Additional European Equity News

Avanza (AVANZ SS) - Q3 (SEK): Net Income 510mln (exp. 500mln), Operating Income 854mln (exp. 584mln). (Newswires)

Auto Names - EU27 New car registrations: +9.2% (prev. 21%) in September; EU battery-electric car registrations increased by 14.3%, reaching 127,149 units, or 14.8% of the market  EU September Registrations (Y/Y): Volkswagen Group (VOW3 GY) +9.6%, Stellantis (STLAM IM/STLAP FP) +11.3%,  Renault Group (RNO FP) +5.1%,  BMW (BMW GY) +6.6%, Mercedes-Benz (MBG GY) +15.8%, Volvo Cars (VOLCAR SS) +17.6%, Tesla (TSLA) -9.8%.  Ford (F) -12.9%, Nissan (7201 JT) +30.9%, Toyota (7203 JT) +9.5%. (ACEA)

Boliden (BOL SS) - Q3 (SEK): Revenue 19.4bln (exp. 18.4bln), EBIT 1.9bln (exp. 2.02bln). Decreasing metal prices. Production at Ronnskar has been ramped up and operating according to the modified business model. Planned maintenance has been partially moved into Q4. Weak economic activity, notably in Europe and China, impacted on demand for metals. (Newswires)

Bollore (BOL FP) – Q3 Update: Revenue -7%. Confident that the merger with Lagardere (MMB FP) will be finalised by end-2023. (Newswires)

Covivio (COV FP) – end-September Revenue EUR 484mln. FY23 guidance confirmed. (Newswires)

IHG (IHG LN) – Q3 Update: group RevPAR +10.5% Y/Y, with Americas +4.1%, EMEAA +15.9% and Greater China +43.2%. On track to have returned USD 1bln to shareholders in 2023 through share buybacks and dividend payments. (Newswires)

Klepierre (LI FP) - 9-month (EUR): Revenue 1.04bln (prev. 0.99bln), Net Rental Income 737mln (prev. 657mln). Confirms FY guidance. (Newswires)

Yara (YAR NO) – Q3 (USD): adj. EBITDA 396mln (exp. 594mln), Net Income 2mln (exp. 238mln); price of products decline along with global gas prices. Risk for new nitrogen curtailments if slow European demand continues. Demand softened mid-Q3 as urea prices declined. Nitrogen market saw significant volatility. Will consider further cash distributions in the coming quarters. (Newswires)

Brunello Cucinelli (BC IM) upgraded to Buy from Hold at SocGen

Fabage (FAB SS) downgraded to Hold from Buy at Kepler Cheuvreaux

20 Oct 2023 - 07:05- EquitiesResearch Sheet- Source: Newsquawk