Additional European Equity News

Anglo American (AAL LN) - Final bids for Co's Australian coal assets are due today, with Yancoal (YAL AT), Stanmore (SMR AT), and Peabody (BTU) the bidders, according to Reuters sources. (Newswires) 

Auto1 (AG1 GY) – Q3 (EUR): Revenue 1.59bln (exp. 1.50bln). Ups FY unit guidance and increased gross profit guidance to 682-700mln. (Newswires)

Babcock (BAB LN) – H1 (GBP): Net Income 118mln (prev. 103.5mln Y/Y), Revenue 2.41bln (prev. 2.18bln Y/Y). Affirms guidance. (Newswires)

Experian (EXPN LN) – H1 (USD): Adj. EBIT 999mln (exp. 1.01bln), Revenue 3.63bln (exp. 3.66bln). Affirms guidance. (Newswires)

Renk (R3NK GY) – Q3 (EUR): Revenue 268mln (exp. 265mln), Adj. EBIT 343mln (exp. 39mln). Confirms FY outlook. (Newswires)

Insurance / Banking names -  The FCA provides an FCA motor finance update: Will consult one extending time firms have to respond to consumer complaints about motor finance. Motor finance firms are also likely to need to consider whether they should make any financial provisions as complaint need to be handed in line with the law. (Newswires)

Nexans (NEX FP) – Unveils 2028 ambitions. Adj. EBITDA at 1.15bln whilst completion its portfolio rotation towards electrification. (Newswires)

Novo Nordisk (NOVOB DC) - Amgen slipped over 7% Tuesday as analysts mulled over bone density loss data from an early-stage trial on its experimental weight loss injection, MariTide. (CNBC) 

Porsche SE (PAH3 GY) – 9m (EUR): 2.51bln (prev. 3.8bln Y/Y). Affirms FY guidance. (Newswires)

Swisscom (SCMN SW) / Vodafone (VOD LN) - Swisscom offers new proposals to win Italy's approval for the Vodafone Italia deal, according to Reuters citing a letter. (Reuters) 

Siemens Energy (ENR GY) - CEO says the pricing environment in wind has stabilized. Export approvals for the Akkuya power plant have been granted. (Newswires)

St James’s Place (STJ LN) - Co. continues its executive shakeup with Hestie Reinecke to replace Mark Sutton as Chief Risk Officer. (CityAM)

SSE (SSE LN) – H1 (GBP): Adj. Pretax Profit 777.6mln (exp. 514mln). Affirms guidance and announces that CEO Philips-Davises is to retire in 2025. (Newswires)

Smiths (SMIN LN) – Q1’25 Revenue +15.8% Y/Y. Upgrades FY organic rev. guidance to 5-7%. Share buyback increased and resumed. (Newswires)

Voestapline (VOE AV) – H1 (EUR): EBITDA 718mln (prev. 903mln Y/Y); notes was influenced by negative one-off effects. Revenue 8bln (prev. 8.5bln Y/Y). (Newswires)

UK Stocks - UK government will reportedly set out its plans for a “world first” private stock market on Wednesday in a bid to revive the UK’s IPO pipeline, according to CityAM sources. The Chancellor is expected to reveal proposals to legislate in May 2025 for a regulated stock exchange system dubbed Private Intermittent Securities and Capital Exchange System (or Pisces) - a place where shares in private companies can be traded. (CityAM)

Brenntag (BNR GY) downgraded to Neutral from Buy at Citi

BMPS (BMPS IM) initiated with Buy at HSBC

DHL Group (DHL GY) downgraded to Equal Weight from Overweight

DS Smith (SMDS LN) downgraded to Underperform from Neutral at BNP

Endesa (ELE SM) upgraded to Buy from Hold at HSBC

13 Nov 2024 - 07:10- EquitiesResearch Sheet- Source: Newsquawk