Additional European Equity News

Anglo American (AAL LN) - Committee of Chilean minister approve environmental permit for Co's Los Bronces project. (CNN Chile)

ArcelorMittal (MT NA) – Establishes a renewable energy JV with Casa Dos Ventos, to develop a 554MW wind power project. Circa. USD 0.8bln project. (Newswires)

British American Tobacco (BATS LN) - Italy’s antitrust opens probe on Amazon (AMZN) and British American Tobacco over misleading advertising for heated tobacco product, according to Bloomberg. (Newswires)

Cineworld (CINE LN) – Chapter 11 Update: Terminates the marketing process for “rest of world” business. Co. and some subsidiaries continue to move forward with proposed restructuring. Continues to expect to emerge from this during H1 and continues to operate cinemas as usual without interruption. (Newswires)

easyJet (EZJ LN) – H1 Prelim. (GBP): Revenue 2.69bln (exp. 2.71bln), EBIT -395mln (exp. -285mln). CEO “… easyJet expects to outperform FY23 market expectations.” Adds, “We see continued strong booking momentum into summer as customers prioritise spending on travel and choose airlines like easyJet offering the best value and destination mix, as well as easyJet holidays which is continuing its steep growth trajectory as the fastest growing holidays company in the UK.”. Booked 605 of Q3 tickets, slightly ahead of this time last year. (easyJet)

Entain (ENT LN) - Q1 Trading Update: Group Net Gaming Revenue (NGR) +15% Y/Y. Online NGR +16%, in line with expectations; Retail NGR +14% Y/Y Co. notes of record levels of active customers in Q1, up +19% versus the prior year (+14% proforma). (Entain)

Glencore (GLEN LN) - Teck Resources (TECK) CEO confirmed they have not met with Glencore and that earlier media reports of such a meeting are false. Teck CEO also rebuffed reports that shareholder China Investment Corp favours the Glencore bid over Teck's split. (Newswires) Legal & General (LGEN LN) opted to vote for Teck's plan to support the spin-off rather than support Glencore's plan. Legal & General is a shareholder in both Teck and Glenore. (Times)

GSK (GSK LN) - Reached an agreement to acquire Bellus Health (BLU) for a total equity value of GBP 1.6bln. (Newswires)

Lagardere (MMB FP) – Q1 (EUR): Revenue 1.675bln (exp. 1.36bln), Publishing Revenue 570mln, Travel Revenue 1.046bln. Liquidity position remains solid. (Newswires)

Pernod Ricard (RI FP) - New Delhi City authority rejects Cos application to renew liquor sale licence, via Reuters citing a city order. Citing an ongoing investigation. (Newswires)

Suedzucker (SZU GY) - FY 2022/23 (EUR): Revenue 9.5bln (exp. 9.5bln), EBITDA 1.07bln (exp. 0.97bln), Operating 0.7bln (exp. 0.35bln). Proposes a FY dividend of EUR 0.70/shr (exp. 0.518/shr). FY 2023/24 Guidance: Operating Result raised to 725-875mln, EBITDA 1.1-1.3bln (exp. 1.08bln). (Newswires)

Telecom Italia (TIT IM) - Bidders for TIM's network are reportedly preparing to raise its offers by EUR 1-2bln, according to Reuters sources. (Newswires)

THG (THG LN) - FY 2022 (GBP): Revenue +2.7% Y/Y to 2.24bln. Co. notes of a positive start to the year with revenue momentum improving significantly through the quarter. (Newswires)

TotalEnergies (TTE FP) – Q1 main indicators: hydrocarbon production expected to exceed 2.5mln BOEPD in Q1, variable cost margin European refining USD 87.8/T. Refining and Chemicals results expected to be higher given the sustained refining margins during the quarter. (Newswires)

Carlsberg (CARLB DC) downgraded to Market Perform from Outperform at Bernstein

Remy Cointreau (RCO FP) upgraded to Outperform from Market Perform at Bernstein 

18 Apr 2023 - 07:05- EquitiesResearch Sheet- Source: Newsquawk