** Shares of Endesa ELE.MC fall 3% after the company confirmed its full-year guidance, with one-off items helping it beat first-quarter profit expectations

** "It was a strong quarter for Endesa on a headline basis, but once adjusted for positive one-off from resettlements from past year revenues and seasonality effects in networks, performance was broadly in line with expectations" says J.P.Morgan

** Net profit in the quarter rose to 725 million euros from 583 million a year earlier, beating the 620 million expected by analysts in a LSEG poll

** JPM says it would not rule out some profit-taking, with shares up 23.6% YTD up to yesterday's close

** It adds that comments on the conference call suggest underlying trends for 2026 remain in line with previous management expectations on balance

** The shares are at the bottom of Madrid's IBEX35 index .IBEX, which rises 0.1%