European Movers: Kongsberg Gruppen (KOG NO) +3.2%, STMicroelectronics (STMPA FP) +2.7%, Adidas (ADS GY) +1.7%, Sanofi (SAN FP) -1.1%, Pennon (PNN LN) -1.6%, WH Smith (SMWH LN) -14.6%

Adidas (ADS GY) upgraded to Outperform from Sector Perform at RBC.

Kongsberg Gruppen (KOG NO) - Co. launces its new ambitions: aiming to increase revenue to NOK 100bln in 2029 and 2033 revenue  of NOK 150bln, with an ambition to generate EBIT margin >16%. (Kongsberg Gruppen)

Pennon (PNN LN) - FY 2025/26 (GBP): Revenue 1.29bln (exp. 1.31bln), Pretax profit 114.4mln (exp. 132mln), financial performance will continue to improve through increased revenues and ongoing focus on cost management. (Pennon) 

Sanofi (SAN FP) - Co. has halted the riliprubart MOBILIZE phase 3 study, following an interim analysis determining that the study is unlikely to provide sufficient efficacy. (Sanofi)

STMicroelectronics (STMPA FP) upgraded to Buy from Neutral at BofA

WH Smith (SMWH LN) - Trading Update: Total revenue +5% Y/Y, LFL Revenue +5% Y/Y, cuts FY26 pretax profit guidance to between 75-90mln (prev. guided 90-105mln), files to sell 25mln shares through retail offer. (WH Smith)