Additional European Equity News

Bureau Veritas (BVI FP) - Acquired Arcvera renewables to accelerate growth and create a new stronghold in the renewables sector in North America. (Newswires) 

Barratt Developments (BDEV LN) - FY (GBP): Adj. Pretax Profit 385mln (exp. 365mln), Revenue 4.16bln (exp. 4.18bln), Adj. Gross Margin 16.5% (exp. 27%). Entered FY25 with a solid forward sales position; says housing market remains subdued due to affordability constraints. Underlying demand in the UK is strong and looks forward to working with the Government and wider stakeholders to deliver new homes. Expects short-term reduction in avg. outlets which result in a delivery of 13-13.5k homes in FY25. FY total home completions of 14k, at upper end of exp. range. (Newswires) 

Direct Line (DLG LN) - H1 (GBP): Pretax profit 61.6mln (exp. 46mln). Says solvency capital has improved during H1 to a strong 200% pre-dividend. GWP and associated fees of 53.5%; expects motor's new insurance margin to improve during H2. (Newswires) 

M&G (MNG LN) - H1 (GBP): Adj. Op. Profit 375mln (prev. 390mln Y/Y), Dividend/shr 6.6p (prev. 6.5p  Y/Y). (Newswires)

Man Group (EMG LN) - Appointed Paco Ybarra to board. (Newswires) 

Roche (ROG SW) - Roche’s fenebrutinib demonstrated near-complete suppression of disease activity and disability progression for up to 48 weeks in patients with relapsing multiple sclerosis. New Phase II data show vast majority of patients experiencing no relapses or disability progression. Fenebrutinib’s safety profile was consistent with previous and ongoing clinical trials across multiple diseases including more than 2,700 people to date. (Roche)

Segro (SGRO LN) - Recommended all share offer for Tritax Eurobox (EBOX LN). Expects deal to be accretive to EPRA NTA per share and adj. EPS immediately following effective date. (Newswires) 

04 Sep 2024 - 07:02- EquitiesResearch Sheet- Source: Newsquawk