Additional European Equity News

BAE Systems (BA/ LN) - BAE received a USD 181.11mln US Navy contract modification for 31 Amphibious Combat Vehicles, part of a larger deal worth up to USD 3.85bln. (Newswires) 

bp (BP/ LN) - Q2 2025 (USD): Revenue 47.68bln (exp. 41.793bln). Adj. Net Income 2.353bln (exp. 1.811bln). Adj. EPS 0.1503 (exp. 0.1171). Dividend 0.0832 (exp. 0.08). Announces USD 750mln share buyback for Q2. Other metrics: Net debt 26.04bln (exp. 26.42bln). Operating cash flow 6.21bln (exp. 6.15bln). Underlying earnings in customers business are up around 50% compared to a year ago and trading has delivered well quarter-on-quarter during challenging conditions. Delivered around USD 1.7bln of structural cost reductions since the start of programme. Expected proceeds from completed or announced divestments have reached around USD 3bln for the year. Looking ahead, bp expects third quarter 2025 reported upstream production to be slightly lower compared with the second quarter 2025. bp continues to expect reported upstream production to be lower and underlying upstream production to be slightly lower compared with 2024. Within this, bp expects underlying production from oil production & operations to be broadly flat and production from gas & low carbon energy to be lower. (bp) 

Diageo (DGE LN) - FY (USD): Sales 20.24bln (exp. 20.79bln), Adj. Op. Profit 5.70bln (exp. 5.83bln); Outlook for FY26: Expect organic sales to be similar to FY25; are increasing cost saving target by around USD 125-625mln over three years In FY26 will be more weighted to H2, with organic net sales down in H1.

Capita (CPI LN) - H1 (GBP): Revenue 1.15bln, -4% Y/Y. On track to deliver GBP 250mln cost saving program. Confirms outlook. (Newswires) 

Fresnillo (FRES LN) - H1 (USD): Revenue 1.93bln (exp. 1.96bln), Dividend 0.208 (prev. 0.064 Y/Y), Gold Production 313,840oz (prev. 270,972oz Y/Y). Increases 2025 gold production guidance, due to better performance at Herradura.  (Newswires) 

Rational (RAA GY) - Q2 2025 (EUR): Revenue 310mln (prev. 295mln), Gross Profit 183mln (prev. 174mln), PBT 63mln (prev. 61lmln), EPS 0.0557 (prev. 0.0536). (Rational)

Smith & Nephew (SN/ LN) - H1 (USD): Revenue 2.96bln (prev. 2.83bln Y/Y), Op. Income 429mln (prev. 328mln Y/Y). Affirms guidance. (Newswires) 

ThyssenKrupp (TKA GY) - Mitsubishi Heavy (7011 JT) was selected over ThyssenKrupp by the Australian Navy to supply upgraded frigates from 2029, in an AUD 10bln deal. (Newswires)

Travis Perkins (TPK LN) - H1 (GBP): Revenue 2.30bln (exp. 2.34bln). Expects to deliver FY Adj. Op. Profit broadly in line with market expectations. Market outlook for H2 is uncertain. (Newswires) 

Spectris (SXS LN) - KKR agrees to buy Spectris at an increased value of GBP 41.75/shr. (Newswires) 

Lloyds (LLOY LN) upgraded to Buy from Neutral at Goldman Sachs 

05 Aug 2025 - 07:10- ForexEU Research- Source: Newsquawk