Good morning and welcome to Markets Desk, your midday read on what's moving and why.
AXA kicked off European earnings on a strong note, with the French insurer reporting higher first-half net income driven by solid premium growth across its book. Management now sees full-year two thousand twenty six earnings landing at the top end of prior guidance, a signal that underwriting discipline is holding even as macro headwinds persist across the continent.
Shifting to the pharmaceutical space, Neurocrine Biosciences delivered a standout quarter, with revenue surging thirty-nine percent year over year on the back of its flagship drug INGREZZA. The company followed that beat with a raised full-year sales guidance for the treatment, reinforcing investor confidence that the neurological drug franchise still has meaningful runway ahead.
And from the building materials sector, Holcim reported a slight uptick in first-half profit and net sales, though recurring EBIT and operating margins both slipped from a year ago, a sign that input costs and volume pressures are still biting. The Swiss giant nonetheless backed its full-year two thousand twenty six outlook, telling the market the second half is expected to carry more weight.
That's the tape. Markets Desk, signing off the floor.
