Additional European Equity News

Anglo American (AAL LN) - All resolutions proposed were duly passed at the AGM. (Newswires) 

ArcelorMittal (MT NA) – Q1 revenue USD 16.2bln vs exp. USD 16.471bln. EBITDA USD 3.24bln vs exp. USD 3.02bln. Iron ore shipments 9.8Mt vs prev. 10.6Mt. Co. raises FY21 capex to USD 2.9bln vs prev. USD 2.8bln. Co. affirms 2021 global apparent steel consumption and Chinese demand forecasts. (Newswires)

Arkema (AKE FP) – Q1 revenue EUR 2.23bln vs prev. EUR 2.147bln EBITDA EUR 358mln vs prev. EU R300mln. (Newswires)

Aston Martin Lagonda (AML LN) - Q1 revenue GBP 224.4mln vs prev. GBP 88.8mln. Pretax GBP -42.2mln vs prev. GBP -110.1mln. (Newswires) 

Barratt Development (BDEV LN) – FY outlook modestly above boards previous expectations. Strong operational performance resulting in an increase to expect FY completions to 16-16.25k homes. Co. remains financially strong. To refund GBP 3.5mln in business rate relief to local authorities. Incurred charges of GBP 163mln re. cladding since FY18. (Newswires)

Continental (CON GY) - Q1 revenue EUR 10.3bln vs exp. EUR 10.334bln. EBIT EUR 719mln vs exp. EUR 661mln. EBITDA EUR 1.40bln vs exp. EUR 1.519bln. Co. says Vitesco's spin-off is planned for September and adjusted its 2021 view mainly due to this spinoff. (Newswires) 

FTSE 100 ex-divs – Admiral Group (ADM LN), BP (BP/ LN), Croda International (CRDA LN), Polymetal International (POLY LN) and Reckitt Benckiser (RKT LN) will trade without entitlement to their latest dividend. (Newswires)

Infineon (IFX GY) - Increases supply security for silicon carbide by expanding the supplier base. (Newswires)

Melrose (MRO LN) - Co. said trading is modestly ahead of expectations. (Newswires)

Mondi (MNDI LN) – Q1 underlying EBITDA as expected, strong demand across the packaging market. Confident to progress in-line with expectations. (Newswires)

Next (NXT LN) - Total online sales +65% Y/Y. Co. has beaten its central target by GBP 75mln raises its sales guidance for the rest of the year. (Newswires) 

Outokumpu (OUT1V FH) – Q1 revenue EUR 1.67bln vs exp. EUR 1.74bln, adj. EBITDA EUR 177mln vs exp. EUR 133mln. Q2 stainless steel deliveries expected 0-5% above Q1. Q1 derivative gains not expected to be of the same magnitude in Q2. (Newswires)

Pharma Names - US President Biden stated that he will back a WTO waiver and the USTR also announced support for the waiver of vaccine-patent protections at the WTO although negotiations will take some time, while there were comments from the White House Press Secretary that the White House may have news regarding the waiver of vaccine patents very soon. (Newswires) Note Pharma names fell in the US and APAC regions as manufacturers argue it will hit profits

Sanofi (SAN FP) -  Co. establishes three-year collaboration with Stanford Medicine to accelerate immunology research. (Sanofi)

Telecom Italia (TIT IM) - Italy has reportedly dropped the backing of Co's single network plan, according to reports - unconfirmed. (Newswires) 

UBS (UBSG SW) - Co. has agreed to sell its remaining 48.8% stake in Clearstream Fund Centre to Deutsche Boerse (DB1 GY) for approximately USD 430mln. (Newswires)

Valneva (VLA FP) - Co. has announced a temporary trading suspension of its ordinary shares in Euronext Paris. (Newswires) 

BRITISH LAND (BLND LN) DOWNGRADED FROM NEUTRAL TO OUTPERFORM AT EXANE BNP    

ICADE (ICAD FP) UPGRADED TO OUTPERFORM FROM NEUTRAL AT EXANE BNP    

LAGARDERE (MMB FP) UPGRADED TO NEUTRAL FROM UNDERPERFORM AT ODDO SECURITIES

06 May 2021 - 07:28- Research Sheet- Source: Newsquawk