Additional European Equity News

Covestro (1COV GY) - Announces that ADNOC has made a takeover offer of EUR 62/shr for the Co.; signed an agreement with ADNOC and supports the takeover offer. Share capital is to increase by 10% on completion of the takeover offer. Decided not to propose a dividend until the transaction has completed. (Newswires) Covestro closed at EUR 55.94/shr. Earlier in the pre-market: UAE's ADNOC nears USD 13bln deal to buy Germany's Covestro, WSJ reports. Sources add that ADNOC is likely to announce the deal as soon as this week, should no unexpected issues arise. (WSJ)

European Banking names - Morgan Stanley downgrades the European banking sector to "in-line" from "attractive"

Greggs (GRG LN) - Q3 trading update: Total sales +10.6% for Q3, +12.7% YTD; On track to open 140-160 net new shops in 2024. FY outlook unchanged. (Newswires) 

Heineken (HEIA NA) - Announced proposed CFO reappointment; to nominate Van Den Broek at its April 2025 AGM. (Newswires)  

Haleon (HLN LN) - Pfizer (PFE) raising gross sale proceeds of approx. GBP 2.43bln from Haleon stake sale. As a result, Pfizer would have sold 701mln of Haleon shares. Pfizer's total interest in Haleon will reduce from approx. 22.6% to 15%. (Newswires) 

Konecranes (KCR FP) - Co. will have three business areas; industrial service and industrial equipment and port solutions. (Newswires) 

Rio Tinto (RIO LN) - And Green Lithium take initial step to develop lithium supply chain commercial partnership; aims to strengthen European battery metals value chain

Skanska (SKAB SS) - Builds new multi-family house in Prague, about SEK 510mln. (Newswires)

Mulberry (MUL LN) - Rejection of possible of offer from Frasers (FRAS LN); says offer does not value possible growth. (Newswires) 

Partners (PGHN SW) - To sell Techem for EV of around EUR 6.7bln; exp. to close in H1'25. (Newswires) 

Acciona (ANA SM) downgraded to Underweight from Equal Weight at Barclays

Naturgy (NTGY SM) upgraded to Equal Weight from Underweight at Barclays

Kering (KER FP) downgraded to Sell at Goldman Sachs 

01 Oct 2024 - 07:10- EquitiesResearch Sheet- Source: Newsquawk