Additional European Equity News

AstraZeneca (AZN LN) - Truqap recommended by FDA Advisory Committee for PTEN-deficient metastatic hormone-sensitive prostate cancer. Elsewhere, The US Food and Drug Administration's (FDA) Oncologic Drugs Advisory Committee (ODAC) did not reach a majority vote in favor of the benefit risk profile of AstraZeneca's camizestrant in combination with a cyclin-dependent kinase (CDK) 4/6 inhibitor (palbociclib, ribociclib or abemaciclib) for the 1st-line treatment of patients with hormone receptor (HR)-positive, HER2-negative advanced breast cancer whose tumours have an emergent ESR1 mutation, based on the SERENA-6 Phase III trial. (AstraZeneca)  

NatWest (NWG LN) - Q1 2026 (GBP): NII 3.39bln (prev. 3.44bln Y/Y), Net Income 1.43bln (exp. 1.32bln, prev. 1.25bln Y/Y), Pretax Op. Profit 2bln (exp. 1.92bln, prev. 1.81bln Y/Y), Revenue 4.36bln (prev. 3.98bln Y/Y); reaffirms outlook. NatWest now expects 2026 income excluding notable items at the top end of GBP 17.2-17.6bln range. CEO: "We have started the year with positive momentum, underpinned by healthy customer activity". Cost Savings: "We have generated over £100 million of additional cost savings in the first quarter". (NatWest)

Pearson (PSON LN) - Q1 2026 (GBP): Underlying Sales 4% Y/Y. All business units performing in line with expectations; continued strong performance in Virtual Learning with underlying sales up 21%, and Assessment & Qualifications expected to return to growth from Q2. Notes that it is on track to deliver 2026 guidance, medium term outlook unchanged. (Pearson) 

Rotork (ROR LN) - Q1 Trading Update: The Group's performance in the period was in line with management expectations. "Whilst we remain mindful of macroeconomic and geopolitical uncertainty, our 2026 outlook is unchanged, and we continue to expect further progress on an OCC basis for the Group in 2026". (Rotork)

Sabadell (SAB SM) - Confirms UK unit acquires TSB Banking Corp for GBP 2.65bln in cash. (Santander) 

Adecco (ADEN SW) downgraded to Neutral from Buy at Citi

Hays (HAYS LN) downgraded to Neutral from Buy at Citi

Randstad (RAND NA) downgraded to Neutral from Buy at Citi