Additional European Equity News

Antofagasta (ANTO LN) - Worker at the Centinela mine approve the contract offer. (Newswires)

Banco BPM (BAMI IM) - Acquires 65% stakes in Vera Vita and Vera Financial from Generali (G) for EUR 392.4mln. (Newswires) 

Campari (CPR IM) - Agreed to purchase Courvoisier from Beam Suntory for USD 1.2bln. net debt/EBITDA adj. expected to increase to 4x from 2.6x on the deal closing. Acquisition expected to boost group sales by 9%. Acquisition does not impair ability/appetite to do other deals. (Newswires)

H&M (HMB SS) – FY24 (SEK): Sales 236.01bln (exp. 236.87bln), +6% Y/Y. Q4 Net sales in local currency -4% (exp. -3.11%); 62.6bln (exp. 63.2bn). (Newswires)

Heathrow – Expects 79.1mln passengers in 2023, +28% Y/Y; 2024 81.4mln, +2.9% Y/Y. (Newswires)

Munich Re (MUV2 GY) – 2024 targets (EUR): Profit 5bln (exp. 4.9bln), Insurance Revenue 59bln, return on investment >2.8%. To present FY23 results on 27th February. (Newswires)

Saint Gobain (SGO FP) – Agreement to become a majority stake holder in Imptek Chova del Ecuador. (Newswires)

UK Ofgem - Consulting on plans to protect he energy market and consumers from the growing risk of "bad debt"; adjustment to price cap will ensure suppliers have resources to support customer struggling with debt. (Newswires)

Avanza (AZA SS) downgraded to Sell from Neutral at UBS 

Banco BPM (BAMI IM) downgraded to Hold from Buy at Jefferies 

Centrica (CNA LN) downgraded to Hold from Buy at SocGen 

EQT (EQT SS) upgraded to Neutral from Underweight at JPMorgan

LPP (LPP PO) upgraded to Overweight from Neutral  

Norsk Hydro (NHY NO) downgraded to Neutral from Buy at Citi 

Nordnet (SAVE SW) downgraded to Neutral from Buy at UBS 

Soitec (SOI FP) downgraded to Neutral from Buy at Citi

STMicroelectronics (STM FP) upgraded to Buy from Neutral at UBS 

15 Dec 2023 - 07:20- Research Sheet- Source: Newsquawk