Additional European Equity News

Air Liquide (AI FP) – Signed major contract to support the semiconductor industry in the US with an investment of more than EUR 250mln. Facility expected to be operational by 2025. (Newswires)

AstraZeneca (AZN LN) – Fusion acquisition has now completed. (Newswires)

Hugo Boss (BOSS GY) - Potential readacross from PVH: PVH Corp (PVH) Q1 2024 (USD): Adj. EPS 2.45 (exp. 2.16), Revenue 1.952bln (exp. 1.93bln). FY EPS view 11.0-11.25 (exp. 10.99); announced leadership update. (Newswires)

Banca Generali (BGN IM) - May net inflows EUR 648mln. (Newswires)

Bayer (BAYN GY) - Judge cuts the USD 2.25bln US verdict against Bayer to USD 400mln regarding a Pennsylvania man who claimed he developed cancer due to the Co's Roundup weedkiller. (Newswires) Shares are indicated higher by 2.4 in pre-market trade.

B&M European (BME LN) - FY24 Trading Update: Revenue 5.5bln (exp. 5.89bln), +10.1% Y/Y, adj. EBITDA 629mln (exp. 906mln), +11.5% Y/Y. Recommended Final Dividend of 9.6p/shr. Says is well set for the years ahead and in FY25 will open not less than 45 new stores and a meaningful amount in France. During Q4, we accelerated our opening programme and step up in openings is continuing. Raised long-term store target to not less than 1200 stores. Tiffany Hall to succeed Peter Bamford as new Chair. (Newswires)

Centrica (CNA LN) – Performance YTD in-line with expectations. FY adj. EPS is expected in-line with analyst forecasts. H2 numbers are expected to reflect lower commodity prices. (Newswires)

Elekta (EKTAB SS) – Q4 (SEK): Sales 5.02bln (exp. 5.34bln), EBIT 617mln (exp. 840mln). Proposes dividend of 2.40/shr. Expects H1 of 2024/25 to be weaker due to challenging market conditions. (Newswires)

Hensoldt (HEN3 GY) - With Lufthansa (LHA GY), reach Pegasus program milestone. (Newswires) 

Ipsen (IPN FP) - New data from the ELATIVE® Phase III trial show 70% of patients treated with elafibranor achieved composite endpoint of slowing disease progression measured by biochemical response after 78-weeks. (Ipsen)

KPN (KPN NA) – KPN and Dutch Pension Fund ABP have signed an agreement to create a new tower company. (Newswires)

Ryanair (RYA ID) - May traffic growth 18.9mln, +11% Y/Y. Ryanair operated over 105k flights in May 2024. (Newswires) 

Senior (SNR LN) – Opening of a new French production facility. (Newswires)

Swisscom (SCMN SW) – Fastweb sells stake in Fibercop. KKR will acquire all shares held by Fastweb in Fibercoop for a cash consideration of EUR 438.7mln. Transaction remains subject to completion of Netco transaction by KKR, closing is expected in Q3’24. (Newswires)

TotalEnergies (TTE FP) – Co. is moving towards a final decision on Block 58, decision expected in Q4 with a production start up in 2028. (Newswires) Block 58 is the area which covers a significant oil discovery offshore Suriname.

WH Smith (SMWH LN) - Trading Update: On track to deliver FY guidance and in-line with expectations. Well positioned for peak summer trading period. (Newswires) 

05 Jun 2024 - 07:10- EquitiesResearch Sheet- Source: Newsquawk