European Movers: InPost (INPST NA) +13.5%, STMicroelectronics (STM FP) +5.7%, UniCredit (UCG IM) +3.2%, WPP (WPP LN) +1.7%, Skanska (SKAB SS) -1.5%, NatWest Group (NWG LN) -3.3%

• Inpost (INPST NA) - Advent, FedEx (FDX), A&R and PPF announce agreement on recommended all-cash offer for all issued and outstanding InPost shares at an offer price of EUR 15.60 per share. The Transaction is expected to complete in H2 2026. (InPost)
• Stellantis (STLAM IM/STLAP FP) - Automotive Cells Company, backed by Stellantis, has dropped plans for gigafactories in Italy and Germany, unions said. Projects in Termoli and Kaiserslautern were shelved after being on standby since May 2024 due to weak EV demand, Reuters reports. ACC will focus on its French plant. (Reuters)
• UniCredit (UCG IM) - Q4 (EUR): Revenue 5.69bln (exp. 5.93bln), Net income 2.17bln (exp. 1.77bln), NII 3.43bln (exp. 3.35bln), Net Fee & Commission Income 2.04bln (exp. 2.07bln). FY25 absorbed 1.4bln extraordinary charges. Sees FY26 net profit around 11bln, to return around 50bln to investors in the next 5 years. (UniCredit)
• WPP (WPP LN) – Co. to overhaul creative agency structure in strategic rethink, according to the FT. (Financial Times)
• Skanska (SKAB SS) downgraded to Hold from Buy by Danske Bank
• NatWest Group (NWG LN) - NatWest announced that it has reached an agreement to acquire Evelyn Partners from funds advised by Permira and Warburg Pincus for GBP 2.7bln enterprise value. Expected to complete Summer 2026. NatWest Group is also announcing a share buyback of GBP 750mln, continuing its strong track record of capital return to shareholders.

InPost's significant share price increase follows the announcement of an all-cash acquisition offer, which suggests strong confidence in its value proposition despite the long completion timeline. Conversely, UniCredit's positive earnings beat, particularly on net income, supports its commitment to return capital to shareholders, enhancing its appeal in the banking sector. Meanwhile, NatWest's planned acquisition and concurrent share buyback reflect robust capital management, although the market reaction to Skanska's downgrade and WPP's restructuring announcement will be crucial for sector sentiment.