Additional European Equity News

Atos (ATO FP) - Creditors under the EUR 1.5bln term loan A maturing in January 2025 (the “Term Loan A“) and the EUR 900mln revolving credit facility maturing in November 2025 (the “RCF”) would be offered the opportunity to participate in the New Secured Financings exclusively in the form of bank-type loans and facilities (term loan, new revolving credit facility (RCF), and/or receivables financing/factoring, as well as through new bank guarantee lines) on terms which remain to be determined, for a total amount of EUR 750mln (of which EUR 300mln guarantees). (Atos)

Alstom (ALO FP) - Announces the success of the share capital increase with preferential subscription rights of EUR 1bln, marking the final step of the announced EUR 2bln deleveraging plan; will terminate EUR 2.25bln credit facility agreement on settlement of share capital increase. (Newswires) 

Crest Nicholson (CRST LN) - HY: Interim dividend at 1p/shr. Says build cost inflation has moderated further from mid-single digit percentage to flat Y/Y. Spring selling season has started well within positive housing indicators and improving macro backdrop. (Newswires) 

Halma (HLMA LN) - FY (GBP): Revenue above 2bln, +10% Y/Y, PBT 396.4mln, +10% Y/Y. Recommending a 7% increase in final dividend to 13.2p/shr. Sees FY adj. EBIT margin of around 21%, middle of target range. (Newswires) 

Legal & General (LGEN LN) - Commencement of share buyback. (Newswires) 

Shell (SHEL LN) - Temasek is set to finalise a deal with Shell in the coming days for the sale of Pavilion Energy, via Reuters citing sources. 

Stellantis (STLAM IM/ STLAP FP) - Reiterates 2024 guidance. Capital return for 2024 delivering more than EUR 7.7bln in dividends and buybacks in 2024. In 2025, will target the upper range of its 25-30% dividend policy vs. 25% in recent years. H1 outlook of 10-11% AOI margin, with industrial FCF visibly below the prior year. (Newswires)

Soitec (SOI FP) - Extends partnership with with UMC to provide with UMC to provide leading engineered substrates for industry's first 3D IC solution for RF-SOI. (Newswires) 

St. James's Place (STJ LN) - CFO succession; Caroline Waddington to succeed Craig Gentle as CFO. (Newswires) 

Wise (WISE LN) - FY (GBP): Revenue 1.05bln (exp. 1.31bln), Pretax profit 481.4mln (exp. 457.7mln), Adj. EBITDA 573mln (exp. 528.8mln). (Newswires) 

Virgin Money UK (VMUK LN) - Sees 5-10% growth across target lending segments of business and unsecured lending in FY24, as prev. guided. Continue to expect NIM to be in 190-195bps range for FY24, with NIM lower in H2 vs. H1. Amid proposed acquisition by Nationwide, Co. has deferred certain restructuring activities. Expect there to be headwinds through H2, remain well placed to deliver growth in target segments. 

13 Jun 2024 - 07:25- EquitiesResearch Sheet- Source: Newsquawk