Additional European Equity News

3i (III LN) – FY (GBP): Dividend 0.61, Net asset value 20.1bln. (Newswires)

Airtel Africa (AAF LN) – FY total customer base grew by 9% to 152.7mln. Board approved share buyback of up to USD 100mln, over 12 months. (Newswires)

Aston Martin (AML LN) – Issue of equity to satisfy employee share award. (Newswires)

Balfour Beatty (BBY LN) – Expects an increase in profit from operations in 2024. Continues to expect 2024 average cash to be inline with 2023. (Newswires)

BAE Systems (BA/ LN) – Trading Update: Trading has been in line with expectations thus far and keeps FY24 guidance unchanged. Says defence spending is high across our market sectors and key markets. (Newswires)

BE Semiconductor (BESI NA) - Announced order for 26 hybrid bonding systems. Anticipate receiving additional hybrid bonding orders from other customers in Q2'24. (Newswires) 

Harbour Energy (HBR LN) - Q1 2024 production avg. 172 KBOEPD (prev. 202 KBOEPD Y/Y). Expects to generate significantly higher FCF next year resulting in a net cash position by year end 2025. (Newswires)  

John Wood (WG/ LN) – Q1 Trading Update: Reiterates EBITDA guidance for 2024 and 2025. Adj. EBITDA +4%, Revenue 1.35bln, -6%. (Newswires)

ITV (ITV LN) – Q1 Trading Update: Continues to make good progress and remains on track to meet 2026 targets. Revenue -16%, Advertising Revenue +3%. FY24 revenue expected to be broadly flat with strong pipeline of programmes heavily weighted to H2. Previously guided cost savings expected to be delivered. (Newswires)

Imi (IMI LN) - Trading update: Organic revenue +4%, FY guidance confirmed. (Newswires) 

Nexi (NEXI IM) - CEO said "we are very relaxed" about BBVA/Sabadell deal. Note: Nexi and Sabadell are in a strategic partnership. 

Ocado (OCDO LN) – Gavin Patterson has been appointed as independent non-executive director. (Newswires)

Sabadell (SAB SM)/ BBVA (BBVA SM) - Sabadell responds to BBVA's hostile takeover bid, with the Sabadell board restating its position that it has already rejected BBVA's proposal. (Newswires) Reminder, on 6th May Sabadell rejected the "Unsolicited, Indicative and Conditional Proposal" from BBVA which was presented on 30th April

UniCredit (UCG IM) - To start second tranche of 2023 buyback programme of up to 200mln shares. (Newswires) 

Watches of Switzerland (WOSG SW) - Acquisition of Roberto Coin for a total consideration of USD 130mln. (Newswires) 

ArcelorMittal (MT NA) initiated with Neutral at Goldman Sachs 

09 May 2024 - 06:53- EquitiesResearch Sheet- Source: Newsquawk