Newsquawk Daily European Equity Opening News - 24th September 2026

ASIA

APAC stocks were mostly pressured following on from the declines in global peers alongside the recent bond turmoil and jump in yields, owing to several factors including strong US data, hawkish Fed rhetoric and mixed reports regarding a US diesel export ban. ASX 200 retreated with the declines led by weakness in miners, real estate and materials, while sentiment was not helped by mixed jobs data including an unexpected rise in the Unemployment Rate to a five-year high. Nikkei 225 outperformed after Japanese participants returned from the long weekend and with tech names playing catch-up to the recent AI-related momentum. Hang Seng and Shanghai Comp retreated despite early optimism from President Xi's state visit to the US, while a two-month extension to the US-China trade truce until January 10th also failed to spur risk appetite.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.38% at 6,301, Dax 40 -0.59% at 25,427, FTSE 100 -0.03% at 10,705, CAC 40 -0.39% at 8,123, FTSE MIB -0.21% at 51,987, IBEX 35 -0.62% at 19,632, PSI -0.25% at 9,632, SMI -0.23% at 13,922, AEX -0.27% at 1,108

FTSE 100

Experian (EXPN LN) - Co. announces a strategic collaboration with Google (GOOGL), making it the first personal finance app integrated with Google Gemini. (Experian)

Rio Tinto (RIO LN) - Co. is reportedly planning to expand its marketing operations to trade more metals from other producers as well as derivatives, Bloomberg reports. The report added that the Co. is not aiming to replicate the sector's trading giants but wants to see a step change in the current business. (Bloomberg)

Shell (SHEL LN) - The shareholders of LNG Canada Development, which include Shell, are reportedly set to announce a final investment decision to proceed with plans to increase its max output to 28mln tonnes/yr, Bloomberg reports. (Bloomberg)

UK Budget - The UK Treasury is reportedly actively debating whether to set a lower buffer than the OBR's forecast to reduce tax rises, the FT reports. (FT)

OTHER UK COMPANIES

BROKER MOVES

Segro (SGRO LN) downgraded to Market Perform from Outperform at Societe Generale

Smiths Group (SMIN LN) downgraded to Neutral from Buy at Citi

DAX

Mercedes-Benz (MBG GY) - The Co. plans to save up to EUR 800mln in labour costs, WirtschaftsWoche reports. The report added that outside of increased working hours, possible measures include reducing or eliminating vacation and Christmas bonuses, or foregoing special payments. (WirtschaftsWoche)

Siemens Energy (ENR GY) - Co. approves the share buyback of up to EUR 2bln, to begin on September 24th. (Siemens Energy)

OTHER GERMAN COMPANIES

BROKER MOVES

BMW (BMW GY) downgraded to Hold from Buy at HSBC

MTU Aero Engines (MTX GY) upgraded to Buy from Sell at Citi

CAC

EssilorLuxottica (EL FP) - Co. unveils the next-gen of AI glasses with Meta (META), announcing a new line of audio glasses, a third generation of Ray-Ban Meta, as well as new models, features and geographies for existing products. (EssilorLuxottica)

LVMH (MC FP), Christian Dior (CDI FP) - Christian Dior announces that the Arnault family plans to simplify the structure of the companies that hold LVMH. Under the plan, LVMH will be controlled under one entity, Agache SCA, after Christian Dior is delisted. The new entity would control 49.76% of LVMH, 65.55% of voting rights, almost the whole of the family's stake. (Christian Dior)

Sanofi (SAN FP) - NICE recommends Sarclisa (isatuximab) with pomalidomide and dexamethasone for treating relapsed and refractory multiple myeloma in adults. (NICE)

Schneider Electric (SU FP) - Co. agrees to acquire Shelly Group (SLYG GY) for EUR 70/shr. (EQS) Shelly Group shares are indicated higher by 7.2% on Tradegate

OTHER FRENCH COMPANIES

Dassault Aviation (AM FP) - Co. signs a cooperation agreement with AED Cluster Portugal to explore potential areas of cooperation between RAFALE partners and the Portuguese industrial sector. (Dassault Aviation)

BROKER MOVES

Covivio (COV FP) upgraded to Outperform from Market Perform at Societe Generale

PAN EUROPE

BMPS (BMPS IM) - Co. CEO, at a BofA conference, says investors should back the defence strategy against a takeover bid by Intesa, even if they intend to tender their shares under the offer. (Newswires)

EU Autos - EU Total car registrations 832,637 vehicles, +5.3% YTD. Battery-electric, plug-in hybrid and hybrid car registrations accounted for over 73% of all new vehicles. Petrol and diesel car registrations fell 23.5% and 23.1%, respectively. ACEA says that the demand for electrified cars continued to underpin growth in Europe's autos market in August. YTD New Car Registrations by Manufacturer: Volkswagen -3.6%, Renault -4.4%, Stellantis +3.5%, Mercedes-Benz +7.6%, BMW -0.3%. (ACEA)

PKN Orlen (PKN PW) - Co. says its Management and Supervisory Boards approved a squeeze-out of all remaining Energa minority shareholders at PLN 27.60/shr. The squeeze-out will be formally announced on 30th September. In other news, the CEO said that only a few obstacles remain before a deal can be reached with billionaire Solowow over a joint nuclear reactor venture. (Orlen/Bloomberg)

Stellantis (STLAM IM/STLAP FP) - Co. spokesperson says the Co. has paused white-collar hiring in Auburn hills. (Detroit News)

BROKER MOVES

SMI

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

YIT (YIT FH) - Co. raises its group revenue growth target to "at least" 10% CAGR by the end of 2029 (prev. 5%). (YIT)

BROKER MOVES

Hiab (HIAB FH) downgraded to Hold from Buy at SEB

Tryg (TRYG DC) downgraded to Hold from Buy at Danske Bank

US

CLOSES: SPX -0.75% at 7,706, NDX -0.85% at 30,470, DJI -0.68% at 51,517, RUT -1.77% at 2,839

SECTORS: Communication services -1.89%, Utilities -1.88%, Consumer discretionary -1.63%, Real estate -1.48%, Technology -0.66%, Health -0.65%, Materials -0.65%, Financials -0.44%, Consumer staples -0.17%, Industrials -0.11%, Energy +1.04%.

Tobacco Products - The Trump administration plans to revise FDA rules to speed authorisations for newer tobacco products including flavoured vapes and nicotine pouches, WSJ reports. Changes could simplify scientific study requirements, and shorten reviews. Tobacco companies support greater flexibility, while public health groups argue flavoured products can attract younger users.

US-China, Lockheed Martin (LMT) - Chinese authorities reportedly have F-35 components (LMT) after a UPS (UPS) shipment from Australia to the US was diverted to Hong Kong, according to CNBC. The cockpit canopy and weapons bay door were reportedly coated with radar-absorbing material.