Additional European Equity News

Aena (AENA SM) – To provide an updated version of the 2022-26 strategic plan on March 7th. (Newswires)

Bellway (BWY LN) – H1 (GBP): Housing Revenue 1.25bln (exp. 1.32bln). Guides initial FY24 Volume output 7.5k homes. Improvement in affordability through H1 also led to encouraging levels of customer enquires in traditionally quieter winter periods. (Newswires)

BP (BP/ LN) – Co. says it is marking progress on restoring the Whiting, Indiana (435k BPD) refinery to normal operations following a power outage on February 1st. (Newswires)

Casino (CO FP) – Co. has come to an agreement with Carrefour (CA FP) regarding the sale of 25 hypermarkets & supermarkets, disposals to occur end-April. (Newswires)

Food Delivery Names – Grab Holding (GRAB) and GoToGroup have restarted talks for a potential merger after years of losses for both companies, according to Bloomberg. (Bloomberg)

Hermes (RMS FP) - Q4 (EUR): Revenue 3.36bln (exp. 3.29bln). Sales at constant FX +17.5% (exp. +13.7%). FY recurring operating income 5.65bln (exp. 5.52bln). Proposes exceptional dividend of EUR 10/shr.  Q4 Americas revenue +21.6% (exp. 12.1%). Q4 total Europe revenue +18.6% Y/Y. Q4 total Asia revenue +14.8% Y/Y. Confirms guidance. (Newswires) 

L’Oreal (OR FP) – Signs an agreement for an exclusive worldwide license agreement with Miu Miu, subject to regulatory approval. (Newswires)

MedioBanca (MB IM) - CEO sees FY EPS growth at 20%. (Newswires) 

Telecom Italia (TIT IM) – CEO met with top representatives of Vivendi (VIV FP) via Reuter citing sources. (Newswires)

Tesco (TSCO LN) – Barclays (BARC LN) to acquire Tesco Retail Banking business and enters into a long term strategic partnership with Tesco. Completion expected to occur during H2’24. Will not materially impact Tesco, and Tesco will announce an incremental share buyback. (Newswires)

Thule (THULE SS) – Q4 (SEK): Net +24mln (prev. -16mln Y/Y), Adj. EBIT 53mln (prev. 5mln Y/Y), Revenue 1.57bln (prev. 1.65bln Y/Y). EBIT Margin 3.4% (prev. 0.2% Y/Y). (Newswires)

Yara International (YAR NO)-  Q4 (USD): Net 244mln (exp. 56mln), Adj. EBITDA 576mln (exp. 374mln), Revenue 3.58bln (exp. 3.91bln). (Newswires)

Enel (ENEL IM) downgraded to Sector Perform from Outperform at RBC 

Verbund (VER AV) downgraded to Underperform from Neutral at Oddo

09 Feb 2024 - 07:10- Research Sheet- Source: Newsquawk