Additional European Equity News

ACC – The battery manufacturer has secured financing for the development of three European “gigafactories”, in France, Germany & Italy. (Newswires) Co. is co-owned by Mercedes-Benz (MBG GY), Stellantis (STLAM IM/STALP FP) & TotalEnergies (TTE FP).

ASM International (ASM NA) - CEO Benjamin Loh is to retire and Hichem M'Saad is said to succeed him as CEO. (Newswires)

BPER Banca (BPE IM)/Unipol (UNI IM) – Reportedly the Cos could target both Popolare di Sondrio (BPSO IM) & BMPS (BMPS IM), according to Il Messaggero with June cited as a potential time for M&A to recommence; no other details provided in the article. (Il Messaggero)

Defence Names - Former US President Trump said he would "encourage" Russia to attack any NATO member country that didn’t meet its financial obligations to the defence alliance, while a White House spokesperson said encouraging invasions of allies is appalling and unhinged. (Newswires) 

Frasers (FRAS LN) – Intends to commence a new share buyback programme. (Newswires)

Galp Energia (GALP PL) – Q4 (EUR): Adj. Net 284mln (exp. 174mln), Adj EBITDA 720mln (exp. 756mln), Revenue 5.13bln (prev. 6.19bln Y/Y). (Newswires)

GSK (GSK LN) – FDA fast track designation for Bepirovisren. (Newswires)

L'Oreal (OR FP) - CEO expects to beat market growth of 5-6% this year, according to BFM Business. (Newswires)  

Latour (LATOB SS) – Q4 (SEK): Industrial Op. 856mln (prev. 929mln Y/Y), Industrial Revenue 6.4bln (exp. 6.4bln). (Newswires)

Heathrow Airport – January: 6mln passengers, +9.4% Y/Y; 196k on ‘Blue Monday’. (Newswires)

National Grid (NG/ LN) – Co. has come to an agreement with Constellation (CEG) which would allow it to continue to operate the Everett terminal for six years. (Newswires)

Nuclear Power – UK government is in talks with Hitachi (6501 JT) to take control of a site in Wales and is seeking a new private sector partner to develop a power station there. (FT)

SSP (SSP LN) - Acquires privately-owned airport F&B operator Airport Retail, no terms disclosed. (Newswires) 

Terna (TRN IM) – Co. is reportedly considering a bid for assets owned by Enel (ENEL IM) and Acea (ACE IM), via Bloomberg; potentially valued at EUR 1.5bln. (Newswires)

Tritax Big Box (BBOX LN) - Has reached an agreement on key terms over a possible offer for UKCM. Possible offer implies a value of 71.1p/shr and approx. GBP 924mln for entire issued share capital of UKCM. Exchange ratio 0.444 new ordinary BBOX shares per UKCM share. (Newswires)

Adyen (ADYEN NA) upgraded to Buy from Sell at Citi

BP (BP/ LN) downgraded to Reduce from Add at AlphaValue

HSBC (HSBA LN) downgraded to Underperform from Market Perform at Keefe Bruyette

Orsted (ORSTED DC) downgraded to Hold from Buy at Redburn Atlantic

12 Feb 2024 - 07:36- EquitiesResearch Sheet- Source: Newswires