Additional European Equity News

Air France (AF FP) - CMA CGM to reshape its commercial partnership with Air France; CMA CGM to step down from the Air France Board of Directors on May 31, 2024. (Newswires) 

Bper Banca (BPE IM) – Finalised a deal with Gardant, for UTP and NPL loan management. Transaction will generate a pre-tax capital gain of EUR 150mln, to be booked in Q1. (Newswires)

Casino (CO FP) – GPA, a Brazilian retailer which is controlled by the Co., could postpone its share offer, via Valor Economico citing sources. (Newswires)

Eurazeo (EUR FP) – To make additional investment(s) within Electra. (Newswires)

Experian (EXPN LN) - Q3 Organic Revenue +6% Y/Y. Raises FY24 Revenue +5-6% (prev. guidance +4-6%, exp. +6.1%). (Newswires) 

JCDecaux (JCD FP) – Secures renewal for exclusive advertising contracts for the Hong Kong MTR* and Airport express. (Newswires)

Ocado (OCDO LN) - Q4 Trading Update: Q4 Retail Revenue GBP 609.4mln, +10.9% Y/Y. Delivered another record Christmas, highest ever level of sales over the peak Christmas trading period. Says FY24 growth is likely to be impacted by lower growth in average selling prices (Newswires) 

Qinetig (QQ/ LN) - Issues Q3 trading update: On track to deliver FY views. Announces up to GBP 100mln in share buybacks.  (Newswires) 

Natural Energy Corp. (NTGY SM) - Spanish regulator analyses if Blackrock needs NOD for Naturgy deal, via El Confidencial. (El Confidencial)

Safilo Group (SFL IM) – Co. and Aeffe announce the early renewal of their licensing deal for the Moschino and Love Moschino eyewear collections, until 2033. (Newswires)

THG (THG LN) - Q4 (GBP): Revenue 597.9mln, +1.1% Y/Y. Announces enterprise fulfilment partnership. New and expanded ingenuity partnerships contributing GBP 175mln incremental GMV. Q4 & FY trading in-line with expectations and guidance. Monitoring Red Sea developments, anticipates minimal impact on stock availability. Signs a partnership deal with Holland & Barrett, which will utilise automated facilities of THG in the UK. (Newswires) 

TotalEnergies (TTE FP) - Q4 Prelim Hydrocarbon production 2.5mln boepd (prev. 2.5mln Q/Q). (Newswires) 

Vodafone (VOD LN) - Co. and Microsoft (MSFT) sign a 10-year strategic partnership to bring generative AI, digital services and the cloud to more than 300mln businesses and consumers. To invest USD 1.5bln over the next 10yr in cloud and customer-focused AI services. Microsoft also intends to invest in Vodafone’s managed IoT platform, which will become standalone by April 2024. (Newswires)

Wise (WISE LN) – Q3 (GBP): Revenue 276mln (exp. 259mln); active customers 7.5mln, +30% Y/Y. FY24 income growth guidance upgraded to 42-44% (prev. guided 33-38%). (Newswires)

Worldline (WLN FP) - Co. and Alphabet's (GOOGL) Google: partners companies will jointly explore impactful go-to-market opportunities. (Newswires)

Drax (DRX LN) downgraded to Sell from Neutral at Citi 

DNB (DNB NO) downgraded to Hold from Buy at Nordea

MorphoSys (MOR GY) downgraded to Equalweight from Overweight at Morgan Stanley -3.6% in pre-market trade.

Sartorius (SRT GY) downgraded to Neutral from Buy at UBS

Tag Immobilien (TEG GY) downgraded to Hold from Buy at SocGen 

Ubisoft (UBI FP) initiated with Neutral at Cantor Fitzgerald

argenx (ARGX BB) assumed with Overweight at Morgan Stanley

Lonza (LONN SW) assumed with Overweight at Morgan Stanley

Merck (MRK GY) assume with Overweight at Morgan Stanley 

UCB (UCB BB) assumed with Underweight at Morgan Stanley

16 Jan 2024 - 07:55- Research Sheet- Source: Newsquawk