Additional European Equity News

Air Liquide (AI FP) - Exclusive negotiations with Safran (SAF FP) for the sale its oxygen and nitrogen aerospace activities. (Newswires)

AstraZeneca (AZN LN) - Discontinuation of the brazikumab inflammatory bowel disease (IBD) development programme, an anti-IL-23 monoclonal antibody, being investigated for the treatment of Crohn’s disease (CD) and ulcerative colitis (UC). Follows a recent review of brazikumab’s development timeline and the context of a competitive landscape that has continued to evolve. The timeline was impacted by delays that could not be mitigated following global events. (AstraZeneca)

Bayer (BAYN GY) - Co. is to acquire an exclusive license from Cedilla Therapeutics which will strengthen Bayer's early pipeline in precision oncology. (Newswires) 

Housing Names - UK Nationwide House Price YY (May) -3.4% vs. Exp. -3.7% (Prev. -2.7%);  -0.1% vs. Exp. 0.1% (Prev. 0.5%, Rev. 0.4%). Headwinds to the UK housing market look set to strengthen in the near term. Relatively soft landing for the housing market remains the most probably outcome. (Newswires)

Pennon (PNN LN) - FY (GBP): adj. Revenue 825mln (exp. 806mln), adj. EPS 0.072 (exp. 0.065), adj. PBT 16mln (exp. 19mln), Dividend 0.427/shr (exp. 0.425/shr). (Newswires)

Richemont (CFR SW)/ Swatch (UHR SW) - Swiss Watch Exports (Apr) +6.8% (Prev. +13.8%). (Newswires)

SAS (SAS SS) - Q2 (SEK) Revenue 8.96bln (exp. 10.35bln), EPS -0.21, Net -1.52bln (exp. -0.89bln), PBT -1.4bln (exp. -1.14bln). Underlying travel demand healthy during quarter. Making progress in Chapter 11 process within the US, looking to complete this in H2. (Newswires)

SBB (SBB SS) - Meets the consolidates coverage ratio. (Newswires)

Skanska (SKAB SS) - Secures zoning rights within Boston for USD 344mln. (Newswires)

UK Homebuilders - UK Nationwide House Price YY (May) -3.4% vs. Exp. -3.7% (Prev. -2.7%);  MM (May) -0.1% vs. Exp. 0.1% (Prev. 0.5%, Rev. 0.4%). Nationwide said headwinds to the UK housing market look set to strengthen in the near term, and a relatively soft landing for the housing market remains the most probably outcome.(Newswires)

01 Jun 2023 - 07:05- EquitiesEconomic Commentary- Source: Newsquwawk