Additional European Equity News

Alstom (ALO FP) - To supply DB Regio with 18 new high-capacity trains. (Newswires) 

Auto Names - EU27 New Car Registrations (Dec) -3.3% Y/Y ". This drop can be attributed to the high baseline performance in December 2022. December also marked the first month of contraction after 16 consecutive months of growth.". Volkswagen (VOW3 GY) +1.1% Y/Y, Stellantis (STLAM IM/STLAP FP) -19.2% Y/Y, Renault (RNO FP) -4.5% Y/Y, BMW (BMW GY) +10.3% Y/Y  Mercedes-Benz Group (MBG GY) -4.0% Y/Y, Volvo cars (VOLCARB SS) -4.7% Y/Y, Tesla (TSLA) -6.9% Y/Y. (acea)

Barclays (BARC LN) – CEO said it is going to be a bumpy year, and the Co. needs to be more efficient. He added that the investor day is focused on improving efficiency, via a BBG TV interview. (Bloomberg TV) Furthermore, he said he wants to make the Co's other divisions as strong as the investment bank. (Newswires)

Boohoo (BOO LN) - Frasers discloses 21.49% (prev. 17.2%) stake in Boohoo at at Jan 17. (Newswires) 

BP (BP/ LN) - Co. and Sinopec (600028 CH) have signed an MoU to strengthen cooperation in areas including fuel sales, oil and gas trading, and upstream activities, according to Reuters citing Sinopec's Weibo account. (Newswires)

Currys (CURY LN) - Adj. PBT expected to be GBP 105-115mln for FY24. To finish year with net debt better than last year. Exceptional cash loss expected to fall significantly from 2024/25 onwards. (Newswires) 

Harbour Energy (HBR LN) - FY23 avg. production 186k (prev. 208k boepd). (Newswires) 

Flutter (FLTR LN) - Q4 (GBP): Constant FX Revenue, +15% Y/Y, FY Revenue 9.5bln (prev. 7.69bln Y/Y), +25%. US Net Revenue 1.13bln, (-147mln below Q3 guidance, due to customer friendly sports results). (Newswires)  

Ferrexpo (FXPO LN) - Interim dividend of USD 3.3c; approved a salary increase and bonus payment for its workforce in Ukraine. 

JD Sports (JD/ LN) - Completed the acquisition of the 40% minority stake in Marketing Investment Group and is now the 100% sole owner. (Newswires) 

International Distributions Services (IDS LN) – Co. notes of marked improvement in Royal Mail Christmas performance and Co. is on track to meet its FY guidance. Group saw a marked improvement in performance in the three months to December. Guidance for FY remains at about breakeven excluding voluntary redundancy cuts. (Newswires)

Orpea (ORP FP) - Launches EUR 390mln share capital increase with shareholders preferential subscription rights. (Newswires) 

Orange (ORA FP) - Co. and Spanish rival MasMovil are reportedly set to gain conditional EU antitrust approval for their Spanish tie-up, according to Reuters sources.

Sainsbury's (SBRY LN) - Completed a strategic review of financial services division. Over time this will result in a phased withdrawal from core banking business. CEO of Sainsbury's Bank Jim Brown will retire. Business will continue as usual. (Newswires)  

Sage (SGE LN) - Q1 Trading Update: Total Revenue +10% Y/Y. (Newswires) 

Travis Perkins (TPK LN) – In Q4 trading delivered results in-line with management expectations. Expects to deliver an FY23 EBIT GBP 180mln (prev. guidance 175-195mln) (Newswires)

Watches of Switzerland (WOSG LN) - Cuts outlook. Despite a positive start the early part of Q3 FY23, Co. then experienced a volatile trading performance in the run-up to and beyond Christmas as the challenging macro-economic conditions impacted consumer spending in the luxury retail sector. (Newswires)  

Atlas Copco (ATCOA SS) downgraded to Reduce from Hold at HSBC 

ams Osram (AMS SW) resumed with Buy at Deutsche Bank Shares seen +3.5% in pre-market trade

Telenor (TEL NO) upgraded to Buy from Neutral at Citi 

18 Jan 2024 - 07:55- Research Sheet- Source: Newsquawk