tech-related pressure as participants returned from the long weekend. KOSPI slumped alongside the tech sell-off, with a sidecar triggered early on due to heavy losses. Hang Seng and Shanghai Comp conformed to the tech-led declines across the region, with weakness in autonames after reports that China will cut the VAT export tax rebate rate on new energy vehicles to 9% from 13%.

CLOSES: Euro Stoxx 50 +0.45% at 6,201, Dax 40 +0.72% at 25,268, FTSE 100 +0.99% at 10,656, CAC 40 +0.38% at 7,833, FTSE MIB +0.58% at 50,035, IBEX 35 +1.33% at 19,286, PSI +0.47% at 9,311, SMI +0.68% at 13,881, AEX +0.40% at 1,135

AstraZeneca (AZN LN) - Co. tells investors that they expect several high-value biopharmaceuticals and oncology catalysts over the next 12-18 months and confidence has been strengthened over the past two years given the strong commercial performance and pipeline progress. Affirms efzimfotase alfa peak sales of USD 3-5bln, regardless of label breadth. (Newswires)

Shell (SHEL LN) - The Chair of Shell Australia criticised the Australian government's plan to force LNG producers to reserve a portion of their output for domestic use. (Reuters)

UK Consumers - UK Barclays Consumer Spending YY (Sep) 2.0% (prev. 2.1%); BRC Retail Sales Monitor (Sep YY) 1.0% vs. Exp. 0.7% (Prev. 0.5%)

OTHER UK COMPANIES

BROKER MOVES

AstraZeneca (AZN LN) upgraded to Buy from Sell at Nordea

Natwest (NWG LN) upgraded to Overweight from Equal Weight at Barclays

OTHER GERMAN COMPANIES

Fraport (FRA GY) - Reports September Passengers 6.1mln, +1.6% Y/Y. (Fraport)

BROKER MOVES

Credit Agricole (ACA FP) - Co. agrees to buy IKB Deutsche Industriebank, no terms disclosed. IKB Deutsche Industriebank has EUR 14.3bln in assets. (Credit Agricole) Shares are indicated lower by 3.1% on Tradegate

LVMH (MC FP) - Q3 2026 (EUR): Sales 18.50bln (exp. 18.47bln), Fashion & Leather Goods sales 8.25bln, -5% (exp. 8.39bln, -1.57%). Other sales metrics: Wines & Spirits +6% (exp. +1.2%), Perfumes & Cosmetics +1% (exp. 0%), Watches & Jewelry +6% (exp. +8%), Selective Retailing +8%. CFO says Q3 was marked by macro led challenges in China, the Middle East situation is still a headwind, and adds short-term cost-cutting will not increase sales. Fashion & Leather Goods are the most exposed to Asia, resulting from mid-single digit revenue declines, while they see improving trends in Europe and continued growth in US demand. (LVMH) LVMH US ADR fell 2.5%

Publicis Groupe (PUB FP) - Q3 2026 (EUR): Net Revenue 3.81bln (exp. 3.75bln, prev. 3.53bln Y/Y), Organic Net Revenue Growth +5% (exp. +4.8%). Confirms its FY26 guidance. CEO: "Technology improved sequentially, with the U.S. already back to growth and the business expected to turn positive globally in Q4."

STMicroelectronics (STMPA FP) - Co. proposes the reappointment of Jean-Marc Chery as President and CEO, which Chery has accepted. (STMicroelectronics)

TotalEnergies (TTE FP) - Co. CEO announces that they will make varying price cuts for diesel and heating fuel from November 1st-January 31st, with road diesel cut by c. EUR 0.10/ltr, as it distributes part of the French government's strategic reserves. (Bloomberg)

OTHER FRENCH COMPANIES

Eramet (ERA FP) - Co. confirms the EUR 500mln rights issue, to be launched and executed in Q4'26, as planned. (Eramet)

BROKER MOVES

LVMH (MC FP) reiterated with Buy at Goldman Sachs

Societe Generale (GLE FP) upgraded to Market Perform from Underperform at Keefe Bruyette

Spie (SPIE FP) initiated with Sector Perform at RBC

Technip Energies (TE FP) upgraded to Buy from Neutral at Goldman Sachs

BMPS (BMPS IM), Intesa Sanpaolo (ISP IM) - BMPS says Intesa's new takeover offer has left investors exposed to several uncertainties, while forcing them to drop a possible alternative plan. (BMPS)

CSG NV (CSG NA) - Co. announces the acquisition of shares resulting in a 9.5% equity position in MDA Space. (CSG)

Flughafen Wien (FLU AV) - Reports September Passenger traffic 4.1mln, -2.0% Y/Y. (Flughafen Wien)

BROKER MOVES

Givaudan (GIVN SW) - Q3 2026 (CHF): Revenue 2.09bln (exp. 2.03bln), LFL sales +8.6% (exp. +5.2%). Affirms its 2030 targets. Co. says that they have implemented price increases in collaboration with its customers to fully compensate for the increases in input costs. (Givaudan) Shares are indicated higher by 4.3% on Tradegate

OTHER SWISS COMPANIES

ams-OSRAM (AMS SW) - Co. announces that it is joining the Short-Reach Micro-Emitter Optics workstream dedicated to developing a specification within the Open Compute Project for a new class of high-speed data centre interconnects. (ams-OSRAM)

Sulzer (SUN SW) - Reports YTD Q3 order intake of CHF 2.75bln, +1.8% Y/Y, reflecting the anticipated strong back-end loaded year. Confirms FY26 guidance. (Sulzer)

BROKER MOVES

Ypsomed (YPSN SW) initiated with Buy at Berenberg

Zurich Insurance (ZURN SW) reinitiated with Neutral at Goldman Sachs

Equinor (EQNR NO) - Co. signs a five-year deal for the delivery of natural gas to Eneco, with the deal covering around 900mln cubic metres. (Equinor)

Nokia (NOKIA FH) - Co. agrees to sell Enterprise Campus Edge business to AURELIUS, no terms disclosed. (Nokia)

BROKER MOVES

Maersk (MAERSKB DC) downgraded to Sell from Hold at SEB

SEB (SEBA SS) upgraded to Market Perform from Underperform at Keefe Bruyette

CLOSES: SPX -0.05% at 7,807, NDX -0.71% at 30,665, DJI +0.41% at 51,867, RUT -0.39% at 2,796.

SECTORS: Energy +1.48%, Consumer Staples +1.22%, Communication Services +1.12%, Real Estate +0.87%, Health +0.68%, Financials +0.57%, Utilities +0.53%, Materials +0.12%, Industrials -0.07%, Consumer Discretionary -0.73%, Technology -0.90%.