Newsquawk Daily European Equity Opening News - 23rd September 2026

APAC stocks were ultimately mixed following the similar handover from the US, despite the recent decline in oil prices and optimism regarding diplomacy after US President Trump announced that envoys had a 'very productive' meeting with the Iranian delegation on the sidelines of the UN General Assembly. However, he also threatened that they may have to blow up Pickaxe Mountain and will attack if they see activity, as well as commented that he has a big decision to make between allowing Iran to rebuild or to "annihilate" Iran. ASX 200 was rangebound with demand contained amid rate hike expectations and following weaker Flash PMI data from Australia, in which headline Manufacturing PMI slipped into contraction territory. KOSPI gained after the tech-related momentum in the US, where the NDX printed an all-time high. Hang Seng and Shanghai Comp were subdued following today's PBoC liquidity drain and as reports that Chinese President Xi is unlikely to bring Chinese CEOs to his summit with US President Trump temper expectations for major business deals.

CLOSES: Euro Stoxx 50 +0.08% at 6,323, Dax 40 +0.10% at 25,600, FTSE 100 -0.29% at 10,708, CAC 40 +0.20% at 8,155, FTSE MIB -0.53% at 52,096, IBEX 35 +0.15% at 19,754, PSI +0.41% at 9,657, SMI -0.02% at 13,953, AEX +0.78% at 1,111.

Airtel Africa (AAF LN) - Co.'s Airtel Money is reportedly aiming for a valuation of between USD 8-9bln ahead of its IPO, the FT reports. (FT)

Diageo (DGE LN) - Co. is reportedly expected to name WPP (WPP LN) CFO Wilson as its new CFO, Sky News reports. (Sky News)

Glencore (GLEN LN) - Co. signs a USD 1bln offtake agreement with Nth Cycle, with the latter to supply Glencore with lithium and other critical minerals extracted from recycled batteries. (Reuters)

Shell (SHEL LN), Talos Energy (TALO) - Shell completed the sale of its 50% non-operated interest in the Na Kika platform and associated fields, plus its 100%-owned Coulomb tieback, to Talos Energy and Ridgewood Energy. Shell received about USD 840mln in cash proceeds. (Shell)

UK Investment - Global banking executives say they would no longer choose the UK as the main European hub if taxes are raised on the banking survey, the FT reports citing a survey. (FT)

OTHER UK COMPANIES

WWP (WWP LN) - Co. opens a new, flagship production facility in East London. The facility will be operated by WPP Production, its global production operating unit. (WPP)

BROKER MOVES

BP (BP/ LN) upgraded to Overweight from Neutral at JPMorgan

Cranswick (CWK LN) upgraded to Buy from Hold at Berenberg

OTHER GERMAN COMPANIES

Puma (PUM GY), Interparfums (IPER) - Interparfums entered an exclusive worldwide licence agreement with Puma to create, develop, produce and distribute fragrances under the Puma brand. The agreement runs through December 2037. Interparfums plans to launch a signature lifestyle fragrance in 2027. (Globe Newswire)

BROKER MOVES

OTHER FRENCH COMPANIES

BROKER MOVES

Valeo (FR FP) upgraded to Buy from Hold at Jefferies, highlighting the Co.'s good position to manage further China weakness.

Adyen (ADYEN NA) - Co. names Niclas Neglen as its new CFO, effective February 1st 2027. Confirms that there are no changes to standing financial objectives. (Adyen)

Arcadis (ARCAD NA) - Co. notes that WSP Global has decided not to proceed with a public offer for all issued and outstanding shares of Arcadis. Arcadis unanimously rejected two proposals by WSP and highlighted that it would raise concerns regarding execution of strategic plans, cultural fit, and integration risks, with adverse consequences for Arcadis' shareholders, employees, clients, and other stakeholders. (Arcadis)

Exor (EXO NA) - H1 2026 (EUR): Pretax Profit -1.11bln (prev. -0.61bln Y/Y), Net Profit -1.12bln (prev. -0.62bln Y/Y), NAV 32bln (prev. 33.24bln H/H). Announces a share buyback programme of up to EUR 500mln. (Exor)

Iberdrola (IBE SM) - Co. is reportedly planning to launch the sale of up to 49% of East Anglia Two, valued at c. EUR 5bln, Expansion reports. (Expansion)

Raiffeisen Bank (RBI AV) - Co. says they have obtained a default judgement against Rasperia in Austria, with the court ordering Rasperia to pay damages of approx. EUR 3.15bln. (Raiffeisen Bank)

BROKER MOVES

Roche (ROP SW) - Co. announces that its ongoing phase III IMAgINATION study evaluating sefaxersen in adults with primary IgA nephropathy met its primary endpoint, showing statistically significant and clinically meaningful improvements in proteinuria reduction. Elsewhere, the Co. announces that Dr. Christophe Weber has been elected to the Board of Directors. (Roche)

OTHER SWISS COMPANIES

Avolta (AVOL SW) - Co. announces a partnership with Hawaii’s Department of Transportation to expand airport dining at three airports. (Avolta)

BROKER MOVES

Novo Nordisk (NOVOB DC) - Co. CEO tells the FT that they are open to the idea of upgrading its US listing to a direct listing on the NYSE instead of its ADR, saying that "I clearly do see some advantages with that". (FT)

BROKER MOVES

CLOSES: SPX +0.00% at 7,765, NDX +0.82% at 30,732, DJI -0.36% at 51,869, RUT +0.51% at 2,890

SECTORS: Financials -1.98%, Energy -1.01%, Communication services -1.01%, Utilities -0.29%, Consumer discretionary flat, Real estate flat, Industrials +0.19%, Health +0.54%, Technology +0.63%, Consumer staples +1.2%, Materials +1.9%.