European Movers: Atos (ATO FP) +6.4%, ITV (ITV LN) +5.7%, IMI (IMI LN) +3.4%, Lufthansa (LHA GY) +3.0%, DHL Group (DHL GY) +1.6%, Universal Music Group (UMG NA) -0.6%, Roche (ROG SW) -1.7%, Zealand Pharma (ZEAL DC) -32%

Atos (ATO FP) - FY 2025 (EUR): Revenue 8.0bln (exp. 8.03bln, prev. 9.58bln Y/Y), Net income -1.4bln (prev. 248mln Y/Y), Operating margin 351mln (prev. 199mln Y/Y). Net Income loss mostly included restructuring and other non-recurring charges in relation to the Genesis transformation plan. Co. confirms promising outlook with positive cash generation from 2026 and accelerating in 2027 and 2028. Co. is more focused on a new chapter of AI led growth. Confirmed promising outlook with positive cash generation from 2026 and accelerating in 2027 and 2028. (Atos)

ITV (ITV LN) upgraded to Buy from Hold at Kepler Cheuvreux.

IMI (IMI LN) - FY 2025 (EUR): Revenue 2.3bln (prev. 2.2bln Y/Y), Basic EPS 1.3 (prev. 1.2 Y/Y), Operating profit 460mln (prev. 436mln Y/Y); Co also announced a share buyback, worth up to USD 500mln. Outlook for 2026 is to maintain an efficient balance sheet. (IMI)  

Lufthansa (LHA GY) - FY 2025 (EUR): Revenue 39.6bln (exp. 39.8bln, prev. 37.6bln Y/Y), net income 1.34bln (prev. 1.38bln Y/Y), sees increased forecast uncertainty due to Middle East situation. 2026 Guidance: Sees Adj. EBIT significantly above 2025. Revenue clearly increasing above 2025. Adj. FCF around 0.9bln (prev. 1.19bln Y/Y). Co. says it is considering boosting flights to Singapore, India and China. Sees sharp demand for Asia and Africa routes. (Lufthansa)

DHL Group (DHL GY) upgraded to Buy from Underperform at Bank of America  

Universal Music Group (UMG NA) - FY 2025 (EUR): Revenue 12.5bln (exp. 12.3bln), Adj. EBITDA 2.81bln (exp. 2.8bln). Final dividend/shr proposal of EUR 0.28/shr. Recorded Music top sellers included Taylor Swift, the KPop Demon Hunters soundtrack, Olivia Dean, Stray Kids and Morgan Wallen. (Universal Music Group)

Roche (ROG SW) / Zealand Pharma (ZEAL DC) - Cos announce positive Phase II results for petrelintide, an amylin analog developed for people living with overweight and obesity. Petrelintide achieved up to 10.7% mean body weight reduction at week 42 versus 1.7% with placebo while demonstrating placebo-like tolerability. (Roche / Zealand Pharma)

Zealand Pharma (ZEAL DC) downgraded to Hold from Buy at Nordea

The recent earnings reports and upgrades in several European companies highlight a mix of optimism and caution in the market. Atos is rallying on a promising outlook and AI-led growth despite significant net losses, while upgrades for ITV and DHL signal positive sentiment among analysts. However, concerns regarding Lufthansa's guidance amid geopolitical uncertainty and Zealand Pharma's downgrade suggest that not all sectors are moving in lockstep, indicating potential volatility in sector performance going forward.