European Movers: WH Smith (SMWH LN) +8.0%, Bayer (BAYN GY) +6.5%, BAE Systems (BA/ LN) +1.8%, ASM International (ASM NA) +1.6%, BMW (BMW GY) -4.9%, Mercedes Benz (MBG GY) -3.7%

• WH Smith (SMWH LN) - Co. named Leo Quinn as Chair; effective Apr 7. (WH Smith) 
• Bayer (BAYN GY) - The U.S. Supreme Court announced that it will review the Durnell Roundup case. The company expects a decision on the merits during the Court’s 2026 session, which ends in June. (Bayer)
• BAE Systems (BA/ LN) / Lockheed Martin (LMT) - Lockheed Martin and BAE Systems were each awarded contracts under the Defense Microelectronics Activity Advanced Technology Support Program V, sharing a USD 25.36bln ceiling. The 10yr ordering period includes a 5yr base and two option periods. Elsewhere, BAE Systems was awarded a USD 204.16mln US Navy contract for maintenance, modernisation and repair of USS Iwo Jima fiscal 2026 Selected Restricted Availability; options could raise the total to USD 255.88mln. (Newswires)
• ASM International (ASM NA) - Q4 (EUR): Revenue 698mln (exp. 654.2mln, prev. guided 630-660mln), Orders 800mln (Q3 indicated 637mln); above consensus orders due to rebound from China. (ASM)
• BMW (BMW GY) downgraded to Hold from Buy at Berenberg. 

WH Smith's share price rose significantly with the announcement of a new Chair, which may boost investor confidence in its leadership. Bayer's shares also gained, buoyed by news from the U.S. Supreme Court that could positively affect its long-term outlook in litigation related to Roundup. Meanwhile, ASM International reported strong quarterly results, reinforcing positive sentiment in the semiconductor sector. In contrast, BMW's downgrade to Hold from Buy suggests potential headwinds, contributing to its share price decline. Overall, this mixed performance highlights sector-specific nuances in the European equities space.