European Movers: BASF (BAS GY) +2.1%, ASML (ASML NA) +1.1%, Kingfisher (KGF LN) +0.9%, Akzo Nobel (AKZA NA) +0.3%, Bayer (BAYN GY) -1.5%, SAP (SAP GY) -2.4%
Akzo Nobel (AKZA NA) downgraded to Hold from Buy at Deutsche Bank
ASML (ASML NA) - SK Hynix (000660 SK) is investing around KRW 11.95trln (c. EUR 6.9bln) over two years through 2027 to acquire additional EUV lithography equipment from ASML, aiming to expand advanced memory production—particularly HBM and next-generation DRAM—amid rising AI-driven demand. (The Chosun Daily)
BASF (BAS GY) upgraded to Buy from Hold at Deutsche Bank
Bayer (BAYN GY) - Activist investor Inclusive Capital Partners is seeking to sell about 8.5mln Bayer shares in a placing arranged by JPMorgan, according to terms seen by Bloomberg. The stake is worth about EUR 327mln, based on Bayerʼs closing price on Monday. (Bloomberg)
Kingfisher (KGF LN) - FY 2025 (GBP): Revenue 13bln (exp. 12.9bln), Underlying LFL Sales +1.4% Y/Y. Announcing full year dividend of 12.40p per share. Commencement of new GBP 300m share buyback programme. FY 26/27 guidance: Adjusted PBT of GBP 565- 625mln and free cash flow of 450-510mln. (Kingfisher)
SAP (SAP GY) downgraded to Neutral from Overweight at JP Morgan
BASF's upgrade to "Buy" from "Hold" suggests increased confidence in its growth prospects, potentially driving its stock higher. In contrast, Bayer's activist investor maneuver implies potential volatility, as the significant share sale could impact market sentiment. Meanwhile, SAP's downgrade reflects a cautious outlook, which may weigh on its stock performance.