Additional European Equity News

Airbus (AIR FP) - CEO said all A320 planes affected by the recent software problem had their software changed (Newswires)

Berkeley (BKG LN) - HY (GBP): PBT 254mln (prev. 275.1mln Y/Y). "We remain on track to meet our pre-tax profit guidance of £450 million for this year and a similar level for FY27, along with our target for a strong net cash position". (Berkeley)

First Group (FGP LN) - Co. named as the preferred operator for the London Overground suburban rail network contract by Transport for London. The contract is estimated to have a value of around £3bn. (First Group)

GSK (GSK LN) - GSK’227, a B7-H3-targeted antibody-drug conjugate, granted Orphan Drug Designation in small-cell lung cancer by the US FDA . (GSK) 

HSBC Holdings (HSBA LN) - HSBC CEO Georges Elhedery said that before his restructuring began 15 months ago, too few executives were fully accountable, with co-head roles letting managers avoid responsibility. He has since nearly halved the operating committee and removed co-management positions to ensure clearer ownership of decisions at Europe’s largest lender. (Bloomberg) 

TUI (TU1 GY) - Q4 (EUR): EBIT 1.26bln (exp. 1.28bln, prev. 1.25bln Y/Y), Revenue 9.40bln (exp. 9.52bln, prev. 9.43bln Y/Y). FY Outlook: Adj. EBIT Growth 7-10%. (TUI) 

Entain (ENT LN) initiated with Buy at Kepler Cheuvreux

Ferrari (RACE IM) initiated with Equal Weight at Morgan Stanley