European Equity pre-Market Summary - 24th September 2026: European equity set to open with losses; H&M reports strong results

Stories: Rio Tinto (RIO LN): Co. is reportedly planning to expand its marketing operations to trade more metals from other producers as well as derivatives, Bloomberg reports. Mercedes-Benz (MBG GY): -0.3%: The Co. plans to save up to EUR 800mln in labour costs, WirtschaftsWoche reports. Siemens Energy (ENR GY): Co. approves the share buyback of up to EUR 2bln, to begin on September 24th. H&M (HMB SS): +3.2%: Reports Q3 metrics, which saw Revenue print in-line, whilst Op. Profit and Net Income topped estimates. Co. sees September sales at +1%. M&A: Schneider Electric (SU FP) -1.2%, Shelly Group (SLYG GY) +7.2%: Co. agrees to acquire Shelly Group for EUR 70/shr. Broker Moves: Segro (SGRO LN) downgraded to Market Perform from Outperform at Societe Generale BMW (BMW GY), -1.2%: downgraded to Hold from Buy at HSBC MTU Aero Engines (MTX GY), +3%: upgraded to Buy from Sell at Citi The numbers after the Co. & ticker are the pre-market indication via Tradegate