Newsquawk Daily European Equity Opening News - 2nd October 2026

APAC stocks traded mixed following the ultimately choppy performance stateside as oil prices climbed, yields pulled back, and participants digested a slew of data, while all eyes turn to the looming NFP report. ASX 200 mildly gained, with the index led by strength in tech and energy, albeit with further upside capped amid a lack of fresh catalysts and with real estate and healthcare at the other end of the spectrum. Nikkei 225 retreated as participants digested the latest data releases, including a surprise uptick in the Unemployment Rate and the hotter-than-expected Tokyo CPI data, which was said to be driven by an unwinding of price suppression effects from targeted government subsidies. KOSPI traded indecisively following the somewhat mixed South Korean CPI data, in which the Y/Y reading slowed to 2.9% from 3.1%, as expected, but remained above the central bank's 2% target. Hang Seng underperformed on return from the holiday closure, with Stock Connect trade remaining shut owing to the week-long closure in the mainland, while pressure was seen in auto names following monthly sales updates and with casino stocks in the red after Macau casino revenue declined last month.

CLOSES: Euro Stoxx 50 -1.48% at 6,177, Dax 40 -0.87% at 24,981, FTSE 100 -1.68% at 10,428, CAC 40 -1.62% at 7,835, FTSE MIB -2.21% at 50,238, IBEX 35 -2.17% at 19,005, PSI -1.97% at 9,477, SMI -1.48% at 13,625, AEX -1.10% at 1,103

BAE Systems (BA/ LN) - Co. is reportedly considering a bid for Robin Radar in a possible EUR 2bln deal, Reuters reports. Other potential bidders include CVC (CVC NA), Blackstone (BX) and EQT (EQT SS), the report added. (Reuters)

BP (BP/ LN) - Co.'s Whiting Refinery says they met with USW 7-1's elected representatives, stating that the "meeting did not result in the progress we had hoped to make on key issues". (BP)

IG Group (IGG LN) - Co. has reportedly closed its Sydney office and cut staff in Melbourne and Singapore as it downsizes its international operations and shifts to prediction markets, AFR reports. (AFR)

OTHER UK COMPANIES

BROKER MOVES

Rio Tinto (RIO LN) upgraded to Outperform from Neutral at Macquarie

Adidas (ADS GY), Puma (PUM GY) - Nike shares fell 8.6% in extended US trading after revenue missed expectations, and the company forecast a FY sales decline, with weakness in Greater China, sportswear and the Jordan Brand, while restructuring plans and further layoffs added to concerns despite an earnings beat. Adidas and Puma shares are indicated lower by 1.8% and 3.3% respectively

KNDS - Warburg Pincus has reportedly held talks to acquire a substantial stake in the German defence Co. from Wegmann & Co., Bloomberg reports. The report added that the German government would buy a 40% stake in the tankmaker, but it is contingent on an IPO, and could still acquire a stake without an IPO. (Bloomberg)

OTHER GERMAN COMPANIES

BROKER MOVES

Commerzbank (CBK GY) downgraded to Sector Perform from Outperform at RBC

Airbus (AIR FP) - Co. has reportedly asked airlines to inspect some A330 jets for stray tools, Bloomberg reports. (Bloomberg)

Danone (BN FP) - Co. affirms its FY26 LFL sales growth between +3-5%. (Danone)

Vinci (DG FP) - Co. Co. signs a share purchase agreement, mandating the purchase of shares of up to EUR 270mln. (Vinci)

OTHER FRENCH COMPANIES

BROKER MOVES

Lufthansa (LHA GY), Air France-KLM (AF FP) - Cos have reportedly increased their offers for a minority stake in Portugal's TAP to over EUR 1bln, Bloomberg reports. (Bloomberg)

Stellantis (STLAM IM/STLAP FP) - Co. reports YTD sales of +3% Y/Y; Q3 sales of 324,277 units (prev. 324,825 units). Q3 sales by Brand (Y/Y): Jeep -20%, Ram +29%, Chrysler +6%, Dodge +2%, Fiat -83%, Alfa Romeo -65%. (Stellantis)

BROKER MOVES

Novartis (NOVN SW) - Abogen licenses ABO2203 for autoimmune diseases to Novartis. Under the agreement, Abogen will receive an upfront payment of USD 575mln and, if all options on all programs are exercised, Abogen is eligible to receive up to approximately USD 7.2bln in potential milestone payments. (PR Newswire)

Partners Group (PGSN SW) - Co. says it is turning its Global Value SICAV strategy into an umbrella fund with two sub-portfolios, enabling investors to align capital with their liquidity needs and return objectives without compromise. (Partners Group)

OTHER SWISS COMPANIES

Julius Baer (BAER SW) - Co. announces a CHF 600mln share buyback programme. (Julius Baer)

SGS SA (SGSN SW) - Co. acquires a majority stake in Prescient Security; no terms disclosed. (SGS)

BROKER MOVES

Skanska (SKAB SS) - Co. signs a contract with NAVFAC Mid-Atlantic to construct a new homeport pier at Naval Station Newport in Newport; worth about SEK 2.5bln. (Skanska)

BROKER MOVES

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

Mowi (MOWI NO) initiated with Neutral at Goldman Sachs

Salmar (SALM NO) initiated with Buy at Goldman Sachs

CLOSES: SPX +0.19% at 7,666, NDX +0.31% at 30,502, DJI +0.04% at 50,932, RUT +0.35% at 2,807

SECTORS: Health -1.3%, Communication services -1.19%, Real estate -0.62%, Materials -0.45%, Consumer staples -0.29%, Consumer discretionary -0.15%, Financials +0.16%, Utilities +0.61%, Technology +0.76%, Industrials +1%, Energy +1.92%.

Amazon (AMZN) - Amazon is reportedly looking to offload around USD 8bln of Nvidia's (NVDA) Grace Blackwell chips to external investors through a special-purpose vehicle to help strengthen its balance sheet, the FT reports. (FT)

Broadcom (AVGO), Anthropic - Broadcom’s Wall Street syndicate is assembling USD 60bln of financing to fund AI chips for Anthropic and other companies, Bloomberg reports. Banks are preparing a USD 42bln senior-secured tranche, while Blackstone (BX) is leading an USD 18bln junior-debt tranche, and committing USD 9bln from its funds. (Bloomberg)

Nasdaq-100 (NDX) - Moderna (MRNA) will join the Nasdaq-100 Index before market open on 9th October 2026, replacing Warner Bros. Discovery (WBD).

Nike (NKE) - Nike shares fell 8.6% in extended US trading after revenue missed expectations, and the company forecast a FY sales decline, with weakness in Greater China, sportswear and the Jordan Brand, while restructuring plans and further layoffs added to concerns despite an earnings beat. Q1 EPS 0.48 (exp. 0.44), Q1 revenue USD 11.2bln (exp. 11.3bln). Gross profit USD 4.8bln (exp. 4.8bln), gross margin improved to 42.8% (from 42.2% Y/Y). Nike Brand revenue was USD 10.95bln (exp. 11.09bln), Nike Direct revenue -8% Y/Y to USD 4.1bln, Greater China revenue -26% Y/Y and Greater China EBIT was USD 248mln (exp. 312.2mln). Inventory -3% Y/Y to USD 7.8bln (exp. 7.96bln). CEO said the Sport Offense continued to drive growth in performance products, while the company is taking actions to reposition Nike Sportswear, Jordan Brand and Greater China. Nike launched Pace, targeting approximately USD 2.5bln of cumulative savings through FY31, with around USD 1.0bln of associated pre-tax charges. Sees FY27 adj. EPS between 1.15-1.35 (exp. 1.67), and revenue declining by high single digits; FY27 EPS guidance excludes approximately 0.15/shr of Pace restructuring expenses.

S&P 500 (SPX) - Vylor (VYLR) joined the S&P 500 on 1st October following its spin-off from Corteva (CTVA), replacing Corteva. Twilio (TWLO) will join the S&P 500 before trading on 6th October, replacing Warner Bros. Discovery (WBD).