Additional European Equity News

Alstom (ALO FP) - Alstom and KUKE sign billion-euro strategic cooperation agreement to increase export projects in Poland. (Alstom)

BASF (BAS GY) – Co. will not conclude any new deals within Belarus or Russia. (WiWo)

Credit Suisse (CSGN SW) – In response to the FT article referencing a letter asking “investors to destroy documents linked to oligarch and tycoon yacht loans” says it relates to a transaction where parties signed NDAs, and the Co’s request was one they were entitled to under this agreement. No data, client or otherwise, has been erased within Credit Suisse. (Newswires)

Dassault Aviation (AM FP) - FY21 (EUR): Revenue 7.25bln (prev. 5.49bln Y/Y). EPS 8.34 (prev. 4.76). Adj. operating profit 527mln (prev. 261mln). (Newswires)

Deutsche Bank (DBK GY) - Co. says clearly it the Ukrainian crisis will have an impact on bank as it will for many others and Co. is confident that day-to-day trading operations will not be affected. (Newswires)

Hammerson (HMSO LN) – FY21 (GBP): adj. EPS 0.018 (exp. 0.015), Gross Rental Income 242mln (prev. 287mln), Final Dividend 0.02/shr (exp. 0.014/shr). Strong recovery in footfall, brand sales and leasing in value retail. Maintained a focus on arrears/rent collection.  (Newswires)

ING (INGA NA) - Co. notes that total exposure to Russia stands at EUR 5.3bln. Total exposure including potential effect of liquidity/currency controls at EUR 6.7bln. Co. notes EUR 700mln outstanding affected by new sanctions on specific entities and individuals. Currently no material effect of SWIFT blockage for ING. Co. is intensifying monitoring of counterparties. (ING)

Melrose (MRO LN) - Reports via Times suggest the Co. is on its way to separately float GKN’s automotive and aerospace businesses. (Newswires)  

UCB (UCB BB) - Co. announced the expiration of Hart-Scott-Rodino waiting period for the proposed acquisition of Zogenix. (UCB)

Elior (ELIOR FP) downgraded to Neutral from Buy at Citigroup

Fortum (FUM1V FH) downgraded to Hold from Buy at SEB

ITV (ITV LN) downgraded to Equal Weight from Overweight at Barclays

Saint-Gobian (SGO FP) upgraded to Overweight from Equal Weight at Morgan Stanley

04 Mar 2022 - 07:08- Research Sheet- Source: Newsquawk