Additional European Equity News

Persimmon (PSN LN) – FY 2025 (GBP): Revenue 3.75bln (exp. 3.61bln), PBT 397.3mln (prev. 359.1mln Y/Y). 12% increase in completions to 11,905 new homes with growth across all three brands. "Assuming the conflict with Iran and its impact is short, we expect to deliver between 12,000 and 12,500 completions in 2026, with underlying operating profit towards the upper end of current consensus". (Persimmon) 

Rotork (ROR LN) – FY 2025 (GBP): Revenue 777.3mln (prev. 754.4mln Y/Y), Order Intake 782.6mln (prev. 744.3mln Y/Y). The Board is recommending a final dividend of 5.35p per share, resulting in full year dividend growth of 7.1%. CEO: For 2026, we expect continued good momentum in CPI and Water & Power, with our Target Segments and Rotork Service supporting performance across the divisions. In Oil & Gas, we expect a stable performance, with a higher second-half weighting. (Rotork) 

Repsol (REP SM) - Q4 2025 (EUR): EPS 0.64 (exp. 0.49). Sees 2026 production between 560-570k boepd. Plans a EUR 350mln share buyback over H1. FY26-28: Co. targets CFFO 6.5bln. Plans to return EUR 3.6bln in cash, via dividends through 2028.  (Newswires)

Shell (SHEL LN) - Shell agreed to sell Jiffy Lube to Monomoy Capital Partners in a USD 1.3bln deal, WSJ reports. The sale includes the Jiffy Lube brand, franchisee Premium Velocity Auto and a network of stores owned and operated by independent franchisees.

Spirax (SPX LN) – FY 2025 (GBP): Revenue 1.7bln (prev. 1.66bln Y/Y), Op. Profit 265.4mln (prev. 304.6mln Y/Y), Dividend/shr 170p (prev. 165p Y/Y). Restructuring completed with GBP 40mln of annualised savings funding investment in growth. CEO: "Looking ahead to 2026, we anticipate good organic growth and further margin progress as we continue to build on our long track record of value creation through compounding growth and disciplined capital allocation”. (Spirax)

BP (BP/ LN) upgraded to Outperform from Neutral at Santander

Centrica (CNA LN) upgraded to Buy from Neutral at Citi 

Equinor (EQNR NO) upgraded to Neutral from Outperform at Santander

Flutter (FLTR LN) reiterated with Buy at Goldman Sachs  

Nokia (NOKIA FH) downgraded to Hold from Buy at DNB Markets

OMV (OMV AV) downgraded to Neutral from Outperform at Santander 

Shell (SHEL LN) upgraded to Outperform from Neutral at Santander 

Vistry (VTY LN) reiterated with Buy at Goldman Sachs   

Volvo AB (VOLVB SS) initiated with Buy at SpareBank 1

10 Mar 2026 - 07:32- EquitiesEU Research- Source: Newsquawk