Additional European Equity News

Atos (ATO FP) - Atos’ Board of Directors decided to enter into exclusive negotiations with EPEI for the contemplated Sale of 100% of Tech Foundations for a net cash positive impact of EUR 0.1bln and the transfer of EUR 1.9bln of on-balance sheet liabilities, leading to an enterprise value of EUR 2.0bln. In other news, Paul Saleh to take over as CFO.  (Atos) 

BP (BP/ LN) - Q2 2023 (USD): Revenue 48.5bln (exp. 47.8bln), EPS 0.15 (exp. 0.20), Adj. net 2.59bln (exp. 3.51bln); Co. is to conduct a further USD 1.5bln share buyback (lower than the prior buyback of USD 2.1bln in Q2 and USD 1.75bln in Q1). For the second quarter, bp has announced a dividend per ordinary share of 7.270 cents, an increase of 10%. Expect oil prices in Q3 to be supported by seasonal demand and the OPEC+ production restrictions; Co. expects industry refining margins to remain above historical average levels. In its customers business, bp expects seasonally higher volumes. In refining, bp expects a lower level of turnaround and maintenance activity compared to the second quarter. (Newswires)

Diageo (DGE LN) - FY23 (GBP): Adj. operating profit 5.25bln (exp. 5.33bln) ; Co. raises its dividend by 5% to GBP 0.4917/shr. (Newswires) 

Greggs (GRG LN) - H1 (GBP): PBT 80mln (prev. 55mln YY), Revenue 844mln (prev. 694.5mln YY). (Newswires) 

Fresnillo (FRES LN) - H1 (USD): 351mln (exp. 364.7mln), Revenue 1.34bln (prev. 1.32bln YY) (Newswires)

Man Group (EMG LN) - H1 core PBT 137mln (prev. 395mln), Core Net revenue 513mln (prev. 855mln Y/Y). Net USD 2.60bln (exp. 2.26bln). AUM 151.7bln (exp. 150.3bln). (Newswires) 

Metro Bank (MTRO LN) - H1 2023 (GBP): Assets 21.75bln (prev. 22.56bln Y/Y). Loan to deposit ratio 81% (prev. 75%). CET1 capital ratio 10.4% (prev. 10.6%). (Newswires)

Nexi (NEXI IM) - Engaged in discussions over multi-faceted deal re. RatePay, though the market is not ideal to sell the consumer finance business. (Newswires)

Prosus (PRX NA) - Divests PayU Global Payment Organisation to Rapyd for USD 610mln. (Newswires) 

Saint Gobain (SGO FP) - Divests its fence, railing and decking business in US. (Newswires) 

Travis Perkins (TPK LN) - H1 (GBP): Adj. Op 112mln (prev. 163mln YY), Revenue 2.47bln (prev. 2.54bln YY). Affirms FY23 guidance. (Newswires)

Weir (WEIR LN) - H1 Report: Now expects strong growth in constant currency revenue and operating profit, on track to deliver 17% in FY. Has confidence in meeting 2023 margin and cash conversion. Raises FY23 revenue and profit guidance. 

Uniper (UN01 GY) - H1 (EUR): adj. EBIT 3.7bln (prev. -757mln), adj. Net Income 2.5bln (prev. -490mln). Confirms FY outlook adj. EBIT and adj. Net Profit seen in medium-single-digit bln range. More than 8bln planned investment in green transformation. Installed power generating capacity to be more than 80% zero-carbon by 2030. (Newswires)

Unicredit (UCG IM) - To adopt a one-tier government system. (Newswires)

Heineken (HEIA NA) reiterated with Sector Perform at RBC

Technip Energies (TE FP) reiterated with Sector Perform at RBC

Maersk (MAERSKB DC) downgraded to Sell from Hold at SEB Enskilda

Weir (WEIR LN) reiterated with Overweight at JP Morgan

01 Aug 2023 - 07:36- EquitiesEU Research- Source: Newsquawk