Additional European Equity News

AstraZeneca (AZN LN) - Co. to build USD 1.5bln manufacturing plant in Singapore, via Bloomberg. (Bloomberg)

British Land (BLND LN) - Sells 50% Meadowhall stake. Impact on deal on FY25 NTA/shr is expected to be negligible and FY25 EPS dilution is estimated to be 0.6p prior to reinvestment. (Newswires) 

BBVA (BBVA SM) - Sabadell (SAB SM) investor Martinez supports BBVA's hostile takeover, via Bloomberg. (Bloomberg)

Marks & Spencer (MKS LN) - Apologises to customers after its website and app went offline for several hours following a "technical issue". (Newswires) 

Roche (ROG SW) - UK CMA is considering whether Roche/Lumiradx deal will result in substantial lessening of competition. Invites comments on Roche/Lumiradx deal from any interested party and initiation to close on 3 June. (Newswires) 

Volkswagen (VOW3 GY) - China's SAIC has signed a cooperation deal with Audi (NSU GY) on developing high-end new EVs and jointly developing advanced digitized platforms. (Newswires) 

Veidekke (VEI NO) - Strengthens position in Sweden and purchases Euromining AB; Agreed purchase price equates to a EV of approx. NOK 500mln. (Newswires) 

Wacker Chemie (WCH GY) -  China’s Mofcom launched an anti-dumping probe into polyoxymethylene copolymers (used in electronics and cars) from the EU, US, Taiwan and Japan, according to FT. (Newswires) 

Mercedes Benz (MBG GY) upgraded to Overweight from Equal Weight at Morgan Stanley

Porsche (P911 GY) downgraded to Underweight from Equal Weight at Morgan Stanley

Rio Tinto (RIO LN) downgraded to Neutral from Buy at Citi 

Sonovo (SOON SW) downgraded to Equal Weight from Overweight at Morgan Stanley

Volkswagen (VOW3 GY) downgraded to Underweight from Equal Weight at Morgan Stanley