Additional European Equity News

Berkeley (BKG LN) - Trading Update (1 Nov 2025 - 28 Feb 2026): Affirmed FY26 pre-tax profit of GBP 450mln and a similar level for FY27. Sales enquiries remain good and the value of underlying reservations has been recovering towards the levels seen over the summer prior to the pre-Budget hiatus. Looking beyond 2027, given the macro conditions, market sentiment and the regulatory delays being experienced, Berkeley will focus on cash generation to maintain a strong balance sheet, the quality of profit in the core business and shareholder returns, while optimising our land holdings and delivering our BTR strategy. (Berkeley) 

BE Semiconductor Industries (BESI NA) - Co. has been fielding takeover interest, Reuters reports citing sources. Working with MS to evaluate approaches. Lam Research (LRCX) and Applied Materials (AMAT) are among the potential suitors. However, the Co. refused to respond to the rumour, stating they are fully committed to the execution of its strategic plan. (Reuters/BESI)

UK Homebuilders / construction - There was another large fall in the construction industry in the latest three months, with continued contraction in housebuilding. (ONS) 

UK GDP -   UK GDP MoM (Jan) M/M 0.0% vs. Exp. 0.2% (Prev. 0.1%, Low. 0.1%, High. 0.3%). (ONS) 

Qiagen (QIA GY) upgraded to Buy from Hold at Deutsche Bank