Newsquawk Daily European Equity Opening News - 28th May 2026

ASIA

APAC stocks were pressured amid a flare-up of geopolitical tensions in the Middle East after the US conducted another defensive operation in which it attacked a launch site and shot down drones after they posed a threat to US forces and commercial maritime in the Strait of Hormuz, while the IRGC said it responded by attacking the US base where the US aggression originated from. ASX 200 retreated amid the geopolitical escalation and with sentiment not helped by mixed data in which capex topped estimates, but household spending disappointed. Nikkei 225 was initially choppy but ultimately retreated amid the rebound in oil prices and increased geopolitical tensions between the US and Iran. Hang Seng and Shanghai Comp were negative but to varying degrees, with the Hong Kong benchmark underperforming following recent earnings and mixed tech fortunes.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +0.08% at 6,067, Dax 40 +0.13% at 25,218, FTSE 100 +0.13% at 10,505, CAC 40 +0.43% at 8,208, FTSE MIB -0.64% at 49,579, IBEX 35 +0.49% at 18,381, PSI -0.65% at 9,136, SMI +0.57% at 13,602, AEX -0.21% at 1,040

SECTORS: Consumer Disc 2.57%, Consumer Stpl 1.77%, Materials 0.64%, Healthcare 0.47%, Telecoms 0.20%, Financials 0.04%, Industrials -0.04%, IT -1.30%, Utilities -1.83%, Energy -2.94%

FTSE 100

BT (BT/ LN) - UK would block India billionaire Sunil Bharti Mittal to increase stake in BT, according to FT. A UK official stated that “it’s not to do with Bharti or India specifically, it’s a matter of keeping critical national infrastructure in sovereign UK control for obvious reasons". (FT)

OTHER UK COMPANIES

BROKER MOVES

Aviva (AV/ LN) initiated with Buy at Berenberg

Hiscox (HSX LN) downgraded to Add from Buy at Peel Hunt

DAX

Delivery Hero (DHER GY) - Uber (UBER) has increased its stake in Delivery Hero to approx. 36.8% (prev. 25.1%). (FT)

OTHER GERMAN COMPANIES

Deutz (DEZ GY) - Co. acquires Brazilian generator manufacturer Maxi Trust Power Ltda. The total purchase price to be paid is in the mid-double-digit million-euro range. Debt financing is planned for the takeover. The transaction is expected to close during the second quarter of 2026. (Deutz)

BROKER MOVES

CAC

Sanofi (SAN FP) - Co's venglustat accepted for priority review in the US to treat type 3 Gaucher disease. The target action date for the FDA decision is November 25, 2026. (Sanofi)

OTHER FRENCH COMPANIES

GTT (GTT FP) - Receives an order from HD KSOE for the tank design of two new LNG carriers. (GTT)

Ipsen (IPN FP) - New late-breaking data reinforces IQIRVO’s impact on ALP, fatigue and pruritus in PBC. (Ipsen)

Sopra Steria (SOP FP) - Co. proposed the acquisition of Digital Product Simulation; subject to customary approvals, and is expected to be completed within the new few months. (Sopra Steria)

BROKER MOVES

L'Oreal (OR FP) upgraded to Buy from Hold at Berenberg

PAN EUROPE

Adyen (ADYEN NA) - Adyen CFO Ethan Tandowsky to step down, effective 31 August 2026. The Adyen Supervisory Board will initiate a comprehensive search process to identify his successor. (Adyen)

EU-China Trade - EU is to broaden import quotas and tariffs against China, according to the bloc's industry commissioner, cited by FT. (FT)

Edison (EDNR IM) - EDF postpones plan to sell its stake in its Italian subsidiary Edison to 2027, according to reports, citing sources. (Reuters)

German Defence - KNDS has vowed that it will protect itself from any political interference, as the Co. looks set for an IPO. (FT)

PKN Orlen (PKN PW) - Q1 2026 (PLN) - Revenue 75.8bln (prev. 73.5bln Y/Y), Net Income 8.08bln (prev. 4.28bln Y/Y). (PKN Orlen)

Recordati (REC IM) - Recordati’s board has approved the early vesting of 792,899 rights under its Performance Share Plan 2023–2025 after Respighi BidCo launched a full tender offer aimed at acquiring and delisting the company. (Recordati)

BROKER MOVES

SMI

OTHER SWISS COMPANIES

Avolta (AVOL SW) - Co. has been awarded a 12-year contract in Latvia; no terms. (Avolta)

BROKER MOVES

SCANDINAVIA

BROKER MOVES

Boliden (BOL SS) upgraded to Overweight from Equal-Weight at Barclays

US

CLOSES: SPX +0.02% at 7,520, NDX -0.09% at 29,974, DJI +0.36% at 50,649, RUT -0.02% at 2,920

SECTORS: Energy -1.52%, Financials -0.82%, Utilities -0.48%, Technology -0.39%, Real Estate -0.31%, Materials -0.01%, Industrials +0.02%, Health +0.22%, Communication Services +0.72%, Consumer Staples +0.97%, Consumer Discretionary +1.89%.

HP Inc. (HPQ) - Q2 2026 (USD): Adj. EPS 0.86 (exp. 0.71), Revenue 14.4bln (exp. 13.99bln). Outlook FY adj. EPS 2.90-3.10 (exp. 2.87, prev. 3.20-3.40). Q3 adj. EPS 0.61-0.71 (exp. 0.64). (HP)

Marvell Technology Inc. (MRVL) - Q1 2026 (USD): Adj. EPS 0.80 (exp. 0.79), Revenue 2.42bln (exp. 2.40bln) Outlook Q2 adj. EPS 0.93 (exp. 0.90). Q2 revenue 2.7bln (exp. 2.6bln). (Marvell)

Snowflake Inc. (SNOW) - Q1 2027 (USD) EPS -0.86 (exp. -0.82), Revenue 1.39bln (exp. 1.32bln), Co. announces intent to acquire Natoma, providing secure connectivity for the agentic enterprise. (Snowflake)