European Movers: Telefonica (TEF SM) +5.2%, ASML (ASML NA) +1%, National Grid (NG/ LN) +1.3%, Burberry (BRBY LN) -4.5%

Burberry (BRBY LN) - Q4 2026 (GBP): Revenue 2.42bln (prev. 2.46bln Y/Y), Adj. Op. Profit 160mln (prev. 26mln Y/Y). Retail comp sales +5% (exp. +4.6%). (Burberry)

National Grid (NG/ LN) - FY 2025/26 (GBP): Group Underlying Profit 5.68bln (prev. 5.22bln Y/Y), Underlying EPS 0.78 (prev. 0.73 Y/Y), Capital Investment 11.6bln (prev. 9.8bln). CEO: "We have delivered strong financial performance...setting the foundation to deliver compound annual growth rates across our five-year financial framework of around 10% asset growth and 8-10% underlying EPS growth." (National Grid)

Telefonica (TEF SM) - Q1 2026 (EUR): Revenue 8.13bln (exp. 8.14bln), Adj. EBITDA 2.84bln (prev. 2.80bln Y/Y), Operating Income 1.12bln (prev. 1.12bln Y/Y), affirms FY26 guidance and confirms EUR 0.15 dividend/shr in cash. Revenue grew 0.8% Y/Y, driven by the +1.1% Y/Y increase in service revenue, partially offsetting the -2.4% decrease in handset sales. (Telefonica)

ASML (ASML NA) / Chip - Companies react to reports that US approved around 10 Chinese firms to buy NVIDIA (NVDA) H200 chips.