Additional European Equity News

ASML Holding (ASML) - Received a postive mention in Barron's; the newspaper said that despite ASML facing a slump due to China's stockpiling of equipment and challenges from Intel's (INTC) chip expansion, as well as weak demand for consumer devices, its growth is likely to return, depending on demand and competition from Intel and Samsung (005930 SK).

Bayer (BAYN GY) - Intends to initiate a Phase III trial for Bemdaneprocel, the investigational cell therapy for Parkinson's disease; expected to begin in H1-2025. (Newswires)

Entain (ENT LN) - Reiterates FY24 EBITDA guidance. Expects group EBITDA to be at the top end of GBP 1.04-1.09bln guidance range. Notes of customer-friendly US sports results during Q4, particularly in Oct/Dec. (Newswires) 

Ilva (Italian steelmaker) - Co. has reportedly received 10 purchase offers, according to Italian administrators cited by Bloomberg. (Bloomberg)

Galp Energia (GALP PL) - Carioca and da Silva were appointed as interim co-CEOs. (Newswires)

GSK (GSK LN) - Entered an agreement to buy IDRX; GSK to pay up to USD 1.15bln, comprises of an upfront payment of USD 1bln. (Newswires) 

Norsk Hydro (NHY NO) - Acquired remaining shares in Hydrovolt for NOK 78mln. (Newswires) 

Plus 500 (PLUS LN) - FY (USD): Revenue 768mln (prev. 726.5mln Y/Y). Financial performance has been ahead of market expectations. 

PageGroup (PAGE LN) - Q4 Trading Update: Gross Profit 196.7mln, -13% Y/Y. Expects op. profit at lower end of a 49-58.5mln range. Ongoing challenging market conditions across the group and is further worsening in Europe. (Newswires) 

Serco (SRP LN) - Mark Irwin to retire and Kirby to be appointed Chief Exec Designate; to replace on 1 March 2025. Confirms earlier reports.

Stroeer SE (SAX GY) - Confirms discussions with interested parties regarding Ströer's core assets. (Stroeer)

UK Airport - Heathrow repots Dec passengers 7.08mln, +5.6% Y/Y. Forecasts 84.2mln passengers in 2025. (Newswires) 

UK Supermarkets - JPMorgan says to buy the dip in Tesco (TSCO LN) and Sainsbury's (SBRY LN). (Newswires)

Zealand Pharma. (ZEAL DC) - CEO says Petrelintide could be part of the "leading class" of weight loss/obesity drugs, early data suggests that patients could lose 15-20% of body weight. (Bloomberg)

BBVA (BBVA SM) upgraded to Buy at BofA

Richemont (CFR SM) upgraded to Buy at TD Cowen

DWS (DWS GY) downgraded to Neutral from Buy at Goldman Sachs

13 Jan 2025 - 07:10- EquitiesEU Research- Source: Newsquawk