Additional European Equity News
ABB (ABBN SW) - CEO said layoffs as part of cost-cutting measures are not largely finished, pushed back on the demand from activists to spilt the Automation and Electrification divisions. (SonntagsZeitung)
Electric vehicles - Surging metals prices used in production of electric vehicle batteries end decade-long decline; price increases could weigh on growth. (WSJ)
Eurazeo (RF FP) - Co. and Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, announced the establishment of a strategic partnership. It will initially focus on investing in hotels across Europe, targeting large assets or portfolios well-positioned to benefit from the sector’s recovery. (Eurazeo)
Faurecia (EO FP)/ HELLA (HLE GY) - Following Faurecia's acquisition of a controlling stake in HELLA, Cos announced ambitions to reach sales above EUR 33bln, operating margin above 8.5% and c. EUR 1.75bln of net cash flow in 2025 and achieve above EUR 250mln in cost synergies. The combined Group’s new name will be announced during a press conference to be held today at 10:00GMT/05:00EST. (Faurecia)
HelloFresh (HFG GY) - Positive mention in Barron's; said the beaten-down stock is now a buy. (Barron's)
Henkel (HEN3 GY) - CEO reiterated the desire to merge Laundry/Home Care and Beauty Care into one unit, via Faz. (Newswires)
KBC Group (KBC BB) - Co. and Ireland have closed the sale of its remaining non-performing mortgage loan portfolio. (Newswires)
Repsol (REP SM) - Peru has given temporary authorisation to the resumption of hydrocarbon loading/unloading at sea following a halt due to an oil spill; temporary resumption is in response to duel shortages. (Newswires)
Taylor Wimpey (TW/ LN) - Jennie Daly has been appointed CEO effective April 26th. (Newswires)
UK Housing - UK Halifax House Prices MM (Jan) 0.3% (Prev. 1.1%). (Newswires)
Volkswagen (VOW3 GY) - Automaker does not expect the global shortage of semiconductors to end this year, but should ease in H2. (Reuters)