Additional European Equity News

Air France (AF FP) - Co. would only submit a bid for ITA if Lufthansa (LHA GY) withdrew, according to reports via Corriere. (Corriere)

Bellway (BWY LN) - Strong underlying demand in the HY, 5.8% increase in the overall reservation rate. Sees further growth in FY23 to circa 12.2k homes. (Newswires)

BP (BP/ LN) - Q4 2022 (USD): Adj Net 4.07bln (exp. 3.87bln). Revenue 52.2bln (exp. 42.1bln). Co. executes an additional share buyback programme of USD 1.5bln. Capital expenditure in the full year USD 12.8bln. Co. now expects 2022 capital expenditure of USD 14-15bln and continues to expect a range of USD 14-16bln per annum through 2025. During 2021 BP generated surplus cash flow of USD 6.3bln. Q4 dividend USD 0.0546/shr (prev. 0.0525/shr Y/Y). In terms of outlook, BP says "We expect oil supply and demand to move back into balance through 2022; however with lower levels of spare capacity price volatility is likely... we expect first-quarter 2022 reported upstream production to be lower than fourth-quarter 2021 reflecting base decline and higher maintenance. Within this, we expect production from both oil production & operations and gas & low carbon to be lower". (Newswires/ BP IR)

Danske Bank (DANSKE DC) - Chairman Dybvad will not stand for reelection. (Newswires)

Evolution Gaming (EVOB SS) - Co. and Fanduel are extending their US live casino partnership, becoming Fanduel's sole provider of live dealer table games. (Newswires)

Getlink (GET FP) - January Truck shuttle traffic +38% YY. (Newswires)

Hugo Boss (BOSS GY) - CEO said they intend to at-least double sales by 2025, via Sueddeutsche Zeitung. (Newswires)

Just Eat Takeaway (JET LN) - Co. announces a delisting from Nasdaq to reduce complexity and costs. The Company’s main considerations for the voluntarily delisting are the low trading volumes of the Company’s ADRs on Nasdaq and the low proportion of the Company’s total share capital held via ADRs on Nasdaq. (Just Eat Takeway)

Micro Focus (MCRO LN) - FY21 (USD): Revenue 2.9bln (prev. 3.0bln Y/Y) Adj. EBITDA 1.04bln (prev. 1.19bln Y/Y). (Newswires) 

Ocado (OCDO LN) - FY21 (GBP): Revenue 2.49bln (exp. 2.56bln); Retail 2.23bln (prev. 2.19bln), International Solutions 66.6mln (prev. 16mln). EBITDA 61mln (exp. 61mln), Pre-Tax -176mln (exp. -213mln). Did not declare a dividend. Do not expect Ocado Re:Imagined to have a material impact on FY22 results. (Ocado)

Orange (ORA FP) - Co. is said to be in talks to merge its Spanish operations with Lorca Telecom's Masmovil, according to reports. (Expansion)

Outokumpu (OUT1V FH) Q4 (EUR) – Revenue 2.21bln (exp. 2.14bln), EBITDA 314mln (exp. 332mln), EBIT 191mln (exp. 271mln), EPS 0.35 (exp. 0.43), proposes a FY21 dividend of 0.15/shr (exp. 0.17/shr). (Newswires)

Scor (SCOR FP) - Co. notes of strong growth in both P&C businesses. Co. expects a positive market trend. (Newswires) 

Spie (SPI FP) - BpiFrance acquired a 5% stake in the Co. (Newswires)

Stellantis (STLA IM/FP) - Deal with the Italian gov't regarding the planned Termoil gigafactory could be signed next week, via La Repubblica. (Newswires)

SSE (SSE LN) - Q3 (GBP): Upgrading FY expectations for adj. EPS to ≥0.90 (prev. ≥83); reflects the strength and stability provided by SSE's balanced mix of regulated and market facing businesses. Intends to recommend a FY dividend of 0.81/shr. Refreshing four core business goals for 2030, aligned to the UN’s Sustainable Development Goals. (SSE)

Yara (YAR NO) Q4 (USD) – Revenue 5.03bln (exp. 5.7bln), EBITDA 765mln (exp. 956mln). FY dividend of 30/shr, total of 58/shr in paid and proposed cash returns for FY. (Newswires)

Coloplast (COLOB DC) initiated with Buy at Jefferies

Generali (G IM) initiated with Equalweight at Morgan Stanely

Hannover Re (HNR GY) initiated with Overweight at Morgan Stanley

Hiscox (HSX LN) initiated with Overweight at Morgan Stanley

Poste Italiane (PST IM) initiated with Overweight at Morgan Stanely

08 Feb 2022 - 07:10- EquitiesGeopolitical- Source: Newsquawk