Additional European Equity News

ABB (ABBN SW) – E-mobility raises an additional CHF 325mln from four investors in the second and final round of pre-IPO private placement. (Newswires)

Anglo American (AAL LN) – De Beers diamond cycle: USD 450mln. (Newswires)

BAE Systems (BA/ LN) – Co. has been awarded a US Air Force contract worth around USD 650mln. (Newswires)

Credit Suisse (CSGN SW) - Co.'s private bank has halted margin loans on Adani bonds, according to Bloomberg. (Newswires)

Darktrace (DARK LN) – Commencing a share buyback of up to 35mln ordinary shares, purchased shares will be cancelled. (Newswires)

Equinor (EQNR NO) – Co. has left the Barents Blue project after the agreement period ended. (Newswires)

Entain (ENT LN) - Q4 trading update: Group net gaming revenue +11% Y/Y. Continued growth in active customers in Q4, at record levels, up +14% Y/Y. FY22 Group EBITDA expected to be in the range of GBP 985-995mln, ahead of previous expectations. (Entain)

Getinge (GETIB SS) – Q4 2022 (SEK): Sales 8.5bln (exp. 8.5bln), Net Income 561mln (exp. 899mln), adj. EBIT 1.27bln (exp. 1.25bln). Lower sales volumes, unfavourable mix effects and cost pressures contributed to lower margins for the quarter. FY23 net sales expected +2/5%. (Newswires)

Glencore (GLEN LN) – FY Production: Copper 1.058mln/T, -12% YY; Zinc 938.5k/T, -16% YY; attributable Ferrochrome 1.488mln/T, in-line YY. 2022 production volumes in-line with revised guidance from October 2022. (Newswires)

GSK (GSK LN) - Q4 2022: (GBP): Revenue 7.38bln (exp. 7.04bln). Adj. EPS 0.258 (exp. 0.225). 0.1375p dividend declared for the Q4 2022. No change to expected dividend from GSK of 0.565p/shr for 2023. 2023 Turnover expected to increase between 6% to 8%; Adjusted operating profit expected to increase between 10% to 12%; EPS expected to increase between 12% to 15%. 2023 Guidance at CER and excludes any contribution from COVID-19 solutions. (Newswires/GSK)

Novartis (NOVN SW) - CEO said they are evaluating all M&A opportunities. (Newswires)

Orpea (ORP FP) - Co. reached a deal in principle with creditors, Co. aims to re-establish equal access to information relating to the group between investors. (Newswires)

Orsted (ORSTED DC) – Q4 (DKK): Numbers in-line with prelim. figures. Confirms FY23 guidance. Recommends a dividend of 13.5/shr, +8%. FY23 outlook: adj. EBITDA 20-30bln (exp. 24bln). (Newswires)

Raiffeisen Bank (RBI AT) – Q4 2022 (EUR): Net fee and commission income 1.20bln (prev. 1.12bln). NIM 2.85% (prev. 2.71% Q/Q). NPL Ratio 1.6% (prev. 1.6% Y/Y). (Newswires) 

Rio Tinto's (RIO LN) - The missing radioactive capsule has been found in Australia. (Newswires) 

Roche (ROG SW) - European Commission approves label expansion of Roche’s Hemlibra to include people with moderate haemophilia A in the EU. (Roche)

Severn Trent (SVT LN) – CFO Bowling is to retire in July, Miles appointed as successor. (Newswires)

Software AG (SOW GY) - Co. guides FY23 production between +6-10% Y/Y. EBITDA margin between 16-18%. (Newswires)

UK Housing - UK Nationwide house price Y/Y (Jan) 1.1% vs. Exp. 1.9% (Prev. 2.8%). MM -0.6% vs. Exp. -0.3% (Prev. -0.1%). (Newswires)

Vodafone (VOD LN) – Q3 (EUR): Revenue 329mln, organic service revenue +1.8% (exp. 1.75%), slowdown in the quarterly trend driven by Europe. Confirms FY23 adj. EBITDaL guidance at 15-15.2bln and FCF at 5.1bln. (Newswires)

Asos (ASC LN) upgraded to Hold from Reduce at HSBC

Auto Trader (AUTO LN) downgraded to Neutral from Buy at UBS

Carlsberg (CARLB DC) downgraded to Hold from Buy at Jyske Bank

Hapag-Lloyd (HLAG GY) downgraded to Reduce from Hold at Kepler Cheuvreux

Holmen (HOLMB SS) upgraded to Buy from Hold at DNB Markets

Jupiter Fund Management (JUP LN) downgraded to Hold from Buy at Canaccord

Legal & General (LGEN LN) downgraded to Hold from Buy at Berenberg

Leonardo (LDO IM) downgraded to Neutral from Buy at UBS

M&G (MNG LN) downgraded to Hold from Buy at Berenberg

Nokia (NOKIA FH) downgraded to Neutral from Buy at UBS

Safran (SAF FP) reiterated with Overweight at JPMorgan Chase

Sika (SIKA SW) downgraded to Neutral from Buy at Redburn

Signify (LIGHT NA) reiterated with Overweight at JPMorgan Chase

TeamViewer (TMV GY) downgraded to Underweight from Neutral at JPMorgan Chase

Unicredit (UCG IM) reiterated with Overweight at JPMorgan Chase

Vestas Wind Systems (VWS DC) upgraded to Buy from Hold at Handelsbanken

Voestalpine (VOE AV) downgraded to Hold from Buy at Raiffeisen Bank

Wartsila (WRT1V FH) upgraded to Buy from Hold at Danske Bank

01 Feb 2023 - 07:33- Research Sheet- Source: Newsquawk