Additional European Equity News

Air France (AF FP) – Bas Brouns to succeed Erik Swelheim as CFO from April 2024. (Newswires)

Andritz (ANDR AV) – Co. and SSE Suomen are to collaborate on the construction of a renewable methanol plant in Finland. (Newswires)

AstraZeneca (AZN LN) -To acquire Icosavax (ICVX), including potential first-in-class RSV and hMPV combination vaccine with positive Phase II data. At a price of USD 15/shr alongside 5/shr milestone; combined consideration of 1.1bln. (AstraZeneca)

Banco BPM (BAMI IM) – 2026 Strategic Plan (EUR): Net Profit >1.5bln, Operating Income 5.4bln, NII 3.05bln. 2024 dividend distribution of 1.3bln. (Newswires)

Big Yellow Group (BYG LN) – Announces that it has obtained planning consent at appeal for a 58k sq ft storage centre in Epsom, London. (Newswires)

Capgemini (CAP FP) - Announces an agreement with InPost to simplify and increase delivery speed. (Newswires)

Getlink (GET FP) – Reports Nov passenger vehicle traffic, +2% Y/Y. (Newswires)

GSK (GSK LN) – Japan’s Ministry of Health, Labour and Welfare accepts Arexvy regulatory application to prevent RSV disease in adults aged 50-59 at increased risk. (Newswires)

Hannover Rueck (HNR1 GY) – Guides initial FY24 Net atleast EUR 2.1bln (exp. 2.1bln). (Newswires)

Merck (MRK GY) downgraded to Neutral from Outperform at Exane BNP

Nel (NEL NO) – To sell 11.7mln Everfuel shares to HyVC ApS, owned by Itochu Corp and Osaka Gas, for NOK 116.6mln. (Newswires)

Nexi (NEXI IM) - F2i has offeed EUR 600-700mln to purchase the digital banking assets of the Co., via MF. (Newswires)

Nokia (NOKIA FH) - Acquires privately-held provider of tactical communication products Fenix. No terms disclosed. (Newswires) 

Repsol (REP SM) - Concluded its buyback programme. (Newswires)

Renault (RNO FP) – Co. has decided to sell a part of Nissan shares (7201 JT)) that are held in a French trust, representing around a 5% of Nissan capital. Sale would result in a disposal value of EUR 765mln. Sale will be implemented as part of a share buyback programme announced by Nissan on December 12th and will be executed on December 13th. Renault is to sell up to 211mln Nissan shares at JPY 568.5/shr (vs JPY 568.5/shr close on Tuesday). (Newswires)

Rio Tinto (RIO LN) - ERA expects to record a larger provision of circa. AUD 2.3bln regarding the Ranger uranium oxide mine. (Newswires)

Signify (LIGHT NA) – Proposes to reappoint Eric Rondolat as CEO. (Newswires)

Saint-Gobain (SGO FP) – Co. and CVE sign a major renewable electricity supply agreement in South Africa. (Newswires)

Solvay (SOLB BB) resumed with Equal Weight at Morgan Stanley

Telecom Italia (TIT IM) - Swisscom's (SCMW SW) Fastweb and KKR are discussing potential investment within TIM's NetCo, via Il Sole 24. (Il Sole 24)

TotalEnergies (TTE FP) – Acquires three electricity business startups, signed commercial contracts with ten others. To integrate the software platform developed by Nash Renewables. (Newswires)

UK Firms – FCA has today written to investment platforms and SIPP operators setting out its concerns on the way they deal with any interest earned on customers’ cash balances. (FCA)

Vinci (DG FP) – Sees FY25 Cobra Revenue > EUR 7.5bln. (Newswires)

Unilever (ULVR LN) – UK CMA will scrutinise “green” claims made by Unilever about certain household essentials such as a number of cleaning products and toiletries. (Newswires)

Airbus (AIR FP) reiterated with Overweight at JP Morgan

Babcock (BAB LN) reiterated with Overweight at JP Morgan

Capgemini (CAP FP) reiterated with Overweight at JP Morgan

Dassault Systems (DSY FP) reiterated with Overweight at JP Morgan

Hexagon (HEXAB SS) reiterated with Neutral at JP Morgan

Legrand (LR FP) downgraded to Equal Weight from Overweight at Morgan Stanley

Rheinmetall (RHM GY) reiterated with Overweight at JP Morgan

Saab (SAAB SS) upgraded to Buy from Neutral at Citi

Sage (SAGE LN) reiterated with Overweight at JP Morgan

Safran (SAF FP) reiterated with Overweight at JP Morgan

SAP (SAP GY) reiterated with Overweight at JP Morgan

Siemens Energy (ENR GY) reiterated with Underweight at JP Morgan

Solvay (SOLB BB) initiated with Neutral at BNP Paribas

Thales (HO FP) cut to Neutral from Buy at Citi

12 Dec 2023 - 07:38- Research Sheet- Source: Newsquawk