European Movers: Rightmove (RMV LN) +4.2%, Holcim (HOLN SW) +1.0%, Sandoz (SDZ SW) -1.4%, IAG (IAG LN) -1.5%, BASF (BAS GY) -4.2%, Flutter Entertainment (FLTR LN) -9.5%

BASF (BAS GY) - Q4 2025 (EUR): Revenue 14.0bln (exp. 14.04bln), Net profit 560mln (exp. 285mln), EBITDA 1.02bln, sees FY26 Adj. EBITDA between 6.2-7.0bln (exp. 7.22bln). (BASF)

Flutter Entertainment (FLTR LN) - The Co. reported Q4 revenue and earnings that  missed expectations, and issued softer-than-expected 2026 guidance. Q4 adj. EPS 1.74 (exp. 1.57), Q4 revenue USD 4.74bln (exp. 4.85bln). 

Holcim (HOLN SW) – FY 2025 (CHF): Sales 15.7bln (exp. 15.8bln), EPS 0.70 (prev. 2.60 Y/Y), EPS before impairment and divestment 3.22 (prev. 3.07 Y/Y). Proposed dividend of CHF 1.70, not subject to Swiss withholding tax, reflecting a payout ratio of 53%. (Holcim)

IAG (IAG LN) - FY 2025 (EUR): Revenue 33.2bln (exp. 33.3bln), Op. Profit 5.02bln, +13.1% Y/Y, Adj. EPS 0.69/shr, +22.4% Y/Y. Outlook: Revenue growth and earnings growth at high margins and high return on capital. Also, the Co. announced a EUR 1.5bln share buyback. (IAG)

Rightmove (RMV LN) - FY 2025 (GBP): Revenue 425.1mln (prev. 389.9mln Y/Y), Op. Profit 287.9mln (prev. 256.3mln Y/Y). GBP 90mln share buyback announced. (Rightmove) 

Sandoz (SDZ SW) downgraded to Underweight from Equal Weight at Morgan Stanley and downgraded to Hold from Buy at Deutsche Bank.

The earnings reports present a mixed picture for these key European companies. While BASF and IAG delivered better-than-expected profits, Flutter's miss on both revenue and guidance raises concerns about future performance, especially given the significant drop in its stock price. This could lead investors to reassess their positions in the affected sectors, particularly in the volatility of the gaming and chemicals segments.