Europe: Forging its own way - BNP Paribas Asset Management - France

• Increased European defense spending is supporting the struggling oil refining sector as geopolitical tensions drive up fuel demand. • VAROPreem CEO reports that this surge in military requirements is propping up a refining industry that has otherwise been shrinking.

• India's finance ministry projected economic growth of 7.3% for the second quarter of fiscal year 2027 in its Monthly Economic Review released Thursday. • The report stated that policymakers must ensure the economy is more competition-friendly rather than just business-friendly to maintain growth.

• S&P Global Ratings raised India's GDP growth projections for the current fiscal year to 7 percent on Wednesday. • Cumulative rainfall was 15 percent below normal as of September 9, 2026, during the current monsoon season.

• New World Development reported a full-year net loss of HK$28.15 billion, a sharp increase from the HK$16.3 billion loss recorded the previous year. • The company's revenue reached HK$19.99 billion, failing to meet the estimated target of HK$26.58 billion.

• Asian equity markets rallied on October 1, led by a surge in Japan's Nikkei 225 and gains in South Korea and Taiwan. • Micron Technology reported that customer financial commitments under long-term supply agreements rose to $32 billion from $22 billion in June.

• Major European stock markets opened mostly higher on Wednesday as investors reviewed new economic reports. • Traders analyzed data including the United Kingdom's GDP report, French inflation figures, and German retail sales.

• Discovery expects its merger to close on October 6 and has named Ynon Kreiz as co-CEO of the combined company. • Paramount Skydance priced USD 41.4 billion and EUR 885 million in senior secured notes alongside USD 8.5 billion and EUR 850 million in Term Loan B financing.

• The S&P/ASX 200 is expected to decline on Thursday, October 1, following a sudden selloff in United States stock markets. • Spain's inflation reached 5%, while France and Italy also reported higher-than-expected price increases.

• The Indian stock market plunged on Thursday, with the Sensex and Nifty 50 indices both falling by more than 1%. • This decline marks the fourth consecutive session of losses driven by massive foreign institutional investor outflows and soaring bond yields.

• Japanese chipmakers saw their stock prices rise following a positive earnings report from U.S.-based Micron Technology. • The rally was driven by increased investor confidence in the artificial intelligence trade after Micron's financial results.

• Singapore led gains among Asian stocks in the third quarter of 2026, while South Korea lagged behind. • The U.S. dollar rose approximately 2% in September, creating a typical headwind for markets across the region.