Additional European Equity News - 23rd October 2026

ADP (ADP FP) – 9M 2026 (EUR): Revenue 5.1bln (prev. 5.04bln Y/Y). Affirms outlook. (ADP) Crest Nicholson (CRST LN) – Multiple investors have reportedly reduced their exposure to the Co., and including Allianz Trade, the FT reports. (FT) Evoke (EVK LN) - Q3 2026 Trading Update: Revenue 406mln, -7% Y/Y. LFL -2% Y/Y. (Evoke) Fortum (FORTUM FH) - Fortum settled today the voluntary cash tender offer for all issued and outstanding shares in Elmera Group ASA; deal valued at EUR 463mln. (Fortum) Heineken (HEIA NA) – British pubs have reportedly been told to adapt to the booming use of GLP-1 drugs, or risk losing customers and revenue, sources say. (Newswires) Hexagon (HEXAB SS) - Q3 2026 (EUR): Sales 1.05bln (exp. 1.01bln). (Cision) Holcim (HOLN SW) – Q3 2026 (CHF): Recurring EBIT 976mln (prev. 838mln Y/Y), Revenue 4.66bln (exp. 4.53bln). Co. raises FY27 recurring EBIT Organic Growth to 10-12% (prev. guided 10%). (Holcim) Rolls Royce (RR/ LN) – Co. is reportedly nearing a subsidy deal of c. GBP 200mln to fund new aircraft engine development, the FT reports. (FT) Safran (SAF FP) – Q3 2026 (EUR): Adj. Revenue 9bln (exp. 8.99bln), Equipment and Defence Revenue 3.62bln (exp. 3.53bln). Affirms outlook. CEO says “In defence, our activities are benefiting from robust market dynamics, and we are expanding our production capabilities to prepare for future growth”. Plans to double production of engines for missiles in Texas, and double defence revenue between 2025-2030. (Safran) SEB Groupe (SK FP) – 9M 2026 (EUR): Revenue 5.71bln (prev. 5.66bln Y/Y). Affirms outlook. (SEB) Telefonica (TEF SM) - Deployed the IQM Spark quantum compute at Madrid university. (TEF) Telecom Names - SpaceX (SPCX) is reportedly looking to access 80k US cell sites for its wireless network. (Bloomberg) Hermes (RMS FP) downgraded to Hold from Buy at Berenberg Sainsbury (SBRY LN) downgraded to Neutral from Outperform at BNP Paribas Unite (UTG LN) – Co. sells Hawthorne House academy school for EUR 40.7mln. (Unite) Roche (ROP SW) upgraded to Buy from Hold at Deutsche Bank