Newsquawk Daily European Equity Opening News - 7th September 2026

APAC stocks traded mixed as the region reflected on the recent strong US jobs data and subsequent Fed rate hike bets, as well as the US and Iran tit-for-tat attacks on vessels in the Strait of Hormuz. ASX 200 was little changed as resilience in the energy, resources, materials and mining sectors is offset by underperformance in tech, utilities and telecoms, but with downside in the index cushioned by support at around the 9,000 level. Nikkei 225 gapped above the 66,000 level with tech-related stocks heavily represented in the list of biggest gainers in the index. KOSPI outperformed amid firm gains in the semiconductor giants, including SK Hynix, which is said to be sharply increasing the production share of its sixth-generation 10nm-class 1c DRAM. Hang Seng and Shanghai Comp lagged with the Hong Kong benchmark pressured amid underperformance in the likes of Baidu and Xiaomi, while the big banks also declined after reports that ICBC and AgBank plan large A-share placements to raise CNY 100bln and CNY 160bln, respectively, as part of a Beijing-led CNY 360bln capital injection in financials.

ICBC (601398 CH), Agricultural Bank of China (601288 CH) - ICBC plans to raise CNY 100bln to bolster its capital, while Agricultural Bank of China plans to raise CNY 160bln through a private placement of A shares. (Newswires)

China Battery Production - China has reportedly paused approvals for new factories as authorities conduct a review of existing and planned energy storage production capacity, Cailianshe reports. (Cailianshe)

Foxconn Technology (2354 TT) - Co. August revenue TWD 21.87bln (prev. TWD 13.80bln Y/Y). Co. says Q3 performance is expected to outperform market expectations given strong AI-related demand. (Foxconn)

South Korea-US Investment - South Korea and the US have reportedly agreed on a USD 22.3bln gas plant project in Texas, Edaily reports. (Edaily)

Tata Consultancy Services (TCS IN) - Hypervault, a TCS subsidiary, announces that it will invest up to INR 700bln to build a 1 GW AI data centre campus in Telangana. (TCS)

Tata Motor (TMCV IN) - Co.'s JLR is planning to cut as many as 4k jobs over the next 2 years, with JLR having informed colleagues and trade union partners of voluntary redundancy programmes, the Times reports. Following the report, the UK's Business Minister Reynolds told the BBC that he will meet with the JLR CEO this week to discuss job cuts but rules out government support to limit job losses. (The Times/Newswires)

CLOSES: Euro Stoxx 50 +0.19% at 6,394, Dax 40 +0.17% at 26,048, FTSE 100 0.00% at 10,831, CAC 40 -0.09% at 8,279, FTSE MIB -0.28% at 52,100, IBEX 35 +0.25% at 20,051, PSI -0.14% at 9,389, SMI +0.11% at 14,411, AEX +0.80% at 1,114

SECTORS: IT 2.03%, Utilities 0.64%, Consumer Disc 0.44%, Consumer Stpl 0.33%, Industrials 0.28%, Financials 0.00%, Materials -0.13%, Telecoms -0.61%, Energy -1.00%, Healthcare -1.18%

Associated British Food (ABF LN) - The EU approves the acquisition of Hebei Mauri Food through the Co.'s JV with Wilmar. (EU)

AstraZeneca (AZN LN) - Co. announces that its camizestrant in combination with a CDK 4/6 inhibitor has been approved in the US for the treatment of adult patients with HR-positive, HER2-negative, locally advanced or metastatic breast cancer upon detection of ESR1 mutation during AI and CDK4/6 inhibitor therapy. (AstraZeneca)

UK Budget - UK Chancellor Healey told the FT that the UK is suffering economic damage in a "more dangerous world" and insists that he will ensure the UK emerges with a solid fiscal buffer against uncertainty. Healey added that the Middle East conflict is hitting inflation, growth and borrowing costs. (FT)

UK Investment - UK Chancellor Healey is set to announce a GBP 150mln fund for firms in the North of England and lay out plans to use public finance institutions to bring in private investment across regions at his speech on Monday. (Bloomberg)

UK Jobs - UK KPMG/REC permanent job placements (Aug) 50.5 (prev. 50). KPMG Chief says confidence is beginning to return to the market. (KPMG/REC)

OTHER UK COMPANIES

BROKER MOVES

German Defence - German Interior Ministry Spokesperson says Germany is planning a broad package of measures to strengthen its defence against drone attacks, cyber intrusions and other forms of Russian sabotage. (Bild)

German Election - The AfD won 44% of the votes in the Saxony-Anhalt state election, while the CDU gained 17.5% of votes, according to preliminary results. The result leaves the AfD 3 votes short of a majority, however, party co-leader Weidel says they will reach out to potential partners to assemble a government. (Bloomberg)

Hannover Re (HNR1 GY) - Co. sees slightly lower P&C reinsurance prices at the January 1st 2027 renewals. Co. adds that they plan to make at least stable reinsurance capacities available for the renewals, provided risk-adequate prices can be obtained. (EQS)

OTHER GERMAN COMPANIES

BROKER MOVES

Bechtle (BC8 GY) initiated with Neutral at JPMorgan

EssilorLuxottica (EL FP) - Co. CEO has reportedly streamlined senior management following a bust-up with the founder's son and as the Co. pushes into North America, the FT reports. (FT)

OTHER FRENCH COMPANIES

BROKER MOVES

Italian Banks - Italy's Vice Premier Salvini says he plans to propose taxing banks' profits, interest income and expenses and fees in the budget, as banks look set for another record year of profits, he told Bloomberg. (Bloomberg)

Iveco Group (IVG IM) - Tata Motors (TMCV IS) has launched an open offer for Iveco Group shares at EUR 14.10/shr, valuing the Italian commercial vehicle manufacturer at around EUR 3.82bln. (Iveco)

Leonardo (LDO IM) - Co. CEO says they are planning to deepen ties with Ukraine's military technology sector through its new Kyiv unit by seeking partnership, investment or acquisitions. (Newswires)

BROKER MOVES

Novartis (NOVN SW), Ionis Pharmaceuticals (IONS) - Novartis announces that the pelacarsen phase III Lp(a)HORIZON trial did not meet its primary endpoint of reducing the risk of cardiovascular events. (Novartis) Novartis shares are indicated lower by 4.5% on Tradegate

UBS (UBSG SW) - Co. has hired 3 ex-Nomura (8604 JT) employees in Japan to boost its cross-asset sales to local institutional investors, Bloomberg reports citing sources. (Bloomberg)

OTHER SWISS COMPANIES

BROKER MOVES

Schindler (SCHN SW) downgraded to Sell from Neutral at Goldman Sachs

BROKER MOVES

CLOSES: SPX -0.38% at 7,719, NDX +0.21% at 29,544, DJI -0.51% at 53,419, RUT +0.25% at 2,976.

SECTORS: Consumer Discretionary -1.26%, Health -1.06%, Energy -0.99%, Consumer Staples -0.96%, Communications -0.94%, Real Estate -0.85%, Financials -0.76%, Materials -0.42%, Utilities flat, Technology +0.23%, Industrials +0.41%.