Additional European Equity News

Aker BP (AKRBP NO) - Production restored following unplanned downtime at Alvheim. (Newswires)

Campari (CPR IM) - Russian court has banned a local distribution firm from selling Aperol within the nation. (Newswires)

CRH (CRH LN) - Entered an agreement to acquire Adbri for AUD 2.1bln. (Newswires)

Croda (CRDA LN) - FY23 guidance confirmed. Louisa Burdett the CFO intends to leave in June 2024. (Newswires)

Eiffage (FDR FP) - Awarded a EUR 2.5bln consortium contract for a section of the line 15 east of the Grand Paris Express. (Newswires)

Eni (ENI IM) - In talks with interested funds around the purchase of a minority stake in Novamont, which would value the unit at EUR 1bln, via Reuters citing sources. (Newswires)

GlaxoSmithKline (GSK LN) - Commercial Officer Miels said they are working on further deals with Chinese firms after a licensing agreement was signed in October. Elsewhere, Jemperli plus Zejula attains the primary endpoint. (FT/Newswires)

Iliad (ILD FP) - Co. has submitted a deal to Vodafone (VOD LN) to merge Vodafone Italy and Iliad Italy. Iliad Italia valued at EUR 4.45bln. (Newswires)

Nordea Bank (NDA SS) - Co. has decided to change its accounting practice for development costs related to its digital services; will subsequently record a writedown of EUR 130mln in Q4. (Newswires) 

OCI (OCI NA) - To divest its interest in Iowa Fertiliser for USD 3.6bln. (Newswires)

Ryanair (RYA ID) - CEO O'Leary is on target for a EUR 100mln bonus after shares hit a record high on Friday; lifted to EUR 18.99/shr and need to hit EUR 21/shr for 28 days. (FT)

Renault (RNO FP) - Alpine Racing has finalised the sale of 24% of its share capital for EUR 200mln to Otro Capital, valuing the Co. at USD 900mln. (Newswires)

Skanska (SKAB SS) - Constructs two new buildings for a college in Texas, for USD 155mln. (Newswires)

Snam (SRG IM) - BlackRock (BLK) has abandoned talks to acquire Exxon's (XOM) majority stake in Italy's main LNG terminal, via Reuters citing sources. (Newswires)

Software AG (SOW GY) - Sells Webmethods and Streamsets for EUR 2.13bln, expected to conclude in Q2-2024. Additionally, decision to issue a public delisting tender offer with Silver Lake/Mosel Bidco offering to shareholders to acquire all no-par value registered shares with a proportionate interest in share capital of EUR 1/shr. Bidder intends to offer a cash consideration of EUR 32/shr. (Newswires)Co. closed at EUR 31.82/shr.

Spirax-Sarco (SPX LN) - Louisa Burdett appointed as CFO from July 2024. (Newswires)

Telecom Italia (TIT IM) - Received a complaint from Vivendi (VIV FP), who did not request precautionary measures in the complaint concerning the KKR deal. Deal will continue as planned. (Newswires)

Thyssenkrupp Nucera (NCH2 GY) - CFO says negative EBIT expected for 2023/24 is only temporary; investment is required to scale up its business. (Newswires) 

UBS (UBSG SW) - CEO Ermotti is not convinced that Central Banks have inflation under control. (Le Matin)

Unilever (ULVR LN) - Received a binding offer from Yellow Wood to acquire Elida Beauty. (Newswires)

Barratt Development (BDEV LN) downgraded to neutral from buy at UBS

Berkeley Group (BKG LN) downgraded to neutral from buy at UBS

Fresnillo (FRES LN) downgraded to Underweight from Equalweight at Morgan Stanley

Nokia (NOKIA FH) downgraded to Neutral from Buy at Goldman Sachs

18 Dec 2023 - 07:05- Research Sheet- Source: Newsquawk