Additional European Equity News

Abrdn (ABDN LN) - Co. intends to launch additional ETFs for investment in materials to target global supply chains. (FT)

Assa Abloy (ASSAB SS) – Q4 (SEK): 4.21bln (prev. 3.97bln Y/Y), EBIT 6.53bln (exp. 6.40bln), Revenue 39.6bln (exp. 39bln). (Newswires)

Bechtle (BC8 GY) - FY Business Volumes +2% Y/Y to EUR 8bln. Final metrics in line with expectations. (Newswires) 

BT (BT/ LN) - Sells BT Communications Ireland Limited for GBP 22mln. (Newswires) 

Demant (DEMANT DC) - Q4 (DKK): Revenue 5.93bln (exp. 5.7bln). Outlook 2025: EBIT 4.5-4.9bln. Share buyback more than DKK 1.5bln. (Newswires) 

EU Tariffs - The European Commission is looking at utilising the "anti-coercion instrument" in the scenario of a dispute with the US, via FT; an official added that "all options are on the table". The instrument would allow the EU to impose restrictions on trade if it is judged that tariffs are being used to force changes to policy. (FT)

GSK (GSK LN) - Q4 (GBP): Revenue 8.1bln (exp. 8.05bln), Core EPS 0.23 (exp. 0.43). FY24: Sales 31.38bln (exp. 31.2bln), adj. EBPTA 1.59 (exp. 1.55), adj. Operating Profit 9.15bln (exp. 8.3bln). GBP 2bln buyback over the next 12-months. FY Outlook Core Operating Profit growth 6-8% Turnover growth 3-5% Core EPS growth 6-8% Long Term Outlook (2031) Revenue 40bln (prev. guided >38bln)

Fincantieri (FCT IM) - Won four cruise ship building contracts worth over EUR 2bln. (Newswires) 

Ryanair (RYA ID) - Jan Traffic +2%; load factor 91% (prev. 89% Y/Y). Notes that Jan growth was hampered by 38 delayed Boeing (BA) deliveries. (Newswires) 

SSE (SSE LN) – Q3 Trading Update: 2024/25 FY adj. EPS to be between 154-164p. (Newswires)

TotalEnergies (TTE FP) - Q4 (EUR): adj. Net Income 4.41bln (exp. 4.26bln), adj. EBITDA 10.5bln (exp. 10.17bln). Raised FY24 dividend to 3.22/shr, +7% Y/Y 2024 Results Hydrocarbon production 2.43mln, +2% Y/Y ex-Canada disposal 2025 Guidance Net Investments of USD 17-17.5bln. Expects to increase energy production by 5%. Confirms shareholder return policy of more than 40% CFFO payout. Energy Commentary Gas markets should remain in tension in 2025 due to very limited expected capacity additional related to delays of some projects. Expects the average Q1-2025 selling price of LNG will be above USD 10/Mbtu. Expects 2025 hydrocarbon production to grow by over 3%; Q1-2025 seen between 2.5-2.55mln/BOEPD. 

UK Firms - UK Chancellor Reeves will, in a Wednesday meeting, attempt to convince investment firms to take more risks with their cash to unlock funding for infrastructure to drive growth. (CityAM) 

UPM (UPM FH) - Q4 (EUR): Revenue 2.6bln (exp. 2.6bln), adj. EBIT 418mln (exp. 348mln), adj. EBITDA 436mln (exp. 536mln). Dividend of 1.50/shr. (Newswires)

Ferrari (RACE IM) downgraded to Equal Weight from Overweight at Barclays

Richemont (CFR SW) upgraded to Overweight from Equal Weight at Morgan Stanley 

05 Feb 2025 - 07:06- EquitiesEU Research- Source: Newsquawk

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