Additional European Equity News

Assa Abloy (ASSAB SS) - Acquires Premier Steel Doors and Frames in the US; to be EPS accretive from start. (Newswires) 

Boohoo (BOO LN) - Repays GBP 50mln of GBP 97mln term loan. Repayment will be made with funds raised from placing. (Newswires) 

Covivo (COV GY) - Co. and Accorinvest finalise consolidation deal ownership for a total exchange value of almost EUR 800mln. (Newswires) 

Covestro (1COV GY) - ADNOC says takeover offer for the Co. successful; circa 70% acceptance. Bidder intends to announce final result of offer after acceptance period on Dec 19, 2024. (Newswires) 

Delivery Hero (DHER GY) - Glovo decides to move to an employment-based model for delivery riders in Spain and expects to receive reclassification decisions in Spain. The model change is expected to impact EUR 100mln on adjusted EBITDA for FY 2025. Confirms FY 2024 guidance. The company expects to increase overall contingency to EUR 440–770mln in its 2024 full-year financial report, up from EUR 330–550mln already disclosed in its 2024 half-year financial report. (Newswires) 

Ipsos (IPS FP) - Information relating to a potential acquisition of Kantar Media; to communicate if discussions materialise. Says no certainty if any offer will be made. (Newswires) 

NKT (NKT DC) - Updates mid-term ambition; op. EBITDA ambition for 2028 is updated to above EUR 700mln (prev. above EUR 550mln). (Newswires)  

Siemens (SIE GY) - Closes acquisition of Danfoss Fire Safety. (Newswires) 

Telefonica (TEF SM)/Vodafone (VOD LN) - Ortega's Pontegadea reportedly intends to bid for a stake in fiberco, a JV telecom firm from Telefonica and Vodafone. (Expansion)

UK Housing - UK Nationwide house price yy (Nov) 3.7% vs. Exp. 2.4% (Prev. 2.4%); MM (Nov) 1.2% vs. Exp. 0.2% (Prev. 0.1%)

UniCredit (UCG IM) - Corriere della Sera writes that the UniCredit CEO will wait until the release of Banco BPM's (BAMI IM) results and the outcome of the bid for Anima Holdings (ANIM IM) expected in March, before improving the terms of its offer for Banco BPM. (Corriere della Sera)

Burberry (BRBY LN) upgraded to Buy from Hold at Deutsche Bank 

BASF (BAS GY) upgraded to Buy from Hold at Deutsche Bank 

K+S (SDF GY) downgraded to Sell from Hold at Deutsche Bank 

Inditex (ITX SM) upgraded to Hold from Sell at Deutsche Bank 

Goldman Sachs conviction list - Adds: Flughafen Zuerich (FHZN SW); Removes: Air Liquide (AI FP), JC Decaux (DEC FP).

Persimmon (PSN LN) downgraded to Underperform from Sectorperform at RBC

02 Dec 2024 - 07:10- EquitiesResearch Sheet- Source: Newsquawk