Newsquawk Daily European Equity Opening News - 14th October 2026

APAC stocks were ultimately mixed as the region clawed back some of the recent tech-related losses, while participants also digested key releases from China, including inflation and trade figures. ASX 200 declined with the index dragged lower by underperformance in the top-weighted financials sector, while sentiment amongst miners was not helped by the indecision in Rio Tinto following its quarterly production update. Nikkei 225 reclaimed the 68,000 level as tech stocks got some reprieve from recent selling. KOSPI was among the biggest gainers as tech rebounded from the recent underperformance. Hang Seng and Shanghai Comp were flat as participants digested a slew of data, including stronger-than-expected trade figures and mixed inflation numbers in which CPI printed softer-than-expected, while PPI was hot and showed a faster-than-anticipated acceleration in factory gate prices.

Chinese Inflation - CPI (Sep YY) 0.9% vs. Exp. 1% (Prev. 0.8%); CPI (Sep MM) 0.2% vs. Exp. 0.3% (Prev. 0.4%); PPI (Sep YY) 5.0% vs. Exp. 4.5% (Prev. 3.8%)

China Trade Data - Trade Balance (Sep) 133.53B vs. Exp. 118.1B (Prev. 119.09B); Exports (Sep YY) 36.3% vs. Exp. 25.5% (Prev. 25%); Imports (Sep YY) 31% vs. Exp. 24.5% (Prev. 28.2%)

CLOSES: Euro Stoxx 50 -0.59% at 6,165, Dax 40 -0.10% at 25,251, FTSE 100 -0.06% at 10,650, CAC 40 -0.07% at 7,828, FTSE MIB +0.04% at 50,057, IBEX 35 -0.39% at 19,211, PSI +0.73% at 9,380, SMI +0.36% at 13,928, AEX -0.54% at 1,129

Glencore (GLEN LN) - Co. has begun trading on the ASX under the ticker GLC AT. (Glencore)

Rio Tinto (RIO LN) - Q3 Operations Review: Pilbara iron ore production 83.4mln tonnes,-1% Y/Y; Pilbara iron ore sales 85.7mln tonnes, +2% Y/Y; Copper Production 205k tonnes, 0% Y/Y; Lithium Production 13k tonnes, +4% Y/Y. Maintains its production and sales guidance, but sees lithium output for the FY being at the lower end of guidance due to weather-related disruption at operations in Argentina. Says ongoing disruptions in the Middle East continued to drive volatility in energy and freight markets but operational impacts remained limited, with no material disruption to production or outbound supply chains. (Rio Tinto)

Standard Chartered (STAN LN) - Co. announces the launch of a new, first-of-its-kind cryptocurrency trading solution, enabling affluent clients to access digital assets securely through the Bank’s platform. (Standard Chartered)

UK Retail - UK Chancellor Healey is reportedly targeting online marketplaces in a GBP 1bln tax crackdown, according to The Times. The report added that the likes of Amazon (AMZN), eBay (EBAY) and Temu will be forced to collect VAT to fund business rate cuts for high street shops. (The Times)

OTHER UK COMPANIES

Big Yellow Group (BYG LN) - Activist investor, Ancora, says Big Yellow has a resilient business model but has been materially undervalued in the public market and believes the Co. can deliver value to shareholders by launching a comprehensive strategic review, including a sale process. (Newswires)

BROKER MOVES

Pennon (PNN LN) upgraded to Buy from Hold at Jefferies

OTHER GERMAN COMPANIES

Freenet (FNTN GY) - Co. acquires full ownership of waipu.tv, at an initial agreed purchase price of EUR 76mln. (Freenet)

BROKER MOVES

OTHER FRENCH COMPANIES

BROKER MOVES

Getlink (GET FP) downgraded to Hold from Buy at Kepler Cheuvreux

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

ASML (ASML NA) - Q3 2026 (EUR): Basic EPS 12.95 (exp. 10.68), Revenue 11.66bln (exp. 11.58bln), New lithography systems sold 113 (prev. 86 Q/Q), Gross Profit 6.70bln (exp. 6.56bln), Gross margin 57.5% (exp. 56%, guided 55-57%), Net Income 4.96bln (exp. 4.17bln). Q4 guidance: Net Sales 14.2-15.2bln (exp. 14bln), Gross margin "around" 57%, R&D costs "around EUR 1.2bln. FY guidance: Total net sales 44-45bln (exp. 43.6bln, prev. guided 43-45bln), Gross margin "around" 56% (prev. guided 54-56%). CEO: "Our customers continue to increase their short- and medium-term equipment demand forecasts with us, driven primarily by their views on the size and duration of AI-related investments." On demand , the CEO says that they "Now expect that our supply as currently planned for both 2027 and 2028 will not fully meet the demand of our customers. As a result, we are investigating ways to increase capacity for 2028 beyond the 30% increase we previously communicated." Expects to ship above 65 low-NA EUV tool systems, which is more than 50% Y/Y. (ASML) Shares are indicated lower by 3.3% on Tradegate

BROKER MOVES

Wienerberger (WIE AV) initiated with Hold at Jefferies

Galderma (GALD SW) - Co. acquires ZO Skin Health for USD 1.5bln, deal expected to close in Q4'26 or early 2027. Co. says it is expected to be Core EPS neutral in the first full year following closing. (Galderma)

Lonza (LONN SW) - Reiterates its FY26 outlook and its expectation of a negative FX impact of approximately 2-3% on 2026 sales growth. Co. also upgraded its Organic Growth model, now sees 10-13% organic CER sales growth on average over time. (Lonza)

UBS (UBSG SW) - The Swiss Secretariat of the Economic Affairs and Taxation Committees voted to support in principle a lump-sum fee for major banks with substantial foreign operations, which would grant the firms access to public liquidity guarantees under “too big to fail” regulation. (Swiss Parliament)

OTHER SWISS COMPANIES

Sonova (SOON SW) - Co. launches the new Roger On Sphere remote microphone, which takes proprietary real-time AI beyond hearing aids, while Advanced Bionics’ new Integro sound processors bring Phonak-powered hearing performance and connectivity to cochlear implant recipients. (Sonova)

Swisscom (SCMN SW) - The FAC ruled that the point-to-multipoint topology originally adopted by Swisscom for the fibre rollout neither infringed competition law nor fulfilled the conditions for the measures ordered by the COMCO. FY26 outlook remains unchanged. (Swisscom)

BROKER MOVES

Swiss Re (SREN SW) downgraded to Underperform from Hold at Jefferies

Aker BP (AKRBP NO) - Q3 Trading Update: Net Volume Production 374.3mln BOEPD (prev. 383.6mln BOEPD Q/Q), Net Volume Sold 395.7mln BOEPD (prev. 375.7mln BOEPD Q/Q). (Aker BP)

Kesko (KESKOB FH) - Reports September Total Revenue EUR 1.2bln, +4.8% Y/Y. LFL sales +4.3% Y/Y. (Kesko)

SEB (SEBA SS) - Sweden's Finansinspektionen has decided to impose a temporary add-on to SEB’s capital requirements. This follows FI’s identification of more extensive deficiencies related to SEB’s internal credit risk models than previously known. The add-on aims to mitigate the consequences of the model deficiencies until they are remedied. (FI)

Zealand Pharma (ZEAL DC) - Co. will collaborate with Generate Biomedicines to develop protein therapeutics engineered with AI for metabolic diseases. Generate will receive USD 30mln up-front, up to USD 35mln in early preclinical milestones, and a total of nearly USD 1.2bln in milestones. (Zealand Pharma)

BROKER MOVES

CLOSES: SPX -0.01% at 7,806, NDX -0.31% at 30,569, DJI -0.35% at 51,671, RUT -0.39% at 2,784

SECTORS: Health -1.32%, Financials -0.4%, Consumer staples -0.33%, Industrials -0.29%, Real estate -0.28%, Consumer discretionary flat, Technology flat, Materials +0.37%, Utilities +0.57%, Communication services +0.88%, Energy +1.76%.