Additional European Equity News

ASOS (ASC LN) - Affirms FY25 and mid-term outlook. Announces changes to distrubution network; from H2'25, US customers will be served by Asos' automated UK fulfilment centre in Barnsley. Co.

Aluminium - Aluminum prices rose towards USD 2,600/tonne, driven by the EU's consideration of import restrictions on Russian metal and expected slower production growth in China. The EU is planning sanctions on Russian commodities as part of its response to the Ukraine invasion. Elsewhere, China's aluminium industry is facing production constraints as the government’s 45mln tonne capacity cap, set in 2017, limits output; with the cap reached, production in 2024 is expected to hit a record, potentially reducing exports by up to 9% in 2025. 

Curry's (CURY LN) - Trading Update: Prelim FY24/25 adj. pretax 145-155mln (exp. 145.1mln). (Newswires) 

Diploma (DPLM LN) - Q1 Trading Update: Organic +7% Y/Y; affirms FY guidance. (Newswires) 

Experian (EXPN LN) - Q3: Organic Revenue +6% (exp. +6.6%). (Newswires) 

Hays (HAS LN) - H1 Trading Update: Adj. op. GBP 25mln, LFL net fees -12% Y/Y. Overall consultant headcount capacity is appropriate for current market conditions and therefore expected to remain broadly stable in Q3 2025. Too early to say if recent perm weakness in EMEA, UK&I, and Germany reflects a more sustained market slowdown. (Newswires) 

Haleon (HLN LN) - Pfizer (PFE) has sold 700mln ordinary shares at a price of 357p/shr; Pfizer raises gross sale proceeds of about GBP 2.5bln. (Newswires)  

IDS (IDS LN) - Q3 Trading Update: On track to return adj. op profit for FY24-25. Over 99% of items posted on/before recommended dates arrived on time for Christmas. Sees recommended offer will become or be declared unconditional in Q1'25. (Newswires) 

London Metric Property (LMP LN) - Sold ten non-core properties for a total consideration of GBP 74.2mln. (Newswires) 

Reckitt Benckiser (RKT LN) - Reckitt plans to increase US production to reduce reliance on imports, as tariffs loom under President Trump, Bloomberg reports. By 2027, its North Carolina factory will produce Mucinex, cutting imports from over 40% to 25%.

Vistry (VTY LN) - Trading Update: FY PBT exp. to be around GBP 250mln, in-line with previous guidance. Total completion +7% Y/Y. Adj. rev. exp to be +9% to GBP 4.4bln (prev. 4bln Y/Y). "Market conditions in FY25 for both Partner Funded and open market sales remain uncertain" (Newswires) 

Watches of Switzerland (WOSG LN) downgraded to Hold from Buy at Deutsche Bank 

Beiersdorf (BEI GY) downgraded to SEll from Hold at Deutsche Bank 

SAP (SAP GY) upgraded to Buy from Hold at Kepler 

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