Additional European Equity News

Assa Abloy (ASSAB SS) – Sells Paca to Kone (KNEBV FH), transaction will have a positive effect on margin ahead. (Newswires)

AstraZeneca (AZN LN) - Positive high-level results from Japan Phase III trial of acoramidis in adults with transthyretin-mediated amyloid cardiomyopathy (ATTR-CM) showed consistency with global ATTRibute-CM Phase III trial. (AstraZeneca)

Athens Airport IPO - Demand has eclipsed EUR 8bln, according to the Greek Privatisation Agency. (Newswires)

CHR Hansen (CHR DC) - Settlement of the combination of Novozymes and Chr. Hansen successfully completed. The name of the combined Co. will be Novonesis. (Newswires) 

Electrolux (ELUXB SS) – Inflation, rates and geopolitics weigh on consumer sentiment in key markets. Proposes no dividend for 2023. Turnaround programme continues, mainly benefitting H2. (Newswires)

Fingerprint Cards (FINGB SS) – Asus laptop launches with Fingerprint’s biometric Match-On-Chip PC solution. (Newswires)

Grifols (GRF SM) – Co. is being investigated by the Portnoy Law Firm regarding possible securities violations. In other news, board agrees that the family should step aside from strategic management, via El Confidencial. (Newswires/El Confidencial)

Trelleborg (TRELB SS) – Q4 (SEK): Adj. EBITDA 1.42bln (exp. 1.40bln), Revenue 8.42bln (exp. 8.43bln). Guides Q1 demand “on par with Q4”. (Newswires)

Mercedes-Benz (MBG GY) - Chinese Market Regulator says Co. to recall 283k imported and domestically-made cars. (Newswires)  

Nestle (NESN SW) – Co. is reducing its focus on infant nutrition and has opened exclusive negotiations with French investment fund FnB for the sale of its baby food products, according to Les Echos. (Les Echos)

Nel (NEL NO) - Realigns relationship with Nikola and plans to support Fortescue on its 80MW Phoenix Hydrogen Hub. (Newswires)

Novartis (NOVN SW) – Sent written notice to Allarity Therapeutics (ALLR) to terminate the license agreement on a material breach for lack of financial payment. (Newswires)

Ryanair (RYA ID) – January: 12.3mln guests, +3%; load factor of 91%. (Newswires)

Wizz Air (WIZZ LN) – January load factor 82% (prev. 86% Y/Y). Passenger traffic +14.2% Y/Y to 4.7mln. (Newswires)

Vinci (DG FP) - Awarded 6-yr contract to dismantle nuclear reactors in Sweden. No terms disclosed. (Newswires) 

Axfood (AXFO SS) downgraded to Hold from Buy at Handelsbanken 

Banco Sabadell (BAB SM) upgraded to Neutral from Underperform at Oddo

Compass Group (CPG LN) downgraded to Neutral from Outperform at BNP Paribas

Julius Baer (BAER SW) upgraded to Buy from Hold at Kepler

Lonza (LONN SW) upgraded to Buy from Hold at Deutsche Bank

SAP (SAP GY) upgraded to Buy from Hold at Jefferies

Schibsted (SCHB NO) upgraded to Buy from Hold at Kepler Cheuvreux

Saga (SAGA LN) downgraded to Hold from Buy at Investec

Volvo Cars (VOLCARB SS) upgraded to Hold from Reduce at Kepler Cheuvreux

Volvo Cars (VOLCARB SS) upgraded to Hold from Sell at Stifel

02 Feb 2024 - 07:05- EquitiesExclusive- Source: Newsquawk