Additional European Equity News

B&M European (BME LN) - Q1 Trading Update: Continue to expect profitable cash generating growth across the FY. Revenue +2.4% Y/Y; LFL Sales -3.5%. France added 2 new stores, on track for 11 new stores this year. (Newswires) 

Castellum (CAST SS) - H1 (SEK): Op. Income 3.39bln, Profit from Property Management 2.4bln. (Newswires) 

Deutsche Bank (DBK GY) - German Bank Regulator says it found consolidated financial statements of Deutsche Bank for 2019 were incorrect. Disclosures on deferred taxes in the notes to the consolidated financial statements were incomplete. With finding of error, BAFIN concluded proceeding initiated by German Financial Reporting Enforcement panel. (Newswires)  

Eiffage (FGR FP) - Eiffage Energie Systemes strengthens its presence in Netherlands with the acquisition of EKB and Rensen. (Newswires)

Eurazeo (RF FP) - Announced final close transition infrastructure program at over EUR 700mln, exceeding initial target by 40%. (Newswires) 

Experian (EXPN LN) - Trading Update: Growth expectations unchanged. Craig Boundy to step down as COO of the Co. (Newswires) 

Finecobank (FBK IM) - Private equity funds Bain, CVC and Advent and Zurich Insurance (ZURN SW) are studying possibility of making an offer for Finecobank, according to II Sole 24. The sources add that one of the funds are looking at Banca Generali (BGN IM). (II Sole 24) 

Ocado (OCDO LN) - H1 (GBP): Revenue 1.54bln, +12.6% Y/Y, Pretax Profit -153.9mln (prev. -289.5mln). Raising FY24 EBITDA & cash flow guidance; underlying cash flow exp. to improve by 150mln. Group to turn cash flow positive during FY26. Retain FY24 guidance for 15-20% revenue growth. Raise FY24 margin guidance to a mid-teen percentage. Says lower levels of grocery inflation and more normalised volume trends are likely to continue. (Newswires) 

Poste Italian (PST IM) - Economy Ministry could sell a stake of up to 13%, keeping 51% under public ownership, and also open the offer to retail investors and company employees. (Corriere della Sera) 

Leonardo (LDO IM) - Economy Minister Giorgetti is "cautious" about government plans to raise military spending from 1.44% to 1.6% of GDP in 2025, via la Repubblica. (la Repubblica)

Spectris (SXS LN) - Acquisition of Micrometrics Instruments for USD 630mln plus deferred up to USD 53mln. (Newswires) 

Salzgitter (SZG GY) – JP Morgan places Co. on “Negative Catalyst” watch; cuts target price to EUR 16.80 (prev. 19.1). (Newswires) Shares -2.4% in pre-market trade

Sobi (SOBI SS) - Q2 (SEK): Revenue 5.44bln (exp. 5.06bln), EBIT 612mln (exp. 549mln). (Newswires) 

Sanofi (SAN FP) - Co. has set Tuesday as the date for submitting offers to private equity funds for a "mega" sale of its Opella health division, valued around EUR 15-20bln, according to Les Echos. The sources add that Sanofi has put two offers on the table to potential buyers; one which would see Sanofi retain around 30% of the capital and another close to 50%. (Les Echos)

TotalEnergies (TTE FP) - Says for Q2, hydrocarbon production is expected to be within high end of guidance range, close to 2.45mln BOEPD, Q2 downstream results will reflect decrease in refining margins in Europe and the Middle East

Talgo (TLGO SM) - Has received from Skoda (VOW3 GY) a "business combination and industrial integration" proposal. Co. has asked for further details; Skoda offer doe not include economic offer. (Newswires) 

Wise (WISE LN) - Q1 Trading Update: Quarterly active customers 8.4mln, +36% Y/Y. (Newswires) 

United Utilities (UU/ LN) - Ofwat Wastewater treatment investigation. Continue to work openly with Ofwat. (Newswires) 

16 Jul 2024 - 06:51- EquitiesResearch Sheet- Source: Newsquawk