European Movers: Rubis (RUI FP) +2.1%, Wacker Chemie (WCH GY) +1.9%, Technip Energies (TE FP) +1.8%, AstraZeneca (AZN LN) -0.3%, UCB (UCB BB) -2.0%, Ferrexpo (FXPO LN) -5.0%

AstraZeneca (AZN LN) - Co.'s Tozorakimab met primary endpoint in Phase III MIRANDA trial in patients with COPD, demonstrating a statistically significant and clinically meaningful reduction in the annualised rate of moderate-to-severe COPD exacerbations in the primary population of former smokers and in the overall population. (AstraZeneca) 

Ferrexpo (FXPO LN) - Q1 2026 Production Report: Total commercial production 592,751, -72% Y/Y. As previously announced, production activities were largely suspended in Q1 due to nationwide attacks on Ukrainian electricity generation and transmission infrastructure. CEO: “Fortunately in late February we saw sufficient improvements in the availability and price of electricity to restart limited production at FPM on one pellet line. One pellet line remains in operation, and the Group continues to use its own fleet of rail wagons to export to customers in Eastern and Central Europe”. Confirms need for a capital equity raise, likely to need USD 100mln. (Ferrexpo) 

Rubis (RUI FP) - Co. is reportedly exploring the acquisition of Trafigura's Puma Energy, potentially valued at EUR 2.5bln, Bloomberg reports citing sources. (Bloomberg) 

Technip Energies (TE FP) upgraded to Overweight from Underweight at Barclays 

UCB (UCB BB) - Co. to acquire Neurona Therapeutics, advancing its innovative leadership in epilepsy through regenerative science. Total transaction value of up to USD 1.15bln consisting of a USD 650mln upfront payment plus up to USD 500mln in potential future milestone payments. (UCB) 

Wacker Chemie (WCH GY) - Q1 2026 (EUR): Sales 1.41bln (exp. 1.39bln), EBITDA 173mln (exp. 144.3mln). FY Outlook: 550-700mln (exp. 631.2mln). Now expects full-year sales growth in the “high single-digit” percentage range (prev. guided “low single-digit” percentage range). This is due to higher raw material and energy prices being passed on to customers as a result of the conflict in the Middle East. (Wacker Chemie)