Newsquawk Daily European Equity Opening News - 16th October 2026

APAC stocks were mostly higher as global markets regained composure following the recent tech bloodbath. Elsewhere, Indonesian stocks are the outlier with double-digit percentage losses as the MSCI consults on a proposal to reclassify Indonesia from Emerging Market to a Standalone Market Status. ASX 200 gained with the upside led by tech and miners, while recent weak jobs data also supported the case for a pause from the RBA at the next meeting. Nikkei 225 recouped some of the losses from the prior day's turmoil. KOSPI outperformed but still has far to go after falling by as much as 8% yesterday. Hang Seng and Shanghai Comp conformed to the broad recovery in risk assets, while PBoC Governor Pan also recently reiterated that China would maintain a moderately loose monetary policy.

CLOSES: Euro Stoxx 50 -0.31% at 6,171, Dax 40 +0.35% at 25,386, FTSE 100 +1.04% at 10,837, CAC 40 +0.78% at 7,935, FTSE MIB -0.68% at 49,418, IBEX 35 -0.22% at 19,189, PSI -0.44% at 9,374, SMI +1.49% at 14,341, AEX -0.40% at 1,133

UK Banks - UK Chancellor Healey is to reportedly raise taxes on banks at the Autumn Budget, Bloomberg reports. The source adds that the move will likely involve increasing the bank surcharge that it added on top of the standard corporation tax rate. (Bloomberg)

OTHER UK COMPANIES

Wise Group (WISE LN) - Q2 2027 (USD): Net Revenue 739.1mln (prev. 610.5mln Y/Y), Cross-Border volume 71.7bln (prev. 59mln Y/Y), Active Customers 12.5mln (prev. 10.44mln Y/Y). Guides FY27 net revenue growth in the upper half of its 15-20% medium-term target. (Wise)

BROKER MOVES

AJ Bell (AJB LN) initiated with Hold at Peel Hunt

IG Group (IGG LN) reiterated with Add at Peel Hunt

Kingfisher (KGF LN) initiated with Buy at Panmure Gordon

Lloyds (LLOY LN) downgraded to Sector Perform from Outperform at RBC

OTHER GERMAN COMPANIES

Aixtron (AIXA GY) - Prelim. Q3 2026 (EUR): Revenue 184mln (exp. 179.9mln), EBIT 57mln (prev. 15.4mln Y/Y), Orders 275mln (prev. 124mln Y/Y). Affirms FY26 guidance. (Aixtron) Shares are indicated higher by 1.5% on Tradegate

Nordex (NDX1 GY) - Prelim. Q3 2026 (EUR): Revenue 2.19bln (exp. 2.14bln), EBITDA 278mln (exp. 230.6mln). Raises its FY26 EBITDA margin to 11.5-12.5% (prev. guided 8-11%). (Nordex) Shares are indicated higher by 1.5% on Tradegate

Porsche (P911 GY) - Co. unveils a concept called Mission S, which will be positioned above the 911 in its lineup. (Porsche)

BROKER MOVES

Kering (KER FP) - Alexander McQueen announces the departure of Creative Director Seán McGirr. (Kering)

Sanofi (SAN FP) - Co. announces the successful completion of negotiations with the pCPA, signing a Letter of Intent for Dupixent for four additional indications. The Co. looks forward to working with public payers to support access for eligible patients. (PR Newswire)

Schneider Electric (SU FP) - Q3 2026 (EUR): Revenue 11.46bln (exp. 11.13bln), Organic Revenue Growth +16.19% (exp. +13.8%). Raises its FY26 Adj. EBITA Organic Growth guidance to 18-21% (prev. guided 14-19%) and Organic Revenue Growth to 12-14% (prev. guided 10-13%). CEO: "Data Centers remained a key growth driver as we continue to execute on our backlog while seeing triple-digit demand growth in the quarter, providing increasing visibility into 2027 and 2028. More broadly, demand remained healthy across all four end-markets, supporting another record backlog at quarter-end." (Schneider Electric) Shares are indicated higher by 3.9% on Tradegate

OTHER FRENCH COMPANIES

Alstom (ALO FP) - Co. signs a 15-year extension to its TSA with Greater Anglia in the UK, valued at EUR 947mln. (Alstom)

Aeroports de Paris (ADP FP) - Reports September passenger traffic 34mln, -0.2% Y/Y. Revises its FY26 passenger traffic forecast to a "slight decrease Y/Y" (prev. guided "around" 0.5% growth). Also anticipates FY26 recurring EBITDA at the lower end of EUR 2.3-2.35mln. (ADP)

BROKER MOVES

Bouygues (EN FP) initiated with Buy at UBS

ASML (ASML NA) - Co. is quietly developing an advanced chip-bonding tool that could challenge market leader BE Semiconductor (BESI NA), threatening its TSMC (2330 TT) and Intel (INTC) business, according to SemiAnalysis. (SemiAnalysis)

Brunello Cucinelli (BC IM) - Q3 2026 (EUR): Revenue 374.2mln (exp. 370mln). Raises its FY26 revenue growth outlook to +12% (prev. guided 10-11%) and guides FY27 revenue growth of +10%. 9M Revenue by Region: Europe +7%, Americas 20%, Asia 14%. (Brunello Cucinelli)

EU-China - The EU is reportedly preparing to create new trade powers that could completely shut off China to the single market, with a proposal to be developed by year-end, Bloomberg reports. (Bloomberg)

Telefonica (TEF SM) - Co. is reportedly mulling granting a vendor loan to the buyer of its Mexican unit to help complete a previously announced USD 450mln deal, Bloomberg reports. (Bloomberg)

UCB (UCB BB) - Co. announces that the US FDA has approved the first self-administered once-daily, autoinjector administration option for the treatment of generalized myasthenia gravis in adult patients who are anti-acetylcholine receptor antibody positive with ZILBRYSQ. (UCB)

UniCredit (UCG IM), Commerzbank (CBK GY) - UniCredit receives authorisation from the ECB to cross the 30% equity participation threshold in Commerzbank, and to increase its stake further without upper limits. By year-end, UniCredit will have approximately 50% of Commerzbank's voting rights. (UniCredit)

BROKER MOVES

AIB Group (A5G ID) downgraded to Neutral from Overweight at JPMorgan

Bank of Ireland (BIRG ID) upgraded to Overweight from Neutral at JPMorgan

Roche (ROP SW) - Co. announces that the US FDA has approved Enspryng for the treatment of adults with thyroid eye disease, providing patients with the first and only at-home subcutaneous treatment option. (Roche)

UBS (UBSG SW) - The UK government reportedly tried to persuade UBS to move its HQ and stock market listing to London, the FT reports. The report adds that Rachel Reeves pitched the idea during her time as chancellor to the bank's chair. (FT)

OTHER SWISS COMPANIES

BROKER MOVES

Nestle (NESN SW) upgraded to Overweight from Neutral at JPMorgan

Volvo Cars (VOLCARB SS), Nvidia (NVDA) - Cos expand their partnership to unlock new levels of safety in automated driving technology in future cars from Volvo. (Nvidia)

BROKER MOVES

CLOSES: SPX +0.34 at 7,745, NDX -0.05% at 29,936, DJI +1.08% at 51,178, RUT +1.37% at 2,767

SECTORS: Energy -1.55%, Technology -0.54%, Utilities -0.21%, Consumer staples +0.36%, Industrials +0.49%, Communication services +0.62%, Real estate +1%, Consumer discretionary +1.16%, Financials +1.39%, Materials +1.7%, Health +1.84%.

Alcoa (AA) - Q3 2026 (USD): Adj. EPS 1.82 (exp. 1.51), Revenue 3.7bln (exp. 3.77bln). (Alcoa)