European Stocks Kick Off the Week Higher

ASML reported Q2 2026 net sales of EUR 9.3B, gross margin of 54.0%, and net income of EUR 2.9B. The company guided Q3 2026 sales to EUR 11.0B-12.0B with gross margin of 55%-57%, and full-year 2026 sales to EUR 43B-45B with gross margin of 54%-56%. ASML's demand is driven by AI and China controls, with Installed Base Management sales contributing EUR 2.762B.

Shell updated its third-quarter 2026 gas production forecast to 740,000-780,000 barrels of oil equivalent per day, up from 570,000-630,000. The increase is due to new assets, including ARC Resources. Shell also adjusted upstream and LNG forecasts. Refining margins are expected to improve to $42 per barrel, while chemical margins may decline.

An investigation found BP missed opportunities to prevent the deaths of two brothers at its Ohio refinery. The report, by the U.S. Chemical Safety Board, cited safety lapses. BP has not yet publicly responded to the findings.

Shell (SHEL) forecasts record Q3 refining margins at $42/barrel, up from $24/barrel in Q2, despite a 0.9% share dip due to lower refinery utilization and geopolitical tensions. The company offers a 3.2% dividend yield with a 31% payout ratio and a 7.8% 3-year dividend growth rate. Shell's GF Score is 72/100, indicating strong profitability and financial health, but moderate growth and momentum.

Shell SHEL expects Q3 refining margins to reach a record $42/bbl, up from $24/bbl in Q2, due to market volatility. Refining utilization fell to 95% from 102% due to low Rhine water levels. Shell raised its Q3 integrated gas production outlook to 740K-780K boe/day. Analysts anticipate higher net income consensus expectations and strong cash flow generation.

Shell (SHEL) expects Q3 refining margins to reach a record $42/bbl, up from $24/bbl in Q2, due to geopolitical volatility. The stock fell 0.9% on Wednesday. Analysts praised the outlook, citing higher gas production and favorable market conditions.