Newsquawk Daily European Equity Opening News - 27th January 2026

ASIA

APAC stocks were mostly higher following on from the rebound on Wall Street, but with some of the gains capped ahead of key events and big tech earnings stateside, while participants also digested Trump's latest tariff salvo against South Korea. ASX 200 rallied on return from the long weekend, with risk appetite also facilitated by M&A-related headlines and improved business sentiment. Nikkei 225 gained despite the initial indecision following recent currency moves and after Services PPI cooled but remained above the BoJ's price target. KOSPI sold off at the open following US President Trump's announcement to raise tariffs on South Korean autos, lumber, pharma, and all other reciprocal tariffs to 25% from 15% due to its legislature not yet enacting the US-Korea trade deal. However, the index then clawed back its losses and more, with the TACO trade likely in play and with South Korean officials attempting to appease Trump. Hang Seng and Shanghai Comp traded somewhat mixed with firm gains in Hong Kong led by Zijin Mining, which is to buy Canada's Allied Gold for USD 4bln, while the mainland index lagged despite an acceleration in Chinese Industrial Profits and the PBoC's liquidity efforts.

China - China is to roll out policy document on boosting jobs amid AI impact, according to Xinhua. China will roll out policies to support employment amid AI shift and will boost support for employment among key groups.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +0.12% at 5,955, Dax 40 +0.20% at 24,950, FTSE 100 +0.05% at 10,149, CAC 40 -0.15% at 8,131, FTSE MIB +0.26% at 44,950, IBEX 35 +0.78% at 17,681, PSI +0.23% at 8,577, SMI +0.04% at 13,132, AEX -0.14% at 999

SECTORS: Utilities 1.24%, Materials 0.84%, Financials 0.49%, Healthcare 0.43%, IT 0.29%, Energy 0.16%, Telecoms 0.01%, Consumer Stpl -0.28%, Industrials -0.40%, Consumer Disc -0.50%

FTSE 100

Housing Names - UK Government is to announce a cap on ground rent paid by leaseholders, likely to be around GBP 250/yr. (BBC)

UK BRC - UK BRC Shop Price Inflation (Jan) 1.5% vs. Exp. 0.7% (Prev. 0.6%, Rev. From 0.7%); Chief Executive of the BRC said "It is a challenging time for households. Retailers do what they can to keep prices down in a competitive market, but thin margins and rising costs of Government policy make it harder". (BRC)

OTHER UK COMPANIES

BROKER MOVES

DAX

OTHER GERMAN COMPANIES

GEA (G1A GY) - FY (EUR): Revenue 5.5bln (exp. 5.3bln), Adj. EBITDA 907mln (exp. 899.6mln), Order Intake 5.9bln, +9.1% (prev. +4.6% Y/Y). Guidance: For the current fiscal year 2026, GEA expects organic sales growth of more than 5 percent and further margin improvements. (GEA)

Puma (PUM GY) - ANTA Sports to acquire a 29% stake in Puma. Says the deal brings proven growth track record to help unlock Puma’s potential globally including in China. Has no current plans to make a takeover offer for Puma. The transaction is expected to close by the end of 2026, subject to relevant regulatory approvals and customary closing conditions. The equity acquisition will be entirely financed with ANTA Sports’ internal cash resources. (ANTA) Puma shares +19% in pre-market trade

BROKER MOVES

Siemens (SIE GY) downgraded to Reduce from Hold by Kepler Cheuvreux Shares -0.8% in pre-market trade

CAC

Airbus (AIR FP) - Airbus helicopters say it won 544 gross orders and 536 net orders in 2025, delivered 392 units. (Newswires)

OTHER FRENCH COMPANIES

BROKER MOVES

PAN EUROPE

Adyen (ADYEN NA) - Adyen and Raptor team up to simplify operations for Singapore’s service sector. (Adyen)

BROKER MOVES

SMI

Holcim (HOLN SW) - Co. invests in Capsol to scale its advanced carbon capture technology. (Holcim)

Roche (ROG SW) - Genentech positive topline results from CT388-103, a Phase II clinical trial of CT-388, an investigational dual GLP-1/GIP receptor agonist being developed for the treatment of obesity. A once-weekly subcutaneous injection of CT-388 achieved a statistically significant placebo-adjusted weight loss of 22.5% (p < 0.001) at 48 weeks at the highest dose tested (24 mg), without reaching a weight loss plateau. 54% of participants on the 24 mg dose achieved resolution of obesity (BMI "<" 30 kg/m2) vs. 13% in the placebo group. The Phase III clinical trial program of CT-388 in obesity (Enith1 and Enith2) is expected to start this quarter. (Roche) Snap analysis: Appears to be competitive with Novo Nordisk's (NOVOB DC) semaglutide, which achieved clinical weight loss of around 15-17%; Eli Lilly's (LLY) retatrutide achieved clinical weight loss of approx. 24-29%, but still requires a Phase 3 update. Shares +1.1% in pre-market trade

OTHER SWISS COMPANIES

Siegfried (SFZN SW) - Co. signed binding agreements with an affiliate of SK Capital Partners to acquire the drug substance business of the Noramco Group and Extractas Bioscience. (Siegfried)

BROKER MOVES

SCANDINAVIA

BROKER MOVES

Aker BP (AKERBP NO) downgraded to Sell from Hold by Danske Bank

US

CLOSES: SPX +0.50% at 6,950, NDX +0.42% at 25,713, DJI +0.64% at 49,412, RUT -0.36% at 2,659.

SECTORS: Consumer Discretionary -0.71%, Consumer Staples -0.05%, Real Estate -0.02%, Energy +0.04%, Industrials +0.10%, Materials +0.29%, Health +0.41%, Financials +0.65%, Utilities +0.78%, Technology +0.84%, Communication Services +1.32%.

Micron Technology (MU) - Micron plans to build a USD 24bln memory chip plant in Singapore over the next decade to boost NAND output amid a global shortage, Reuters reports. Wafer production is set for H2 2028. Micron already makes 98% of its flash chips in Singapore, and is building a USD 7bln HBM packaging plant. (Reuters)

Nike (NKE) - Co. is said to consider cutting 775 employees seeking to automate distribution centres, CNBC reports. (CNBC)

Steel Dynamics (STLD) - Steel Dynamics shares were choppy but ended the extended US trading session flat after better-than-expected earnings, and management expressing optimism for the year ahead. It reported Q4 adj. EPS of 1.82 (exp. 1.69), Q4 revenue of USD 4.4bln (exp. 4.53bln). FY net sales USD 18.2bln with operating income USD 1.5bln and adj. EBITDA USD 2.2bln; operating cash flow USD 1.4bln in FY after USD 450mln growth working-capital investment tied to the aluminium platform. CEO said steel pricing has improved, customer optimism remains solid and domestic demand for steel and aluminium is steady, with increasing emphasis on lower-carbon, domestically produced products. CEO highlighted progress at the Columbus, Mississippi aluminium flat-rolled mills, and the San Luis Potosi recycled aluminium slab centre. The company sees improving trade stability, a more favourable interest-rate backdrop and expanding US manufacturing supporting a favourable market environment and long-term value creation through disciplined execution and strong cash generation.

SK Hynix (HXSCL), Microsoft (MSFT) - SK Hynix has become the exclusive supplier of fifth-generation HBM3E memory for Microsoft’s Maia 200 AI accelerator used in its data centres. (Newswires)

Warner Bros. Discovery (WBD), Netflix (NFLX), Paramount Skydance (PSKY) - More than a dozen UK lawmakers urged the CMA to conduct a full review of Netflix’s USD 82.7bln bid for Warner Bros Discovery, warning it could entrench dominance in streaming, FT reports. The call comes as the watchdog faces pressure to be more business-friendly while Paramount pursues a rival bid. (FT)