Fluidra drops as FX headwinds bite
** Shares in Fluidra 
FDR slide around 4% after the Spanish pool equipment maker reported its second-quarter results and updated full-year guidance on Thursday
** Fluidra narrowed its 2025 guidance for sales, adjusted EBITDA and adjusted EPS, citing strong trading and weaker US dollar
** Jefferies notes that the company's Q2 results were 'decent', showing good organic growth across all regions, but gross and EBITDA margins were below expectations due to foreign exchange headwinds and regional mix effect
** "We note the outlook is an organic upgrade towards the higher end of the prior range, with FX bringing it to the lower end on EBITDA," the broker adds
** Stock pares losses after falling as much as 5.8%
** Stock, at the bottom of Spain's blue chip Ibex 35 index 
IBC, is on track for its worst day since April 2025
** Up to the previous session's close, shares were down 0.2% year-to-date
