European Movers: THG (THG LN) +7.7%, British Land (BLND LN) +2.3%, Volkswagen (VOW3 GY) +0.2%, Kering (KER FP) -0.8%, Beiersdorf (BEI GY) -1.6%, AB Foods (ABF LN) -6.2%

AB Foods (ABF LN) - H1 2026 (GBP): Revenue 9.47bln (prev. 9.51bln Y/Y), Adj. operating profit 0.69bln (prev. 0.84bln Y/Y). Reaffirms FY outlook, with the exception of Sugar, in which now expecting adj. operating loss in 2026. Decided to proceed with the demerger of Primark from its food business. (AB Foods)

British Land (BLND LN) – Trading Update: Strategic delivery driving total accounting returns and upgraded guidance. Expect FY26 Underlying EPS of 28.9p, ahead of guidance. Upgrading FY27 Underlying EPS guidance to at least 30.5p (prev. 30.2p). (British Land) 

Beiersdorf (BEI GY) – Q1 2026 (EUR): Revenue 2.48bln (exp. 2.54bln). Organic Revenue -4.6% Y/Y. Affirms guidance. (Beiersdorf)

Kering (KER FP) downgraded to Hold from Buy at HSBC

THG (THG LN) - Q1 Trading Update (GBP): Total revenue 393mln, +7.0% Y/Y on CCY; Nutrition 160mln, +8.8% Y/Y on CCY; Beauty revenue 233mln, +5.8% on CCY, driven by a strong US performance and 7% order growth in the core UK market, reiterates FY guidance. (THG)

Volkswagen (VOW3 GY) - CEO Blume says the Co. plans to reduce global production capacity by 1mln cars by 2028, stating that overcapacity is not sustainable in the long term. (Spiegel)