Newsquawk Daily European Equity Opening News - 31st August 2026

APAC stocks were mostly lower heading into month-end and after recent hawkish comments from Fed Chair Warsh at Jackson Hole, while tensions in the Middle East escalated over the weekend after the US and Iran resumed strikes for the first time in over a month. ASX 200 saw mixed price action and was initially kept afloat amid strength in the top-weighted financials sector and with gains also seen in energy, utility and consumer industries, although upside was limited and eventually reversed following disappointing Private Sector Credit and Company Profits data. Nikkei 225 gapped lower at the open to below the 66,000 level, although it was off today's worst levels as participants also reflected on stronger-than-expected Japanese Industrial Production and Retail Sales data. KOSPI retreated amid weakness in its tech heavyweights and with a report noting that day traders are abandoning Korean chip leveraged ETFs in large numbers, with leveraged ETFs targeting twice the daily returns of chipmakers Samsung Electronics and SK Hynix, on course for their first monthly outflow. Hang Seng and Shanghai Comp were subdued, with risk appetite not helped by the latest official PMI data, in which headline Manufacturing topped forecasts, but Non-Manufacturing disappointed and both remained in contraction territory.

Chinese PMI - NBS Manufacturing PMI (Aug) 49.8 vs. Exp. 49.7 (Prev. 49.2); NBS Non Manufacturing PMI (Aug) 49.0 vs. Exp. 49.5 (Prev. 49.0). Says the latest slowdown is particularly concerning because it is demand-driven and has spread to areas that had previously remained resilient.

CXMT (688825 CH) - Co. has filed a lawsuit against the US DoD to be removed from a blacklist that identifies the Co. as a supporter of China's military. (Bloomberg)

Honda Motor (7267 JT), Nissan Motor (7201 JT) - The two Cos are expected to agree on developing a shared operating system and onboard computer to go into new vehicles as early as 2029, Nikkei reports. (Nikkei)

SK Hynix (000660 KS) - SK's Chair says the Co. is considering various locations for a jointly operated plant. (Bloomberg)

CLOSES: Euro Stoxx 50 +0.96% at 6,486, Dax 40 +0.82% at 26,583, FTSE 100 +0.29% at 10,824, CAC 40 +0.98% at 8,401, FTSE MIB +0.67% at 52,616, IBEX 35 +0.81% at 20,042, PSI +0.44% at 9,431, SMI +0.11% at 14,400, AEX +0.81% at 1,112

SECTORS: Consumer Disc 1.56%, Utilities 1.23%, Financials 1.09%, Materials 0.88%, Energy 0.67%, Telecoms 0.66%, IT 0.39%, Consumer Stpl 0.25%, Industrials 0.05%, Healthcare -0.69%

Glencore (GLEN LN) - Co. reportedly took a USD 480mln provision on its exposure to Radiant World, Bloomberg reports. (Bloomberg)

UK Banks and Oil - UK Chancellor Healey is reportedly considering a windfall tax on banks and oil majors in the Autumn budget as the Treasury finds ways to fill a GBP 4.7bln hole, the Telegraph reports. (The Telegraph)

OTHER UK COMPANIES

BROKER MOVES

Allianz (ALV GY) - Co. is reportedly considering a GBP 5bln takeover bid for breakdown recovery group AA, Sky News reports. (Sky News)

Bayer (BAYN GY) - Co. presented first detailed Phase III REVEAL results evaluating investigational PET radiotracer iodine 124 evuzamitide for diagnosing cardiac amyloidosis. The Brigham and Women’s Hospital-led study met primary endpoints for sensitivity and specificity based on visual scan interpretation. Safety and secondary endpoint data in AL and ATTR amyloidosis were also presented; the compound remains unapproved. (Bayer)

OTHER GERMAN COMPANIES

BROKER MOVES

Airbus (AIR FP) - Co. is reportedly considering the sale of its US space business, the FT reports. (FT)

Credit Rating - Fitch affirms France at 'A+'; outlook 'Stable'. Fitch says with debt "projected at 122.7% of GDP [in 2028], France's debt would be more than double the projected 'A' peer median in 2028." Adds that "failure to make substantial progress on deficit reduction could lead to a revision of the Outlook to Negative. A further substantial rise in government debt could then lead to a downgrade." (Fitch)

OTHER FRENCH COMPANIES

Soitec (SOI FP) - Co. CEO tells Reuters that the Co. is locking customers into multi-year supply agreements with deposits and fixed pricing. (Reuters)

BROKER MOVES

Air Liquide (AI FP) initiated with Outperform at Mizuho

Eni (ENI IM) - Co. says it is working with Venezuela to support the revitalisation of the country's energy sector. (Eni)

InPost (INPST NA) - Q2 2026 (PLN): Revenue 4.18bln (prev. 3.53bln Y/Y), Adj. EBITDA 1.04bln (exp. 1.01bln, prev. 1.0bln Y/Y), Adj. Net Profit 132.9mln (prev. 266.2mln Y/Y). Cuts its FY26 Adj. EBITDA guidance to decline by mid-single-digit percentage Y/Y (prev. guided flat). (InPost)

BROKER MOVES

UBS (UBSG SW) - The Swiss government is expected to make a decision on Monday on capital rules for UBS and send a watered-down draft banking bill to the upper house of parliament, Reuters reports. The sources added that the upper house committee is leaning towards allowing UBS to back its foreign units with 50% CET1 capital, rather than the 100% demanded by the government. (Reuters)

OTHER SWISS COMPANIES

PolyPeptide (PPGN SW) - Co. announces that Samsung Peptide (207940 KS) has published the offer prospectus for its public tender offer for all publicly held registered shares of PolyPeptide. (EQS)

BROKER MOVES

Bakkafrost (BAKKA DC) - Q2 2026 (DKK): Revenue 1.83bln (exp. 2.11bln), Operational EBIT 273mln (prev. 65mln Y/Y), Scotland Revenue 213mln (prev. 431mln Y/Y). Maintains FY26 harvest guidance. CEO: "Not satisfied with the result in Scotland. Harvest volumes were substantially lower, and biological challenges affecting one batch of fish originating from externally sourced smolt had a significant impact on the result." (Bakkafrost)

BROKER MOVES

Electrolux (ELUXB SS) reinitiated with Hold at SEB

Frontline (FRO NO) downgraded to Hold from Buy at Nordea

Getinge (GETIB SS) downgraded to Hold from Buy at Nordea

CLOSES: SPX -0.25% at 7,711, NDX -0.70% at 29,433, DJI -0.02% at 53,564, RUT -1.39% at 2,972

SECTORS: Technology -1.3%, Utilities -1.15%, Industrials -0.97%, Real estate -0.5%, Materials -0.3%, Health -0.28%, Financials +0.34%, Consumer staples +0.54%, Energy +0.59%, Communication services +1.56%, Consumer discretionary +1.69%

Aon (AON), KKR & Co. (KKR) - Aon is nearing a roughly USD 17bln deal to acquire USI Insurance from KKR, according to the WSJ. The acquisition would expand Aon’s capabilities serving midsize businesses and could increase EPS from 2028 onwards. (WSJ)