Analysis: Stocks

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...

Outokumpu: Q226: stronger…not strong enough though

Earnings/Sales releasesOutokumpu reported a somewhat stronger Q226 performance, with sales increasing by 6.6% to €1.58bn and adjusted EBITDA rising to €100m. However, the recovery remains weaker...

BBVA: Good Set of Results

Earnings/Sales ReleasesThe group posted a good set of results and announced a new €2bn share buyback programme to return the accumulated excess capital. On the other hand, the fine-tuned 2026 RoTE...

JC Decaux: JCDecaux H126 results and outlook: a rather strong performance

Earnings/Sales releases JCDecaux delivered strong H1 2026 results, with adjusted revenues of €1.95bn and Q2 Organic Growth of +5.7% as well. Adjusted operating margin improved to €359m , driving...

Aperam: Q226: in line with expectations, maintaining trajectory towards FY26 forecasts

Earnings/Sales releasesAperam's Q226 results met expectations, with stronger sequential profitability, solid free cash flow , and reduced net debt , supporting confidence in FY26 targets. Management...

Vallourec: Q226 results: in line with limited upside for the time being

Earnings/Sales releasesVallourec’s Q226 results were broadly in line with expectations, with EBITDA slightly above guidance but a tick weaker revenue. The balance sheet strengthened significantly,...

Unibail-Rodamco-Westfield: Leading shopping malls are performing very well.

Earnings/sales releases Operational performance remains very strong, yet FFO-per-share guidance is stable; it is set to decline in FY 26, primarily due to changes in portfolio scope. We are monitoring...

EDP: HY26: EDP lifts 2026 guidance across all three businesses

Earnings/Sales releases EDP is a clear Buy this morning. Recurring EBITDA came in line, up 5% to €2.7bn, and as we expected yesterday off the back of EDPR’s release, EDP has also increased its...

ArcelorMittal: Q226: in line. We may adjust our forecasts a tick upwards.

Earnings/Sales releasesArcelorMittal's Q226 results were broadly in line with expectations, slightly surpassing consensus by 1.3%. Management reaffirmed its medium-term growth outlook, highlighting...

Airbus Group: Strong Q2, but Airbus tempers H2 earnings expectations

Earnings/Sales releases Airbus delivered a strong Q2, with better delivery execution, a broad-based EBIT beat, and stronger cash generation. Commercial aircraft benefited from higher volumes and a...

Davide Campari-Milano: Fewer bets, stronger delivery

Earnings/Sales releases Campari reported strong H1 results, demonstrating broad-based market share gains, an improved product mix, and disciplined SG&A management. This indicates that the “fewer...

Bureau Veritas: Q2 organic growth demonstrates BV's breadth; guidance upgrade partly optical yet justified

Earnings/Sales releases Following a soft start to the year, BV posted encouraging Q2 results, supported by a sequential improvement in Organic Growth despite the Middle East conflict still weighing on...

Hera: HY 26: Earnings in line, but special items cloud comparability

Earnings/Sales releases Hera reported H1 26 in line with our estimates, with adjusted EBITDA up 7.5% to €715.5m, supported by contributions across all business areas. We note that the reported...