Additional European Equity News

Autos/Toll names - French Finance Minister Le Maire confirms to be considering tax increase on highway operators (Newswires)

Frasers (FRAS LN) – Instructed Liberum Capital in relation to a non-discretionary buyback to purchase shares. Aggregate purchase price to be no greater than GBP 70mln. Elsewhere, discloses an 8.89% stake (prev. 4.32%) in Curry’s (CURY LN). (Newswires)

ING (INGA NA) – Progress on buyback: in-line with launch of the EUR 1.5bln buyback announced on 11th May, repurchased 1.654mln shares. (Newswires)

Lufthansa (LHA GY) - Pilots union said the Co's pay offer of an 18.5% pay increase over several years, is absolutely insufficient and are open to further offers. (Newswires)

Renault (RNO FP) – Board approves appointment of De Meo as future Chairman and CEO of Ampere, to assure launch and success of IPO. Carve-out of Ampere is expected in H2-2023. (Newswires)

Richemont (CFR SW)/ Swatch (UHR SW) - Swiss Watch Exports +14.4% (prev. 6.8%). (Newswires)

Saga (SAGA LN) – Booked Ocean Cruise load factor for 2023/24 as of 18th June was 79%, 7ppts ahead YY. (Newswires)

Saint Gobain (SGO FP) – TotalEnergies (TTE FP) to supply certified sustainable biomethane to Co. in France, signed a 100GW biomethane purchase agreement for three years. (Newswires)

Telecom Italia (TIT IM) – Co. is reportedly leaning towards beginning discussions with KKR re. the sale of its landline grid, via Reuters citing sources. (Reuters)

Volvo (VOLVB SS) – Co. is introducing a new and more powerful battery for its mid-duty trucks. (Newswires)

Ahold Delhaize (AD NA) initiated with Buy at Kepler Cheuvreux

Carrefour SA (CA FP) initiated with Buy at Kepler Cheuvreux

Getinge (GTIB SS) downgraded to Hold from Buy at Carnegie

Sartorius Stedim Biotech (DIM FP) downgraded to Hold from Buy at SocGen

Valneva (VLA FP) upgraded to Buy from Hold at Kepler Cheuvreux

20 Jun 2023 - 07:32- EquitiesResearch Sheet- Source: Newsquawk