Additional European Equity News

A2A (A2A IM) - Expects to invest EUR 1bln this year ex-M&A, focusing on networks, water and renewable energy according to the CEO via Corriere della Sera. (Newswires)

Babcock (BAB LN) - The UK has offered two Type 23 ships as part of attempts to secure a deal for the Co. to manufacture new frigates/conduct fleet upgrades with the Greek navy. (Times)

Bollore (BOL FP) - H1 revenue EUR 12.8bln vs prev. EUR 11.6bln, net EUR 651mln vs prev. EUR 758mln, adj. operating income EUR 1.32bln vs prev. EUR 0.94bln. Propose an interim dividend of EUR 0.02/shr. (Newswires)

Credit Suisse (CSGN SW) - Chairman Hort-Osorio has purchased CHF 1mln of shares. (Newswires)

DWS (DWS GY) - Former Stability Chief Fixler says the Co. has been struggling to initiate a cohesive ESG strategy, misrepresenting its capabilities to investors in some situations, according to sources citing documents. (Newswires)

Ipsen (IPN FP) - Ipsen and Exicure enter into exclusive collaboration targeting rare neurodegenerative disorders. (Ipsen)

Meggitt (MGGT LN) - Co's directors intend to unanimously recommend the GBP 8.00/shr takeover offer from Parker-Hannifin, considering the terms fair and reasonable. Separately, Meggitt H1: operating profit GBP 49mln vs prev. GBP -348mln, not paying an interim dividend given ongoing market conditions. (Newswires) The acquisition is a premium of approximately 70.5% to the Friday closing price of GBP 4.69/shr.

Renault (RNO FP)  - Entered a five-year strategic partnership with Vulcan on zero-carbon lithium. (Newswires)

Sanne Group (SNN LN) - In advanced discussions with Apex on the group making a possible cash offer at GBP 9.20/shr. (Newswires)

Schaeffler (SHA GY) - CFO Patzak to resign, with immediate effect. (Newswires)

Senior (SNR LN) - H1 revenue GBP 332mln vs exp. GBP 328mln, pretac profit GBP 22.3mln vs exp. GBP -6mln. H1-2021 likely to be slightly stronger than H2-2021 given reduced defence sales; remain confident in delivering a strong recovery over the medium term. (Newswires)

SSE (SSE LN) - To sell its entire 33.3% stake in Scotia Gas Networks to a SGN/Ontario consortium for GBP 1.225bln. (Newswires)

Subsea 7 (SUBC NO) - To acquire a majority interest in Nautilus Floating Solutions. (Newswires)

WM Morrisons (MRW LN) - CD&R is expected to place a counterbid to the GBP 2.54/shr Fortress consortium takeover. Could be announced in the next few days. (Times)

CD PROJEKT (CDR PW) DOWNGRADED TO SELL FROM NEUTRAL AT GOLDMAN SACHS

ILIAD (ILD FP) DOWNGRADED TO HOLD FROM BUY AT HSBC

MTU AERO (MTX GY) DOWNGRADED TO HOLD FROM BUY AT HSBC

RENAULT (RNO FP) UPGRADED TO BUY FROM HOLD AT HSBC

02 Aug 2021 - 07:05- EquitiesEconomic Commentary- Source: Newsquawk