Additional European Equity News

Alstom (ALO FP) - Signed a seven year operations and maintenance services contract with Newark Liberty, valued at EUR 250mln. (Newswires)

Casino (CO FP) - Raised circa. USD 770mln via the sale of an additional stake in Assai. (Newswires)

Deutsche Bank (DBK GY) - Total compensation EUR 10.2bln, +3% YY. Proposed dividend of EUR 0.30/shr (prev. 0.20/shr). (Newswires)

Delivery Names - FedEx Corp (FDX) Q3 2023 (USD): Adj. EPS 3.41 (exp. 2.73), Revenue 22.20bln (exp. 22.74bln). Raises FY adj. EPS to UD 14.60-15.20 from 13.00-14.00 (exp. 13.56). (businesswire)

Emis (EMIS LN) - UK CMA has found that UnitedHealth's (UNH) deal to buy Emis could reduce competition leading to worse outcomes. Have five working days to offer legally binding proposals to the CMA to address this. (Newswires)

Enel (ENEL IM) - To launch a new EUR 2.2bln buyback programme during 2023. (Newswires)

Novartis AG (NOVN LN) - FDA granted approval for Tafinlar + Mekinist for the treatment of pediatric patients 1 year of age and older with low-grade glioma with a BRAF V600E mutation who require systemic therapy. The FDA also approved liquid formulations of Tafinlar and Mekinist. (Newswires)

Rio Tinto (RIO LN) - The miner spent more than AUD 15.3bln with Australian suppliers in 2022, an increase of almost +9% Y/Y. (Newswires)

Stellantis (STLAM IM/STLAP FP) - Launched the first tranche of its previously announced buyback programme. (Newswires)

Telecom Names - UK's Ofcom updating on the proposed FTTP pricing offer: some responses require further assessment, expect to take an additional two months to publish a final decision. (Newswires)

Volkswagen (VOW3 GY) - Intends to invest in mines in order to reduce the cost of battery cells and meet half of its own demand and have the ability to sell to 3rd parties, via Reuters citing board member Schmall. (Newswires)

Wood Group (WG/ LN) - Extension of the PUSU deadline to 19th April. (Newswires)

Adecco (ADEN SW) maintained with Underweight at JPMorgan

National Express (NEX LN) upgraded to Hold from Sell at Liberum

Sage (SGE LN) downgraded to Neutral from Outperform at Exane BNP

17 Mar 2023 - 07:05- EquitiesResearch Sheet- Source: Newsquawk