Analysis: Stocks

Ipsen: Another quarterly beat; 2026 guidance upgraded

Earnings/Sales releases Ipsen demonstrated robust performance in Q2, exceeding market expectations, which led to an upgraded 2026 guidance. While we may adjust our estimates upwards, we do not foresee...

Group ADP: H1: Tariff framework drives the valuation

Significant newsADP beat H1 consensus despite another weak traffic print in Paris. Retail held up better than feared, costs were controlled and international assets offset most of the pressure,...

MTU Aero Engines: Cash beats, mix disappoints

Earnings/Sales Releases MTU delivered a positive Q2, with revenue and EBIT ahead of expectations and FCF being the clear highlight. The beat was driven by exceptionally strong commercial MRO activity,...

Bic: Another beat; strategy day now takes center stage

Earnings/sales releases Bic reported Q2 sales, EBIT and EPS comfortably ahead of market expectations, prompting management to upgrade FY26 guidance. While the reported margin beat benefited from a...

Bachem: All eyes on building K

Earnings/Sales releasesBachem released its 1H26 results on 30 July 2026, delivering a strong operating performance for the half. Margins were affected by higher operating expenses and COGS, as...

ARM Holdings plc: Strong AI momentum continues, but execution and valuation remain key watchpoints

Earnings/Sales releasesArm reported a solid start with Q1 27 revenue rising 22% YoY to USD 1.29bn, supported by continued strength in cloud AI, licensing activity, and royalty growth. Management...

Schneider Electric again posts supercharged results

H1 results were stellar for the French electrical equipment maker.

Lloyds Banking Group: New business plan in line with expectations

Earnings/Sales releasesThe second-quarter results were largely in line with expectations, thereby enabling the group to confirm its conservative 2026 RoTE Guidance. The new business plan expects...

Air France-KLM: Strong fuel recapture and disciplined pricing steer a resilient quarter

Significant news Q2 remains in line with the large fuel price impact. Cost discipline and high Fuel Recapture defended the quarter, but it might not last forever. The entire unit revenue gain was...

Klépierre: Strong and stronger

Earnings/Sales releases Despite low indexation, organic revenue growth is accelerating in Q2 26. The balance sheet profile remains the best in the sector in Europe. Fact Organic growth rose from...

Drägerwerk AG & Co KGaA: Q2 26: In line with prelims, but 2030 target enters the frame

Earnings/sales releasesDräger's final Q2 26 results confirmed the preliminary figures released on 13 July. Margins accelerated in both divisions, alongside a meaningful improvement in FCF and net...

Sonae: Q2 26: Sonae decelerates but continues to outperform

Earnings/Sales releases Sonae announced good Q2 26 results, demonstrating the defensiveness of its underlying businesses with good organic growth despite a harder macro environment, resulting in a...

Can Guoquan Food Convert Industry Tailwinds into Lasting Returns?

Guoquan Food Co., Ltd. is benefiting from rising protein consumption, but there is uncertainty around sustaining its margins....

ING Group: Q2: Another beat, guidance upgraded again

Earnings/Sales Releases ING delivered another clean beat: PBT €2.9bn on double-digit NII and fee growth, 17% ROTE and a 49% C/I as jaws widened to 8pp. The cost of risk stayed low at 15bp and CET1...

TECOM's Profits Rise as Commercial Leasing Segment Stays Strong

Beyond macro support, sustained earnings delivery is the next test.

DSM-Firmenich: Volume inflection validated the strategy

Earnings/Sales releasesThe company reported a strong H1 performance, driven by volume-led growth across all three divisions, with sequential margin improvements. Management expressed confidence in H2...

Amundi: Continued Momentum

Significant news After a strong first quarter, Amundi delivered another solid performance with a 15% net profit beat. This outperformance was propelled by a surge in Assets under Management ,...

Segro: Offer-driven stock price

Earnings/Sales releases The key figures for the first half of 2026 had already been released a few days ago, and there are no material deviations. End markets continue to soften gradually, yet Segro...

Informa: A good half-year performance despite some Middle East disruption

Earnings/Sales releases Informa delivered consensus-beating H1 results and increased Share Buybacks for 2026. The disruptions in the Middle East are real, but the group is cleverly mitigating these...