Additional European Equity News

AstraZeneca (AZN LN) - Supernova trial met Covid-19 prevention endpoint. (Newswires) 

BT (BT/A LN) – FY (GBP): Revenue 20.79bln (exp. 20.88bln), adj. EBITDA 8.1bln (exp. 8.1bln), PBT 1.19bln (exp. 2.3bln), Net 0.86bln, Dividend 0.08/shr (exp. 0.075/shr). FY25 Guidance:  EBITDA 8.2bln (exp. 8.2bln). Mid-term guidance: “Consistent and predictable adjusted revenue growth & EBITDA growth ahead of revenue, enhanced by cost transformation from FY26 to FY30”. Adds, “Looking forward, BT Group will focus on the UK; we will explore all options to optimise our global business.”. (BT)

Convactec (CTEC LN) - Trading Update: For four months, revenue +5.2%. Sees adj. double digit compound annual growth in adj. EPS and FXF to equity in medium term. (Newswires) 

easyJet (EZJ LN) - HY Update (GBP): Headline loss before tax 350mln (prev. -357mln). On track to deliver ambitious medium target of 1bln PBT. Load factor 86.7%. CEO Johan Lundgren to step down in early 2025; at that time Kenton Jarvis will take over. easyJet holidays expected to to deliver GBP 170mln PBT. 

FTSE 100 ex-dividend - BP (BP/ LN), Bunzl (BNZL LN), GSK (GSK LN), Kingfisher (KGF LN), Pershing Square (PSH LN), Shell (SHEL LN), Tesco (TSCO LN) & Unilever (ULVR LN) will trade without entitlement to their latest dividend. (Newswires)

Nibe (NIBEB SS) - Says weak first quarter. Demand at manufacturing level should improve this year. (Newswires) 

Roche (ROG SW) - Roche reports positive Phase I results for its dual GLP-1/GIP receptor agonist CT-388 in people with obesity. Over 24 weeks, a once-weekly subcutaneous injection of CT-388 achieved a clinically meaningful and statistically significant mean placebo-adjusted weight loss of 18.8% (p < 0.001). No new or unexpected safety signals were detected. Overall, CT-388 demonstrated a safety and tolerability profile consistent with its drug class. (Roche) 

Sage (SGE LN) - H1 (GBP): Revenue 1.51bln (prev. 1.052bln), Op. profit 254mln (prev. 215mln), EBITDA 299mln (prev. 262mln). (Newswires) 

Sweco (SWECB SS) - Q1 (SEK): EBITA 793mln (exp. 699.8mln), Revenue 7.72bln (exp. 7.68bln). (Newswires) 

Snam (SNAM IM) - Q1 (EUR): Adj. Net Profit 335mln, +11.3%, Adj. EBITDA 703mln (prev. 597mln Y/Y). Sees 2024 adj. EBITDA above 2.75bln. (Newswires) 

Siemens (SIE GY) - CEO said Innomotics Motors deal is expected to close H2'25. Hve robust topline momentum demand from customers remain strong. Expects post-tax book gain of around EUR 2bln. Expects China destocking trend to continue until end of year, and US to improve earlier. We will end up at lower end of FY sales guidance. Not looking at generative AI acquisitions, always looking at potential acquisitions in intelligent hardware/software. (Newswires)  

Telefonica (TEF SM) - SEPI exceeds threshold of 9% stake in the Co. (Newswires) 

Tod's (TOD IM) - Q1 (EUR): Sales 252.2mln (prev. 270.5mln Y/Y). (Newswires) 

Tullow Oil (TLW LN) - Working interest production guidance remains 62-68 KBOEPD, with FY outcome exp. to be towards lower end of range. (Newswires) 

Vallourec (VK FP) - Q1 (EUR): Revenue 990mln (exp. 1.23bln), EBITDA 235mln (exp. 244mln). (Newswires) 

United Utilities (UU/ LN) - FY (GBP): Revenue 1.94bln (exp. 1.97bln), Adj. EPS 0.333 (exp. 0.3). Revenue exp. to increase by around 1% in 2024/25. (Newswires) 

Vistry (VTY LN) - Trading update: Co. on track to deliver 10% of growth in FY24. Demand from registers provides for affordable homes has remained robust. (Newswires) 

Watches of Switzerland (WOSG LN) - Q4'24 Trading Update (GBP): FY24 revenue 1.58bln, +2% Y/Y. Cautiously optimistic about trading in FY25. (Newswires) 

Verbund (VER AV) downgraded to Sell from Neutral at Citi 

16 May 2024 - 07:05- Research Sheet- Source: Newsquawk