European Equity pre-Market Summary - 22nd September 2026: Futures indicate a slightly firmer cash open; Roche meets primary endpoints

Earnings/Updates: Bureau Veritas (BVI FP), +2.7%: Co. raises its 2027-28 total revenue CAGR to double-digit growth (prev. guided high-single-digit) and narrows its leverage range to 1.5-2x (prev. guided 1-2x). Kingfisher (KGF LN), +2%: Reported H1 26/27 earnings which saw Total Sales match expectations, whilst Adj. Pretax Profit beat. Raised FY26/27 Adj. PBT guidance, and announced an interim dividend of 3.8P/shr. Stories: BASF (BAS GY), Evonik Industries (EVK GY): BASF reportedly explored a potential deal with Evonik earlier in 2026, Dealreporter reports citing sources. Roche (ROP SW), +1%: Co. announces positive Phase II results for dual GLP-1/GIP receptor agonist enicepatide in people living with type 2 diabetes and overweight or obesity, meeting both primary endpoints. Broker Moves: Burberry (BRBY LN), -2% downgraded to Sector Perform from Outperform at RBC. LVMH (MC FP), -1% downgraded to Sector Perform from Outperform at RBC, PT cut to EUR 475 from EUR 575. Ericsson (ERICB SS), -2.1% downgraded to Underweight from Equal Weight at Morgan Stanley.