Additional European Equity News

Aviva (AV/ LN) - Completion of acquisition of Probitas; proposed deal for GBP 249mln. (Newswires) 

Barratt Developments (BDEV LN) - Trading update: Total home completions at upper end of guidance range for FY 24 at 14,004. FY adj. PBT is anticipated to be slightly ahead of our prev. expectations. Forecasts a 7% Y/Y decline in its homebuild targets for FY25. (Newswires) 

Delivery Hero (DHER GY) - Delivery app, Baemin, backed by Delivery Hero, to raise commission fee for restaurants, via Korea Times. (Korea Times)

Direct Line (DLG LN) - Refreshed strategy with objective of establishing DLG as customers insurer of choice and delivering profitable growth. Reiterated target of at least GBP 100mln of gross run-rate cost savings by exit 2025. DLG to exit pet, travel and other personal lines businesses (Newswires) 

Defence names – UK PM Kier Starmer has told NATO allies that the UK has a “cast iron commitment” to lifting the UK’s defence spending to 2.5% of GDP, according to Sky News. (Sky News)

JD Wetherspoon (JDW LN) - Trading Update: LFL Sales +5.8% in 10 weeks to July 2024; continues to expect profits in current FY to be in line with market expectations (Newswires) 

Maersk (MAERSK DC) - Launched new warehouse in Denmark. (Newswires)

SSP (SSP LN) - Q3 Trading Update: Sales +16% Y/Y, LFL Sales +6%. Expectations for FY remains unchanged. (Newswires) 

Telefonica (TEF SM) - Co. said it has signed a new mobile agreement with Digi for next 16 years. (Newswires) 

Travis Perkins (TPK LN) - Pete Refern appointed as Director and CEO of Co. (Newswires) 

UBS (UBSG SW) – Bank of America (BAC) has hired UBS’s global head of insurance investment banking Matsuzaka, according to Bloomberg citing sources. (Bloomberg)

IAG (IAG LN) upgraded to Overweight from Underweight at Morgan Stanley

Next (NXT LN) upgraded to Neutral from Sell at Citi

10 Jul 2024 - 07:07- EquitiesData- Source: Newsquawk