Additional European Equity News

Antofagasta (ANTO LN) - Q2 Production Update: Copper 149.6k/T, +2.5% QQ; Gold 44k/oz, +4.3% QQ. FY23 guidance: Copper 640-670k/T. (Newswires)

Assa Abloy (ASSAB SS) - Q2 (SEK): Sales 34.4bln (exp. 33.7bln), EBIT 5.5bln (exp. 5.5bn). Intends to purchase Evolis (ALVTO FP) at a price of EUR 32.30/shr. (Newswires) Evolis closed at EUR 32.80/shr

Aviva (AV/ LN) - Comparative FY22 results: No impact to strategy, capital generation, dividend guidance, or capital return outlook. FY23 Guidance: Operating Profit +5/7%. (Newswires)

Hargreaves Lansdown (HL LN) - Trading Update (GBP): Net new business 1.7bln, +6% QQ. AUA 134bln, +2% QQ. (Newswires)

Nexans (NEX FP) - Wins a record breaking contract for the Euroasia interconnector, valued at EUR 1.43bln. (Newswires)

Kering (KER FP) - Gucci CEO Bizzarri to leave in September. Replaced temporarily by Palus, Bellettini to become deputy alongside Duplaix. (Newswires)

Restaurant Group (RTN LN) - Q2 Update: Sales: Wagamama +5% (prev. +2%), Pubs +13% (prev. +5%), Leisure -7% (prev. -4%), Concessions +23% (prev. +37%). Very encouraging year-to-date Trading performance. Confident in delivering management's expectations for FY23. (Newswires)

Severn Trent (SVT LN) - Trading Update: Strong start to FY operationally. Financial performance remains on track, expected to deliver in-line with expectations net reward of at least GBP 50mln. Capex seen between 0.85-1.0bln for FY. (Newswires)

Thule (THULE SS) - Q2 (SEK): Sales 3.03bln (exp. 2.98bln), adj. EPS 5.14 (exp. 4.88), Net Income 539mln (exp. 518mln), EBIT 711mln (exp. 691mln). (Newswires)

Yara (YAR NO) - Q2 (USD): Revenue 3.9bln (exp. 4.6bln), adj. EBITDA 252mln (exp. 550mln), Net Income -300mln (exp. 185mln). Q2 impacted by falling prices, but an improved demand outlook for the new season. (Newswires)

Equinor (EQNR NO) downgraded to Sell from Hold at Berenberg

OMV (OMV AV) maintained with Underweight at JPMorgan

Orange (ORA FP) upgraded to Buy from Neutral at Citi

Repsol (REP SM) maintained with Underweight at JPMorgan

Shell (SHEL LN) maintained with Overweight at JPMorgan

TotalEnergies (TTE FP) maintained with Overweight at JPMorgan

19 Jul 2023 - 07:10- EquitiesResearch Sheet- Source: Newsquawk