Additional European Equity News

888 Holdings (888 LN) - FS Gaming discloses a 6.57% stake. (Newswires)

Airbus (AIR FP) - FAA says it validated Boeing's (BA) assessment there is no immediate safety issue for 787 aircraft already in service; will not issue new airworthiness certificates for Boeing 787 until latest matter is addressed to agency satisfaction. (Newswires)

Atos (ATO FP) - Tech Foundations unit outlook update: outlook upgraded, Revenue expected to bottom out at circa. EUR 5bln in 2023 and resume growth trajectory in 2026. (Newswires) Seen opening higher by +2/3%

Barclays (BARC LN) - Co. is looking to sell circa. EUR 5bln of Italian mortgage loans as part of intentions to leave retail banking within Italy, via Bloomberg citing sources; including non-performing mortgages and high-risk loans in CHF. (Newswires)

Danske Bank (DANSKEB DC) - FY26 targets: Cost/income ratio ~45%, ROE 13%, CET1 > 16%, dividend policy reiterated. Intends to restart dividend payments with H123 interim report. (Newswires)

Diageo (DGE LN) - CEO Menezes has passed away. (Diageo) Menezes was due to retire on 30th June 2023.

Edenred (EDEN FP) - Placed EUR 1.2bln in a bond issue. (Newswires)

Energy Names - German Bundesnetzagentur (network regulator) is offering higher return on equity for new energy investment from today. Elsewhere, UK's Ofgem will be legally obliged to push for net zero, with the gov't introducing an amendment to the energy bill to reflect 2050 net zero goal. (Newswires)

Eni (ENI IM) - Co. is reportedly studying options to relaunch its Versalis chemical unit. (MF)

GlaxoSmithKline (GSK LN) - EU authorises Cos RSV vaccine Arexvy, based on Phase III efficacy data. (Newswires)

Harbour Energy (HBR LN) - Reportedly in discussions to combine with Talos Energy, via Reuters citing sources. (Reuters)

Inditex (ITX SM) - Q1 (EUR): Sales 7.6bln (exp. 7.57bln), EBITDA 2.2bln (exp. 2.12bln), Net Income 1.2bln (exp. 0.98bln), EBIT 1.5bln (exp. 1.3bln). To propose setting the number of board members at 10. Expects stable gross margin for FY. (Newswires) Seen opening higher by +1/2%

Lloyds (LLOY LN) - Co. is reportedly being advised on options for the Telegraph and The Spectator publications; sources via Sky News suggest that Co. intends to appoint another large investment bank to commence a GBP 600mln auction. (Sky News)

Pirelli (PIRC IM) - No lists deposited by shareholders by the 5th June deadline; at the June 29th meeting there will be a proposal to defer nomination of board to subsequent meeting set for July 31st at the end of the golden power procedure. Elsewhere, CEO has warned that their independence is at stake due to the increasing influence of shareholder Sinochem, via WSJ. (Newswires/WSJ)

Rheinmetall (RHM GY) - Received an order for 20 additional fighting vehicles from Germany for Kyiv. (Newswires)

Shell (SHEL LN) - Advertising Standards Authority has ruled that adverts created the impressions that a significant proportion of Cos business compromised of low carbon energy products, three adverts have been banned. (Sky News)

Telecom Names - EU is considering a mandatory ban on using Huawei to build 5G and the UK is to remove Chinese surveillance cameras from sensitive government sites, according to FT. Hangzhou Hikvision (002415 CH) later stated that it believes the possible action by the UK government is a further step up of mounting geopolitical tensions being expressed through technology bans, while it added that dismantling its products shall never contribute to heightened security of sites in the UK and is counterproductive. (FT/Newswires)

Melrose (MRO LN) maintained with Overweight at Barclays

Sage (SGE LN) maintained with Equalweight at Barclays

Teleperformance (TEP FP) maintained with Outperform at RBC

07 Jun 2023 - 07:10- EquitiesEconomic Commentary- Source: Newsquawk