Additional European Equity News

AstraZeneca (AZN LN) – FDA accepts Dato-DXD BLA for breast cancer; the application was based on Phase 3 trial results. Additional BLA under review in the US for AstraZeneca and Daiichi Sankyo’s Datapotmab Deruxtecan. Separately, Voydeya has been approved in the US as add-on therapy to ravulizumab or eculizumab for treatment of extravascular haemolysis in adults with the rare disease PNH. (AstraZeneca)

BMPS (BMPS IM) - European commission "take note" of a further 12.5% stake by the Italian government and will "continue to monitor" re-privatisation comments. (Newswires)

Buzzi (BZU IM) - Sees "downside risks" to its core earnings in 2024, but expects to consolidate the unprecedented profits seen last year. (Newswires) 

Food/Beverage Names – Brewer Adnams is reportedly sounding out potential buyers/investors, due to elevated costs and lower demand. (Sky News)

Inchcape (INCH LN) – AutoNation (AN) is reportedly considering a bid for Inchcape’s UK unit, which could be worth around GBP 350mln, according to sources. (Sky News)

Metro Bank (MTRO LN) – BoE is reportedly looking into claims that the Co. placed consumer data at risk via alleged misuse of software for its coin-counter machines. (Guardian)

Neste (NESTE FH) – Major turnaround 2024 at Neste refinery in Finland to begin. After refinery is completed, actual turnaround works will begin in mid-April and expected to continue until mid-May. (Newswires)

Remy Cointreau (RCO FP) - Co. successfully renews and increased its syndicated credit line to EUR 180mln, from EUR 100mln. (Newswires) 

Shein IPO – Co. reportedly doubled its profits to over GBP 1.6bln in 2023, via FT citing sources. (FT) Co. is believed to be considering an IPO in either the UK or US.

Smith & Nephew (SN/ LN) - Co. announce the launch of its RENASYS EDGE Negative Pressure Wound Therapy (NPWT) System in the US as a patient-centric option for treating chronic wounds. (Newswires) 

Vivendi (VIV FP) - Proposed sale of Vivendi's festival and international ticketing activities to CTS Eventim; transaction should be completed in coming months. (Newswires)

UK Housing - UK Nationwide house price Y/Y (Mar) 1.6% vs. Exp. 2.4% (Prev. 1.2%); M/M  -0.2% vs. Exp. 0.3% (Prev. 0.7%). "If [current] trends are maintained, activity is likely to gain momentum, though the pace of the recovery is still likely to be heavily influenced by the trajectory of interest rates." (Nationwide)

Aixtron (AIXA GY) downgraded to Equal Weight from Overweight at Barclays

Air Liquide (AI FP) added to Goldman Sachs' conviction list

Besi (BESI NA) upgraded to Overweight from Equal Weight at Barclays 

BNP Paribas (BNP FP) added to Goldman Sachs' conviction list

JC Decaux (DEC FP) added to Goldman Sachs' conviction list

Rational (RAA GY) downgraded to Equal Weight from Overweight at Barclays

Unibail-Rodamco-Westfield (URW NA) added to Goldman Sachs' conviction list

02 Apr 2024 - 07:39- EquitiesResearch Sheet- Source: Newsquawk