Additional European Equity News

British American Tobacco (BATS LN) - H1 Trading Update: Affirms FY25 Adj. Op +1.5-2.5%. Says is on track for FY delivery and rev. is slightly ahead of previous guidance. Expects return to both rev. and profit growth in H1 and FY. Highlights that vapour category remains impacted by the proliferation of illicit vapour products in US/Canada. (Newswires) 

Euro Stoxx 50 - Rheinmetall (RHM GY) will replace Kering (KER FP), according to a JPMorgan analyst citing the index compiler, effective June 20. (Bloomberg)

Kier (KIE LN) - Trading Update: Increases op. profit margin target to 4-4.5% in 3-5 years. Continued to trade well in-line with Board expectations. (Newswires) 

Prosus (PRX NA) - Ervin Tu to step down as President and CIO. (Newswires) 

Pandox (PNDXB SS) / Dalata Hotel (DAL LN) - Pandox proposes cash offer of EUR 6.05/shr of Dalata, valuing Co. at about EUR 1.3bln. (Newswires) 

Pennon (PNN LN) - FY24/25 (GBP): Underlying Revenue 1.05bln (prev. 907.8mln Y/Y). (Newswires) 

Wizz Air (WIZZ LN) - May Load Factor 91.2% (prev. 91% Y/Y). Passenger Traffic +10.3% Y/Y. (Newswires) 

Elis (ELIS FP) initiated with Buy at Jefferies