Telenor ASA

Telenor reported second-quarter service revenues of 14.679 billion Norwegian Kroner, a 0.7 percent organic decline, while adjusted EBITDA fell 4.8 percent organically to 7.987 billion Kroner. The company moderated its 2026 outlook, now projecting flat to low-single-digit organic growth in Nordic service revenues, down from a prior low-single-digit forecast, and flat to low-single-digit organic growth in Nordic adjusted EBITDA, revised from low-to-mid-single-digit guidance. Telenor shares last closed at $14.96, down 1.51 percent.

The London stock market closed higher, with the FTSE 100 rebounding. Amid a global sell-off in tech stocks, consumer staples were bought, sending the FTSE 350 Personal Goods index up 2.61%, the Beverages index up 2.36%, and the Retail index up 1.92%. Pharmaceutical giant GSK rose 2.1%, while AstraZeneca gained 0.5%. Automation solutions firm Rotork surged 66.8% after Swiss heavy electrical equipment giant ABB announced its acquisition. European equity markets rose for a third straight session, with the STOXX Europe 600 up 0.16%. The Basic Resources index fell 1.38%, while the Media index climbed 1.43%. Dutch firm ASML Holding rose 3.2%, but STMicroelectronics fell 4.9% and BE Semiconductor dropped 3.2%. Norway's Telenor tumbled 11.6% after lowering its full-year outlook. In eurozone bond markets, the German 10-year yield rose 3 basis points to 3.135%, its highest since May 20. The German-US 10-year yield spread narrowed to 143 basis points. In currencies, the euro traded at 1.1446 dollars, and the dollar at 162.42 yen.