Newsquawk Daily European Equity Opening News - 15th October 2026

APAC stocks were lower across the board as the sell-off rolled over into the region following the losses stateside owing to the tech rout and hot CPI data. ASX 200 was slightly lower but with the downside limited as underperformance in tech and miners was offset by resilience in financials, telecoms and defensive sectors, while disappointing jobs data further lessened the likelihood of the central bank hiking rates again next month. Nikkei 225 slumped by more than 3000 points, with double-digit losses seen in several tech stocks. KOSPI was the worst performer and triggered circuit breakers after dropping as much as 8% owing to its large tech exposure and the ongoing bloodbath in the sector. Hang Seng and Shanghai Comp conformed to the broad-based tech-driven weakness, with recent stronger-than-expected lending data doing little to spur risk sentiment.

MediaTek (2454 TT), ByteDance - ByteDance is reportedly nearing an agreement to buy MediaTek data centre semiconductors, Bloomberg reports. (Bloomberg)

SK Hynix (000660 KS) - Co. has reportedly conditioned a new US factory on the approval to export US chipmaking equipment to China to increase production, Reuters reports. (Reuters)

TSMC (2330 TT) - Q3 2026 (TWD): Revenue 1.49tln (prev. 989bln Y/Y), Net Income 763.1bln (exp. 746.3bln), Gross Margin 66.4% (exp. 66.5%, prev. 59.5% Y/Y), high performance computing revenue +22% Q/Q.

CLOSES: Euro Stoxx 50 +0.33% at 6,188, Dax 40 +0.25% at 25,322, FTSE 100 +0.70% at 10,725, CAC 40 +0.58% at 7,873, FTSE MIB -0.61% at 49,754, IBEX 35 +0.10% at 19,231, PSI +0.38% at 9,416, SMI +1.45% at 14,130, AEX +0.69% at 1,137

Ex-Dividends - Howden Joinery (HWDN LN), Diageo (DGE LN), Spirax (SPX LN), Smiths Group (SMIN LN), Tesco (TSCO LN) will trade without entitlement to their latest dividend. (dividenddata)

OTHER UK COMPANIES

BROKER MOVES

Derwent London (DLN LN) upgraded to Hold from Underperform at Jefferies

Land Securities (LAND LN) upgraded to Hold from Underperform at Jefferies

Pennon (PNN LN) upgraded to Hold from Reduce at Kepler Cheuvreux

German Defence - The German Government is reportedly in talks to acquire a 50% stake in KNDS, Reuters reports. (Reuters)

OTHER GERMAN COMPANIES

BROKER MOVES

Pernod Ricard (RI FP) - Q1 2027 (EUR): Revenue 2.23bln (exp. 2.25bln), Organic Sales +0.9% (exp. -1.24%). Expects FY27 Organic Net Sales broadly stable, with declines in the US and China while continued positive momentum in RoW. Projects FY27-29 Organic Net Sales at the lower end of the +3-6% range. Sales by Region: Americas -9%, USA -10%, Asia-RoW +9%, India +19%, China -25%, Europe -6%. Sales in the US and China were impacted by inventory adjustments, as expected. Underlying trends are expected to improve in China. The decision to proceed to an Indian IPO remains subject to board approval. (Pernod Ricard)

Saint-Gobain (SGO FP) - Co. acquires D.S Brown, no terms disclosed. (Saint-Gobain)

OTHER FRENCH COMPANIES

Gecina (GFC FP) - Q3 2026 (EUR): Gross Rental Income EUR 531.7mln (prev. 539.2mln Y/Y), LFL Rental growth +1.7% Y/Y. Confirms its FY26 guidance. (Gecina)

GTT (GTT FP) - Co. receives an order from the Hanwha Ocean shipyard for the design of cryogenic tanks for two new LNG carriers, delivery scheduled for Q4'29. (GTT)

Nexans (NEX FP) - Co. appoints Stéphane Artaud as COO, effective November 1st 2026. (Nexans)

BROKER MOVES

TomTom (TOM2 NA) - Q3 2026 (EUR): Revenue 129mln (exp. 131mln), EBIT 6mln (prev. 8.4mln Y/Y), Net Income 5.1mln (prev. 9.1mln Y/Y). Guides FY26 Revenue between 505-530mln (prev. guided 495-555mln) and Operating Margin "around" +4% (prev. guided "around" +3%). Announces organisational changes by reorganising the Co. around three divisions: Automated Driving, Location Intelligence and Navigation. Changes will impact around 200 roles. (TomTom)

BROKER MOVES

ArcelorMittal (MT NA) upgraded to Overweight from Neutral at JPMorgan

Galderma (GALD SW) - Co. announces new phase 2 data showing that nemolizumab provided meaningful improvements in itch, sleep disturbance, and quality of life in children aged 2-11 years with moderate-to-severe atopic dermatitis. (Galderma)

UBS (UBSG SW) - Co. is reportedly mapping out contingency plans to move its HQ from Switzerland if Swiss lawmakers proceed with tougher capital requirements under the country’s too-big-to-fail banking laws, according to the WSJ. (WSJ)

OTHER SWISS COMPANIES

VAT Group (VACN SW) - Q3 2026 (CHF): Revenue 376.4mln (exp. 378.2mln), Order Intake 696.6mln (prev. 238.1mln Y/Y), Order Backlog 979.5mln (prev. 258.8mln Y/Y). Guides Q4 sales between 420-450mln (exp. 432.6mln) and a book-to-bill ratio above one. (VAT Group)

BROKER MOVES

Kuehne+Nagel (KNIN SW) initiated with Sector Perform at RBC

EQT (EQT SS) - Q3 2026 (EUR): Gross inflows 41.6bln, FAUM 195bln (prev. 139bln Y/Y), Total AUM 354bln (prev. 267bln Y/Y), Net Inflows to Key Funds 10.9bln. Elsewhere, the Co. acquires Stockbridge for USD 375mln. (EQT)

Ericsson (ERICB SS) - Q3 2026 (SEK): Revenue 59.5bln (exp. 55.27bln), Adj. EBITA 10.1bln (exp. 8.13bln), Adj. Gross Margin 47.7% (exp. 47.4%), Operating Profit 8.86bln (exp. 7.12bln), Net Profit 5.81bln (exp. 5.09bln), Networks Adj. Gross Margin 50.3% (guided 48-50%). Guides Q4 Networks Adj. Gross Margin 49-51%. CEO: "Looking ahead, the RAN market is flat, geopolitical uncertainty remains elevated and component costs are a headwind to gross margin next year." Additionally, the Co. announces changes to its operating structure and Executive Team. (Ericsson)

Nordea (NDAFI FH) - Q3 2026 (EUR): EPS 0.35 (exp. 0.36), NII 1.8bln (exp. 1.81bln), Operating Income 2.97bln (exp. 2.99bln), Net Fee and Commission Income 880mln (prev. 811mln Y/Y). Guides FY26 ROE "greater than" 15% and a cost-to-income ratio of 44-45%. (Nordea)

BROKER MOVES

Mycronic (MYCR SS) downgraded to Hold from Buy at SEB

Telia (TELIA SS) upgraded to Buy from Hold at Deutsche Bank

CLOSES: SPX -1.05% at 7,724, NDX -2.02% at 29,951, DJI -0.09% at 51,622, RUT -1.90% at 2,730

SECTORS: Technology -2.62%, Communication services -1.73%, Consumer discretionary -1.1%, Industrials -0.96%, Real estate -0.82%, Financials -0.61%, Materials -0.44%, Utilities -0.31%, Energy +0.8%, Consumer staples +2.38%, Health +2.44%.

Anthropic - Anthropic revenue rose to USD 16.8bln in Q3 (prev. USD 11.5bln Q/Q), while it told investors it was profitable on an adjusted basis, Bloomberg reports citing sources. The source added that the Co. is generating positive FCF, had adj. gross margin of 85% and an over 11% positive adj. operating margin as of Q3. (Bloomberg)

Weight-Loss Drugs - A study in the Lancet Psychiatry shows that patients on GLP-1s were 24% less likely to be admitted to a psychiatric hospital than people not taking the drugs, and 29% less likely to go to the emergency room for a mental health crisis. (Lancet Psychiatry) Of note for Eli Lilly (LLY) and Novo Nordisk (NOVOB DC)