Additional European Equity News

3i (III LN) - H1 (GBP): Net asset value per share 28.57 (prev. 22.61 Y/Y), total return 3.29bln (prev. 2.05bln Y/Y). CEO: “Year to date LFL trading remains good despite weakening consumer confidence since the summer.” (3i)

Aviva (AV/ LN) - Trading update: Co. is on track to achieve 2026 group targets one year early. To add, co. has announced new three-year group targets and upgraded cost and capital synergies from its Direct Line acquisition. (Aviva)

BP (BP/ LN) - ONGC is reportedly likely to partner with the Co., regarding its planned fuel and oil trading unit, via Reuters citing sources. (Reuters)

Burberry (BRBY LN) - Q2 2025 (GBP) Retail Comp Sales +2% (exp. +0.62%); Revenue 1.03bln (prev. 1.09bln Y/Y). Co. says cost efficiency programme is on track to deliver GBP 80mln in annual savings by end-FY26. SSS flat Y/Y (prev. -20% Y/Y). Restructuring charge GBP 37mln, resulting in reported operating loss GBP 18mln. Strategic progress: Strengthened brand desirability through our Timeless British Luxury expression; accelerated cadence of distinctly British storytelling, creating universally recognisable stories and imagery. Strong customer response to Autumn/Winter 25 collections; initial momentum in Outerwear and Scarves now extending to other categories. Enhanced in-store experience with elevated product displays, cross-category merchandising, and new clientele tools; launched over 100 scarf bars to date and remain on track to deliver 200 by year end. Positive reception to the Summer 26 collection leading to increased demand from opinion-leading wholesale partners. Attracting new customers while welcoming back existing customers to the brand, with sequential improvement in customer growth. Cost efficiency programme on track to deliver GBP 80mln in annualised savings by end of FY26. (Burberry)

Convatec (CTEC LN) - Trading Update: Co. is on track to deliver its FY25 targets and expects to deliver double-digit adj. EPS growth for FY26. (Convatec)  

Generali (G IM) – Generali CFO said BPCE removed breakup fees over asset management deal, adding that Generali and BPCE aim to find a solution on the deal by end-December. (Newswires)

Grafton (GFTU LN) - Trading Update: 10-month revenue at 2.13bln, adds the co. is on track to meet its FY25 adj. operating profit. (Grafton)

FTSE 100 Ex-Dividend – Pershing Square Holdings (PSH LN), Bunzl (BNZL LN), GSK (GSK LN), Shell (SHEL LN), BP (BP/ LN), Coca-Cola Europacific Partners (CCEP LN), Sainsbury’s (SBRY LN) will trade without entitlement to their latest dividend payouts. (dividenddata)

Rolls-Royce (RR/ LN) - Q3 2025 (GBP): Still sees FY FCF between 3.0-3.1bln (exp. 2.93bln). Still sees FY adj. operating profit between 3.1-3.2bln (exp. 3.2bln). Says performance in line with expectations. “Strong performance across the Group, driven by our actions and strategic initiatives, was in line with our expectations. This builds further confidence in our Full Year 2025 guidance of underlying operating profit of between GBP 3.1bln and GBP 3.2bln and free cash flow of between GBP 3.0bln and GBP 3.1bln despite continued supply chain challenges. We are continuing to progress our transformation programme, delivering profitable growth, and further strengthening our balance sheet.” (Rolls-Royce)

Sectra (SECTB SS) - Co. has been awarded a USD 44.1mln contract to deliver cloud services to the US healthcare system. (Sectra)

Spirax (SPX LN) - Trading update: Co. reaffirms its FY25 outlook and is on track for GBP 35mln in annualised savings from restructuring. (Spirax)

United Utilities (UU/ LN) - H1 (GBP): Revenue 1.309bln (exp. 1.305bln), EBITDA 803.7mln (prev. 573.9mln Y/Y), EPS 0.35 (prev. 0.15), confirms FY26 guidance. Co. adds that the plan to invest over 13bln in the North West over the next 5 years is on track. (United Utilities)

Var Energi (VAR NO) - Co. confirms oil in the well near Goliat field, estimates the gross recoverable resources encountered by the well are up to 3mln of oil equivalent. (Newswires)

Wizz Air (WIZZ LN) – H1 (EUR): Operating profit 439.2mln (exp. 367mln). Net profit 323.5mln (prev. 315.2mln Y/Y). Forecast a low-single-digit decline in full-year revenue and said winter capacity was a "short-term challenge. Expects 10% capacity growth Y/Y in FY26 (prev. forecast 20%). (Wizz Air).

13 Nov 2025 - 07:18- EquitiesEU Research- Source: Newsquawk