Additional European Equity News

Air France-KLM (AF FP) - French container transportation and shipping company CMA CGM is to take as much as a 9% stake in Co., according to Bloomberg. (Newswires)

Air Liquid (AI FP)/ Shell (SHEL LN) - Cos sign a 10yr agreement for renewable energy in Italy. (Newswires) 

Aviva (AV/ LN) – Q1 2022 Update: Net inflows to wealth business GBP 2.7bln, remained strong; on track to meet the upgraded guidance outlined at the FY21 report. (Newswires)

Auto Names - Europe New Car Sales Y/Y (Apr) -20.6% (prev. -20.5%); amid supply chain issues. VW Group (VOW3 GY) -28%, Stellantis (STLA IM/FP) -31%, Renault (RNO FP) - 16.3%, BMW Group (BMW GY) -17.6%, Mercedes Benz Group (MBG GY) -22.6%. (Newswires)

British Land (BLND LN) - FY22 (GBP): Revenue 410mln (prev. 468mln). Underlying net 251mln (prev. 201mln). (Newswires)

Burberry (BRBY LN) - FY 2022 (GBP): Revenue 2.83bln (prev. 2.34bln Y/Y). Operating profit 543mln (prev. 521mln). FY Retail Comp Sales +18% (exp. +18.7%). Co. maintains guidance of high single-digit revenue growth and meaningful margin accretion at CER in the medium-term. Plans a GBP 400mln share buyback for completion next year. (Newswires/Burberry)

Commerzbank (CBK GY)  - Spokesperson says their current strategy is to create conditions to remain independent. (Newswires) Follows an FT report around a potential deal with UniCredit being shelved amid the Ukraine war, see Daily European Equity Opening News for details

Darktrace (DARK LN) - A senior executive at the Co. has been linked to one of the UK's largest ever frauds in a High Court ruling. (Telegraph)

D/S Norden (DNORD DC) - Upgraded its FY22 net profit outlook to USD 340-420mln (prev. USD 270-350mln). (Newswires) 

Elior (ELOR FP) - H1 2022 (EUR): Revenue 2.24bln (prev. 1.87bln). Adj. EBITDA loss 16mln (prev. 25mln). Net loss 266mln (prev. 53mln). Co. notes of the resumption of dividends in 2023-24. (Newswires)

Ericsson (ERICB SS) - Co. has announced changes in its corporate structure. Co. introduced a new business area - Cloud Software and Services. (Newswires) 

Experian (EXPN LN) - FY 2022 (USD): Revenue 6.288bln (prev. 5.372bln). Operating profit 1.416bln (prev. 1.183bln). Basic EPS 1.275 (prev. 0.882). Total dividend 0.5175 (prev. 0.4700). (Experian)

Mediobanca (MB IM) – ECB has told investor Del Vecchio that his holding company must be turned into a bank holding firm for it to hold over 20% in Mediobanca, according to a paper cited by Reuters. (Newswires)

Premier Foods (PFD LN) - FY21 (GBP): Revenue 900.5mln (prev. 934.2mln Y/Y). Adj. pretax 128.5mln (prev. 115.3mln). Online sales +71%. (Newswires) 

Aker BP (AKERBP NO) upgraded to Buy from Hold at DNB Markets

AstraZeneca (AZN LN) downgraded to Hold from Buy at Kepler Cheuvreux

Barry Callebaut (BARN SW) downgraded to Reduce from Add at Baader Helvea

Equinor (EQNR NO) upgraded to Buy from Hold at DNB Markets

Experian (EXPN LN) reiterated with Overweight at JPMorgan Chase

Imperial Brands (IMB LN) reiterated with Overweight at JPMorgan Chase

Logitech (LOGN SW) upgraded to Buy from Neutral at UBS

18 May 2022 - 07:45- EquitiesResearch Sheet- Source: Newsquawk