Additional European Equity News

Bayer (BAYN GY) - Enrollment ongoing in the United States for REGENERATE-PD clinical trial of AB-1005 (also known as AAV2-GDNF) glial cell line-derived neurotrophic factor (GDNF) investigational gene therapy for the treatment of moderate-stage Parkinson’s disease / Phase Ib 36-month data demonstrated a favorable safety profile and continued positive trends in assessed clinical measures of AB-1005 with no associated serious adverse events. (Bayer)

BP (BP/ LN) - Q4 Trading Statement (USD): Q4 impairment 1.0-2.0bln; oil trading result is expected to be weak; now expects other businesses & corporate underlying annual charge to be around 0.6bln (vs prev. view of 0.3-0.4bln) amid FX rates. Upstream production in the fourth quarter is expected to be lower compared to the prior quarter, with production lower in oil production & operations and in gas & low carbon energy. (Newswires) 

Games Workshop (GAW LN) - H1 (GBP): EPS 2.89 (prev. 2.17 Y/Y), Pretax profit 127mln (prev. 95.2mln Y/Y). (Newswires) 

JD Sports (JD/ LN) - Robust trading performance in a challenging market; LFL rev. across Nov/Dec was -1.5% (only Dec +1.5%), expect FY LFL rev. to be at a similar level to this. Cuts FY25 adj. pretax 915mln (prev. guided 955-1.04bln). Expects FY organic rev. growth around 5%. Notes challenging and volatile market that saw increased promotional activity. (Newswires) 

Infineon (IFX GY) - Launches construction of a new backend Fab in Bangkok; to be ready for operations beginning 2026. (Newswires) 

Robert Walters (RWA LN) - Q4 Net Fee Income -14%  Y/Y; slightly weaker than expected. Now expects a broadly breakeven position at PBT level for FY. (Newswires) 

Sandoz (SDZ SW) - To confirm its strategic roadmap at the JPM Healthcare conference, anticipates the launch of three bio-similars within the US in 2025. (Newswires)

Smiths (SMIN LN) - Apponts Fagge as CFO; raises FY25 organic rev. +6-8% (prev. guided +5-7% Y/Y). (Newswires)

Ocado (OCDO LN) - Q4 Trading Statement (GBP): Retail Revenue 715.8mln, +17.5% Y/Y. Delivered the highest ever level of sales over the peak Christmas period. (Newswires)  Of note for Marks & Spencer (MKS LN), given their stake in Ocado Retail.

Persimmon (PSN LN) - 2024 Trading Statement: Delivers 10,664 homes, +7% Y/Y. Entered 2025 with an improved forward order book and strong land bank. Expect FY underlying PBT for 2024 to be around upper end of market expectations. Is well positioned for 2025. (Newswires) 

Nexi (NEXI IM) downgraded to Underweight from Equalweight at Morgan Stanley

14 Jan 2025 - 07:15- ForexEU Research- Source: Newsquawk