Additional EU equity stories

Amundi (AMUN FP) – Q3 revenue EUR 630mln vs. Exp. EUR 629mln, operating income EUR 307mln vs. Prev. EUR 321mln, net income EUR 235mln vs. Exp. EUR 220mln, AUM EUR 1.6trl. Co notes its posted solid operating performance in results and business activity. (Newswires)

AstraZeneca (AZN LN) – Atacand to be divested in over 70 countries, will not impact FY guidance. (Newswires)

Audi (NSU GY) - Deliveries and revenue significantly lower vs. Prev. and the operating results to be substantially lower but expects this to be clearly positive. (Newswires)

BBVA (BBVA SM) – Q3 revenue EUR 5.66bln, net interest income EUR 4.11bln, net profit EUR 1.14bln, CET1 ratio 11.52%. Maintain recently improved guidance. (Newswires)

BP (BP/ LN) - To halt fuel production in Australia and to convert the Kwinana oil refinery into a fuel import terminal, given Asian competition. (Newswires)

Glencore (GLEN LN) – YTD copper production 934.7k/T, -8%; cobal 21.6k/T, -37%. Confirm FY20 production guidance aside from coal which was adj. for a Cerrjeon strike. (Newswires)

G4S (GFS LN) - CEO remarks they have not seen any mergers that make sense. (Newswires)

IAG (IAG LN) – Q3 operating income EUR -1.3bln vs. Exp. EUR -0.916bln, exceptional charge of EUR 618mln. Agreement reached with the majority of workers at British Airways. Not providing FY guidance. (Newswires)

Julius Baer (BAER SW) - Intending to commence business in China via a local partnership to boost growth in Asia. (Newswires)

Lonza (LONN SW) - Co. has signed an agreement with AstraZeneca (AZN LN) to manufacture AZD7442, a combination of two long-acting antibodies (LAABs) for the potential prevention and treatment of COVID-19. (Lonza)

Natwest (NWG LN) – Q3 total income GBP 2.4bln vs. Exp. GBP 2.7bln, pre-tax profit GBP 355mln vs. Exp. GBP 123mln, CET1 ratio 18.2% vs. Exp. 17.0%, net interest margin 1.65% vs. Exp. 1.51%. FY impairments seen at lower end of range (Newswires)

Novartis (NOVN SW) - Co. has announced that the European Commission (EC) has approved Adakveo (crizanlizumab) for the prevention of recurrent vaso-occlusive crises (VOCs), or pain crises, in patients with sickle cell disease aged 16 years and older. (Novartis)

Sabadell (SAB SM) – Q3 net interest income EUR 841mln, CET1 12.0%, net profit EUR 57mln, revenue EUR 1.16bln, EPS EUR 0.02. (Newswires)

Sunrise Communications (SRCG SW) - Domestic watchdog has approved the takeover by Liberty without conditions. (Newswires)

Total (FP FP) – Q3 net income USD 848mln vs. Exp. USD 571mln, proposing an interim dividend of EUR 0.66/shr U/C vs. Prev. FY20 production expected to be below 2.9mln BOEPD. Will exceed operating cost reduction targets and FY20 net investment will be below USD 13bln. (Newswires)

Novo Nordisk (NOVOB DC) - Q3 revenue DKK 30.927bln vs. Exp. DKK 30.917bln, EBIT DKK 12.808bln vs. Exp. DKK 12.944bln, net DKK 10.3bln vs. prev. DKK 10.6bln. Co. raises FCF outlook. (Newswires) 

ORSTED (ORSTED DC) INITIATED WITH BUY AT JEFFERIES

30 Oct 2020 - 07:03- EquitiesResearch Sheet- Source: Newswires