Additional European Equity News

Airbus (AIR FP) -  November deliveries 84 (prev. 62 in Oct), Gross Orders 30 (prev. 82) 2024 deliveries to date 643 (prev. 559). Booked 779 gross aircraft orders in Jan-Nov (vs 749 between Jan-Oct). (Newswires) 

AstraZeneca (AZN LN) - Imfinzi granted Priority Review in the US for patients with muscle-invasive bladder cancer. Decision based on NIAGARA Phase III trial results which demonstrated a statistically significant and clinically meaningful event-free and overall survival benefit. If approved, this will be the first and only perioperative immunotherapy regimen in this curative-intent setting. (AstraZeneca)

Aviva (AV/ LN)/ Direct Line (DLG LN) - Direct Line has confirmed it has reached a prelim agreement with Aviva on potential deal. Bloomberg added the offer for Direct Line at GBP 2.75/shr, representing a 16.5% premium to Thursday's close. (Newswires) Note, it was reported yesterday that Aviva has reportedly increased its bid for Direct Line to GBP 2.61/shr from GBP 2.50/shr; Direct Line closed on Thursday at GBP 2.36.

Berkeley (BKG LN) - H1 (GBP): Revenue 1.28bln (exp. 1.27bln). Pretax 275.1mln (prev. 289mln Y/Y). Affirms FY25 PBT guidance at GBP 525mln. (Newswires) 

BMW (BMW GY) upgraded to Buy from Hold at Jefferies; Shares seen opening +1.5%

Frasers Group (FRAS LN) - Intends to launch a voluntary offer for all of the shares in XXL ASA at NOK 10/shr. (Newswires)

EQT AB (EQT SS) - EQT is seeking buyers for payments services provider Banking Circle, potentially valued between USD 3-4bln, according to Bloomberg. The sales process is expected to begin in Q1 2025. (Newswires) 

German Industrial Sector - German Industrial Output MM (Oct) -1.0% vs. Exp. 1.2% (Prev. -2.5%). (Newswires)

Mercedes-Benz (BMG GY) downgraded to Hold from Buy at Jefferies

Moncler (MONC IM) - upgraded to Buy from Neutral at Goldman (Newswires) 

Munich Re (MUV2 GY) downgraded to Equal Weight from Overweight at Morgan Stanley

Orsted (ORSTED DC) downgraded to Equal Weight from Overweight at Morgan Stanley

Rio Tinto (RIO LN) - A report has revealed ongoing environmental and community risks from Rio Tinto's abandoned Panguna copper mine in Bougainville, Papua New Guinea, Bloomberg reports. The mine's closure in 1989 followed civil unrest, and its waste continues to pose a threat, with Rio struggling to access the site for remediation. (Bloomberg)

Safran (SAF FP) downgraded to Neutral from Buy at ESN

Schindler Holding (SCHP SW) downgraded to Underweight from Neutral at JPMorgan Chase; Shares seen opening -2%

UK Housing - UK Halifax House Prices MM (Nov) 1.3% vs. Exp. 0.2% (Prev. 0.2%, Rev. 0.4%). (Newswires)

Vivendi (VIV FP) - Co. said Paris Commercial Court rejected CIAM's request to postpone shareholders' meeting. (Newswires)

E.ON (EOAN GY) upgraded to Overweight from Equal Weight at Morgan Stanley

06 Dec 2024 - 07:29- EquitiesResearch Sheet- Source: Newsquawk