European equities look set for a rough session, with published research flagging the DAX to open lower and several German names under heavy selling pressure — even as pockets of optimism remain in Iberia.
Analysts attribute the weakness to a mix of soft US inflation data, weak Asian trading, and a broad rotation out of AI-linked stocks. On that theme, researchers point to Infineon and Siemens Energy in the DAX, plus Aixtron, SUSE and Siltronic in the MDAX, as the most exposed near-term underperformers. Trägerwerk is separately expected to open sharply lower after disappointing Q3 numbers hit by high costs.
The contrarian bright spot, according to one strand of recent research, is Symrise: strong results from a key competitor have brought buyers back, and the uptrend is seen as intact.
Zooming out, a constructive cyclical view is making the rounds on Portuguese equities into year-end — supported by GDP upgrades, improving sentiment surveys and fiscal stimulus. Spanish real estate is also framed positively, with housing demand still structurally firm despite slower transactions.