European Movers: Fraport (FRA GY) +2.6%, Kone (KNEBV FH) +0.6%, Close Brothers (CBG LN) +0.2%, STMicroelectonics (STMPA FP) -0.7%, Travis Perkins (TPK LN) -1.4%

Close Brothers (CBG LN) - H1 2026 (GBP): Adj. Operating Profit 65.2mln (prev. 80.5mln Y/Y), RoTE 6.3% (prev. 8.7% Y/Y), raises  cost saving target to around GBP 25mln (prev. guided around GBP 20mln) and cutting jobs by around 600 by the end of 2027. (Close Brothers)  

Fraport (FRA GY) - FY2025 (EUR): Net Income 468.1mln (prev. 501.9mln Y/Y), EBITDA 1.44bln (prev. 1.30bln Y/Y), sees 2026 EBITDA around EUR 1.5bln and net profit to decline. (Fraport)

Kone (KNEBV FH) - Co. is in talks to buy TK Elevator, which is a private equity-owned elevator maker, Bloomberg reports citing sources. Kone is working with advisors on a potential cash and stock deal, with TK Elevator's owners seeking a valuation as much as EUR 25bln. (Bloomberg) 

STMicroelectronics (STMPA FP) - STMicroelectronics said it is integrating robotics components into the Nvidia (NVDA) Holoscan Sensor Bridge reference set and adding high-fidelity component models to Nvidia Isaac Sim. (STMicroelectronics)

Travis Perkins (TPK LN) - FY2025 (GBP): Revenue 4.57bln (prev. 4.61bln Y/Y), Adj. Operating Profit 133mln (prev. 152mln Y/Y), the Board is recommending a FY dividend of 12p/shr (prev. 14.5p/shr). The trading environment since the start of the year has remained subdued, reflecting a continuation of the weak UK construction activity figures. (Travis Perkins)

The results from Close Brothers indicate a noticeable decline in operating profit and return on tangible equity, prompting the company to revise its cost-saving target upwards and announce job cuts. Fraport’s earnings report is also a mixed bag, with EBITDA growth but a forecasted drop in net income, reflecting potential challenges ahead. On the contrary, Kone’s potential acquisition of TK Elevator signals strategic expansion, while Travis Perkins continues to struggle amid weak UK construction activity, suggesting a cautious outlook for the sector.