European Equity pre-Market Summary - 1st October 2026: European bourses set for a weaker open; Tech gains, taking lead from positive Micron results

Stories: BT Group (BT/A LN): Co. is reportedly being pressed by Epiris to waive payments worth more than GBP 100mln owed by TalkTalk’s wholesale network PXC to Openreach, Sky News reports. (Sky News) Sanofi (SAN FP), +1.2%, Regeneron (REGN): Cos announce an expansion of their longstanding antibody collaboration, adding multiple next-generation, long-acting antibodies. Regeneron will receive an upfront payment of USD 1bln from Sanofi. BBVA (BBVA SM): Co. announces it will pay shareholders EUR 0.37/shr in cash as a gross interim dividend against 2026 earnings. Pandora (PNDORA DC): CEO said they are seeing US demand stabilise at a low level but not seeing it degrade further, citing inflation, high gas prices and a lot of uncertainty. Tech/Chip names (ASML +2% / IFX GY +2.2%): Strength seen across tech names after Micron (MU) reported strong quarterly results and upbeat guidance underscored robust AI-driven memory demand. IPO / M&A: German Defence: KNDS CEO tells Handelsblatt that the IPO has been suspended but not cancelled, with the board asking to be prepared to go public at any time. Lufthansa (LHA GY), Air France-KLM (AF FP): Parpublica says it has received "two improved binding offers" from Lufthansa and Air France-KLM for airline TAP and will prepare a report to assess the merits of each offer. Broker Moves: BP (BP/ LN): upgraded to Overweight from Equal Weight at Wells Fargo Iberdrola (IBE SM), +1.1%: upgraded to Buy from Neutral at Goldman Sachs Pre-market levels via Tradegate