Additional European Equity News

ArcelorMittal (MT NA) - Kazakhstan state investment fund Qazaqstan Investment Corp. acquires ArcelorMittal Temitau unit and Aktau pipe plant for USD 286mln. (Newswires) 

Anglo American (AAL LN) – Performance Update, unlocks value through operational, cost and capital discipline. 2023 Guidance: Production +3%, Quellaveco copper ramp-up and solid iron ore production, offset by ore grades in Chile and lower PGMs and diamonds production. 2024 Guidance: Production expected -4%, rescheduled to enhance value and cut unit costs which are expected to be -2% as cost discipline more than offsets inflation. Capex USD 5.7bln (prev. guided 6.5bln), includes Woodsmith. 2025 Guidance: Production expected -3%, to enhance value/cut unit coasts and amid scheduled maintenance. Capex USD 5.7bln (prev. guided 6.1bln). 2026 Guidance: Production expected +4%. (Newswires)

Berkeley Group (BKG LN) - H1 (GBP): 298mln (exp. 251mln), Op. 232mln (exp. 221mln), Revenue 1.19bln (exp. 1.13bln). Sees near term pre-tax ROE will be above 15% for period as a whole, but is likely to fall slightly below this for FY26. (Newswires)

Flutter (FLRT LN) – Update on its US listing: Working towards an effective listing date for its ordinary shares on the NYSE. Notes Stoxx’s decision to remove Flutter from the Euro Stoxx index will be effective 18th December. (Newswires)

Finnair (FIA1S FH) – Nov Load Factor 71.0%, -0.5% Y/Y. (Newswires)

Grafton (GFTU LN) - Extension of share buyback programme by GBP 50mln over five months. (Newswires) 

IG Group (IGG LN) – Appoints Breon Corcoran as CEO, effective Jan 29. (Newswires)

Poste Italiane (PST IM) - Italian Treasury is considering selling its 29% stake in the Co. in 2024, via Il Sole 24; via a public offering which may be worth EUR 3.8bln. (Il Sole 24)

Relx (REL LN) - Announces GBP 150mln share buyback program. (Newswires) 

Adyen (ADYEN NA) upgraded to Buy from Sell at Citi

Galp Energia (GALP PL) downgraded to Underweight from Neutral at JP Morgan 

OMV (OMV AV) upgraded to Neutral from Underweight at JP Morgan

Lloyds (LLOY LN) upgraded to Hold from Sell at Redburn Atlantic

Nexi (NEXI IM) upgraded to Buy from Neutral at Citi

RELX (REL LN) downgraded to Hold from Buy at Kepler Cheuvreux

Svenska Handelsbanken (SHBA SS) downgraded to Neutral from Buy at UBS 

08 Dec 2023 - 07:15- EquitiesResearch Sheet- Source: Newsquawk