Newsquawk Daily European Equity Opening News - 11th May 2026

ASIA

APAC stocks traded mixed as the region reflected on last Friday's tech rally and NFP beat, as well as firmer-than-expected Chinese data, and geopolitical developments with US President Trump rejecting Iran's response to the peace proposal. ASX 200 was dragged lower by heavy losses in the health care sector as CSL shares slumped by around 19% after it flagged a USD 5bln impairment, while sentiment was also not helped by a report that Australia’s government is to scrap the 50% capital gains tax discount by July 2027. Nikkei 225 initially climbed to a fresh record high north of the 63,000 level but then wiped out its gains amid headwinds from higher oil prices and weak earnings outlooks for the likes of Nintendo and Honda. KOSPI outperformed and rose to an all-time high on tech strength, while the Korea Exchange activated a sidecar on the KOSPI after KOSPI 200 futures rose 5% to halt programme trading for 5 minutes. Hang Seng and Shanghai Comp were varied amid the mixed fortunes among the tech names in Hong Kong, and with the mainland boosted after Chinese trade and inflation data topped forecasts.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -1.01% at 5,912, Dax 40 -1.44% at 24,307, FTSE 100 -0.43% at 10,233, CAC 40 -1.09% at 8,113, FTSE MIB +0.00% at 49,290, IBEX 35 -0.95% at 17,889, PSI -0.73% at 9,067, SMI -0.26% at 13,101, AEX -0.19% at 1,018

SECTORS: IT 0.84%, Energy 0.28%, Telecoms 0.28%, Utilities -0.18%, Materials -0.36%, Consumer Stpl -0.48%, Healthcare -0.76%, Consumer Disc -0.80%, Financials -0.97%, Industrials -1.49%

FTSE 100

Rio Tinto (RIO LN) - YEC will begin construction of the Jinbi Solar Project in the Pilbara after reaching Financial Close and signing a 30-year Power Purchase Agreement with Rio Tinto. (Rio Tinto)

OTHER UK COMPANIES

BROKER MOVES

DAX

Hannover Re (HNR1 GY) - Q1 2026 (EUR): Net Income 711mln (prev. 481mln Y/Y), Revenue 6.5bln (prev. 7.0bln Y/Y), affirms FY26 net of above EUR 2.7bln and P&C reinsurance revenue growth in the mid-single digit %. (Hannover Re)

OTHER GERMAN COMPANIES

Aurubis (NDA GY) - Q2 2026 (EUR): EBIT 118mln (prev. 100mln Y/Y), Revenue 6.04bln (prev. 4.97bln Y/Y), affirms FY26 EBT between 425-525mln (prev. guided 375-475mln). (Aurubis)

Hypoport (HYQ GY) - Q1 2026 (EUR): Revenue 169.3mln (prev. 159.2mln Y/Y), Gross Profit 71mln (prev. 66mln Y/Y), EPS 1.18 (prev. 0.82 Y/Y). (Hypoport)

K+S (SDF GY) - Q1 2026 (EUR): EBITDA 279mln (prev. 201mln Y/Y), Revenue 1.06bln (prev. 965mln Y/Y), raises FY26 EBITDA between 630-730mln (prev. guided 600-700mln). Stated that the effects of the Middle East will continue to be of limited predictability. (K+S)

Stabilus (STM GY) - Sells Fabreeka and Tech Products to VMC Group; total enterprise value of USD 92mln. Expected to close in Q3’26. (Stabilus)

Thyssenkrupp Nucera (NCH2 GY) - Q2 2026 (EUR): Sales 50mln (prev. 216mln Y/Y). Order Intake 316mln (prev. 83mln Y/Y). The significant increase is primarily driven by the recognition of a 300 MW hydrogen project in Spain, which was signed in mid‑March 2026. Considers previously guided outlook as “appropriate”. (Thyssenkrupp Nucera)

BROKER MOVES

CAC

OTHER FRENCH COMPANIES

Euronext (ENX FP) - Co. reports April equity derivatives volume -33% M/M. (Euronext)

BROKER MOVES

PAN EUROPE

Almirall (ALM SM) - Q1 2026 (EUR): Sales 291mln (exp. 293.9mln), EBITDA 67.5mln (prev. 70.9mln Y/Y). Reiterated 2026 guidance. (Almirall)

Argenx (ARGX BB) - Co. said the primary endpoint was met, demonstrating that patients treated with VYVGART achieved a statistically significant improvement in MG-ADL total score compared to placebo at week 4. (Argenx)

Commerzbank (CBK GY) / UniCredit (UCG IM) - ECB’s de Guindos voiced his opposition against Germany’s decision to oppose UniCredit’s push for Commerzbank. He suggested that the euro area should be treated as a “single jurisdiction with free flow of capital and equity, and common deposit insurance”. (ECB)

Delivery Hero (DHER GY), Prosus (PRX NA) - Prosus is to sell a 5% stake of Delivery Hero to Aspex Management at EUR 22.00/shr. (Newswires)

Snam (SNAM IM) - Il Messaggero reported that the Co. has updated its credit support line, raising the ceiling to EUR 5.1bln (prev. 4bln); a move which helps the co. to achieve its 2030 Strategic Plan. (Il Messaggero)

Tenaris (TEN IM) - Co. announced that it has entered into a definitive agreement to acquire from GLGH Steel; deal valued at EUR 86mln. (Tenaris)

BROKER MOVES

EDP Renovaveis (EDPR PL) upgraded to Buy from Hold at HSBC.

SMI

ABB (ABBN SW) - Co. is to invest USD 200mln in low voltage production sites. (ABB)

OTHER SWISS COMPANIES

BROKER MOVES

ams-OSRAM (AMS SW) upgraded to Buy from Hold at Jefferies

SCANDINAVIA

BROKER MOVES

US

CLOSES: SPX +0.81% at 7,397, NDX +2.35% at 29,235, DJI +0.02% at 49,609, RUT +0.71% at 2,860.

SECTORS: Technology +2.69%, Consumer Discretionary +0.46%, Materials +0.42%, Real Estate +0.11%, Consumer Staples +0.03%, Communication Services -0.04%, Industrials -0.50%, Financials -0.61%, Energy -0.63%, Health -0.89%, Utilities -0.94%.

Nvidia (NVDA) - The Co. is reportedly finalised the production version with its ODM partners, entering trial production in Hune and shipments to begin in July to its North American CSPs, according to Economic Daily citing sources. (Economic Daily)