Additional European Equity News

Alcohol Names - UK Chancellor Hunt is expected to confirm that alcohol tax will rise with inflation from August 1st, according to Telegraph sources. (Telegraph)

Airbus (AIR FP) - Spanish government has asked the Co. to increased investments in Spain. (Newswires) 

Casino (CO FP) - Co. has launched the sale of its 12.9% stake in Assai. (Newswires)

Centrica (CNA LN) - Co. reportedly plans to extend the lives of Heysham 1 and Hartlepool nuclear power stations, which are now expected to close two years later than originally planned. (Newswires)

Equinor (EQNR NO) – Lewis is to resign from the board on 16th March, to avoid conflict of interest as he is appointed CEO of Uniper (UN01 GY). Additionally, Co. has made a second discovery this year near the Troll field, volumes estimated between 24-84mln/BOE, with slightly more oil than gas; DNO (DNO NO) is a partner on this. (Newswires)

Ferrovial (FER SM) - Co. is to start talks with Maryland to get a contract to build highways with an investment of EUR 3bln. (El Economista) 

Flughafen Zuerich (FHZN SW) - FY 2022 (CHF): Revenue 1.02bln (prev. 680mnln). EBITDA 555.6mln (prev. 299.2mln). EBIT margin 25.4% (prev. 2.8%). Co. proposes a dividend of CHF 2.40/shr. (Newswires)

Fraport (FRA GY) - FY 2022 (EUR): Revenue 3.19bln (prev. 2.14bln Y/Y). EBITDA 1.03bln (prev. 757mln). Net 166.6mln (prev. 91.8mln). Co. guides initial FY23 Frankfurt passengers 80-90% of pre-crisis levels. February passengers +60.9% Y/Y. Cargo volume -11.0%, flight movement +21.7% Y/Y. (Newswires)

GSK (GSK LN) - China National Medical Products Admin has accepted regulatory review for Nucala in severe eosinophilic asthma. Separately, Co. has announced positive pivotal Phase III data for its 5-in-1 MenABCWY vaccine candidate. (Newswires)

Italgas (IG IM) – Entered into exclusive negotiations with Veolia (VIE FP) for the potential acquisition of stakes within the water sector, as part of the 2022-28 strategic plan. (Newswires)

Kesko (KESKOB FH) - February Same Store Sales +4.1% Y/Y. CEO said sales in the month grew in the grocery trade and the car trade divisions. (Newswires)

MediaForEurope (MFEB IM) – Co. has entered into, as a purchaser, separate share purchase agreements with some Mediaset Espana (TL5 SM) shareholders, as sellers. (Newswires)

Pension Names - UK Chancellor Hunt is expected to raise the tax-free allowance for pensions by over GBP 500k, according to Telegraph source. (Telegraph)

Pennon Group (PNN LN) – On track to deliver FY results in-line with management expectations. On track to continue delivery of double base returns on regulated equity in 2023/23. (Newswires)

Sainsbury’s (SBRY LN) – Acquisition of interest in Highbury and Dragon investment vehicles, will result in Co. acquiring freehold of 21 stores which will continue to operate. Transaction expected to complete on 17th March, for a GBP 430mln total consideration which is to be paid in three tranches. (Newswires)

Telecom Italia (TIT IM) - An Italian court has deemed it "inadmissible" that a TIM-led consortium is moving to set up and manage cloud services for the country's public administration, according to reports. (Newswires) 

TP ICAP (TCAP LN) - FY 2022 (GBP): Revenue 2.12bln (prev. 1.86bln Y/Y).Adj. pretax 113mln (prev. 24mln). EBIT margin 7.7% (prev. 5.2%). Co. expects volumes to continue to be solid. (Newswires)

Vivendi (VIV FP) – Co. has entered exclusive negotiations for the sale of 100% of the shares of Editis; Co. has received several offers for the sale of 100% of the shares of Editis. Plan to distribute the Editis shares to Vivendi shareholders and their Euronext Growth Market listing have been put on hold. (Newswires)

Wacker Chemie (WCH GY) - FY 2022 (EUR): Revenue 8.21bln (prelim. 8.2bln). EBITDA 2.08bln (prev. 2.1bln). Net 1.28bln (prev. 828mln). Co. guides initial 7.0-7.5bln (exp. 7.1bln). (Newswires)

14 Mar 2023 - 07:40- EquitiesExclusive- Source: Newsquawk