Additional European Equity News

Autos - New car registrations: -18.3% Y/Y in August 2024 (vs +0.2% in July 2024); battery electric market share 14.4% (vs 21% in August 2023), according to ACEA  Spain -6.5% Y/Y  Italy -13.4% Y/Y  Germany -27.8% Y/Y  France -24.3% Y/Y  Manufacturer (Y/Y). Volkswagen Group (VOW3 GY) -14.8% (prev. -2.2% in July)  Stellantis (STLAM IM/STLAP FP) -29.5% (prev. -5.2%)  Renault (RNO FP) -13.9% (prev. -1.7%)  BMW (BMW GY) -15.6% (prev. +2.8%)  Mercedes-Benz (MBG GY) -12.7% (prev. +1.9%)  Volvo Cars (VOLVB SS) +28.6% (prev. +36.7%)  Tesla (TSLA) -43.2% (prev. -14.7%)

ING (ING NA) - Co. is to halt financing to companies that fail to address its carbon footprint, via FT. (FT)

Rolls Royce (RR/ LN) - Rolls-Royce SMR named as preferred supplier to build in Czechia. (Rolls Royce) 

Richemont (CFR SW) - Swiss Trade (Aug) 4.578B CH (Prev. 4.889B CH, Rev. 4.877B CH); Swiss Watch Exports +6.9% Y/Y (Prev. +1.6%)

M&A - EU's new competition chief says merger rules must "improve", via the FT. (FT)

MFE (MFEA IM) - H1 (EUR): Net Profit 103.7mln, Revenue 1.48bln. Confirms FY outlook. (Newswires)

Next (NXT LN) - HY (GBP): Full price sales +4.4%. Declares interim dividend of 75p/shr. FY Guidance: Profit 995mln (prev. guided 980mln). Anticipates share buybacks totally GBP 306mln. Sees FY full price sales +4% (prev. guided 3.4%). (Newswires)  

Ocado (OCDO LN) - Q3 (GBP): Revenue 658mln, +15.5% Y/Y, Retail Volumes +15.4% Y/Y. Raising FY24 Revenue guidance to "low double digit % growth" (prev. guided "mid-high single digit". (Newswires) 

Payment Names - Former US President Trump stated that he wants to temporarily cap credit card interest rates at around 10%, no other details were provided. (AP)

S4 Capital (SFOR LN) - H1 (GBP): Adj. EBIT 24.8mln, Revenue 422.5mln. Given current outlook for tech services, target LFL net revenue to be down in FY. LFL FY profit targets unchanged. Continue to expect to be heavily second-half weighted. (Newswires) 

URW (URW NA) - Delayed retail opening will result in estimated EUR 100mln additional costs. (Newswires) 

Volkswagen (VOW3 GY) - Plans even higher billion dollar cuts, via Manager Magazin. (Manager Magazin)

19 Sep 2024 - 06:55- EquitiesResearch Sheet- Source: Newsquawk