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Additional European Equity News
BP (BP/ LN) - Trading statement: Upstream production in Q2 is now exp. to be broadly flat. Significantly lower realised refining margins, exp. to have adverse impact in range of USD 0.5-0.7bln. Sees Q2 results to include post tax adverse adj. items to assets impairments and provision in range of USD 1-2bln. (Newswires)
Exclusive Networks (EXN FP) - Confirms receipt of a non-binding indication of interest from a consortium of led by CR&R and Permira; indicative price of EUR 24/shr (vs. last close EUR 21.80). (Newswires)
Eurofins (ERF FP) - Muddy Waters remains short on the Co. (Newswires)
Getlink (GET FP) - Shuttle traffic 2024: June Leshuttle Freight carried 97,501 trucks, -5% Y/Y. (Newswires)
Indivior (INDV LN) - Business update: Q2 Net Revenue expectations and FY24 guidance to reflect continued adverse market dynamics impacting near-term; Sees Q2 Net Rev USD 295-303mln. To reduce headcount by approx. 130 employees. Expects USD 65mln in charges from Perseris action. (Newswires) Shares indicated lower by 10%.
Mercedes Benz (MBG GY) – Shares seen -1.6% in pre-market trade following price target cuts at Citi (to EUR 68 from EUR 72) and at HSBC (to EUR 82 from EUR 87). (Newswires)
OMV (OMV AV) - Q2 Refining Indicator margin Europe in USD/bbl at 7.00. (Newswires)
Page Group (PAGE LN) - Q2 Trading Update (GBP): Softening activity levels through the quarter. Holding headcount in advance of market recovery. Forward activity KPIS such as new jobs registered and new interviews softened during the quarter. Warns of lower annual profit; to be in region of 60mln (prev. 118.8mln Y/Y). (Newswires) Shares indicated lower by 15%
Shell (SHEL LN) - Seeks permission from South African Government to drill up to 5 wells in Northern cape ultra deep block in Orange basin-draft scoping report. (Newswires)
SSE (SSE LN) - Advance 2GW offshore windfarm in NL. (Newswires)
Stellantis (STLAM IM/STLAP FP) - Extends benchmark hybrid power trade to more nameplates to satisfy European customer demand. On EU30 Hybrid models. Expects an increase in customer take rate with upcoming new launches. (Newswires)
Saab (SAABB SS) - Received Msohrad Air defence order from Lithuania for approx. SEK 1.3bln. (Newswires)
Skanska (SKAB SS) - Conducts overdecking near Slussen in Sweden for about SEK 2bln. (Newswires)
Thales (HO FP) - Won contract from Naval Group. (Newswires)
Vistry (VTY LN) - Trading Update: Group is well positioned to deliver more than 18k (prev. 16.1k Y/Y) completions and FY profits ahead of last year in FY24. Sees HY adj. Op. Profit +10% Y/Y, Adj. Profit +7% Y/Y. (Newswires)
Wizz Air (WIZZ LN) - CEO said making assumptions that Airbus (AIR FP) will be delayed. Planning for 20% capacity growth next yea; 20-25% growth the following year. Get about 3 planed on avg. a month, they might be delayed by a month. 5 aircraft fewer or more in a year will not be a huge difference. (Newswires)
Wood (WG/ LN) - Wood awarded major contract for Shell's prelude; secures 6 year contract with Shell (SHEL LN). (Newswires)
Colonial (COL SM) resumed with Underweight at Morgan Stanley
Currys (CURY LN) upgraded to Buy from Hold at Deutsche Bank
CRH (CRH IM) upgraded to Overweight from Equal Weight at Morgan Stanley
Kingfisher (KGF ID) upgraded to Buy from Hold at Deutsche Bank
Naturgy (NTGY SM) upgraded to Sector Perform from Underperform at RBC
09 Jul 2024 - 07:26- EquitiesResearch Sheet- Source: Newsquawk
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