European Movers: Ericsson (ERICB SS) +10.0%, Haleon (HLN LN) +1.6%, Maersk (MAERSKB DC) -3.4%, Babcock (BAB LN) -2.4%, BASF (BAS GY) -1.9%, Chocoladefabriken Lindt & Spruengli (LISN SW) -1.1%

• Ericsson (ERICB SS) - Q4 2025 (SEK): Adj. EBITDA 12.70bln (exp. 10.48bln). Revenue 69.3bln (exp. 66.6bln); mandates a SEK 15bln share buyback. (Newswires)
• Haleon (HLN LN) upgraded to Overweight from Equal Weight at Barclays
• Maersk (MAERSKB DC) downgraded to Underperform from Neutral by Bank of America
• Babcock (BAB LN) - Q3 Trading Update: "With the vast majority of forecast revenue for the year now contracted, we are confident in delivering on the Board's expectations for FY26 trading, including meeting the FY26 margin target of 8%. Should the Indonesian Arrowhead licenses be delivered in year, this should provide upside to current expectations". Announces that CEO David Lockwood is to retire at the end of the calendar year. The Board has chosen Harry Holt, the current CEO of Babcock's Nuclear sector, as his successor. (Babcock)
• Chocoladefabriken Lindt & Spruengli (LISN SW) downgraded to Underweight from Overweight at Barclays
• BASF (BAS GY) - FY (EUR): Sales 59.7bln (exp. 60.7bln), Adj. EBITDA 6.6bln (exp. 6.87bln), EBIT 1.6bln, Net income 1.6bln, FCF 1.3bln. Guidance: FY FCF -600mln. FY adj. EBITDA 6.6bln (exp. 7.35bln). (BASF

Ericsson's strong Q4 performance, exceeding expectations on both EBITDA and revenue, alongside a significant share buyback, reflects robust operational momentum and could support further stock gains. In contrast, BASF's disappointing earnings and lowered guidance indicate underlying challenges in the chemicals sector, likely weighing on investor sentiment and market positioning in that space. The mixed performance across these stocks underscores the divergence in sector health and investor outlook within European equities.