Additional European Equity News

Auto Names – Paris voted in favour of a 3x increase in parking charges for large SUVs. (Newswires)

Avanza (AZA SS) - Jan (SEK): Customer growth +7% Y/Y, Net Inflows 8.08bln (prev. 5.99bln M/M). (Newswires)

Casino (CO FP) – 13:00GMT French court hearing on the restructuring plan. (Newswires)

Ceconomy (CEC GY) – Does not anticipate further write-down on their stake in Fnac Darty, via Borsen Zeitung citing the CFO. (Newswires)

Fresenius Medical Care (FMC GY) – Nominates six individuals to the supervisory board. (Newswires)

Nokia (NOKIA FH) – Signs 5G patent cross-license agreement with Vivo. (Newswires)

Nordnet (SAVE SW) – Jan (SEK): Customer growth +9.2% Y/Y, Net Savings 6.5bln (prev. 3.5bln M/M). (Newswires)

Orpea (ORP FP) – Announces details and expected timetable of reverse share split of the outstanding shares. Via the exchange of 1k existing shares with a par value of EUR 0.01 to be issued with a par value of EUR 10.00. (Newswires)

Rio Tinto (RIO LN) – Officials in Guinea have approved a development deal for the Simandou iron ore project. (Newswires)

Societe Generale (GLE FP) – Intends to implement organisational changes to head office, would result in circa. 900 job cuts but without forced departures. (Newswires)

Sweco (SWECA SS) – Enters 10yr framework agreement with Gasunie for new energy transition infrastructure in the Netherlands. (Newswires)

Stellantis (STLAM IM/STLAP FP)/Renault (RNO FP) – France is reportedly considering a merger between the Cos in order to increase their hold on the sector, offset Chinese/German competition and make it more expensive for Rome to invest to defend Italian interests, via Il Messaggero citing sources. (Newswires)

Telecom Italia (TIT IM) – Italian government is reportedly considering whether to meet with Vivendi (VIV FP) to try and come to a shared view ahead of the April AGM, via Milano Finanza citing sources. (Newswires)

Telenor (TEL NO) – Considers it necessary to recognise an impairment relating to the investment in True Corporation of NOK 8bln, as the market value has dropped significantly below the initial purchase price. Reduced value of NOK 695mln will be reflected in Q4, transaction overall remains positive for Telenor. (Newswires)

UniCredit (UCG IM) – When asked about Pop Sondrio, CEO says the metrics do not work and we will not move unless they are correct. (Newswires)

Vodafone (VOD LN) – Q3 Trading Update (GBP): Revenue 11.37bln (exp. 11.63bln), Service Revenue 9.3bln (exp. 9.5bln), Service Organic Revenue +4.7% (exp. 4.3%). Affirms FY24 adj. EBITDaL 13.3bln and adj. FCF 3.3bln. Begun strategic partnerships with Microsoft and Accenture to fast-track our transformation. (Newswires)

Dsm Firmenich (DSFIR NA) initiated with Buy at Kempen

Givaudan (GIVN SW) initiated with Neutral at Kempen

ICMD (IMCD NA) resumed with Neutral at Kempen

Trelleborg (TRELB SS) downgraded to Hold from Buy at Kepler

Symrise (SY1 GY) initiated with Neutral at Kempen

05 Feb 2024 - 07:05- ForexResearch Sheet- Source: Newsquawk