Additional European Equity News

Associated British Foods (ABF LN) - Trading Update: H2 expectations: Primark Revenue expected to be +4%, LFL -0.5%, US Sales +25%. Now expects adj. op profit margin for FY to a little over 11.5%. (Newswires) 

Ashmore (ASHM LN) - FY (USD): AuM 49.3bln, Adj. Net Revenue 187.8mln, -4% Y/Y, Adj. EBITDA 77.9mln, -27% Y/Y. Maintains dividend. (Newswires)

Asos (ASC LN) - Trading Update: Expects FY25 adj. EBITDA at top end of concensus estimates; sales slightly below guidance. Entered into binding agreement with Heartland to for JV which will purchase Topshop and Topman brands; ASOS to retain 25% stake. Transaction expected to ahve a GBP 10-20mln negative impact on EBITDA and to be increasingly EBITDA accretive over time. (Newswires) 

Currys (CURY LN) - Trading Update: Positive start to the year and maintains guidance. LFL +5%. (Newswires) 

Eurazeo (RF LN) - Nov Sante, managed by Eurazeo is investing EUR 35mln in IB Moria. (Newswires) 

FTSE Resuffle - FTSE 100: Hiscox (HSX LN) will be added and is replacing Burberry Group (BRBY LN) who will join the FTSE 250, as will Raspberry Pi Holdings (RPI LN). Changes will be implemented on 23rd September. (LSEG)

Jet2 (JET2 LN) - Summer 2024 seat capacity at 17.17mln, +12.4% Y/Y. (Newswires) 

Just East (JET LN), HelloFresh (HFG GY) – Partner up to launch rapid delivery trial. (Newswires)

IDS (IDS LN) - Ofcom says it is to explore modifications to second class letter delivery; says Royal Mail's performance must improve. IDS says universal postal service "faces a very real and urgent financial sustainability challenge" (Newswires)

Siemens Energy (ENR GY) - Says it is resuming sales of its 4.X onshore windturbine; sales activity will initially be limited to selected markets. (Newswires) 

Vistry (VTY LN) - H1 (GBP): On track for 18k completions in FY24. Announced GBP 130mln share buyback. (Newswires) 

Volvo Car AB (VOLCARB SS) - Co. ambition is to continue outgrowing the premium car market until 2026. Aims to achieve EBIT margin of 7-8% in 2026 (prev. guided +8%). Aims for cash flow neutrality in 2025 and 2026, and strong FCF from 2026 onwards. (Newswires) 

Volkswagen (VOW3 GY) - IG Metall From Oct 29, strikes are possible. (Newswires) 

BASF (BAS GY) resumed with Equal Weight at Morgan Stanley 

05 Sep 2024 - 07:45- EquitiesData- Source: Newsquawk