Additional European Equity News

Abrdn (ABDN LN) - CEO said the Co. is selling its Focus Solutions software business. (Newswires) 

AB Inbev (ABI BB) - Launched tender offer subject to USD 3bln offer cap. (Newswires) 

AstraZeneca (AZN LN) - Q3 (USD): Revenue 13.56bln (exp. 13.04bln), Core EPS 2.08 (exp. 2.01). 2024 guidance for Revenue and Core EPS growth upgraded to high-teens percentage growth (prev. mid-teens). Q3 Breakdown: China Revenue 1.67bln (prev. 1.45bln Y/Y) Product Sales 12.9bln (exp. 12.58bln) Alliance Revenue 0.56bln, +18%  Collaboration Revenue 59mln, -39%. China (regarding individual investigations into current & former employees). "If requested, will fully cooperate with authorities". "take matters in China very seriously"  The Company has not received any notification that it is itself under investigation. (Newswires) 

BAE Systems (BA/ LN) - Trading update: Operational and financial performance underpin group FY guidance, in line with the upgrade at half year. (Newswires) 

Convatec (CTEC LN) - Co. upgrades FY24 guidance; on track for double-digit growth in growth in adj. EPS and FCF. (Newswires) 

Drax (DRX LN) - Trading update: FY25 expectations for Adj. EBITDA around top end of analyst estimates. (Newswires) 

Fresnillo (FRES LN) - Update on Silverstream agreement with Penoles; Sabinas Mine facing operational difficulties impacting silver production. Possible significant adjustments to Silverstream agreement. (Newswires)  

Kerry (KYGA LN) - Proposed sale of Kerry Dairy Ireland for EUR 500mln. (Newswires) 

Mediobanca (MB IM) - CEO sees flat NII for the current FY. (Newswires)

Metro Bank (MTRO LN) - FCA fines the Co. GBP 16mln for financial crime failings. In its trading update; reconfirms all forward guidance. (Newswires)  

Nordex (NDX1 GY) - Receives order for more than 100 MW for a wind farm in Canada. (Newswires) 

Shell (SHEL LN) - Dutch Appeals court questions if Shell can continue to invest in new fossil fuel fields not part of the ongoing case. (Newswires) 

Tritax Big Box (BBOX LN) - Segro (SGRO LN) to purchase Tritax Eurobox assets for EUR 470mln. (Newswires) 

United Internet (UTDI GY) - 9m (EUR): Sales 4.66bln, +2% Y/Y. Confirms 2024 sales guidance. (Newswires)

Vodafone (VOD LN) - H1 (EUR): Revenue 18.3bln (exp. 18.3bln), EPS 0.05 (prev. 0.04 Y/Y), Adj. EBITDAaL 5.41bln (prev. 5.43bln Y/Y); FY25 guidance reiterated. Progressing with 3100 role reductions announced in Germany. Interim dividend at EUR 2.25/shr. (Newswires) 

Volvo Cars (VOLCARB SS) - Geely is reportedly considering selling additional shares in the car manufacturer Volvo Cars, according to information to Ekot. (Ekdot) Seen opening -2.5% to -3%.

Adecco (ADEN SW) downgraded to Neutral from Outperform at Morgan Stanley 

Renault (RNO FP) assumed with Overweight at Morgan Stanley

Stellantis (STLAM IM/STLAP FP) assumed with Overweight at Morgan Stanley

12 Nov 2024 - 07:11- ForexResearch Sheet- Source: Newsquawk