European Movers: Hugo Boss (BOSS GY) +6.9%, Wizz Air (WIZZ LN) +2.9%, Porsche (P911 GY) +2.1%, BASF (BAS GY) +0.8%, SAP (SAP GY) -2.7%, Halma (HLMA LN) -10.7%

BASF (BAS GY) upgraded to Buy from Hold at Kepler Cheuvreux

Halma (HLMA LN) - FY 2025/26 (GBP): Revenue 2.58bln (exp. 2.57bln), Adj. EBIT excl. One-Offs 585.2mln (exp. 567.9mln), Adj. EBIT Margin 23.0% (exp. around 22%), guides FY 2027 adj. EBIT margin in line with FY 2026. (Halma)

Hugo Boss (BOSS GY), Frasers (FRAS LN) - Frasers launches a takeover bid for Hugo Boss, offering EUR 38/shr in cash, totalling EUR 1.98bln. (Frasers)

Porsche (P911 GY) upgraded to Buy from Neutral at Goldman Sachs

Wizz Air (WIZZ LN) - FY 2026 Final (GBP): Revenue 5.69bln (prev. 5.28bln Y/Y), EBITDA 1.32bln (prev. 1.13bln Y/Y), not giving guidance for FY27 given the lack of visibility across trading seasons and uncertainty related to the ongoing conflict in Iran and the closure of the Strait of Hormuz. (Wizz Air)