European Movers: Valneva (VLA FP) +5.5%, SAP (SAP GY) +5.5%, Maersk (MAERSKB DC) +1.5%, Aviva (AV/ LN) +0.6%, Stellantis (STLAM IM/STLAP FP) U/C, Valmet (VALMT FH) -0.2%

Valneva (VLA FP) +5.5%: EMA validated Marketing Authorization Application for its Lyme disease vaccine candidate and will begin its assessment of the application. SAP (SAP GY) +5.5%: Citi analysts say Silver Lake's potential interest in acquiring Workday could catalyse interest in EU software stocks. Maersk (MAERSKB DC) +1.5%: Upgraded to Hold from Sell at Nordea Aviva (AV/ LN) +0.6%: H1 Operating figures beat exp.; Confident in 3-year targets. Stellantis (STLAM IM/STLAP FP) U/C: Plans to argue proposed USMCA chances could add billions in annual costs and weaken competitiveness. Valmet (VALMT FH) -0.2%: downgraded to Hold from Buy at SEB