Additional European Equity News

Alcohol names - India Antitrust Body raids regional offices of liquor companies such as Pernod Ricard (RI FP) and AB InBev (ABI BB), via Reuters citing sources; investigation into concerns of price collusion with some retailers in India. AB InBev says "we are working together in collaboration with the authorities" in India.

Covestro (1COV GY) - XRG secures 91.3% of Covestro, via voluntary takeover; transaction exp. to close in H2'25. (Newswires) takeover as expected

EssilorLuxxotica (EL FP) - Co. and Prada announce ten-year licensing renewal. (Newswires) 

Hikma (HIK LN) - Acquired rights to a portfolio of Takeda Brand for the MENA region. (Newswires)

Porsche (P911 GY) - Co. mulls taking a majority stake in Bugatti, via Manager Magazin. (Manager Magazin)

Skanska (SKAB SS) - Received SEK 430mln order to build hydroelectric power plant in Norway. (Newswires) 

Scor (SCO FP) - Success of tender offer on existing RT1 notes for an amount of EUR 186.4mln. (Newswires) 

Serco (SRP LN) - Trading statement (GBP): Affirms 2024 rev. guidance, lifts FCF 170mln (prev. 150mln Y/Y); expects 2025 rev. of appro. GBP 4.8bln, despite around 7% rev. reduction from immigration contracts in the UK/Australia (Newswires) 

Telecom Italia (TIT IM) - Exec says "to evaluate the offer for Sparke". (Newswires) 

Wood Group (WG/ LN) - Significant contract with OMV Petrom (OMV AV) for sustainable aviation fuel in Europe. (Newswires) 

UK Motor Finance / Lloyds (LLOY LN) / Close Brothers (CBG LN) - FCA says firms given until December 2025 to respond to motor finance commission complaints. On 11 December 2024, Supreme Court confirmed it would hear an appeal against Court of Appeal's judgment. FCA plans to apply to formally intervene in the case to share its expertise to assist the court. (Newswires) 

Aurubis (NDA GY) initiated with Buy at Kepler 

Nemetschek (NEM GY) upgraded to Buy from Reduce at Baader

19 Dec 2024 - 07:10- MetalsResearch Sheet- Source: Newswires