Additional European Equity News

Ageas (AGS BB) - Co. is mulling a takeover of other UK targets following the failed Direct Line (DLG LN) bid, according to City AM. (City AM) 

Atos (ATO FP) - Update on ongoing discussions with French State concerning BDS's advanced computing, mission-critical systems and cybersecurity products businesses. Potential sale subject to approval of Nanterre Commercial Court. Financial restructuring plan includes preservation of activities. (Newswires) 

AstraZeneca (AZN LN) - Airsupra demonstrated statistically significant and clinically meaningful reduction in the risk of severe exacerbations in patients with intermittent or mild persistent asthma in BATURA Phase III trial. (AstraZeneca) 

Bureau Veritas (BVI FP) - Enters into agreement to sell its food testing business; sale valued at EUR 360mln, net proceeds EUR 290mln. (Newswires) 

BP (BP/ LN) - Abandons 2030 oil and gas output  reduction targets, via Reuters citing sources; BP eyes investments in Iraq, Kuwait and Gulf of Mexico to boost oil output in the coming years. (Newswires) 

Ferrexpo (FXPO LN) - Q3'24 Production Report: 9M production +47% to 5.12mln tons. Says Q3 presented a very challenging operating and macro environment. Pessimism surrounding iron ore prices appears to have lifted for now. (Newswires) 

Heidelberg Materials (HEI GY) - India's Adani group is said to be in talks to buy Co's Indian cement operations in a deal that could be worth USD 1.2bln, according to Reuters sources. (Newswires) 

Italgas (IG IM) - Sees investment for EUR 15.6bln over 2024-2030 strategic plan. Sees EPS accretion starting from 2026. Dividend Policy: Confirms 65% payout and increased floor to 5% annual growth. Sees Revenue at around EUR 3.6bln, with EBITDA of 2.8bln by 2030. (Newswires) 

Rubis (RUI FP) - Launches share buyback programme; max 1mln shares at EUR 50/shr. (Newswires)

Richemont (CFR SW) - Richemont will sell its Yoox Net-A-Porter online fashion business to Mytheresa in exchange for a 33% stake in the German luxury fashion platform. Mytheresa will acquire 100% of YNAP, with the deal expected to close in H1 2025. (Newswires) 

SBB (SBBB SS) - Aims to change listing venue to Nasdaq Stockholm main  market within 12 months. SBB plans to sell as much as SEK 4bln worth of stock in its residential unit in an effort to shore up its balance sheet. Co. said it will use proceeds from the sale to improve its financial position. (Newswires) 

Thyssenkrupp (TKA GY) - Co. is reviewing plans for green steel production, via Reuters. (Reuters)

Ubisoft (UBI FP) - Notes of the recent press speculation on potential interest. Reviews strategic options regularly. (Newswires) 

DS Smith (SMDS LN) downgraded to Underweight from Equal Weight at Barclays 

Stora Enso (STERV FH) upgraded to Overweight from Underweight at Barclays 

07 Oct 2024 - 07:20- EquitiesResearch Sheet- Source: Newsquawk