Newsquawk Daily European Equity Opening News - 6th August 2026

ASIA

APAC stocks traded mostly lower following a similar performance stateside, where the Dow extended on its record levels, but the Nasdaq underperformed amid weakness in communication stocks, while the tech sector dragged overnight and tariff tensions resurfaced. ASX 200 climbed to a fresh record high with mining, materials and resources leading the advances, while trade data also showed a surprise surplus and a rebound in exports. Nikkei 225 retreated amid chip-related weakness and with Kioxia among the worst hit. KOSPI underperformed amid tech selling and as recent volatility continued to dent investor sentiment, with SK Hynix shares down about 8%, and had suffered another pre-market flash crash in which its shares dropped by the daily limit of 30% on the Nextrade bourse before ending the pre-market session down 2%. Hang Seng and Shanghai Comp were mixed, with insurers pressured after Chinese tax authorities began levying personal income tax on returns of offshore insurance policies, while trade frictions continued to resurface after MOFCOM announced it would strengthen drone export controls to the US and will impose countermeasures on six US entities, as well as take countermeasures against US compliance-testing firms.

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.10% at 6,480, Dax 40 -0.24% at 26,144, FTSE 100 +0.10% at 10,890, CAC 40 +0.03% at 8,669, FTSE MIB -0.19% at 53,441, IBEX 35 +0.17% at 20,057, PSI +0.08% at 9,176, SMI +0.52% at 14,539, AEX -0.10% at 1,111.

FTSE 100

FTSE 100 Ex-dividend - BT Group (BT/A LN), RELX (REL LN), AstraZeneca (AZN LN), Unilever (ULVR LN), Barclays (BARC LN), Standard Chartered (STAN LN), Reckitt Benckiser (RKT LN), St. James’s Place (STJ LN), Rolls-Royce (RR/ LN), Informa (INF LN), Lloyds Banking Group (LLOY LN), SEGRO (SGRO LN), and Schroders (SDR LN) will trade without entitlement to their latest dividend payouts. (dividenddata)

Jobs - The UK Government announced the Global Talent Visa, which offers a cheaper and quicker way for high-skilled and wealthy people to enter the country. (Gov.uk)

OTHER UK COMPANIES

BROKER MOVES

DAX

Bayer (BAYN GY) - Co. has issued a filing requesting that the hearing regarding the USD 7.25bln Roundup weedkiller settlement be delayed to September 10th from August 19th. Bayer says this will help the parties process opt-out revocation requests. (Bloomberg)

Commerzbank (CBK GY) - Q2 2026 (EUR): Revenue 3.3bln (exp. 3.25bln), Operating Profit 1.37bln (exp. 1.31bln), NII 2.06bln (prev. 2.06bln Y/Y). Confirmed its FY26 outlook and targets through 2030. Next share buyback of up to EUR 1.2bln planned and approved by ECB. On UniCredit, CEO says “Even when UniCredit holds a majority at the next Annual General Meeting, it cannot unilaterally decide on fundamental structural measures. This creates a clear responsibility for both sides." (UniCredit)

Deutsche Telekon (DTE GY) - Q2 2026 (EUR): Revenue 29.9bln (exp. 29.9bln), Adj. EBITDAaL 11.82bln (exp. 11.70bln). Raises its FY26 FCF after leases to "around" 20bln (prev. guided "more than" 19.8bln). Announces the increase of its 2026 share buyback programme by up to EUR 3bln. (Deutsche Telekom)

Merck KGaA (MRK GY) - Q2 2026 (EUR): Revenue 5.43bln (exp. 5.29bln), EBITDA before one-time items 1.6bln (exp. 1.53bln). Raises its FY26 guidance; Net Sales between 21-21.8bln (prev. guided 20.4-21.4bln) and EBITDA before one-time items between 5.9-6.3bln. Guidance raise reflects assumptions of stronger momentum in Life Science – including minor headwinds from tariff refunds to customers – and Electronics, while Healthcare demonstrated resilience in a challenging environment. (Merck KGaA)

Rheinmetall (RHM GY) - H1 2026 (EUR): Sales 5.227bln (prev. 3.749bln Y/Y), Operating Result 786mln (prev. 453mln Y/Y). Q2: Net Profit 124mln (exp. 270.3mln), Operating Margin 17.1% (exp. 1.9%). FY sales guidance cut by EUR 300mln to between EUR 13.7-14.2bln (exp. EUR 14bln), still sees FY operating margin c. 19% (exp. 19.1%). Other H1 Metrics: Backlog 80.5bln (prev. 56.0bln Y/Y), Operating result margin 15.0% (prev. 12.1% Y/Y), EPS from continuing operations 8.43 (prev. 4.69 Y/Y), Operating Free Cash Flow -1.616bln (prev. -631mln Y/Y), Rheinmetall Nomination 16.2bln (prev. 12.7bln Y/Y). (Rheinmetall)

Siemens (SIE GY) - Q3 2026 (EUR): Revenue 20.8bln (exp. 20.44bln), Orders 27.90bln (exp. 24.70bln), Net Profit 2.27bln (exp. 1.90bln), Profit from Industrial Business 3.52bln (exp. 3.18bln), Profit Margin from Industrial Business 17.3% (exp. 15.8%). Raises its FY26 EPS Pre PPA to 11.20-11.50 (prev. guided 10.70-11.10). CFO: “As expected, we’ve now received binding decisions from the tax authorities clarifying the relevant tax topics. As a result, we can proceed with the spin-off of Siemens Healthineers as planned.” (Siemens)

OTHER GERMAN COMPANIES

1&1 (1U1 GY) - H1 2026 (EUR): Revenue 2.27bln (prev. 2.23bln), EBITDA 382mln (prev. 364mln), EBIT 111mln (prev. 69mln), EPS 0.17 (prev. 0.04). FY Guidance: 2026, 2027 & 2028 views confirmed. (EQS)

Aurubis (NDA GY) - Q3 2026 (EUR): Revenue 6.45bln (prev. 4.60bln Y/Y), EBIT 146mln (prev. 62mln Y/Y). (Aurubis)

Carl Zeiss Meditec (AFX GY) - 9M 0226 (EUR): Revenue 1.55bln (prev. 1.60bln Y/Y), EBITA 108.4mln (prev. 175.4mln Y/Y). (Carl Zeiss Meditec)

Evotec (EVT GY) - Co. enters into a strategic R&D collaboration with Odyssey Therapeutics (ODTX) to discover potential new treatments in autoimmune and inflammatory diseases. (EQS)

Fraport (FRA GY) - H1 2026 (EUR): revenue 2.07bln (prev. 1.99bln Y/Y). Affirms its FY26 EBITDA guidance. (Fraport)

Henkel (HEN3 GY) - H1 2026 (EUR): Sales 10.3bln (exp. 10.3bln), adj. EBIT 1.62bln (exp.1.57bln). FY Guidance: top-line expectations upgraded for group and adhesive technology. (EQS)

Nordex (NDX1 GY) - Co. has received a new order in Türkiye from Türkerler Holding for a total capacity of around 525 MW. The contract covers the supply and installation of 72 N175/6.X turbines and also includes a 10-year Premium Service agreement with an extension possibility up to 25 years. (EQS)

ProsiebenSat.1 (PSM GY) - Q2 2026 (EUR): Revenue 768mln (exp. 767mln), EBITDA 124mln (prev. -28mln). FY Guidance: confirmed. (ProsiebenSat.1)

Qiagen (QIA GY) - Q2 2026 (USD): Adj. EPS 0.62 (exp. 0.60), Revenue 535mln (exp. 527.5mln). (Qiagen)

Rational (RAA GY) - Q2 2026 (EUR): Revenue 323.9mln (exp. 325.5mln), EBIT 94mln (prev. 81.3mln Y/Y). Confirms FY26 forecast. (Rational)

Scout24 (G24 GY) - Q2 2026 (EUR): Revenue 192.7mln (exp. 190.7mln) , Operating EBITDA 116mln (prev. 101.7mln Y/Y). Confirms FY26 guidance. (Scout24)

BROKER MOVES

CAC

OTHER FRENCH COMPANIES

BROKER MOVES

Technip Energies (TE FP) downgraded to Neutral from Overweight at JPMorgan

L'Oreal (OR FP) upgraded to Hold from Underperform at Jefferies

PAN EUROPE

Banco BPM (BAMI IM) - Q2 2026 (EUR): Net Income 581mln (exp. 533.2mln), Revenue 1.67bln (exp. 1.6bln). Raises its FY26 Net Income guidance to "over" 1.95bln (prev. guided 1.95bln) and raises its DPS guidance to over 1.00 (prev. guided c. 1.00). CEO says, post-earnings, that they would consider a merger with Credit Agricole Italia (ACA FP) as it would be "a very solid merger" from an industrial standpoint. (Banco BPM)

KBC (KBC BB) - Q2 2026 (EUR): Net Result 1.15bln (prev. 1.02bln Y/Y), Basic EPS 2.83 (prev. 2.50 Y/Y). Raises its FY26 NII guidance to "approximately" 7.05bln (prev. guided "at least" 6.725bln). (KBC)

Tenaris (TEN IM) - Q2 2026 (EUR): Net Revenue 2.97bln (prev. 3.09bln Y/Y), Operating Income 494mln (prev. 583mln Y/Y), EBITDA 649mln (prev. 733mln Y/Y). Expects sales and EBITDA to remain in line with H1'26. (Tenaris)

BROKER MOVES

Erste Group (EBS AV) upgraded to Outperform from Neutral at Oddo Securities

Generali (G IM) reinitiated with Buy at Citi

SMI

Swisscom (SCMN SW) - H1 2026 (CHF): Revenue 7.22bln (exp. 7.19bln), Net Income 668mln (prev. 625mln Y/Y). Affirms its FY26 guidance. (Swisscom)

Swiss Re (SREN SW) - H1 2026 (USD): Insurance Revenue 8.24bln (exp. 20.33bln), Net Profit 2.83bln (exp. 2.71bln). Q2: Net Profit 1.3bln (exp. 1.2bln). Backs its FY26 view, increases its operating cost reduction target to USD 500mln by 2028 . Appoints Velina Peneva as CEO of L&H Re. In other news, the Co. partners with Baja General Insurance in India and GNP Seguros in Mexico. (Swiss Re)

Zurich Insurance (ZURN SW) - H1 2026 (USD): Net Income 3.5bln (prev. 3.07bln Y/Y), Business Operating Profit 4.77bln (prev. 4.23bln Y/Y), P&C Business Operating Profit 2.81bln (prev. 2.43bln Y/Y), Life Business Operating Profit 1.27bln (prev. 1.03bln Y/Y). Guides FY26 Life BOP "at least" 10% (prev. guided "at least" mid-single digit). Natural catastrophe losses accounted for 1.9ppts of the combined ratio, broadly unchanged compared with the prior year. (Zurich Insurance)

OTHER SWISS COMPANIES

Adecco (ADEN SW) - Q2 2026 (EUR): Net Income 47mln (prev. 58mln Y/Y), Adj.k EBITA 165mln (prev. 141mln Y/Y), Revenue 6.0bln (prev. 5.78bln Y/Y). (Adecco)

Avolta (AVOL SW)- Co. has been awarded a 7-year duty-free contract at Netaji Subhash Chandra Bose International Airport in Kolkata, India; no terms disclosed. (Avolta)

Galenica (GALE SW) - H1 2026 (CHF): Adj. Net Profit 91.9mln (exp. 86.1mln), EBIT 117.7mln (exp. 118.6mln), Revenue 2.14bln (exp. 2.13bln). Affirms FY26 guidance. (Galenica)

BROKER MOVES

Clariant (CLN SW) upgraded to Hold from Underperform at Jefferies

Siegfried (SFZN SW) upgraded to Buy from Hold at Stifel Nicolaus

SCANDINAVIA

BROKER MOVES

Demant (DEMANT DC) downgraded to Hold from Buy at Danske Bank

US

CLOSES: SPX -0.17% at 7,723, NDX -0.83% at 29,488, DJI +0.49% at 54,354, RUT -0.59% at 3,019.

SECTORS: Communication Services -2.38%, Energy -2.03%, Utilities -1.00%, Consumer Discretionary -0.32%, Industrials -0.02%, Consumer Staples +0.05%, Technology +0.02%, Real Estate +0.15%, Financials +0.26%, Health +1.32%, Materials +1.54%.

Sandisk (SNDK) - Sandisk fell 8.5% in afterhours trading after its revenue outlook missed elevated expectations, and pointed to slightly lower margins, outweighing stronger quarterly earnings and data centre growth. Q4 adj. EPS 39.25 (exp. 34.51), Q4 revenue USD 8.97bln (exp. 8.39bln). CEO said Sandisk ended FY26 with a leading technology portfolio, deeper customer relationships and data centre established as a key growth pillar, supporting durable free cash flow generation. Sees Q1 adj. EPS between 44.00-46.00 (exp. 44.21), and Q1 revenue between USD 10.3-10.8bln (exp. 10.62bln).

Western Digital (WDC) - Shares fell 11% in extended trading with reports suggesting that its outlook underwhelmed, despite forecasting earnings and revenue above consensus. Q4 adj. EPS 3.56 (exp. 3.29), Q4 revenue USD 3.75bln (exp. 3.7bln), supported by rising storage demand. CEO said accelerating global data creation and improving business visibility underpin confidence entering FY27. Sees Q1 adj. EPS between 3.85-4.15 (exp. 3.77), Q1 revenue between USD 4.0-4.2bln (exp. 4.04bln), Q1 gross margin between 55-56%.