Additional European Equity News

Air France (AF FP) – Definitive agreement with Apollo on MRO assets, for a EUR 500mln quasi-equity financing for the MRO activity. (Newswires)

Ashmore (ASHM LN) - Assets under management decreased by USD 1.8bln over quarter. Net outflows of USD 2.9bln. Emerging markets performed well over quarter with returns of between +1% and 2.5% in main benchmark indices. Remains some global macro uncertainty and certain investors have therefore reduced risk during the quarter. (Newswires) 

Barry Callebaut (BARN SW) - SIX has opened an investigation into whether the Co. has violated ad hoc publicity rules. (Newswires)

BKW (BKW SW) - Acquires two wind projects in Puglia, Italy consisting of 31 turbines and having a planned installed capacity of 130 MW. (Newswires)

Burberry (BRBY LN) - Q1: Comparable store sales +18% (exp. 18.3%), Ex Mainland China +11%, EMEIA 17%, Americas -8%. Maintains current year guidance of high-single digit revenue CAGR. Also maintain medium-term revenue target of GBP 4bln. Expect currency headwind of GBP 150mln to revenue and GBP 70mln to adj. operating profit. (Newswires)

Castellum (CASTB SS) -  H1 (SEK): Revenue 4.95bln (prev. 4.4bln), Operating Surplus 3.2bln (prev. 2.9bln), Management 2.09bln (prev. 2.37bln), Property Sales 3.4bln (prev. 2.4bln). (Castellum)

Galliford (GFRD LN) - Building business appointed by St Martin's property investment to undertakes GBP 72mln remodelling and refurbishment of Adelaide House. (Newswires) 

ITV (ITV LN) - Confirms it continues to monitor but n longer actively exploring a possible acquisition of All3Media. (Newswires)  

Partners Group (PGHN SW) - Its assets under management grew 9% to USD 141.7bln in H1. (Newswires) 

SBB (SBB SS) – H1 (SEK): Rental Income 3.47bln (prev. 3.7bln), PBT -15.06bln (prev. 0.86bln). adj. FCF 0.9bln. Currently conducting a strategic review. (Newswires)

Shell (SHEL LN) - Has suspended loading of Nigeria's Forcados crude oil due to a potential leak at the export termina, according to a spokesperson at the local subsidiary SPDC. 

Tullow Oil (TLW LN) – Start up of the Jubilee south east project. (Newswires)

UBS (UBS SW) - A Swiss parliamentary investigation into the role played by state institutions in the collapse will take up to 12-15 months. (Newswires) 

Ashmore (ASHM LN) downgraded to Reduce from Hold at Numis 

Aker (AKERBP NO) downgraded to Hold from Buy at SEB Enskilda

Norsk Hyrdo (NHY NO) upgraded to Hold from Sell at Norne Securities

14 Jul 2023 - 07:25- Research Sheet- Source: Newsquawk