Sep 22, 2026 · 7 min

Kingfisher gains while housing weakness hits Buzzi

Kingfisher Builds, Buzzi Downgrade, UBS Falls

The episode shows how company-specific execution and shifting construction demand are pulling European stocks in opposite directions.

3 key takeaways

1Kingfisher raised its full-year profit outlook after strong performances at Screwfix and in Poland and Spain.
2UBS downgraded Buzzi as weakening US residential construction outweighed support from data-center building.
3UBS shares fell after its CEO warned of softer wealth-management transactions and investment-banking fees.

Don't miss

Kingfisher’s upgraded full-year outlook, supported by Screwfix and operations in Poland and Spain, provides the episode’s clearest positive surprise.

The brief

Kingfisher raised its full-year profit outlook after strong performances at Screwfix and in Poland and Spain, though weaker French businesses limited the breadth of the improvement.

The focus then shifts to Buzzi, where UBS issued a sell downgrade as a sharp pullback in US residential construction outweighed benefits from data-center building.

UBS shares also declined after its CEO warned that wealth-management transactions and investment-banking fees could weaken in the third quarter.

Together, the movers show three different pressures shaping European stocks: retail execution, housing exposure, and the durability of banking-sector fee growth.

What was said on this episode

10 statements · 2 positive · 8 negative

Lizzie Burdenon ScrewfixPositive1:00
Screwfix and Kingfisher's Polish and Spanish operations delivered strong sales.
“seen very strong sales at Screwfix, which is a lot more aimed at kind of professional tradespeople and the operations in Poland and Spain”
Listen at 1:00
Lizzie Burdenon B&Q and Brico DépôtNegative1:13
B&Q and Brico Dépôt in France experienced weakness.
“the weakness has actually come from BNQ and Bricot Depot in France”
Listen at 1:13
Lizzie Burdenon KingfisherNegative2:08
Kingfisher may face obstacles ahead in its markets.
“there might be some obstacles ahead”
Listen at 2:08
Lizzie Burdenon KingfisherPositive2:15
Kingfisher is currently weathering difficult conditions effectively.
“Kingfisher is actually... managing to weather the storm quite well”
Listen at 2:15
Lizzie Burdenon BuzziNegative2:48
US residential construction weakness outweighed data-center construction benefits for Buzzi.
“this pullback in residential was actually far outweighing any benefit that we've seen from data center construction in the US”
Listen at 2:48
Lizzie Burdenon BuzziNegative3:05
Buzzi must purchase CO2 allowances under EU regulation.
“it has to purchase CO2 allowances”
Listen at 3:05
Lizzie Burdenon banking businessNegative3:53
Some parts of the banking business are expected to weaken in the third quarter.
“some parts of the business were kind of going to be weaker over the third quarter”
Listen at 3:53
Lizzie Burdenon industry fee poolNegative3:58
The industry fee pool is expected to weaken in the third quarter.
“the industry fee pool. So that is going to be a bit weaker for the third quarter”
Listen at 3:58
Lizzie Burdenon wealth-management transactionsNegative4:04
Wealth-management transactions are softer than the prior year.
“transactions in wealth management looking a little bit softer compared to last year”
Listen at 4:04
Lizzie Burdenon US banksNegative4:35
US banks may report a weaker upcoming quarter.
“potentially seeing a bit of a weaker quarter coming”
Listen at 4:35

Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.

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