Additional European Equity News

Barclays (BARC LN) - Co. and Brookfield enter into strategic partnership, to transform bank's payment acceptance business. Barclays plans to invest approx. GBP 400mln in the business. (Newswires) 

EU Cosmetics - The FT writes that the European Commission has warned of a steep rise in unsafe cosmetic products in the region, mainly from China. (FT)   

Deliveroo (ROO LN) - Q1 (EUR): Revenue 518mln (prev. 514mln Y/Y), GTV 1.87bln (exp. 1.87bln). 2025 guidance maintained. Ended operations in Hong Kong on 7 Apr. (Newswires) 

Hermes (RMS FP) - Q1 (EUR): Revenue 4.13bln (exp. 4.10bln). Asia ex-Japan +1% (despite the downturn in traffic in Greater China since the end of Q1 2024), Japan +17%, Americas +11%, Europe ex-France +13% and France +14%; hiking prices amid tariffs CEO: Does not see a change of trends in US going into April. Does not see any major change of trends in Mainland China, but there are some positive signs. Will implement price hikes in US on all goods to fully offset tariff effects starting May.

Man (EMG LN) - Q1 (USD): AuM 172.6mln (prev. 168.6bln Q/Q). (Newswires) 

Rentokil (RTO LN) - Q1 (USD): revenue 1.64bln (+4.5% Y/Y); Revenue growth in North America +0.5% and Organic Revenue growth +0.7%, with a c.50bps headwind from one fewer trading day; notes that despite macro uncertainty, the company remains confident about the long term. 

Sainsbury (SBRY LN) - FY (GBP): Adj. Pretax 761mln (exp. 747mln), Adj. Revenue 31.6bln (prev. 30.6bln Y/Y). Will buy back at least GBP 200mln shares in 2025/26. Expect to deliver retail underlying op. profit of around GBP 1bln in 2025/26. Expect to return bank disposal proceeds of GBP 250mln via special dividend in H2. Notes that Co. has started the year with good trading momentum. (Newswires) 

Watch names - Swiss Watch Exports CHF +1.5% Y/Y (prev. -8.2% Y/Y)

ASML (ASML NA) downgraded to Neutral from Buy at Fubon 

17 Apr 2025 - 07:02- EquitiesEU Research- Source: Newsquawk