Additional European Equity News

Air France-KLM (AF FP) - Announces measures to improve operational and financial performance; Measures expected to improve operating result by EUR 450mln short term. (Newswires) 

AstraZeneca (AZN LN) - Calquence granted Priority Review in the US for patients with untreated mantle cell lymphoma. (AstraZeneca)

British Land (BLND LN) - Results of placing offer; 69,512,111 new ordinary shares places at 422p/shr. (Newswires) 

Eurazeo (RF FP) - Partners achieves first close of new EUR 250mln Biofund. (Newswires) 

National Grid (NG/ LN) - Updates ahead of HY24/25 update: Group performance in-line with expectations. Underlying EPS is expected to be weighted to H2'24. (Newswires) 

Lanxess (LXS GY) - Co. signs contract to sell Urethane Systems business for an enterprise value of EUR 460mln to UBE Corporation; proceeds will be used to reduce net financial debt

SSP (SSPG LN) - Trading update: FY (GBP): Revenue 3.5bln, +17% Y/Y. Sees FY EBITDA in range of 350-360mln. (Newswires) 

SSE (SSE LN) - Expecting to report HY adj. EPS of more than 45p/shr. First half renewables performance higher than prev. year but in line with expectations. Prev. stated exp. for FY performance remain unchanged (Newswires)

Spirax Sirco (SPX LN) - FY outlook unchanged. (Newswires) 

Tesco (TSCO LN) - H1 (GBP): Pretax Profit 1.39bln (exp. 1.29bln); commits to a GBP 1bln share buyback programme; sees 24/25 retail adjusted operating profit "around" GBP 2.9bln (prev. guided "atleast" GBP 2.8bln)  Sees FCF within medium-term guidance range of GBP 1.40-1.80bln. (Newswires)

BMW (BMW GY) upgraded to Equal Weight from Underweight at Barclays 

Porsche SE (PAH3 GY) downgraded to Underweight from EqualWeight at Barclays