European Movers: Remy Cointreau (RCO FP) +9.9%, Autotrader (AUTO LN) +1.7%, Smith & Nephew (SN/ LN) +0.7%, Mitie Group (MTO LN) +0.3%, ASML (ASML NA) -0.6%, UMG (UMG NA) -6.3%

Autotrader (AUTO LN) initiated with Buy at Goldman SachsMitie Group (MTO LN) - FY 2025/26 (GBP): Revenue 5.62bln (exp. 5.65bln, prev. 5.08bln Y/Y), Operating Profit before Other Items 264mln (prev. 234mln Y/Y), Total Order Book 16.3bln (prev. 15.4bln Y/Y), launches new GBP 60mln share buyback programme. Confident in delivering FY25-27 strategic plan. (Mitie Group)Remy Cointreau (RCO FP) - FY 2025/26 final (EUR): Sales 935.3mln (prev. 984.6mln Y/Y), Current Operating Profit 165.4mln (prev. 217mln Y/Y), to propose an ordinary dividend of EUR 0.75/shr. Announces the launch of RC Forward, a three-year transformation plan. Anticipates a return to sustainable organic sales growth in FY 2026/27. Will present medium-term objectives in November 2026. (Remy Cointreau)Smith & Nephew (SN/ LN) downgraded to Hold from Buy at Kepler CheuvreuxUMG (UMG NA)/Pershing Square (PSH LN) - Pershing Square looking to offload 4.7% stake in UMG, looking to sell 80.6mln shares in a range of EUR17.66-18.62/shr. (Bloomberg)