European Movers: AstraZeneca (AZN LN) +3.4%, Pernod Ricard (RI FP) +2.6%, Monte dei Paschi (BMPS IM) +1.1%, Santander (SAN SM) +0.4%, Novartis (NOVN SW) +0.2%, Banco BPM (BAMI IM) -0.5%
AstraZeneca (AZN LN) - Tozorakimab met primary endpoint in both OBERON and TITANIA Phase III trials in patients with COPD. (AstraZeneca)
Banco BPM (BAMI IM) downgraded to Neutral from Buy at Goldman Sachs
Monte dei Paschi (BMPS IM) initiated with Buy at Goldman Sachs; analysts see synergy benefits following its strategic acquisition of Mediobanca.
Novartis (NOVN SW) – Co. agrees to acquire Excellergy, Inc., building on allergy leadership with next-generation anti-IgE innovation. Novartis will pay up to USD 2 billion in upfront and milestone payments to acquire Excellergy. (Novartis)
Pernod Ricard (RI FP) - Co. confirms that it is in discussions regarding a potential business combination with Brown-Forman. If agreed and subject to customary approvals, this partnership would be akin to a merger of equals. (Pernod Ricard)
Santander (SAN SM) - Co. says it has made a strong start to 2026, with all targets reaffirmed and profit on track to be higher than 2025. "For the first quarter of 2026, we have continued the positive trends of previous years". As a result, co. affirms that it is on track to increase profit in 2026 year-on-year. The total cash dividend per share for 2025 will be EUR 0.24, +14% Y/Y. (Santander)
AstraZeneca's positive trial results for Tozorakimab could enhance its market position in COPD treatments, while Novartis' significant acquisition of Excellergy underlines its commitment to innovation in allergy treatments. Pernod Ricard's potential merger talks with Brown-Forman signal a strategic move in the beverage sector; these developments suggest a potentially bullish outlook for the respective companies involved as investors may react positively to growth-oriented strategies. Meanwhile, Goldman Sachs' downgrade of Banco BPM could weigh on its stock performance amidst the generally favorable sentiment for other EU equities.