Additional European Equity News

AstraZeneca (AZN LN) - Beyfortus approved in China for the prevention of RSV disease in infants. In other news, Positive mention in Barron's; the newspaper said the company was looking much better heading into 2024, and the stock was a buy(AstraZeneca)

BNP Paribas (BNP FP) - Co. settles for up to EUR 600 million in Swiss franc loan case, according to Le Parisien. (Le Parisien)

Bouygues (EN FP) - Completes sale of UK district heating and cooling networks to Swiss Life Asset Managers and Schroders Greencoat LLP consortium. (Newswires) 

Balfour Beatty (BBY LN) - Appointed its corporate brokers to manage an initial tranche of its 2024 share buyback programme. (Newswires) 

Credit Agricole (ACA FP) – Files to sell EUR-denominated perpetual AT1 notes; yield guidance seen in 6.75% area. (Newswires)

Galp Energia (GALP PL) - Co. and its partners initiated drilling campaign in PEL 83, Namibia. (Newswires)  

Iberdrola (IBE SM) – Termination of the merger agreement between Avangrid and PNM Resources, as closing conditions have not been attained. Iberdrola controls 81.5% of Avangrid’s share capital. (Newswires)

Mercedes-Benz (MBG GY) - To continue to pay EV subsidy in 2024. (Newswires) 

Nokia (NOKIA FH) - Q4 and FY23 results, due January 25th, Nokia said it expects to miss FY23 targets due to delayed license renewals in Nokia Technologies. Q4 proved somewhat more challenging than expected given on-going customer spending constraint, but profitability in its networks businesses was expected to remain within the comparable operating margin guidance range, it said, adding that it has seen clearly improving order trends in Q4, particularly in the Network Infrastructure unit. (Nokia/Newswires)

Pharma, Pfizer (PFE), Sanofi (SAN FP), Takeda Pharmaceutical (TAK) - Major pharmaceutical companies like Pfizer, Sanofi, and Takeda intend to increase prices on over 500 drugs in the US in January, Reuters reported citing data by healthcare research firm 3 Axis Advisor. The report adds that the expected price hikes come as the industry gears up for the Biden Administration to publish significantly discounted prices for 10 high-cost drugs in September, and as it continues to contend with higher inflation and manufacturing costs. (Newswires)

Poste Italiane (PST IM) - Italy is considering selling its stakes in the Co., among other firms, according to Economy Minister Giorgetti. (Newswires)

Reckitt (RKT LN) - Reckitt/Mead Johnson Nutrition Voluntarily Recalls Select Batches of Nutramigen Hypoallergenic Infant Formula Powder Because of Possible Health Risk. (FDA) 

Roche (ROG SW) - Co. has agreed to purchase LumiraDX's point of care diagnostics platform for USD 295mln. (Newswires)

Sanofi (SAN FP) - RSV antibody Beyfortus receives approval in China. (Newswires) 

Santander (SAN SM) – Files to sell EUR-denominated 4,6,10-year notes. (Newswires)

THG (THG LN) - Notes still open to constructive dialogue with shareholders and shareholder bodies. (Newswires) 

TotalEnergies (TTE FP) - In Brazil, to start production from the second development phase of the Mero field. (Newswires) 

UBS (UBSG SW) - FINMA Chair says the "question is on the table and must be discussed" when asked about the right to demand bonuses are repaid as part of potential additional powers post-Credit Suisse. (Schweiz am Wochenedne/Newswires)

Valeo (VAL FP) - Appoints Edouard De Pirey as CFO, effective immediately. (Newswires) 

Uniper (UN01 GY) - CEO says Co. favours independence over possible state sale, once Berlin decides how it will reduce its 99% stake. (Boersen)

KBC (KBC BB) upgraded to Outperform from Underperform at Autonomous Research

DNB (DNB NO) downgraded to Underperform from Neutral at Autonomous Research

ING (INGA NA) downgraded to Underperform from Outperform at Autonomous Research

02 Jan 2024 - 06:53- EquitiesResearch Sheet- Source: Newsquawk