Additional European Equity News

Anglo American (AAL LN) - Investors at both Cos said that BHP is likely to make another higher offer for Anglo American and possibly add cash, via Reuters. (Reuters)

Curry’s (CURY LN) – FY Trading Update (GBP): Adj. PBT expected to be 115-120mln (prev. guided). (Newswires)

Fraport (FRA GY) – Q1 (EUR): EBITDA 212.6mln, +34.3% Y/Y. Revenue and EBITDA grew at double digit growth rates. Passengers in Frankfurt +10.4% Y/Y to 12.5mln passengers. (Newswires)

Flutter (FLTR LN) – Q1 (USD): Revenue 3.39bln, +16% Y/Y. Adj. EBITDA 26mln (prev. -53mln Y/Y). Have looked at moving operational HQ to New York reflecting importance of US market. (Newswires)

Greggs (GRG LN) – Trading Update (GBP): LFL Sales growth 7.4%, Total sales in 19 weeks 693mln. FY guidance confirmed. (Newswires)

Hannover Re (HNR1 GY) – Q1 (EUR): Net Income 558mln (exp. 573mln), EBIT 811mln (exp. 828mln). (Newswires)

Italgas (IT IM) – Q1 (EUR): Revenue 431.3mln (prev. 479.9mln Y/Y), Net Profit 117.6mln (prev. 103.6mln Y/Y). (Newswires)

Rheinmetall (RHM GY) – Q1 (EUR): Op. Earnings 134mln (exp. 143.4mln), Sales 1.58bln (exp. 1.68bln). Backlog rises by 43% from 28.2bln to 40.2bln. Confirms FY24 guidance. (Newswires)

Porsche SE (PAH3 GY) – 3M (EUR): Group result after tax 1.1bln, Net debt 5.8bln, unchanged. Confirms FY24 guidance. "The group result after tax was significantly influenced by the result from the investments in Volkswagen" (Porsche)

Lonza (LONN SW) – Co. said performance is in line for FY24 expectations and expects H2 sales to be solid. (Newswires)

Veolia (VIE FP) – Q1 (EUR): Revenue 11.56bln (exp. 11.6bln), EBITDA 1.62bln (exp. 1.6bln). Confirms FY24 guidance. (Newswires)

Vodafone (VOD LN) – FY (GBP): Revenue 36.1bln (exp. 43.1bln, Adj. EBITDAAL 11.01bln (exp. 12.7bln). Approved a capital return through share buybacks of up to EUR 2bln following sale of Vodafone Italy. Targeting dividend of 4.5p/shr for FY25. (Newswires)

OMV (OMV AV) upgraded to Equal Weight from Underweight at Morgan Stanley

14 May 2024 - 06:54- EquitiesEconomic Commentary- Source: Newsquawk