Newsquawk Daily European Equity Opening News - 8th May 2026

ASIA

Asia-Pac stocks traded entirely in the red as geopolitical tensions rose, with the US Military and the Iranian Navy exchanging fire. Despite US President Trump announcing that the ceasefire remains in place, bourses failed to see any positivity. ASX 200 opened on the softer side and extended lower, nearly wiping out the gains seen in the past 2 sessions. Real estate and Financials weighed on the index, with Macquarie being dragged down despite reporting FY earnings that beat estimates. Nikkei 225 pulled back from the ATH formed in Thursday’s session amid the negative risk tone. SoftBank has dragged the Nikkei lower after ARM tumbled on smartphone market weakness and AI chip supply concerns. Sony reported FY25/26 earnings, with operating income missing estimates, however announced a JPY 500bln share buyback programme. KOSPI slipped, as investors profit-take following the recent strength in the index, primarily driven by Samsung Electronics and SK Hynix. Shanghai Comp. and Hang Seng followed the broader risk-off tone, as Shanghai Comp. outperformed its Asia-Pac peers with only modest losses.

Sony (6758 JT) - FY25/26 (JPY): Operating Income 1.45tln (exp. 1.56tln, prev. 1.28tln Y/Y), Revenue 12.48tln (prev. 12.03tln Y/Y), guides FY Operating income 1.60tln (exp. 1.63tln), Co. is to buy back up to JPY 500bln of shares. (Sony)

TSMC (TSM/2330 TT) - April (TWD): Revenue 410.7bln, -1.1% M/M and +17.5% Y/Y (prev. +45.2%); YTD Revenue 1.54tln, +29.9% (prev. +35%). (TSMC)

Toyota Motor (7203 JT) - FY25/26 (JPY): Net income 3.85tln (prev. 4.77tln Y/Y), Operating income 3.77tln (prev. 4.80tln Y/Y), Revenue 50.68tln (prev. 48.04tln Y/Y), guides FY operating income 3.00tln (exp. 4.61tln) and FY global auto sales at 11.18mln units. (Toyota Motor)

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.99% at 5,967, Dax 40 -0.99% at 24,672, FTSE 100 -1.55% at 10,277, CAC 40 -1.17% at 8,202, FTSE MIB -0.82% at 49,291, IBEX 35 -0.29% at 18,052, PSI -1.43% at 9,134, SMI -1.11% at 13,135, AEX -1.17% at 1,019

SECTORS: Consumer Discr. +0.73%, Telecom -0.52%, IT -0.53%, Financials -0.75%, Materials -0.84%, Health Care -1.16%, Consumer Staples -1.65%, Utilities -1.71%, Industrials -1.93%, Energy -2.50%

FTSE 100

BP (BP/ LN) - CEO says upstream and downstream reorganization to begin in June; US listing is not a priority. (BP)

Shell (SHEL LN) - CEO says there is real possibility that we see continued bullishness on overall energy prices for next 6-12 months. (Newswires)

UK Politics - In UK local elections, Reform UK has been the clear beneficiary, exceeding 300 gained seats while Labour and the Conservatives suffer, losing 220 and 108 seats respectively, and counting. (Newswires)

OTHER UK COMPANIES

BROKER MOVES

DAX

Commerzbank (CBK GY) - Q1 2026 (EUR): Revenue 3.22bln (exp. 3.24bln), Operating profit 1.36bln (exp. 1.33bln), Net income 910mln (exp. 810mln), NII 2.05bln (prev. 2.07bln Y/Y), CET1 Ratio 14.5% (prev. 15.1% Y/Y). Plans to cut a further 3000 jobs. Raises FY26 Net Income "above" 3.4bln (prev. guided "above" 3.2bln). (Commerzbank)

OTHER GERMAN COMPANIES

Evonik (EVK GY) - Q1 2026 (EUR): Sales 3.43bln (exp. 3.6bln), Adj. EBITDA 475mln (exp. 464.1mln). FY 2026 outlook confirmed amid significant uncertainty. Sees higher demand for certain chemicals due to Middle East supply disruption (Evonik)

BROKER MOVES

CAC

Airbus (AIR FP) - April deliveries of 67 jets; booked 28 gross orders in April. This takes YTD total deliveries to 181 (prev. 192 Y/Y). (Reuters)

OTHER FRENCH COMPANIES

BROKER MOVES

PAN EUROPE

EU/US Trade - US President Trump said a promise was made that the EU would deliver their side of the deal and, as per agreement, cut their tariffs to zero; however, the EU has until the July 4th, or tariffs would immediately jump to higher levels. (Newswires)

Enel (ENEL IM) - Q1 2026 (EUR): Revenue 20.588bln (prev. 22.074bln Y/Y), Ordinary EBITDA 6.003bln (prev. 5.797bln Y/Y), Group net ordinary income 1.941bln (prev. 1.868bln Y/Y), EPS 0.203 (prev. 0.184 Y/Y). 2026 guidance confirmed. (Enel)

Ferrovial (FER SM) - Q1 2026 (EUR): Revenue 2.1bln (exp. 2.1bln), Adj. EBIT 198mln (exp. 195.8mln). "We have started 2026 with strong momentum". (Ferrovial)

Grifols (GRF SM) - Q1 2026 (EUR): Revenue 1.7bln (exp. 1.74bln), Adj. EBITDA 381mln (exp. 392.5mln). After recent refinancing measures, Grifols has no significant debt maturities until October 2028 and maintains a strong liquidity position. (Grifols)

Jardine (JAR SP) - Co. is reportedly considering the sale of its Cycle & Carriage auto dealership, with the unit valued at up to USD 350mln. (Bloomberg)

BROKER MOVES

SMI

Clariant (CLN SW) - Q1 2026 (CHF): Adj. EBITDA 160.2mln (exp. 170mln), Sales 918mln (exp. 980.5mln). "The EBITDA margin of 17.5 % before exceptional items was 130 basis points lower year on year against a strong comparison base, with the Middle East conflict impacting our Catalysts business, in particular". (Clariant)

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Maersk (MAERSKB DC) - Co. tells CNN the increased cost of disruption to global shipping would need to be passed on to customers; expects expenses to increase by half a billion dollars a month from April. (CNN)

BROKER MOVES

Ams-OSRAM (AMS SW) upgraded to Neutral from Underweight at JP Morgan

Swiss Life (SLHN SW) downgraded to Sell from Neutral at UBS

US

CLOSES: SPX -0.38% at 7,337, NDX -0.12% at 28,564, DJI -0.63% at 49,602, RUT -1.63% at 2,840

SECTORS: Materials -1.83%, Energy -1.78%, Industrials -1.62%, Utilities -1.34%, Real Estate -0.96%, Financials -0.57%, Health -0.48%, Consumer Discretionary -0.21%, Consumer Staples -0.14%, Communication Services +0.08%, Technology +0.08%.

CoreWeave (CRWV) - Shares fell 10% in extended US trading after a Q1 profit miss, Q2 revenue guidance which missed expectations, and it raised capex forecasts, with widening losses and heavy debt-funded data centre investment weighing despite its strong revenue growth. Q1 EPS -1.40 (exp. -0.91), Q1 revenue USD 2.08bln (exp. 1.97bln). Revenue backlog reached nearly USD 100bln after the strongest bookings quarter in its history, while active power surpassed 1GW, with the company targeting more than 8GW by 2030. Sees Q2 revenue between USD 2.45-2.6bln (exp. 2.69bln), Q2 operating income between USD 30-90mln, Q2 capex between USD 7-9bln. Backed its FY26 revenue view between USD 12-13bln (exp. 12.53bln) and backed its FY26 operating income view between USD 900mln-1.1bln.

Gilead (GILD) - Gilead shares fell 1% in extended US trading after it issued mixed guidance, despite beating Q1 sales expectations, with strength in HIV drugs failing to offset the weaker earnings outlook and USD 11.5bln charge to be taken in Q2 for acquisitions. Q1 adj. EPS 2.03 (exp. 1.91), Q1 revenue USD 6.96bln (exp. 6.91bln). Biktarvy sales rose 7% to USD 3.36bln, Descovy sales rose 38% to USD 807mln, Yeztugo sales were USD 166mln, liver disease sales rose 1% to USD 767mln, cell therapy sales fell 12% to USD 407mln, and Trodelvy sales rose 37% to USD 402mln. CEO said the Yeztugo launch is going well as clinics work through adoption processes for administering the twice-yearly injection, and it has raised 2026 Yeztugo sales forecast to USD 1bln (from USD 800mln). CFO Andrew Dickinson said Gilead’s earnings forecast would be unchanged, excluding an USD 11.5bln charge to be taken in Q2 for acquisitions. Sees FY26 adj. EPS between -1.05 and -0.65 (exp. 8.65; prev. saw 8.45-8.85) and sees FY26 product sales between USD 30.0-30.4bln (exp. 30.0bln); the reduction to FY26 GAAP and adj. diluted EPS guidance reflects approximately USD 9.50/share of impact from anticipated acquired IPR&D charges of USD 11.5bln, as well as financing costs related to the Arcellx, Ouro Medicines and Tubulis transactions.

IREN Limited (IREN), Nvidia (NVDA) - Iren shares surged by almost 10% in extended US trading after news that Nvidia will invest up to USD 2.1bln in IREN as part of a deal to deploy up to 5 gigawatts of AI infrastructure, Reuters reports. IREN issued Nvidia a 5yr right to buy up to 30mln shares at USD 70.00 each, with future deployments expected at its Sweetwater campus in Texas.

US Trade - The US Trade Court has ruled against President Trump's 10% global tariffs. (Newswires)