Additional European Equity News

Balfour Beatty (BBY LN) - Intends to repurchase up to GBP 125mln ordinary shares. (Newswires)

Chip Names/NAND Supply - Kioxia expects overall NAND shipments to rise by 10-15% in 2025, despite stagnant demand for mobile phones and PCs in the first half, DigiTimes reports. The company anticipates increased consumer purchases in H2, coupled with continued strong demand from enterprise clients. However, NAND supply is expected to fall short in H2 of 2025. (DigiTimes)

Deutsche Bank (DBK GY) - Reaffirms its financial targets to be achieved by 2025; sees rev. gains at all four main businesses; notes that bonus pool hits a decade high at EUR 2.5bln. (Newswires) 

Deliveroo (ROO LN) - FY (GBP): adj. EBITDA 129.6mln (exp. 129.8mln), sees it moving to 170-190mln range in 2025, adj. EBITDA margin 1.7%, sees margin target of 4%+ in the medium term, improving from 2026. CEO says Q1 trading has been good; does not see differences to latter part of 2024. (Newswires)

Gerresheimer (GXI GY) - Warburg Pincus and KKR are in talks to buy the Co., via Reuters. (Reuters)

Halma (HLMA LN) - Co. says they are on track for the 22nd consecutive year of record FY adj. Profit; organic revenue growth supported by order intake which remains ahead of revenue YTD; expects adj. EBIT margin modestly above 21% for FY-March 2025 (Newswires)

IG Group (IGG LN) - Q3 (GBP): Revenue 268mln (prev. 240.1mln Y/Y), acquisition of FreeTrade expected to close in April, received antitrust approval; remain confident in meeting FY25 consensus revenue and adj. EBT (Newswires)

Infineon (IFX GY) - Co. is capitalising on the shift towards high-voltage direct current power architectures in servers, driven by the surge in AI demand, DigiTimes reports. The company aims to enhance energy management efficiency to meet the growing needs of AI-powered data centres. The shift positions Infineon at the forefront of the server power transformation, the report adds. (DigiTimes)

Metal/Mining Names -  China has issued additional licenses allowing copper smelters to export copper tax-free, facilitating greater overseas sales, DigiTimes reports. This move is aimed at boosting local producers amid market disruptions, positioning China to leverage the global copper market at a time of upheaval, the report adds. (DigiTimes)

UK Stocks - UK PM Starmer outlined a speech he will deliver later on Thursday in the Telegraph, in which he said they are to target cutting the administrative costs of regulation by 25% and said the state has been blocking infrastructure projects. (Telegraph)

Leonardo (LDO IM) initiated with Buy at Jefferies 

Hensoldt (HAG GY) initiated with Underperform at Jefferies 

Julius Baer (BAER SW) initiated with buy at Goldman Sachs, price target CHF 77

Novo Nordisk (NOVOB DC) upgraded to Buy from Hold at Kepler

Schneider Electric (SU FP) upgraded to Buy from Sell at Goldman Sachs 

13 Mar 2025 - 07:00- MetalsEU Research- Source: Newsquawk