Newsquawk Daily European Equity Opening News - 2nd June 2026

ASIA

APAC stocks were mixed following the choppy performance stateside, where the major indices ultimately finished mostly higher amid tech strength and mixed geopolitical updates. ASX 200 was subdued amid weakness in real estate, financials and defensives, while sentiment was also not helped by a slew of mostly weaker-than-expected data releases. Nikkei 225 slipped after printing a new all-time high at the open with very few fresh catalysts from Japan, and as the recent mixed geopolitical headlines provide an opportunity to book profits. Hang Seng and Shanghai Comp conformed to the mixed picture with the mainland flat, while the Hong Kong benchmark was led higher by strength in the big tech names, with Meituan underpinned post-earnings, while Tencent, Alibaba, Lenovo, Kuaishou, SMIC and JD were all among the top performers.

Tencent Holdings (0700 HK) - Tencent is testing a prototype AI agent for WeChat and aims to begin the compliance process required for a public launch as soon as this month, FT reports. The agent would allow users to complete tasks across WeChat's millions of mini-apps by swiping right on the main screen. Challenges remain around computing power following US Nvidia (NVDA) export restrictions, with early internal estimates suggesting a full rollout would be very costly.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.23% at 6,036, DAX -0.44% at 24,994, FTSE 100 -0.68% at 10,339, CAC 40 -0.45% at 8,147, AEX +0.11% at 1,036, IBEX 35 -0.97% at 18,185, FTSE MIB -0.52% at 49,775, SMI -1.75% at 13,305, PSI -1.27% at 8,961.

SECTORS: Energy 2.59%, IT 2.18%, Materials 0.15%, Telecoms -0.06%, Utilities -0.49%, Financials -0.85%, Consumer Disc -0.99%, Consumer Stpl -1.10%, Industrials -1.52%, Healthcare -2.51%

FTSE 100

AstraZeneca (AZN LN) - Co. announces that camizestrant is advancing globally, receiving a positive CHMP recommendation in Europe. Co. is also in discussions with the US FDA, and management expects investor focus and questions on timing and the path forward. (Newswires)

BP (BP/ LN) - Interim Chair Ian Tyler said that senior independent director Amanda Blanc will lead the search for the next chair of the company. (Reuters)

OTHER UK COMPANIES

Hikma (HIK LN) - Co. announces it will invest USD 267mln to expand Ohio manufacturing operations, creating 350 jobs. (Hikma)

BROKER MOVES

DAX

Siemens Energy (ENR GY) - Co. acquires Camlin Group, which is expected to close before end-2026; no terms. (Siemens Energy)

OTHER GERMAN COMPANIES

BROKER MOVES

CAC

Sanofi (SAN FP) - Co. announces that "Cocoa" is materially accelerating implementation, with migrations able to be done in days and pipelines to be built autonomously. (Newswires)

OTHER FRENCH COMPANIES

Abivax (ABVX FP) - Co. announced positive topline results from the Phase 3 ABTECT maintenance trial, in which both the 25 mg and 50 mg once-daily obefazimod doses met the primary endpoint at Week 44, demonstrating placebo-adjusted clinical remission rates of 39.3% and 40.3%, respectively. Press release revealed safety concerns, including a cluster of non-melanoma skin cancers and other malignancies specifically within the 50 mg obefazimod treatment group. (Abivax)

Nexans (NEX FP) - Co. completes acquisition of Republic Wire in the US. (Nexans)

BROKER MOVES

PAN EUROPE

Arcadis (ARCAD NA) - Co. awarded a contract valued at over EUR 90mln to provide design and programme management services to the TWA JV. (Arcadis)

Energy - EU is weighing fiscal flexibility for energy costs, while the proposal would allow countries budget leeway to cushion energy costs, according to Bloomberg. (Bloomberg)

Miners - The US White House releases a Fact Sheet stating President Trump signed a Proclamation adjusting certain metals tariffs to more effectively address national security threats and spur investment. Agricultural equipment and other equipment will be cut to 15% from 25%. (US White House)

Stellantis (STLAM IM/STLAP FP) - Co. reported +11% Y/Y sales in Italy, during May. (Reuters)

UCB (UCB BB) - Completes the acquisition of Neurona Therapeutics, advancing its leadership as an innovator in epilepsy through regenerative science; deal valued at USD 1.15bln. (UCB)

BROKER MOVES

Ahold Delhaize (AD NA) downgraded to Neutral from Buy at Goldman Sachs

Voestalpine (VOE AV) downgraded to Equal Weight from Overweight at Morgan Stanley

SMI

Roche (ROP SW) - US FDA accepts New Drug Application for Roche’s giredestrant in ER-positive early-stage breast cancer, the first and only oral SERD with positive phase III results in the curative setting. (Roche)

OTHER SWISS COMPANIES

Avolta (AVOL SW) - Bookrunner says that secondary ABB orders below CHF 45.35/shr risk missing. (Avolta)

Barry Callebaut (BARN SW) - Co. expects its recurring Operating Profit to grow by mid- to high-single digit percentage in local currencies over the medium term. Co. confirmed its 2025/26 guidance. (Barry Callebaut)

Clariant (CLN SW) - Co. trades without entitlement to its latest dividend today. (Clariant)

BROKER MOVES

SCANDINAVIA

Skanska (SKAB SS) - Co. invests SEK 360mln in a project in Poland. (Skanska)

Sweco (SWECB SS) - Co. acquires Platom, a Finnish nuclear consultancy company. (Sweco)

BROKER MOVES

US

CLOSES: SPX +0.26% at 7,600, NDX +0.60% at 30,514, DJI +0.09% at 51,084, RUT -0.47% at 2,906.

SECTORS: Technology +2.48%, Energy +1.86%, Financials -0.29%, Industrials -0.45%, Materials -0.58%, Health -1.17%, Consumer Staples -1.29%, Communication Services -1.59%, Real Estate -1.73%, Consumer Discretionary -2.62%, Utilities -3.05%

Alphabet (GOOG) - Alphabet plans to raise USD 80bln through equity offerings to fund AI infrastructure, Reuters reports. Berkshire Hathaway (BRK.B) will invest USD 10bln via private placement, while Alphabet plans USD 30bln of public offerings and a USD 40bln at-the-market programme. Alphabet said AI demand is exceeding available supply. Its debt levels currently exceed USD 100bln. (Reuters)

Anthropic - Anthropic has confidentially submitted draft IPO paperwork to the SEC, potentially beating rival OpenAI to a Wall Street debut as soon as this Autumn, according to Bloomberg. The filing comes after Anthropic raised USD 65bln last week at a USD 965bln valuation. The company expects Q2 revenue of USD 10.9bln, more than doubling Q/Q, and has told investors its annualised run rate will surpass USD 50bln by end of June. Goldman Sachs (GS), JPMorgan (JPM) and Morgan Stanley (MS) are under consideration for key roles on the listing, Bloomberg said. (Bloomberg)

Hewlett Packard Enterprises (HPE) - Shares rose 28% in extended US trading after the company beat expectations, lifted its profit outlook and highlighted strong server demand tied to AI infrastructure growth. Q2 adj. EPS 0.79 (exp. 0.54), Q2 revenue USD 10.7bln (exp. 9.82bln). The company said it delivered record-breaking revenue, HIGHER-than-anticipated profitability and increased free cash flow, reflecting strong execution and healthy demand as customers modernise infrastructure and scale AI, with CEO highlighting the strength of the combined networking portfolio. CFO said profitability and cash generation were helped by operational discipline and faster-than-planned Juniper Networks and Catalyst cost synergies. HPE also named Elliott Management partner Chris Hsu to its board, effective immediately, where he will join the Strategy Committee and Finance & Investment Committee. HPE sees Q3 adj. EPS between 0.88-0.93 (exp. 0.58), sees Q3 revenue between USD 11.5-12.1bln (exp. 10.9bln). Raised FY26 guidance, sees adj. EPS between 3.35-3.45 (exp. 2.42; prev. saw 2.30-2.50) and revenue growth between 29-33% Y/Y (exp. 40.84bln; prev. saw 17-22%). (Hewlett Packard Enterprises)

Microchip (MCHP) - Microchip said its Data Centre Solutions business unit generated USD 302.7mln revenue in 2025 and is expected to grow about 65% to roughly USD 500mln in calendar 2026. March-quarter revenue +62.9% Y/Y. Microchip plans selective price increases, with no impact on guidance for the quarter ending June 2026. (Microchip)