Additional European Equity News

A.P. Moeller-Maersk (MAERSK DC) - Q3 (USD): EBITDA 1.9bln (exp. 1.81bln), EBIT 538mln (exp. 653mln), EPS 31 (exp. 28). Sees global container volume growth of -2% to -0.5% (prev. guided -4% to -1%). Ocean expects to grow in-line with the market. Since summer, seen overcapacity in most regions triggering price drops and no noticeable uptick in ship recycling/idling. Chinese consumers remain hesitant with confidence low and high youth unemployment and economic uncertainty. Total cost savings of 600mln in 2024. To cut around 10k jobs. Restructuring costs increased to 350mln (prev. 150mln), majority recognised in 2023. FY23 Guidance: EBITDA lower-end of 9.5-11.0bln (exp. 10.1bln). EBIT 3.5-5.0bln (exp. 4.1bln). Initiates fifth DKK 11bln tranche buy-back programme. (Newswires)

Currys (CURY LN) - Divests Greece/Cyprus retail business to Public Power Corp. for EV GBP 175mln. (Newswires) 

Equinor (EQNR NO) - Discovered oil and gas in exploration well 30/6-C-2 A ("Lambda"), about four kilometres west of the Oseberg field in the North Sea. Preliminary estimates place the size of the discovery in the Eiriksson Formation between 0.2 and 0.4 million standard cubic metres of recoverable oil equivalent. Preliminary size estimate for the discovery in the Cook Formation is between 0.2 and 1.0 million standard cubic metres of recoverable oil equivalent. (NPD)

Fincantiere (FCT IM) - TUI Cruises has asked the Co. to postpone delivery and final payment to 2025 (scheduled H1-2024), via MF Daily. (Newswires)

Telecom Italia (TIT IM) - Vivendi (VIV FP) asks Co. to examine Merylin's proposal to sell Brazil and then Italian rental units instead of the grid network to KKR, via Bloomberg. (Bloomberg) 

Vonovia (VNA GY) - CEO signs that devaluation pressure in real estate is decreasing. (Newswires)

Vestas Wind Systems (VWS DC) - Awarded 42MW wind turbines projects in Germany. (Newswires) 

Anglo American (AAL LN) upgraded to Outperform from Neutral at Oddo

Andritz (ANDR AV) upgraded to Overweight from Neutral at JP Morgan

03 Nov 2023 - 07:30- Research Sheet- Source: Newswires