Additional European Equity News

1&1 (1U1 GY) - FY21 (EUR): Revenue 3.91bln (exp. 3.90bln). EBITDA 468.5mln (prev. 711mln). Co. affirms outlook. (Newswires)

Airbus (AIR FP)/ Atos (ATO FP) - Airbus is said to be interested in taking over Atos' cybersecurity business, according to sources cited by BFM TV. (Newswires) 

AstraZeneca (AZN LN) - AstraZeneca reaches settlement agreement resolving patent litigation related to Ultomiris. Under the terms of the agreement, Alexion will make a single payment of $775m in the second quarter of 2022, for which a charge will be recognised through the non-core P&L in the first quarter of 2022. No further amounts are payable by either party. The settlement does not impact AstraZeneca’s financial guidance for 2022. (AstraZeneca) 

Auto names - EU New Car Registrations (Feb) Y/Y : -6.7% (prev -6.0%): Volkswagen (VOW3 GY) -11.5%, Stellantis (STLA IM/FP) -19.5%. Renault (RNO FP) -4.0%, BMW (BMW GY) -1.5%, Mercedes Benz (MBG GY) +1.1%. (ACEA)

Big Tech - US lawmakers introduce bicameral legislation to "ban anticompetitive mergers, restore competition, and bring down prices for consumers", taking aim at Big Tech, and would give authorities tools to reject deals and break up monopolies. (Senator Warren)

Cineworld (CINE LN) - FY21 (GBP): Revenue GBP 1.81bln (exp. 1.9bln). Adj. PBT -822mlln (prev. -1.33bln). Co. notes of gradual recovery of admissions and demand. (Newswires)   

Deliveroo (ROO LN) – FY21 (GBP): Revenue 1.82bln (exp. 1.83bln), Pre-Tax -298mln (exp. -238mln). Aims to reach adj. EBITDA breakeven at some point during H2-2023/H1-2024. (Newswires)

Glencore (GLEN LN) - Co. is to sell its CSA copper mine for USD 1.1bln, according to reports via AFR. (AFR)

Ocado (OCDO LN) - Active customer numbers +31% Y/Y. revenue -5.7% Q/Q, +31.7% Y/Y.  (Newswires) 

Saipem (SPM IM) – Co. has been awarded a USD 325mln offshore contract. (Newswires)

Skanska (SKAB SS) - Divests rental residential project in Stockholm for around SEK 580mln)

Snam (SRG IM) - FY21 (EUR): Adj. EBITDA 2.25bln (+2.45% Y/Y). Co. confirms guidance and and proposes a dividend of 0.2620/shr. (Newswires) 

Swatch (UHR SW)/ Richemont (CFR SW) - Swiss Watch Exports (Feb): +24.4% Y/Y at CHF 1.994bln (prev. +6.8% Y/Y at CHF 1.7bln). (Newswires)

UBS (UBSG SW) – UBS Asset Management intends to sell its holding in its Japanese real estate JV with Mitsubishi Corp., UBS Realty, to KKR. (Newswires)

United Internet (UTDI GY) - FY21 (EUR): Revenue 5.65bln (prev. 5.37bln Y/Y). EPS 2.23 (prev. 1.55), Adj. EBITDA 1.26bln (prev. 1.22bln). (Newswires)

Veolia (VIE FP) - FY21 (EUR): Revenue 28.5bln (exp. 27.8bln). EBITDA 4.23bln (exp. 4.45bln). Net 404.3mln (prev. 88.8mln Y/Y). (Newswires)

Adecco (ADEN SW) downgraded to Underperform from Neutral at Exane BNP

Ashtead Group (AHT LN) upgraded to Outperform from Neutral at Exane BNP

Fevertree (FEVR LN) upgraded to Buy from Hold at Liberum Capital 

Fortum (FUMV1 FH) upgraded to Buy from Neutral at Citigroup

Hays (HAS LN) downgraded to Neutral from Outperform at Exane BNP

Homeserve (HSV LN) upgraded to Neutral from Outperform at Exane BNP

Nokia (NOKIA FH) initiated with Buy at Jefferies

Uniper (UN01 GY) upgraded to Buy from Sell at Citigroup

Whitbread (WTB LN) upgraded to Market Perform from Underperform at Bernstein

17 Mar 2022 - 07:56- Research Sheet- Source: Newsquawk