Newsquawk Daily European Equity Opening News - 5th August 2026

ASIA

APAC stocks were mostly higher as the region took its cue from the rally on Wall Street, where the S&P 500 and Dow printed fresh record highs, although the Nasdaq was the outperformer on tech strength, while yields and oil prices declined amid hopes of a Hormuz deal. ASX 200 traded in the green, with the upside led by outperformance in miners, materials and tech, which picked up the slack from the weakness in energy, utilities and the top-weighted financial sector. Nikkei 225 rallied back above the 66,000 level amid the tech strength, with SoftBank shares among the biggest gainers, and are up by a double-digit percentage owing to its heavy AI exposure. KOSPI rallied amid the tech momentum and with earnings results also providing tailwinds for stocks. Hang Seng and Shanghai Comp were mixed, with the Hong Kong benchmark flat amid weakness in the energy sector, while the mainland conformed to the upbeat mood despite disappointing RatingDog Services PMI data, although Chinese optical stocks were pressured as the US mulls an import ban.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 +1.12% at 6,498, Dax 40 +0.83% at 26,252, FTSE 100 +0.22% at 10,881, CAC 40 +0.61% at 8,667, FTSE MIB +1.28% at 53,546, IBEX 35 +0.20% at 20,023, PSI -0.03% at 9,169, SMI +0.70% at 14,472, AEX +0.93% at 1,112

FTSE 100

OTHER UK COMPANIES

easyJet (EZJ LN) - The trade union has filed a strike notice for all easyJet France cabin crew over "deteriorating" work conditions. The strike notice is for August 8th to September 2nd. (Reuters)

BROKER MOVES

HSBC (HSBA LN) downgraded to Neutral from Buy at Citi

Smith+Nephew (SN/ LN) downgraded to Underweight from Equal Weight at Barclays

DAX

Deutsche Post (DHL GY) - Q2 2026 (EUR): Revenue 22.37bln (prev. 19.83bln Y/Y), EBIT 1.86bln (prev. 1.43bln Y/Y), EPS 0.91 (prev. 0.72 Y/Y). Increases its share buyback programme to up to EUR 6.5bln (prev. EUR 500mln) and extended through the end of 2027. Raises its FY26 EBIT guidance to "more than" 6.5bln (prev. guided "more than" 6.2bln). (DHL)

Fresenius SE (FRE GY) - Q2 2026 (EUR): Revenue 5.86bln (exp. 5.84bln), Organic revenue growth 6% (exp. 5.3%), core EPS 0.83 (exp. 0.80). Raises its FY26 core EPS growth to between 10-15% (prev. guided 5-10%). (Fresenius SE)

Infineon (IFX) - Q3 2026 (EUR): Revenue 4.17bln (exp. 4.13bln), Net Profit 423mln (exp. 452mln), Segment Result 797mln (exp. 809mln), Segment Result Margin 19.1% (exp. 19.6%). Q4 Guidance: Revenue "around" 4.7bln, Segment Result Margin "around" 23% (exp. 23.7%). FY26 Guidance: Revenue "around" 16.3bln (prev. guided significantly rising revenue compared with the prior year), Adj. FCF "around" 1.85bln (prev. guided 1.65bln). CEO: "Our power supply solutions for AI data centers remain in very high demand and continue to be our most important growth driver. In addition, rising investment worldwide in grid infrastructure is providing tailwinds. Automotive orders are also picking up noticeably." (Infineon)

Siemens Energy (ENR GY) - Q3 2026 (EUR): Revenue 11.45bln (exp. 11.19bln), Orders 17.93bln (exp. 16.72bln), Profit before Special Items 1.62bln (exp. 1.42bln). Confirms its FY26 view, guides Profit Margin before Special Items towards the upper end of the 10-12% range. Wind business returned to profitability in Q3 for the first time since 2022. Says order intake benefited primarily from demand in the US. (Siemens Energy)

Vonovia (VNA GY) - H1 2026 (EUR): Adj. EBITDA 1.46bln (prev. 1.42bln Y/Y), Adj. EBT 962.3mln (prev. 987.7mln Y/Y). Confirms FY26 guidance and FY28 medium-term objectives unchanged. CEO: "In the first half of the year, we continued our strong core Rental and Value-add performance. This compensated for the slower progression in our sales-related segments for which the market environment remains challenging for now." (Vonovia)

OTHER GERMAN COMPANIES

Kloeckner (KCO GY) - Q2 2026 (EUR): Revenue 1.7bln (exp. 1.69bln), Adj. EBITDA 63mln (prev. 65mln Y/Y). Guides FY26 EBITDA before material special effects between 170-250mln. (Kloeckner)

Schaeffler (SHA0 GY) - H1 2026 (EUR): Revenue 11.67bln (prev. 11.85bln Y/Y), Adj. EBIT 549mln (prev. 482mln Y/Y). Confirms its FY26 outlook. Additionally, the Co. has decided to expand its offer of partial retirement arrangements in Germany in response to the high level of interest on the part of employees, with around 1,300 employees expected to accept the offer. (Schaeffler)

BROKER MOVES

OHB (OHB GY) initiated with Buy at Berenberg

CAC

OTHER FRENCH COMPANIES

BROKER MOVES

PAN EUROPE

Ahold Delhaize (AD NA) - Revenue 23.2bln (exp. 23.2bln); Adj. EBIT Margin 3.9%, -0.1% Y/Y. Backs its FY26 outlook. (Ahold Delhaize)

Heineken (HEIA NA) - Q2 2026 (EUR): Revenue 8.13bln (exp. 8.07bln), Total Organic Volume +1.9% (exp. -0.295%). H1: Net Revenue 14.83bln (exp. 14.81bln), Operating Profit 2.17bln (exp. 2.18bln). Backs its FY26 Operating Profit view to between +2-6%. Says all five global brands delivered growth. Organic growth by region: Africa & Middle East +8.4%, Americas -8.4%, Asia Pacific +23.7%, Europe +1.0%. (Heineken)

Lenzing (LNZ AV) - H1 2026 (EUR): Revenue 1.27bln (prev. 1.34bln Y/Y), EBITDA Margin 18.6% (prev. 20% Y/Y), EPS -0.09 (prev. -0.90 Y/Y). States that its strategic objective is to return to revenue growth in the medium term, while increasing EBITDA by EUR 150mln, achieving an EBITDA margin of 20-25%, and reducing leverage to below 2.5x. (Lenzing)

Luxury - Chanel's comparable sales rose 16% Y/Y in H1'26, according to Bloomberg citing sources. Fashion sales, the Co.'s largest unit, also grew by a similar percent, the source added. Growth was led in the US, +25%. Other units: Watches and Fine Jewelry +35%, Fragrance and Beauty +8%. (Bloomberg)

Voestalpine (VOE AV) - Q1 2026/27 (EUR): Revenue 4bln (exp. 3.99bln), EBITDA 495mln (prev. 361mln Y/Y), EBIT 307mln (prev. 172mln Y/Y). Backs its FY26/27 view, with EBITDA expected between 1.6-1.85bln (exp. 1.78bln). (Voestalpine)

BROKER MOVES

SMI

OTHER SWISS COMPANIES

Sandoz (SDZ SW) - H1 2026 (USD): Revenue 5.76bln (exp. 5.76bln), Adj. EBITDA 1.21bln (prev. 1.05bln Y/Y), Adj. EPS 1.71 (prev. 1.46 Y/Y). Confirms FY26 guidance. H1 Sales breakdown: Biosimilars 1.88bln, +20% at CC; Generics 3.89bln, -1% at CC. (Sandoz)

BROKER MOVES

SCANDINAVIA

EQT (EQT SS) - Co.-backed EdgeConneX is reportedly in early discussions to raise as much as USD 4bln of debt for a data centre project in Texas, Bloomberg reports. (Bloomberg)

Novo Nordisk (NOVOB DC) - Q2 2026 (DKK): Net Revenue 78.49bln (exp. 71.6bln), Adj. EBIT 33.4bln (exp. 28.9bln); EBIT 27.06bln, -16% at CER; Wegovy pill sales 3.22bln (exp. 3.3bln). Raises its FY26 adj. sales and operating profit outlook to between 0% to -6% at CER (exp. -5.9%, prev. guided -12 to -4%), driven by increased expectations for GLP-1 product sales. Reported sales growth and EBIT was negatively impacted by a DKK 2.6bln rebate provision reversal, as well as non-cash impairment charges of DKK 6.3bln in Q2'26 related to intangible pipeline assets, including monlunabant. Co. says the Wegovy pill continues its uptake in the US, and for the week ending 17 July, total weekly prescriptions exceeded 265,000. (Novo Nordisk)

Ringkjobing Landbobank (RILBA DC) - H1 2026 (DKK): Core earnings 1.60bln (prev. 1.58bln Y/Y), Net Profit 1.19bln (prev. 1.19bln Y/Y). Expects FY26 Net Profit between 2.2-2.5bln. (Ringkjobing Landbobank)

BROKER MOVES

US

CLOSES: SPX +1.79% at 7,737, NDX +3.32% at 29,733, DJI +1.71% at 54,091, RUT +1.85% at 3,037

SECTORS: Utilities -0.60%, Energy -0.49%, Consumer Discretionary -0.48%, Health -0.14%, Real Estate -0.12%, Consumer Staples +0.42%, Communication Services +0.56%, Financials +0.88%, Industrials +1.80%, Materials +1.99%, Technology +4.09%.

Advanced Micro Devices (AMD) - Shares fell about 7.4% afterhours as the outlook, despite exceeding consensus, fell short of lofty investor expectations. Q2 adj. EPS 1.66 (exp. 1.61), Q2 revenue USD 11.54bln (exp. 11.31bln). Data Centre revenue +107% Y/Y to USD 6.7bln (exp. 6.6bln), driven by strong EPYC processor and Instinct GPU demand; client and gaming revenue +6% Y/Y to USD 3.8bln. CEO said EPYC demand is accelerating, Instinct deployments are scaling and Helios is beginning to ramp, with Data Centre sales expected to accelerate in H2 FY26, and more than double in FY27, with growth potentially well above 100%, adding that it sees longer-term performance exceeding its prior targets of 35% annual revenue growth and EPS of 20.00. Sees Q3 revenue between USD 12.7-13.3bln (exp. 12.51bln), adj. gross margin of about 56%.

Gilead (GILD) - Shares edged lower after acquisition-related research and development costs drove a quarterly loss, overshadowing stronger revenue, product sales and improved guidance. Q2 adj. EPS -6.75 (exp. -7.25), Q2 revenue USD 7.8bln (exp. 7.4bln). Acquisitions of Arcellx, Tubulis and Ouro Medicines generated acquired in-process R&D expenses and related tax effects of 9.08/shr. Base-business revenue +10% Y/Y, driven by the HIV portfolio, Trodelvy and Livdelzi, while HIV sales +12% Y/Y and quarterly HIV prevention sales exceeded USD 1bln for the first time. Yeztugo sales were USD 232mln (exp. 219mln), with the FY26 sales target maintained at USD 1bln, while Biktarvy sales reached USD 3.8bln and Descovy sales rose 48% Y/Y. CEO highlighted rapid PrEP expansion, three FDA approvals and three positive Phase 3 updates, with two potential oncology and HIV launches expected in H2 FY26. Raises FY26 EPS guidance to between -0.65 and -0.30 (exp. -0.75; prev. saw -1.05--0.65), and narrows FY26 product sales guidance to between USD 30.1-30.4bln (prev. saw 30.0-30.4bln).

SpaceX (SPCX) - SpaceX fell 7.3% in extended trading after higher than expected capital spending on its artificial intelligence business overshadowed stronger-than-forecast earnings, while an impending share-sale eligibility window added further pressure. Q2 EPS -0.09 (exp. -0.29), Q2 revenue USD 7.8bln (exp. 6.82bln). The AI business posted an operating loss of USD 1.26bln (exp. loss 2.39bln). Reported 12.0mln Starlink subscribers, 10,200 satellites in orbit, 78 launches YTD and 1,041 tonnes of mass delivered to orbit as of 30th June. Cash, cash equivalents and marketable securities were USD 100bln, with backlog of USD 47.5bln. CFO noted accelerating growth across all business segments, operating leverage and margin expansion driven by AI compute agreements. Is on track to reach USD 100bln of ARR by the end of FY26, including Cursor, and contracted an additional USD 6.7bln of cloud services revenue in the first weeks of Q3, ramping from October over six months. Management expects Q3 and Q4 capital expenditure to remain broadly similar to Q2, while targeting a rapid increase in Starship launches and expansion into direct mobile connectivity. Expects Starlink enterprise revenue to substantially exceed consumer revenue, and sees a non-zero chance of reaching USD 1tln in revenue in 2029, with internal projections moved forward to 2030 from 2031. More than USD 100bln of stock is due to become eligible for sale later this week, creating an additional near-term overhang.