Additional European Equity News

Banco BPM (BAMI IM) – CEO said excess capital would be used to reward investors and also to boost capacity, via Corriere della Sera. (Newswires)

Clas Ohlson (CLASB SS) – Q1 (SEK): Revenue 2.19bln, +7% YY, Organic Revenue +8% YY. (Newswires)

Eutelsat (ETL FP) – The Co. and Thaicom to partner for a new software-defined satellite over Asia, which is due to be delivered in 2027. (Newswires)

Fresenius SE (FRE GY) - Fresenius Kabi and Formycon securs US licence date for Ustenkiumab biosimilar candidate. Is subject to regulatory approval and settlement grants an entry date for FYB202 in US no later than April 15, 2025. (Newswires)

Italian Banks - A pool of banks including Intesa Sanpaolo (ISP IM), Banco BPM (BAMI IM) sign a binding contract for Italian interbank network Bancomat, will invest up to EUR 100mln each. (Newswires) 

Italian Cos – Italy’s cabinet is on Monday set to bring into effect measures to support strategic industrial sectors, via Reuters citing a draft; additionally, looks to lift limits on electromagnetic emissions after complaints from Telecom Italia (TIT IM) and others. (Reuters)

Saipem (SPM IM) – CEO believes that within one or two years the can “really think about starting a new dividend distribution policy”. (Il Sole 24)

Engie (ENGI FP) reiterated with Outperform at Credit Suisse

Fresenius SE (FRE GY) reiterated with Overweight at Barclays

Fresenius Medical Care (FME GY) reiterated with Equal Weight at Barclays

Repsol (REP SM) upgraded to Outperform from Neutral at BNP Paribas

Maersk (MAERSKB DC) reiterated with Underweight at Barclays

Legal & General (LGEN LN) reiterated with Overweight at Barclays 

Telefonica Deutschland (O2O GY) downgraded to Underperform from Neutral at Oddo Securities

WPP (WPP LN) reiterated with Overweight at Barclays

Worldline (WLN FP) reiterated with Overweight at Barclays 

07 Aug 2023 - 07:30- Equities- Source: Newswires