Additional European Equity News

BT (BT/A LN) - Bharti Global agrees to purchase a ~24.5% stake in BT, but clarifies it has no intention of making an offer to acquire BT. (Newswires) 

BBVA (BBVA SM) / Sabadell (SAB SM) - US regulator SEC said if the merger does not go ahead, BBVA would keep Sabadell listed on the stock exchange for atleast 12 moths, according to El Economista. (El Economista)

BMW (BMW GY) - The Times writes that demand for BMW's electric cars YTD has far superseded the number it sold last year, and is within weeks of taking the top spot from Tesla (TSLA). (The Times)

Esker (ALESK FP) - Co confirmed being in discussions with Bridgepoint about a potential offer; no certainty about deal being completed. (Newswires)

JDE Peets (JDEP NA) - Announced that Luc Vandevelde will step down as interim CEO; Scott Gray to assume role. (Newswires) 

Hannover Re (HNR1 GY) - H1 (EUR): Net Income 1.2bln, +21% Y/Y, Reinsurance Rev. 12.9bln, +5.2% Y/Y. Large losses in property and casualty reinsurance within budget. FY24 guidance confirmed; appointed Brona Magee to succeed Klaus Miller on the exec. board. . Shares +2.4% pre-market

Holcim (HOLN SW) - Acquires 2 local cement factories in Peru, worth around USD 100mln. (Newswires) 

UK Housing - Ministers are preparing to limit the amount of profit that can be made from the sale of land to fulfil its new homes pledge, according to The Times. (The Times)

Smith & Nephew (SN/ LN) - To implement director's remuneration policy, restricted share plan on terms approved at AGM. (Newswires) 

Salzgitter (SZG GY) - H1 (EUR): Sales 5.2bln (prev. 5.8bln Y/Y), EBIT 11.mln (prev. 211mln Y/Y). Short-term profitability improvement measures initiated. Anticipates cash inflow of EUR 125mln from H2, from the sale of Mannesmann stainless tubes. (Newswires)  

Standard Chartered (STAN LN) - Co. folds industries coverage into M&A advisory, according to a source, cutting over 20 senior banking roles worldwide according to Reuters. (Newswires) 

Diageo (DGE LN) upgraded to Sector Perform from Underperform at RBC

BE Semiconductor (BESI NA) upgraded to Buy from Hold at Stifel 

JD Sports (JD/ LN) downgraded to Sell from Hold at Deutsche Bank 

US Stocks - Morgan Stanley adds Public Service Enterprise Group Inc. (PEG), AbbVie (ABBV) and Northrop Grumman (NOC) to its "Fresh Money Buy List".

12 Aug 2024 - 07:08- EquitiesResearch Sheet- Source: Newsquawk