Additional European Equity News

Beazley (BEZ LN) / Zurich Insurance (ZURN SW) - Zurich Insurance raises its Beazley bid to GBP 13.35/shr. Zurich and Beazley confirm that they have reached agreement in principle on the key financial terms of a possible recommended cash offer. (Beazley) 

Carlsberg (CARLB DC) - FY 2025 (DKK): Revenue 89.1bln (exp. 89.3bln), adj EBIT 13.4bln (exp. 13,8bln); Guides initial FY26 organic operation at 2-6% Y/Y. Carlsberg says Britvic integration progressing "ahead of plan". Premium beer growth +5% Y/Y. (Carlsberg) 

GSK (GSK LN) - Q4 (GBP): Revenue 8.62bln (exp. 8.42bln), Adj. EPS 0.255 (exp. 0.224), affirms FY26 guidance and 2031 sales outlook Vaccine sales 2.29bln (exp. 2.20bln). Shingrix revenue 1.01bln (exp. 827mln). FY26 guidance: Expect 2026 turnover growth of between 3-5%; Core operating profit growth of between 7-9%; Core EPS growth of between 7-9%. (GSK) 

Henkel Pref (HEN3 GY) - Co. agrees to acquire Stahl Parent for roughly of EUR 2.1bln euros from Stahl Group S.A. (Henkel) 

Peab (PEABB SS) - Q4 (SEK): EPS 2.69 (exp. 2.56), Sales 17.1bln (exp. 16.7bln). CEO: "Peab is entering the new year with a stable order situation and strong financial position". (Peab) 

Prosus (PRX NA) / Amazon (AMZN) - Co. signs a comprehensive three year agreement deal with AWS to scale AI applications across its technology ecosystems in Latin America, Europe and India. (Prosus) 

Lundbeck (HLUNB DC) - Q4 2025 (DKK): Revenue 6.09bln (prev. 5.45bln Y/Y). (Lundbeck)  

Nexans (NEX FP) - Co. is awarded a EUR 600mln seven year contract with Enedia to support the modernization and expansion of the medium-voltage network in France. (Nexan)  

NKT (NKT DC) - Co. announces 10 year solar power agreement with Uniper. (NKT)   

SSE (SSE LN) - Q3 Trading Statement: 2025/26 FY Adj. EPS expected to be between 144 - 152p. Strong networks performance with a two-thirds increase in investment compared to this point last year. (SSE) 

Wartsila (WRT1V FH) - Q4 2025 (EUR): Revenue 2.00bln (exp. 2.1bln), EBIT 256mln (exp. 250mln. (Wartsila) 

Watches of Switzerland (WOSG LN) – Q3 Trading Update: Raises mid-point of FY26 revenue to +9-11% (prev. +6-10%), cuts mid-point of adj. EBIT margin and affirms capex. (Watches of Switzerland)

UPM Kymmeme (UPM FH) - Q4 2025 (EUR): Revenue. 2.31bln (prev. 2.63bln Y/Y), EPS 0.49 (prev. -0.19 Y/Y), Operating profit 390mln (prev. -105mln Y/Y). CEO adds that the Co. is “entering 2026 with some cautious optimism. The business environment at the beginning of the year is showing signs of stability, even if there continue to be uncertainties in geopolitics and trade. We will continue to focus on performance, cash generation, strengthening the balance sheet and successfully completing the strategic portfolio initiatives.”. (UPM Kymmeme) 

Rotork (ROR LN) upgraded to Outperform from Neutral at BNP Paribas

Publicis Groupe (PUB FP) downgraded to Equal Weight from Overweight at Barclays 

Yara (Yara NO) upgraded to Neutral from Sell at Rothschild & Co. 

04 Feb 2026 - 07:02- EquitiesEU Research- Source: Newsquawk