Additional European Equity News

Crest Nicholson (CRST LN) - H1 2026 (GBP): Revenue 197.6mln (prev. 249.5mln Y/Y), Operating Net -26.2mln (prev. 18.8mln Y/Y), sees FY EBIT at the lower half of the guided GBP 5-15mln range. (Crest Nicholson)DCC (DCC LN) - AGM Statement: Group operating profit on a continuing basis was in line with our expectations and ahead of the prior year. Continues to expect ongoing strategic progress, growth and continued development activity in the year ahead. In other news, the Co. confirms that KKR submitted a further improved proposal at GBP 65.25/shr and agrees to extend the bid deadline through to July 27th. (DCC)Diploma (DPLM LN) - Q3 Trading Update: Organic growth 15%. Raises its FY26 guidance, now sees organic revenue growth of 14% (prev. guided 12% and operating margin of c. 26.5% (prev. guided c. 25%). (Diploma)Experian (EXPN LN) - Q1 Trading Update: Revenue +10%. Backs its FY27 view, sees total revenue growth between 8-11% and organic revenue growth between 6-8%. (Experian)Investor AB (INVEB SS) - Q2 2026 (SEK): Adj. NAV 1.21bln, +9% Q/Q. Listed Companies’ total return 14%. Invested SEK 1.70bln in Electrolux’s rights issue, acquired shares in Nasdaq for SEK 46mln, and entered into an agreement to divest 2mln shares in SEB to maintain our current ownership level. (Investor AB)QinetiQ (QQ/ LN) - Q1 Trading Update: For FY27, Co. continues to expect 3-5% revenue growth, 11-11.5% underlying operating profit margin, 8-10% EPS growth and over 90% cash conversion. Over the FY27-29 period, the Group continues to target over GBP 550mln FCF. (QinetiQ)Ocado (OCDO LN) - H1 2026 (GBP): Revenue 1.04bln (exp. 0.97bln), Group adj. EBITDA 432mln (prev. 92mln Y/Y), Retail EBITDA 73mln (prev. 33mln Y/Y), says that they will turn cash flow positive during H2'26 with FY underlying cash outflow excluding closure fees to be around GBP -200mln in FY26 and full year cash flow positive in FY27. (Ocado)RS Group (RS1 LN) - AGM Statement: The Group has made a solid start to FY 2026/27, with the positive market momentum seen in Q4 FY2025/26 continuing into the first quarter. This, combined with strong execution of our multi-year improvement plan, is delivering good progress across all regions, as we anticipated at the start of the year. (RS Group)SOBI (SOBI SS) - Q2 2026 (SEK):Revenue 7.84bln (exp. 7.30bln, prev. 6.18bln Y/Y), Haematology revenue 5.73mln (prev. 4.57bln Y/Y), Adj. EBITA margin 35% (prev. 34% Y/Y), raises FY26 revenue guidance to "mid-to-high" teens at CER (prev. guided "low double-digit") and adj. EBITA margin to "mid-to-high" 30s percentage of revenue (prev. guided mid 30s). (SOBI)TotalEnergies (TTE FP) - Hydrocarbon production for Q2 is expected to be at nearly 2.4 Mboepd. The impact of the Middle East conflict for the second quarter is around 210 kboepd, which is below the prior guidance of 360 kboepd. This is notably driven by the ramp-up of production in offshore UAE over the course of the quarter and the restart of production in the other countries in the region during June. (TotalEnergies)Vinci (DG FP) - Co. offers EUR 67.30/shr for All for One. (Vinci)B&M (BME LN) upgraded to Hold from Sell at Deutsche BankElisa (ELISA FH) upgraded to Buy from Hold at NordeaHikma (HIK LN) initiated with Buy at CitiKlepierre (LI FP) upgraded to Outperform from Neutral at Oddo SecuritiesRichemont (CFR SW) downgraded to Neutral from Buy at ESN