Additional European Equity News

Air Liquide (AI FP) - Co. is simplify organization effective from the 1st September. (Newswires) 

Auto Sector - Tesla (TSLA) Q2 deliveries are expected to show a 5.8% drop, according to Bloomberg, as the automaker struggles with older lineup and widespread staff cuts. Analysts expect Tesla to report Q2 EV deliveries of 439,302, which would be a second consecutive quarterly decline.

Casino (CO FP) - Announces the sale of 66 stores for EUR 213mln. (Newswires) 

Deutz (DEZ GY) – Signed a long-term cooperation agreement with India’s Tractors and Farm Equipment. (Newswires) +2.5% in pre-market trade

Endesa (ELE SM) - Madar and Apollo are said to be the final bidders for Co's renewable assets. (Expansion)

Leonardo (LDO IM)/Rheinmetall (RHM GY) - Cos are reportedly in JV talks for an Italian tank. (Il Sole)

Logitech (LOGN SW) - Chairperson Becker is to stand down in 2025. (Newswires)

Richemont (CFR SW) - Co. appointed Louis Ferlaas as CEO of Cartier effective 1st September. (Newswires)

Ryanair (RYA ID) – June traffic hit a record 19.3mln (prev. 17.4mln Y/Y), operated over 106k flights, load factor of 95% (prev. 95% Y/Y). Nearly 400 flights were cancelled in June due to air traffic control delays. (Ryanair)

Sainsbury's (SBRY LN) - Q1 (GBP): Total Sales +4.2%Y/Y (prev. +9.9% in Q1 2023), Grocery 4.8% (prev. 11.0%), Total Retail ex-fuel 2.3% (prev. 9.3%). Co. said volume growth has remained strong as inflation has slowed, despite tough weather comparatives in recent weeks. Sainsbury’s General Merchandise and Clothing performance reflects improvement in clothing trend offset by weaker seasonal general merchandise sales. Argos sales declined against a particularly strong comparative period with significantly lower seasonal sales and weaker Consumer Electronics demand, notably in Gaming. Commenced previously announced GBP 200mln share buyback programme, to be completed in FY24/25. Additionally expect to return at least GBP 250mln to shareholders once the sale of Sainsbury’s Bank’s Core Banking Business to NatWest has completed and the future model for Argos Financial Services is in place. (Sainsbury's IR)

Siemens Energy (ENR GY) - Co. is reportedly looking to hire over 10k new employees as it seeks to invest EUR 1.2bln to boost its electricity grid unit, according to FT. (FT)

Swiss Stocks - China's Vice Premier said China is willing to work with Switzerland to deepen and expand cooperation in economic and trade fields. (Xinhua)

TomTom (TOM2 NA) - Bolt has selected TomTom Traffic to power its ride-hailing and food delivery globally. (Newswires)

Wizz Air (WIZZ LN) - Co. carried 5.3mn passengers in June, For FY25, seat capacity was +0.7% Y/Y to 16.86mln. Co. anticipates that Airbus (AIR FP) revised manufacturing output this year could impact schedule fleet programme in the coming years. (Newswires) 

ASR Nederland (ASRNL NA) downgraded to Neutral from Overweight at JPMorgan

Clariant (CLN SW) initiated Buy at Berenberg (Shares seen +1.4%) 

Hellofresh (HFG GY) removed from the Negative Catalyst watch at JPM, maintained with Neutral

National Grid (NG/ LN) added to Analyst Focus List at JPMorgan

Enel (ENEL IM) resumed with Hold at Stifel

NN Group (NN NA) upgraded to Overweight from Neutral at JPMorgan

02 Jul 2024 - 07:30- EquitiesResearch Sheet- Source: Newsquawk