Newsquawk Daily European Equity Opening News - 2nd April 2026

ASIA

APAC stocks failed to sustain initial gains after US President Trump's primetime address disappointed those hoping for an immediate de-escalation in the Iran conflict, in which he said they will hit Iran very hard over the next 2-3 weeks and will 'bring Iran back to the stone age, where they belong', while he also threatened to hit Iran's electric plants if there is no deal and could hit their oil. ASX 200 reversed early gains as Trump's remarks soured the broad risk sentiment, and with the declines led by weakness in the tech, mining, materials and resources industries, while the latest trade data from Australia had very little influence on price action. Nikkei 225 wiped out the initial spoils and slumped beneath the 53,000 level as US President Trump's remarks triggered a broad risk-off mood and lifted oil prices. Hang Seng and Shanghai Comp were subdued amid notable weakness in the Hong Kong-listed blue chip tech stocks, and with the mainland also dampened following another paltry liquidity operation by the PBoC.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +3.05% at 5,740, Dax 40 +3.01% at 23,314, FTSE 100 +1.84% at 10,364, CAC 40 +2.10% at 7,981, FTSE MIB +3.22% at 45,736, IBEX 35 +3.15% at 17,586, PSI +1.84% at 9,300, SMI +1.44% at 13,006, AEX +1.76% at 977

SECTORS: IT 4.58%, Industrials 4.26%, Financials 3.56%, Consumer Disc 2.84%, Utilities 1.92%, Materials 1.89%, Healthcare 1.79%, Consumer Stpl 0.52%, Telecoms 0.38%, Energy -4.15%

FTSE 100

BAE Systems (BA/ LN) - BAE received a USD 145.83mln US Army contract to produce 155mm M776 cannon tubes for the M777A2 155mm howitzer; the total cumulative face value is USD 462.8mln. (Newswires)

OTHER UK COMPANIES

BROKER MOVES

B&M European (BME LN) initiated with Buy at Kepler Cheuvreux

DAX

OTHER GERMAN COMPANIES

Nordex Group (NDX1 GY) - Co. expands wind farm in Germany by an additional 40 MW. (Nordex)

Lufthansa (LHA GY) - CEO says jet fuel supply shortages will likely be felt outside of Europe first. (Newswires)

BROKER MOVES

CAC

Accor (AC FP) - Co. signs a memorandum of understanding on the sale of its stake in Essendi. Will use proceeds to buyback up to EUR 500mln. Elsewhere, the Co. launches a EUR 225mln share buyback program (previously announced). (Accor)

Bureau Veritas (BVI FP) - Co. announces the launch of an AI systems audit to help European enterprises assess and demonstrate their compliance with the European Union's "AI Act" regulatory requirements. (Bureau Veritas)

Kering (KER FP) - Kering divests 80% stake in Milan Via Monte Napoleone property. Kering received proceeds of EUR 729mln at closing, while a remaining EUR 432mln will be paid to the Group five years later. (Kering)

Pernod Ricard (RI FP) - Pernod Ricard confirms the successful completion of the disposal of Mumm sparkling wine activities (excluding champagne) in the United States, covering Mumm Sparkling California, Mumm Napa and DVX to Trinchero Family Wine and Spirits. (Pernod Ricard)

TotalEnergies (TTE FP) - Co. to merge with MASDAR in 9 countries; JV capacity 3GW of operational assets. (Newswires)

OTHER FRENCH COMPANIES

BROKER MOVES

PAN EUROPE

Estee Lauder (EL), Puig (PUIG SM) - Estee Lauder and Puig are advancing talks to combine in a mostly stock deal that could be announced within weeks, Bloomberg said. The transaction would form one of the world’s largest luxury beauty companies. (Bloomberg)

Pharma stocks / Bayer (BAYN GY) - US President Trump's administration is readying to impose tariffs of 100% on certain medicines as it pushes pharmaceutical companies to manufacture more in the US, according to FT. (FT)

Stellantis (STLAM IM/STLAP FP) - Co. is in talks to produce Chinese EVs at an idled plant in Canada, according to Bloomberg. Stellantis is in early-stage talks with Zhejiang Leapmotor Technology Co. to potentially build electric vehicles in Canada, though talks are still at an early stage. (Bloomberg)

Steel Tariffs - President Trump is expected to overhaul US steel and aluminium tariffs by changing duties on finished products made with the metals, WSJ reports. Under a possible presidential proclamation, which could come as soon as this week, finished products made with imported steel and aluminium would face a 25% tariff. The changes are intended to simplify compliance though could raise costs for many imports, the report said. (WSJ)

BROKER MOVES

AkzoNobel (AKZA NA) downgraded to Neutral from Buy by Goldman Sachs

SMI

OTHER SWISS COMPANIES

BROKER MOVES

Nestle (NESN SW) downgraded to Equal Weight from Overweight at Morgan Stanley

SCANDINAVIA

Skanska (SKAB SS) - Divests its ownership of I-4 Ultimate in Florida, for approx. USD 75mln. (Newswires)

BROKER MOVES

Elisa (ELISA FH) downgraded to Hold from Buy at SEB

Fortum (FORTUM FH) upgraded to Neutral from Sell at Citi

US

CLOSES: SPX +0.72% at 6,575, NDX +1.18% at 24,020, DJI +0.48% at 46,566, RUT +0.64% at 2,512

SECTORS: Energy -3.89%, Consumer Staples -0.57%, Financials UNCH, Real Estate +0.36%, Utilities +0.45%, Health +0.80%, Consumer Discretionary +0.92%, Technology +1.14%, Materials +1.16%, Industrials +1.65%, Communication Services +1.65%.

Pfizer (PFE) - Pfizer’s RSV vaccine Abrysvo will be offered to about 3mln more people in England through the NHS; eligibility is being extended to all adults aged 80+ (prev. 75-79). The UK Health Security Agency said new evidence shows vaccination reduces the risk of hospitalisation by about 75%. (Pfizer)