Newsquawk Daily European Equity Opening News - 3rd July 2026

ASIA

APAC stocks were in the green as sentiment gradually improved from the initial tech-related jitters that rolled over from the US, where the major indices were mixed as weaker-than-expected jobs data eased rate hike concerns and helped the DJIA notch a fresh all-time high, but the Nasdaq lagged on tech selling. ASX 200 climbed higher with the mining, materials, healthcare and resources sectors front-running the advances, and atoning for the weakness in utilities, energy, tech and telecoms. Nikkei 225 dipped at the open alongside tech pressure, but then pared the almost 1000-point drop to return to above the 69,000 level. KOSPI shrugged off the initial weakness with the fluctuation in the index, largely a reflection of the tech sector and swings in the SK Hynix shares. Set to end the APAC session with gains of c. 4.6%, with the likes of Samsung (+8.9%) and SK Hynix (+8.8%) both soaring. Hang Seng and Shanghai Comp conformed to the upbeat mood amid the rising tide across Asia-Pac stocks and as participants also digested better-than-expected Chinese RatingDog Services PMI data.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +1.35% at 6,367, Dax 40 +2.02% at 25,546, FTSE 100 +1.67% at 10,653, CAC 40 +1.65% at 8,475, FTSE MIB +1.60% at 52,428, IBEX 35 +1.37% at 19,672, PSI +1.20% at 9,200, SMI +1.69% at 14,353, AEX -0.04% at 1,073

FTSE 100

Barclays (BARC LN) - Co. has reportedly withdrawn its USD 960mln financing for Sound Inpatient Physicians after the debt sale failed to bring in enough investor demand, Bloomberg reports. (Bloomberg)

British American Tobacco (BATS LN) - Reynolds American told US senators it supports tougher FDA/DOJ enforcement against illicit ENDS products, especially Chinese imports, but argues regulation should distinguish them from FDA-reviewed products. It says adult smokers need legal alternatives, youth access must be prevented, and FDA delays helped illicit vapes dominate the market. (Reynolds American)

BP (BP/ LN) - JERA Nex BP says it has increased its shareholding in two Belgium offshore wind farms after acquiring Sumitomo Corporation's (8053 JT) stakes in ⁠the projects. (Newswires)

OTHER UK COMPANIES

JD Wetherspoon (JDW LN) - The UK Government has announced an emergency law to allow pubs to stay open until 5am on Monday as England play Mexico. (Newswires)

Ocado (OCDO LN) - One of the Co.'s top investors have reportedly written to the board to remove Chair Warby after he tried to remove CEO Steiner and identify a replacement, the FT reports. According to the investor's letter, around a quarter of shareholders support Warby's removal. (FT)

BROKER MOVES

DAX

Rheinmetall (RHM GY) - Co. says that it is assessing the impact of the F126 frigate programme cancellation. The programme cancellation will result in a shortfall of the expected quarterly Rheinmetall Nomination of EUR 20bln including F126, despite strong order momentum in all other segments, including the first order for loitering ammunition in April and the Romanian order package under the SAFE regime at the end of May. The Co. is currently investigating whether the order cancellation has any additional impact on the FY guidance. In case that no mitigating measures can be identified, the 2026 revenue impact could reach a level of up to EUR 300mln. The planned contribution on the 2030 mid-term revenue guidance was below 3%. (EQS)

OTHER GERMAN COMPANIES

Renk (R3NK GY) - Co. is reportedly nearing a deal to acquire David Brown Defence valued at between USD 200-250mln, Bloomberg reports. (Bloomberg)

BROKER MOVES

GEA Group (G1A GY) upgraded to Outperform from Sector Perform at RBC

Siemens (SIE GY) upgraded to Hold from Reduce at Kepler Cheuvreux

CAC

Airbus (AIR FP) - Co. reportedly delivered around 350 planes in H1'26, Bloomberg reports. Data also showed that June handovers rose to around 90 from 81 in May. (Bloomberg)

Engie (ENGI FP) - Co.'s North America unit says it is assessing the damage from hurricane-force winds at its Trople H Wind Far, in Hyde Country, with the farm remaining out of service. (Engie)

OTHER FRENCH COMPANIES

Elis (ELIS FP) - Co. announces the acquisition of ServBrazil; no terms disclosed. (Elis)

Eurazeo (RF FP) - Co. completes the sale of its stake in FST Hotels. (Eurazeo)

BROKER MOVES

PAN EUROPE

Subsea7 (SUBC NO), Saipem (SPM IM) - An Australian watchdog says the proposed merger between the two Cos will proceed to a Phase 2 review, due to concerns that a deal could trim competition in domestic offshore oil and gas projects. (Newswires)

BROKER MOVES

OMV (OMV AT) reinitiated with Equal Weight at Morgan Stanley

Repsol (REP SM) downgraded to Equal Weight from Overweight at Morgan Stanley

Stellantis (STLAM IM/STLAP FP) downgraded to Reduce from Hold at HSBC

SMI

OTHER SWISS COMPANIES

Julius Baer (BAER SW) - Co. appoints Peter Burrill as CFO, effective immediately. (Julius Baer)

BROKER MOVES

Bucher Industries (BUCN SW) downgraded to Sector Perform from Outperform at RBC

SCANDINAVIA

Aker BP (ALRBP NO) - Q2 Trading Update: Net production 383.6 mboepd (prev. 398.4 mboepd Q/Q), net volume sold 375.7 mboepd (prev. 405.7 mboepd Q/Q). (Aker BP)

Skanska (SKAB SS) - Co. divests second building of the office project Studio in Warsaw, Poland, for about SEK 1.7bln. (Skanska)

BROKER MOVES

Maersk (MAERSKB DC) upgraded to Neutral from Sell at Goldman Sachs

Novonesis (NSISB DC) upgraded to Neutral from Underperform at BNP Paribas

Skanska (SKAB SS) upgraded to Buy from Hold at Danske Bank

Tele2 (TEL2B SS) upgraded to Hold from Sell at SEB

US

CLOSES: SPX -0.01% at 7,483, NDX -1.61% at 29,329, DJI +1.14% at 52,904, RUT -0.55% at 2,996

SECTORS: Technology -1.46%, Communication Services -0.84%, Consumer Discretionary -0.81%, Industrials +0.31%, Energy +0.83%, Real Estate +1.19%, Financials +1.58%, Materials +2.08%, Utilities +2.26%, Consumer Staples +2.41%, Health +2.65%.