Additional European Equity News

Balfour Beatty (BBY LN) – FY 2025 (GBP): Adj. Pretax 291mln (exp. 282mln), Adj. Revenue 10.8bln (exp. 9.89bln). Announces a GBP 200mln share buyback. (Balfour Beatty) 

BMPS (BMPS IM) / Mediobanca (MB IM) - Co's have approved a merger plan under which Mediobanca will be incorporated into BMPS, with Mediobanca shareholders receiving 2.450 BMPS shares for each Mediobanca share. BMPS will issue up to 272.0mln new shares (around EUR 1.61bln capital increase) to complete the exchange, and the merger—subject to regulatory approvals, shareholder votes, and other conditions—is expected to be completed by the end of 2026, with anticipated integration synergies of about EUR 0.7bln. (BMPS / Mediobanca)

CVC Capital Partners (CVC NA) - FY 2025 (EUR): AuM 205bln, Management fees 1.5bln, +9% Y/Y. CEO: "We continued to scale our Credit, Secondaries and Infrastructure platforms, which now comprise over half our Fee-Paying AUM, and we are seeing very encouraging momentum in Private Wealth and Insurance". (CVC Capital Partners) 

Canal+ (CAN LN) - FY 2025 (EUR): Revenue 6.95bln (exp. 6.51bln), Adj. EBIT 527mln (prev. guided 515mln). Outlook: On Revenue, we expect to see moderate organic growth, following a similar trend to 2025. On Adjusted EBIT before exceptional items, we expect an increase from EUR 542mln in 2025 to EUR 565mln. Additionally, Co. and Google (GOOGL) Cloud have formed a strategic partnership relating to AI. (Canal+)

Drax (DRX LN) - Co. provisionally secured agreements to provide a total of 434mw of capacity. (Drax)

Gerresheimer (GXI GY) -  Publication of the 2025 annual and consolidated financial statements has been delayed, because the ongoing investigations by a second external auditing firm into business transactions in financial years 2024 and 2025 and the preparation of the documents required for the audit are taking longer than expected. The delay in the publication of the 2025 annual and consolidated financial statements is expected to result in the exclusion of Gerresheimer shares from the SDAX index of Deutsche Börse AG. (Gerresheimer)

Legal & General (LGEN LN) – FY 2025 (GBP): Core Op. Profit 1.62bln, +9% Y/Y, AuM 1.2tln. Announces a EUR 1.2bln share buyback. (Legal & General)

Skanska (SKAB SS) - Co. to build pedestrian bridge in the US for USD 102mln. (Skanska) 

Aston Martin (AML LN) downgraded to Market Perform from Outperform at Bernstein 

Delivery Hero (DHER GY) downgraded to Underperform from Neutral at Bank of America

DSM-Firmenich (DSFIR NA) downgraded to Neutral from Buy at Kempen

Next (NXT LN) upgraded to Buy from Hold at Shore Capital 

Novo Nordisk (NOVOB DC) initiated with Outperform at Santander 

Givaudan (GIVN SW) downgraded to Sell from Neutral at Kempen

Rentokil (RTO LN) upgraded to Neutral from Sell at Rothschild 

Repsol (REP SM) reiterated with Buy at Goldman Sachs 

11 Mar 2026 - 07:10- ForexEU Research- Source: Newsquawk