Newsquawk Daily European Equity Opening News - 1st July 2026

ASIA

APAC stocks were mixed, in which bourses partially sustained the positive momentum from the tech-led gains on Wall St, where the S&P 500 and Nasdaq posted their best quarter in six years. The region also digested a slew of data, including the stronger-than-expected BoJ Tankan survey and numerous PMIs. ASX 200 was dragged lower by weakness in the consumer, financial, tech and telecom sectors, while sentiment was also not helped by a surprise contraction in Building Approvals data. Nikkei 225 rallied following the stronger-than-expected Tankan survey, which showed Large Manufacturing Sentiment was at the highest in 8 years, although the index gradually wiped out the majority of its gains amid intervention risks and as the data supported the case for the BoJ to continue normalising policy. KOSPI pared opening gains and lingered in the red as SK Hynix and Samsung Electronics retreated. Shanghai Comp was underpinned on the 105th anniversary of the founding of the Communist Party of China, and as participants digested the latest RatingDog Manufacturing PMI, which remained in expansion territory, while Hong Kong markets were closed for a holiday.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +1.51% at 6,326, Dax 40 +1.43% at 24,979, FTSE 100 +0.12% at 10,497, CAC 40 +0.44% at 8,404, FTSE MIB +1.01% at 51,682, IBEX 35 +0.37% at 19,459, PSI -0.29% at 9,133, SMI -0.21% at 14,194, AEX +1.39% at 1,080

SECTORS: Industrials 2.09%, Materials 0.85%, Energy 0.16%, Financials -0.01%, IT -0.01%, Telecoms -0.01%, Utilities -0.05%, Healthcare -0.19%, Consumer Disc -0.85%, Consumer Stpl -1.01%

FTSE 100

Barclays (BARC LN) - Co. and Frontier have extended a partnership spanning two decades focused on delivering more value, flexibility and rewards to cardmembers. (PR Newswire)

NatWest (NWG LN) - Co. is reportedly being sued for over GBP 250mln for allegedly helping an entrepreneur to move funds from his investment firm, the FT reports. (FT)

Shell (SHEL LN) - Co. has agreed to sell its interests in the Na Kika platform, associated Gulf of America fields and the Coulomb tieback to subsidiaries of Talos Energy and Ridgewood Energy for USD 1.7bln. The assets produced about 37K barrels of oil equivalent per day net to Shell in 2025. Closing is expected by end-2026. (Shell)

Schroders (SDR LN) - Co. is reportedly nearing a sale of its financial planning arm Benchmark Capital for over GBP 200mln to advice firm Söderberg & Partners, the FT reports. (FT)

OTHER UK COMPANIES

BROKER MOVES

Segro (SGRO LN) initiated with Neutral at BNP Paribas

Tritax Big Box (BBOX LN) initiated with Outperform at BNP Paribas

DAX

BMW (BMW GY) - Co. to buyback up to EUR 625mln in shares as part of its third tranche of its share buyback programme. (BMW)

KNDS - Co. is struggling to convince investors to support its IPO at a valuation of over EUR 12bln, with some investors reportedly telling the Co. that its worth less than the figure, the FT reports. (FT)

OTHER GERMAN COMPANIES

BayWa (BYW GY) - Co. has reached an understanding in principle to adjust its restructuring agreement with key creditors and major shareholders, extending financial liabilities until the end of 2030 and providing interest relief. (Investegate)

BROKER MOVES

Bayer (BAYN GY) upgraded to Add from Reduce at AlphaValue

CAC

Airbus (AIR FP) - Co. upgraded to 'A+' at S&P on solid financial flexibility, outlook stable. (S&P)

Credit Agricole (ACA FP), Worldline (WLN FP) - Credit Agricole is to acquire 100% of CAWL as part of an evolution of their partnership for merchant payment services in France. (Worldline)

Sanofi (SAN FP) - Co. discloses that Q2 2026 currency impact is expected at -2% on sales and -3% on business EPS. (Sanofi)

Schneider Electric (SU FP) - Co. is to buy Cognite for USD 3.1bln in cash. (Cognite)

OTHER FRENCH COMPANIES

Abivax (ABVX FP) - Co. launches an ADS offering of around USD 600mln; terms to be disclosed after bookbuilding. (Abivax)

Gaztransport Et Technigaz (GTT FP) - Co. has been awarded a tank design order by Hudong-Zhonghua Shipbuilding for 3 LNG carriers; no terms disclosed. (Gaztransport Et Technigaz)

Ipsen (IPN FP) - Co. is to acquire Memo Therapeutics AG for EUR 200mln upfront and potential consideration over EUR 700mln (Ipsen)

BROKER MOVES

Gecina (GFC FP) initiated with Underperform at BNP Paribas

Klepierre (LI FP) initiated with Neutral at BNP Paribas

PAN EUROPE

Banks - The ECB is reportedly considering raising the minimum reserve requirements to 2% from 1% of banks' customer deposits to cut the ECB's own interest bill and mitigate the side effects of inflation, Reuters reports. Decision to be expected in the autumn. (Reuters)

Eni (ENI IM) - Co. is to reportedly form a partnership with Mercuria to trade energy commodities, according to the FT. (FT)

Retail, Adidas (ADS GY), Puma (PUM GY) - Nike shares fell 3% in extended trading as cautious demand commentary, pressure on consumers worldwide and ongoing weakness in Greater China outweighed stronger-than-expected results. See more details in the US section

ING Group (INGA NA) - Co. is reportedly finalising the acquisition of 40% of Singular Bank, according to Expansion. (Expansion)

Pirelli (PIRC IM) - Co. says it is planning a multi-year investment plan for the US worth between USD 1-1.2bln, aiming to increase production capacity in the US. (Pirelli)

Tenaris (TEN IM) - Co. announces that operations have started at its new service centre in Suriname, built to support the GranMorgu project. (Globe Newswire)

BROKER MOVES

SMI

Lonza (LONN SW) - Co. to expand its strategic collaboration with a US biopharmaceutical company, with the expansion adding 2 biologics programmes. (Lonza)

OTHER SWISS COMPANIES

Galderma (GALD SW) - Co. has received a Complete Response Letter from the US FDA with comments related to observations during manufacturing site inspection and analytical method optimisation for RelabotulinumtoxinA. (Galderma)

BROKER MOVES

Tecan (TECN SW) upgraded to Buy from Neutral at UBS

SCANDINAVIA

Equinor (EQNR NO) - Co. has reached an agreement with Transocean (RIG), allowing Transocean the use of three of its harsh environment semisubmersible rigs on the Norwegian shelf. (Globe Newswire)

Saab (SAABB SS) - Co. has signed a contract with the Swedish Defence Materiel Administration for 16 Gripen E fighter aircraft for Ukraine, with the order valued at c. SEK 24.6bln. (Saab)

Skanska (SKAB SS) - Co. divests a self-developed rental multifamily project in central Sollentuna, Sweden, to the Folksam Group for c. SEK 570mln. (Skanska)

BROKER MOVES

Equinor (EQNR NO) upgraded to Buy from Hold at Nordea

Nokia (NOKIA FH) upgraded to Buy from Hold at Danske Bank

Telenor (TEL NO) upgraded to Buy from Hold at SEB

Wartsila (WRT1V FH) upgraded to Neutral from Underweight at JPMorgan

US

CLOSES: SPX +0.78% at 7,499, NDX +1.69% at 30,276, DJI +0.265 at 52,318, RUT +0.52% at 3,026.

SECTORS: Technology +2.55%, Industrials +1.35%, Materials +0.55%, Consumer Discretionary +0.07%, Communication Services U/C, Financials -0.16%, Energy -0.63%, Health -1.30%, Consumer Staples -1.48%, Utilities -1.49%, Real Estate -2.18%.

Apple (AAPL) - Apple CEO Tim Cook and EU tech chief Henna Virkkunen held constructive talks on Apple’s planned Siri AI launch in Europe, FT reports. Discussions covered how Apple could avoid fines under the Digital Markets Act, with Apple seeking assurances over a proposed “Trusted System Agent”, and EU officials resisting an interoperability delay. (FT)

Constellation Brands (STZ) - Shares rose 2.5% in extended trading after better-than-expected results, resilient beer sales and reaffirmed profit guidance outweighed a revenue decline linked to wine and spirits divestitures. Q1 comparable EPS 3.43 (exp. 3.23), Q1 revenue USD 2.43bln (exp. 2.40bln). Beer segment net sales rose 2% to USD 2.28bln, supported by demand for brands including Corona and Modelo Especial, and wine and spirits organic net sales rose 8%. Enterprise organic net sales grew, and share gained despite a discerning and value-conscious consumer environment. Sees FY27 comparable EPS between 11.20-11.90 (exp. 11.74), reaffirming its prior view; sees FY27 capex of USD 800mln, and FCF between USD 1.6-1.7bln.

Microsoft (MSFT) - Microsoft plans to announce fresh job cuts affecting thousands of roles, including sales, consulting and Xbox, Business Insider reports. The reductions are expected to be less than 2.5% of its 220K workforce, and smaller than last year’s layoffs, as the company controls costs while increasing AI spending. (Business Insider)

Nike (NKE) - Nike shares fell 3% in extended trading as cautious demand commentary, pressure on consumers worldwide and ongoing weakness in Greater China outweighed stronger-than-expected results. It reported Q4 EPS 0.72 (exp. 0.13), including a 0.52 benefit related to the expected recovery of IEEPA tariffs; Q4 revenue USD 11.0bln (exp. 10.85bln). Nike Brand revenue was flat at USD 10.7bln, and -3% cFX; wholesale revenue +4% to USD 6.6bln; Nike Direct revenue -7% to USD 4.1bln; Converse revenue -32% to USD 244mln. Greater China revenue -17% in cFX, North America revenue +3%. CEO Elliott Hill said Nike is not living up to its full potential and progress remains uneven, with the turnaround still facing weak sportswear demand, challenged Jordan streetwear sell-through, elevated inventory clean-up and pressure on global consumers. CFO Matthew Friend said the operating environment became more challenging through Q4 and is not expected to improve over the next six months. Nike sees Q1 revenue down low to mid-single digits, Q1 gross margin slightly positive, Q1 SG&A dollars flat and FY26 tax rate in the low 20% range, assuming incremental tariff rates of 10% through 31st July 2026 and 15% thereafter.