Additional European Equity News

Balfour Beatty (BBY LN) - FY (GBP): revenue 10.02bln (exp. 9.38bln), adj. Operating profit 248mln (prev. 228mln Y/Y); expects to buyback GBP 125mln shares; positive outlook with good short term visibility and significant potential in the medium/long term future (Newswires)

Drax (DRX LN) - Capacity market agreements of up to 458MW. (Newswires) 

Puma (PUM GY) - Q4 (EUR): Net Income -43.5mln (exp. 52mln, prev. -67.1mln Y/Y), Revenue 2.29bln (exp. 2.28bln, prev. 2.10bln Y/Y). By region: APAC +9.5%, America +6.5%, EMEA +14.6%. (Newswires) 

Legal & General (LGEN LN) - FY (GBP): Net Income 191mln (prev. 457mln Y/Y), Core Op. 1.62bln (prev. 1.53bln Y/Y). AuM 1.1tln at year-end. 2025-27: Targeting at >20% op. return on equity. Announces GBP 500mln buyback for 2025. Plans to return more than GBP 5bln within three years. (Newswires) 

Smith & Nephew (SN LN) downgraded to Neutral from Buy at UBS

Rolls-Royce (RR/ LN) - Won order to supply 2 MTU series 4000 generator sets for the European Commission (Newswires)

SAP (SAP GY) - Raised to buy from hold at Warburg, price target EUR 275  (Newswires)