Additional European Equity News

BAE Systems (BAE LN) – Group guidance confirmed, in-line with HY upgrade. 2023 interim dividend of GBP 0.115/shr. (Newswires)

British Land (BLND LN)  - HY (GBP): Underlying Profit 142mln (prev. 138mln Y/Y), IFRS EPS -6.6p (prev. -3.5p Y/Y), Underlying EPS 15.2p (prev. 14.7p), Dividend/shr 12.16p (prev. 11.60p Y/Y). Comfortable with current market expectations for FY23. (British Land)

BMPS (BMPS IM) - Fitch upgrades the Co. to BB from B+, outlook stable. (Newswires)

CNH Industrial (CNHI IM) – Syngenta Group and CNH Industrial connect digital applications to better serve farmers. (Newswires)

Evolution (EVOG SS) - CEO Carlesund purchased SEK 1mln of shares in the Co.. (Newswires)

GSK (GSK LN) - GSK receives positive CHMP opinion recommending momelotinib for myelofibrosis patients with anaemia. Decision on EU marketing authorisation expected for momelotinib by early 2024. (Newswires) 

Heathrow Airport – October: 2.2mln passengers passed through during half-term. 7mln passengers in the month. (Newswires)

IDS (IDS LN) - Receives GBP 5.6mln fine from Ofcom after missing delivery targets. (Newswires) 

Lufthansa (LHA GY) - ITA Airways is in talks with several banks for a EUR 300mln loan to finance its fleet expansion, via Bloomberg. (Bloomberg) 

Mediobanca (MB IM) - Launches a buyback worth EUR 200mln. 

Orpea (ORP FP) – Launches a share capital increase for circa. EUR 3.9bln. Price of EUR 0.0601/new-share, 999 new-shares for one existing. New shares to be issued as part of equitization capital increase is 3.38x higher than the subscription price of new shares to be issued as part of Groupement capital increase. (Newswires)

Outokumpu (OUT1V FH) - Acquires a share of Swedish Envigas AB to reduce direct emissions with biomass-based raw material. (Newswires) 

Phoenix Group (PHNX LN) – Upgrades near-term cash generation targets, to GBP 1.8bln (prev. guided 1.3-1.4bln). (Newswires)

SBB (SBB SS) – 9-month (SEK): Rental Income 3.5bln (prev. 4.05bln), Operating Surplus 2.5bln (prev. 2.8bln), PBT -17.3bln (prev. 2.8bln). Major actions planned to strengthen financial position, reduce dependence on individual capital sources and create optimal financing opportunities. Portfolio values -10% in Q3, Q/Q. Maintain cautious stance on dividends and coupon payments. Occupancy rates and rent levels are increasing. (Newswires)

Skanska (SKAB SS) – Renovates hospital in USA for USD 98mln. (Newswires)

Stellantis (STLAM IM/STLAP FP) - Reportedly emailed 15k staff in Italy asking if they would consider leaving with a generous severance package, via Correier della Sera. (Newswires)

Telecom Italia (TIT IM) - Fitch has placed the Co. on rating watch Positive re. fixed network disposal. (Newswires)

Tullow Oil (TLW LN) -  Secures a USD 500mln 5yr debt facility, available for 18-months. Entered into oil marketing and offtake contracts with Glencore (GLEN LN). (Newswires)

TotalEnergies (TTE FP) – Acquires 1.5GW of flexible power generation capacity in Texas for USD 635mln. (Newswires)

United Internet (UTD GY) – Tele Columbus (TC1 GY) has received a EUR 200mln capital injection from a Morgan Stanley (MS) and United Internet infrastructure fund, to be used to extend existing loans/bonds until 2028. (Newswires)

Valeo (FR FP) – To supply electric powertrain for Mahindra & Mahindra EV programme, order close to USD 1bln. (Newswires)

Verallia (VRLA FP) - Subject to an investigation by the Italian Antitrust Authority concerning alleged anticompetitive conducts in glass wine bottle production. (Newswires) 

Wihlborgs (WIHL SS) – Signs agreement with Nowaste Logistics for 6900 square-meter. (Newswires)

Vodafone (VOD LN) – Announces strategic partnership with Accenture which is to invest EUR 150mln in new shared services entity for an undisclosed minority interest. Elsewhere, reportedly considering selling its Italian business or joining it with a rival, via Il Sole 24. (Newswires) 

13 Nov 2023 - 07:15- Research Sheet- Source: Newsquawk