Additional European Equity News

Anglo American (AAL LN) - FY 2025 (USD): Revenue 18.5bln (prev. 17.7bln Y/Y), Adj. Profit 610mln (exp. 710.8mln), Adj. EBITDA 6.4bln (exp. 6.34bln). Hit with a pre-tax impairment charge of USD 2.3bln relating to De Beers. Also sees USD 1.8bln of run-rate cost savings delivered. (Anglo American)  

Aston Martin (AML LN) - FY 2025 Trading update: Co. expects FY 2025 gross margin of circa 29.5% and adjusted EBIT slightly lower. (Aston Matin) 

AstraZeneca (AZN LN) - Co.’s Calquence (acalabrutinib) in combination with venetoclax has been approved in the US as the first all-oral, fixed-duration regimen for the treatment of adult patients with chronic lymphocytic leukaemia (CLL) and small lymphocytic lymphoma (SLL). (AstraZeneca)   

Bayer (BAYN GY) - Fitch Revises Bayer's Outlook to Negative; Affirms IDR at 'BBB'. (Fitch Ratings)

Danone (BN FP) - CEO says the US unit did not meet the Co.'s expectations. (Danone)

Glencore (GLEN LN) - Co. reportedly nears USD 4bln sale of Kazzinc stake to Kazakh businessman. (Bloomberg)

Kingspan (KRX ID) - FY 2025 Trading update (EUR): Revenue 9.20bln (exp. 9.22bln), profit 955mln (exp. 949mln), EBITDA 1.22bln (exp. 1.20bln). (Kingspan)  

Segro (SGRO LN) - FY 2025 (GBP): adj. EPS 0.36 (prev. 0.35 Y/Y), pretax 509mln (prev. 518mln Y/Y). (Segro) 

Sanofi (SAN FP) - Texas sues the Co. over alleged kickbacks to doctors. (Texas AG)

European Staples upgraded to Neutral from Cautious at Deutsche Bank.

Orange (ORA FP) downgraded to Neutral from Buy at ESN

Segro (SGRO LN) upgraded to Buy from Hold at Shore Capital 

Telia Company (TELIA SS) upgraded to Hold from Buy at Nordea

Telecom Italia (TIT IM) downgraded to Hold from Buy at Deutsche Bank