Additional European Equity News

Alstom (ALO FP) - Co. is considering a capital increase, via Reuters. (Newswires)

Aviva (AV/ LN) – 9-month Update (GBP): General Insurance GWP 8.0bln, +13% Y/Y/ FY23 operating profit guidance affirmed, dividend guidance confirmed. On track to exceed medium-term targets and deliver 750mln cost reduction target in 2023, a year ahead of schedule. (Newswires)

Burberry (BRBY LN) - Q2 (GBP): Revenue 1.396bln (exp. 1.391bln) EBIT 223mln (exp. 223mln). Retail Comp Sales +1% (exp. +4.2%). H1 Retail Comp Sales +10% (exp. +10.9%). Says it is unlikely to achieve previously issued revenue guidance if weak demand persists. Outlook: "The slowdown in luxury demand globally is having an impact on current trading.". "If the weaker demand continues, we are unlikely to achieve our previously stated revenue guidance for FY24". "In this context, adjusted operating profit would be towards the lower end of the current consensus range (GBP 552-668mln)". CEO: "While the macroeconomic environment has become more challenging recently, we are confident in our strategy to realise our potential as the modern British luxury brand, and we remain committed to achieving our medium and long-term targets." (Newswires)

Boliden (BOL SS) – Higher provisions for future reclamation of Altik and Garpenberg. (Newswires)

Bavarian Nordic (BAVA DC) – Q3 (NOK): EBITDA 380mln (prev. 226mln Y/Y), Revenue 1.38bln (prev. 1.00bln Y/Y). (Newswires)

Close Brothers (CBG LN) - Q1 Trading Update: CET1 Ratio 12.7% (prev. 13.3% Y/Y). (Newswires) 

Crest Nicholson (CRST LN) – Trading Update: Weakness in the housing market but an upward trend. FY23 adjusted PPT expected to be in the range of GBP 45-50mln. (Newswires)

Flughafen Wien (FLU AV) – 9M (EUR): Net 173mln (prev. 109mln Y/Y), EBIT 235mln (prev. 157mln Y/Y), Revenue 699mln (prev. 508mln Y/Y). (Newswires)

Great Portland (GPE LN) - H1 Trading Update (GBP): Revenue 47.6mln (prev. 43.5mln Y/Y). (Newswires) 

Halma (HLMA LN) – H1 (GBP): EBIT 950.5mln (prev. 875.5mln Y/Y), Adj. EPS 36.90p (prev. 35.65p Y/Y), Adj. Pretax 177.5mln (prev. 171.7mln Y/Y). (Newswires)

IDS (IDS LN) – H1 (GBP): Adj. Pretax -186mln (prev. -80mln Y/Y), Adj. Op -169mln (prev. -57mln Y/Y), Revenue 5.86bln (prev. 5.34bln Y/Y). (Newswires)

Melrose (MRO LN) – Updated FY23 Guidance (GBP): Revenue 3.3-3.4bln (exp. 3.43bln), a 7% profit upgrades to prior expectations and stronger margins. FY24 Guidance: Revenue 3.5-3.7bln (exp. 3.67bln). (Newswires)

Publicis (PUB FP) – Appoints Loris Nold as CFO, effective February 2024. (Newswires)

Qinetig Group (QQ LN) – H1 (GBP): Underlying Op 100mln (prev. 74.1mln Y/Y), Revenue 883mln (prev. 673mln Y/Y). (Newswires)

SBB (SBB SS) - Voluntary tender offers re. certain outstanding hybrid and senior securities, to tender securities for purchase by SBB for cash at prices to be determined to a separate unmodified Dutch auction. Purpose is to proactively manage balance sheet. Maximum securities purchase consideration means EUR 600mln. (Newswires)

Siemens (SIE GY) – CFO: first signs of stabilisation in digital industries business within China after a soft Q4. Expect destocking to continue into H1-24. Expect sluggish demand at digital industries within China and Germany in H1-24. Improving trends will materialise in H2-24. (Newswires)

Smiths Group (SMIN LN) – Q1 Update: Confirms FY guidance for revenue growth within medium-term target range of 4-6%. Chairman Buckley to retire at the AGM on November 16th, Steve Williams to replace him. (Newswires)

Subsea 7 (SUBC NO) – Q3 (USD): Revenue 1.58bln (exp. 1.52bln), adj. EBITDA 201mln (exp. 202mln). (Newswires)

Smiths (SMIN LN) – Q1 Trading Update: Organic Revenue, +3.5% Y/Y. (Newswires)

Spirax-Sarco (SPX LN) – Q3 Trading Update: Subdued Trading environment, return to growth expected in 2024. (Newswires)

Telenor (TEL NO) - Co. is to divest its Satellite unit to Space Norway for an enterprise value of NOK 2.36bln. (Newswires) 

Telecom Names - Wind Tre's telecom grid sale is reportedly facing regulatory hurdles around network agreements with Fastweb, via Reuters citing sources. (Newswires)

Tomtom (TOM2 NA) – Announces contract with Bridgestone Mobility Solutions. (Newswires)

UniCredit (UCG IM) - Work has commenced on the renewal of the board of directors. (MF Daily)

United Utilities (UU/ LN) – H1 (GBP): Revenue 982mln (exp. 990mln), Operating Profit 240mln. Recommends an interim dividend of 0.165/shr. (Newswires)

Vallourec (VK FP) – Q3 (EUR): Sales 1.14bln (exp. 1.16bln), Operating Profit 22mln (prev. 198mln), Net -22mln (exp. 56mln). FY23 guidance revised up: Gross Operating Income 1.075-1.175bln. (Newswires)

Wizz Air (WIZZ LN) downgraded to Hold from Buy at Peel Hunt

16 Nov 2023 - 07:10- Equities- Source: Newsquawk