Additional European Equity News - 11th August 2026

Air Liquide (AI FP) - UK CMA is seeking views on the anticipated acquisition by Vivisol of Air Liquide's home oxygen services business. A formal investigation has not yet been launched. (Gov.uk)

Bellway (BWY LN) - Trading Update: Underlying operating profit is expected to be c. GBP 320mln. Will launch a further GBP 50mln share buyback when current buyback concludes in August. (Bellway)

InterContinental Hotels (IHG LN) - H1 2026 (USD): Revenue 2.66bln (exp. 2.67bln, prev. 2.52bln Y/Y), Operating Profit 671mln (prev. 623mln Y/Y). On track to deliver over USD 1.2bln to shareholders in 2026. CEO: "Trading in the US accelerated in the second quarter, growth in Greater China continued and a good performance elsewhere in our EMEAA region helped offset challenges in the Middle East. We remain on track to meet full year consensus profit and earnings expectations." (IHG)

Lion Finance Group (BGEO LN) - H1 2026 (GEL): Net Profit 1.20bln (prev. 1.03bln Y/Y). Declares a quarterly dividend of 305/shr in Q2, bringing the cumulative H1 dividend to 5.90/shr. Board approves a further GEL 59mln share buyback. (Lion Finance Group)

Norsk Hydro (NHY NO) - Co. announces that Alunorte reduces alumina production to 50% due to natural gas supply disruptions. (Norsk Hydro)

Phillips (PHIA NA), Exor (EXO NA) - Phillips announces that they have agreed to update their long-term agreement with Exor. Exor will be able to increase its shareholding in Phillips to up to 22%. Exor also has the option to further increase its stake subject to approvals. (Phillips)

Spirax (SPX LN) - H1 2026 (GBP): Revenue 863.8mln (prev. 822.2mln Y/Y), Adj. Operating Profit 171.1mln (prev. 158.8mln Y/Y). On track to deliver FY26 guidance. (Spirax)

UBS Group (UBSG SW) - The Swiss government is set to discuss a number of changes to a draft bill to overhaul capital regulations on Tuesday. (Bloomberg)

UniCredit (UCG IM) - Co. has lost its appeal regarding the revaluation of its Bank of Italy shares, amounting to EUR 400mln. (Milano Finanza)

Partners Group (PGHN SW) downgraded to Hold from Buy at Deutsche Bank

Rheinmetall (RHM GY) initiated with Outperform at RBC

Saab (SAABB SS) upgraded to Overweight from Underweight at Barclays