Additional European Equity News

Aberdeen (ABDN LN) - Aberdeen Investments proposed to become manager of Herald Investment Trust in Q3 2026. Fund manager Katie Potts to join Aberdeen bringing deep experience investing across technology, small caps and media. (Aberdeen) 

BAE Systems (BA/ LN) - Trading Update: Strong operational and financial performance so far in 2026. Increased defence spending across all our key markets. Full year guidance maintained.  (BAE Systems) 

Balfour Beatty (BBY LN) - 2026 AGM Update: Balfour Beatty has performed well year to date with the Board continuing to expect high single digit percentage growth in profit from operations from its earnings-based businesses in 2026, and no change to the guidance given at full year results in March. (Balfour Beatty)

Centrica (CNA LN) - Acquires Severn CCGT for around GBP 370mln. (Centrica) 

Hiscox (HSX LN) -  Q1 2026 (USD): GWP 1.72bln (prev. 1.56bln Y/Y). CEO: "Hiscox is building on strong momentum delivered in 2025, through capturing diverse, high-quality growth opportunities across each of our businesses". The outlook for 2026 is positive. (Hiscox) 

Getlink (GET FP) - In April, LeShuttle Freight carried 96,881 trucks, down 2% compared to April 2025. (Getlink) 

JD Sports (JD/ LN) - FY 2025/26 (GBP): Sales 12.66bln (prev. 11.45bln Y/Y), Op. Profit 886mln (prev. 937mln Y/Y). CEO: "Whilst we continue to expect muted market growth in FY27, we remain confident in JD Group's medium‑term trajectory, underpinned by our strong brand partnerships and agile, multi‑brand model". Q1'27 trading update: Organic sales flat YoY and LFL -2.3% to 25 April 2026 (noting Q1 has the lowest sales weighting in our financial year). Announced a new 3‑year cumulative free cash flow target of >£1.4bn over FY26 to FY28, underpinned by profit growth, disciplined capital expenditure and strong working capital management.

IHG (IHG LN) - Q1 2026: Q1 global RevPAR +4.4%, with Americas +3.6%, EMEAA +5.6% and Greater China +5.7%. Confident of achieving consensus growth forecasts and profit expectations. (IHG) 

Maersk (MAERSKB DC) - Q1 2026 (USD): Revenue 12.97bln (prev. 13.32bln Y/Y), EBITDA 1.75bln (prev. 2.71bln Y/Y), PBT 292mln (prev. 1.43bln Y/Y); maintains FY outlook. The Middle East conflict had limited impact on the quarter's  realised financial results. (Maersk) 

Pirelli (PIRC IM) - Pirelli will start producing its Cyber Tyres in the US after the Italian government moved to curb the influence of the tiremaker’s Chinese investor Sinochem, Global Times reports. "Chinese analysts said the move reflects how certain Western markets are broadening the use of security pretexts to subject Chinese companies to unfair scrutiny, warning that such practices will deepen long-term distrust in Europe’s investment environment." (Global Times) 

Shell (SHEL LN) - Q1 2026 (USD): EPS 1.22 (exp. 1.06), Adj. EBITDA 17.7bln (exp. 15.1bln); announces a USD 3bln share buyback and a 5% quarterly dividend increase. Other: Adj. Earnings 6.915bln (prev. 3.256bln Y/Y), CFFO 6.062bln (prev. 9.438bln Y/Y) Cash capex 4.202bln (prev. 6.015bln Y/Y) Free cash flow 2.9bln (prev. 4.2bln Y/Y) Net debt 52.6bln (prev. 45.7bln Y/Y). Gearing 23%, dividend +5% to 0.3906 Capex guide USD 24-26bln FY.  Comments: Q2 2026 outlook reflects lower expected volumes and a weaker margin environment. Q2 2026 production outlook reflects higher planned maintenance across the portfolio. Q2 2026 production and liquefaction outlook reflects the impact of Middle East conflict including Qatar and higher planned maintenance across the portfolio. (Shell) 

S4 Capital (SFOR LN) - Q1 2026 (GBP): Revenue 164.8mln (prev. 178.1mln Y/Y). Full year guidance reiterated. (S4 Capital) 

UniCredit (UCG IM) - UniCredit signs non-binding agreement to divest part of its activities in Russia,  refocusing its operations mainly around international payments. The transition has been structured and shall be executed to ensure continuity and stability for clients and employees. Customers utilising UniCredit’s payment solutions to and from Russia will maintain access to the current set of operations throughout the process. (UniCredit)