European Movers: ASML (ASML NA) +2.9%, Tesco (TSCO LN) +2.5%, Entain (ENT LN) +1.7%, STMicroelectronics (STMPA FP) +0.5%, Pernod Ricard (RI FP) -1.4%, easyJet (EZJ LN) -8.3%
Chip Names - TSMC (TSM/2330 TT) reported Q1 net income that beat estimates while raising its Q2 guidance above analyst expectations.
easyJet (EZJ LN) - Trading Update (GBP): easyJet expects to report a headline loss before tax of between GBP 540-560mln for the first half of FY26. Demand across the first half remained positive. The conflict in the Middle East has introduced near-term uncertainty around fuel costs and customer demand. (easyJet)
Entain (ENT LN) - Q1 2026 (GBP): Net revenue 696mln (prev. 657mln Y/Y), iGaming revenue 481mln (prev. 443mln Y/Y), Online Sports 203mln (prev. 194mln), Adj. EBITDA 25mln (prev. 22mln Y/Y). Affirms its 2026 outlook, expects 2026 Adj. EBITDA between 300-350mln and net revenue between 2.9-3.1bln. (Entain)
Pernod Ricard (RI FP) - Q3 2026 (EUR): Revenue 1.95bln (exp. 1.95bln). By region: Americas -8% with the US -12%, Asia-RoW +6% with China -7%, Europe +1%. Sees FY organic net sales -3% to -4% due to the Middle East war. For the medium term, projects organic net sales growth in the range of 3-6% on average. (Pernod Ricard)
Tesco (TSCO LN) - FY 2025 (GBP): Revenue 66.6bln (prev. 63.63bln Y/Y), Adj. EPS 29p (prev. 27.4p Y/Y), Dividend/shr 14.5p (prev. 13.7p Y/Y). Reflecting the increased uncertainty caused by the conflict in the Middle East, Co. provided a wider range of guidance than previously planned, now expecting to deliver adj. operating profit of between GBP 3.0-3.3bln for the FY 2026/27. (Tesco)
The earnings reports from prominent European companies show a mixed bag of performance and outlooks. EasyJet's expected significant loss reflects challenges from geopolitical tensions, while Entain's steady revenue growth affirms its positive trajectory. Meanwhile, Tesco's solid results are tempered by broader economic uncertainties, suggesting cautious market sentiment around consumer-facing sectors in light of recent events.