Additional European Equity News

Barclays on European Sectors - Downgrades: Diversified Financials to Market Weight, Healthcare to Underweight, Leisure to Underweight

Autos / Jaguar Land Rover - The Times writes that Jaguar Land Rover will pause shipments of its Britain-made cars to the US as it reviews how to limit the costs of the recent Trump tariffs on autos. (The Times) 

Airbus (AIR FP) - Co. delivered 71 airplanes in March, via Reuters citing sources. This would bring Q1 deliveries to 136 units. (Reuters) 

De La Rue (DLAR LN) - Sale of authentication; Crane to pay GBP 300mln to De La Rue. Confirms earlier reports.

Ferrexpo (FXPO LN) - Q1'25 Production Report: Total pellet production 1.3mln, -26% Y/Y. Notes that the increase in production did not translate into improved earnings due to high input costs. (Newswires) 

Fincantieri (FCT IM) - Signs a deal with Carnival (CCL LN) for two new cruise ships for Aida cruises, deal expected to be over EUR 2bln (Newswires)

German Wages - Bloomberg reports that German public-sector workers won a 5.8% wage increase, which will be awarded in two tranches. (Bloomberg)

IDS (IDS LN) - As of 4 Apr, EP Corporate Group has been received valid acceptances for 58.15mln IDS shares, approx. 6.06% of issued share capital. (Newswires)  

STOXX 600 - Barclays cuts STOXX 600 year-end target to 490 (prev. forecast 580, last closed 496.33)

Shell (SHEL LN) - Q1 Trading Update: LNG liquefaction volumes 6.4-6.8MT (prev. guided 6.8-7.2MT), Integrated Gas Production 910-950k (prev. guided 930-990k). Chemicals & Products trading & optimisation in Q1'25 is exp. to be significantly higher than in Q4'24. Net debt movement to show about USD 1.5bln increase. (Newswires) 

Neste (NESTE FH) - To cut 510 jobs, saving EUR 65mln annually. (Newswires) 

Novo Nordisk (NOVOB DC) -   Trump Administration drops Biden Medicare obesity drug coverage proposal

Tesla (TSLA) - A leading Tesla analyst at Wedbush cut his price target for Tesla by 43% (from USD 550 to USD 315), attributing the decline to a "brand crisis" driven by CEO Elon Musk and US President Trump’s trade policies. The firm estimates Tesla has already lost 10% of its future customer base, and said that the impact of US-China trade tensions, including retaliatory tariffs, is expected to hurt Tesla's sales in China. Its analyst Daniel Ives called on CEO Elon Musk to lead the company more effectively during these uncertain times. 

BMPS (BMPS IM) downgraded to Equal Weight from Overweight at Barclays 

Mondi (MNDI LN) upgraded to Equal Weight from Underweight at Barclays

Holmen (HOLN SW) downgraded to Underweight from Equal Weight at Barclays 

07 Apr 2025 - 07:10- ForexEU Research- Source: Newsquawk