#D_ADS Oct 20 preliminary Q3 results: Record revenue €7.252 billion (+9% / +7% currency-neutral). Record operating profit €1.008 billion (+37%). Gross margin expanded +2.5 pp to 54.3%. Boosted by strong full-price sales (football, running, training) + ≈ €200 million one-off U.S. tariff refund. Raised full-year 2026 guidance: Operating profit now expected at ≈ €2.5 billion (previously €2.3 billion). Currency-neutral revenue growth still guided at 9–10%. Company plans to reinvest ≈ €100 million in Q4.

#EURGBP Short-term bias is mildly bearish for EURGBP (i.e. pound strength):Near-term range: 0.83–0.85 Consensus by end-2026: around 0.86 (some euro recovery expected later)

#S_MCD Dividend raised (now ~$7.72 annualized, ~3.1–3.2% yield); 50th consecutive annual increase (Dividend King status).