Additional European Equity News

Bayer (BAYN GY) - Files for approval of Finerenone in heart failure in Japan. (Newswires)  

Hermes (RMS FP) - Q4 (EUR): Revenue 3.96bln (exp. 3.74bln); raises prices 6-7% in Jan-Feb and will prices if US tariffs are applied. Q3 Revenue +17.6% (exp. 11%), APAC + 8.9% (exp. +1.8%), Japan +22.5%, America +15.5%, France +13.5%, Europe-ex France +20.7%. Revenue by region (in constant exchange rates): Europe 994mln, +17% Y/Y; Asia 1.93bln, +11.5% Y/Y. Outlook: Remains very positive about 2025 but comps will be high. To propose a dividend of EUR 16/shr.  (Newswires) 

Novartis (NOVN SW) - Granted FDA orphan drug status for lanalumab. (Newswires) 

NatWest (NWG LN) - FY (GBP): Revenue 14.7bln (exp. 14.56bln), NIM 2.13% (exp. 2.11%), NII 11.3bln (exp. 11.23bln), PBT 6.2bln (exp. 6.1bln), final Dividend of 0.155/shr. Intend to increase the ordinary dividend pay-out ratio from 40% to 50% from 2025. CET1 13.6% (exp. 13.58%) RoTE 17.5% Net Impairment Charge 0.359bln, or 9bps of gross customer loans. FY25 Guidance: RoTE 15-16% adj. Income 15.2-15.7bln (exp. 15.4bln) CEO: "2025 is also likely to be the year that NatWest Group returns to full private ownership. The acceleration towards privatisation has attracted investment from those that share our growth ambition and will mark a new, forward-looking chapter for the bank." (Newswires) 

Segro (SGRO LN) - FY (GBP): Adj. Pretax 470mln (exp. 473mln), AuM 20.3bln (prev. 20.7bln Y/Y). (Newswires)

Wood Group (WG/ LN) - Trading Update (USD): Independent review and updates outlook: Sees FY24 Adj. EBIT 205-215mln (exp. 201mln). (Newswires)  

ArcelorMittal (MT NA) downgraded to Equal Weight from Overweight at Morgan Stanley 

Givaudan (GIVN SW) upgraded to Buy from Hold at Berenberg